Member Info for joxer22

Hope springs eternal!

The trading volumes are negligible so the spreads are wide. Also, it's likely that many of the tiny individual trades are limit orders which adds to the distortion. When the trade volumes spike into the millions of shares we'll see accurate pricing.

The share trading is negligible at present so there's currently no sign of any upcoming fund raise as this would be clearly signaled in the market. However, it is a bit puzzling that everything is so quiet - I would have expected some reflection of the testing progress by this stage.

It's actually quite difficult to buy any significant volume near the stated bid price. I bought on Monday but had to increase the bid a few times before the order filled. The daily volumes are relatively low but the market makers are certainly not inclined to drop the offer price for buyers.

Cantor see about 20% upside - their latest target SP for BIRG is €11.70

I bought into Fastnet in the early days (2012) and held all the way until Amryt got sold to Chiesi. Over the years there were multiple dilutions in both Fastnet and Amryt. By the time Amryt got sold to Chiesi my original shareholding had been diluted by a total of 240:1. In hindsight I was more interested in the Fastnet Morocco opportunity so I should probably have bailed on the initial reverse takeover. Needless to say I'm hoping my investment in Predator will have a much better outcome!

Unfortunately you're not far off the mark, Ireland has indeed become the woke capital of Europe. Only a certain narrative is tolerated and the upcoming so-called hate speech legislation will just further this agenda.

The problem is that opposition to all forms of fossil fuel exploration is now endemic in Ireland both politically and in society in general. The costs and risks of not having access to local sources of oil/gas are simply dismissed as scare mongering. Dependence on imports is simply seen as a means of fast tracking the decarbonizing agenda. The politicos have signed up to 2030 carbon targets that haven't a hope of being achieved even as things currently stand and the associated penalties are huge. In this environment it's hard to see any of the major political parties backing exploration companies with Irish interests.

To put yesterdays drop in context the euro banks index (EXX1) was down over 4% so the drop in BIRG does not indicate any specific issues. The smaller banks tend to over react to moves in the euro index on both the upside and downside. I topped up yesterday as I don't think anything has fundamentally changed wrt BIRG. It's interesting that AIB did not drop as much as BIRG but this was probably due to stock specific buying based on yesterdays results announcements (the AIB volume yesterday was over 16M shares)

Vague comments by the minister of finance about revisions/recalibrations of the bank levy will likely add some uncertainty to the banks shares until more specific clarification is provided

There has been no unusual trading over the last number of weeks that would signal either significant positive or negative developments. Personally I think this may just indicate some minor delays starting the testing but I can't see anything to worry about.

At the moment the share price is just drifting on low trading volumes. I would expect that any significant developments in the sand jet program will likely be reflected in the trading volumes and share price long before any official announcements.

Nice steady progress here. Maybe the ongoing share buybacks are starting to have an effect. Also likely that there's a good vibe around the upcoming interims.

It's interesting to note that the ECB is very keen on cross border banking consolidation:

https://www.bankingsupervision.europa.eu/press/interviews/date/2024/html/ssm.in240605_1~5851fe586f.en.html

In relative terms the Irish banks are minor players in the overall European banking sector but they would probably be attractive as bolt on acquisitions for some of the euro area mega banks.

I figure a penny or two either way on low volume is just noise - big trading volumes are the key.

It's hard to read anything into the price when the trading volume is so low. Just the MMs balancing out small trades.

If an RNS hits then we might see some real price action!

Bank of Ireland seem to have a fundamental problem with their banking 365 online service. The service seems to go down on almost a weekly basis. It's down again today so there are obviously some major IT issues they need to address.

The downside is that it looks like he could still retain the ministerial role for the environment.

Eamon Ryan is stepping down as leader of the Green party in Ireland

French bank stocks are driving the EXX1 index lower today, looks like the Irish bank stocks are just getting caught up in the index trading algorithms. This may drag on for a while and provide some good buying opportunities here.