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That's not a roller coaster - more of a bungee jump without a rope!!!
Is it any good??
Will have a look!
GEMD - as in Gem 'Dog' Diamonds - lol.
Low valuation alone is good to push the price of illiquid stocks when sizeable investor wants to buy and build a position, but that can only do so much.If we see volumes dwindle over the next few weeks,it confirms the view that it was a financial investor buying up, and the price will drop as fast as it moved up, till the next positive newsbyte.
The 1st half earnings should be out next month, along with any revised guidance, and that should probably drum up more interest
What are ur other stocks with low values nemo! Could do with a new one
That's a VERY good question 4C.
There are certainly more buys than sells in the few weeks, and from what I can see many of them look like most PI buys, with a few chunkier sales in the range of 500k -1m shares, so it looks like real buying and the spread has come down in the last few days too.
But as to why? I'm not sure. Maybe it was just the very low valuation, but I have a few other stocks with similar valuations and none of them are showing any signs of waking up.
Do you have a target for next 12 months 4C?
@mcatee aka rocketfuelman : that is still close to my 6.9p target
Why is it up so much this month? Definitely can't be that last RNS
I'd pretty much written these off but looks like I might have a chance of getting back to the 14.3p I paid for one tranche 3 years ago.
Not much chance of getting back to the 153.81p I paid for the other tranche 9 years ago...
4 Corners!!! WTF!!!! Your July target price was way off - a complete load of b11k5!!! 12p here we go - hold on tight
Top man! Keep following the mac
VAMOS CHICAS, Just put a down payment on my brand spanking new Fairline 50GT. Hope you all made as much money as me on this BABY VAMOS!!!!!! Will be thinking of you all who didnt buy when im smoking a cuban with 8 italian models on the back of my yacht off the coast of sardinia next summer............. over and out.
Not to forget Gms is far from its hay day of making 100k a day from its largest boats. Currently on about 30k a day. Highly cash generative but still scope for a lot more to come. Of course with a lower interest rate now they will pay off the debt quicker now also.
I did suspect a positive RNS was imminent. Trading volume has spiked massively higher (in relative terms) over the last couple of weeks.
This is a very positive development and further de-risks the story for me. Mainstream institutions don't want to touch it partly I think because it falls over on their stringent DTR/Governance rules.
As to valuation, it's absurdly undervalued if you believe in the continued deleveraging. The transfer from debt to equity value over the coming years (2024-2027) is eye watering. A re-rating to 8.0x EV/EBITDA (entirely reasonable and consistent with historical valuations), Net Debt down to $200m and EBITDA of $95m easily takes you to a share price of c. 40 pence. And one can easily see a scenario where they are debt free by 2027 - so plug that in to your spread sheet and you're well over 50p.
Morning all, has anyone run any numbers on this recently? I have to admit I’ve got a bit board with this one and just parked my holding in the maybe one day bucket! Always seemed like the leverage and financing costs where the anchor, is there some light on the horizon? ?
Mr 4Corners! You clearly have some super power! What are this weeks lottery numbers please sir?
Approaching my 6.9p target for July '23
Mr4Corners - Stay away from twitter it is a timewaster and is just a brainwashed leftist cult of zombies
The lids about to blow! Countdown commenced!
This years prediction is "18p by 31 March 2024 and on the same date I will be considerably richer the Mr 4CORNERS"!
Just topped up a few today!
Good luck all believers!
See this tweet on the warrant exercise - http://twitter.com/Magnus12316/status/1674674138969956352
Hi Mac - welcome back to project Tortoise we missed you - the board has been very quiet over the last few months - just like the SP.
I'm curious. What grounds do you have for thinking that it's up, up and away for the SP??
The only way I can see that the SP will sky rocket is if a rival party starts to make a bid, then it could get interesting. BUT with the two partners holding more than 55% of the stock someone is going to have to be able to drive a wedge between them. That's the only way we'll get rich. But I do agree that the value is there, the rigs are almost certainly worth more than the debt at the moment and the market vale of £61m is very low.
And, the current SP is above the warrant price of 5.75p , so it's possible that some 137m shares might soon be available. Would the bank hold on to them, or sell them, and to whom? Now those are good questions :)
By popular demand, the Mac will be making this years prediction on Monday at 10am GMT
Resurfaced right in time to collect the loser's award from last year's prediction....
The is your captain speaking, Rupert Carruthers-Smithers - one of BAs finest!
We are taking off shortly, clear skies ahead, set up watches for 15p!
The Mac and Brunette are back in business!!!!!!!!!!!
Or the chance there might be a crash.
I guess your message signifies we have reached the max price
Fasten your belts