Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Q4 updates are much better than expected!
CHRY now live board on LonSouE.
Seems like folk got wind of this:
https://news.sky.com/story/transferwise-to-hire-banks-for-blockbuster-float-12167155
Lovely stuff. Provided the broader market doesn't really bomb the next few years are looking very tasty.
Dire, Meri have a good track record of steady asset value appreciation and often sit a few per cent above NAV.
I just see this as coming into line and it may well stay at this level for a while?
We shall see.
Up 9 percent cos of the 3m pound trade. Listed Private Equity (LPE) often moves with slightly out of step with public markets on a day by day basis, but not week by week.
18-Dec-20 16:35:27 174.00 1,736,039 Buy* 170.50 172.00 3m UT
Great to see....
Happy weekend.
I presume all the data from this forum thread would move across to CHRY...
https://www.lse.co.uk/rns/MERI/results-of-extraordinary-general-meeting-ew2h73o73lwdgod.html
The fact sheet is really hard to read the holdings allocation. This is taken from Quarterly NAV Announcement 11 December 2020 and posted here for quick reference:
Holdings:
14.4% Klarna
14.1% THG (IPO'ed)
11.6% TransferWise
10.4% Starling Bank (t/o roomers by JPMorgan and Lloyds)
09.8% Graphcore AI (considering listing on the NASDAQ in 2022)
09.0% Embark
7.3% wefox
6.8% You & Mr Jones (really good new entry)
5.5% Featurespace
2.5% Secret Escapes (recovery play)
2.5% Sorted
0.2% Growth Street
5.7% Cash
https://www.merian.com/wp-content/uploads/2020/12/2020.12.11-announcement-nav-as-at-30-september-2020.pdf
Wish there was an edit option. Klarna not Klama.
Klama continues to make loads of money and now valued at of 10 billion, but is a holding I hope MERI will get rid off given the questionable ethics in this article...
https://www.newstatesman.com/business/finance/2020/12/klarna-millennial-empire-started-crumble-credit-score
Officially in the digital news : The Times.co.uk - JP Morgan and Lloyds set sights on Starling
https://www.thetimes.co.uk/article/jp-morgan-and-lloyds-set-sights-on-starling-vz9gb0lfl
"The number of British banks that are considering changing ownership rose by two yesterday after JP Morgan Chase and Lloyds expressed interest in buying Starling Bank.
If the digital challenger bank was purchased, it could lead to the first big merger of an established lender with a start-up in Britain.
At the same time, TSB, the high street bank, was put on the block by Sabadell, its Spanish owner.
JP Morgan, America’s biggest bank, is understood to have talked about taking on Starling as it prepares to launch its consumer bank in the UK in the new year. Starling would give JP Morgan 1.9 million customers from day one. Lloyds, Britain’s largest retail bank, is understood to be interested in Starling’s technology.
The interest has..."
JP Morgan backed Nutmeg is linking with Staring to add some interest over JP Morgan and Lloyds...
https://www.uktech.news/news/uk-digital-bank-starling-adds-nutmeg-to-its-marketplace-to-make-investing-accessible-20201204
Plymouth1, Thank you for sharing. Tis the season to be sharing so here is my chart and the red line is the point at which we must close above to resume the old trend or start a new trend. Today we hang above it.
https://ibb.co/Y3Ldzwp
Obviously, the chart tells you that the SP is going to be higher or lower on the trend lines, like all shares, but there are bullish indicators and they all point upwards.
Well I’ve been through all the rns since September/start this afternoon and researched other info/companies and I believe we are looking at between 40-43p rise in NAV. Also the NAV update have been a bit random looking back at the others, so it’s mid December before the next one? I’m hoping Starling has thrown a spanner in the works but in theory this shouldn’t effect the NAV at this point but commentary from mc would be good. Good luck all.
Plymouth1, apologies I was not precise in my language. The Earnings Report should have been released today (hence the SP movement). This report may have included NAV. This RNS has not yet been released... hence the drop in SP again. It could in theory arrive at any moment but we suspect because of Starling Bank the financially sensitive RNS are being held up.
Agree with today’s comments.
DireEmblem it would be good to have a stab at the NAV value. Mr Flibbles do you have a link to postponed update? Thanks both.
.... DireEmblem, I am interested in your NAV guestimate but wait! according to Bloomberg, AI chip designer Graphcore is reported to be close to raising a further $200m to take its valuation above $2bn. Given the incredible growth of AI including AI ETF's then this is the top one IMHO. This means pretty much everything MERI is in undervalues the company greatly on a qualitative basis. The delay in the Earnings report has added uncertainty, unnecessarily, becuase both because of the sector and our qualitative look at the underlining holdings.
Since it has gone lunchtime today the 2nd of December, we now have a delayed *Earnings Report* for the period ending September 2020. The chart clearly expects this report and is hovering over a resistance point ready to breakout or retrace. My charts now go out the window. I am hoping we do not retrace as the overwhelming evidence is that MERI's portfolio of companies are doing really well. No really really well! It clearly does look like radio silence on the numbers until perhaps MERI are forced to in The Annual Results late January.
By Aisling Finn on Tuesday 1 December 2020
https://www.altfi.com/article/7321_transferwise-granted-banking-licence-by-australian-regulator
Thanks Gewillia.
Working on the RNS news stream, THG should add at least 9p in NAV, taking into account 2.8p at the IPO and then the share price 30th September and that’s without the 4p from the Klarna investment.
I firmly believe the 147p will look great looking today back over time, once the nav is updated.
Agree Mr Flibbles, I hope Starling isn’t lost at this point as it has great prospects of turning business banking on its head!
Good luck all.
gewillia thank you for posting. This is I suppose great news. I have been following Anna's bank for a while and was going to buy her book and follow the story as it unfolds. On a personal level I will be sad to see Starling move on.
There's a story in today's Times (Page 51), saying that Starling is in the middle of a fundraising for £200 million. But there's a twist; JP Morgan and Lloyd's Bank are expressing some interest in buying Starling Bank outright.
The article quite strongly hints that Starling's two biggest investors, one Harry McPike (who he? Ed.) and Merian Global Investors could well be interested in selling maybe all/maybe part of their holdings to the would-be buyers.
If all this is correct, and Merian are talking to JPM & Lloyd's, that might explain why they are no hurry to come out with an NAV. Starling is MERI's largest single investment. It accounts for 14% of the portfolio, or £82 million. A sale or all, or part, of that holding could have a significant affect on the NAV.
Plymouth1 you have posted what has been on my mind and many others. Merian has not released it's quarterly Facsheet either to provide an indictive NAV based on M&A values and foreign exchange rates. Despite Jupiter staff not understanding my email. I also believe, it is at the calendar year-end do we get a proper revaluation of the companies in line with other Listed Private Equity (LPE).
When I posted last time I indicated that MERI was on a downtrend. The chart this week looks to break out of that downtrend.
On Thursday the board unveiled a proposal to change the trust’s name to Chrysalis Investments Limited following Merian’s acquisition by fellow fund group Jupiter.
https://portfolio-adviser.com/merian-chrysalis-shuns-jupiter-moniker-in-rebrand/