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Having said the below, the news of the takeover bid did overshadow the results at Spirent. There was an 80% drop in profit which was pretty brutal in 2023. Hopefully, 2024 has started more optimistically, but it mayvtake a while to filter through into results. Without a takeover, this may take a while to recover
Me too- I took 1/3 out of spirent as a hedge and put it here. I can't believe this share price will stay here for long. Either a takeover or, with the positive noises from the PMI numbers, things will surely move up from here. Either way, I'm expecting my portfolio to be a little rosier in a few months' time.
This share usually lags Spirent a bit(not a rule, but generally). Spirent just released a trading update and seemed to be hitting their (albeit downgraded) predictions for the year. Their share price has recovered a bit and it could mean these companies have seen the bottom of the market and are starting to see green shoots as the recovery happens. That's my positive take on it anyway
Don't worry everyone - I really feel that Santa's on the way with this one. After the mining company being investigated for corruption, the biopharma company that went broke and the lithium miners who can't find lithium, this is the share that's going to turn the portfolio around. Keep believing
I'm genuinely torn what to do. If an election is called, it is entirely possible an election plank would be the pausing of all lithium exploration until an inquiry is held. The possibility that, to appease public anger, a political pause would be put in place is very real. If this is the case, selling some or all of the stake may be sensible until the politics is ironed out.
Alternatively, it may be that the Savannah deal and approval is found to be taint free and allowed to proceed. This would be a scare, but no more than that, en route to the goal. If that's the case, a tight-fisted hold and trust in the process will see us through.
I'm not sure at all what my play will be. Very confusing times
This share does go up and down in large swings. Until their updated MRE is out, I think it's going to be subject to fluctuation. Looking forward to having the MREs out for the clay and rock so we know where we stand. The last results from the clay were extremely promising.
I think it's pretty astounding that the ecoactivists have not said a single word in favour of lithium mining in these planning and permission disputes. Or, depending on your opinion of their ethics and hypocrisy, perhaps not astounding at all.
Article from Reuters a few days ago showing demand rising for EVs even against a backdrop of a slowdown in car sales overall. https://www.reuters.com/world/uk/uks-july-new-car-sales-up-more-than-25-smmt-2023-08-04/
Spirent have just posted an RNS with pretty positive noises about q2. Should bode well for Calnex too
I've been consulting the tea leaves and I think they will raise investment needed, find a keen buyer for the odey holding and cruise through first patient treatment. Relist the shares and sell at 80p. Who am I to argue with the tea leaves?
Oooph