Member Info for mbingo

As for June ...

Really cheap share at these levels.

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

Think the Uranium assets (U308) being overlooked here too. Some very high grades reported and it’s on the cusp of a bull run.

Below cash level, so assets for free currently.

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.

Wonder whether the new board is actually quite happy that this has fallen through - sale was agreed by old board. This business generated/still generates £5m free cash flow per year - not bad!

Financials due next week. Will be a statement re company outlook and I expect clarity on the strategy going forward further to the CEOs statement.

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!

Starting to go for it. Very happy to pick up more at 23.75-26 in this pullback.

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.

Another 16,500 shares for me at 24.24 .. cheap

Thanks Maverick. Think SHi a compelling mid-term trade at these levels. Think the construction / housing sector is compelling also with the committed infrastructure spend. Kier/GFRD etc

I'm sitting on mine. Will go on a run at some point. Fundamentals say this should be much higher. I'm under water from 130-140 buys.

adding more at these levels. Another 30k.

We have seen institutions - Goldmans, Aberfour, IKO - buying since the new board were appointed. I would be surprised if they don't continue to add here. IKO at 14.77% interest were increasing in the 80-100s in January. Cash at £145m ish. Cap at £145m now. Any sign of II buying and JP stalling and this will move quickly back through the 30s.

Any views on whether the $45 price will be confirmed? Very Cheap without this, but would be a cracking buy if it was approved.

It's dropped way too far too fast - and business fared better than expected during lockdown. Seller holding it back, but really can't be much longer. Great opportunity at this level for a mid-term hold/recovery.

a lot of cheap equities out there. GKPs balance sheet and assets are exceptional. 1Bn barrels in the ground .. producing 40k bopd. Cash almost covers the market cap. Even with brent at these levels, the OPEX is about as low as the Saudis at 4/5$ barrel. Value play. I would have thought a takeover target too at these prices. High Political risk, but enthused by the March payment and plan for Nov-Feb payments. Potential to be £1bn+ cap company in relatively short order if they can all get their act together and Brent recovers somewhat.

Agree, business valued at Nil currently. They have picked up a few new contracts which is a good sign, but they have a massive order book with certainty of over 70%+ of next year's revenue. Very low risk in my view. Lastest investor presentation makes for good reading!