Member Info for Dartron

Https://www.youtube.com/watch?v=CFU3BtzETK4

I would suggest watching this video, where Ken Wotton lays out exactly what 'SEC' is. Gresham run this fund, and in short they run a highly concentrated pf, where they become the largest share holder in the companies that they own. They then apply a private equity model (keeping the investment public). The PE model, allows them to help and improve the company (contacts / funding / guidance / M&A). In fact, if you look carefully SEC were already shareholders prior to the drop and were responsible for finding and placing the chair Richard Last (this is stated in the 2024 SEC report).

IOmart is clearly a decent business which was badly run, with the guidance of this team I think they will add a lot of value. I would say, pay particular attention to the Ricardo piece that Ken mentions in the case studies at the end, a similar situation where the price collapsed after they were holders. They managed to assist with a decent exit protecting their down side. Although they only broke even on RCDO, the share price made a 81% gain from low to take over. I would say we are at the low currently.

As they say themselves in the presentation, they can be corner stone investors - i.e. providing funding where necessary. So I would say that there presence at least's derisks things financially. I hope personally that they are working on selling Easy space (domain names) , which would bring down the debt significantly, and allow them to focus on Atech. Personally I think its a good thing that founder Angus MacSween is no longer the largest share holder, he now has Greshams 29% vote to consider.

Here is fellow Gresham manager Brendon Gulston discussing IOM last time he was on Vox (I asked the question).

https://youtu.be/UtAzT0QZh98?t=1130

Thanks, wasn't aware about Autins. But from what I recall, CTA is manufactured under contract. The parts are bespoke to each customer, requiring tooling so probably require a contracted order. Autins doesn't sound in the same league IMO.

"CT Automotive secured eight new contracts worth approx. $37 million annually" from last TU

Deutsche Bank Research cuts SThree price target to 290 (360) pence - 'buy'

Berenberg cuts SThree price target to 250 (390) pence - 'buy'

I would like to see this research, for 2026 we are already looking at a PE of around 10 at the current price (140p), hard to see how it would be good value at close to double that. I am wondering if S3 have pitched 2026 very low - how can they even know! Perhaps the brokers are a little more confident ?

Further research in Germany/Nederland's required to understand the potential I think. At least its not just the UK economy we are geared against.

Its a good contrarian indicator!

I suspect their risk team just think the odds are not good enough, and that they cannot hedge it well. But I dont know the actual reason.

Did get worse!

Wow, UT trade at 97.20 for 23,397 shares. Another share I feel could break out to a new high fairly soon.

Look at Treatt, got taken over on the cheap (had some decent factory's as assets, so not dissimilar). It was said that management get incentivised to recommend these deals. I believe that. Tyrus will be puling the strings here. The only hope IMO, is an activist but JSE probably too murky for an activist to be sure of making money.

If I got an exit here, I would buy a commodities based inv trust like BRWM or BERI, add to SLP, and maybe use a tiny bit as seed money to fix my other problem stock - JLP. Those trusts yield in excess of 6% and will beat inflation, SLP is going to have a good run and should yield over 7% plus capital growth, HBR yielding 10% and conducting a buy back. JLP - if I doubled my money here, the gambler in me would throw some JLP's way or PANR but it would be a tiny amount.

The investment trusts work better than junior oilers I have found from experience, easier to go big on them as you have far less concentrated risk. In a commodities bull run, they could still do 25% upside in short order. I doubt i will see that from JSE. As this thread began, they have little to no incentive to increase the share price here.

I did what I could, backed my theory.. Sold what I could in hope of getting them back low 220's.

Just seen a nice 100k share sale go through. 🤖🤖🤖🤖🤖🤖

TBH, Legache, I see far better opportunities elsewhere. If my money doubled here over night, I would take my loss and move on. I do think that the weakness is from BG selling, and to be fair its an opportunity for people like us to get some shares really under value for once, with hopefully a short hold time. To materially change my entry, I would have to buy too many. I view my purchase today as a seperate investment. If I had no JSE, I would buy today.

One more thing that decided it for me - IG would not take a long spread bet on JSE, meaning their boffins must think its a dead cert to rise..

Its 32p currently, you would have to get to February 26 for the price to drop to 28p, then by march you would be looking at 24p. I think this is unlikely personally. I do think it will be under 30p however. Therefore, I will not exit with a profit here - needing 37p. Even a b/e here would be a poor result, having held for so long. I do agree that they are under valued currently. I took a few, but I cant significantly average this any more. Terrible mess.

Im expecting fireworks here. I think it could even take out the recent low, and drop to close to £3. At which point, I will back the truck up.

I think with so many shorts, they must know that there is still a seller to clear, and the seller is running out of time. I dumped what I could as mentioned.

PRV raised to buy from add by Peel hunt (no other info, it was showing in trading view).

Thanks all. I am working hard on the tending weeds part of my p/f. BEG is my largest stock, representing 5.4% of my pf. I did trim it weeks back when it first hit 120p as it was over 6% for me. However, I do believe what I have posted, and I will not trim any more, even if this does rise to 7% or so. It is worth scaling in to cheaper stocks, but that should be a secondary action to riding strong trends. I have a huge shopping list currently, but no spare funds. In the past, I would sell some beg and take profits, but I think its one of the strongest ideas out there currently. I cant justify selling any now. I really think we will see 140p, which is another 20% from here. Very difficult to see any downside here also.

I have a few week cyclicals (and weak income, which I think you are in too SD) which should come good eventually, but I think there is time to wait before buying those. Besides if you keep taking small profits, you are going to do it on the stocks you average down on.

I like LUCE and it is deffo on the shopping list for some more. I also like Harbour energy and PANR, and I think its worth holding PANR as it will easily break out again after the flow test. Company is funded now, whats not to like.

AMS results out tomorrow, been a huge waste of 2 years invested with a circa 5% stake. But look at the GBG post I wrote, over 10 years GBG returned 2500%, you wont get that if you take small profits or get bored.

Bit disappointed that Montanaro have trimmed a few shares - I happen to hold MTU as well. It was one of their smaller holdings out of circa 30 companies, but I thought the update was very promising from Luceco. MTU are using capital to buy back shares, so perhaps needed the cash. There were plenty in the list I would have sold rather than Luceco.

Pantheon Resources Mangrove Partners IM, LLC 0.46% -0.10% - under reporting threshold now.

The GBG weekly chart tells a fascinating story, of a stock that went from 20p to £9.70 - a rise of 25,943% in the space of 20 years. In fact, it traded around 5p for a few weeks back in 2001. All the money was made in the later decade 2011 to 2021. Any of the AIM funds who accumulated around the 20p mark, are still able to exit today and realise a 600% gain. Though they must (and should) feel like bag holders! I am looking at the weekly chart, as I think it is very interesting currently :

We have a double bottom from Sep 23 to recent Aug 25. It seems on many stocks, Autumn 23 was the low point for many Aim stocks. It would make sense to sell of back to the low point, since the AIM funds need to exit. Looking at the volume, we have the largest volume bar since back near the IPO at 20M last week. This coincided with Citadel Advisors LLC closing a lot of their short and dropping below the reporting threshold. Systematica Investments Limited increased 0.1%, which is taking over a little of the short from Citadel IMO. Hopefully is just a short term trade for a few more points. On this basis, and the Wykoff pattern I have mentioned before, I expect the price to drift back down to near the lows (which should be the last time it does that). This would tie in nicely with GBG being able to publish a date that the move to MM is to occur, hopefully soon, forcing the rest of the funds to sell and the shorts to cover.

If the business is doing remotely 'ok' we should be able to get back to a rerating of around £3.70 (Maybe early 2026 ?), which is the consensus from 10 analysts and also would be the top of the range between the double bottom. Although once the dust settles we are going to need a period of consolidation, hopefully this is done in the £3's. Last year GBG published a trading update on October 17th - I expect this would be able to lay out a time table for the move, unless it arrives earlier. Ashtead tec has managed to confirm their date for the move is October 6th. Currently shorts are increasing over there, but I think GBG has had a longer sell off, and may have less IHT holders. Hopefully no more shorts arrive.

Its worth considering the long term chart here, to truly understand the ride this stock price has been on, and what other players holding the stock may be thinking. There is certainly scope for downside, from the chart, but hopefully not the fundamentals.

Was just looking at the weekly, going back to November 2023, the chart has made quite a text book cup and handle. The handle being from July 2025 onward. Look at the volume drying up in the handle. I can see this breaking out and attacking the ATH, which is about 148p. At that point, you could say that the last 3 years have gone on to make a a bull flag from the strong rise that this stock had back in the late teens. Also if you look, the two highest volume bars - ever - on the weekly / monthly, occur inside the cup I mention. I am seeing a lot of stocks really setting up out of the bear market. Could just be wishful thinking of coarse..

In many cases, I feel the chart pattern will end with a TO - like Epwin windows, similar C&H over the last 5 years.

But to your point Chillpill, I think we are seeing volume dry up, which is not controlled by market makers, rather market participants. Beg has clearly turned to a strong buy, and a lack of sellers will force a break out any day now.

Https://www.constructionenquirer.com/2025/09/12/severfield-design-chief-makes-move-to-billington/

waste of time that article, just regurgitating the known facts. cheeky to even try to monetise it imo.

did someone say ****ney rebel was posting about this stock? i cant find anything in his substack.

its dragging on a bit, isnt it.