Member Info for esduk

Another great opportunity to top up on the overdone sell off this morning, which I have taken. Unfortunately (for the world), we are going to continue to experience high levels of uncertainty, conflict and trade shenanigans, which along with high levels of inflation will support the price of gold and likely take it considerably higher in the next few years (by which time Greatland will have two producing assets). Greatland are so well placed to take advantage of this, with the perfect combination of management, asset(s) and funding (big cash pile and massive free cash flow). I really don't see any cause for panic.

I have also just bought my first Gold Britannias this morning on the lower gold price, which was quite an exciting experience. Three week delay on delivery given the high levels of demand...

He’s a very clever and successful guy, with a below par fashion sense, and a penchant to wear casual clothes and ill fitting caps to investor calls. But I take that as a sign of confidence, he doesn’t feel the need to prove himself, he’s done this all before.

Insiders (the Board) own over 70% of the shares. Only reason JT doesn’t go over 50% is for tax reasons, so he provides any required funding through his family office via convertible loan notes, which until now have only been convertible at a substantial premium to the share price. He regularly talks about minimum ten bagger and I wouldn’t be shocked if it did happen within 5 years.

On a separate note, nice to see CoTec doing so well.

Very strange SP action again today, interesting watching L2. There's been 550k buys vs 60k sells and the MMs have dropped the bid or ask a number of times on no reported trades. As suspected, we had the two late reported 300k trades from yesterday (one only showed up today), perhaps more of the same today as the shares for all these buys have to be coming from somewhere.

That being said we do know for certain that rebalancing was the reason for Firetrail Investment selling a portion of their holding recently. I watched the interview with their analyst on Money of Mine, where he confirmed that due to the large increase in SP over the last few months they went over their limit in terms of value / % of their portfolio they can hold in one stock, hence the need to rebalance. He was incredibly bullish on GGP so this was strictly an internal fund allocation management rule that they had to follow. This could be the case for other funds, not sure.

I have no information / strong view on whether there is price suppression going on. I think the rebalancing theory that has been mentioned by Sageman makes sense, but again, I have no evidence to confirm this as yet. What I have done is take this asymmetric opportunity to add to my already substantial holding. Medium and long term, this is only going one way from here.

Agree re Joe Public, but I'm thinking more of serious investors (HNW individuals and institutions) that Cohen and Co will be talking to about involvement in the SPAC listing. They won't face the same barriers as PI's.

Shaun said in the webinar that Aussie institutions can buy shares on the AIM market once the company is listed on the ASX. Most of the Aussie institutions are restricted from investing in securities that are solely traded on AIM / don't have an ASX listing, but once Greatland have the ASX listing, that restriction no longer applies. So, based on Shaun's comments, I reckon we will have plenty of liquidity and buying pressure on AIM, with demand coming directly from Aussie (and other) institutions, as well as market makers who buy stock here and sell in on the ASX.

Yes, when we get the business combination agreement and associated valuation, I think it will put us on the radar of US investors. They will be looking at the SPAC valuation and comparing it to Mkango's share price, and then seeing a massive opportunity for arbitrage / to get an ownership in the Songwe/Pulawy assets (by buying MKA) at a discount to what they would have to pay on NASDAQ.

Thanks Floyd. Good to see the tax credit legislation progressing to committee stage. We knew the bill had been proposed, but this looks like it’s now got momentum behind it and should be enacted well before our US plant comes online and can take advantage of it.

And announced a trade deal between UK-US, can't be a bad thing for us.

For 300k I meant to say.

Well there is the late reported trade at 17.125p from 10:27 this morning. If a sell (which is open to question) then it squares up the book overall. But still doesn't explain all the weird SP action later in the day.

From my count, using SP at the time of trades rather than how they've been (incorrectly) reported on LSE, it's c. 520k buys vs c. 255k sells. The MM's dropped the bid out of nowhere multiple times today. Expect to see (a) delayed sell(s) at some point over the next day or two, if not then MM's are up to something / not playing a square book.

Including Berenberg dropping the ask to 16.50p at 16:29 without any trade printed. Looks like a lot of buying at lower SP levels than the selling. Not sure where the stock is coming from unless we get some big delayed trades. Quite strange all round

Very strange SP action today

Yes, apologies that was tongue in cheek, and not something I'd ever advocate. I've been invested in Mkango since it listed on AIM 9 years ago though, so I don't view it as a typical AIM share. As a result I have been willing to make it the biggest holding in my portfolio by a long way with well over 1m shares, and an average helped by over c.50% of those being purchased in the 2.8p-4.5p range. Buffett does advocate conviction investing, and a concentrated portfolio in your younger years (get to know a few quality stocks extremely well), but it should only be with money that you are prepared to lose.

Nice one Myles, and agree on everything you have written, perhaps with the exception of Pulawy getting possible US grant funding (don't think it fits with the anti European free-loading narrative in the White House). Think Japan is the most likely near term fourth nation given how much they mention it in presentations and the existing MoU with Envipro.

As I've stated, think we are in a consolidation trading range, but someone has been allowed in with the two drops we had to c.16p. Personally don't see 14p, or it's relevance, but charting/technicals is not my area of expertise. If it does reach there I will probably re-mortgage my house to take advantage...

Big 10k buyer from yesterday may be back from the look of it.