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The market is going to read today's RNS with its eyes closed which tells us NOTHING we dont already know.
It's just another RNS to try and keep the momentum going.
Argo still have £75 MILLIONS of DEBT ($90m).
Here are some facts...
Net Profit 2020 was £1.44m
Net Profit 2021 was £30.8m
Estimated LOSS in 2022 of £48 MILLION !
Forecast LOSS in 2023 of £29 MILLION !
According to Stockopedia they had £109 million of debt so still have debt of £75 million.
I'm not deramping. This deal IS good news, but recovery still rests on a recovery in Bitcoin prices.
Drilling is progressing well at San Domingo; we are 50% through the programme. Samples are being assayed currently, and results will be released before year-end once sufficient mass is received.
So, has sufficient mass almost been received?
https://twitter.com/neillricketts/status/1487863491226738699?t=5m-ECJkrq5HzDqd8XPNN6w&s=19
Taken with a pinch of salt, because you never see what really happening.
Sold Value £50,377.67
Bought Value £31,567.04
Some HELD Facts
12.5 Billion shares in issue
Down 50% today (as of 3.22pm)
Hellenic Dynamics is backed by Tel Aviv-based, London-listed medical cannabis company Kanabo Group PLC. Kanabo shares were 32p in 2021. They are 2.4p today.
The UK SPAC who bought Hellenic Dynamics paid £31.2 million and then raised another £1.1 million in fresh funds as part of its relisting.
So a £32.3m company now worth £16.15m. HALF of what it was worth at 8am on first day of trading.
Tells you everything you need to know really.
I'm not sure Wentworth holders (probably now sellers) will rush to buy Aminex shares.
Although some posters seem to have reservations about Wentworth's management and their ability, on Stockopedia, Wentworth has a Quality rating of 72 and overall rank of 98. Not bad. In comparison, Aminex has a Quality rating of just 23 and an overall rank of 32.
Wentworth have £-27m Net Debt (the minus means positive cash so no debt). Aminex have net debt of £-6.3m so not as much cash (but admittedly no debt).
A bird in the hand... Aminex made a loss of £8.1m versus a net Profit of £8.8m for Wentworth.
Stockopedia doesn't always get it right, but it does use a lot of clever metrics (and audited financials) to arrive at it's scores and rankings.
In summary, the main difference is that Wentworth are making profits now, whereas Aminex might start making profits in the future.
A bird in the hand...
A few posters have said Wentworth holders (probably now sellers) might put some money into this stock.
On Stockopedia, Wentworth has a Quality rating of 72 and overall rank of 98. In comparison, Aminex has a Quality rating of just 23 and an overall rank of just 32.
Wentworth have £-27m Net Debt (the minus means positive cash so no debt). Aminex have net debt of £-6.3m so not as much cash (but admittedly no debt).
Aminex made a loss of £8.1m versus a net Profit of £8.8m for Wentworth.
Stockopedia doesn't always get it right, but it does use a lot of clever metrics (and audited financials) to arrive at it's scores and rankings.
In summary, the main difference is that Wentworth ate already making profits whereas Aminex might start making profits.
Down 35%
So things are not going as planned as a previous poster said
Dropping
At 07.45 this dropped 17% on my trading system showing an open price of 10.5p.
They are expecting much lower advertising revenue moving forward. However, currently this gets 95 out of 100 for "Quality" and has a stock rank of 93 on Stockopedia.
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** U.S. shares of Israel-based digital advertising co Tremor International Ltd TRMR.O sink 24.8% to $6.63 premarket.
** Stock among top three biggest pct. decliners across U.S. exchanges; set for lowest level in a month and worst day ever, if losses hold.
** TRMR expects "rising inflation, rising interest rates, geopolitical and macroeconomic uncertainty, recession concerns, and widespread global supply chain issues in certain verticals such as automotive" to weaken ad demand in 2022 and beyond.
** Q3 revenue falls 19% while adj. EBITDA falls 29%.
** U.K. shares TRMR.L hit their lowest in about a year; worst performer on U.K. bourse.
Or the share price might have already 10 bagged or 20 bagged.
There is no such thing as a leak free ship and they wouldn't have been able to resist telling people that news last night but they would have been obliged to release that information to the market anyway soon as it was available.
jme wrote
"Geordie - How do you know they haven’t been in the data room for months already".
Because BOIL would have announced they were in talks with an interested party and the share price would be 4 times what it is now at least.
Nothing is getting sold without a tonne of due diligence and all of the other legal work that would be required for a sale which will take at least 3 to 4 months.
And they're all permit reviews and lots of other things that need to be done before a buyer would part with their money.
"Markets often seem irrational over the short-term but are seldom inaccurate over long-term".
"The best way to make a small fortune is to start with a big fortune".
Yes, massive potential, but still year(s) away from production and will need to raise cash (and lots of it) to pay their part of the HUGE costs.
Even if they farm it out the 2.5m they have now wont last long.
All of the above is the reason this is barely hitting 0.2p.
Whats to sink in?
The core obligation is set out in DTR 2.2.1: a company must notify the market, through an approved Regulatory Information Service (RIS), as soon as possible, of any inside information concerning the company. AIM companies are under a similar obligation, imposed by rule 11 of the AIM rules.
For a stock market to work efficiently and fairly, two principles must apply: companies need to release relevant information as soon as it is available; and all those who want to deal in shares should have access to the same information at the same time.
Rules to that effect are contained in the FSA’s Disclosure and Transparency Rules (DTR)
https://www.pinsentmasons.com/out-law/guides/disclosure-of-price-sensitive-information--fsa-rules
By daily high I mean we were up 47% at one point and are now only up 23% which is half of the highest daily increase.
Toptuf is correct. There are strict rules that govern the release of important price sensitive news ie what must be released via a timely RNS versus what can be announced at a webinar or AGM etc.
If they are aware of price-sensitive news now that they withhold until tomorrow they would be in breach of market rules.
Whilst I do not think a placing is on the cards in the short term, I think any fantastic news would have already been leaked and the price would have maintained its daily high rather than drop back like it did.