Member Info for CaneToad

My understanding (which you should verify yourself) is that the hedging was done to protect the dividend. I think I recall hearing Majid mention it one time.

Presumably because both UK and EU gas prices are soaring?

Peel Hunt reported today: "continuing low levels of market wide capital markets activity". Presumaby it's similar at Arden.

The bottom line is, all the talk about fundamentals is a silly waste of time during a selloff. That's the other half of investing that you're missing...

@Tony. Blah Blah Blah.

A share price is not a company. All oil/gas companies are dropping steeply, rightly or wrongly. Fundamentals count for nothing during a selloff as you will have noticed if you look at even one other energy company.

Spot copper: $3.44
ASIC: $3.59 (Q1/2022)

If the ASIC is still at that level and/or if copper drops further, then ATYM is no longer a cash machine.

Long-dated oil futures are now at $68. I expect this will lead to significant downgrades to target prices by brokers, which the market is reacting to:

https://www.theice.com/products/213/WTI-Crude-Futures/data?marketId=5356889

RSE is the biggest shareholder in Centennial (25% of the company), which has dropped 45% from the peak and still going down. Unfortunately, that's going to be reflected in NAV at some point, along with the other holdings.

Nothing unusual about I3E. Many of the Nuttall picks have been dropping even faster, along with almost every other energy stock.

"Ex-M.M. Warburg Boss Is First Top Banker Charged in Cum-Ex Scandal".

https://www.bloomberg.com/news/articles/2022-07-05/ex-warburg-boss-is-first-top-banker-charged-in-cum-ex-scandal

"Prosecutors in Cologne are probing about 1,500 people from the financial industry and are ramping up the pressure on international banks. They raided Barclays Plc’s Frankfurt offices in March days after Bank of America Corp.’s Merrill Lynch premises were hit. "

"ICAP Called ‘Spider’ in Cum-Ex Web by German Authorities".

It's going to be interesting to see how this plays out.

@TSSZ: "On days like this just buy buy buy more I3E shares, its a no brainer"

That's the reverse of what people need to do and the worst newbie investing mistake at the worst possible time - when entering a nasty bear market.

Apart from the fact that giving investment advice here is illegal, not everybody here will be sitting on a huge profit buffer, so you should avoid telling people to 'average-down' which is one of the worst possible things to do.

Makes me wonder if HAT would make an offer for MCL, once there's some clarity on the complaints situation.

H&T Group seems to be seeing soaring demand for loans, which will hopefully translate into similar demand for Morses.

One theory is that the listed energy companies have suffered lately; that's going to cause a drop in NAV.

It's too late to sell the Minto shares now; copper is dropping like a stone and miners are following. Could be an attractive time to buy an asset in 3m-6m time though.

Small uptick in shorts again. I wonder where they want this to settle?

"We’re is the 3-5p muppets we’re saying who sold lol"?

They exited at ~100% ROI... They'll re-enter on a good setup, rather than chasing a random move.

I would definitely vote against the company investing any more funds in the North Sea. I'd would prefer to see the money invested in jurisdictions which don't charge 65% tax.

"Do you think that we might have seen a short attack here?"

Almost every Canadian energy stock dropped heavily yesterday - many over 10%; take a look at the fall in Eric Nuttall's fund over the past few weeks and yesterday in particular.

Best news I've heard. Will keep an eye on it. Something had to change in this company. I think further management changes still need to be made. For one thing, I'd like to see a CEO that has more mining experience.