Southern Pacific Resource Corp STPJF

a crazy idea

[adamsight]

So before the loan was secured from creditte suise.
Someone comes to stp, we want to see the books etc.
OK Sign here
It says I cannot buy or sell until the loan/strategic review ends May 30th at close of the regular trading day.
Oh my its after trading day may 30th
lets sell

[nikehercules]

But there would need to be buyers - so if that was the case 4.9 million shares poured onto the market would cause the SP to crash hard. ie Dec. 11, 2013.

[nikehercules]

Any ideas on what's going on here in after hours??? 05/30/2014 4:38 PM EDT 0.20 2,370,400 -0.03 CHIX 002 002 House 2 is RBC capital markets. 2,370,400 million shares traded. All I can say given today's trading is remain diversified.

[ShatnersRug]

It must be that the deal is being concluded. The only scenario that the commons will lose out on is if a JV is agreed to with the interested party buying up X number of shares for X portion of the company. If the deal was concluded at 20 cents, the commons will lag for a long time. The good? STP will have enough liquidity to remain in operation for a long time to come. It should give management

[bmofoshizz]

Take a look at the very similar after hours shenanigans with ATH today. Most of the same players too. I wonder if there is a stock swap lined up?

[monzie]

At 40 to 1, I doubt that.  As I said this could all just be a normal reshuffling and crossover of portfolios.  There's tonnes of Canadian stocks with the after hours trades.  NKO, PPY, SGY, SU and many more.  And the one thing they all have in common is the RBC cross trade around 4:30

[bmofoshizz]

I was thinking more along the lines of an acquisition of STP, with shareholders given ATH equity. Similar to the STP-NPE deal, except the shoe is on the other foot now for STP.  Probably not though, you're right monzie. Probably end of the month moves and skittish hands. 

[nikehercules]

Thanks Monzie for pointing that out, and reconfirming that I'm an ass. I have not doubt you will call me out on my future bullchit. Incidentally, RY was taken down roughly 30 cents with this little end of month reshuffling. The timing looks exactly the same. House 002 (RY) crosses roughly $3.5 million of RY at 4:34pm If this happens all the time, it might be a good idea to put in stink bids

[monzie]

RBC did it to all the major banks and alot of the oil companies actually in fact they did it to every one of their holdings including BB and Y, all in the last ten minutes the price was pushed down repeatedly. Except for their precious metals holdings, those companies they pushed up in the last minutes G, YRI, K, MAG, SLW etc (Perhaps they're getting bullish on gold next month).  And then

[Junit290]

So it probably had nothing to do with any leaks of news to insiders, it was just the bank doing business as usual?  Just curious why why a bank would do that? 

[nikehercules]

It could be actually be an RY algo going nuts. Two years ago, Knight Capital Group (KCG) had an algorithm go absolutely bezerk and started buying high and selling low and in about two hours it blew through KCG's working capital. Pretty much bankrupted itself before it could pull the plug. Preferred shares, such as RBS.PR.F traded as high as $29 when no sane individual would pay more than $25.

[freedom45]

The company today assuming the ICDs work as suggested is $1.4B. Don't ask me why. A Jv may be published for the cost of clearing current debt at 49% which is a bargain relative to outright sale. New Management team structure agreed to by parties. Anything else is a defeat for Lutes and would indicate his (or teams)lack of neg skill and forward thought process which I'd be more than happy