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Opened at 6.3p to buy, ie 15% up on yesterday's closing.
But we ain't seen nothing yet!
Surprise, surprise. I thought they'd beat their deadline, but not by several days.
Stunning half year results. Underlying EPS .93p will surely support a massive rerating today. If we assume a modest 1.5p for the year, and a conservative P/E ratio of just 10 (MACF's is 14), this would suggest an SP of 15p.
This would give the company an MCap of £12m, against which the reduced net debt of £7m does not look at all excessive.
A good start to an important week. Let's hope the momentum is maintained through the results and update (which I'm sure they will try and get out a day or two before their self-imposed deadline of Friday).
As I write, I see there's a new RNS confirming that Miton sold 3.5m shares on Thursday (to PG of course).
I expect we'll soon hear that a further 3.5m went to PG on Friday, taking Miton down to 3.15% and PG (presumably) up to 8.38%. We will see!
Only three days and the fog will lift.... Twooo
He managed to buy 3.5m at 4p - beats my top up last week at 4.5p.
Anyway, the SP is now starting to respond - 5p to sell - so he's already showing a 25% return.
followed PG from time to time over the years. He has had a few howlers like Trap Oil (resurrected as JOG) and Leeds Group . Just buys stakes- doesn't make bids.
Am amazed. Two positive rns issued at 07.00hrs. Share at all time low and nobody jumps in. I would have added straight away but I already bought all my holding by Friday...Shows there still is easy money in Aim for the early birds..
But no RNS re Miton yet, so we don't know if they are completely out.
That's institutions for you, Mr BB.
To their credit, though, they have been consistent: they bought (@25p) at the wrong time, and they've now sold (@4p) at the wrong time!
Interesting that Miton, having decided to exit their investment here, were prepared to do so at any cost, despite the improvement in trade this year
...will show a substantial improvement over the previous 6 months and also an improvement over the comparative period".
This, together with the Peter Gyllenhammar news, should give a much-needed lift to the SP this week.
Yes, as we thought. One of the 3.5m sales was a buy - by Peter Gyllenhammar, ex CEO of Volvo.
There we are. Both questions answered. Looks very promising...
Well spotted. Next week we will see methinks.
This website is now showing delayed publication of 4 "sells" of 3.5m at 4p (tho' some could be buys of course).
So it looks like Miton are out, or largely out. I wonder who took such a large holding off them. Could be a stakebuilder, I suppose.
spindok - where have they been showing up? They haven't shown up on this website, or on the London Stock Exchange website.
One of the ones today was mine!!
I have them showing up as sells at 4p. Two lots of a million...All today are buys and so somebody mopped them up..
spindok - are you just assuming Miton sold at 4p, or do you know for sure, if so how?
Four buys today... at .9 above Mitons sell.. Never understand the ways of the markets..
Interesting that Miton are unloading before Results , which are expected to be reasonable together with the possibility of as stronger outlook statement than expected -& we are in our 8th month of FY21.Cru is a tiny dog of a share & has been a poor or very poor investment for most shareholders, including Directors PDMRs -so far .I presume Directors/PDMRs are currently in a close period which "could" present a speculative opportunity to buy while Miton are unloading , before a positive results & the opportunity for Directors /PDMRs to buy more at these prices.assuming nothing untoward in the Results ( despite the delay) & a positive outlook our SP could easily regain double figures .In Boards interests on every level to get the accounts signed off & publish Interims shortly afterwards
Silver, there was more than £30k available at 4.5p this morning . Maybe worth reconsidering choice of broker.
No 2M sell has appeared in the list of trades, so presumably Miton found a buyer(s) to take most of them in a private deal(s). If a buyer was thereby taken over 3%, there should be an RNS. Let's see.
Agreed. I tried to buy more this morning but nothing available
Thanks Spindok. Just seen the RNS. That’s 2m more jettisoned if my mental arithmetic is correct, so 9m odd to go maybe. Makes no difference to my feelings about CRU (unless Miton know something to contradict the recent bullish pronouncements from the company!). And it makes no difference to where the SP will settle once Miton are done. Indeed, with Macfarlane reporting that their 2020 will in the end be largely unaffected by Covid, then barring gross incompetence or exceptional bad luck, CRU ought to 2- or 3-bag over the next few months.