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I see Roderick McIllree has taken up the role of UFO executive chairman.
UFO has lots of projects to keep him busy so I wonder what that means for TMOR?
Presumably he will have less time to search for suitable projects and explains some of the recent selling.
Three chunky buys
Bit of trading going on...hmm
A shell with a not dissimilar ticker to TMOR released its final results today, and here are a couple of key points from Chairman's statement:-
26th Jul 2022 7:00 am RNS Final Results
"Results for the period 25 March 2021 to 31 March 2022
... The recent resets of pricing in technology stocks in our view works to the company's advantage. ...
... we look forward to updating the market on our progress. ..."
https://www.lse.co.uk/rns/TMTA/final-results-587ma8gkxqc1q20.html
That first point supports the view that I set out at the start of second post on 28th. May here:-
Hedgehog100 Posts: 2,135 Price: 0.975 Strong Buy
A Good Time for Shells & RTOs
"Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like TMOR.
And meanwhile, the valuations of RTO targets for shells tend to be depressed.
So ironically, the s.p.s of shells like TMOR can become depressed at the same time as they are in effect becoming more valuable: more capable of cutting a cracking RTO deal on great terms - i.e. a better shell valuation and lower target valuation, and great quality targets. ..."
https://www.lse.co.uk/ShareChat.asp?ShareTicker=TMOR&share=More-Acqu&page=3
As regards deal progress, TMTA is keeping its cards close to its chest, as is to be expected re such negotiations.
But 'reading between the lines', positive progress seems to have been made, and the company may well issue some good news in the near future.
The bodes well for TMOR also having made positive deal progress.
Position building going on here. Nice to see
19th Jul 2022 11:55 am RNS Director/PDMR Shareholding
DIRECTOR DEALING
More Acquisitions plc (LSE: TMOR) has been notified yesterday, 18 July 2022, that Roderick McIllree, Executive Director of the Company, purchased 2,000,000 Ordinary Shares of £0.01 each in the Company at £0.00945 pence per share, on 18 July 2022.
Following the Director's purchase, Roderick McIllree owns 12,000,000 Ordinary Shares, representing 9.60% of the issued share capital.
https://www.lse.co.uk/rns/TMOR/directorpdmr-shareholding-nikyqf371jqv9m3.html
You cannot ask for better to be honest, little bit of patience here will go a long way.
“…But investors prepared to exercise due diligence, and looking to get in early before the market tide turns once again towards more speculative ventures, might want to have a look at the some of the UK’s smaller SPACs. It is important to note that such companies can apply for exemptions from the FCA rules requiring that SPACs list with a minimum market capitalisation of £30m…”
“…But investors prepared to exercise due diligence, and looking to get in early before the market tide turns once again towards more speculative ventures, might want to have a look at the some of the UK’s smaller SPACs. It is important to note that such companies can apply for exemptions from the FCA rules requiring that SPACs list with a minimum market capitalisation of £30m…”
https://total-market-solutions.com/2022/07/spacs-down-but-not-out/
"Metals rebound from their worst week in a year on China optimism
Bloomberg News | June 27, 2022 | 4:18 pm Markets China Copper Gold Tin
Tin lead a base metals rebound from their worst week in a year as China’s economy showed signs of recovering and Goldman Sachs Group Inc. said global supplies were still constrained.
Early indicators for China’s economic activity tracked by Bloomberg suggest an improvement during June as Covid-19 restrictions were gradually eased. An overall gauge of the outlook returned to neutral after deteriorating for two straight months, though the recovery remains muted.
“Whether zero-Covid, the property slowdown, or a consumer lacking confidence, Chinese metals demand has been very weak over 1Q,” BMO Capital Markets metals and mining analysts led by Colin Hamilton wrote in an emailed note. “However, there is no doubt we are past the nadir in terms of activity.”
Industrial metals are still on track for the biggest quarterly plunge since the 2008 financial crisis amid rising fears of an industrial slowdown across major economies. Tin’s led Monday’s gains on the London Metal Exchange, paring a record 21% weekly loss that took prices to a 15-month low. Nickel, aluminum and copper also rose, reversing last week’s declines.
Though China, the biggest base metals market, is providing optimism, “the slight brightening of sentiment there is hardly likely to offset the current deterioration in the situation in the western industrialized countries,” Commerzbank AG analyst Daniel Briesemann said in a note. “Especially as renewed restrictions in China cannot be ruled out in view of the country’s zero-Covid strategy.”
It’s a dramatic reversal from the past two years, when metals surged on a wave of post-lockdown optimism, inflationary predictions and supply snarls. Inventories remain at critically low levels in several metals markets, setting the stage for potential price spikes even as investors turn bearish on the demand outlook.
“The sharp move lower in base metals prices over the past few weeks reflects almost entirely financial liquidation pressures, rather than any deterioration in fundamental conditions,” Goldman Sachs analysts including Jeffrey Currie wrote in a note. Still, price pressures would likely linger until responses including supply cuts or “extreme” inventory reductions, they said. ..."
https://www.mining.com/web/metals-rebound-from-their-worst-week-in-a-year-on-china-optimism/
https://bluejaymining.com/projects/greenland/disco-nuussuaq/
it’s potentially massive and fits like a jigsaw piece into the TMOR plans.
Interesting times, it’s a pure punt play for sure, but like you say we could do some numbers here
https://www.lse.co.uk/rns/JAY/disko-exploration-limited-8211-proposed-demerger-kdgbzisl31nb8it.html
Same management?
|It 'works both ways' though; despite his contacts shareholders on the JAY board regularly voice dissatisfaction with the BOD there and the lack of communication with them. But some of the JAY exploration assets are extremely promising...
My stake here is just for the organised ramp I am expecting within the next few months... a straight gamble where the upside is multiples of the downside.
TMOR executive director Roderick McIllree, who is currently Executive Chairman of Bluejay Mining on AIM, could have some useful renewable energy contacts, to help cut a good energy transition RTO here.
Last August Bluejay unveiled an impressive joint venture with a billionaire-backed company, to pursue EV metals:-
"August 10, 2021
1:17 PM GMT+1
Last Updated 10 months ago
Billionaire-backed mining firm to seek electric vehicle metals in Greenland
Reuters
2 minute read
COPENHAGEN, Aug 9 (Reuters) - Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining (JAY.L) to search in Greenland for critical materials used in electric vehicles.
KoBold, which uses artificial intelligence and machine learning to hunt for raw materials, will pay $15 million in exploration funding for the Disko-Nuussuaq project on Greenland's west coast in exchange for a 51% stake in the project, Bluejay said in a statement.
Shares in BlueJay traded 26% higher on the news.
The license holds metals such as nickel, copper, cobalt and platinum and the funding will cover evaluation and initial drilling.
KoBold is a privately-held company whose principal investors include Breakthrough Energy Ventures, a climate and technology fund backed by Microsoft (MSFT.O) co-founder Bill Gates, Bloomberg founder Michael Bloomberg, Amazon (AMZN.O) founder Jeff Bezos, and Ray Dalio, founder of the world's largest hedge fund Bridgewater Associates."
https://www.reuters.com/business/billionaire-backed-mining-firm-seek-electric-vehicle-metals-greenland-2021-08-09/
As at 31st. October 2021 CRES had £807,582 of cash, which by now of course will be less.
Whereas at its 3p suspension price today, it has a market cap. of £1.3M.
I.e. unlike TMOR it was trading at a significant (albeit not huge) premium to cash: a similar (slightly higher) market cap. than TMOR's, at its current s.p. of 1.025p, but with far less cash.
But it has still arranged a conditional RTO at an implied premium of over 50% to its current s.p.
CRES was suspended for a RTO this morning, at 3p, with an with an implied RTO price of 4.625p.
And like NZI's, it looks like a good one: a potentially large and high-grade gold project, with significant exploration work already conducted:-
9th Jun 2022 7:40 am RNS Statement re. Suspension
"Proposed Transaction and Suspension of Listing
Citius Resources plc (the "Company" or "Citius"), an investment company listed on the London Stock Exchange, is pleased to announce that it has entered into a binding Heads of Terms with regard to the possible acquisition of 100% of the share capital of AUC Mining (U) Limited ("AUC') to be satisfied by the issue of New Ordinary Shares of the Company ('the Proposed Transaction').
AUC holds the Kamalenge Gold Project in the Mubende Gold District, Uganda. The Project has the potential to be a large and high-grade gold project based on preliminary due diligence of the exploration work completed by the Company and its consultants. AUC have completed extensive work and expenditures on the Project over recent years yielding substantial drilling and exploration data for the Company to advance.
Citius has agreed, subject to further due diligence, to acquire the entire share capital of AUC for total consideration of GBP2,000,000 (two million pounds), to be satisfied in full by the issue of 43,243,333,242 new shares of the Company at an implied price of GBP0.04625 per share ("Acquisition"). ..."
https://www.lse.co.uk/rns/CRES/statement-re-suspension-wnqgwbqiqbdoda4.html
This further shows the potential of shells in even challenging stock market conditions.
Just a waiting game here with sentiment and/or rumour this will absolutely fly
If people have posted all their research, then why keep posting if you've nothing much to say?
And you wouldn't generally expect small shells to get many trades ... in fact for some, you're ore likely to get three in a month than three in a day.
And just 3 trades today
TMOR has a market cap. very close to its cash, due to the refreshing absence of free shares being given out, and the fact that it is still near its IPO price.
Moreover, its running costs will be refreshingly low, avoiding the sort of cash-burn that can hit many other shells.
So no 'snouts in the trough here', and every incentive to arrange a tasty RTO ASAP.
Which from this lowly level could mean some pretty big upside.
4th Mar 2022 7:00 am RNS First day of dealings
" ... Highlights:
• One Price for All - All investors have come in at the same IPO price; no Founder Shares or pre-IPO rounds; no warrants; no options.
• No Advisory/Broking Fees- The Company's advisor and broker, Peterhouse Capital, has agreed to waive all advisory fees and commission on all funds raised at the IPO and will receive no annual retainer.
• Capped listing and on-going costs -
• Total costs for the IPO have been capped at £50,000, including all accounting, legal, PR and Exchange fees;
• Total costs for the first full year after listing also capped at £50,000.
• No ongoing director salaries - The Company's directors will receive no salaries or consultancy fees; compensation will only be received by way of a success fee on the completion of an acquisition approved by shareholders. ..."
https://www.lse.co.uk/rns/TMOR/first-day-of-dealings-ksvo8psg7tcb0np.html
Shopping lately here in TMOR
https://twitter.com/zopelyforver/status/1533356700178255873
I meant to add the Green Economy Mark reference is from the RNS on the first day of dealings:
"The directors intend to search initially for acquisition opportunities in the energy transition sector. Energy transition refers to the global energy sector's shift from fossil-based systems of energy to renewable sources, such as wind and solar and lithium-ion batteries. As the Company intends to apply for the London Stock Exchange's Green Economy Mark in the future, attention will be given to companies that generate over 50% of their total annual revenues from products and services that contribute to the global green economy."
https://www.lse.co.uk/rns/TMOR/first-day-of-dealings-ksvo8psg7tcb0np.html
The lack of action that GOV has taken to prepare for the post fossil fuel age has had a light shone on it as the war in Ukraine has caused a spike in energy costs. This has surely highlighted the energy transition sector and there will be many companies looking for the exposure, prestige and fund-raising ability that a main market UK listing brings.
This must make this ready-made shell of interest to unlisted companies in a hurry to try and fill the place in the market with an innovative energy transition proposition. Should be interesting as more rampers get drawn in on the 'promise' of some quick profits.
"EU reveals its plans to stop using Russian gas
By Jonah Fisher
Environment Correspondent
Published 18 May
The European Commission has given more details on how it plans to end Europe's dependence on Russian fossil fuels.
Russia supplies 40% of the EU's natural gas and 27% of its imported oil. The EU sends the country roughly €400 billion a year in return.
Now the EU plans to speed up its shift to green energy but says it must also invest in pipelines in other countries. ...
The strategy focuses on three key topic areas. Improving energy efficiency, expanding the use of renewable energy and securing non-Russian suppliers of oil and gas. ...
The REPowerEU plan is estimated to cost €210 billion (£178 billion) over the next five years. ...
More green energy
The bloc has earmarked €113 billion for a "massive scale up in renewables" and new hydrogen infrastructure.
New EU legislation is being proposed to make it easier to build solar and wind farms.
"Whenever we talk about rapid deployment of renewables, there is an elephant in the room- getting a permit," said Frans Timmermans, vice president of the European Commission.
"It might take as long as nine years for wind and up to four years for solar projects, so this is time that we do not have and we have to speed things up," he added.
The Commission has proposed specially designated "go-to" areas where permission can be given in just one year. Certain new buildings could also be required to have solar panels installed on the roof.
The EU target for renewable energy has also been more raised. The goal is for green energy to provide 45% of energy needs by 2030, up from 40%. ..."
https://www.bbc.co.uk/news/science-environment-61497315