Firering Strategic Minerals: From explorer to producer. Watch the video here.
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There was (Allegedly - I have not seen it), a broker note out from Liberium, highlighting how close to the debt covenant DWF was, and the note even forecast a placing [See extract posted on other site]. The fact that DWF did not inform the market on profit, was a red flag. I am inclined to agree with the broker note. While, they may not need a placing, its not sounding great over at DWF. The free broker note from Zeus talks several times about cost savings providing upside, so again not a great proposition currently. I hold a fair chunk of DWF, and for me it is now a hold, rather than a buy. I will wait and see. I have also reduced my trust in the company due to the lack of transparency from the TU, which was deliberately vague, and did possibly more harm than had the truth been stated. DWF really need to get the debt under control, by possibly reducing the dividend or suspending it, hopefully not resorting to a raise at this level!
I shall focus on other stocks for the time being. Thought, it is crazy to think how much this was tipped at the beginning of the year, with £1+ targets.
Refreshing to see someone on these boards being able to take a step back and reevaluate openly where they’re at. Hope this works out for you Dartron. For what it’s worth DWF do have some very good clients and a decent reputation, but I do fear they are going the same way as the other listed Legals who thought they alone saw a way to leverage their legal services into something greater - and paid a very high price for trying.
It seems odd that a Trading Statement (in reality a turnover statement) was issued at all after the April Year End given that they will have to publish their full numbers soon.
It all seems very underhanded. The shareprice has been mysteriously drifting and that appeared to present an opportunity for traders like me, but now we see it was drifting for good reason. It's not right that we've been left in the dark like this.
Sold 70% of my holding last week, only because I can tell this is selling off. I suspect the placing is a done deal, much like Jadestone energy which sold off to the placing price before the placing was announced. Question is, what price is the placing? I thought 50p, but we have just dropped below that.
Does anyone know if there is stamp duty when you participate in an open offer?
Looking at the volumes I am personally hoping this is retail panic selling with little substance.
I continue to hold as making quite a paper loss right now, and will ride it out long term.
I do believe in this company, although communication isn't what it should be.
Sir Nigel in the TU referred to the company performance and business as "Robust".
According to the dictionary, robust means;
a: having or exhibiting strength or vigorous health
b: having or showing vigor, strength, or firmness
c: strongly formed or constructed : STURDY
d: capable of performing without failure under a wide range of conditions
Since they are lawyers, they will always choose their words wisely.
I can't see the negative yet, just speculation. I hope I'm right here and this will correct very soon, time will tell.....
I published some thoughts on DWF, have fancied making a few videos. It is not advice, just observations.
https://www.youtube.com/watch?v=Sa9qAT1O8Fk&ab_channel=DartronTrading
Turning a corner perhaps?
A quarter a million £ buy! surely now the only way is up?!