Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
I sold out a long time ago but you guys are having a great week! Hope it continues. Gla
Will be interesting to hear what Martin has to say today about his below NAV share offering.
Glad i sold the lot earlier this morning.
But gla who continue to hold. The discount to NAV is still attractive and likely will prove a good investment over time.
I just cant deal with a CEO who makes a commitment to never issue shares below NAV and then does just that to,..help out an old friend…it seams.
So im selling my shares. I dont have to invest companies who lie to investors.
If the 50 million is being used to acquire fwd at a 50% discount to NAV, its not so bad… But molten is trading at 60% discount to NAV so there is some minor dilution there. Also why raise 50m if only 41m is needed for the acquisition? This 10m surplus is fully diluting us?
This is surprising as CEO said at recent investor meet. ‘we would never issue shares below NAV’
So are we being diluted or not? Thats my only concern.
Otherwise I'm happy to take on the FWD portfolio if MV management see value in it.
Average about 1% per trading day from here until back to NAV i reckon :-)
Good luck
Clearly passed the bottom now for this share. Stability would have been a concern for a lot waiting in the sidelines to buy. This is reassuring.
Well i certainly don’t think the sp is going to zero. Thats just scaremongering - a quick look at the balance sheet will tell you that. But we could see a tumultuous couple of years ahead if unlucky but unlikely to dip much more. I will just hold for now and not increase or decrease my position.
Thanks Steph and Sage. So its clear then: either its a 10x or it goes to 0 over the next 5 years!
Thanks Steph, this is basically my thesis too, but nice to have some reassurance. A commercial property investment pays nothing really in the first 12 months due to high stamp duty and transaction fees eating up the first year returns. Will probably hold on to grow for another 12 months and then reassess..
If Sage chimes in, I think his short term outlook will be bearish, but his five-year forecast will be most interesting to hear.
GLA.
Im debating pulling cash out of GROW to invest in a discounted property Ive found. The truth is, due to my residency status any profits i would make on GROW would be tax exempt but profits on the property deal would be taxable. Hard to know what to do. I thought i was patient but waiting for GROW to get back on its feet is becoming increasingly frustrating. Ive seen recent GROW forecasts saying its a 3x in the next 12 months and also forecasts saying the sp will be depressed for a long time to come. Perhaps extraordinary patience is the key here? Would be interested to know Steph and Sage 12 month and 5 year predictions for GROW sp. I consider you guys the most active optimist / pessimist respectively on the board right now.
I expect we may see some director buys at this level.
Brexit?
I think the next results will show additional portfolio devaluations. Even so, this seems really cheap now. However, the market fears a prolonged downturn in the market that make realizations impossible for a protracted period eating up available cash runway. In such eventuality MV could actually only be worth 200p.
That said, MV is my largest position.