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Maybe now one of the major shareholders are buying?? get over 30% and they can make a cash offer. Similar situation to Boohoo and REVB
03-Oct-23 Canaccord Genuity Speculative Buy 90.00 Reiteration
Canaccord still see value in current SP with new rating of 90.00
They must be filling a large buy order imo, after 76% drop in two days, the dropping has to turn at some point. Buyers will return. aimho.
GLA
Sorry it was the August update I got the info, not June. BOD need to give some clarity to the market. GLA
So looking at the Interim update in June, they say Approximately 65% of the overall construction of Araguaia was completed as of 30 June 2023.
US$329 million has been spent on the Araguaia construction out of the budgeted capital requirement of US$537 million,
· Liquidity and funding sources of US$344 million as of 30 June 2023
So if the total spend is now going to increase by 35% of the budgeted $537 million, that would be a total around $725 million?
Total spend at June plus liquidity was around $673 million, so they are around $50 million short?? Can anyone confirm if that makes sense?
GLA
At £260mil MCAP this is surely a target for a bigger oiler? It feels like this is being held down for that very reason imo.
Crazy value imo
GLA
Yep, SFOR, QUIZ and SFE all smashed down this week and trading higher than the lows. Expect this to be back in the 60/70s next week imo
GLA
$96 incoming :-)
Volume seems to be ticking up and buying activity returning, at 6 Mil MCAP, I think the drop looks way overdone. IMO
Alarming that this is dropping when Brent is at $95 a barrel, just what is holding this back considering Brent is up 11% this month, yet ENQ is 10% down over the same period?!
Volume is dire also, time for some big director buys?
GLA
Will be back over 500 in no time, very positive update!
Interesting Camelot now 13%, MA has 17%… of possibly a bit more now.
Could MA agree a deal to buy the 13% off Camelot to get him over 30%???
All ifs, buts, maybes, but this is all getting rather interesting.
GLA
From 379 to 395 in an instant. 400p finish will be nice
MA up to 13.33%
Still all time lows, below placing price. Inflation coming down and profitability increasing. I'd say we are at the bottom imo.
GLA holding for the long haul.
TED was bought out for £211million which had a 2022 revenue of 428M and loss of 35m.
ASOS with a currently MCAP of 400m looks insanely cheap. Hope I'm wrong and ASOS recovers to true value in time.
GLA
I'm waiting for the instant surge in SP and bid rumours, it feels like this is being held down for a cheap buy out imo. TED springs to mind, shorts increased at the bottom hmmmm. GLA holding long!
Any selling being mopped up by Ashley, I wonder what his end figure is?
Anyone know the free float % now with the new shares in issue?
Cheers
This is still over 20% down in a month, it has a long way to go to get back to any sane level.
Patience
Gla
Agreed, if revenue was up and profit down the doomsters would be saying….Revenue is Vanity, Profit is Sanity!
I Couldn’t give a rats about the drop in revenue, the main thing is the return to profitability and the future of Asos, which is a safer investment this morning.
GLA