ASX shockers

[skc]

FXJ down 10% on Friday

Monday morning the PE bid is pulled.

I mean what is ASIC doing?

What do you mean re: ASIC? Do you mean the trading on Friday? That was due to an Australian article about one bidder (H&F) wouldn't submit a bid in time... turned out that it was TPG who walked away on top of no other bids received.

 

[kid hustlr]

I meant ASIC as in referring to suspicious trade the day before a big announcement. Was not aware of the article but it all seems a little on the nose to me.

Plenty of other of these types of examples in my view - banks sell of 3% before the budget release etc etc.

I know it's the game we play and the world we live in.

 

[skc]

I meant ASIC as in referring to suspicious trade the day before a big announcement. Was not aware of the article but it all seems a little on the nose to me.

Plenty of other of these types of examples in my view - banks sell of 3% before the budget release etc etc.

I know it's the game we play and the world we live in.

I agree there are other cases but in this instance the timing was quite precise.... FXJ started to sell off when the article appeared on TheAustralian.

That little dip in FXJ share price on the 22 Jun was probably more worthy of investigation.

 

[skyQuake]

Spoke with a M&A guy - he reckons they left it too late. Deadline was friday and there was talk that they needed more time, though Macq and the lawyers said no.
No trading halt fri morn left holders pretty antsy
News started streaming in inevitably and were picked up by good sources late arvo.

Those people who got stopped out on that 22nd june spike must be pretty happy now!

 

[PZ99]

RMX is about to join this group when it opens today.

Yep 20m shares traded in 2 mins and down 58%...

 

[JTLP]

You might be adding BAL to this list...

 

[skc]

You might be adding BAL to this list...

Not sure what's the story there but that sounds incredibly bad luck if the asset they coverted the most (not the plant but the license) is suspended for unforeseen reasons. Or it's incredibly careless if it should be knowable... like a change of control, or a change in production to certified organic or something like that. Or may be it's an administrative thing that can be sorted out quickly.... Or someone out there in the Chinese CNCA just hates Ballemy....

Mind you BAL only paid $10m for the plant itself... the rest of the capital raising was used to pay out Fonterra.

But all in all... yes there's a reasonable chance that it'd land here again, even if it was just sheer over reaction.

 

[JTLP]

Not sure what's the story there but that sounds incredibly bad luck if the asset they coverted the most (not the plant but the license) is suspended for unforeseen reasons. Or it's incredibly careless if it should be knowable... like a change of control, or a change in production to certified organic or something like that. Or may be it's an administrative thing that can be sorted out quickly.... Or someone out there in the Chinese CNCA just hates Ballemy....

Mind you BAL only paid $10m for the plant itself... the rest of the capital raising was used to pay out Fonterra.View attachment 71740

But all in all... yes there's a reasonable chance that it'd land here again, even if it was just sheer over reaction.

True - we will have to wait and see. But wasn't this plant their golden ticket to China and a way of getting bulk stock in? Seems like a big hurdle, even if it's $10m.

 

[pixel]

Poor old DRM is another deserving member of this Club
Andy isn't so well anymore; even Deflector can't deflect from the sad situation.

commiserations to remaining holders

 

[PZ99]

RAP hit the skids today. Down 76%

"These are not the results that we expected given our experience in Australia. It is
obvious that a large number of tests have been affected by procedural anomalies and we now need to go through each case one by one to fully understand the result"

 

[skc]

RAP hit the skids today. Down 76%

Yes that was most unfortunate (cough cough). It feels like a bit of amateurish error with trial procedure not being followed thru...

But the stock was pumped to something like $3-400m market cap for a pretty early stage concept.... the fall was always going to be spectacular if the results don't live up to expectations.

 

[PZ99]

Seems to me their preparation was poor. I've trained voice machines in the past and the number one rule is to do it under the worst possible conditions. Audio samples from their target test sites would have been a good place to start prior to these tests.

 

[PZ99]

Well we can add CXO to this unhappy chain of events after NO lithium grades were intersected at Zola. Down 30%.

A North Korean missile could've done a better job and probably will eventually.

 

[PZ99]

Took a bet on OOO etf today at yearly lows... wish me luck.. LOL

Here's the thread we've been looking for. LOL

Loaded up on OOO again - oils ain't oils