focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Somone certainly wanted some! a £37K delayed trade reported from yesterday @36p.
I top sliced a few that I had added after the Director (+trading) update in October. I am keeping the rest for now as airplane manufacture is looking OK and I think that there is a lot of potential for additional alternative applications going forward.
The easiest way to look at this is the excess as a percentage of the number allocated in the offer (as this will already be in proportion to your holding).
Provided you asked for an excess of the maximum amount possible, you should have received around an additional 86% of those in the original offer.
The placing is around 25% discount to the asx price. $140M is underwritten. Probably now held by some of those shorting it since the beginning of the month! The last time we (lse listed holders) were not eligible for any under the entitlement offer, hopefully we will not be locked out this time.
It looks to be a December update (below).
I think the -
"The business is in a strong position. Velocity has continued to trade as expected in 2022. We are progressing well with expansion opportunities. The Company plans to announce a trading update in relation to the year ended 31 October 2022 in December 2022."
-at the bottom of the Director Change rns was the key to the turn around.
I listened to a talk from the fund manager speaking last., they are expecting a 20% fall in commercial property values over the next year. Today's rns indicates that this is already starting to show with the sale price being 11% below Junes nav valuation. The question is to what extent is this already priced in with the 50% discount?
I agree, I still have a small holding here but not adding as their comments about deferring developments indicates cash is tight. I think that it has long term potential, but it is another for the bottom draw for now....
According to Bloomberg only 10% of the gas stored in Europe is owned by the national governments the rest is held by traders and companies who can sell to the highest bidder.
They will be in no better position than us in the winter.
Thanks for the comments, I realised that they had already delayed it once but what I was trying to understand the economics behind this action. Is there a significant cost to delaying until next year or is it just about credibility?
Is it a case of the BoE having said we will start so they proceed, even if the current circumstances (and market responses) indicate that they may be better waiting further?
'The Bank of England denied a Financial Times report saying the central bank is delaying the start of its program of gilt sales, prompting a selloff in UK bonds.'
We have just had a whole raft of taxes cuts removed to stabilise things. Last week the BoE was buying the bonds, how does starting QT square with working with the Treasury to provide stability as Bailey said the weekend.
It has to come at some point but surely this is not at this time? Genuine question - why is the BoE so keen to start on this now rather than next year? (Usually they prefer to be behind the curve!)
At this moment NG are paying £26MWh, tomorrows next day average price is £62MWh only about the second or third time it has been below £100MWh this year.
An article in Bloomberg at the w/e indicated that the EU may not apply now an electricity cap -
'A number of countries have also called for severing the link between gas and power prices through imposing a price cap on the fuel used for electricity production, an idea that the commission is not planning to put into operation. While such a model has lowered prices in Spain and Portugal, it bears some risks if introduced across the bloc, it said in the draft.'
It will be interesting to see what they do end up doing here. For what is supposed to be a 'boring investment' renewables have been more of a roller coaster ride than some of my small caps!