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Don’t ignore Montanaro’s ‘buy’ signal for over-sold UK smaller companies
‘Every valuation metric is telling you to buy at this level,’ says Montanaro Asset Management's chief executive after lifting its stake in Montanaro UK Smaller Companies to 6%.
BY GAVIN LUMSDEN
A version of this article was published in the Telegraph’s Questor column earlier today.
A significant investment in Montanaro UK Smaller Companies (MTU) by its fund management company has flagged a contrarian buying opportunity in the investment trust and for UK small-cap funds in general ...
Why not make another prediction? It could hardly be more ridiculous than your last effort.
What will that do to the market cap?
Results of Annual General Meeting
Angus Energy (AIM: ANGS) is pleased to announce that at the Company's Annual General Meeting held earlier today all resolutions were passed.
THERE are, NOT "their are" - mind was elsewhere!
Scroll down and their are some higher prices further out, eg Q1 25 is at 93p:
https://www.ice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5600725
What external factors ? Have you quantum leaped here ?
What "external factors"? You were punting the funding being signed off as being the core reason behind your farcical prediction of a rise in the ANGS SP to 1.5p.
Well, reality check for the afflicted. The funding was signed off, but rather than trebling as per your assurances, the SP has actually fallen a further 30% from the point that you came up with your latest fairytale.
If timing is off due to some external factors then so be it. End game hasn’t changed and you will, with absolute certainty, see 1.5p in the near term.
Onetomany, the guy who assured everyone in January this year that the ANGS SP would be 1.5p or more by the end of March, is doing his best to ramp the unrampable again, I see.
Just for giggles, here's his laughably ludicrous post from 3 months back:-
Onetomany Premium Member
Posted in: ANGS
Posts: 243
Price: 0.50
RE: Positive indicators 5 Jan 2024 14:35
Barney I think once funding terms are clarified and signed then that in itself will have a major boost. Gas I’m expecting to reach 120+ over the coming cold months and a storage partner update also due within Q1.
Take a look at the CPR and the many references to it by the BoD. End of March I expect 1.5p of not more. It’s all upside from here.
Overly conservative Ocelot. Aside from being grossly undervalued today, as clearly indicated by the board, we have so much more positives to look forward to in the near term.
- Brockham flows
- Balcombe appeal result and forward plan
- Revised CPO (I believe)
- Increasing gas and oil price forecast next 6 months
- strong operational cashflow
- stronger balance sheet month on month
- Director share purchases
- Acquisitions
- Gas storage plan development
- Takeover approach ?
The latter highly probable if the share price stays below 1p for much longer.
Oh good, that’s all right then. The only way Angus shares will get back to that level is if we have a very large sustained rise in the gas price. It will have little to do with EV/EBITDA. It will have everything to do with a gamble on gas prices. For which you’d do better in the derivatives market, where Martian levels of capital expenditure, royalties, dilution and unlucky bets by an increasingly expensive management team are not an issue.
CORRECTION of my post of 09/04 at 11:27:
If one assumes the EV/EBITDA multiple is currently about 2x, then a multiple of about 8x would give us a share price of about 1.30p.
I've just pulled up Singhie's most recent post on Angus (of 20/03) and his share price forecast was 1.34p and not 1.51p, as I indicated in my earlier post, so, by different routes, one arrives at almost exactly the same share price forecast.
I guess we will see, I was in this a few years ago and doubled my money when I sold it around 1.6p.
Im expecting can quadruple my money this time
""Been building a position here since yesterday. The SP is way oversold.""
Ermmm yeah right oooo,,, that was being spouted at 1.2p, 1p. 0.8p, 0.5p, 0.4p, and 0.3p !! without clear info on Trafigura deal and without a clear & formal word on what is being done where, and exactly how it is all to be funded then oversold is just YOUR speculative view lol...
Been building a position here since yesterday. The SP is way oversold.
Haha, painful isnt it! fingers crossed
Absolutely no idea, Barney182, a decision could come any time.
So do we have another 17 days at least before an answer do you think Ocelot?
The Easter legal term began yesterday and runs to 24/05. Below is an extract from Free Frack Balcombe's timeline:
November 2023
1st November 2023 Another round of fund raising is launched to fund our Appeal. Crowdfunding site launched at https://www.crowdjustice.com/case/stop-balcombe-oil/
October 2023
31st October 2023 We lodge our application for permission to appeal to the Court of Appeal.
15th October 2023 Judgement received from the High Court rejecting our judicial review. Our judicial review has been rejected.
July 2023
19th July 2023 The High Court heard a judicial review of the Planning Inspector’s decision to grant permission to Angus Energy to flow test for oil at Balcombe.
https://frackfreebalcombe.org.uk/latest-news/flow-test-diary/
CORRECTION: in 3/ "He speaks of considering drilling" instead of "considering drilling THEM", to make it clear they are not planning to drill 4 wells, the planning request for 4 wells is to provide them with a choice of options.
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling probably from mid-2025 onwards.
Was there anything about how they’d pay for it all?
From 02:25 RH explains the capital projects at Saltfleetby currently being undertaken or planned.
1/ the booster compressor is on track, being constructed for the company in the US and planned for installation in Q4:
2/ noise abatement measures for the site, the compressor "hoods";
3/ working on a planning request for up to 4 new wells. He speaks of considering drilling them probably from mid-2025 onwards.
For those who haven't listened to RH's interview:
they are currently working on a planning request for up to 4 wells at Saltfleetby, in order to provide them with options when the time to drill comes:
now looking to drill from mid '25.
Welks,
I am not trying to convince anyone, Ocelot speculated that I had not watched it, and I have not, I couldn't give a fluck about pumpy webcasts etc,,, they have little to zero value.
I will let you know first, IF & WHEN I do punt this in the future lol.... as it stands right now, not a hope in hell until they state something factual regarding forward plans and funding for it.
NEXT !!!