Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
End of June for sale of a business where directors / board have lots of equity. That's not long to wait! Priced at £20m with over 50% cash and energy prices recovering. Seems really cheap!!!! "It is the Board's current intention to complete the strategic review by the end of June 2020 and further announcements regarding timings for the formal sale process will be made when appropriate. "
Uk will have to come out of lockdown soon, we are way more cautious that many of our European peers. The data suggests that Covid is not as bad / dying. This sector has been battered. SIG has not bounced properly from the lows and is well capitalised. Sector re-opening. Will accelerate imo. Positioned.
Personally think the share price is a bargain at these levels. Having sold some at 31.5p from original buys 18-20.5p, re-bought all in the 23-26 region. Market is forward looking. Most of Europe is out of lockdown, the UK is being more cautious, but I think this changes. Couple of institutions have continued selling otherwise this would be back in the 40s. I fully expect this to recover and look forward to the financials.
Don’t think 50% unrealistic for May and I would think June at 90\95%.
From last operational update:
UK:
“The Group is currently planning for the majority of its sites to be open by mid-May.
Europe update
In France, all our sites are open and trading has gradually increased during April as French Government guidelines have encouraged more of our customers to resume trade.
We have remained open in most of our other countries of operation and trading has continued on a near-to-normal basis in Germany, Holland and Poland, all within local government guidelines in each country.
In Ireland we have followed strict Government instructions and remain closed, except for a small number of sites supporting critical and emergency projects. As in the UK, we are currently planning for the majority of Irish sites to be open by mid-May.”
Interesting that their cash position actually went up from £135m to £142m from first trading update on March 26th to April 30th. May should see a more positive result still given France and Germany trading effectively back to normal, with Uk and Ireland operating at maybe 50% for the month.
Assay results from 128 rock samples collected during the 2019 exploration programme returned uranium, tantalum and niobium values ranging up to 0.74% U3O8, 0.41% Ta2O5 and 3.24% Nb2O5. Of the total, 43 graded above 500ppm U3O8, of which 13 graded above 1,000ppm U3O8; all but one of these 43 samples were in-situ rock samples. Results associated with the ten best U3O8 assays are summarised in the table below, nine of which are grab samples from outcrop (prefixed G-) and one a hand-auger sample of highly weathered rock in a trench (prefixed T-).
The objective of the programme was to identify new areas of outcropping mineralisation through further geological reconnaissance and sampling, guided by handheld spectrometer. Sampling was focussed on the uranium anomalies identified by previous airborne and ground radiometric surveys, including areas where previous sampling gave encouraging results. The aims of the sampling were to better delineate the mineralised zones and to localise future approximately two thirds of drill sites to test the downdip extension of surface mineralisation. Field observations and sampling results suggest that mineralisation occurs in zones that are conformable with gneissic banding.
Assays from the 10 highest grade U3O8 samples from the 2019 Thambani sampling programme
Sample ID.
T0567 G1902 G1951 G1928 G1962 G1938 G1903 G1929 G1946 G1961
U3O8 ppm 7,369 2,755 2,254 2,028 1,880 1,483 1,409 1,333 1,275 1,239
Ta2O5 ppm 3,849 4,057 2,152 2,450 1,561 29 2,305 1,886 855 1,698
Nb2O5 ppm 12,933 32,401 14,713 17,516 8.634 305 19,451 14,764 3,126 12,823
well, I think it's cheap. Picked up 10000 shares at 48. £2.5m cap. Cash and equivalent over half of this, business back to normal albeit growth shelved for now. Raise at 85p in Feb. Sentiment can change very quickly on these microcaps. They are actually producing.
Couple of £59k buys reported late. Does seem like there is a large buyer for the JP Morgan stock. Look forward to breaking recent highs at 32p ish. Could move quickly once it breaks that level. Anyone with a mid-term view should find the investment case compelling if you believe that demand will return as we move out of lockdown. I’m in this camp!
From CEO appointment RNS late April:
Andrew Allner, Chairman, commented:
"The Board is pleased to announce that Steve Francis has been appointed permanent CEO. Steve has demonstrated strong leadership in the most testing circumstances since his original appointment. His ability to navigate the effects of the COVID-19 environment, at the same time as getting the leadership team focused on the strategic priorities to ensure the future success of SIG, has been exceptional."
Steve Francis, Chief Executive Officer, commented:
"I am delighted to have been appointed to lead SIG. We are using the current period to develop a revised strategy and organisational model and I look forward to sharing the details of this revised strategy with the announcement of our results for the year ended 31 December 2019."
Suspect we’ll get a holdings update next week. Full year results to be published 28 May, with company AGM on 30 May, so will be getting attention. Will be interesting to see how the strategy / outlook will change with new board.