Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Lot of value at this price. Re-rating happening now. Barely more than £20m cap.
Added 50k shares today at 12.7, a screaming buy at this level imo; debt pile worked back with accelerating cash. Hedges were pared back towards year end and large upside from increase in Brent prices. Board well aligned with holders.
I’ve added today - market cap at these levels compelling.
I like: “ the product gross margin increased by 40bps to 62.7 per cent. (H1 FY20: 62.3 per cent.), a result of reduced discounting compared with H1 FY20, particularly online, and higher postage income.”
Think limited downside. Peel have price target of 50p. Online growing significantly. I bought some today. £20m cap is wrong for a company with £225m sales and growing online presence.
Large buys, small sells... goes up further, pauses and then I suspect doubles. Re-rating currently.
Large 16m trade at close. Lot of volume here. Directors hold 20% and 3m cash. Equity holders going to be looked after here and frankly looks very cheap at £6.5m cap after successful hit! Picked up 1.5m so 0.2% company ??
The economics are materially different at $55 Brent. Brent below $45 for October/November and gas prices flying. Hedges paired back, cost discipline, early debt repayments. Massive debt still, but can come down quickly
You’re right, they have £3.5m, perhaps a little more. There are working capital costs, salaries, premises etc. This is a big position for me. Just trying to weigh up the negatives for balance.
Think it is a very exciting prospect with CEO who had a lot of commercial success at Siemens and has a large addressable market for their products. In addition, they have a partnership with Paragraf and want to commercialise Graphene Photovoltaic solar cells which would have huge efficiencies and open up altogether new market for laptops/electronics etc. On the downside, the company need to demonstrate that they can sell the current products at scale and have limited resource available to them. Covid has been disruptive. Valued at £25m-30m, it’s fallen a long way from highs of 19p and frankly provides a great entry point, especially when the political backdrop will be a green one and as people embrace need to act around climate change. Risk v reward very attractive in my view.
Graphene is the USP. If via their JDP with Paragraf they can commercialise world first graphene solar panels, this would disrupt the sector and bring in many more markets.
Directors with equity there - important.
You have to be accountable for your own decisions. How much are you prepared to pay... just trying to help..
arbitrage opp i think.
Yep! The green movement gathering pace. Miners being able to save money and be more sustainable is a Win Win. I expect to see more contract wins, but it is the tech with Paragraf that could really make this take off - and disrupt the sector! That is worth megabucks!
There is a 2.5m trade in there! Can’t see a 200k. Hopefully means more stock held in tight hands!
The market is vast and their product is a superior product. Green is the right path for all of us, but particularly corporates - and as an investor or fund manager, a green emphasis will be important, particularly with Biden's win. The CEO has a great track record of commercial success - and is aligned with holders. Unicorn now own 5.5% the business, which is a great endorsement of the technology. Paragraf could take the product to a completely different level. Plan to to be free cash flow + by early 2021. One for the long-term!