The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Agreed. The fund raise is about 2 months cash burn. Bigger raise on the way especially to buy a producing asset. This is to get the sp moving which it certainly is.
Impressive !!
But still cheap as chips with all the assets this company holds. Especially paradox. If they were to announce paradox drill this would fly. The plan was to farm out Paradox probably for a free carry while any near term smaller drills could be carried in house. Lots of assets, now lots of opportunities with new money on board.
well, looks like we just had that bounce off to 2-ish level i was talking about on 26 March....
but what is really iteresting is that with a new members The BoD suddenly is talking about "screening other opportunities to establish cash flow in new term". and there is already "one pitential project in Texas for rapid production with relatively low costs".
so, what are we making out of this?
it's simple: Paradox will be delayed . the Texas side track goes first with relatively small size of convirtible loan.
Enjoy the uplift folks. Have a great day
Agree looking good here
Looking a lot better today. Today's RNS was definitely a positive one.
I think they are trying to raise the SP before a much bigger dilution. Seen it work before. Lol
No doubt in an ISA like the last time MI bought £20k worth lol
Small sells, likely a trader taking their small gain.
I don't think the board bought yesterday or they'd have to RNS it this morning. 7m of buys to come... that'll push this into 2s.
I am enjoying this but to be honest I feel better about my investment in AAOG. Lol
SR bet you will turn positive by the end of the day .lol
SR, I thought u were buying back if when funding sorted, I be interested to know what price you get .
With another 25m shares out of the market and the BOD openly buying from the market this will tighten very quickly. Going to be a very interesting few days and this will be hitting lots of radars with the SP movement. The rainbow chasers will be on their way.
I'm going to sit back and watch the antics. These shares will become very rare over the next few days !!
I think you will find that was them buying yesterday.
Really dont see that's in the interests of the BOD. They are about to buy £75k on open market and a bottom has been put into the SP of 1.1p with Bensh buying. Very blue day today I'd say !!!
Very intriguing news this morning. New board member buying a significant chunk and at yesterday's open price mid, so not a bad price either really.
A statement that existing board members intend to buy £75k open market too. So that's 5m shares, would push this back into 2s very quickly.
Not sure on the potential of a new asset, wish they'd focus on the paradox, but the RNS today will have caught a lot of attention.
Just about what I thought was going on. Very small raise. Will not last long. Looking to take this private?
Well well. Looks like a real power struggle has gone on. Robert Bensh won out by throwing his money at it. Shame but proves confidence in ROSE and also the BOD to buy £75k on open market. Those shares off the market now and wont be sold back into the market anytime soon I suggest. A better outcome than many expected!!
And its probably why they are no longer joining us!
ok, lets start kissing arses of the new members of The BoD. the show must go on.
SuperRoty, Thanks for your sensible and reasoned reply, you make some valid points...However, I feel 2p could be hit very quickly here, in fact as soon as tomorrow imho. If there is a deal to be made then plenty will know and I expect this to move fast. I really don't think JB would of taken this project on without a quick fix. Hes got plenty on with AAOG already and doesn't need a failing company around his neck imho
Its understandable that investors who have experienced this SP falling from near 5p will be jaded but there is a clear value prospect here for the right management with the correct contacts to exploit.
Firstly Shibs, I have not heard any ramping on here today. I think what everyone is saying is sensible. This company has a great asset and now we have some savvy management to hopefully exploit that. Farming out is the most likely approach in my view so a raise may not be needed. If there is to be a raise at these prices I would certainly buy big but I would expect a PR assault by the new management before that occurred and raising at a much higher price. The SP is certainly not showing any signs of forward selling as its moving up nicely on low volume.
In fact..... if anything...... you are sounding more like someone desperate to keep this SP down. Maybe you have a large short position and you are worried by the rise. ???
This only has a £2m market cap for an asset possibly worth more like £50m. However, I'm being cautious with my targets as some questions are unanswered but £15m looks reasonable to me.