Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Held extremely well into the close above resistance, a little bit of profit taking into Friday nothing out of the normal (people need their booze money if you know what I mean) Key resistance next week is 80p , if that breaks then this is going to test the highs at £1 and with all the euphoria around new companies like GATE this could really fly. 80p the level to watch, GLA.
If you're investing here you're investing on two things: (a) the idea (b) the team The idea is unusual - a main market SIV that they will RTO a natural resource company into in order to give it a main market listing. Not 100% unique (MITH are doing the same) but very very rare to see on the main market. The team are top-drawer with a wealth of relevant track record and expertise. This is why they're doing this in the full gaze of a new main market company, as opposed to hiding behind the (*cough*) "light touch" regulation of AIM. Cash on the book is not much less than the overall MCap, and they have said they'll simply return cash to investors if they don't pull off the RTO. Thus downside is pretty limited whereas with this team and idea the upside is very significant. If you want opaque deals and dodgy characters, feel free to lurk on GATE or WRN or wherever. However, AUCT looks to be the real deal.
(the below is from the IPO RNS) "The Directors Malcolm Alec Burne Malcolm started his career in stock broking as an equity analyst and then later as investment editor of The Financial Times and Telegraph group. He has managed and controlled fund management, venture capital and investment banking companies in Australia, Hong Kong and North America. Malcolm has been a director of over twenty international companies. He was the founder of resources stockbroker, publicly quoted Ambrian Capital plc; the former chairman of Australian Bullion Company; the founder and non-executive chairman of Golden Prospect Precious Metals Limited; he also currently acts as an advisor to Altus Resources Fund, an investment company focused on the natural resources sector and is a director of Arlington Group Asset Management Limited. Charlie Cannon-Brookes Charlie is the Investment director of FCA authorised Arlington Group Asset Management Limited and has been active in a variety of investment management and corporate finance transactions since its acquisition in 2004/2005. For the previous five years (2000 - 2005), he ran Arlington Group Plc's proprietary trading book, managing all of its public equity exposure. He has extensive fund management experience and has advised and sat on the board of a number of other funds, trusts and companies in a non-executive capacity. Nathan Anthony Steinberg Nathan Steinberg, FCA, FCCA, TEP, is a partner in the London accountancy practice of Munslows LLP and has considerable public company experience. He previously served as the finance director of Pan African Resources plc and as the chairman of East West Resources plc. He is an experienced corporate and financial adviser and is a member of Council of the Institute of Chartered Accountants in England and Wales. The Founders The founders of Auctus are the board members and owners of FCA authorised and regulated Arlington Group Asset Management Limited. They are Malcolm Burne; Charlie Cannon-Brookes and Richard Lockwood. Richard Lockwood Richard is a director of Arlington Group Asset Management Limited. He was previously the senior resource fund manager at CQS Asset Management Ltd having merged his New City Investment Management group with CQS in 2007. Prior to that, he was a senior fund manager at Invesco and a partner at Hoare Govett with responsibility for the mining department. He has held fund management positions at City Merchants High Yield Trust Plc, New City High Yield Fund Limited, City Natural Resources High Yield Trust plc and Geiger Counter Ltd. Richard has extensive experience in the financial securities markets in the United Kingdom, Australia, and South Africa and a number of his previous funds have achieved long term, top quartile ranked performance."
People have started taking there positions after seeing what GATE has done over the last week or so.
If we can break 80p should have a stormer next week!
I've been here for ages. I know the team involved from NCIM and GPM days, top notch natural resource guys. Am happy to invest on potential and track record. It's low risk since they'll return the cash if they don't find a suitable RTO target. It's very unusual to go to the effort of making a main market SIV like this - which in turn will allow a RTO onto the main market. Happy to ride this until they do what they plan - can't be much longer now, I think they have ?4 months left to do a deal.
No worries. £1 would be nice, but this is still a drop in the ocean as to what it could be with the right deal... Potential over substance ofc atm.
What's your take on this one? Small free float, listing and small mcap tempting you to go long?
I was indeed :-) That tickled me okenia. Taxi for Blowster.
I think uncle was correcting your implication this was an AIM share. Oh god I sound like I'm on the WRN bb ...
AIM?!
A few sellers will help with liquidity as there aren't many shares knocking about. This has masses of potential and this is only the very very start!
with such little free float this is going past £1
Sold some gate holdings and taking a few here it seems.
The next multi bagger. With 2 mil shares in issue with the right news this one could bat over and over again.
The next multi bagger. With 2 mil shares in issue with the right news this one could bat over and
hold on chaps they need all my shares, cant buy at the moment.
£1.50
Paying 80 now wow
yup £1 on the cards, market makers have no stock
Looking good for £1 possibly
Doing a GATE :P GLA
good to see this moving up trying to also watch wres as it looks may move up more again , hoping for a good move up here this after noon also at auct
Getting excited now lol
I have just put my profit from gate into here today..... Looking forward to a nice rise this afternoon.