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My take on yesterday is one or more significant buyers stepped in, and after trying to go lower for many months they did not find much on offer until near resistance, which will be 0.60 to 0.70. Usual trend following then happens. No reason for an RNS, unless, which is all too common on AIM, some good news has leaked early and connected parties got in early.
Need to see continued good volume this week, no need for news but must get buyers to hold or go higher in my view.
Between warrants amounting to 300 million shares, the buyer on +20million shares at 0.60 on the refinancing news that has never seen a positive mark-to-market, tons of stranded longs, and the ever present risk of a raise for working capital, wise to keep a close watch on any new buys "for the breakout higher". GLA
DaveyShares
I am more than familiar with the financial situation at all the companies within the Angus group. They made a loss. It’s all available from companies house for all the Angus offshoots if you care to look.
If you cant be bothered I suggest you have a think on why a company that Tony thinks made £117 million profit needed to take £9 million in bridge loans, and added a couple of Billion shares to the register during the period.
I should also have a look at what the 300 million warrants available can be sold at before anyone gets carried away and trapped on the spectacular rise yesterday with seemingly no justification.
DaveysShares: Your attempting to correct WG818 in this way suggests a short acquaintance with Angus on your part. They didn’t make a profit last year. The sum you refer to is a writing-back of a large part of the larger loss of the previous year, reflecting the implied revised future value of their forward contracts. No money has changed hands in respect of this re-valuation.
WG818: I agree with you that there ought to be an RNS tomorrow at the opening, either explaining what’s going on that might explain today’s rise or stating that the Board can’t explain it. Or setting out the terms of a large new equity issue for working capital purposes.
WG818, it's not really relevant that one company in the group made a loss. What is relevant is "The Group recorded a profit of £117.810m".
All the income is in the subsidiary companies hence why "the Company" (ie the holding company) makes losses.
Clive - More apologies - all my decimal points were in the wrong places.
Correction is:
Circa 50,000 therms/day is the current hedge requirement - ie ~ 0.1400 mcm for which Angus currently receives 35.60pence/therm.
The balance/day- for which Mirasol has provide the figures - is sold at market rates.
I think you had better read the accounts again Tony!
3. Profit/(loss) for the financial period
The Company has taken advantage of section 408 of the Companies Act 2006 and, consequently, a profit and loss account for the Company alone has not been presented. The Company's loss for the financial period was approximately £5,475,000 (2022: £2,168,000).
Really not sure what has occurred today as nothing seems to have been reported or changed, but I would expect an RNS from the company in the morning with an explanation.
Ermmmmmmmm yeah TC,,, That's why they are still £20 million in debt AFTER almost 2 years of production,,,,, £117 million profit !!! I think it is far more likely something else, not the undermined SLBY.
It's beginning to dawn on the market that Angus recorded a profit of £117.810m (I know there were costs/offsets etc!) yet the Market cap of Angus is still only £24million!
Have some faith guys, plenty legs in the old dear yet. I do understand your pain though having experienced it myself.
Highest close since 21/12/23 when it closed at 0.575p.
Shhhhhh
As a long term sufferer, I don't wish to be a party pooper, but if this goes to form, we've had the rise now we'll have the slow drip downwards to below where the excitement started. Hope I'm wrong.
Now mate, I hear you, to be honest if this does go another 50% i'd prob sell out at a £8kish loss as I can't see it going mental with it's history
Lol Philboro, I hear ya, and hope you do see more substantial upward movement, though I know when I have been holding stock in similar out of the blue rallies, it triggers a lot of personal unease, in do you simply carry on and hope there are grounds for it and it is just the start, or is it more sinister and comes off just as hard, I know from my past experiences what i would lean to do, but it is also so easy to get carried along with the unknown too...
Best of luck though mate, been a tough one for many,
Struggle to bring the two align if I’m honest. This move because of large buyers willing to pay over the odds.
Oddly SENX up bigly today and their BB asking the same questions. Might just be small cap volatility? We shall see in the next few days what is driving the sp.
Hi Bubble, TBH mate I'd rather have no news for next couple of days and let the herd come and watch MM's let it go, usually good news on here ends in a drop, two more days of this and I'll break even lol
Be interesting to see if anything uber positive is RNS'd in the next 24-48hrs, as that would really show this as about as leaky as a cullender !!
Another biggie showing 8.5mil this time. Not a coincidence in my opinion, something is driving those material buys!
BOD’s buying 🤔
I disagree Mals, hype is way better with this share !
In fairness Maddog, HITS may well be silent based on "we don't know what is behind this little flurry", even I am surprised, and I really do not feel it is related to SLBY, could be something Balcombe related or other, that said, I am still happy to see folk having a better day here !!
And I have always maintained it will have it's day again, just don't know where, don't know when !! but it is a start !!
We need a RNS to hold this rise or I'll drop
Bubble/ we never see hits when we get a brake
And another 1 million shares bought at 0.56
Delayed trade at 17;10 :-)