Member Info for JohnLewis79

Did you know the BOE the font of all financial and economic wisdom paid a PR firm £200,000 to set out the banks "mission statement" which may or may not include reducing UK inflation from 9%.

FFS..... I could've done that in 10 mins tops and for £199,995) and a couple of pints! Thanks to (evilknevil).

Once again stuck in a no hoper stock, all of my own choosing i might add despite all the nonsense talk of the stock going to 100, i never believed that was on the cards for one second and said so... so watched and waited for PAT go sub 30, then 20 thinking that was a safe entry point given the the available puffery evidence.

Some wait, some safety, some entry point. And so it proved. Not before I had my rose tinted spectacles on the shares were under 15 and i was scrambling to throw good money after bad thinking a bounce was overdue as results were uniformly good. Not being able to read between the RNS lines became a severe handicap.

Needless to say the bounce never happened, the shares cont South at a fair old clip to sub10, suckering me into wasting more money chasing a lower avc and i bloody know how fatal that can be....

I'm not sure when I woke up to my precarious position (obviously way too late) but I cling to hopes that the juju men will dance the dance of necromamcers and lift PAT to...well your and my break even or thereabouts. It will take a miracle but I hold in hopes!

Didn't we raise £1•06m cash to keep us ticking over through the rest of this year? I seem to remember we did. Granted we will be raising more money in 2023, its in the nature of Aim start ups to bleed investors without giving anything back and I'm sure as hell not pinning my hopes on a JV, Bhukia or ABC anytime soon.

No relief from the US, called 600 lower atm. I shan't be topping up any more in PAT as I'm fed up boosting MMs Pension pots! I might be tempted at 3 let's see....

Shares in Asia got off to a rocky start after falls in the US. Across Asia falls of 2•5% were noted led by the Nikkei 225 off over 3% in early trading as Softbank slumped 6%. Tencent and Alibaba were 6% lower taking the Hang Seng down 612 (2•8%) at mid'day.

A slew of economic nos are out this week inc Chinese industrial production nos and int rates in the US. Asia Pacific Exchanges follow the trend Jakarta, KL and Singapore all down 2•5+%. Sydney is closed for a local holiday.

Oil is trading at $120 and Gold is off $10 to $1866. London is called 42 down and the Dow off 312.
Morning all.

If you look at the DJI one year chart the index keeps hitting lower lows. Over 52 wks the Dow has dropped from c.37k high to c.31k low.

Yesterday the Dow slumped 880 (fallers outpacing risers by 9:1) due to inflation hitting a 40 year high (8•6%) which doesn't bode well for Mondays open though I expect a bounce of sorts.

The Dow has fallen on (10) of the last (11) occasions making the chances of a recession a real possibility due in the main to consumer spending which accounts for c.70% of the economy being eroded, dealing a huge blow to GDP.

The Fed realises its way behind the curve on inflation and will surely act more aggressively by raising rates by at least 50 basis if not 75 next week. While technically mrkts haven't hit 'Bear' territory tell that to Main St
consumers.

A recent survey of 60 CEOs think a recession will hit the US in (Q2) 2023 and 70% polled expect the Dow to go below 30,000.

PAT
Wks
1-23
---------
Trades 514
T/vol 11•3m
Buy 3•7m
Sell 7•6m
Sell 67%
------------

Ytd
Cora -24%
Gold -30%
Hum -12%
Orr -32%
PAT -47%
RR -24%

Gold $1875 (+2%)

DJ -880 (31,393)
SP -117 (3901)
NS -437 (11,833)
R2 -30 (1190)
WTI $120
10ytb 3•163%

MSCI(W) -80 (2642)
Gold Bugs +12 (262)

Ftse -159 (7318)
All -86 (4046)
Aim -14 (951)

Gold $1875
Oil $122
Palm $1585
Copper $4•278
Silver $21•925

"Im resigned to a dilutive placing" Well, let's pray we don't need one!

Be interesting to see if the appointment of Novum Sec as joint broker to PAT with Allenby Cap makes any difference. Allenby will retain their NOMAD status.

So far it's been a slow start, so drumming up interest should be a priority particularly as they received £267,000 in fees in relation to their appointment as Joint Broker.

It should be noted that PAT has fallen c.47% this year on c.11m shares traded to date. PAT has 119m outstanding so a total of c.11m traded of which c.35% have been buys has caused this massive drop.

Does that make sense to you?
It sure don't to me. For sure we know sellers cause a disproportionate drop in share prices, always have, always will, but 47% looks a tad harsh even among illiquid Aim stocks. For PAT to my certain knowledge has not issued a profit warning, warned of drill disruptions or equipment breakdowns or strikes at any of the mines in fact quite the opposite.

Back in the day if a stock price fell c.10% on the session the Co would be required to notify the mrkt as to why. These days I hardly ever see notifications. Perhaps the rules have changed or been relaxed for no doubt the RNS bodies would be flooded with
declarations of bad news.

DJ -638 (32,273)
SP -98 (4018)
NS -345 (12,270)
R2 -24 (1220)
WTI $121
10ytb 3•055%

Latest: Oil $122. Gold $1847. Vix 26. Copper $4•325. Palm $1650. Silver $21•665. $1•250. €1•175. FF-70. DF +8.
Morning all.

Asia tracked US mrkts lower as the USD held its gains after the ECB said it would raise rates several times this year by (•25) basis as inflation in the Eurozone hit 8•1%. The bank also reported they will end the long running Bond buying stimulus scheme.

Japan's Nikkei fell 1•2% awaiting crucial US inflation data out today. The mrkt was also weighed down by falls across the region as China reported a flare up in covid related infections. The Govt have ordered the shutting down of multiple entertainment venues and ordered districts in Beijing and Shanghai to close. Residents face a new round of mass testing.

Against the trend Shanghai is up 20 at mid session the only mrkt in the black on the back of Producer price inflation easing to its lowest level in a year.

A 242,130 sell at 6.20p went through late on confirming the downtrodden share price will likely be at historic lows very shortly. Unfortunately the management are in no position to reverse the trend by issuing a statement to the effect..."we know no reason for" as that will look like panic stations and doing the mrkts bidding.

They must hold their nerve as most of us still standing think the slide in the sp is not warranted, by the data reported so far. The next set of results should see the shares at a sensible level assuming the mrkts return to some sense of rationality.

To those who find reading the late AGM (RNS)...LIKE ME is hard work, go to "investigate" where the figures are presented across the page and not bloody vertically!

Indeed mickey1122 and I'd guess MB is not exactly tap dancing to work every morning. When the mrkt continually ignores good news and they always have a ready made excuse for all eventualities, investors become twitchy and start acting irrationally.

MB cannot be blamed for the mrkts intransigence he's between a rock and a hard place and to date he has kept investors regularly updated if not upping his holding. Unfortunately in the WA junior mining sector no'ones much bothered these days however good the results may be.

If you check out the sp's of our WA competitors you'll find every one well down ytd with PAT showing the bigest loss at -42% & HUM, the best is down 12% the average being 28% down. Gold ain't helping flat'lining to date but too early for us to be a contender.
Not exactly enticing for prospective investors is it? Our consolation is we have a lot of results to come and some decent prospects and if the mrkt turns in our favour this year we might see a decent rerate but I'm not betting on it.

One thing for sure in my experience it will come when we least expect. So hold tight!

Director buying is usually a good sign but tbf M.Higgins has bght recently though others seem a bit "pencil shy"
if you get my meaning?

I'm fed up with averaging down a losing position and have moved on to more profitable climes (hopefully) though I retain my 46% down stake as the current sp represents the price of a couple of diggers, a feeder, conveyor and odds and ends.... did I mention Gold?

Finals due late June so as a reminder last year nos as below.

PT profits (£1•6m)
(£61•5m) sales
basic eps of 7•2p.

Look for a better result this year notwithstanding visits to petrol stations have likely taken a hit due to outrageous pump prices. Defence should do the business.

MMs jiggery pokery imo....

Quiet yes, but going down again, grrrr!

If your buying REA for the longer term I wouldn't worry too much about the spread, more whether REA can grow its return on equity (rather than earnings per share) for a better reflection of value. In simple terms has REA created a $ of value for every $ retained?

Better still if equity returns are free of excessive leverage one can track how well management are using the capital employed in the business. Debt levels differ business to business as do cash flows and ideally you should be wary of companies that earn good returns by using lots of debt.

REAs debt level is high as a % of holders funds the question is it manageable and importantly are they converting sales into profits?
You can do the maths on operating margins, (they are good) ROE etc... and compare them to MPE & Anglo.