The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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and another
https://www.youtube.com/embed/y4IMr3QwvfM
Not sure what to make of this - was it to impress the Paragyuains or to drum up enthusiam for wider participation?
this is the sort of thing I was hoping for - for them to convert some of the possible deals in the pipeline to JVs or other deals to start building the business. There recent appointment with the experience he brings will also be of great help negotiating ammonia/fertilizer deals. Hopefully the sp will start to respond positively.
Atb,
Northern
Never any progress with iceland, no rns, not convinced with getting involved with these other countries, time will tell, go same way as ppc.
The JV looks like great news - all they have to do now is execute!
Big vote of confidence from new sppointee - all falliing into place imv.
Good to have a promotional video but would be even better if they could add a few more deals from their pipeline.
Atb,
Northern
The project progress looks good to me and importantly they seem cogniscant of the need to avoid dilution into the future.
'ATOME, which is fully funded to FID of the Villeta project, is therefore optimistic that it will be able to successfully fund the 120MW facility within the specific purpose Villeta project vehicle without the need of direct funding into the vehicle by ATOME'.
re: interview - I had the same discussion on tactical step taken by two other CEOs . . . was satisfied with both of them. One is on song with a 13-well promising MS gas programme, the other nicely proceeding with higher Au production.
I now agree capital markets are tight and will become more so. Generally it's time to hunker down for an indifferent period (= recession).
what do you expect? PL is a charlatan. watch every PI lose on this in time. I hold some and should have sold 120p, this is going to pennies with PL involved. thank goodness I did not fall the the RI. cheaper today already. messers this lot
hasn't made more deals yet is already raising cash and the sales compared to the buys today tell a story. The management here talk a good story but they and the wider group don't appear to be able to deluver.
They've talked of Paraguay then we find out it's for 17% cos. No farm out 're the gas field. Not seen anything 're plans for drilling next year. For years they've talked about acquisitions and not made any. Still not sure what this Lithium venture is going to produce.
I can't remember either when we last had a strategy.update from PL either.
So very sadly for all us shareholders the management have talked a lot but are not delivering and it's gone on for some time now. Probably explains why it is out of favour with potential new investors. I cannot see PL pulling any rabbits out of hats either.
Atb,
Northern
Thanks all for the comments and corrections. I've been watching this since the IPO, but have not bought shares yet, mainly because it's going to be a long time before they have any significant income and it was obvious they were going to need more funds before then. So I'm with skier.
While "it's what they do with that cash and why they needed it! It wasn't that long ago with the Times share tip that she mentioned a raise wasn't required in the short term!" Well the Times must have meant short term in terms of days, or the reporter did not know what he was talking about. At the interims they had £1.6 m net cash and were burning it at the rate of about £7.5m a year. I would imagine that rate would increase as the installation and staffing ramp up. So they will need more in a few months time again.
Taverham, you are quite right of course, BUT it was almost a denial that they would be going back to the market for more money, and that was just misleading.
I shall continue to watch with interest, but it's likely to be months before I invest.
The director support is substantial and I think that means the sp will hold up well. In the not too distant future I expect a bid from an energy major for this company.
Not a direct shareholding in ATOM, although I do have exposure due to my MEN holding.
I would say just over 10% is 'not' a heavy discount in this market with a 8% dilution (that's pretty positive TBH) - it's what they do with that cash and why they needed it! It wasn't that long ago with the Times share tip that she mentioned a raise wasn't required in the short term!
It may drop tomorrow to near the raise price, but it also may well have some support as its not a large dilution. I wonder if MEN took part in the raise or will let their holding % drop lower!
It may turn out to be a very good move to raise this cash at this stage - time will tell - it brings new shareholders in also!
Good Luck!
ATOM Is losing millions, the marcap today sits at a lofty £38m, and now management have started diluting shareholders with a heavily discounted fund-raise(s). Will keep this one on the watchlist for now. Suspect this might drift back down toward that old 50p low in 2023, as sentiment is likely to turn sour after the dilution.
Hardboy, the Directors had no choice but to waffle because to say anything about near term plans would have undermined the then sp and thereby the fund raise. So behaviour was predictable and designed to help company . Just wish i had not bought last week at 1.20.
The discount to the current SP is relatively marginal in the current market conditions, which is reassuring. This won't be the last fund raise though and the extension of the facility with PLLG, with a price of 80p should act as a cloud for some time.
Hi Hardboy- Have another read of the first RNS. The £2.7m has been placed, in part with suppliers and directors. They dont have a target for the PB raise, it looks like they have introduced it so current holders can get in at the placing price if they wish. They have no target for the PB raise as far as I can see
Last Tuesday they gave a webcast. I specifically asked what plans they had to raise additional funds and they waffled a bit about project partners providing the capital when required: absolutely no mention of going back to the market; and less than a week later we have a Primary Bid offer to raise £2.7m. I accept they did not want to give specific details, but basically the Board of Directors have deliberately misled shareholders. What do shareholders think of that behaviour?
It's still 30 months from production. Wouldn't mot would be predators wait till there is something more tangible to buy