The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Will help liquidity and out of BMN which doesn’t look like will deliver much over the short term. Let’s hope the funds are invested wisely…
If they are made yes, that's £910k on a mcap of less than £4mil, very positive
If all the payments are made its definitely a positive for prim
*more than ~50% loss
Updated investments on the website today, Landore has been removed. Prim bought 1mil shares for 0.225 GBP, so must have sold at ~50% loss as current price is 0.0825
Another major event would be a fresho ipo
It seems to me that they are waiting for a liquidity event, either BMN (unlikely at this point, although there are many supporters of vanadium), or the WeShop IPO, if it happens later this year, sometime next.
Like watching paint dry, but it depends on your time horizon.
Although it is considered a non-core holding, there was an update on WeShop last month: https://uk.finance.yahoo.com/news/iamfire-plc-weshop-060000457.html?.tsrc=fin-srch
If there are 28,669,415 weshop shares in issue then our holding of 150,199 shares at a fundraise of £4.76 per share gives us a value of just over £700,000. The update gives some impressive growth figures as seen below, so our holding could increase substantially if Weshop goes ahead with its listing in the US:
- User downloads for the WeShop platform as at 31 May 2023 were over 230,000 up from 43,000 last reported by FIRE on 21 November 2022.
- Total purchases through the platform now total over 180,000 with an annualised gross merchandise value (“GMV”) of £33.4m
Good to see Fresho making inroads in the UK too: https://www.linkedin.com/posts/fresho-_supplier-growth-activity-7077223719399526400-xrhr?
Sounds like they’re struggling to me.
Some common sense in amongst the usual corporate bs.
Nd
Not tried Testing, thanks for the engage info.
*Innovation Fund grant
Engage awarded Innovation Fund
https://www.linkedin.com/posts/engagetech_newangliagrowthfund-erdf-innovation-activity-7067502380614828032-_Hwx?
Greg have you tried contacting Rupert at all for some feedback or an update? I tried via the prim website some time ago but didn't get a response. The investment page was last updated on 2 Feb
There appears to be radio silence on any sort of updates in Prims investments. rambler has been delisted and BMN credit note proposed purchases. Surely these warrant an RNS? Since the regular updates stopped it all appears to have gone stale here last notification was dating back to September. It’s no wonder there are very few trades.
Interesting RNS from BMN this morning on refinancing the CLN facility.
On quick perusal not sure how it affects PRIM, but it could be that PRIM could be about to get paid out and become cash rich.
All those cheap alternative energy opportunities await!
No RNS here though as yet.
28-Apr-23 15:30:44 2.965 44,868 Sell* 2.90 3.10 1,330 O
28-Apr-23 12:17:19 2.965 10,000 Sell* 2.90 3.10 296.50 O
28-Apr-23 11:59:52 3.10 150,000 Buy* 2.90 3.10 4,650
27-Apr-23 11:22:52 3.10 100,000 Buy* 2.90 3.10 3,100
Someone possibly accumulating at this level.
Indeed true they have no shares in BMN, but they will still have the CLN's (previous sales were RNS'd I think) , and until the shares get to something like 9.8p then there is no point converting as until then they can't make a profit.
But I think undervaluation of this sort of share goes with the territory, RGO is one I follow, not presently invested, there investments make up much more than the market cap.
Would be nice to get a bit of info from RL, cheer us all up a bit.
Ho hum, they'll be in favour one day....
Share your frustration, but is was confirmed that Prim hold no shares in BMN, not sure if we still have any CLNs though. Overdue some news, however, not expecting any substantial uplift soon. RMM, CPH2 have obviously been poor investments. Slow burner still and hoping for a couple of stunning exits which could double or triple our market cap.
Difficult to argue with that!
Despite all the hullabaloo over Global Warming much of the Net Zero type investment market, where Prim appears to have positioned itself, is very much out of favour at the moment.
One that caught my eye this morning is I (x) Net Zero IX. up today after the CEO increased his holding from 3% to 11% yesterday but market cap has declined from £62M at IPO 12 months ago to £8M today. Haven't researched but it appears typical of many alternative energy type outfits where valuations have been hammered recently.
I think the "great hope" now lies with many of the investments made previously, such as Fresho and We Shop which may provide something of a return within perhaps a reasonable 12 month timescale.
Part of the problem is the investments such as BMN are effectively underwater and can't be sold at present to provide new capital.
New capital when the Net Zero type outfit valuations are really low could provide a bit of boost here, if we get a windfall payment from one of the other investees.
Well we seem to be approaching, yet again, RL's buying zone, so maybe we'll see some activity there if we dip much lower.
Hope springs eternal.
Well… .. I’ve been waiting for years. This has now got quite boring to say the least.
ALTE half year report released today.
Nothing really newsworthy, except directors are "encouraged" by the potential opportunities.
Bearing in mind the recent market turmoil (IMHO) there should be some offerings available at much lower prices than say 12 months ago.
Maybe playing something of a waiting game, hopefully.
If they can find few buyers and sell for $120+ millions (very much possible compare to their assets) our investment will back .all we need here to find lots of buyers as rmm board proved themselves inefficient with a huge potential asset.
Any one find any potential buyers e mail them about rambler sale documents before 19th May.hopefully as a investor primorus will find lots of buyers for rambler.
It's now under sale process under monitor ( grant Thoroton, canada) .
Rambler has total $55 millions of debt and $30 millions of deffered tax asset.So in reality it has 25 millions of net debt compare to 428000 tons of copper and 230000 ounces of gold reserve,all plant machinery equipments , all licences for mining which takes years to get for a new miner ,little deer complex which also got reseve of lots of copper etc.
Rambler was a producing mine few weeks ago before they failed to refinance from newgen which we believe a personality clash between rmm ceo and new gen board.the assets is there all we need to find few buyers who will fight for it and give us fair value compare to recent M&A in this field .
Rambler heading for voluntary Liquidation, cant see any come back for this one, CPH2 looks like its on the bounce back up.