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I sold out this morning,
Following the seller in play.
GLA
Why is it their Q3 reporting is inconsistent - sometimes they report, sometimes they don't?
Surely Q3 lands this week
Looking forward to increased turnover and with it increased profit
Over the last two years the big seller was M&G Investment Management which disposed of over 12% stake in 2022/2023. They are out of the way.
If there is still a large seller could be Close Brothers Asset Management which still had about 2% stake as of July 2023. If you look at their stewardship policy online they say they don't invest in Coal or Tobacco for example so probably will need to divest of this by a certain date.
How long has a seller been about and do we know who it is?
10.8 seems like a strong floor
You've hit the nail on the head, patience here will be very well rewarded both short term and long term
I think you're right, Ronald......a close family member is a fund manager (of a small fund) and even he's precluded from buying into businesses such as OPG...partly because the business is too small but mainly because the City is obsessed with the ESG (environmental, social and governance) agenda which OPG hardly fits the bill (currently, at least).
Once the big seller is out of the way, even with the fact that OPG is burning coal, the fact that the business is churning out cash (which could be used to improve it's ESG credentials and/or pay a divi) means the sp is likely to respond positively in due course.
Fund managers obligated to clean energy so they don't have a choice there loss is everyones gain because this is a cash cow.
The debt reduction over the last 6-7 years is incredible. Plant paid for and now generating bundles of cash
Question is why does the seller want out now ?
Who is this large seller ?
Davy
I have bought in a trade , and see how it goes to se if I hold
This has fallen last couple of weeks , so frankly buying means diddly squat because we had buyers high too
The point you failed to mention is there is a big seller ,
L2 stuck at 1v1 even with the buying
It seems MM closed the bid/ask to attract buyers
Not be record results, they used to make £25 million in the past that would be sensational but the massive difference now from 5 years ago is they net cash position from a huge net debt position. 250k buy delayed a whole day lol these mm's are having a laugh.
Big buyers arriving with update due any day now, and only a few weeks to what could possibly be record f/y results.
Start the engines !!
Thought we might have a good crack at clearing the lines at 11p but unless a stock is flying barely anybody wants to play.
I was watching a stock on my monitor unchanged with zero volume at midday no interest whatsoever and now it's up 24% the buys fly in.
It will go soon Dave
Clear the overhang and I think it could spike 30% in a day, loads of buys yesterday 3 lots of 100k delayed and full offer buys going through on Aqse exchanged again
Historically Q1&Q2 performance tends to be far lower than Q3&Q4 however Q2 saw OPG posting record figures and a great indication on what to expect in Q3, results due any day now
Y/E (april) should see revenue hitting 160million
With EBITDA of 20million.
Won't be 11p for much longer, broker forecast is a very conservative 27p and that would still be a bargain.
Well I bought 50k after the drop
Worth a trade I hope at these levels , see what update brings
Just bought a few more (18000) myself this morning, rivaldo. Good to see you over here as well as in INSE
Some big buys late yesterday great timing by someone.
Good to see a tick up on the bid this morning after a 50k buy at 10.74p. I bought a few more recently.
Cenkos increase target price significantly to 27p
Still to low imo should be 35p
Expecting a sharp uptick with Q3 upadate about to land
Davey
Yawn … how many times are you going to repeat these examples
We all get it , move on !
Maybe OPG would be better off saying they are giving up all profitable operations and instead we are going to start drilling for Helium or anything basically. Never known a market like this in 25 years of internet trading where value profitable companies are totally shunned and punters just chase up anything loss making that spikes. I get the rise in Helium one but the price is up 2200% in a few weeks, think it's priced in for now.
Imagine if Helium one said they estimate they will make around £10 mil profits a year and generate loads of cash the shares would probably go mentals and here's OPG with still falling coal prices and we are struggling to get 100k of share volume a day now.
I also think that this year will be when they finally start to reward holders by paying a dividend, clearly making enough profit as will shortly be confirmed by another record quarter.
Oh yes I missed that one so hopefully a update soon and one perhaps to say they on course to exceed expectations with the bar being set so low and with coal prices dropping still.
I think OPG is suffering because it's become a day trading frenzy in the last 12 months, no matter how good or cheap or value a stock is nobody will touch them until they are high up on the leaders board. Remember the last time that happened here the buys were flying in but sadly from traders who all sold out again within a week.