Member Info for jaskk

Yesterdays news. They are finally dealing with the real issues rather than trying to get around the regulations for a quick win. This is the way forward.

It would be interesting to know who is lending out their shares so this can be shorted.

I agree, something very odd when the gold price is near all time highs and yet this is near all time lows. Either this is the bargain of the century or this lot are the worst overpaid stock pickers ever. Answers on a postcard !!

You know about business, yet have the time to post here and kindly warn everyone lol

Finally a good RNS, managing expectations rather than making promises for things out of the companies control. The direction of travel is in the right direction.

Something very odd going on, as still can't buy, but can sell.

Haven't been able to buy since Friday last week ( regardless of amount ), but interestingly can sell. This is the bottom as the new investor is getting a discount with a minimum floor price of 0.44 pence, which it will be at once the discount is taken into account( 25% from memory ) with this price.

I totally agree with these being massively undervalued. These were double ( or more ) this price at a much lower gold price point.

Not been able to add to my holding for days now, but can easily sell. Disgraceful, can only assume a large purchase order has been agreed ( or short closed ) and the MMs don't want to lose money.

Key player in driving down the share price for the benefit of the now 53% major shareholder. Absolutely corrupt.

Are you saying that shareholders are protected under the same regulations and restrictions that now wouldn't conveniently apply to someone owning more that 30% of the stock ? Seems a bit strange ? lol

Whilst it’s a relief for a deal to be done, it does concern me having such a large single shareholder. What is to stop them lending their shares to a hedge fund and driving down the price, so they can buy the bank on the cheap. No doubt the directors would be well compensated. It’s for that reason I bailed on the spike and will watch on the sidelines.

One question no one is asking, is where are the two shorting companies getting the share from in order to short. My suspicion is Metro's biggest shareholder who did a placing at a much higher price who is now keen to drive the price as low as possible in order to average down with another placing at a very low price. Time will tell, but I suspect if a placing is to be done, it has already been agreed and they just need to agree the price, hence the shorting. Corrupt yes. Time will tell.

They just grew too big too quick,selling part of mortgage book to a bank with an internal valuation model will be a win win for both and shore up confidence. Metro before this was heading in the right direction and making money, reducing the mortgage book and diversifying more will be a good thing.

Good for you, but it’s nothing more than a gamble, certainly not an investment. I bailed at a loss yesterday, thankfully I did and it was only due to luck.

I’m afraid thats more wishful thinking, but anything is possible, but certainly not a reason to be a long term investor at the moment.

At least that explains share price fall -

https://www.reuters.com/business/finance/metro-bank-explores-raising-much-600-million-pounds-sources-2023-10-04/

They had problems raising when BOE base rates were circa 0.5 %, when they offered bonds with a 7.5% coupon. This I’m afraid is not good news.

I’m not sure what’s going on, but gut feel is the market believes they need to raise money and they struggled with this when interest rates were much lower. Couple that with high loan to value on their mortgage book with a falling housing market and rising costs. It does all look a bit worrying.

Mortgage rates being cut is a good thing for stability, and a highly leveraged newcomer to the banking industry will not want a housing market crash( a correction will be fine ). The UK economy is doing fine and interest rates are much higher than the 0.1 percent of a few years ago. That all points to either a recovery in the share price or a buy out from a competitor who already has an internal model for capital relief.

So there we have it. This will do nothing to allay concerns and will add to them. I always wondered why Southern Gold sold the mines if they were such a great opportunity and now they are selling at less than the price they got the shares at ( which I never thought would happen ) More big sells yesterday at 1.2p. I hope for existing shareholders I am wrong, but this is now not investible and nothing more than a gamble. Southern Gold will have insider knowledge inSouth Korea. They may want even to trash the share price in order to buy back the asset on the cheap. Very murky.