Member Info for Apeirogon

Yes, the AGM update on Nigeria was very positive. They are able to repatriate some funds and hope that at end 2024 the cash balances in the country will be minimal.

Qube will be long something on the other side. An ETF, a derivative, whatever. They don’t do fundamental positioning.

For what it's worth: https://simplywall.st/stocks/gb/consumer-durables/aim-sos/sosandar-shares/news/declining-stock-and-solid-fundamentals-is-the-market-wrong-a-1020

Personally, I think the management team have their heads screwed on and will do a good job of the store roll-out. Time will tell.

There is a small number of large holders. If one wants to sell his stake then it is one phone call to another large buyer. They aren't going to spend weeks dribbling out a holding in oddlots when they can just say "Pay me X and you get Y%". Where X is of course above the current strike.

Von Jako tidied up NeuroTherm and sold it for $200m. It’s what he does.

POLX clearly needs cash. This is his first priority.

Totally agree about the 52p options. They vest in Sep 2024 - so 1yr from his appointment. Why on earth would he agree to take the gig for no money if he didn’t think the company would be firing on all cylinders within a year ? I have to assume that there are advanced discussions behind the scenes with Phillips et al.

Heavily reliant on PGM prices. I think I’ll put this holding on the back burner for a while.

This came as news to me but WiFi7 is being rolled out. It’s very fast and it makes the “internet of things” a real possibility. No doubt Spirent will have a lot of work in their inbox over coming years.

Ambrose makes a good point about confusing lab grown meat for fake veggie crap. If you read through the comments section in any paper, so many people still think lab grown meat is the same as cardboard bean protein glued into a meat patty shape.

It really is impressive how TLW is shrugging off oil weakness

Can you give a link or reference to that online discussion please ? Many thanks

Is this irony ?

Plug Power filed a ‘going concern’ notice on Friday and dropped 40%.

Funding. Read the last results. They have cash until Q2 2024. Then they need funding. They were very explicit about this. Clearly the dream scenario is like OBG where some deus ex machina gives them £50 at 30p.

Their Prime Brokerage unit and their Research Dept are not allowed to communicate with each other

*day trade

It’s a cyclical business. Whenever markets are rising and people have spare cash they say trade more.

Given that the number of shares outstanding has been rising steadily, I assume that the directors are regularly awarded shares for free. Why would they buy ?

Qube is run by a bunch of French mathematicians. I used to work with a few of them.

If you ever want to meet someone who is convinced they are right all the time : meet a French mathematician.

Forever is a long time in business… they will almost certainly be able to get their money out of Nigeria at some point. The population of Nigeria is growing at a pace. 370m by 2050 from 220m now. So it does also offer opportunities.

I fully acknowledge that borrowing GBP in the UK vs a cash balance of Nairu is nuts.

Any deep-pocketed buyer would start by taking out the bonds in the open market. That accounts for the bulk of the EV of the firm.