Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Technicals:
Today is first positive day on MACD histogram since Jan 20 2022. Yesterday's close was the first close higher than the close four trading days ago, also since Jan 20 2022. Support held at 75 over several trading days with declining volume, yesterday's vol 256K. Today's volume 1.86 million highest since Feb 2nd (sp was then 110p). Could be a coincidence.
@senseman
I read the article. It is clear that the writer has done no detailed research into the company.
Clearly the rumour got out at 8.00 am on March 1st. During the first hour of trading the sp dropped from 3.70p to 3.22p on quite high volume. For the same period the movement in UJO and EDR was a drop of 2%. Thereafter the rot set in as the price slid to 2.75 at close of play today. On the hourly chart, the recent run started on Feb 16th at 9.00am on Feb 16th when the price was 1.76p! EOG should have waited for a further update on Wressle.
EOG holds 30% of Wressle. However, after hours, they have announced a placing at 1.8p (50% down on Monday's close) to raise £7 million. Surprising, or perhaps not, that they couldn't wait for more good news on Wressle to get a better price. This may explain why UJO made the recent statement that they would not be raising funds in case someone picked up and disseminated false information.
Maybe management are in the process of finalising the year-end accounts and getting sign-off from the auditors a little earlier this year. UJO have unutilised tax losses in excess of £8 million ( value in excess of £3 million) but it is not shown on the balance sheet. Will some of it be considered as an asset now that the company has started to make money?
A good message. This means transferring the surplus on share premium to distributable reserves. UJO is not yet big enough to attract institutional support, but no more taking soundings from bucket shops and other such disasters.
HUR will not be able to do anybuy backs or pay dividends until they have distributable reserves. At year-end 2020 the cumulative deficit was close to US$700K.
TW alleges that on fundamental basis it is a short but refers readers to a third party. As you say his performance is distinctly patchy. He is better at sniffing out prospective placings and identifying egregious behaviour than making recommendations on future direction of shareprices, whether it be upwards or downwards.