Member Info for jedwood

For the few who look at this discussion, on the 17th Jan it was posted that SABA had taken a 10%+ position (probably when the discount was around -15%). This discount has now narrowed a bit to approx -10%. There is a continuation vote in March this year. Given the size, the liquidity of the underlying holdings, the failure to date of repeated buybacks to control the discounting the failure of GC management to attract growing interest I would have thought SABA will try to force a wind up. I think uranium is a great long term sector but having had a long term holding in GC I have come to the conclusion that compared with many years ago (pre highly liquid ETF's etc) there is no point in paying for the privilege (plus discount) of fairly standard stock picks within the sector. SABA's arrival on bigger IT's is clearly contentious but in this case a wind up would be welcome.

Thanks for posting this. Nothing new and in particular nothing meaningful on the current discount which is too wide given the liquidity of the underlying shares. Not sure how this changes without a formal buyback mechanism (currently informal and not effective). A little IT like this out of the mainstream albeit in a favourable sector heading for a continuation vote next year if discount still double figures? Due to size now not on the main platforms buy lists and for those who are focused there are cheaper more liquid ways of achieving exposure.

Just listened hoping for a different perspective - a bit contradictory. On one hand the term market is a slow burn - low disclosure, plenty of forward buying from long term minded utilities but then the possibility of a rocketing spot price with crazy high prices followed by a crash. The only way is up but without decent price discovery.

Agreed, I have to believe that as the squeeze persists volumes on the spot market will remain low and its signal flakey. The real truth is in the floors ceilings and duration of the term contracts. I am new to this market and trying to get any coherant information about term pricing seems impossible.

Note the 1 to 5 sub on the 30th April with the offer based on 37.74p = end of remaining discount before then?

Very sad day. Do shareholders retain any residual rights over the licences to the mine or do these lapse with the company? No doubt the interested parties will reappear and take the progress we had funded to date. From my experience small cap mining in dodgy countries is a nightmare.

I would be in for 250k, maybe more. No doubt BOD will have to accept simpler/viable and more expensive option but a representation to the effect that there are supportive PI's no bad thing.

New non ex director so maybe funding will be there. http://www.phorm.com/?wpdmdl=189