Member Info for Dartron

Stepping in now including this 1M buy:

04-Jul-23 09:17:49 34.50 1,000,000 Buy* 34.00 34.50 345.00k O

I just got some more at 34.4.

This hit 1.30 last week, 3 days running. This is going to have no problem getting back to 1.45, then posssibly more if the update is good.

Look at the buying history, JF has bought a few times. Last time at roughly 20p (.355 CAD). He seems to have the same problem as everybody else....Every time he buys, the price goes lower. Im sure it is important to him to get his average a bit lower. There is no guarantee that the BOD would take part in the placing / financing, so perhaps he is buying now while he can. Perhaps they need to stabilise the share price, to negotiate the financing!

So the new contract is to make - complex turbo charger bearing housing castings to the European automotive OEM.

This is a little ironic, as it was Turbo charger parts that got Chamberlin in this mess in the first place. They lost a large contract for Borg Warner around 2021 (partly blamed on Covid) but in reality due to losing business from BW.

https://www.lse.co.uk/rns/CMH/final-results-h448s7n0yo6dssm.html

"It is with considerable regret that the Board has to announce the huge losses that it has suffered for the period to 31 May 2021, albeit these were largely caused by events outside of Chamberlin's control. The combined impact of COVID-19 and the decision by BorgWarner inflicted near fatal damage to the very existence of the Company."

I think the market would be more excited if CMH had managed to secure a contract doing something different, other than Turbo chargers. I know I would have been. They need to demonstrate that they can move on from combustion engine technology, and secure something with more longevity. I wouldn't be surprised if this customer is an old customer from prior times (BW are American so it isnt them). Magna maybe?

How can you say the chance of capital appreciation is the best for a long time?

Many of us here are expecting a massive dilution.

Https://www.theguardian.com/business/2023/jun/15/crispin-odey-hedge-fund-disbanding-sexual-misconduct-allegations

(Dozens of media articles if you search his name).

Crispin Odey WAS a hedge fund manager, who did very well. One of his funds had 6% of JSE. He has been acused of sexual misconduct (Again). There was a run on his funds, and he was a distressed seller.

This is nothing to do with Jadestone, other than an amazing opportunity, for once to buy at 20% under the big boys. I expect the big boys have taken some, as it is just too many to sell piecemeal. We should expect notification that his holding has reduced, and we should probably expect another notification if someone acquired more than 3%.

Every now and then in the stock market, you get offered an incredible opportunity, this is believe is one of those.

He also sold SHG building materials, and Shanta gold it sounds like. Probably many more.

Nearly another 1M shares transferred at 30p. I managed to sell some this week, but could only get a quote for the market size.

30-Jun-23 16:18:38 40.10 750 Sell* 40.00 43.00 300.75 O

30-Jun-23 16:18:11 32.00 500,000 Sell* 40.00 43.00 160.00k O

30-Jun-23 16:18:02 32.00 498,440 Sell* 40.00 43.00 159.50k O

30-Jun-23 12:44:51 40.50 12,330 Sell* 40.00 43.00 4,994 O

30-Jun-23 08:26:40 40.60 24,000 Sell* 40.00 43.00 9,744 O

I remember at the last webinar, Majid was asked about leaving AIM, but he said he would not because "he likes the access to capital it provides". I really can not see how an acquisition wont be dilutive.

Has anyone done any research as to what - just - the borrowed cash might buy? (not my area of expertise).

Watching the recent market call show with Eric Nuttall, where he evaluates Canadian O&G companies, it sounds like they are all overloaded with cash (high FCF), so I fail to see how a cheap asset would be lying there waiting for I3 to notice it - thoughts?

Worth a flick through this for anyone less familiar with how it looks over in Canada.

https://www.bnnbloomberg.ca/market-call/full-episode-market-call-for-wednesday-may-31-2023~2695078

The video they link to in the RNS is here:

https://www.jadestone-energy.com/wp-content/uploads/2023/06/Akatara-Development-Project-May-2023.mp4

Regarding this 'seller', I expect the market makers took a load of the 33.5p Odey sale, and are flipping it for 34.5 upwards.

I dont think it will last long. Once these stocks find the sticky hands. Todays op update will certainly help the matter.

The shares are cheap currently and in my opinion carry very little risk at 35p. I cant help myself here, buying and buying.

Largest position i have ever had, really try to hold it for at least 12 months and see where we are. Glad I will be on holiday soon and unable to sell as it breaks higher!

They have been very competent to the original backers, as Louise10 points out. This sentiment was expressed on the other board, something like "sucker income seekers in". Lol. I am guilty of being a 2022/23 fan of I3e, but most here with a 20p average have just given the institutions a great exit and money to do it again on the next acquisition. I am fortunate in that my ISA I bailed last summer at 24p and paid my mortgage off. But down in my SIPP. Will look elsewhere and not use O&G for income again, only growth, so actually like JSE 20% under the placing.

So that would be to fill in some form online and have a AI bot guess what might be wrong with you. What an excellent waste of money, from the people who couldnt even get a Covid app working.

WCSBCanuck, Tony knows this but seems to just like an argument. The dividend should never have been so high, I think in hindsight it demonstrates some level of incompetence.

The market was screaming something was up, I think most of the II's just worked it out for themselves rather than any tip offs. The EPS has declined almost on a monthly basis (as produced by Factset). I mentioned this once here that it is printed in IC mag, but this was dismissed. Glad I have not bought any more for a while, I honestly think there are far better returns out there for capital growth and dividends. The risk of either dilution, or further financial incompetence, or just poor sentiment assisted by such poor PR makes this a no for me. I shall look to sell on strength as and when.

Thanks.

The drop doesn't really make sense to me. I am still sceptical that Foulston would sell shares this low (clearly she does not need the money). Its not 100% clear if she has sold any. As for the legal action - crazy. Grow up all of involved.

Sporazene2 at 12:05

See that on ADVFN, saying placing not imminent. nearly fell of my chair.

Jadestone energy, another one. Had to aggressively average down, as I'm sure I will here too.

Experience tells me there is no rush. Even IQE (which opened above the placing price) is now below.

No point in catching a falling knife here, buy something with positive momentum until the dust settles. TXP is my choice.

Once you have seen a few of these on other stocks, it just becomes very obvious. Clearly in a few days time the shares will not be worth more than 16p. Its already done IMO. Cue the drop below the placing as disgruntled PI's sell out, and the II's who sold at 18p can buy back their shares. Chuck in a good dollop of warrants, and its the perfect AIM dogs breakfast.