Member Info for Dartron

I joined you in another 4000, at 46.175.

I felt the same this morning. I was looking for something to cut, to use funds to add to other fallers. I have re read the last broker note from Zeus, and the IC articles, I shall not be selling CNIC. Although debt is high, the company is cash generative. I think it makes a good medium term investment, with plenty of upside. If a bid comes at £1.40 I would also be very happy (due to my first sentence).

It is hard to know why there would be selling at this level, again possibly due to my first sentence?

Sorry, mistake again, 9M shares exercised, so roughly £1.6M

WH Ireland estimates the loan plus interest as £28M, though they also estimate a similar amount of cash on the books. (Broker note 5th April 2023).

I guess most of that $75M would be available for a purchase, but not all assuming they keep some cash for working capital, and repay the loan and interest which is $47M CAD - Assuming none of the notes are or have been excised for shares - It is very hard to keep track of this arrangement! (There may have been £9M exercised recently. )

Its probably better to work in GBP, as its easier to get a feel for the numbers, the $75M is a £45M loan.

Big investment firms do not pay dealing charges, or stamp duty. Single digit trades on slow moving stock allow the bid and ask to be manipulated. You see on google, its gone up to 65p, but really it is just covering up £10k sell at 62p. Fictional example, didn't watch the trades yesterday.

Seems DWF is good value currently, though we do not know how much good value it is, due to lack of profit guidance, which was a strange choice. Happy to hold, dont expect it to move much soon.

Borrowed 75M (typo below)

I make it less than that. Borrowed 75k CAD @ 9.521% per anum. PA interest = $7.14M. Divide by 12 = $0.59M per month.

Contrast that to the original loan note agreement, which was at 8% PA in 2019, when interest rates were very low. I think that is not bad.

Original agreement - https://www.lse.co.uk/rns/I3E/16324-million-junior-loan-notes-facility-5fss4zxoh0g3sd5.html

Contrast that to the fact £2M dividend is paid every month ($3.37 CAD), another $600k seems reasonable to provide some extra capital and structure the loan in a way that it can be paid off. We even have extra 'walking around' money if we need it.

Thankyou Lawmaker for your answers. I don't disagree either. I do feel a little grumpy about this today, and while I wont go on and on, I just felt the first few chat comments this morning were not taking in to account the other side of the argument. They could have raised higher if things are going well? We haven't had much news of late really, again some better PR might have achieved a higher placing price, though I agree with your comment that they are honest, so in all likely hood there is not much to shout about.

When I have researched companies in the past, with the benefit of time you see some shocking stories around placings that a few years later just turn out to be untrue. I would pull them up on one point from todays storey - there is no opportunity yet from the other company going out of business. It would be different if they raised after securing orders. They are just being opportunistic with the timing of this raise against that other storey, which makes me think it was more needed than they claim. Also, its not great news that a similar business went under is it. You also have to watch for these type of situations where it is in the major owners interest to raise at low levels to reduce their average, TB has paid 5p for most of his stock. YGEN is another a good example there, crazy discount raise before Christmas and probably will raise again any day now, so why hold? Anyway, off to enjoy the sunshine.

Previous placing was for working capital, now we need another for working capital, yet we are profitable.

They can spin the placing however they want, but reality is we wont ever know what this money is needed for. Even year end accounts wont provide the whole picture. Dont get me wrong, I am invested here, and positive about the company, but huge pinch of salt taken with todays RNS, until proven otherwise.

Still here. I dont see the placing as positive, given they couldn't get it done at the last placing price of 3.3p. They may need another and it now sets a precedent that it will cheaper again. Given the progress they have made, and the small amount required, I wonder why they couldn't manage this. I think its time they shared some details about how the business is going rather than spouting optimism on linked in. Clear many knew this was coming also.

Glad to hear it, mine is a SIPP. The only place II fall down IMO is that it takes around a week to deposit funds to the SIPP, where as BI was next day. I still have BI Isa, but understanding the issues I listed, I keep mainstream stocks in there and rarely trade them. I also have an IG isa, which is the best platform for trading IMO. Shame about BI, its really geared for buying funds.

Is there really more info available in some private telegram group, than there is in here and the other board. I doubt it.

Telegram is for P&D stocks IMO.

I was with Best invest for a couple of years. While they score high on some areas, the biggest issues I found were,

1) information about shares is either very slow to update, or never does. For example, many recent IPO's or small penny stocks are not added to the platform and you cant buy them. Your story about BREE is typical.

2) The platform isnt really set up for share trading. It wont let you sell at market on the day you have bought. (so if you need to exit a stock you are stuck, or have to guess a limit price on a falling stock).

3) I think (not 100% sure) but all the price quotes for setssq stocks are routed to Winterflood brokers, rather than best available price. (same broker no matter what best price).

4) No ability to set up stop losses.

I moved to II last year, it is a way better platform, though slightly more expensive. However, the above issues had cost me many £100's on occasions. i.e. not being able to exit a bad purchase on the same day, not being able to set up a stop loss, paying over the odds for market maker stocks... With II most of the time when buying stocks, it shows you that the price was improved compared to the advertised price (I think they have much greater buying power as a broker). The extra costs, are outweighed by getting better prices on my stocks, and not having the problems I describe above.

If you buy stocks more than once per month its probably worth moving, on what you will save in 'execution'.

Im sure I copied the text below from here:

https://dwfgroup.com/en/investors/shareholder-hub/financial-calendar

But seems that there is no longer a TU scheduled. Not sure why the company would do that given the share price.

Probably will be able to grab some in the 50's I think before FY results in July.

I continue to hold.

Highland Mat, Shares normally take T+2 days to settle, until you are recorded on the title. (Trade date plus 2). So you need to own shares prior to the ex dividend date, (usually a Wednesday), so that in 2 days time (usually a Friday) you are the record holder to receive the dividend on the record date. Buying them on the Wednesday means that you are on the title from the next Monday (T+2).

Easy way to remember: Ex girlfriend, you have no girlfriend. Ex dividend you have no dividend.

Isdeer, If you got them later on in the day, then it was about the same benefit to having bought them the day before. In other words, the day before you would have received a 10p dividend, but on the day you bough them, they were probably 10p cheaper. So exactly the same given where we are today. You still own the same amount of stock, and have still laid out the same capital.

An ex-dividend date is the day on which a stock trades without the benefit of the next scheduled dividend payment. Instead, the dividend is paid to the previous owner. The ex-dividend date is the day before the trade's record date.

The record date finalizes the transfer of the stock's ownership. The new buyer is now the owner of record and is entitled to any dividends. The record date is set by the board of directors of a company and refers to the date by which investors must be on the company's books in order to receive a stock's dividend. An ex-dividend date is set by stock exchange rules.

https://www.investopedia.com/ask/answers/042915/what-difference-between-record-date-and-exdividend-date.asp

Well, Im only here to make money. If these options get exercised then I am looking at 166% gain. (SP needs to be 4p).

There must be a reasonable chance we will see 4p, or why bother? Yes, we might see 4p after further dilution, but the more dilution here makes 4p less and less realistic as mcap has to increase, so maybe no dilution. Perhaps just a buy out, which may allow the options to be exercised (even below 4p). I will continue to hold, happy with the odds as I see them.

Hi SB, if you are interested here is my pf and its performance (-4.4% YTD).

https://twitter.com/DartronTrading/status/1659651499109105664?s=20

I contribute a good chunk of money to my pension each month, so I feel like I am partly in cash, although the pension is fully invested. Also ironically, as a business owner, I cant get anywhere near 5% interest commercially, so benefiting from the tax advantages of a SIPP I am happy to keep pumping money in. Not everybody has a risk free return of 5%.

As for Harwood, he recently upped his stake in TON to 20%, which had very poor results today. But you have to ask yourself, what are the timescales, im sure TON will come good, just like EKF. Hope to grab a few EKF, cant see it going much lower now.

Been a while since I tracked it but this is what Shubham Garg uses

https://www.rbcrichardsonbarr.com/

https://www.gasalberta.com/gas-market/market-prices

100k buy above ask gone through..