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Decent director share purchase there
i have some to go in the 70s. but patience, yet.
Pause not welcome and still in. High frequency trading seems to have by passed here - perhaps the bots are taking a nap too!
I know thom and MrEmc2 intended to sell around 70p and probably a few more besides. I'm hanging on for a while yet. I have introduced an aim company to TUNG as a potential client, so I want to see how they handle that. Some firms have to set up accounts with a different bank, just to cope with RMB payments, but using the network avoids that. The world is going digital because governments want to extract that final penny of taxation and curb corruption (and/or benefit from corruption). That is additional to firms wanting to reduce invoice processing costs and increase management information. The biggest competitor to TUNG is paper, not other einvoicing firms. Paper will lose.
Oi! Grumpy!! I was having a nice nap there!!
Just checking we're still awake perhaps ;-)
price shot up to 70p!!
Two big buys today, 1 million and another 500k.
The regulations look positive for Tungsten over the next 12-18 months, can't comment on the invoice financing side of the business, but eInvoicing is a hot topic. Central governments and the NHS will have a mandatory requirement to support eInvoicing by Nov 18, and since they change processes at a glacial speed they will probably be looking at the processes through 2017.
3m+ shares traded today but alas six consecutive days of rises come to a halt - hope this is just at pause towards 70p.
MrEMC2 I totally agree with you. My plan is the same
Thom - here we are again at over 60p again. I would guess that the increase is due to activity by ODEY rather than general market interest in TUNG. It's a gamble on how long the upward momentum will last. I keep reaching break even and then fall back into loss for long periods of time. I can't see a rosy picture over the next 6 months but I guess if they get near to 70p I will sell as the company is not being overwhelmed with new clients. Are you staying in or thinking of selling?
for couple of days, the sp increased with 20%. While I am happy, what are the reasons for this?
Nice increase this week..... any thoughts ?
bom biddy bom, biddy bom biddy bom, etc.
... there's still a pulse. good.
It might be worth pointing out that the shorts one often sees from JPM or Numeric or GSA are the function purely of the share's historical price pattern. As such, those firms' investments serve to amplify the price action that fundamental investors would have created. Good news if you you are both [a] a fundamental investor and [b] right.
Ryan11, thank you for that. The last Numeric position posted here was the reduction to 0.68%, so new reduction is further good news. I'm not following too closely now. Definitely turned the corner now, so waiting patiently for the market to spot that.
Apologies if it is old hat but it looks like Numeric has reduced/removed its short. If I am reading the FCA spreadsheet correctly it declared a 0.81% short on 9th December which it reduced to 0.68% on 20th, to 0.56% on 23rd and to 0.37% on 29th. Current disclosures show only the JPMorgan short of 0.69% which it has held since March of last year.
@hmmmmm I think the BoD had no choice. He wasn't acting in the interests of the shareholders. The markets they arr in are tougher than suggested however I agree they have performed poorly. Their updates are full of holes and I dont see progress. Their is also no positive news coming out. I question how @K3VMC can have such faith and be independent. However, I hope he is and he is proved right. Hopefully it is a still a slow burner. 6 months and we know.
Warthog4. I think you're right. The BoD seem to have been very reluctant to recognise that the business is missing the market. K3VMC seems to suggest al the problems have now been solved. I hope hope he's right. Was unimpressed by BoD telling Edi T to p*** off at 111p, rather than engaging and extracting some cash alternative to the paper. Wouldn't that be a nice share price? BTW if you take a 11 month view the SP has declined.
"I still don't get what Tungsten is doing wrong........" Neither do the BoD it seems. Some months ago I was pilloried for opining that the BoD is taking money under false pretences. I stand by that opinion-the 38% rise in the SP masks a volatile 12 month record which is not indicative of a company making steady progress. I can not see 2017 being any different.
Hmmm, I never benefitted from dynamic discounting with any of my blue-chip buyers!! I was lucky to get paid within the contract terms. You think TUNG's buyers offer discounts to their suppliers for early payment?? I reckon they just had to clear the decks, standardise SLA's and infrastructure, before embarking on marketing TEP to suppliers.
The services are not new - they're recyclyded from what OB10 was doing. POs, POs that flip into e-invoices, etc have been around for several years. Supply chain finance is a market that Tungsten should be dominating, given its presence in so many big buyers. The big buyers are doing literally billions in 'dynamic discounting'. But they are not doing it with Tungsten... Analytics is what McKinsey do and charge millions for. So all of these markets are there, are large and are very profitable for the payers that are in them at the moment. I still don't get what Tungsten is doing wrong not to be able to break into these markets. Is it as simple as not having a large salesforce? Or is it more fundamental?
I've never read Microsoft terms and conditions before and I have no intention of ever reading them. I read Rick's article. It was well written and interesting, I thought, but no-one expects you to read that, if you find it boring or too long. ATB