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Definitely looks like what they are selling is at a profit.
Would not be surprised if the bits they sell is for more than the present MC
Jonnieboy called it 👍
I wouldn't get too excited as the 79th Group doesn't look like the sort of outfit that will have the ability to pay much for the projects
I wonder how many 'city types' are the wrong side of the trade following this very welcome news, it also explains why someone was happy to put in £160k via a premium placing at 4.5p a share just recently.
The shares are a gift currently given today's news, however it will be nigh impossible to buy many around current levels, the market makers will see to that !
Please explain
‘ I wouldn't get too excited as the 79th Group doesn't look like the sort of outfit that will have the ability to pay much for the projects’.
Looks like the holding company provided security for Euro 96m loan notes recently (check companies house) so appear to have significant worth/ability to raise funds. In addition they are planning to IPO this year (see RNS) so again funds to spend
Good to see we have unresearched agenda driven fools like Panda on the board, 79th Group appear to have a complex and large group structure with funding coming from various sources and amounting to 96m euros in the near term. Historic filings on co house dont give much detail due to the business only being a few years old at present and limited filings.
I can see numerous references to scale here and they look very well funded.
Hemlo not on the table so sunbeam or zigzag?
Who the heck is selling this morning, seems balmy given today's news of asset sales verses a circa £3m m/cap - one does wonder if there is a short position in the stock, the sector has been a rolling short for 3 years and the instigators have made a small fortune since.
The market makers have to be part of the 'game' happy to take stocks down on tiny sells/volume yet when buyers come in they close online and go all shy until the prospective purchasers move on so the status quo continues.
The shrewd will be buying nonetheless given todays update with further news to follow.
9 mins or so in--
https://www.youtube.com/watch?v=urgseVlGif8
youtube.com/watch?v=urgseVlGif8
I can right a cheque for $10-20m now.
79th resources look the real deal, thats an excellent interview
What do you mean by $10-$20m ? I watched 3 times and I can't hear him say anything about his cheque book?
The selling appears to have come from that rather grubby outfit Total Market Solutions - they have some Hive Group as well.
They seem be fed up waiting for the shares to rise, got bored, holding too long etc, so have sold at a loss.
https://x.com/TMS_MarketInfo/status/1777612275005743513
Short termism at it's best, gives others the opportunity to acquire at basement levels !
A tad silly to be selling today, can see this recovering very well in the near term, couple or more assets sold, business model proved up, back to IPO price and with a recovering market beyond.
He says it 9.43 in, I could write a cheque for $10-20m now, think the interview is twelve months or so old now so he may have more money!
Paul Johnson recent tweet which I agree given todays news, current £2.6m market cap is pure lunacy.
@pauljohnson9691
Market responded positively to this news - another brilliant example of a company seeking self-financing approach. It’s clear to me @FirstClassMetal #FCM should be valued many times higher than current cap.
From Telegram, could be way out but whose to argue!
-------------------------------
Another positive interview on the ‘asset sale’.
Been thinking overnight what is being sold and what price do we think.
Current market cap £2.5m.
Five being sold and they are keeping North Hemlo if drilling if planned I suspect.
There are six permitted properties.
So I reckon the five under review are likely the five permitted excluding Hemlo.
Values then?????
Zigzag £3m?
Sunbeam £3m+
Esa £1.5m
McKellar £1m
Enabke £500k
That’s £9m but I am likely being over confident. So deduct 50%.
£4.5m or so
That’s 5-6p in cash.
Plus remaining projects with no dilution likely for years.
This really could be something special. Yet again people asleep on it.
Jonnie,
I don't doubt you but I wonder if I'm watching a different video. I've watched it over and over at 9.43 and can't hear about the cheque.
You can lead a horse to water….
9min 30 sec onwards
https://m.youtube.com/watch?v=urgseVlGif8
Thanks! I was watching a different video, doh! I was watching the Stockbox from yestwrday.
Puts a different perspective on things the Dave Webster video
Market Bull interview.....
https://twitter.com/TheMarketBullAU/status/1777923006263914899
From X earlier
https://x.com/StocksTurtle/status/1777965926505140258
#FCM rumours of up to £9m aggregate sale proceeds from the 79th group disposal. Serious outfit with deep pockets.
That’s about 10p per share in cash.
3p to buy today. 300% move
I saw that Hawaii, not sure if those numbers are possible, who knows, seems a tad high but I would be a very happy fella if that did happen.
Realistic 50% of that, still thats double the sp!!!
Like these short interviews, no one wants to listen to 30 minutes of self congratulation, a few snappy points, wham, bam job done!