Member Info for ICB888

If you look at PRD over the last 6 weeks and its share price increase of 150% from its onshore drilling in Morocco. It may well be that CHAR are seizing a not to be missed opportunity that will compliment its offshore project and bring early cash.

If anyone cares to review Seingred’s posting history over the years ( I wouldn’t recommend it) but you will see how he has changed his tune many times to try to assist his trading strategy at the time. He doesn’t like being called out as a deramping trader but just look at his posts he deramps but often tries to introduce some low level hope. In my opinion a nasty piece of work but form your own opinion and use the filter button if you think it is appropriate.

DDD thank you for introducing something new and potentially very good for the gold price to this bb. The bb is fast becoming as bad as advfn with the deramping drivel based on nothing as there has been no news other than the sales process continues with considerable interest. Thanks to the few posters who have something sensible to contribute while the deramping traders make things up to talk their book. News will land one morning and I look forward to them getting their fingers severely burnt. The filter button is an obvious solution.

“SMALL COMPANIES

This fintech fund's 37% discount is hard to ignore

It's cash-rich and delivering healthy gains with a series of success stories

July 5, 2023

By Simon Thompson

Net asset value (NAV) up 2.4 per cent to 158.9p

Closing NAV of £277mn after performance fees

Post period end disposal of stake in Cushon

36.5 per cent share price discount to NAV

Investors are taking an incredibly conservative approach to their valuation of Augmentum Fintech (AUGM:101p), the first publicly listed fintech fund.

Despite delivering an impressive 18.5 per cent internal rate of return (IRR) on invested capital since inception, making £78.5mn of realisations from five exits, or three times the capital invested, shares in Augmentum trade on a hefty 36.5 per cent discount to NAV of 158.9p. Moreover, the group managed to deliver modest NAV per share growth last year, too.“

The article continues in some detail on IC site.

A couple of decent buys have just dropped to start recovering yesterdays fall.

Buys starting to come in now. Up 2.2% on volume of 159000.

Currently showing Up 8% on the back of an AT trade at 18.28p. It will soon change on the next AT trade but hopefully indicates today’s direction of travel.

There is an article in Todays Times on AUGM. Comments from the CEO and running through the highlights of yesterdays results. Good publicity.

Gazzleberry

I think you are forgetting that Daniel Masters is a Director and Shareholder of Satoshipay. Dtransfer and Pendulum are on his watch. Look at his track record. He is no geek and will be providing the business and financial rigour that is needed to make this a major success. He will also have the contacts to get Satoshipay bought out for very serious money. Patience will be well rewarded imho.

I agree with ElectricLion that this is indisputably good news.

As to your comment about having to make an offer for the whole company I believe that kicks in at 29.9% so he does have scope to invest a few more £millions at a future date.

Gazzleberry

If you refer to my earlier post you will recall that Dtransfer is the forex payment company already established and that has the potential to be huge utilising Pendulum. Alternatively it will be fine for a large financial institution to take them out at a huge premium. Your top up suggestion would appear to be a good one.

Blubutton has started referring to Dtransfer as MIA. If you look at the Final Results from 7th March 2023 it states:

“ Outside of Pendulum and its linked business opportunities, SatoshiPay owns 100% of Dtransfer which was established in 2019 as a cross-border payment solution on blockchain. The directors of SatoshiPay believe the money transfer market is primed for disruption and the launch of Pendulum is an important step in SatoshiPay entering this market. SatoshiPay plan on reinvigorating their efforts with Dtransfer once the Pendulum launch is successfully completed”

So Dtransfer has not been forgotten by the Directors of Satoshipay it’s just that they haven’t issued a further update so Tony has nothing further to tell us. From previous reports we know they expect Dtransfer to have first mover advantage once the Pendulum project is successfully completed and they will have been involved in the testing.

The higher volume of recent days is being maintained today as the volume approaches 2 million at 12.30.

It is also interesting to note that the number of AT trades has increased with a number of rapid bursts of AT trades when you see several within 1 minute . This was a common feature of some of CHAR’s large volumes and rapid rises in the past. I am sure some of you have been following PRD’s Moroccan gas drilling recently. I am hoping we might see some similar movements here soon. They rose 130% during June and that strong rise has continued into July. SOU recently secured financing. Morocco seems to be on the move and hopefully our news will be next.

Agricores comment that the share price is bonkers is spot on. A 53% discount to NAV of which £50 million is in cash is completely ridiculous. Investment trusts like this do tend to trade at fairly large discounts but it’s well overdone here particularly in the light of this comment from the Chairman:

“ Your Company has now successfully exited five portfolio investments, all of which have been at or above the last reported holding value. This should provide investors with comfort that our valuations process is rigorous and corroborates the discipline our Portfolio Manager has exercised when evaluating new investments and their reporting on the portfolio”

He is specifically addressing the discount point. Investors may apply a discount because they are sceptical about the values stated for unlisted investments. The fact that all five disposals have been at or higher than stated values demonstrates the large discount to NAV is unjustifiable as does £50 million cash.

The reason given at the start of the sale process for an asset sale was to focus on the value of the asset. As is usual in gold industry you sell it based on the value of the gold as set out in the BFS. The reason for this approach is that CNR’s sp has never reflected the value of its gold. As now it trades at a massive discount to NAV.

The sp has been drifting down on very low volumes as we await actual news. All this moaning about the share price and possible multiples is pointless. Most shareholders have taken their positions and are now awaiting the outcome of the sale process which has been run as a very tight ship with no leaks regarding price. The current share price is essentially irrelevant but do remember it will correct very quickly when that RNS with details of an offer lands.

From today’s RNS:

“ Neil England, Chairman of Augmentum Fintech plc commented:“Despite challenging markets, the bulk of your Company’s investments have performed well and I am pleased to report that they made a positive contribution to the Company’s NAV per share after performance fee, which increased by 3.7p to 158.9p.Your Company has now successfully exited five portfolio investments, all of which have been at or above the last reported holding value. This should provide investors with comfort that our valuations process is rigorous and corroborates the discipline our Portfolio Manager has exercised when evaluating new investments and their reporting on the portfolio.We maintained our investment discipline over the last year and, with our strong cash reserves (£38.5 million at 31 March 2023, £50.0 million at 30 June 2023) we are well placed both to take advantage of new opportunities and to reinforce our appeal as a supportive investor.Your Board believes that the Company will see a closing of the discount at which its shares trade over time and, with the underlying growth of the portfolio generally being very strong, expects that patient shareholders will be well rewarded.”

Tim Levene, CEO of Augmentum Fintech Management Limited commented:“Our 10 highest value holdings have seen revenue growth at an impressive average of 117% year-on-year and raised over US$300 million in capital during a challenging macroeconomic and fundraising environment. Despite an increased focus from venture investors on companies displaying a clear path to profitability and reducing cash burn, the growth in our portfolio through the cycle reflects the quality of many of our companies and the unabated advance of digital transformation in the financial services sector.We are seeing a material increase in the number of compelling investment opportunities at more pragmatic valuations and expect that to continue into 2024. Our fintech specialism and strong balance sheet position leave us well positioned to take advantage of more favourable investment conditions.”

What big seller? The volume today was 85000 and 21000 on Friday. This share is just drifting lower on very low volumes as we await news. Move along nothing to see here. There are no leaks and you will just have to wait for news.

Mark as an Englishman usually uses £’s. So £150 million is about 4x the current Market Cap Whicker would give a share price close to £1. Mark has been saying CNR is worth at least £1 per share for along time so that ties in. However that is the absolute minimum because as we know the valuations being given to the prospective buyers are much higher than that.

Coal will continue to be a good earner for Thungela for decades as it remains an important source of global energy at 27% as per this extract from an article in The Times last week:

“ "At a global scale, renewables are not yet eating into coal and gas-fired generation and in fact both coal and gas recorded record highs in terms of generation in 2022," Nick Wayth, the institute's chief executive, said. Nuclear power output fell by 4 per cent.

Wayth said the global primary energy mix had shown very little change, despite upheavals in trade flows and record prices for some commodities in the wake of Russia's invasion of Ukraine. Coal remained at 27 per cent of consumption for a sixth consecutive year, oil increased slightly to 32 per cent and gas market share fell slightly amid lower use for heating and transport.”

Up 3.8% to 18p. A very promising start to the week to see 18p again as we await imminent news.