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Todays RNS is rather interesting. I've never before seen a company proposing doing a raise where the issue price (0.12p) is higher than the current trading price! The perk is having warrants that can be exercised at a later date at 0.18p, assuming that the company will take off within the next 2 years.
DGI have reduced cash burn with some directors leaving and others taking only 75% of their salary in cash. It is good to see that the directors are increasing the price of their future warrants, which means they are confident the value of the company will be much higher in the next few years than it currently is.
If somebody had a quick glance at the trading figures and share price, they would see EUA apparently finishing at 4p and sells exceeded buys today:
# Trades 76
Vol. Sold 980,316
Sold Value £43,868.77
Vol. Bought 861,054
Bought Value £39,635.92
Definitely not a good end to the week...
Except, the 2 largest transactions today were:
09-Dec-22 10:42:36 5.00 800,000 Unknown* 40.00k O
09-Dec-22 10:42:35 4.99 800,000 Unknown* 39.92k O
These 2 transactions are marked as "unknown" as the LSE algorythm couldn't work out if they were a buy or a sell! My guess is somebody paid the full ask to buy £80K worth of EUA shares today, yet they haven't been counted in the LSE buys and sells...
All the doom mongers will be out over the weekend attempting to convince the investors that EUA isn't worth investing in, but somebody has just snagged £80K worth of shares at 5p and this transaction hasn't even been counted in the daily stats!
Move along now, nothing to see here! :-)
There have been 6 2,000,000 purchases in under 1 hour. Possibly the same buyer and each time the transaction price has risen...
01-Dec-22 13:19:37 0.4888 2,000,000 Buy* 9,776 O
01-Dec-22 13:14:48 0.489 2,000,000 Buy* 9,780 O
01-Dec-22 13:05:23 0.477 2,000,000 Buy* 9,540 O
01-Dec-22 12:47:48 0.479 2,000,000 Buy* 9,580 O
01-Dec-22 12:38:04 0.468 2,000,000 Buy* 9,360 O
01-Dec-22 12:37:36 0.465 2,000,000 Buy* 9,300 O
Somebody managed to snag 3,000,000 for just under 0.5p.
01-Dec-22 13:30:42 0.497 3,000,000 Buy* 14.91k O
I cannot imagine there will be many sells at 0.5p, so hopefully the price will continue rising...
Mahatma60 - OUCH!! My entire portfolio isn't even 10% of that! My biggest loss was over £3K when my 1st AIM share went bust...
It must be difficult to stay sane when being so far underwater, but EUA have lots of in demand metal in the ground and demand is only likely to increase in the near future IMO. Our patience will pay off...eventually.
I first bought EUA in late 2019 and have been trading them when the price was more volatile. I've always sold EUA sgares for more than the price that I bought them and banked anywhere between 10% and 50% profit. Lowest price buy was low 2's and lowest sell around 3p. Highest buy at 32p and sell at 37p. It was fairly easy to trade EUA and make a profit when the price was climbing.
My last buy was at 9p and I optimistically had a limit sell of 13.7p which wasn't achieved. Last month I sold around 40% of my holding at 5p and took my first loss on EUA, mainly because I felt I could buy other shares that could make money short-term and may have the opportunity to buy more EUA shares in the future. The trading account says my EUA average price paid is around 7p, although I'm on a free ride.
I still think EUA will be sold, although the timescales are uncertain. In the meantime I'm trying to make some profit, as most of my holdings are currently negative.
EUA has dropped by just over 10% since I sold. I bought 2 shares - the 1st is up 30% and the 2nd is unchanged.
I suspect that Japan is still involved in negotiations, even though it isn't part of BRICS. Tamerlan Abdikeev is a N-E director and Kotaro Kosaka as an independent N-E director on the board.
IMO Japan are still negotiating but want to keep talks discreet now as they don't want to give the USA an excuse to start trading restrictions with them like they've done with China.
It looks like 10.00p to 10.14p should be sells and anything above about 10.15p is a buy today. The 10p bid and 11p ask quoted on LSE gives a 10% spread, but the actual spread is much tighter than this when doing a trade. Not many people over the past week have paid over 10.5p this week, so it looks like there are much sells than buys on LSE. They assume any trade below the midpoint is a sell and above is a buy.
LUCE hasn't disappointed me again. It has risen 25% in a week on no further news and the share I sold is down 6% on the week.
Hopefully LUCE will be back into triple digits by the end of the year. The share price is very volatile and price can move 5% up or down with lots of fairly small automated trades every day. I've not seen another share with so many automated trades each day.
Lenoman, you're good at English. ;-)
The EUA bid/offer spread has opened up recently and the 5p level has been broken and fairly sizeable sells are coming in. IMO people are now selling to see if they can make a quick buck somewhere else and then buy back into EUA later at (possibly) a lower price. A frustrating tine for LTHs ATM.
A few big buys came in all within the same minute (likely from a single buyer).
20-Oct-22 12:56:26 67.50 283,197 Buy* 191.16k O
20-Oct-22 12:56:13 67.50 243,197 Buy* 164.16k O
20-Oct-22 12:56:01 67.50 115,325 Buy* 77.84k O
Hopefully we won't stay below 70p for long...
I've been in and out of Luceco a few times and it is one of the few shares I've bought that I've consistently managed to sell at a profit. Last time I sold way too early as I took a profit at under 200p and watched the price keep rising...
I was tempted to buy in again when LUCE went below 100p but I had no spare cash. I was really tempted at around 75p but all my spare cash was tied up in shares.
The RNS wasn't brilliant today, but it didn't justify almost a 10% drop IMO so I sold another share to buy back into LUCE again.
All the "sells" today aren't actually sells. My buy at 10.15p today is being displayed as a sell as current bid quotes 10p and offer 10.5p. I did a dummy sell and was offered 10.015p.
I was hoping to buy in at under 10p but had a chance to buy at 10.15p and the share price seems to have solid support at 10p over the last week.
As bilboburgler has said, South Africa has a current energy crisis (it has been an ongoing problem for almost a decade now and is likely to get worse in the short term). Eskom, the current electricity provider heavily relies on coal fired power stations to generate supply. The classic combination of incompetence and bribery/corruption meant the latest power stations were delivered late and WWAAYY over budget. They also have a several significant design flaws, so aren't running at their rated capacity. This means Eskom cannot supply enough electricity, so need to implement load shedding. They effectively switch off whole areas for around 2 hours at a time. This week a typical Eskom area will lose power for around 6 hours in each 24 hour period. I live near Cape Town and they buy from Eskom, but add some sustainable energy and have a pumped hydro set-up to help generate extra energy during peak periods and pump the water back up at night when the demand for electricity is low. This means we are "only" without power for 2x 2 hour sessions per day.
https://mybroadband.co.za/news/energy/460221-eskoms-code-red.html
The mining weekly report mentions interesting figures. I know that Port Elizabeth is very windy and there are several large wind turbines in the area, so I figured they may have planned to use these wind turbines to generate the energy for the electrolysers. They mention requiring 3200MW, which would be a mixture of wind and solar. This is an ambitious target, as one of the nearby wind farms is rated at 80MW. This means this project would need the equivalent of 40 Kouga wind farms to operate at full capacity. I wouldn't be surprised if they down-scaled the project to less than half of the stated capacity due to renewable energy constraints.
Kouga Wind Farm https://kougawindfarm.co.za
Getting around 10% of the shares you applied for at almost 50% discount to current price is better than not getting any extra shares...
There is always an unknown when applying for the extra shares. SYME could have said people could have got the full allocation they applied for up to a set number, say 1 million shares or they could have scaled things back pro rata. They picked the 2nd option, so everybody gets under 10% of the extra shares that they applied for...
I'm another EUA holder that bought in to UFO, although I just have a small stake here and I bought at just over 1p so sitting on a paper loss.
EUA is the only stock in my portfolio that is still in profit, although I'm still fairly confident the laggards will come good eventually...
I had a 1 year subscription over a decade ago around 2007. I personally didn't think their tips were brilliant. Several of their tips lost me up to 30% at the time and overall I was at break-even.
Another frustrating thing about Motley Fool is they have several "experts" who write articles and supply tips. These experts have differing views - with one recommending a share and another saying not to touch it.
I still read Motley Fool for their free articles to see what they say about a share I'm researching. One time I hit an article that mentioned a share I wanted to buy, but they went off at a tangent and recommended another share instead. I bought the share I was originally interested in and madea note of the price of their recommended share at the time. I made just over 40% profit when I sold it, whereas MF tipped share was just under 20% up so their tip was okay but not brilliant.