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post Posted: Nov 21 2020, 06:33 PM
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In Reply To: bg99's post @ Nov 21 2020, 04:33 PM

Well, theres ya second mistake.
Watching game of Thrones?
C'mon man, get a hold of yourself.

sent from my Olivetti Typewriter.
post Posted: Nov 21 2020, 04:33 PM
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In Reply To: mullokintyre's post @ Nov 20 2020, 03:43 PM

Was LOL....

but now you have me spooked Mick, especially as I am in the middle of watching Game of Thrones
"Poseidon was god of the sea, earthquakes, storms, and horses and is considered one of the most bad-tempered, moody and greedy Olympian gods. He was known to be vengeful when insulted. He is the son of Cronus and Rhea and was swallowed by his father along with Hades, Demeter, Hestia and Hera.Sep 19, 2014"

post Posted: Nov 20 2020, 03:43 PM
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In Reply To: bg99's post @ Nov 20 2020, 03:22 PM

Anything with the name Poseidon in it is to be avoid ed at all costs.
The film of same name was terrible.
There is a mob touting forex trades called Poseidon international (PSFXGROUP.COM) that repeatedly comes up on scam watch.
Its 50n yeass ago since the Poseidon Nickel announced the BIGGEST EVAH Nickel find in WA.
It drove the poor bloke who started it to an early death before he was even 40.
Nothing good ever came out of the name.

sent from my Olivetti Typewriter.
post Posted: Nov 20 2020, 03:22 PM
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In Reply To: bg99's post @ Nov 20 2020, 09:40 AM

terrible close ... so much for that..... pump n dump

post Posted: Nov 20 2020, 09:40 AM
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In Reply To: bg99's post @ Aug 5 2020, 07:52 PM

1ASX AnnouncementDAteLevel 13 Ord StreetWest Perth WA 8 6167 6600F+61 8 6167 6449GOLDEN SWAN AND SOUTHERN TERRACE CONTINUES TO GROW 19 NOVEMBER 2020HIGHLIGHTSDrill hole PBSD0029D has intersectedastrongly mineralised interval of 6.4m (3.7m true width) of massive/matrix nickelsulphidesThis intersection continues a series of high qualitynickel sulphideintersectionsreturnedat Golden Swan over a 170m dipextentThecombination of thick,high grade intersections at Golden Swanin combination with the untested Downhole Electromagnetic conductors in the greater Southern Terrace position, underscores the opportunity for the Company to rapidly build high grade nickel resources once the drill drive is completed

More good news... up 25%, will be interesting to see what the grade is when it comes in

post Posted: Aug 5 2020, 07:52 PM
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In Reply To: bg99's post @ Sep 3 2019, 09:02 PM

SECOND GOLDEN SWAN MASSIVE SULPHIDEINTERSECTION EXTENDSNEW DISCOVERY5 AUGUST2020HIGHLIGHTSPBSD0030B has intersected9.0m(3.8m True Width) ofmassive and stringer nickel sulphidesin the newly discovered Golden Swan DepositLatest intersection is ~50m up-dip ofdiscovery hole PBSD0029Awhich intersected7.6m @ 8.8% Ni (true width = 4.3m) including 2.1m(1.2m TW) of massive sulphides grading15.9% NiThe Golden Swan massive nickel sulphidessits on a newly identified and highly prospective felsicterracethat potentially parallelsthe nearbySilver Swan underground mineDrilling is continuing at Golden Swan

Market likes it..... lets see what the new intersection results come in at.


post Posted: Sep 3 2019, 09:02 PM
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In Reply To: nipper's post @ Sep 2 2019, 08:05 PM

todays candle suggests a few think its at least a maybe thingy again .... will be interesting to see what happens with Ni price from here

post Posted: Sep 2 2019, 08:05 PM
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here we go again ?
Andrew Forrest-backed Poseidon Nickel is in the frame to accelerate mine re-opening plans in Western Australia as prices surge to their highest levels in years. The company is looking to bring the mothballed Black Swan operations, which include the high-grade Silver Swan mine, back into production 50 years on this month from the Poseidon nickel boom. There was speculation a restart, currently on track for some time in the next eight months, could be bought forward after nickel prices reached a five-year high on Monday.

The spike in the London benchmark three-month price to $18,470 a tonne came with a cloud hanging over supplies out of Indonesia and the future of the Chinese-owned Ramu nickel plant in Papua New Guinea after a big waste spill. ASX-listed nickel stocks rose sharply on Monday, with Western Areas Limited up more than 15 per cent to $2.86, Independence Group up almost 9 per cent to $5.92, Poseidon up 13 per cent to 4.3¢ and junior explorer St George Mining up almost 18 per cent to 16.5¢ after announcing a new nickel sulphide discovery at its flagship Mt Alexander project.

Indonesia has flagged banning nickel exports from December, raising concerns about a supply deficit. Indonesia's Energy and Mineral resources Minister Ignasius Jonan announced the island nation would bring forward a ban on exporting ore by two years in a move that would cut supply to China's nickel pig iron ore. The ban is consistent with Indonesia's push to force nickel miners there into downstream processing and could result in significant reduction in global supply in the medium term.

Independence managing director Peter Bradford said the current nickel price dynamic had been building for some time, with demand outstripping supply over the last three years. Mr Bradford said this had led to a drawdown in inventory to levels where any supply surprise could lead to immediate and sharp price movement. "Going forward there is the risk of increased tightness with continued demand for nickel into stainless steel and increasing demand for nickel into electric vehicle batteries," he said. "Under-exploration and under-development in new nickel production, largely as a result of sustained low prices over the last few years, means that supply-side response will be slow." Mr Bradford said higher prices were needed to encourage exploration and new development. He predicted nickel supply from Indonesia would grow over time and that was a positive for the industry overall.

Shaw & Partners analyst Peter O'Connor said he didn't expect any shutdown of the Ramu operations to cause a multi-quarter supply disruption. However, he said the situation in Indonesia had the potential to cause a significant squeeze in supply in the short to medium term. Mr O'Connor said another key factor for nickel stocks was emerging demand from battery makers looking to secure supply from WA's nickel sulphide producers.

Both Western Areas and Independence appear likely to receive higher premiums for their nickel concentrate as they negotiate fresh off-take agreements. Mr O'Connor said sustained strength in the nickel price would encourage Poseidon and others with mothballed assets to return to production as had been the case when the iron ore price spiked at the start of 2019.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
post Posted: Oct 4 2018, 12:53 PM
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In Reply To: blacksheep's post @ Oct 3 2018, 08:49 PM

Posted Yesterday, 08:49 PM UBS became a subholder - the last two transactions borrowing 42.6m shares with a view to shorting I presume

This morning the SP is down 6.78% @ 5.5c
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
post Posted: Oct 4 2018, 12:47 PM
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In Reply To: bg99's post @ Oct 4 2018, 09:26 AM

They should expand the Royal Commissions to securities trading.

Completely agree, and not just looking into shorting activities - the big shorters largely appear to be the big insto's and/or clients of theirs. There was a senate enquiry a few years back that looked into trading activities of a number of companies - a couple of extracts below - well worth reading the whole article as it gives graphical examples of the activities

I also posted this recently -

Re: The performance of the Australian Securities and Investments Commission (ASIC)
Supporting Information – Attachment 1.2

The questionable trading behaviours concerning CuDeco have emerged from analysis of long term
empirical trading and registry data. The only plausible explanations to address anomalous data issues are
those that refer to wide scale collusion and share price manipulation issues.

Anomalous data trends mainly relate to the activities of a small group of institutional brokers. The
identities of their clients are unclear as they are likely to reside within Nominee Entity accounts sitting
within Institutional omnibus accounts that are managed by the large investment banks. The system
provides layers of camouflage that enables the activities of sophisticated to be opaque to the market. It
makes official claims regarding fair and transparent markets grossly misleading <Refer: For dark pools, just
wade into the ASX>

The trading activities by either sophisticated investors (e.g., hedge funds) or fund managers on behalf of
accounts held by institutions, have unquestionably led to unfair dominance and control over pricing levels.
The practice of institutional brokers being used on a rotating basis to buy and sell for major clients has
further camouflaged their dominance over trading. Occasionally the services of other brokers, who have
reduced trading profiles for most of the time, are utilized whereby they step in and play a prominent role
for the same institutional interests.

Importantly, the activity of institutional brokers appears to represent the same substantial interests, as the
register shows institutional holdings being retained at reasonably static levels despite all of the trading
churn taking place (i.e., large volumes sold then re-purchased which necessarily requires high levels of cooperation).
The combined efforts of brokers, acting for much the same interests, have resulted in a
compromised and dysfunctional market regarding CuDeco. Research has also shown that similarities
regarding dubious trading patterns are also evident in the trading in other companies across the ASX.
The situation translates to cartel-like activity and is facilitated by the use of insidious algorithms that are
integrally connected to high frequency trading. Research has shown that high frequency algorithms have
the capacity of being able to choose who they deal with and can therefore connect designated sellers to
preferred buyers with transactions designed to achieve particular pricing outcomes. The situation
effectively translates to share price manipulation that is given safe passage on the ASX as the systems have
regulatory approval.

The complexity of algorithmic design and how they actually deliver a competitive advantage to those that
use them is beyond the comprehension of most market participants. Certainly the world’s most powerful
investment banks have poured enormous resources into recruiting and supporting some of the sharpest
mathematical/statistical minds in the world, to develop and fine-tune their proprietary algorithms,
Refinement s are continually taking place and new programs are appearing constantly. Crucially, by their
very design they represent a manipulative influence in the market that advantages one group of investors
(sophisticated investors) over another (retail investors) and enables companies to be unfairly targeted
resulting in severe undervaluations. The manipulation that occurs with algorithms is referred to in the
internet article High-Frequency Trading: A Market Destroying Scam.

There is no doubt that large volumes of high frequency algorithmic transactions have been instrumental in
setting and maintaining artificial prices not only in relation to CuDeco, but in all stocks where they are
utilized. A common practice borne out by CuDeco research, is for large volumes of small parcels of shares
to be sold in a manner that deliberately forces lower prices (i.e., Downticks in price) but where the majority
of the transactions are picked up by ‘affiliated’ brokers running algorithms that are tuned to seek out and
accept the trades. Such trades generally involve no change to beneficial ownership of shares, as the selling
and buying algorithms of brokers are acting in tandem for the same interest or interests ‘loosely’ affiliated
and sharing trading agendas. Large numbers of small algorithmic crossings, deliberately putting trades
through the market at lower prices, provide another mechanism for share prices to be worked lower.

Daily trading in stocks across the entire ASX is saturated with such spurious activity. The same approach
can also be used to force upward movements in price and to cap share prices, and it can be used to
manufacture volatility with large volumes of stock passing back and forth through the algorithmic
interactions of related interests. Again, there is no effective change to beneficial ownership as institutional
holdings have remained relatively unchanged from one month to the next.

Algorithms have a propensity to disguise and confuse trading in such a way that it is difficult to monitor
what is exactly taking place. Certainly, all such trades viewed on a tick-by-tick basis appear innocuous. But
the reality is that all trades are designed to deliver a strategic advantage, even the plethora of small trades
for one or more shares that make no sense to retail investors. A major function of trading algorithms
appears to be to disguise trading agendas by recycling shares through the market and controlling price
movements. Often a large seller or sellers are able to offload large parcels of shares that get recycled
through the market by algorithms buying then selling, or selling then buying, over and over, until the
shares eventually end up with a major buyer or buyers. Yet at the end of the day often there are only
minor changes to beneficial ownership as the large seller(s) and the large buyer(s) are related to the same
shareholder group.

A large amount of trading has the hallmarks of manipulation with trading representing a zero-sum game.
Some institutional brokers have trades that net out as losses while others have trades that net out as
profits but as the trades are essentially for the one group, (i.e. the register remains relatively static), buying
and selling tends to average out. The trading doesn’t necessarily generate profits, so that must not be the
motivation behind the copious buying and selling, and as such, it must be regarded as non-genuine and
servicing manipulative agendas.

While the design elements of algorithms are not properly understood, their impact over trading is readily
noticeable through the anomalous data trends that result from their use.

The issue of unscrupulous short selling activity was flagged by financial journalist Adele Ferguson as far
back as February 2008 <Link: Traders plunder super>. The recipients of short selling gains were hedge
funds and their gains were at the expense of Australian superannuation holdings. The following excerpts
are extremely revealing in regard to the ASX’s self-regulation expertise back in 2008.

Part extract
THE Australian Securities Exchange is demanding a review of stock trading rules amid evidence that
hedge funds are "borrowing" shares from superannuation funds to force down prices, a practice that is
mauling retirement savings. Traders, such as hedge funds that exist to exploit market anomalies and
volatility, have been borrowing large parcels of stock, mainly from superannuation funds.

Australia's $1.1 trillion superannuation industry warehouses its shares with "custodian" companies,
which often offer a discount for the service if the fund allows the stock to be lent to third parties.
Borrowed shares can be used to take long or short positions - betting shares will rise or fall - or to
manipulate voting at companies' annual meetings. The transactions are exempt from capital gains tax.
Other countries allow stock lending but do not have the same tax exemptions available in Australia.
David Bryant, group executive of investments at Australian Unity, which has $6.4 billion in funds under
management, likened the practice to leaving a car in a car park, which lends it to local hooligans who
return it damaged. The owner is left with the mess.

ASX chief Rob Elstone said yesterday short selling was not the issue, but the related stock lending
activity. "It lacks transparency and, depending upon how many links there are in the stock-lending
chain, it has the potential to raise systematic risk issues

ASIC took over regulatory duties from ASX in August 2010 but apparently did nothing to address the issues
raised by Adele Ferguson back in 2008 and referred to by the ASX itself in its role as self-regulator. In
February 2012 it was reported in The Australian newspaper that< Short sellers rang up $72bn profit over
18 months > in respect to the period June 2010 to January 2012, which, with the exception of June and
July 2010, coincided with ASIC taking over as regulator. An excerpt from the article follows.

SHORT sellers made a combined $72 billion in profits in the 18 months to last month, as the number of
stocks sold short increased. In their second study into the implications of short interest on stocks, Royal
Bank of Scotland analysts yesterday confirmed that increased short-selling leads to medium-term
underperformance from the stock. The study also shows the massive profits that can be made, or alpha
fund managers can generate, by shorting successfully.

The plundering of Australian super funds as per the article has been referred to ASIC by at least one
complainant with a response to the effect that they didn’t believe the figures were correct. Nothing further
was done about it. If anything, the figures probably understated the situation and even if RBS was only half
correct, it represents an enormous amount of wealth stripped from the accounts of pension fund holders.
Unfortunately the rorts have never been addressed and continue to this day

The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: bg99  

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