The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The author does not provide any indication of a potential valuation. I could understand her argument if the value of the company was lower than the market cap.
The key line for me is "The recent share price hike may have already priced the positive speculation in" with emphasis on the word *may*.
If she could offer some indication or workings of what her valuation of the company is then I may find her arguments more believable. However, when I read this I just think she had taken one look at the recent share price movement and not considered any other factors or how truly undervalued the current price is.
lmao
Exactly ferg.gg the other dates in the same document confirm it is from June unless the person got their dates around the wrong way when adding to the document!
Now even if it is from June that may not be a bad thing (just it was identified some months later) but I do think we have to question what this actually is and why we don't see any other official references to the same licence number... yet.
Lets get the facts and not jump to conclusions yet. I really hope an RNS from the company on Monday can clarify.
GLA
Have realised the Russian text doesn't format correctly on here but if you can get the translated text from A1ex's links on Twitter. Sorry about that!
I was very excited about and appreciative of the information A1ex had shared yesterday (thanks A1ex). However, I always try to do my own research into any posts here to confirm and/or make my own judgements on findings. I have a large position in EUA but I had some doubts on the dates on the licence presented without any RNS. Please correct me (constructively please) if I have made error or you can add to this information.
Item 75 shows the licence number as ??? 03904 ?? in Russian which translates to SVE 03904 BP in English. Searching google for the English version doesn't yield many results but search for "??? 03904 ??" and you can find a number of references on Russian sites to this same licence.
These sites show the licence as granted in June i.e. 8th June, not August.
For example (under latest events):
Original: https://synapsenet.ru/searchorganization/organization/1026601102725-zao-kosvinskij-kamen
Translated: https://translate.google.co.uk/translate?sl=auto&tl=en&u=https%3A%2F%2Fsynapsenet.ru%2Fsearchorganization%2Forganization%2F1026601102725-zao-kosvinskij-kamen
"On June 8, 2020 , license No. CBE 03904 BP "Geological exploration of subsoil, including prospecting and assessment of mineral deposits, as well as geological study and assessment of the suitability of subsoil plots for the construction and operation of underground facilities not related to the extraction of mineral resources" began to operate. License expiration date - 08 June 2025"
Now maybe those sites are wrong? You can search for licence information on the Consolidated State Register of Subsoil Plots and Licenses at https://www.rfgf.ru/license/ (note you can't translate this page when searching or the search engine breaks). I used the advance search engine (second navigation link at the top of page) to search for "??? 03904 ??". Here I could find no reference to this licence at all. I could find references to other licences (two) by searching for the company name "??????????? ??????". The most recent is in 2015 (https://www.rfgf.ru/license/itemview.php?iid=2715081) which is the same as what was in the PDF A1ex linked to.
Then I realised there is actually another search engine for exploration. This is the Consolidated State Register of Geological Exploration of Subsoil at https://rfgf.ru/gin/. However, this also did not yield any results which would help support any of the above (maybe someone could help dig into this some more).
Therefore:
- are we looking at old news? If so why no RNS?
or
- the sites are wrong and rfgf.ru are very slow to update their databases?
What am I missing?
GLA
Point 79:
"Geological study of the subsoil, including prospecting and evaluation of useful deposits fossils, as well as geological study and assessment of site suitability subsoil for construction and operation underground structures not related to mining"
The "not related to mining" point has me concerned. What does this mean?
45p
Hi Ian, can you please put my name in for 11th August. Many thanks.
Interesting comments here on Jub Capital and the way in which they operate (operated). If true then I'm glad karma is finally catching up with them. No more parties for the broker boy!
https://www.guerillainvesting.co.uk/2020/01/02/open-letter-to-aaog-finncap-nomad-who-the-fk-are-oxford-energy-ltd/#comment-14099