The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I believe Douta PFS is being pushed back (again) to Q2, which no doubt is at least partially what's casting a continued shadow over the share price.
Anyone have any ideas why this is tanking especially hard today? I'd ask IR but the contact form on their website has been broken for months and they don't seem to respond to email, which is beginning to speak volumes.
I should have trusted my gut with the assets here rather than being swayed by popular sentiment towards the credibility of the management. Especially after the warning signals of the pivot towards lithium which seems to have been a complete dud (from Jan 15 RNS "encouraging drill results received in Q3 2023" which were evidently so good they've decided not to release them to market!?). Segun may have done well in getting initial operations up and running but in terms of shareholder value the project has been an unmitigated disaster to date. The share price needs to start heading north, rapidly, in order to restore any credibility the management may ever have had.
My fear is that the "encouraging" Douta drill results are so good that the project doesn't meet viability and we're left with a single mine at Segilola with a rapidly dwindling lifespan, despite clutching at more "encouraging" and fruitless proximal satellite sites and as yet unknown deep drill results.
My hope is for Thor to communicate regularly and honestly with the markets, cut the "encouraging" jam tomorrow crap and begin to realise shareholder value by demonstrating viable long-term production.
Just wondering if anyone has heard anything positive in term of any of ANIC's portfolio companies moving towards IPO? I could have sworn that around the flurry of marketing activity/fundraising a few years ago there was suggestion of a BlueNalu IPO just around the corner. Was it all just a sales pitch like "the dairy industry will be dead within 10 years"?
Very disappointed to see this taking such a thrashing. Hoped it would stand up much better than it has. What are people's opinions?
Must be a decent buy opportunity here - significantly below IPO price.
Anyone know why the (currently 8%!) dip this morning?
It tells you in the RNS, tbf.
Indeed. I don't see it as a bad thing, particularly. More money is clearly flowing into the sector so ANIC need to keep pumping in cash to maintain their positions in the most exciting prospects. The accelerated book build clearly implies the need for short-term cash for the imminent deals ANIC are in the process of making. They must be pretty chunky deals considering the involvement of New Agrarian too, assuming they're joining in parallel.
Short term it does probably pin the share price down somewhat, which is unfortunate, and the recent "coincidental" dive in SP stinks to high hell, but there we go. We really need some big news from some of the bigger players (BlueNalu et al) now to back up the theoretical NAV increases and to prove that these companies aren't just cash black-holes. One comforting thing is that Shellbay also need that to make their return so hopefully it will come. Frustrated but not surprised by the obvious shenanigans here, and hoping for (/expecting!) some serious news on increased NAV over the coming months.