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Agree Dai
Other bb is now a underground/ covert space! :-))
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New York first US state to ban natural gas in new buildings
https://www.bbc.co.uk/news/world-us-canada-65475062
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IOG £71k sell, way below price..
BB posting two things
Drill update soon, and €100 million bond breach..
At 130p/therm this was in a RNS
"where gas prices are assumed to be 50% below the current forward curve, both the leverage ratio and interest cover ratio are forecast to be breached. "
At 81p/therm(i think) we must be looking at the sell being drill related, if at all.. ?
05-May-23 12:09:33 3.95 1,800,000 Unknown* 4.50 4.75 71.10k
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Other BB seems top secret, I dont see it appear in the chat ticker
link works, I see KevR and Tro on there
https://www.lse.co.uk/ShareChat.html?ShareTicker=GOLD&share=Gold
@PortfolioPower, I will have to have a look back through the history, so much more to add to your points, all the claims of a fully working platform, those banks originating clients, the captive bank, and its IM being accounting complaint across different geographies..
Yet, no bank originated IM, no captive bank, platform seems to have needed further work by other fintech companies, and finally the 1st IM, if in the true flavour required new Italian legislation...
So many more questionable updates..
And lots of PI lost lots of money.....
Dai.
Below is an abbreviated collection of reasons I've seen posted against SYME that their supporter have never been able to counter, so I'd exercise extreme caution!
> SYME looks horrendously overvalued for the stage they are at.
> I wouldn't buy into the hype of a stock funding deal that's going to generate something like £50k in top line revenue. Vs 50m market cap.
> Inventory lending... It's not new, it's a very risky form of lending (for the lender) that's why most banks moved from providing stock finance to company for goods (like tyres) that can easily go walkies!
> Inventory financing is very common in the retail car dealership trade, and in the manufacturing sector which SYME is said to be focused on banks nowadays lend against confirmed orders/trade debtors as its much much lower risk.
> In the scenario that a manufacturer has already exploited the traditional forms of lending and already fully borrowed against their future receipts then to start borrowing funds against their stock it probably means they are a loss making business and if they then effectively borrow twice their working capital requirements they are on route to going bust...Quickly.
> The borrowers traditional bank who will be secured against the debtor book will likely get their money lent paid back as the trade debtors are assigned to them and can also have credit insurance in place against bad debts.
> Not nearly so good for the inventory lender SYME. By the time they turn up asking for there loan back against the tyres the warehouse will probably be completely empty and a 'closed down' sign will be swinging on the door.
> I'm sure that this lend SYME have made is all nice and safe and nothing like that will happen, but as they try to scale that type of lending up 1000's of times over (which they need to do to justify theit market cap) the chances of a large percentage of these inventory loans going bad massively increases and all of sudden a loan book of non performing assets and write offs will ultimately be left for shareholders to pick up the pieces.
Good news is that it looks like its given long suffering shareholders a brief opportunity for a quick pump to get out and no doubt spike a whole new set of holders at an unjustifiable valuation.
If it was 5m market cap, I'd maybe take a very short term punt,. Not at 50m+ with only one small deal...
Not one I'd want to be holding come close of play on Tuesday as no doubt the naysayers will be back all over that bb reminding everyone of the above and unless they can counter these valid points then it's likely more dilution and pain for shareholders awaits around the corner.
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SYME, just doubled in 2 days. RNS claiming 1st Inventory Monetisation,
After so many claims of it all being legit from the start, and being globally scale-able, it looks like some new Italian regulation has allowed it too happen in some form.....
https://cms.law/it/ita/publication/il-pegno-mobiliare-non-possessorio-ampliate-le-possibilita-di-accesso-al-credito?contentLang=eng-GB
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Renegades lol
We could set up on the General Chat ?
Fidelity for MMF
Agree about the cash on the sidelines but this may go into one almighty mean reversion trade in the Bond market rather than equities once rates plateau and we may not be far off that now.
Recently Reopened a position in FRES @ 700p
Still long on Newmont from $39 - no one posts on their BB.
Would like to get back into BRES having traded it a number of times but I'm convinced a placing is about to land there. RAB capital have been supporting them so far and I noticed they have been offloading KEFI so will have freed up some funds, also BRES have a webinair and I must be the worst kept secret that they need cash ro complete their DFS.
If their short term cash requirement is resolved I'd probably look to get back in there.
Reopened a position in GGP last week at 8p as someone asked me the question on another bb when I thought would be the time to get back in there. I posted a long reply, but the short answer was just ahead of the end of H1, let see how that goes
Recently sold CNR after a decent run up from 16p
Recently sold last few tranches in KOD at .80
Have been adding heavily to my Gold and silver positions since start of year
The WisdomTree copper ETF would look interesting again below 30
Whole string of battered down juniors on watch list hitting the lows that are starting to near buy zones.
Oil and gas recently cooling off so watching from sidelines atm.
Not in any tech atm.
Had a trade in MSTR from start of year but also closed out as BTC looking toppy and won't be surprised to see that follow the S&P down over summer
General indexes 'sell in may' mantra still applies.
Probably too much cash Tied up In money market funds but happy to receive monthly cash dividends over the summer and will probably use these as free hits to deploy in special situations/ day trades and wait for the indexes to pullback as recession sets in
If my gold / Silver strategy keeps paying off the miners will surely catch up.
GDJX still a fair bit off its 2020 highs
Hi Damo
Yes, this is after the WisdomTree 3 x Leveraged ETF. I've also traded 3SIL (no one posts over there either :-))
Thought might aswell use this bb for general shares & commodities chat like the old Gold bb was used for.
Gold and Silver both looking strong on the charts
The US banks did their best to try and pull both back a touch on start of trading in US on Friday.
Oil has been dragged right down and price movi g erratically over the past week.
Fed rates up another. 25% to 5.25%.technically the fed rate is now above the core inflation rate in the US of 4.79%
Some interesting moves in the past Week.
Anyone who frequented the old GOLD chat bb feel free to post on here old and new contributors welcome
Looks like the old GOLD bb chat has been removed from the site.
First Post on here :-))