Member Info for Bluehorseshoe666

One of the holdings has gone bust. This is to be expected and I don’t know if it was marked to zero on the NAV already.

So far we have not been diluted, issuing new shares above NAV increases the value of the fund and benefits existing investors. I know the share price fell but long term value was generated.
The news from the industry is good and NAV growth strong, although I have not seen the calculations.
The share price is too low and will in time recover.
I will only be worried if new shares are issued at a discount to NAV that is a sign of real weakness.

I have read comments on this board with interest but following the news of a much better and cheaper battery from the Argonne National Laboratory, early but promising work. I think the the risks are too high and the upside capped in this stock.
All the best

Hi,
Although it is luck we are out of the EU. They will be decades behind on this as they need permission from the French farming lobby to progress and that will not come anytime soon.
The UK might still learn a thing or two from Singapore.

Hi Chris,
I had hoped that ANIC would buy gold miners rather than the ‘picks and shovels’ companies. Clearly Lib labs will need much more capital rather a firm like Bluenala which plans to licence its tech.
This seems a lower return option but the tech is useless without factories.

BlueNulu have posted some pictures on LinkedIn which are making me hungry. Once our share price recovers I look forward to trying some.

Happy to be corrected but I don’t think Blackrock have any trackers with AIM stocks, the low liquidity and high spread makes the tracking error too high. I think this 6% is from an active manager at BR.
It is a shame that it is possible to buy so much without moving the price.

Agree. The really good news is that Blackrock will know that they cannot sell 6% in the near future without crashing the price so they are in for the medium to long term or they would not have bought anything.

ANIC will not invest though as BSFA is a competitor but still good news for the whole industry, also it shows what a little good news could be for our portfolio.

Investment trusts can only issue shares when the share price is above the NAV, to do either wise is to sell 15p for 14p. Previously when the share price was well above the NAV they sold 5p for 30p but this cannot be repeated unless the share price improves.

It is true that the underlying companies will need more capital but as it stands ANIC will only have its cash reserves, my guess this is why we have not bought any new investments as capital is needed to support the existing holdings. Once our cash is spent then the underlying companies will need to find different share holders and our stakes will be diluted.

As mentioned before the underlying companies appear to be doing well. Now is a waiting game for the underlying companies to succeed or fail. Their results will feed through to our NAV and even the share price, in the end….

I would hope that everyone here understands that zero is not an unlikely. I still think the result will be good but there is a fair chance the result is poor. I will not be averaging down, to avoid putting good money after bad, hopefully all will be wel.

Let’s see in 5 years

None of the portfolio companies appear to be going bust. This is a very positive statement for a VC firm. I have no inside knowledge but if you hold the course I think there will be good returns.

I am also 40% down and unwilling to realise the loss which might be influencing my view.

LL does not need to make any money to benefit the fund. If LL is driven out of business by bigger players offering lower prices then the rest of the portfolio benefits greatly.
Given ANIC has seats on many boards JM will know the issues and the fund currently has enough cash to try to fix issues that the individual companies cannot.
I had hoped for quick big returns but it does look like 5 years to a good return and 10 to a great one.

Thanks. I doubt they will be diluting our holdings

Hi,

I know there are warrants at 23p with expiry at the end of 2023. Can someone remind me if there are some at 28p that expire sooner as well?

Thanks

https://web-assets.bcg.com/6f/f1/087a0cc74221ac3fe6332a2ac765/the-untapped-climate-opportunity-in-alternative-proteins-july-2022.pdf

Boston Consulting Group paper on Alt Protein. I have not read it in detail yet but appears to support the direction of travel we are all hoping for.

Unfortunately not one of our companies but Big Jim was liking this on LinkedIn:
https://www.theguardian.com/environment/2022/may/25/worlds-largest-vats-for-growing-no-kill-meat-to-be-built-in-us

Real progress either towards profit or bust. It the answer is coming closer.

Also there is a lot of cash to be spent but they decided not to buy into this round. I am pleased that there appears not to be pressure to get the money in the market, better to keep dry powder.

There is a good 30 minute update from Anthony Chow on “The Art of Investment” podcast from Vermeer Partners.

Little news but a good recap and reminder why we own this company.

While I am as pleased as anyone with the increasing share price, I wonder if there will be more issuance when the price exceeds 30p.
I hope they wait for the cash pile to be spent this time but there is a huge volume of cash needed to mature this industry and ANIC will want to grow fast and huge.
Best to watch the NAV not the price.