focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Quick detour, brb Monday / Tuesday, hold my beer.
Saw another rainbow, Don’t go anywhere without me ;)
Just like magic, NT any amount at 0.50, Bid drops, can sell 600k one lump .475.
The joy of illiquid stocks and why you need to trade the highs in to volume on the days it is available , in order to reload when the noise moves on and sells at bid.
Halifax, for this trade.
I checked it for a couple k down to £50, it wouldn’t surprise me if it was just Halifax being useless, it often is which can be off putting
Not surprised it was a quiet day, mm taking a day off from creating a market, it was NT all day,
when supply here dries up it will move up, will only take £10-15k of shares in hands that will hold for £1m mcap and the free float at <0.7p lows is gone, then it ranges 0.7-1p, we had a taste of how fast it moves last week, just hold it will move eventually, im tapped out or id buy them. ;)
Also bare in mind everything the PLC has used it’s cash flow on and paid VAT on will be claimed back to the PLC (£700k of legal fees, strategic review, plus everything prior could potentially have £130k of VAT to claim back against, add up everything else and there could be the mcap due in VAT refunds)
Next Full year results due July, for period ending 31/3/2023.
At 31/3/2023 the plc had just sold the subsidiary so whatever it shows is remaining as debt / assets will be a good guide to where we stand.
unfortunately we operate in a stock market where it is acceptable for companies to give financial information 3 -6 months after the fact so have to use our best judgment and crystal balls until told otherwise.
Dish added to the <£1m mcap list today, and that is terrible, CLN at 50% of whatever deal they do if they do one, bill for directors pay in lue building up, terrible situation and still high mcap.
Well you never know where the money went to or reason to sell, could have been a stop loss, or could have gone in to something that doubled, so can’t say idiotic, it’s not without risks here.
But I was looking to see what else is around sub £1m mcap and I think ITS is the best placed.
ITS - shell £500k cash £250k mcap got till September is what it is.
CTEA - £400k mcap, CLN £300k debt or so no money insolvent.
TRAF - £400k mcap, kinda a shell but has existing properties, £1.6m asset, £5m liability, little cash.
KAT - £700k mc always needs to raise cash never really goes anywhere.
MDZ - plc is there to fund directors salaries to the subsidiary, an actual business but never makes money, revenues always seem to match at most the directors salaries and admin fees.
MNRG - never really achieved anything, tried for acquisitions not got anywhere to date
TIR - £1m mcap but has £500k in listed plc investments
MAC - an odd one but has no money to excise anything. Potential
SCGL- imports shampoo or something, £13k cash, >£1m debt.
INSP - cash cow for management via milking placings in to every rally, no rev tradable always spikes off insiders buying before / selling after news (followed by placing)
NSF and Amgo - both heading for delisting, consumer loans / guarantor loan saga, need to raise tons of capital to repay claimants or just shut shop, current equity worthless.
That is the scrapings of the bottom of the barrel in the market.
So ITS should atleast be cash in bank, 1p / share until told otherwise or something comes up.
You know it’s quiet when you notice the same trade amounts, ie 170,647 just sold was a buy Friday morning, and lost ~20%, it will bounce, don’t need to take hits like that at £250k mcap / £500k cash
Few nice buys / buyers buying back, it’s like it’s the same 5% of stock changing hands, to and fro, 1% 2%, can only be so many.
Still in, but yea I should have waited for <50 :)
0.45 = £236k mcap
0.50 = £262k mcap
0.60 = £315k mcap
Nevermind, just piddly trades moving outside the bid again in between a larger trade.
Saw it jump and thought ooo are we were going to get a bit of “wouldn’t want to be out over the weekend” madness lol
We had our excitement for the week yesterday, GL next week. Have a nice weekend all.
800k at .58?
Good luck, ITS got till September to make a move.
Yea I see that now, a 1m and 400k trade (sell) went through so I’m assuming there was a buyer, or trades wouldn’t have been filled
1% here, 2% there…
We will have to wait and see Next week by look of I guess.
Still waiting for that Cheverton TR1 RNS
Think it’s nearly filled as NT sell for larger size in one trade.
There’s an order filling for ~1m or so I think
I honestly don’t think they do, otherwise the strat review costs would have come from that and not the proceeds.
If strat review was paid for with cash within company it would have said something like £1m net proceeds, and not £500k.
The £900k was prob held in the subsidiary and allocated or used against subsidiary some basic costs or allocated to be repaid to credit facility.
My thoughts are because that £900k was still in the company BAAJ paid £0 for it effectively, with Adam paying £300k for his 25% to round it up to £1.2m
happy to be proved wrong by the company releasing an RNS, but either way I based my trade on a company with £250k cash, which is less than they should actually currently have.
ITS just a trade.
It was a good trade, I got ~10% more than I had before and “if” I was slightly quicker I’d have had 25% more stock for the next round of the rally