Member Info for lootgaloot

It may be due to this recent tip:

https://ii.co.uk/analysis-commentary/five-aim-growth-shares-your-isa-2026-ii538666

I don't follow this share so not sure what trading volumes are normal.

AIREA looks good on fundamentals but I'm not sure how recession proof it is. I'll keep it on my watchlist and it may become more interesting to me in future.

Thanks MetalTrade. It does indeed raise more questions than answers but I for one would be more than happy to see Leon accept defeat and buy in an off-the-shelf solution. The Jubilee way is to avoid transparency and sow mistrust rather than openly admit you are humble enough to change direction when needed. Most shareholders prefer honesty over the longer term although I accept we have a few weirdos on this forum who would much rather be lied to.

I'm going to get in first and say that management are doing a very good job. The problem with this forum is that some posters are expecting near daily updates on what John Shaw had for breakfast. The reality is in the numbers, take a look at revenue growth over the past few years. The only blip was when they took the decision to jettison a low margin customer two years ago. Margins now look OK (not great but respectable) and recently reported revenue continues the impressive long term growth.

Have the company overpromised on occasion? Yes. Superabsorbent tech may take several more years of R&D (if ever), bio sustainable acrylate monomers? Wow, what a breakthrough that would be but we are surely a decade away from the economics making sense let alone getting the tech right. Paint/coatings is for me the wrong focus but hey, who knows. But I've got no complaints about the long term direction and I think the management are humble enough to switch focus as needed.

My one caveat as I've mentioned in previous posts is that a 10% shareholder (Octopus) is looking to divest. This is an internal issue with Octopus and should not be seen as a reflection on ITX imo.

You really are clueless gotreal, it's embarrassing.

"The other two pillars I am not convinced on. Maybe the plan will pivot more to Pillar 2."

Probably the most sensible comment I've read on this board for a long time. Now, can somebody tell Leon.

I think its commonly accepted now that the "unique ability to process waste that others can't" was a load of BS. If you're still holding on to that story I'm afraid you're going to be disappointed. More worryingly, Roan doesn't even seem capable of processing higher grade ore and to add insult we are even selling off portions of LAP to an unknown processor who is apparently well able to process. All of the bad news coming from the Zambia adventure seems to be in one way or another due to Roan. It's infuriating as the tech clearly exists to process LWP but Leon persists with flogging a dead horse. Sable on the other hand seems to be mostly sitting idle, waiting for feedstock that Roan can't supply.

So my answer to your question is; yes, sourcing feedstock from Munkoyo and potentially Project G is essentially a pivot to becoming a traditional mining operation. That's probably not such a bad thing especially as I have more trust in Galileo management than JLP and Galileo are very much in the driving seat for mining operations. It would be an absolute dream if JLP ditched Roan but Leon's pride wont allow that and so the bad news will continue. I'd much prefer that JLP doubled down on mined ore feedstock to sable and ultimately develop a hub and spoke strategy to process further ore from Galileo.

I thought my 80p prediction was a bit of a stretch as it leaves ITX with a market cap (£10.8m) more or less equal to recently reported revenue (£10.5m). My feeling is that something has to go very wrong for a company with a gross margin around 35% to be valued at a discount to annual revenue. So 80p was a very low ball (tongue in cheek) valuation by me. Bare in mind that even at 80p the market is ignoring ITX history of high revenue growth. But I'll stick to my 80p prediction on the basis of Octopus having perhaps a one year window to offload 10% of the company equity into a market that currently demonstrates little appetite for green sustainable investments (that could change post Trump). I suggest 70p could only happen if Octopus have a much shorter exit strategy. Say, 6 months.

My FOMO purchase at 3.44p on the day of the drill results isn't looking so clever now. Kalan got it spot on again when he said to wait for the new tax year. He/she was also 100% in cash when the Iran war broke out. I suspect our very own Kalan is actually a certain Mr Trump.

Its two years to the day since ITX jettisoned 50% of its revenue from the low margin customer. The share price crashed from 260p to about 150p and has never recovered since. in fact, a series of macroeconomic events have once again dragged the price to near all-time post consolidation lows. At the time, the loss of the low margin customer raised several questions in my mind as to the viability of the business model. However, the lost revenue has been recovered and the company has more than addressed the concerns I had at the time.

Today, the market values ITX at around annual sales. Fair value for a mature steady business but ITX continues to demonstrate high growth and new markets. Anyone buying at today's price must surely see a profit three years from now? I'm not quite ready to invest yet. I'll wait for Octopus to exit. As with the Woodford exit, I expect them to sell their final 20-25% aggressively. I'll wait for 80p entry price but may accumulate at anything lower than 90p.

As NelsontheDog suggests, inept management has tempered market reaction. Maybe management have done a favour for anyone entering at today's share price? Obviously the Iran situation isn't helping as well. However, its important to note that these results are only onsite XRF readings and I expect the market is waiting for lab assay confirmation. This may be a slow burner leading up to mineral resource estimate. Any resource that avoids Roan will add value long term.

I'll hold on to your daughter's shares for now Kalan but will be quick to hand them back in the new tax year if our esteemed management get back to their usual tricks.

JLP seem to be on to something here, more by luck than judgment. Anyway, I'm back in 750,000 shares bought at 3.44p.

The competent person will have worked closely with JLP for the past several weeks. There will have been near daily meetings. The competent person will have signed off several days prior to release with the final few days mostly admin. It is simply not believable that sign off is the very last act just before release. Given the history of this company, I small a rat. How many times do people on this board have to re-learn the lesson that this management treats shareholders with utter contempt and that this is just another example. It looks very much like the competent person has refused to sign off.

Sounds like the competent person is not convinced.

"Have you been looking at JLP five year chart nevertogiveup or is sub 2p just gut feeling"

When LC got options at 1p I said at the time that it would never have passed unless the board considered a price in the region of 1p to be about fair. If those in the know were predicting 1p share price then that's where its heading.

Only drilled 27 of the 46 planned holes. That sounds like they abandoned it. Honestly the results were terrible. Absolutely no REE found. The only significant Tungsten assays came from a 1 meter intersect. No way is that even close to commercial. I honestly can't see how anyone could justify further drilling. Its a duster, we need to accept it and move on. The recent Pomme prospect sounds like a more conventional REE play although not heavies only light but could still be a company maker if they can prove continuous grades. But lets face it we're talking years not months.

Second read and this is terrible. Rare earths are non-existent. Not sure how they have got this so wrong from the surface rock chips. Trying to sell the Tungsten as a success. 4m intercept? Come on.

Quick read but this is not good. No Rare Earths some Tungsten intercepts but not great. I'll continue reading but very disappointing from first scan.

Elsol, I'm curious to know whether an Octopus pants has eight legs?

I don't know much about the companies you mentioned but a quick look at their share price chart tells a story.

Both REE and HREE traded flat within 1p to 2p range for two whole years (Feb 24 to Feb 26) before re-rating to 4p within the last few weeks.

COBRA traded flat in a similar range for almost a decade before re-rating to 4.7p over the last 12 months.

Its worth remembering that NFM only entered the Rare Earth space a little over a year ago. Other than chipping a few surface rocks we've barely begun. I prefer to view NFM as a little know entrant on the cusp of its own X3 re-rate very soon when Harts Range drill results are announced 'imminently'.

I think you need to chill and wait for those results. If we are still at 1p in twelve months time while the others race away then it may be time to worry. Personally I like being under the radar as it allows me to pick up cheap shares.

And by the way, there is a very active market in NFM with several million shares traded daily on ASX. Its only a matter of time before UK/US investors wake up to the opportunity.