Wk 37 rap.11 Sep 2020 19:35
Cpo since end H1(wk 27) is up c.18% averaging c.$729 per wk. This wk cpo closed at $764 flat on the week and runs at $676 ytd.
REA (45) ahead of nos due next wk was down 2 on the week with no spec buying seen today but a healthy c.378,103 on the week. I expect investors bemused by the sp performance in H2 fear to test the water fearing something nasty therein' lurks . Other Palmers were flat to lower, Anglo up 2, Mpe fell 30, Dkl u/c & Epa off 0.50. KLPI down 71 on the wk and 741 (9.6%) lower ytd.
I initially thought the 200,000 share buy must have been a Director but then realised they are in a 'closed' period of 30 days prior to the release of interims and cannot deal.
Anyways, the 200,000 buy (£91,500,00) investment is a vote of confidence following buys of 20,584, 21,276, 14649, 14861, 20,500, 12,767 & 20,505 all this week around 45-48. Mostly on the buy side, which usually would be a positive for sp gains but that's another story.
Whoever is writing the report will be burning the mid'night oil trying to put a gloss onto the nos while unable to explain the catastrophic crash in the company value. That will not be addressed and I agree, what goes on the wheel of fortune is not part of the boards responsibility. The two functions are twinned yet separate, nevertheless one impacts t'other as far as pis are concerned who watch the scoreboard but rarely the field.
The bod need to tell us the field is a veritable Garden of Eden and we will be reaping the rewards in the years to come.
We will excuse the most dire results if we feel the bod are acting in our best interests and one cannot doubt the Robinows commitment. They have plenty of coin invested so we're on the same page if in my case its just a footnote.
Unfortunately the mrkt takes a different view, saying the Co is more or less worthless. We will soon know.
Your choice, do you think the mrkt have got this so utterly wrong? I think they have but I cannot figure out why as normally the mrkt quickly reprices mis'priced stocks, yet stubbornly refuses to do so here and that is a real worry.
We need assurance and hopefully the results will allay any doubts on that score & that the company is not far away from being self financing and will leave years of losses behind for good. We will be truly thankful for that.
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