The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
From a TA perspective, prices often re-test previous levels from a breakout. It's a bullish reinforcement of the breakout, dependent on whether it subsequently bounces off that or settles back into its previous trading range. That still needs to be ascertained but a very common price pattern on breakouts as stated.
I would suggest investors or potential investors may want to focus on the investment fundamentals rather than mutterings & meanings that certain self interested parties have here.
I think I saw one of them state something along the lines of 'I hold a sizeable amount but its CERTAINLY going down'. That's pretty much sums up the poster and his motivations for posting I think.
The fundamentals suggest a very major ROI from current levels going forward.
Firstly, WHY dont people bother referring to the recent and very thorough Investor Presentation with associated Q&As??
Hamm
1.. "Why MATD which a brilliant company had placing at 3.5p?" - That was the price offered by the market at the time, which with the rapid price rise over a relatively short time period, may have been negotiated prior to said rise. Regardless, it's what the market offered with the time lag to operational commencement at the time and importantly, enabled the company to secure equipment for operational commencement. That's along with putting them in a stronger negotiating position with the CURRENT Joint Venture talks.
2. "Why MATD is cagey about these super investors? Who are they?" - They're London based institutional investors. Unless holding thresholds are crossed, they've no obligation to release who they are. Why would they just to appease the paranoia of any individual anonymous BB poster?
3. "Why MATD hasn't told the investors the condition of the EL? Why local authorities permission is still needed?" - If you bothered referring to the Investor Presentation, you would know that all permission etc are in place for production from Heron, which is the main focus at this juncture.
4. "Why all the money still sitting in a bank? Any interest?" - They're not going to keep it under their beds are they. Itll be used to secure equipment etc as stated. Regarding interest accrued, why didnt you bother submitting the Question for the Directors at the Investor Presentation? It would have taken less time than your posting here.
5. "Why MB in the last interview said getting rig contractors is too difficult?" - In the last Proactive Investor interview, he stated he was confident of securing the rigs, despite current wider production backlogs (5 Mins in). Hardly saying its "Too difficult" as you misleadingly state Hamm.
6. "Why MB is not where he should be? Living in Singapore!" - I'm not sure how you or Manro know where he is at any particular time. You two make a lot of assumptions about his domestic arrangements.
Regarding a Takeover, that's not any narrative that I've heard or would assume, having no substance that can be ascertained. Indeed, Mike Buck stated it would consider it a 'personal disappointment' if the company went private and in response to a specific question on the Q&A. MATD are now on the cusp of a fundamental transition from a pure play Explorer to a revenue generating Producer / Explorer.
Theres very strong sentiment to oil prices bolstering further going forward.
Regarding so called 'Inside experts', every BB has those anonymous characters who make such claims. I certainly wouldn't be relying on them for 'insider info' and especially as our resident one stated the EL wouldn't be issued anyway. Insider intel obviously fell very short there and credentials based on providing a list of flights flying out to Mongolia. That's just ridiculous tbh.
Good to get some movement out of the tight trading range and confirmation over the previous weeks of the price support within that range.
Price action going forward should be interesting.
Agree with you on several fronts Ostraliamate but would add a few points to the discussion.
The process for equipment/ services contracts is current and communication of those contracts agreed wont be affected by operational constraints linked to the drilling season. We could have that relevant RNS at any time.
Although I expect a Farm in agreement to be realised (with Petro China), underpinned on many fronts discussed previously, my main investment rationale doesnt rely on that.
We're fully funded to go it alone to commence Heron, so any deal with PC would be a bonus.
Further, it could be later in 2022 or at any time. Talks are current and the Farm in process has been going for some time. Obviously we're in a stronger position now with the Exploitation Licence & fully funded status.
We also have potential news on the operational agreement with Petro China on utilisation of facilities. Refer to the recent Investor presentation Q&A with the Govt of Mongolia being on both sides of that discussion, effectively 'owning' the PC operational set up.
Although we may be looking at actual production in Q2 2022, we can all reasonably assume a significant price build up leading into that.
That's even more significant in the context of the transition from MATD from a pure play exploration outfit to a bona fide revenue generating Producer / Explorer.
That's along with the various news releases mentioned earlier and expected at any time from now.
That's why many are keeping this under close watch and especially considering the current market cap and robust oil prices / upward projections for such.
I'm expecting a very high multiple ROI from current price levels, hence can understand others comfortable in starting to take positions in the investment now for the very significant upside on offer.
Atb
Well, obviously some people desperate to enter albeit at a lower buy price and despite the so called 'disastrous management' and all the usual narratives spun out to achieve individual trading objectives.
As Mike Buck stated clearly in the recent interview of a few days ago -
- Data room now operational and Partnership talks progressing.
- Process of securing rigs & equipment underway. Confident of oil production by mid 2022 accepting backlogs through the PetroChina work schedule and being in current talks with PC to have such confidence.
- Talk of waiting until refinery completion is erroneous (whether deliberate or misplaced) as the agreements in place stipulate production in 2022.
Please refer to the detailed presentation & Q&A section on the Investor Meet platform. Obviously some posters here havent bothered to do so.
We may get JV news well before Q1 2022, ahead of what many will anticipate a more aggressive price build up leading into actual production in mid 2022.
However, as with Mike Buck's characteristically cautious approach, he states such talks will progress at a pace dictated by the other party.
My rationale for investment in MATD isn't based on a potential JV deal, albeit that would be a great bonus. I'm invested on the fundamentals of an existent oil asset and the company being fully funded and making the transition from a pure play explorer to revenue generating Producer / Explorer.
That's why I'm building up a more robust holding at these levels with a view to a high multiple ROI leading into Q2 2022 and beyond.
Do the research yourself and actually make an effort to listen to the full Investor Meet presentation (as well as all the Q&A's).
I also expect we'll be hearing news on the securing of Rigs/Equipment in the coming few weeks and given the process already underway.
The price seems to e range bound atm but as we've noted often before, it's prone to very aggressive breakouts, which I anticipate we'll see soon enough and underpinned by the platform now of moving towards oil producing revenue generation.
Those prolific posters waiting for their buy in prices are entitled to contiue waiting & posting ill researched contributions to this forum.
Atb
Thanks Ojay. I think the Q&A would have put to rest a lot of minor niggles that people may have had. A couple of my questions were up there and good to see Mike Buck answer them so forthrightly.
Regarding your 2.6p top up, the technical show a support around the 2.65p (area) which has already been respected several times and in the midst of the wider market jitters over the Evergrande issue. You may want to push that buy price slightly northwards to cover the 2.65-2.70p area (S/R levels tend to be areas rather than a fixed & defined level).
There's indications on a TA level of a reversal but obviously the actual price action moving forward needs to confirm that.
Although the share price on MATD can move very rapidly, I dont necessarily think we'll see any aggressive breakout and I prefer it that way More a well paced, organic move northwards, initially back to the 3.5p Placing level and then building beyond that.
Certainly well past the recent 9p levels, which were hindered by the operational timeframes and background pllacing.
I discussed MATD with a very good friend of mine who actively trades Aim stocks. I said he may be better off taking a suitably sized position in MATD, as opposed to looking out for highly speculative 'quick movers' which could just easily leave him with a loss.
It's a case of investing for example £10k in MATD now and getting a ROI of £50K-£100K going forward into 2022 (accepting usual investment caveats & exclusive of any Block V results).
I'm actually looking to increase my own holding in the next day or so.
I think it's pretty clear the MATD investment case stacks up for that multiple rise and as I mentioned in my previous posts, we can expect Newsflow in Q4, which we're moving into now.
Listening to the entirety of the Investor meet presentation & Q&As, I think the Petro China JV is well advanced and as Mike Buck stated, one of the potential RNS releases in Q4. Certainly our current balance sheet makes our negotiating position stronger and part of the reason for the recent placing.
When the Institutions that were referred to move in (as Buck indicated and assuming they do),their buying power will have an obvious impact on the share price. The investment case was compelling enough to purchase stock in the first place.
Anyway, although I dont really post or read the BB that often, I'm very comfortably invested here and very confident of my own research & the investment case.
Atb
*Permit Requirements* - Land access to Exploitation areas work differently to exploration areas, hence work on the Exploitation areas are unaffected by any permitting issues.
*Refinery completion* - Scheduled for 2024/2025 but Plan of Development has the company coming on stream in 2022, hence bulletin board talk of delays to link in with the refinery completion is completely spurious and I'll researched. MATD will be on stream in 2022 and why funds are in place and equipment procurement already well advanced.
*Equipment Procurement* - Linking into the above, already initiated and part of Newsflow we can reasonably expect in Q4
*Institutional Interest & Buying* - Confirmation of London based institutions party to the recent Placing and reasonable expectations of them increasing their holding levels with independent open market purchasing.
*Chances of MATD going Private* - hasn't even been discussed or brought up in any context and more of the BB paranoia that tends to flare up by certain supposedly 'in the know' posters.
*Investor Relations* - Mike Buck seems to be very aware now of investor dissatisfaction on that point and the company are looking to be much more proactive with updates & presentations and secure with the company's fully funded position, so no precursor to any further raises etc - its purely about raising awareness & sentiment of the MATD investment case, within the progression of development within that mix.
That's just a brief overview but please have a look at the Q&A yourself. Hopefully it'll put to rest some of the bizarre (and completely unsubstantiated) speculation that's been rife on this BB.
Effectively, the basic investment case seems to be a very solid one indeed and most will clearly see the writing on the wall, for a major upside price progression going forward and as far as we can ascertain such things.
I think where many 'potential' investors may get caught out, is expecting major developments to be exclusively within 2022 - to me, it's pretty apparent the Petro China JV talks are well advanced, the recent raise has put MATD in a much stronger negotiating position and that we can reasonably expect an update on that in Q4.
Make your own conclusions are reading through & listening to the Q&As.
APD708, Mr.B makes some very valid points regarding doing your own research - please refer to the above point about checking out the Q&As and read past RNSs / Presentationd to put that into context.
MATD will be huge (imho) and sooner than people think, but dont take my word for it or anyone else's - dyor
I hope the above adds constructively & objectively to the discussion here.
https://www.investormeetcompany.com/investor/meeting/september-investor-presentation
ATB
Thanks for posting that RonBruce and apologies for modifying the header - this is important stuff and useful for anyone serious about the investment, as it covers many of the points debated here over the previous weeks.
Here's a quick overview but please click on it yourself. As MATD will likely use this platform again, its worth registering for free on Investor Meet.
- *JV Negotiations* - MATD are in a stronger position now in CURRENT discussions, having strengthened their balance sheet via the recent Placing. They are fully funded to go it alone if need be but would prefer a JV partner as itll be more value accretive for the company. Strongly hinting that its PetroChina and possible news in the coming Q4 (refer to comments on Newsflow expections for the coming weeks).
*PetroChina Facility Sharing* - As Mike Buck states "its pushing on an open door". Effectively, PC are dealing with the Mongolian Govt as well as PetroMatad, due to the PSC part of the resource. The GoM are well informed of the financial markers, hence no issue of PC playing hard ball on said negotiations. Also, critically, the PC facilities are effectively owned by the Government as part of PC's own Production Sharing Contract, hence the Govt influencing both sides of the fence.
He also states, negotiations have been 'easy' and further underpinned by Govt support and PCs facilities current operating below capacity.
*Reserve Figures* - obviously looking at the small area around Heron 1 but expectations of significant increase as operations step up for full field development
*Block V* - Looking to exploration activity in 2022 with 'funds that we already have' and / or 'with a partner'. I'm sure we're all aware of the massive potential of Raptor, accepting its exploratory designation.
*New Seismics* - Costs should be around $2M and should be covered by existent funds. Could be initiated this coming Q4 but not time critical.
I dont post often but do find the 'activity' here quite amusing and being a current holder of the stock.
I think many are well aware of what's going on and it does bode well for an impending price rise with so much 'interest' being shown.
I find it remarkable when certain new posters make comments like "Thought i had missed the boat on Monday when it hit 14p but luckily has come back down considerably." Then saying they're looking to buy in at 9p. - Eilleen H
This after stating "there appears only to be a trace amount of gold mineralization"
Why buy in at all if that's the case or indeed be concerned that you've 'missed any boat'???
It's fairly obvious this particular poster, along with others, has a keen interest in holding WSBN stock and most rational readers of this BB will be well aware of that.
Regarding the debate around BUYING NOW v BUYING later, it's a personal choice dependent on any individuals approach to risk and overall portfolio structure.
There's also the choice to structure any buying into chunks, thereby mitigating risk, albeit I expect the upside on any positive news releases to be significantly more than 'a few pence's like some are suggesting.
Do your own research & make your own investment decisions. It's your money and shouldnt be tied in with the manipulative efforts of any (primarily) new posters.
The effects on the share price would be obvious and I expect that well ahead of the actual Q2 2022 production timeframe.
Further possible acquisitions to be secured via production revenues.
I expect we'll see a shift in price momentum to the upside soon enough, with the first benchmark being the 3.5p Placing level.
Do your own I dependent research, watch the presentation and make your own investment decisions. It's your money.
I watched the investor presentation live and a pretty good show by the team, providing insights into the various points often speculated on here.
The basic investment case is pretty straightforward and is fundamentally solid, given the transition of Petromatad to Producer /Explorer from a pure play exploration outfit AND having funding in place to facilitate that.
A real 'no brainer' for a potentially significant, multiple ROI from current entry levels, moving into said production phase, from that perspective alone.
However, the company are currently in talks re: a potential JV with a party that 'cant be named', is 'pretty obvious' and wouldn't likely be a 'new entrant in country' with 'existing operations' in the region - ie PETRO CHINA!
The discounted Placing was effectively what the market offered, given that MATD, despite the obvious potential, are not producing yet.
Regarding the repeated question as to why it was claimed by PIs to be 'rushed' rather than waiting?
Effectively, it ties in with the previous point re: JV negotiations and the relative strength it provides the company in said negotiations. Also, the long lead times in procurements, considering the previous point on Placing levels accounting for current non production status.
What can we expect for Newsflow in 2021, beyond the obvious developments leading into 2022 production?
There was no suggestion that 2022 production is doubtful, that I recall and indeed all systems go for it.
Also, the constant reference to excellent relationships with Petro China re: logistic co-operation and the Mongolian Govt being 'very aware' of the financial intricacies associated with such, hence confidence in that aspect of operations being negotiated successfully.
There seems to be a difference of opinion with another commentator on that subject, so please evaluate the presentation yourself. I'm confident in my takeaway on those points.
Possible Seismic survey as mentioned, Equipment procurement AND potential JV conclusion, given the current talks taking place. These have moved on from the initial preliminary discussions that were previously awaiting the actual EL confirmation to a different level of commitment by the parties to a JV, given the satisfactory conclusion of the outstanding Exploitation License.
That'll be an obvious game changer, prior to general expectations of a hard move leading into 2022 production, hence why I'm very comfortable with my current holding.
The 'BLUE CHIP' company references are London based institutions and not 'shady Mongolian entities' that some supposedly 'highly placed' informed BB poster was trying to promulgate.
Indeed, its anticipated that these Institutions will be looking to possibly increase their holdings with open market buying, which is something I anticipated happening within the post EL to production period.
I havent posted for some time as nothing substantive to contribute to the discussion.
The investment case is a very strong one for a material rise leading into production activity. The macro economic prospects are good and the cash position solid.
Against that backdrop, we have the usual 'BB antics' of anonymous posters diverging from known fundamentals and delving into highly speculative territory with absolutely no substance to validate their assertions.
We have talk of Mike Buck's recent stock purchase at 3.5p 'possibly paid for by someone else'.....and where this that Intel cone from?
Then we have the commonly used 'insider Intel' by people claiming to have high level contacts in the Govt etc /a consulting presence in the region - REALLY??
The same person who was very sceptical of even getting the EL issued, based on said 'Intel' and pasted all over this BB leading into the RNS confirmation of the EL issuance!!
These highly placed (lol) individuals also have time amidst their busy schedules consulting at Govt. level', to be constantly posting on the LSE forum ;)
Great posts D1nger and certain others, which bring us back to the fundamentals of the actual investment case, validated by info based on official RNSs with the associated accountability etc.
Posting lists of flights to Mongolia in an effort to validate country credentials, comes across as a bit silly tbh.
We'll have the investor presentation soon enough, with I expect our usual culprits desperately looking to get their buy in prices now, before that event ;)
Until then, the 'smoke & mirrors' brigade will no doubt spout the usual nonsense that has plagued this BB for some time.
Ignore the noise, invest on the fundamentals!
Good post at 14:35 Ostraliamate and effectively the hard investment case scenario moving towards production / revenue generation.
I think the 'wolves in sheeps clothing' activity is pretty obvious to most and not surprising given the massive derisked upside we can expect moving forward. Lots of the daily lamenting will e those inwardly knowing that and looking to enter positions ;)
However, some of the points made, whilst not impacting the validity of the current investment case which is excellent imo, are worth considering.
GKahn makes a compelling case for duplicity prior to the Placing announcement. I tend to agree with him, albeit think any action to pursue redress would be difficult to advance.
I also, like Spanish, would like to know who the blue chip investors are. However, I doubt we'll get any joy in that respect if those investors stay below the reporting threshold.
Cashrules, I'd refer you to the following in the most recent RNS -
"The Company has appointed its broker, Shore Capital, to use reasonable endeavours to place any Ordinary Shares not taken up under the Open Offer with institutional investors at the same price as the Open Offer."
If Institutions tried to pick up any significant stock on the open market, the share price would see a disproportionate hike on relatively modest buying from them. We're likely to see the Open offer shares gladly picked up by Institutions and not Private investors. The primary bid opportunity seemed also to shut out most PIs attempting to purchase through it, hence a bit of a dud and perhaps deliberately so.
I hold the belief that contrary to any rhetoric stated, the company is effectively looking to shift the PI investor base to an institutional one.
The investment is now heavily derisked and ripe for the relative stability of bigger entry players, with smaller investor concerns / feelings being of little interest now.
That doesnt change in any way the prospects of the company going forward and why myself and others are laser focused on that and the impressive ROI we can expect.
Putting aside personal feelings and following g the smart money, is probably the best way to go and why I've increased my holding.
I dont agree with certain actions but we're effectively funded to start mo etising Heron and with a healthier balance sheet to advance the current JV talks.
Petrovis, Buck (and mates) know what's going on and confidently buying stock at 3.5p, so I think I'll do the same ;)
Arbitrary suggestions of 'future shafting' by Mike Buck etc dont fit into my investment analysis, as they're completely intangible and impossible to incorporate into any hard assesment of MATD.
I'll go by what I have which points to a multiple ROI from these price levels for a heavily derisked stock, strategically moving from a pure play explorer to Producer / Explorer.
People will be comfortable with their own expectations and often based on psychological comfort zones for ROIs.
What we do have at least, are some worked projections based on an a analytical process.
These are multiples of current levels even at lower end, baseline levels and obviously much (much) higher on exploratory outcomes.
Not sure why the company would even consider the random 10p figure bandied around, when we have an asset base & prime acreage justifying a significantly higher level.
BB logic at it's best, lol - or in fairness to them, what they wouldn't mind as an exit price right now.
I'm looking for a much higher multiple for my ROI and confident I'll get it, based on the hard, fundamental investment case and not BB paranoia ;)
I dont believe we're at the level we are due primarily to drilling next year. That was pretty much stated by Mike Buck in his April /May Lse interview. The market was aware of it.
The heavily discounted Placing for Petrovis / Management benefit, is what's really hit the share price short term, imo. We all know that generally speaking, prices tend to drift to Placing levels and often overshoot somewhat. Surprise, surprise, that's what's happened here.
However, lets not delude ourselves that Petrovis / Mike Buck would have picked up stock at 3.5p if they weren't sure of a major return on those purchases. Unlike previous placings, we're heavily derisked now and will be transitioning to revenue generation.
I've followed the smart money on this at a better price than the Placing level and certainly not based on any less informed BB speculation.
That even overrides any issues re: possible profiting by parties through prior knowledge / indirect holdings. These things do happen as GKahn rightly pointed out.
Again, I'm looking at the hard investment case & ROI as presented now, at CURRENT Buy price levels & Mkt cap.
I think the point about creating a healthy balance sheet, given the 'Resumption' of JV talks is also a very valid one to add to the mix.
We're well funded and in a much stronger negotiating position regarding such talks.
My own expectation is for news on that front shortly and given the 'resumption' will be more about finer details rather than any protracted negotiations.
Some would have us believe that the 'EL took years so the JV will as well' - that's unrelated and bizarre logic, imo.
Those of us who have been around investments for many years and not relying on supposed ' insider / country specific' intel, will be more than capable of reading between the lines.
We have increased shareholdings at opportunistic levels, for a major ROI from those new shares in a now heavily derisked investment. These parties (Petrovis, Mike Buck etc) will be well aware of the JV progress and the strengthened negotiating position as we move to conclusion of those.
Buying in now at below those levels, then gets put into a clearer perspective.
I increased my own holdin
Solid, factual based posting focused on the MATD investment case by J Adam.
Not really interested in any gossip or cattiness that our friends from other BBs want to throw about here.
As an aside, it looks like some may be threatened by the price decline cessation ;)
What's happened in the past with wildcat drill failures is the past. The present is a bonafide resource ready for monetization and the Exploitation Licence issued / funds in place to achieve that.
Why mix issues a d rely on emotive rhetoric to muddy the investment case currently available to investors??
Regarding the management 'misleading', take it as greed perhaps, which we can benefit from at this juncture by securing stock at below their own opportunistic Placing price.
No place for emotional chest beating when dispassionately assessing an investments worth at current price levels/ development cycle etc
JAdams, thanks for your really informed posts here, that continually take the focus back to the actual investment case.
You're absolutely right in that a healthy balance sheet covering operational expenditure, would significantly strengthen our negotiating position with any potential Joint Venture partner.
As I stated in my last post, I believe those talks are well advanced with News / post RNS interviews coming soon.
An important factor to consider from the larger perspective and thanks for highlighting that point in the context of the discussion
I've already given my opinions of the Management & Petrovis, so wont dwell too much on that now.
I'm focused on the investment and what it can deliver, so no room for emotions when evaluating it.
Many of us believe Petrovis, Buck and certain others have been opportunistic. However, they certainly would not have put their money in if they didn't expect major gains on the investment.
This isn't like pre-discovery /pre- License times. Picking up stock for them now is a guaranteed earner and especially as they're more aware of backroom negotiations and operational rollout going forward.
It is galling to know that there was some heavy selling prior to the EL issuance / Placing notification. Obviously no 'smart money' acting on privileged I fo right? ;)
However, the smart money just piled in at 3.5p with a much better idea of development going forward than any PI assesment.
I've long held the belief and posted on that I expect PIs to be nudged out of the investment in favour of larger Institutional/ preferred shareholder holdings.
The opportunistic 3.5p Placing certainly helped that, with most experienced investors seeing through the paltry 1 for 16 open offer.
Whilst having no crystal ball, those looking for the lower entries available in early 2020 may want to factor in the initial traumatic wider effect on the market at the time due to Covid, along with the collapse of the oil price to just above $20 bbl.
We're now in a more stable macro economic environment, albeit still somewhat rocky and with an oil price around $75 bbl AND with the Exploitation License in hand.
As the shift to a heavier Institutional holder base occurs, I've increased my own holding level by about 30% at a sub Placing price
I know where the smart (albeit greedy) money is going and am expecting further Institutional buying on the open market along the way, so as to protect the precious Petrovis stake AND the near term conclusion of the RESUMED Joint Venture talks.
I dont for one minute believe they weren't at an advanced stage and especially considering the asset based Intel essentially only requiring the Exploitation Licence issuance to progress to monetization.
I guess we'll get the I interview rounds soon enough Bolivian Banks and an upward trajectory of the share price moving forward.
Very comfortable with my own holding, following the Greedy/Smart money but based on my own independent research.
Arden research note 17p-116p, let's see but a very high multiple of current levels either way, imho.
Firstly, let's get the dirty laundry out of the way.
The Management certainly havent acted in PI shareholder interest with the structure of the funding. They've acted in their own interests above all else, even if they are more closely aligned with us now. Small comfort but there you go.
I dont like it at all but am laser focused on operational development in 2022. I was never going to relinquish any stock, regardless of upward price movement in the interim.
The holding on.my PF doesnt look as good but again, I view it in the context of my overall strategy for MATD.
Sharp management practices aside, the asset potential is unchanged with funding secured.
The company have a relatively low number of shares in issue, with new share issuance still keeping that relatively so.
The Mkt cap will still likely be a high multiple of current levels or those reflective of a 3.5-4p share price.
The stock has been heavily derisked, we still have a massive multiple upside potential and regardless of a quick greedy move by the Management team.
As I anticipated, MATD dont need a PI shareholder base any more, with 'special interst' parties taking over as the company are positioned for major growth.
I think that's a pretty fair assesment of the investment and without throwing out the baby with the bath water.
Fresh eyes at the prevailing market cap and where we can expect to be in 12-18 mnths.
I'm not losing any sleep over the price move whatsoever.
Refer to my post 20:09 post on Sat for the reasons why.
It's very obvious the JV is to be concluded shortly as stated in that post.
Itll be fun to see what happens when that RNS hits.
In the meantime, theres certainly opportunities for those that can actually analyse the investment case beyond any short term hysteria.
They're the ones channeling larger funds into a longer term, derisked hold.