Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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if more than three or four UK buyers started buying?
I am tempted to throw £100k at this for a bit of fun.
I think I would spike myself rather badly and give a lot of people the chance to get out at a profit.
Not my strategy, it is much longer run than that.
I bought a small holding here yesterday at 1.7. Today I'm in profit .Just a pity re f/x charge.
GLA
The f/x charge is nothing compared with what we are expecting over the next six months, imho.
I have started looking at #NorthEnerrgyASA on twitter, and made a post encouraging them on to the AIM market.
#NorthEnergyASA and @NorthEnergyASA not a post since 2011.
That will change, believe me.
Even better. New contract to REACH
https://newsweb.oslobors.no/message/511661
Suppose not dana. cheers
GLA
Took my first punt yday -Just freeing up funds for another buy tomorrow
Not quite your 100k Dana ( please let me buy first !! )but still a nice chunk
Will be interesting to see if it moves price
GLA
Nice find Norb - will add to the positive momentum which seems to be building here
Thank you Norb Tobin Dana for alerting us to North - it seems such an anomaly and a hugely interesting situation here
I have again put in another fill or kill at 1.85 with HL for £10k worth
Let’s see what happens GLA
I will look into Q2 and current NAV figures before end tomorrow. Exciting times ahead of us. I appreciate your support and interest.
Based on the assumption that NORTH still sits at cash around MNOK 140 / GBP 11,98,
******NORTH Q2/2020 estimates******
Figures MNOK / (MGBP)
Change in NAV
+ TXP 49,16 (4,11)
+ PLCS 1,46 (0,12)
+ IOX 1,05 (0,09)
+ REACH 11,99 (1,00)
- IOX bonds 0,54 (0,05)
- GE 4,69 (0,39)
= PL Q1/2020 58,43 (4,89)
= Equity Q1/2020 302,75 (25,31)
= Equity Q2/2020 361,18 (30,20)
Shares 119 047 065
Each NOK 3,03 / GBP 0,25
******NORTH Q3 estimates based on closing values August 19th******
Figures MNOK / MGBP
Change in NAV
+ TXP 22,49 (2,09)
+ IOX 1,01 (0,09)
+ REACH 20,30 (1,74)
- IOX bonds 0,58 (0,05)
- GE 4,69 (0,40)
= PL Q3/2020 38,53 (3,46)
= Equity Q2/2020 361,18 (30,20)
= Equity Q3/2020 399,71 (33,66)
Shares 119 047 065
Each NOK 3,36 / GBP 0,28
Those figures look astounding - thank you for your research
Share price catch up to net asset value has to happen
I’ve just had to pay 1.88 this morning for my top up - but v pleased still
Its often argued that you should expect to see a 20% discount on shares in an investment company like NORTH compared to NAV. Never understood why, but the current discount on NORTH is off the sheets. Also going forward.
Heads up ! I made a mistake in my estimates earlier today. I forgot the intra-group merger. I believe dividends to the minority interest was paid in Q2 (and prior to the merger which was approved in July). MNOK 140 in cash is based on the assumption that dividends have been paid.
******NORTH Q2/2020 estimates******
Figures MNOK / (MGBP)
Change in NAV
+ TXP 49,16 (4,11)
+ PLCS 1,46 (0,12)
+ IOX 1,05 (0,09)
+ REACH 11,99 (1,00)
- IOX bonds 0,54 (0,05)
- GE 4,69 (0,39)
= PL Q1/2020 58,43 (4,89)
= Equity Q1/2020 302,75 (25,31)
- Dividends to minority 21,4 (1,79)
+ Expected earnings Q2 58,43 (4,89)
= Equity Q2/2020 339,78 (28,41)
Shares 119 047 065
Each NOK 2,85 / GBP 0,24
******NORTH Q3 estimates based on closing values August 19th******
Figures MNOK / MGBP
Change in NAV
+ TXP 22,49 (2,09)
+ IOX 1,01 (0,09)
+ REACH 20,30 (1,74)
- IOX bonds 0,58 (0,05)
- GE 4,69 (0,40)
= PL Q3/2020 38,53 (3,46)
= Equity Q2/2020 339,78 (28,41)
+ Expected earnings Q3 38,53 (3,30)
= Equity Q3/2020 378,31 (31,71)
Shares 119 047 065
Each NOK 3,18 / GBP 0,27
REACH (the associated company) is presenting Q2 on August 25th. Interesting to see whether strong operational figures and utilization also ends with strong financial performance and cashflow.
REACH record results
https://newsweb.oslobors.no/message/512035
Norb, you beat me to it!
Excellent results from Reach Subsea should boost their share price today by 20 to 25% imho.
Superb new contract in the USA and good future utilisation of resources.
Leading contractor in preparation of off-shore wind farm projects with good growth potential.
North Energy will reap big rewards from this holding.
North should be up 10% today.
Impressive work by REACH despite Covid-19 and weak market conditions overall. Excellent figures even with negative impairment measures. Solid Cash flow. Goldman is holding a position of 1,2 mil shares which I believe will hold us down. This comes in addition to a lot of tired PI`s. Dont think we will fly away short term.
But most important, Q3 will be even better.
Reach Subsea ASA up a healthy 18% today
REACH didnt fly away. As expected, but it should build a strong momentum the next couple of months. We already know that Q3 probably will be better than Q2. SP is not very far from the initial investment NORTH made in REACH. Just below NOK 2. All we need is a broker or two to realize what is going on with NORTH and REACH. Not that the majority in any of these two camps seems to care much about increasing their values.
I am waiting in anticipation of update next week
How can the gap between NAV and market cap divulge so far - it doesn’t make sense to me
Is it just that North Energy Is so far under the radar or that the investments are at the more risky end and don’t appeal to the average “investment trust”
investor ?
I also have a holding in Primorus- and they have a NAV of £8m and market cap of £4m - ludicrous!! There main holding is GGP
GLA
I have been checking Norwegian corporate law. We need 10% of shareholders to call a general meeting. It is possible to vote for a London stock exchange dual listing, for even more attractive is to to call to dissolve the company and distribute the assets. Now that would be a very attractive option .