Firering Strategic Minerals: From explorer to producer. Watch the video here.
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For anyone wanting to get more info on California progress, there was a product demo a couple of weeks ago which has now been uploaded to Youtube;
https://www.youtube.com/watch?v=4o_gljVrbW0
53mins to 1hr 22 is the Kooth 'Soluna' section.
Accompanying slides are here from 37 onwards; https://cybhi.chhs.ca.gov/wp-content/uploads/2023/12/11292023_Virtual-Services-Platforms-Webinar.pdf
Much to be encouraged / excited about, particularly how heavily involved the youth have been in the design & feel. The feedback from the 2 individuals on the call was excellent & it does genuinely look like a really impressive resource.
Would be nice of management to update the market on the California launch, all looks to have gone well with a statewide service now in apparently operation; https://solunaapp.com/
Just needs an RNS to reassure the market & highlight that the majority of execution risk has now been removed...
Yes an update would be welcome. They did Trading Update on 19th January last year so should hear something soon.
I would certainly like to hear confirmation of an extension to the Pennsylvania pilot. I’m not entirely sure what dates the initial contract covered. The October 2022 RNS said it covered an academic school year. The service was made available to students on 21st February 2023.
I was pleased to add at below the 300p placing price recently, but with todays SP drop it appears I should have waited.
Yes , news vacuums are never good , especially for AIM stocks.
Nevertheless , the fact that the launch has gone ahead as expected is clearly positive and in itself not a requirement i guess for an immediate statement given they have already said it would begin on Jan 1st. The fact that there is no statement at least means nothing has gone wrong which would have required said statement.
Hopefully a trading statement will be forthcoming soon which will also provide an update on Pennsylvania and if very lucky something on new opportunities !
@Acuere, I suspect the dates you quoted provide the answer to your question - the Penn contract will be running from 21/02/23-21/02/24, so there is plenty of time between budget approval last month & contract renewal date.
Excellent volume this morning @£3 - potentially from word of the successful launch starting to spread? Presumably any II that bought shares in the July placing will be keen to add at the same price if execution risk is now substantially lower? Canaccord likely still providing supply for now, given that they didn't partake in the placing and have been reducing their holding all year - no doubt selling illiquid positions first to satisfy fund redemption requests. When this supply dries up I suspect shares will fly.
And that's a good point on no news being good news @Nortel, likewise I am very keen to hear what else they have been doing - digging has uncovered their plans with Aetna in Kansas / Illinois, ongoing work in Arizona with the same team that put Penn in place & then there are undoubtedly a significant number of ongoing workstreams with the 30+ other states that are in the process of embracing digital mental health resources. And then we have the international licencing opportunity!
ShearClass , i note cannacord had over 13.5% last May so unfortunately i guess they may have some way to go , though as you say its unclear how much they may be forced to liquidate. Its certainly very positive that the shares hold the 300p level notwithstanding the odd day.
Your digging on future opportunities is certainly potentially very positive , even more so than my previous expectations !! Fingers crossed.
To add to the comments in the last 24 hrs...
If Canaccord is still selling lines of stock, maybe to meet redemptions, with AIM now bouncing off its lows and so many shares massively below levels seen in the past year or so, in spite of many announcing decent trading updates / results, it may not be a negative sign. Simply, there are bargains to be had at these lower levels of the AIM market and cash can be required to build positions in new companies. Certainly, this is how I manage my parents' AIM (IHT mitigation) portfolios, sometimes top-slicing, to free up liquidity to invest in other shares.
Also, the lack of news flow might not be a negative, albeit to be in a vacuum with the shares drifting on thin volume is always frustrating. Kooth is trying to secure deals with State side authorities. I am sure these will be very bureaucratic organisations where things do not happen quickly or in a timely manner. The last thing that Kooth's management would want to do is to over-promise and under-deliver. It is better that they keep schtum and allow the business to develop, updating the market when things are concrete.
Hmmm, LSE don't like *************! Abbreviated, it is ShPr, run by T Winnifrith.
Someone clearly wants in here, L2 order book is well bid, for a SETSqx share this generally suggests international interest... It still amazes me that we aren't trading at all time highs, however it won't take long to get there if this buying continues & the news flow we expect begins to land.
It does appear to have had support the last couple of days. Unless there are any funds requiring to sell to meet redemptions , there is unlikely to be much supply of stock.
Yes hopefully with interest rates set to fall and UK equities looking cheap hopefully this selling to meet redemption requests will dry up.
It’s worth remembering last years SP movements.
In March Kooth had to announce early that they had won California contract and details would follow. A month later SP was about 292p. Despite this knowledge by late June, SP was below 240p and barely moved even when Kooth informed market that contract would be signed shortly.
Contract was RNSd 4th July. Two weeks later, with placing done, SP was above 370p.
And yet despite evidence that Pennsylvania pilot has been successful and I’d say 99% certain to be extended. And despite evidence that California has been launched on time and app is now available in 13 languages, the SP had fallen back below premium placing price.
With either Penn RNS or Trading Update due in next 3 weeks, I can easily see this trading in 400-450p range quite soon.
Yep, the drag from fund redemptions should certainly ease this year & allow the cream to rise to the top. £4-4.50 should just be the starting point for a re-rate in my view, considering shares spent nearly all 2021 trading at £3.50-4... The strategic progress made in the US since has been stunning & unparalleled in the AIM small cap space.
Over the weekend the Kooth CTO shared an interesting role that they are recruiting for;
https://www.linkedin.com/jobs/view/3798347166/?refId=1U2ci3B7Rm63ADBikIvmXw%3D%3D&trackingId=1U2ci3B7Rm63ADBikIvmXw%3D%3D
"VP of Engineering - Consumer Marketplace - Scale-Up - Remote/East Coast
This pioneering marketplace product is immediately hiring a VP of Engineering to lead its technology division in the U.S., offering a pivotal role in shaping and evolving the innovation of a new platform for widespread adoption in the American market."
"Key Responsibilities:
Closely collaborate with the CTO and CPO to shape the platform's vision and its in-house migration.
Assemble and nurture a team of exceptional, remote, US-based engineers, ensuring the app's delivery and success.
Assume full responsibility for the new and parts of the existing app, previously developed by a third party, and make critical technology decisions.
Embed security, accessibility, and best development practices into their processes.
Build and manage a high-performing, delivery-focused US team within the established European HealthTech brand.
Strengthen ties with the global team, promoting a robust remote-working culture.
Collaborate with the European CTO to develop and implement a robust technical strategy.
Oversee the successful delivery and operations of the application, ensuring compliance and data security."
Appears to be a clear sign that things are full steam ahead...
Excellent stuff as ever.
These sentences whet the appetite.
“widespread adoption in the American market."
“Collaborate with the European CTO to develop and implement a robust technical strategy”
Crikey, just look at the delayed prints from Friday - nearly 800k shares changed hands around the £3 mark. Todays move tells us that either the buyer wanted more or the seller ran out of stock at that level, positive whichever way you look at it :)
Would expect to see one more Holding notices after all that.
Canaccord last notice had them down to 8.96% or 3.26m shares. Although one site shows them below 8%. BGF have been adding and were up to 6.15% in November.
Interesting though to read this comment from Amati about Kooth in November.
“So a well established business, respected amongst practitioners, but really expanding from the UK into the US is what’s going to make it for us quite an exciting investment. Important to note that it’s a more risky position than many of the holdings in the fund. Therefore, it’s quite a modest starting position, but nevertheless, one that is very exciting.”
With the company now less risky, I wonder if might they be increasing that “modest starting position”?