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Whoever ENET spoke to in London, didn't seem impressed enough to buy shares...
An imbalanced selling of shares at the moment... by PIs or (gulp) being forward sold?
Any clues either way to this at the PI meeting?
very interesting reading!
Do you know when they expire?
The investment case was strong enough for IP Group at 12p last year, and there have only been positive signs from the company since then.
There may be a similar capital raise again in the future, but it will be at a higher price than today. The ITX board are not keen to dilute much with the share price at 5p.
The share price hasn't dropped to the placing price today because the shares have all gone to sticky hands. The board members aren't selling, and it is unlikely IP Group would sell many (or any) below 12p.
I wouldn't count on another RNS, but it certainly bodes well that ITX want to ensure an increased level of stock in Europe in case there are further disruptions to shipping etc...
The anticipation/expectation of demand is a great sign from this under-promising board.
Such a small amount of funds needed, so it does seem a little unusual on the surface.
It is fantastic that ITX don't feel the need to raise millions, and haven't offered a massive discount either. As the RNS stated, this is at a premium to most of the last month's share price.
I think this is a small amount of working capital needed to get ITX to the next stage of growth, which appears imminent. And I'm sure IP Group are both very pleased at the prospects of ITX, and annoyed that they went in so big at 12p. As well as strengthening the relationship between ITX and IP Group, I'm sure this will help to appease their annoyance.
I feel very comfortable with my investment at this point.
It will be great to have more certainty and transparency from ENET, but there will always be something (news, potential collars, annual reports) for investors to discuss or chew over!
This board will still be useful, especially for engaging new shareholders, but it's the unhelpful aspects of the board that will no longer be needed :)
Lithium is valuable at the moment, and for the foreseeable future, but energy costs in Germany will rocket, meaning industry costs will get more expensive. ZND probably hoping to sit on their hands until costs come down, meaning more drift for us shareholders.
someone is keen!
Totally agree with you, Sieveco.
It's only the impatient or the day traders playing this at the moment. If you want to make real money, just buy & hold. 5% up or down on any given day doesn't amount to much in the long run.
This is a very well run business, in a growing sector, with high demand products, and board confidence in the company is very high too.
So there is a new ticker. That's why the ULS page looks odd.
Onwards and upwards!
No one likes an "i told you so", but with investing it is important to consider the bear case for each company.
I appreciate Mascaro's take on events and finances, even though I continue to hold for the long-term. No point selling at these levels, and I liked today's RNS.