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@Alan-by-the-sea, thanks for your reply, I'm happy holding here for a while see how it plays out, asset seems to be good and management seem to be doing a decent job at the moment.
I would rather them use any profits to possibly be used for growth in my opinion as long as they use it wisely. with such small amount of shares in issue don't think it will make much odds where as if they use it for growth.
just my thoughts.
Beef
Beef, very considered response and glad you like what you see. I increased my holding recently with a small quantity @ 118.9853p and a medium quantity @ 134p both documented here, so can hardly be called a deramper. However all companies good and bad have pluses and minuses (some are just too expensive, others too risky!). Some transactions (eg A J Bell and possibly H L) usually go via the NEX exchange, by the way.
The fact that I'm confident enough to write about the bear aspects perhaps demonstrates in a contrary way my confidence in the company, nothing new that you can't find amongst dozens of postings. It may also give an insight into the recent retrace beyond the usual AIM impatience highlighted in the past few days, or people wanting to crystallise a good capital gain rather than wait for excellent potential.
A former director in the UK, Adam Waugh who is 56 years of age holds (or formerly held) 46,466 shares (1.42%) and noone disagreed with me when I suggested that he may - or may not - wish to sell out @ £1.60 to fund retirement or a new project, his previous one in computer management ceased earlier, in February 2017. This is the minimal level he would be looking for to achieve a happy ending to his unhappy term in office, indeed cynicism from that time of former management may be the psychological barrier that newer investors like me from the spring are happy not to bear.
The other factor - and one that many AIM companies would love to have - is that barring any unforeseen circumstances - we will almost certainly have £1.874m of new funding arriving next May (with right to do so earlier) - source RNS last May. 1.874m new shares will be generated then by exercise of unlisted warrants @ £1.00 last held I believe by SVS Securities (in administration). This has possibly generated the buyback talk, if the cash isn't needed onsite for expansion.
The SVS Securities story is worthy of a whole posting in itself, but they were a former joint broker who promoted placing stock to their clients, indeed satisfactorily for them in May even after substantial spread, if not before. All SVS clients' custody holdings via CREST are currently frozen by the administration and a "fast-track" (only by lawyers' standards...) is in place for many with hopefully release next month, clients have already been given confirmation of their holdings. For further information search for Daily Mail SVS Securities, SVS Leonard Curtis administrators, or my own posting on 8 August. Many of the SVS investors with this telephone broker contact are quite experienced, some are members here, and may well wish to retain their holdings though, or buy on any dips with their accumulated untouched dividend cash.
Best news left enigmatically till the end, quite a few of us are looking for some likely cheer not today at all but by tomorrow afternoon or on Monday, Beef you'll have to scroll down quite a few postings to work that one out if not spotted already
STULAW, obviously not an expert but just from the couple of the interviews I watched I just liked the management, I have been involved in EUZ and am not a fan of the management style, from my point of view the mine life may be a problem but as it said in the interviews they are looking for possible growths for the business and they are looking at mining expertise to try and save on costs which may help profitability.
If they keep finding diamonds and the cost for mining them gets reduced, then surely this is massively undervalued for 4M MCAP?
Trying to have a balanced argument in this investment so if anyone agrees or disagrees then please let me know?
Many thanks
Beef
ambitiousbeef, my guess is exactly that, a guess. But FWIW, I think we’re around 50% undervalued for where we currently are. The best way to gauge how well the company has done recently is to go through the RNS’s, which have been positively sunny over the last year, and I have a positive outlook looking towards the next FY results. The real icing on the cake over the past year has been the frequency of large stones.
No one can predict the future, but it helps when you have full faith in the BoD, and the management. And I do. With more big stones, and strong FY results, I think that double the current SP, within a year is possible.
Not advice, and not scientific, just my current sentiment. Whatever you decide, good luck.
I think £10m market cap is a realistic near term target (3-6 months). Confirmation of profitability via the final results in Q1 2020 will be a major milestone for the re-rate IMO.
>£1
£2.50-£3.00 Just my 2p
Hi all,
I'm new to investing, I have watched the interview with proactive investors and listened to the conference call and the management seem pretty positive and seems worth an investment.
Would anyone take a guess on where the share price may be in a few months time?