Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Yes looks like we are heading below £5 on the AIM tomorrow. We've seen as low as US$ 12.20 over on Nasdaq today and we are not finished yet. This is murdering my dreams of a pleasant dreamy no worries retirement. Coupled with my absolute pummelling on MKA (a rare earth miner) I'm under water and struggling for breath. BUT won't sell either as the fundamentals belie the stock price. Good luck to all LTH's like me. Are we all mad ?
I’ve been waiting for a week now to see the starting signal for the next rinse and repeat and now we see it will start again today. In my last posting in which the pre market Nasdaq was up around US$ 16.72 subsequent trading days brought it back down to $13.10 yesterday. And here we go again with pre market up to $14.06. They will run with this for a day or two, suck in buyers and then drive it back down again. Christ knows how much profit they’ve made with this shorting exercise but one thing is clear. There is no institutional or individual shareholders able to do anything about it.
Just added another 43000 at 22.8p so my holding now around 650000 shares. Massively under water but have every confidence going forward despite current frustrations with absence of RNS re the financing of the project. Still holding the view that the concentrator plant will probably be acquired by a large mining conglomerate and Mkango focus on the refining plant in Poland and their holding in the recovery of used magnets.
How did this happen ? At 11.46.10 the shorts had taken price down to $14.90. Then at 11.46.11 suddenly they sell 35,794/shares at $15.3092 then at 11.51 the price back down to $14.96 and the short continues. What chance do we shareholders have against this ..
To Rusty Bucket. As I understand any ADS shares on Nasdaq that are “borrowed” for shorting, can only be sold again back to Nasdaq market. So I fail to understand how these shorters can sell back on AIM to Tremor under the buyback plan. As I understand it the buyback is limited to AIM shares and based on the average 5 trading days prior to purchase, and limited to 5% above the market price.
Nevertheless I agree wholeheartedly that a massive and concerted short has been directed at Tremor ever since the dual listing. It has been a classic case of substantial algorithm trades of 100 shares to drive price down, then a similar larger number of tiny buy trades of less than 10 shares to bid the price back up, at which point they sell, reap the profits and rinse and repeat for the next time. Result is that we are stuck in the $ 15’s up to $16 at which point the rinse and repeat starts again.
And no amount of successive quarter results has yet shown this share to be capable of getting back to the $19 listing price let alone anywhere near the mid 20’s.
In short, other than the management team, this listing has been nothing short of a disaster for all previous AIM stock holders. We were doing nicely in the £7 to £8 range until that listing.
Well the last two days were certainly a classic case of "rinse and repeat". Having seen expectations to break $17 the shorters decided "hey we've let you have a bit of fun and hope"so within minutes of the market open when the pre-market had been $ 16.72, they brought it rapidly back to earth with a crash to around $ 15.84 and then proceeded over the trading session and yesterday to bring it all the way down to $15.21..Now more likely to see it once again breach $15 than get away to recent highs. Coincidentally these two trading days were the ones without any share buyback, almost as if they knew this was about to happen. Collusion ?
Here’s hoping we can breach the US $ 17 over on Nasdaq. Hard to fathom when even the lowest analyst target was $26.
But that’s where we are. When it gets back into the mid £7’s I will be making real money again.
Just when we all thought we'd escaped the grip of the shorters look at today's trading over on Nasdaq. They took the pre-market up to a high of $ 16.80, sucked in the buyers, and then started to pull it back to $ 15.47 as I type which in turn has brought the AIM price below £6. What will it take to shake these guys off our tail ??
Share Nicely now - Yes I see that the latest short interest on 15th March was down to 30,485 compared to 15th Feb when it was 452,617. I also note the largest institutional investor in the Nasdaq listing is Ophir Asset management who have increased their share holding by 113% to a total of 2,480,706 shares out of a total of 7,401,676 total shares on the Nasdaq listing (as at 31st December 2021). I wonder whether it was this investor who had been the principal shorter in the acquisition of so many shares but the question is from whom did they borrow. ?
And to end on a positive note for the weekend, the US listing price actually recovered in the last hour of trading to finish on US$ 15.88 having drifted as low as US$ 15.20. All bodes well for a recovery over £ 6 for the Monday start on AIM.
Having closely tracked the Nasdaq pricing pre-market for months, I think today's rise is a classic case of rinse and repeat. That is to say the shorters have had this share by the proverbial for months now. Every single time it breaches US$ 15 on the Nasdaq listing (as is the case today) they bake in the gains from the shorting down to less than US$ 13 in the pre-market trades and then rinse and repeat to bring the price down during the trading session to somewhere around where it finished the previous day or often below. Today's pre-market hit a high of US$ 15.72 but is slowly drifting down to US$ 15.57 as I type. Given yesterday's close of US$ 14.87 I am expecting it to trace back down below US$ 15 as the trading day progresses. Result in UK is that we will not hold the 610p high of AIM trading. Ive been breathlessly awaiting a hold of 600p for months now but am beginning to doubt it will ever occur in the next 6 months whatever the results show.
In the Finncap upgrade note published today and in a nod to the gdog critique about directors share based awards I note the following comment:-
"At adjusted EPS of $0.71 for FY22,(2% increase over FY21) and introduce FY23 estimate of $0.84 adjusted EPS. We note that in our reported EPS we include $43 million in share based payment expenses in FY21 and $50 million in FY22 and that these expenses fall to $23 million in our FY23 forecast"
Which brings to light just how much additional EBITDA could have been presented in our results had the greedy bastard management not sucked the life out of the company profits. Also why do Finncap imagine these same greedy bloodsuckers would suddenly drop their share awards in FY23 ? Who knows what takeovers might occur in the coming years either by Tremor being acquired or it acquiring others. Either way it seems like we are stuck with share based awards of $50 million for this year whatever happens to the profit.
Meantime Finncap still sticking to their 1700p target price. We'll be lucky to see a return to 600p this year let alone anywhere close to their fantasy target.
Trust our luck for the results announcement to fall on the same day as the Ukraine invasion. With the markets totally in free fall who’s taking any notice of individual shares ? All in all the results were very encouraging and the $75 million share buy back should put a floor under the share price. Not seen any forward guidance in the results announcement but presumably this will be in the earnings call later today. So far we’ve squeezed out a gain of 34p today but am expecting the US open to drop this back as the shorters pile in again.
Now dropped below $13 . What the ****!
I don't think you need to have any worries at all about the expected final results tomorrow. Im sure they will be indicating continued excellent growth, higher EBITDA, excellent cash generation etc.
BUT that is no signal for the share price to show any meaningful uptick. This share has been for months now firmly in the grip of a consolidated short, DESPITE the third quarter results and its relative price compared to its peers. Ive rather given hoping that even continued excellent growth results will do anything. Like you gdog Ive purchased more for the past year all the way down from mid £7.50's to £ 6.00 by which time sunk into despair. I haven't sold a single share in ages since trimming off a few shares back when the price was over £8.00 so all I can do is stay alive long enough to see my continued holding even get half way back to the brokers targets. Remember the US brokers all targeting a minimum of US$ 26 yet here we are close to US$ 13 and no signs of any movement other than further down every day.
And now we are in general market turmoil with the Ukraine situation and the inflation problems worldwide so am not expecting any recovery possibly this year.
US premarket already showing a dive from $ 15.04 close to $ 14.42 with yet more downside to come today. With Facebook dropping 22% last night who's to say we won't see at least a 10% drop on TRMR today. Just as we were getting back on track this comes along. Bugger !
Telegraph today has report that British Volt to build a battery recycling plant at Northfleet in Kent. With Glencore already invested in the company, this could be a major competitor who is already well advanced and receiving Government support. Meantime we still await the results of the metals refining tests that seem to be taking longer than the Chillicothe report to come to light.
With all due respect to Gdog it was a welcome relief to us AIM shareholders to see the Nasdaq closed yesterday, so we saw a nice rise by 30p. Sure enough within minutes of the US market opening we again see the hundreds of 100 share trades bring the price down from $ 14.55 pre market to $ 14.02 as I write. When will this short attack ever end ?
Just hit the $13.67 for your trade gdog. Wish I could wish you well but all I’m feeling is my money disappearing down the drain
If only I had access to the funds I’d be in again. Are we going to drop below £5 this week .? All of 2021 has now been wiped out and we are back to February levels BEFORE THE LAST 3 QUARTERS EXCELLENT RESULTS. In all my years of investing I’ve never felt more helpless and bewildered by a stock as is Tremor. Used to be the Yo-yo stock but now it seems the cord has broken and the yo-yo sits on the floor.
Should say Munchbox not Munchback although hope your shoulders can bear the weight (wait)