Firering Strategic Minerals: From explorer to producer. Watch the video here.
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I’ve been concerned that someone is shorting the company for some months now. I think it is entirely credible that this is going on with the shorter’s objective being to acquire the company at some lowball price ie if the SP drops below 20p then a lot of shareholders may accept eg 40p to sell up? (Or less perhaps as INFA will struggle to raise again in my opinion after this last debacle).
The company owns a great spread of assets given the future potential pipeline of work across several sectors; we all get that much. But timing is now really critical I’m my opinion ie if they don’t deliver some material new business by or before end Q3 they are going to be struggling for air.
The risk for the shorter (if indeed there is one) is the ML being approved out of the blue when Mr Poots and his team finally get off whatever other pot(s) they are sitting on as a favourable decision will definitely lift us considerably higher. This share is more of a gamble given the precarious nature of the finances and the way the Board has stretched itself with all the acquisitions.
Someone will make this business work eventually and I just hope it’s this lot but hey who knows who and what is lurking around the corner?
If the stock is being shorted Nobby i feel they are taking a very big risk with this stock, even more so than the usual higher risks associated with shorting.
With Infa having quite a few irons in the fire, even one of these irons coming out glowing could move this forward very quickly and leave these shorters very vulnerable. The likes of the ship repair business will only keep some of the company lights on, but the big possible deals of ML, MOD work, Triumph, a bigger renewables contract (bigger than the Saipan 26M one) could really move this on. If there are shorters I imagine they want a negative ML decision very soon as I believe we'll definitely pick up some form of substantial MOD work in the medium term.
I've seen previous stocks where shorters have been hammered with losses when there has been more than one shorter on the same stock and there's even just been some modestly positive news. The shorters have ended up in a clammer with each other to buy back stock, which in turn moves the share price north particularly if supply and demand dictates that they struggle to get the stock at a price they want.
The main reason I see that in Infa might be shorted is if they felt the ML decision is going to be negative as this would be a short term hit on the share price.
If some positive news is announced soon, I so hope there has been more than one shorter as these guys (if indeed there are any shorters) will boost the share price even higher with them competing with each other to buy back in to capitalise on any gains they've made to date or to mitigate any losses they might see as the price moves up.
These are just my thoughts. Itll be interesting to see how this plays out, but I'm get increasingly impatient and nervous with JW and Arun not buying in themselves.
TTNY - it’s taken a while but it’s now become blindingly obvious why JW and AR haven’t bought shares since May 2020. Do not be fooled by the closed period excuse; it’s very simple, they knew well in advance further placings would happen which would dilute us all. When they do buy in we can breath a sigh of relief (I think) however they’ve been happy with the “In God we Trust - the rest in cash” (our cash) mantra for what seems like a long time
Nobby31 In relation to your 10.54 a lowball takeover of 20p a share would be a significant undervalue. The current MCap is £35m. In the half year report for the period ending January 31 the net assets was circa £20m. The following post ending events need to be added to this figure the placing raised £10.3m The Open Offer raised £1.77m plus the current order book is circa £26m. So assets totalling circa £38m need to be added to the net assets so on the basis of assets a realistic valuation would be circa £58m on the basis of assets only. On this basis I do not see a hostile takeover succeeding at less than 50p a share. This is way below what I would consider a fair price.
Stokey12 I was probably not making myself clear but my intention was to state if the price was driven lower eg to 20p a lot of shareholders might take up an offer to sell at eg 40p. I agree that is considerably less than what most of us think the company should be or could be worth but that is how some of the money folks do business to acquire assets on the cheap
Nothing showing on ShortTracker+ as regards Infa. tbh
According to the FCA, regarding the new Short Selling Regulations, "...from 1 February 2021 the notification threshold for issued share capital of a company that has shares admitted to trading on a UK trading venue (UK Regulated Market and UK MTF) is 0.1%."
Previously 0.2%.
Agree though, something is not right. Found it very odd that it went down so quickly after the 26m contract.
Btw, what's with Killick? Up, down, up, in, out....? (See after hours RNS)