The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Poly closed today at £12.2, just shy of an all time closing high, tomorrow could be the day it does an all time daily/weekly closing high, OVB holding in POLY alone worth over £15m now, yet OVB market cap £9.5m, crazy value here!! Should be trading in the 20p+ range
He hasn’t bought just on Friday, he increased his position on Friday, baring in mind most of his holding was bought Around the 0.1p-0.15 area, he saw it rise to close to .5p, 300%+ profit and still didn’t sell any, yet he added more?!? Very interesting...
I took a few on Friday between 0.16-0.2p, I don’t advise anyone else to buy unless adverse to a bit of risk taking, as it’s a very very high risk play now.
It’ll go one of 2 ways, either suspension, and you don’t see your cash again, or potentially a multibagger.
The company have very little cash left And will soon be left with no nomad and suspension. Or the other way it could go is if the guys trying to bring their business into MOS, fully fund the company going forward and a new Nomad Is appointed being happy with the new strategy, also they can’t raise below 0.2p as that’s nominal value.
Anyway, will be an interesting week, again very high risk, but some of the biggest risers come from these plays, good luck.
Not a lot to be honest. Basically the transaction needs shareholder approval at a General Meeting, so this is notice of that on 31st October.
Also the shares issued for the transaction were at a price of 1.65p, so over a 40% premium to where the share price is now.
I bought today, not because I like the deal, but just because I think there’s a decent short term trade back up in here, recently hit 3p now back at close to 1p, reckon a move to 1.5-2p could be on over the next few weeks, chart looks good for a move back up!
Very tight indeed - only 50k sub 6p available!
This stock has all the right ingredients, just need management to produce the goods now and I think Erris does a very big move! Tiny market cap, plenty of cash, JV and partners with not 1, but 2 billion dollar companies, abbeytown showing signs of commercial project, looking for a JV there to prove that and derisk it, which will add significant value to the asset for Eris, don’t know what’s not to like at this market cap!!
ERIS IPO’d 2 years ago & raised £4m at 25p, cash been spent predominantly on their Abbeytown project, proving it up which they have. Share price currently 5-6p area, needs to do between 300-400% to get back to IPO price, think a JV announcement is really going to catch the market out here, even more so if all money spent to date on the project is paid back to ERIS in the JV agreement. Strong management with David Hall and Jeremy Martin both from HZM, they clearly have contacts to get it done! Also potential huge FREE upside if Centerra make a gold discovery and decide to farm into it via their JV agreement, again all exploration is paid by Centerra. I sense it’s going to be a big few months for little old ERIS
Targets looking upwards of 20p, it’s actually crazy to see ERIS valued at cash considering their assets.
Potential Catalysts
Centerra update - all work is in a free ride to ERIS as it’s fully funded by Centerra, but a gold discovery would be huge for us at a sub £2m MC
New project being bought in
Abbeytown JV news or even a direct sale of the asset as previously mentioned
Anyone of these has the ability to re rate the share price considering eris is current valued at the same amount of their cash holding!! The biggie for me is a JV for Abbeytown or a monster gold discovery by Centerra
Price action incredible, haven’t seen ERIS look this strong, well, ever! Constantly going NT to buy, and BID was rising all day, finishing the day with over 200k on the bid at 5.3p. Think we are very very close to seeing a break of 6p now, which in my opinion opens up 8-10p range to start with! Which is still only a £3.1m MC - personally looking for news around JV developments for Abbeytown to see a really big move here, think it’s going to take some by surprise over the next couple of months
What would it take for you to change opinions here? We’ve already seen they can get deals done with the joint venture with Centerra for gold exploration in Sweden and Finland, which doesn’t cost Erris a penny. If they can get a JV over the line for Abbeytown, that will be monumental news, and something that will cause a few 100% rise from a £1.6m MC with more than that cash! Let’s see how it plays out...
Erris Resources Ticker #ERIS
Market cap £1.6m
* Listed at 25p December 2017
* cash at end of May €2m (£1.8m)
* Tight control over cash expenditure
* Cash being same as market cap gives entry at this level a good risk reward considering assets and joint venture with billion dollar plus company come for free
* Companies flagship Abbeytown project in Ireland seeking joint venture partner, if this lands it’ll be the most material news since listing in my opinion.
* Galway project - located not to far from the famous Tynagh mine, this area is relative unexplored and so the company has started a soil sampling programme which is ongoing and will hope to eventually find a JV for this project also.
* Has a joint venture with billion dollar TSX listed Centerra Gold for gold projects in both Finland and Sweden - as per the joint venture Centerra fully funds the work programmes
* Eris also has other gold projects in Sweden that doesn’t come under the JV agreement with Centerra
* 42% of stock held by major holders and management with David Hall holding almost 22% leaving a FF of roughly 58%
* Looking at other assets that could compliment portfolio
I see Erris being a very good risk reward trade at this level considering cash covers market cap, meaning all projects and JV with Centerra thrown in for free, ultimately any positive or material developments in any of these projects should start a re-rating of the ERIS share price.
Good day yesterday, huge volume considering the free float here is only 660m with 2 II investors holding the other 527m between them. New base has been set above .1p - I wouldn’t be at all surprised to see a quick pull back to fill the gap up from yesterday down to .1p, but I can’t see anyone getting .1p on the ask, I’m thinking maybe mid price, so .11p cheapest maybe..? If that happens I reckon a wave of new buyers will jump in and from a £1.3m MC I see this doubling to very short term after yesterday’s news
I’m well up on my average of .075, but don’t intend to sell any at all just yet. This is huge news today for such a tiny market cap company, I honestly see this being a slow burner over the next couple weeks to above 0.2p which would still only be £2.3m MC - make the most of this level as it’s going higher imo, currently above the 200ma on the chart for the first time in years
Agree I think this could now put in a pretty decent move higher considering the market cap, the premium raise which is locked in (not going to be flipped) and the future business model changing to involve IOT - great update
Larger sells seem to have dried up, yet nice buys still at this level. There isn’t much available under .1 now, I expect when 0.1 level breaks, we could put in a decent move on the breakout, 200ma currently at about 0.108 area, if that breaks I see a move to 0.15-0.2p, 0.2p still only valuing the business at £1.75m
Good day again, on plenty more radars now, still only £800k MC at this price, 50% from here will be £1.2m or 0.4, think that should be a very easy target to hit over the coming few weeks, a lot of money in much higher than here, including managements
Nice volume today, all the trades into close were buys shown in red, just before close the ask had moved up to .254, yet the MM’s dropped the bid to .232 trying to scare a few out! Decent day and just over 8% of the entire issued share capital traded! Let’s see what tomorrow brings!
Also, their cash has organically grown in the 6 months from December 2018 to June 2019 by £327k.
They had £263k cash in December 2018, they raised £300k in May 2019, and then had £890k in June 2019, so that’s a £327k increase, bodes extremely well for a company to grow cash that amount when market cap is £800k!!