Member Info for Accomp

Shares magazine are hosting an evening meeting in London on 4th April at which Chris Bogart is scheduled to speak on behalf of Burford.

Net profit on class action of over $5m with cash in within 30 days, investment gross return over 60%.

London Stock exchange shows no trades on Burford for nearly two and a half hours this morning, so trades data here is direct feed from stock exchange. Other companies stocks continued trading, but can’t find any reason why nothing on Burford for that period.

This is a strangely quiet board, this is a little known business, in which I invested and sold over 2020/2021 and made a nice return on a small shareholding. I’m hesitant to invest again here, so many years without a return. But their website to RNS issued yesterday which offers some hope, but does not display on this site. I follow and post infrequently on GGP and HARL if you want to see a busy site, but my favourite is BUR. All the best.

Burford main office location has been New York for at least ten years, according the Annual Reports, and approx 2/3 of employees are located in USA. As Burford are the largest worldwide Litigation Finance provider they also have the largest USA presence. When Nanoco say "a very large US litigation funder" it's likely to mean Burford. In order to protect confidentiality, Burford does not mention clients by name.

Just checked short positions reported on the FCA daily update confirms that reported on this site. Gladstone still at 0.79% since October, and Kulvari below the reporting threshold of 0.5% since November.

BBH, on HL you can transfer your dividend cash to capital account, I transferred mine on 2nd December as I wanted it available soonest.

Gold at £1460, so £800 net profit implies costs of £660, at 1.22 = $805, so may be a little high, certainly not $1k!
I’m happy to continue to hold.
GLA

Bamps, your input appreciated.
Let’s look again at 6.5m oz, and increase the net profit per oz to at least £800 per ounce, so net profits of £5.2bn less 70% owned by Newcrest = £1.56bn, a much nicer multiple on mkt cap of £0.37bn. This counts to immediately foreseeable profit potential, so I can anticipate SP exceeding 30p.
Downsides Dilution from shares issues to lenders.
Upsides Further gold discovery in at Haverion and elsewhere, potentially very significant.

Sorry I’m mean £0.65bn, or £0.94bn, against market cap of £0.37bn.

Looking at potential, at Haverion is 6.5m gold ounces, (9.4m if you include inferred).
6.5m at say £400 net profit per ounce, = £2.6bn, but potentially 75% owned by Newcrest, so GGP share £0.65m ( maybe £0.94m inc inferred), against market cap of £0.37m. Pretty good but not the serious multi bagger I originally expected, unless the other projects add serious value which I don’t see coming in the short term.
Please advise if I’m not getting this straight. Thanks.

GT67. Note that the SP closed firmly up exceeding £3.90p, a welcome advance as the decline in mid October looked severely overdone. Do not get too over concerned about the occasional reports of prices which look out of range. Some trades from certain sources do get reported much later in the day. The £3.61 must have been transacted much earlier in the day, around 08.30am. If in doubt check the price reported on the London Stock Exchange website, of another broker such as Hargreaves Lansdown of Interactive Investor, all of which report mid point SP of £3.92p.

In US today increased trading activity in final trading hour pushed price up to $9.82c, up 2.7% on the day, equivalent to £8.30p.

The Half Year results this year are a full month earlier than last year, both in regard to the announcement date and the reporting date. This sounds like a strong message of confidence in the reporting to disclose. Remember also that three non executive directors all made share purchases which were significant relative to their non executive income.

Shorts are at a lower level now. I information on this site matches that from the FCA daily update today, and is quickly accessed from the information view options which appear at the top of this page.

Litigation Finance Insider this morning highlights supportive analysis by Alphyn Capital.

The purchase by Sumitomo was just over 1.5m shares, thus less than 1% of the 219m Burford shares. Reporting RNS is only applicable where the shareholding is over 5%.

The change in short position by Kulvari as reported by TWT on Wednesday was likely to be slight increase from a non reportable position of just under 0.5% in April.

Strong buying activity in US, 2nd day with over 400k shares traded has pushed closing price to $10, over £8.10 at ex rate of 1.23.

Pennylots, Thank you TWT for info. I have just transferred my dividend into capital account, and has now incremented cash available to invest. In your HL account (SIPP or whatever), click on the cash tab, in this click on the dividend income line, and you get a screen allowing you to check a box to transfer to capital account and confirm. Then return to account summary, to see the change implemented.