Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Surfie
All we can do at the moment is focus on the positives and be thankful that most of the negatives are AIM related rather than company related.
Things to look forward in next six month
3 large major product launches by multi internationals
New IP being developed
2nd half increase in purchases of ITX material
News being held back on Plastic ( time frame development 2 years started Jan 2020 as per RNS )
Good morning Chilting, I totally get what you are saying but with a 36.54% drop in the SP over the last 5 days things have certainly changed. I have no doubt this will recover but it will not be quickly. All of this you mention but none the less the drop is VERY dissapointing.
Investors need to remember that volatility is required to create a market for shares - if volatility wasn't built in share prices would hardly move and investors would loose interest.
In the main market stock movements are generally much more controlled because more stock has to change hands to create price movements, but in AIM where the market caps are much smaller, just a few trades can make all the difference.
We have seen this market volatility working both ways for ITX over the last year, it will subside as the company gets bigger but I guess at the moment its just what we have to expect.
Obviously the latest update triggered the fall but the SP is now clearly oversold and when the SP stabilises I guess we will enter a period of very low volume, just pulling in a few buyers to gently lift the SP, until we get some good news to pull the SP sharply back up again.
For those who understand the company and its potential, nothing has changed this week.
Justdeezerts
Excellent synopsis of recent events.
Personally I feel I have been mugged twice for the same news and your summary has bolstered this for me. As you say an 'unprecedented 5m TU ' (why?) that ultimately produced a SP drop that was way over sold IMO. This coupled with the TU this week, which in essence, just regurgitated the 5m one, and the SP drops again. (of course some triggered by stop loss)
Anyway, I have not sold any stock and standing my ground on the basis ITX has a solid future.
My summary as an FCA (now retired) and a past-FD of a listed company on the LSE.
ITX SP on 19 May - 11.15p.
On 20 May ITX announces it has received LSE's Green Economy Mark recognising the company's contribution to a green economy. SP races ahead.
ITX SP on 7 June - 16.2p
On 8 June (and without precedent), company issues its first ever 5 months' Trading Update.
Clearly the market is unimpressed (wondering why the need for this irrelevant RNS, when the H1 Trading Statement is due in July. So, SP ends up at 12.5p (at close of play on 8 June).
Company also announces a company presentation to be held on 24 June and the market wonders what 'goodies' are going to be revealed, which cannot wait until the H1 RNS expected in late July.
On 24 June, company presentation proves 'uneventful' and SP closed at 13.1p
SP then slowly drifts ahead of the H1 RNS and on 26 July SP closes at 10.9p
On 27 July, out comes a neutral / negative RNS for H1 providing little more information to that already said on 8th and 24th June respectively.
Since then, Market sentiment has now changed and the SP has been severely punished (some would say, overdone).
Many PIs sitting on good book profits from 1p plus have decided to cash in and I don't blame them.
I haven't sold a single share and still believe in the company's long-term future.
Conclusion: Only issue an RNS, when it is mandatory. And as for that presentation - it has proved to be a pointless exercise, because with the H1 results due in the following month, JS's hands were tied in what he could leak to investors ahead of those results.
Let's hope the next few weeks provides some stability....
GLA