The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I bought into this share about a month ago with a reasonable amount for me (about £60K). Been a slightly bumpy ride since.
Anyway, the reason I bought in is that IMO this was undervalued compared to other shares that had been battered and I thought then that by the time the vaccinations have really got underway that this would climb above 120, perhaps to 150. I am fully expecting that this will be climbing gently for a few weeks and then burst up in mid March to Mid April.
Just bought a bucket load of these this morning. Hope its money well spent!
I was convinced that we would finish at 2.10 on the ask. Just after 1:30 there were 150,000 shares on the L2 ask at 2.05, and 53000 were taken leaving 97000. Subsequent to this over 1 million were bought at or close to 2.05, but the 97000 didn`t get taken out. Strange.
Anyhow, I will eat my shorts if we don`t open up in the morning.
AMC trading always seems to be much heavier in the morning. I think that we will close with the ask around 2.10 today and then open a fair bit higher in tomorrow, say 2.20 bid, 2.35 offer now that the overhang seems to be gone.
Thanks Tuckman, I do read the RNS messages. The 30th September RNS stated;
It is the Company's belief that the successful completion of a binding offtake agreement will provide access to the types of institutional investors who provide financing for BFS programmes. We envisage that this funding will be principally through debt and would be sufficient to fund the BFS programme and sustain the Company's activity through to the completion of the BFS.
My point is that if the BFS is covered through debt, we don`t need any further dilution for running costs.
Here is my take in the short /medium term funding situation.
As at 30/06/2020 we had $ 831,000 in the bank. Since then Plena have stuck $ 682,450 in the bank and we have $1,400,000 left over from the August placement ($6,100,000 less $ 4,700,000 to NRR). This gives us $2,913,450, and we are burning $2,600,000 every year. We have $ 660,000 coming in each year from our 14% coupon so we shouldn`t need to raise any cash from any further share placements until February 2022)ish)
Agreed, but in the month up to 24th August there were roughly 100 million shares traded and in the month since 25th August when the 360 million shares were placed, there have been 550 million shares traded so we must be getting close.
Some of you may recall that I was pretty sceptical about the EGM and the vague explanation for the increase in shares, in fact I voted against the resolution. I must say that having looked at the the details set out in the RNS that I do think that ACM has made a pretty good strategic deal here. In fact I would go so far as to say that this is a very good deal that could deliver significant upside in the medium term, as well as providing cash flow immediately.
A new coronavirus testing programme at Heathrow Airport could avoid the need for travellers to quarantine when arriving from high-risk countries, the airport's boss has said.
Aviation services company Collinson and logistics firm Swissport said more than 13,000 Covid-19 tests will be available to passengers each day, with results "within hours".
It is proposed that arrivals will then take a second test at home and will be able to leave quarantine early if they pass both.
The new facility has been set up in Terminal 2 of the west London airport - but the proposed system needs government approval to go ahead.
Heatlh Secretary Matt Han**** told LBC radio that the government was working with Heathrow on the plan but it must be made "safe and secure".