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A good day today SCLP Up 11.1% at 20p on volume of 4.5 million. The RNS today is very promising and further derisking has occurred which has led to a broker target being increased to 36.7p. I am hoping that today will be the start of a permanent rerate to the previous high of 27p and then on towards the new target of 36.7p as further derisking news is issued.
Every step forward increases the probability of further commercial deals or even a bid.

The sp rose on the 4 million sells (if they were sells) since 3pm to close just 0.5% down on volume of 6.1 million of which 5.2 million are shown as sells. Perhaps an overhang from the warrant conversion is nearly over and JLP can resume its journey north.

It will be interesting to see if Wall Street opening has an impact. Current volume of 4.3 million is the third highest volume since the 6 million in early December when the sp went to 27p. We saw 5.2 million on 25th January when sp was 23p.

I will repost something from a few days ago which I think is frequently overlooked. Helping Dtransfer was the inspiration for Pendulum.
Clearly there is great potential in Pendulum but do not overlook Dtransfer which could be the real jewel in the crown. In the RNS when Tony Fabrizi retook the reins:
“ In early 2020, SatoshiPay announced it was refocussing on B2B cross-border money transfer through blockchain with the launch of DTransfer. This was identified as a major global market opportunity which had scope for disruption through blockchain. Since switching focus, SatoshiPay has made solid progress in building DTransfer by signing up customers and building partnerships.

· While building DTransfer, it became clear that the blockchain infrastructure required to launch Dtransfer as a complete solution still needed refining. This encouraged SatoshiPay's management to seek out ways of providing and supporting this infrastructure, which led to the inception of Pendulum.”
Later in that RNS:
“ SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.”
Dtransfer is up and running and has been closely involved with Pendulum. It is perfectly placed to gain first mover advantage in the DeFi forex marketplace.
A very exciting time for BLU shareholders as Satoshipay has more than 1 string to its bow that should monetise very quickly when Pendulum launches.
SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.
The greatest value for Satoshipay could well be its 100% ownership of Dtransfer. When Meinhard talked of a Unicorn I think he was thinking Dtransfer would be responsible for that being achieved.

This is a very impressive company at the forefront of Engineering Innovation. They are focused on taking the company forward to capitalise on their expertise and first mover advantage. When a problem arises they don’t provide a running commentary on the problems they just get on with finding a solution. The power problems were not of their making but they have dealt with the relevant Governments to secure improved and stable supplies going forward. I am sure the Governments concerned were grateful for that approach rather than highlighting the problems to the world by informing shareholders. I think Leon knows how to operate in Africa and shareholders should trust him to do his job. A running commentary to shareholders is often not helpful to commercial negotiations.

The reaction to yesterdays RNS has been fuelled by traders banging on about lack of trust. The actual issue is very straightforward as expressed by Simon Thompson:
“ Lower production guidance in PGM and copper operations due to power supply issues”
The power supply issues were totally outside JLP’s control and were not forseeable. When the power issues arose it was not known how severe they would be or how long they would last. JLP have taken steps to address this going forward.
This short delay in achieving production targets was completely outside their control and will soon be recovered. It does not affect the longer term excellent prospects that long term investors are here for including the Institutional Investors like Slater who own nearly 10%.
The shares are currently at a bargain price which won’t be available for long. The recent volume will sort out any remaining sellers following the warrant conversion who will have sold to protect their diminished profit.
Leon has already done some interviews yesterday and I believe investors will be reassured by tomorrow’s investor presentation.

Nic Slaters RNS this afternoon relates to selling on the 10th February which is the record date in the RNS. If he continued selling today then we should get another RNS. He still has over 11% so he won’t want to damage the sp further as he has more too lose than anyone.

Back to where we were just after the opening this morning Up 10.9% at 0.305 on volume of 115 million.

Up 10.9% at 0.305.

ZBNI was Up 28.23% on Friday and has a market cap of CAD 13.72 million, which is £8.49 million. So URU’s 75% of ZBNI is valued at £6.36 million which is 2.5x URU’s current market cap of £2.47 million. URU looks due for a rerate to reflect the increasing value of its principal asset.

Clearly there is great potential in Pendulum but do not overlook Dtransfer which could be the real jewel in the crown. In the RNS when Tony Fabrizi retook the reins:
“ In early 2020, SatoshiPay announced it was refocussing on B2B cross-border money transfer through blockchain with the launch of DTransfer. This was identified as a major global market opportunity which had scope for disruption through blockchain. Since switching focus, SatoshiPay has made solid progress in building DTransfer by signing up customers and building partnerships.

· While building DTransfer, it became clear that the blockchain infrastructure required to launch Dtransfer as a complete solution still needed refining. This encouraged SatoshiPay's management to seek out ways of providing and supporting this infrastructure, which led to the inception of Pendulum.”
Later in that RNS:
“ SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.”
Dtransfer is up and running and has been closely involved with Pendulum. It is perfectly placed to gain first mover advantage in the DeFi forex marketplace.
A very exciting time for BLU shareholders as Satoshipay has more than 1 string to its bow that should monetise very quickly when Pendulum launches.
SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.

Off we go again Up 7.3% at 0.295 as we head towards 0.3 for the 3rd time today having breached it this morning.

It is indeed one of the highest volume days in the last six months. Currently at 258 million we are past the 218 million volume on 16th December 2022 and then it’s back to 7th April 2022 for 307 million volume. Still plenty of time to set a 12 month volume high and end the day above 0.3. We have been Up 10% earlier before pulling back to yesterdays close.
Now starting to move Up again.

Currently Up 10.9% at 0.3 05 on volume of 150 million.

Buys flooding in such that Buy volume now exceeds sell volume as the volume reaches 63 million. The fall of 5.5% has now reduced to 2.7%.

As volume passes 36 million we have done 50% of yesterday’s volume in the first 30 minutes of trading. Once the inevitable profit taking after yesterday’s 40% rise has finished this should start to rise again prior to next week’s developments with Pendulum. This went above 0.5 on expected news 12 months ago and let’s see if this is repeated. The Directors don’t start to make any money on their warrant until the sp is above 0.35 and 0.45 so they are expecting further gains.

Volume of 28 million in the first 10 minutes. Looks like it’s going to be a big day.

Surging higher into the close Up 39.2%

Up 35.4% on volume of 66 million. 0.27 has been paid.

Flying close to the top of the Leaderboard Up 32.9%.