The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I have to agree, smacks. The assets are absolutely world class, no doubt on that front. The only question was how to find getting it out of the ground. Well now we can see a path, and the fact that their acreage has been chosen for a free lunch indicates in and of itself that it's optimal. Still a fair way to go but it's now gone from write off to potential average-down for me. Will see what unfolds here.
I've been fairly patient with this, originally started accumulating in 2017/8 at around 1.45p, having continued to accumulate I have been able to get my average down to a point where I'm around 40% in profit now. The assets have the ability to take this up substantially from this point, incredibly low mcap in light of where we seem to be going in terms of production, sales and signatures. Well done all long term holders and good luck moving forward.
Good researching, folks. I've been silent for a while due to workload but still holding a large chunk (to me) and see no reason it won't be a star performer. News flow should be good in the coming weeks and months.
Another thing to point out is that MMs often trade in unusual places within (and sometimes even outside of) the advertised spread. On another share I own I was getting quotes to sell while the spread was 11.5-12p. If I had sold any shares I would have been paid 11.85p so this would have been above mid-price and printed as a buy.
I would suggest that Duyung will be sold before a raise became necessary imho
I'm no expert when it comes to charting, but I've held a share when it went through a golden cross. It was Tern in 2018, and it went bananas. It went from a low of 3ish to a high of 57p in the space of a few months, and iirc the golden cross occurred around the high teens; happy to be corrected on that though.
50dma here is 0.467, 200dma is 0.492, so imminent imho