focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Well the Chair has just bought 5m warrants exercisable at 20p. Ok he only paid 5 grand but if the do doesn’t get to over 20p before 2020 then they are worth nothing. Either he is throwing away 5 grand as part of the smoke and mirrors messages or if it’s straight then there’s your clue about at what price the takeover might be at. North of 20p by the looks of things. Going to take a few more in the morning if i can get in in time....
Now that’s a buy signal. Chair buying up warrants exercisable at 20p.
Churn is good. Brings new holders in with higher exit targets. Steady rise day by day and now sitting happily above the 3p resistance. Expected bullish H1 numbers will take us further upwards.
I’m preparing an email to send to Irene and want to check I’ve got my facts right. From what I can see in the last couple of weeks Pelham has announced the following trades in his name: 9 July purchased 750,000 OBT shares at 7.8p total cost STG58,500 9 July purchased 1,818 Argento pref shares at USD350 which is a total cost of about STG490,000 13 July sold 9,000,000 OBT shares at 8p total received STG720,000 13 July purchased 2,688 Argento pref shares at USD350 which is a total cost of about STG720,000 19 July sold 1,200,000 OBT shares at 7.85p total received STG94,200 19 July purchased 301 Argento pref shares at USD415.28 which is a total cost of about STG94,200 Have I missed anything out because if I haven’t then as far as I can see the transactions on 13 and 19 July both cancel each other out from the point of view of net investment so he has invested a net approx £550,000. So where does Irene get the USD1.2m from. Any clarification appreciated before I contact them Thanks
For months now every time we approach 3p the sellers come out and it drops back. Feels different this time. Hopefully all those who had a 3p target to sell have already done so and we can progress past it and on to the next level.
Looking back at the issue of the preference shares in Dec 16, one of the conditions is a takeover ratchet of 150%. That would make them a very attractive option.
I would have thought that fairly soon shareholders should be entitled to some sort of communication from the Chair to explain why he is switching his holding from OBT ordinary shares to Argento preference shares. It may well be very positive but the lack of clarity is depressing the sp at the moment. I have recently added here and expect double figures in the near future.
Joe, the nuance of language being used is interesting to note today. PF in his AGM statement, which I believe is the latest verifiable source says: “we EXPECT to be EBITDA positive this year.” IanB tells us: “the company WILL be EBITDA positive this year” And Jimzi tells us: “it IS EBITDA positive “ A recent company prediction appears to have morphed into a shareholder fact......
Jens, it’s worth looking at the whole balance sheet. I think the current MCap is because the market is working on the basis that having £10m in the bank doesn’t add value to the company when there is a £12m deficit between trade receivables and trade payables.
Tly is on my watch list. I think there is good potential for significant gains to be made. Therefore I’m a potential buyer when I judge the time is right. Good luck to you and other holders here. I may join you one day. In the meantime I will continue to look in from time to time to take part in the debate which helps me to assess when the time is right to buy in.
Yes I know that, as I explained a few times. The MCap is currently about £13m. It was about £14m when I did the calculation. Sorry to others that I am repeating myself a bit. The £18m is the difference between the net tangible assets of -£4m and the current MCap.
The order book is part of the assessment of profit making potential. What they historically paid for the companies and why is pretty much irrelevant when it comes arriving at a valuation of the company today. But of course we each make our own judgements on the value of a company. Thanks for your response. Any comment to make re the buy back conundrum?
Graham, sorry I didn’t see your post asking about the £18m. Just seen it. My calculation was that to arrive at a MCap of £14m (which it was when I did the calculation) when the starting point is net tangible assets of -£4m then goodwill plus profit generating potential must be being valued at £18m. Simplistic I appreciate and approximations as well but it’s a helpful guide. I’m aware of the £10m in cash and cash equivalents. They also have about £10m of trade receivables. But on the negative side there are £22m of trade payables. So just on that calculation they are £2m in the red. If they use any of the £10m cash for a buy back then they risk not being able to pay the trade payables. Happy to hear how you think that square can be circled.