Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
goodflyingduck - When I first bought into BRH several years ago, the main investments hopes were Kirkstall and Gyrometric. In particular I viewed Kirkstall as worth the market cap of BRH. Management is always a key factor in any of my investments and Trevor Brown is a class act. He runs a very tight ship in terms of controlling spend and has a lot of skin in the game. I think some of the prices I paid years ago were around 15p or 16p so when it when it dipped to 10p, I started to pick up small parcels of shares. However, it is very illiquid and the spread can be off putting and so I used limit buys. For me, it was one of those shares that I believed would come good and the best approach was to tuck it away and ignore the daily fluctuations. Hence, it is with delight to see that all its companies seem to coming good at the same time. I am a very happy holder and think this could be multiplies of the current price over the next few months. Longer term, if one or more of the companies are spun out then £1 plus is a possibility.
goodflyingduck - you say "He would surely have known that ...." Well he should but I not convinced he does his homework and I don't rate AG. From what I have seen he is a paid promoter of stocks and I have heard him try to defend the indefensible. Hence, I don't think his interview helped but rather confused potential investors
Alan Green did more harm than good on the Vox Podcast; frankly it was embarrassing. Why did he mention the dividend when he should have known that it was a one off from the sale of BRH non-core investment fund. He seemed to infer that it was a regular thing and even JW didn't buy that. This detracted from the great news from the core BRH holdings.
BTW, I have been holding onto BRH for several years and have had a few small top ups over recent weeks.
Unfortunately, the share price will tread water until the legacy Hvivo Institutional shareholders wanting to exit finally do.
Cathal has mentioned this on several of his interviews so hopefully it finally happens and allows the share price to rise on good news.
Andy rang IR and got the same story about no issues with payments. She said that several shareholders have been in touch and it sounds like they may issue a statement.
Tried a dummy buy and sell of about £15k worth of SAVP and am getting almost a 1p spread 16.42 to sell and 17.45p to buy. It's almost as if the MMs don't want to do any business.
Alternatively, deals and trades are being done in the background like earlier in the week and we will get a flurry of trades appearing later.
Let's hope, we get a positive update on Niger early next week; this is like watching paint dry.
Just noticed 4 large buys come up in 2 pairs
Strange that they are just O trades as I thought they would be worked buys over several days as the volume has not been here over the past number of days.
Can anyone shed any light on this?
If the speculation is correct and the loan from Riverfort is to be converted to shares then
just over 26m of those could have been borrowed by Riverfort and sold to drive the price down (assuming a price of 15.48p - 93% of lowest price last Monday 16.65p - I appreciate that it is the VWAP price for the day but will be close enough).
Hopefully, we will find out that Riverfort give notice to convert over the next day or so and we start to trade on fundamentals
If this turns out to be fact, hopefully SAVP stay away from such toxic loans in the future.
There is a lot going on and even though it doesn't justify an RNS it signifies progress and that something is happening.
I find it encouraging that AK is having these leadership and team building events as it signifies they are really taking a hands on approach to managing the Nigerian assets. Have the judo people speak at the leadership event and then having them promote judo in a community project is getting two for the price of one. It also keeps them in with the government officials.
I particular liked the tweets about AK's meeting with His Excellency Deacon Udom Emmanuel
"Andrew Knott, CEO of Savannah Petroleum, meeting with His Excellency Deacon Udom Emmanuel, Governor of Akwa Ibom State, in Nigeria. The meeting centred on how Savannah Petroleum can collaborate with the State government to exploit idle gas fields in Akwa Ibom. The Governor promised to provide the necessary support for sustained investment in the State"
However, I feel that the market is still sceptical and will wait for hard numbers before any rerate. I am still 25% underwater here but still feel confident that this will turn.
Probably best not to mess with AK as he appears to be a black belt in judo and has fought in the Commonwealth championships see
https://www.heraldscotland.com/news/12184829.sports-digest/
Very quiet on the trading front so maybe Riverfort figure this is a low as they can drive the SP down.
Hopefully, we should see a notification of conversion from the loan holders Riverfort tomorrow or Thursday. Not 100% sure what the lowest VWAP day was, but most likely Monday week ago (27th of January when it hit 16.65p) when the share price hit its low point. It is very likely, Riverfort have forward sold a large amount of their conversion shares and any they have left over, they will be keen to get a good price.
From the RNS on the 18th of October 2019
"93% of the lowest daily VWAP of the 7 business days preceding the date of the conversion notice issued to the Company by the Facility provider"
1m trade showing as a sell but suspect it could be a buy as it was possible to sell in quantity at 18p earlier this morning.
Agreed, this is definitely undervalued.
Topped up this morning at 19.4p but the two trades are not showing.
I have been buying steadily here since seeing them present at Mello
My take on it was there was a very tight spread and there was a good two way balance between buyers and sellers ( the anomaly only lasted a few seconds) . Buyers on the back of the RNS and perhaps disgruntled SAVP Holders selling out. The note holders could also be forward selling some stock before the conversion notice.
Hopefully, we get an update on Niger soon and other good news and confidence will be restored in the board.
The lowest share price was Monday of this week so I think that the conversion notice will have to be issued Tuesday or Wednesday of next week to lock in that low price. Hopefully, if that is resolved there will be less manipulation.
" 93% of the lowest daily VWAP of the 7 business days preceding the date of the conversion notice issued to the Company by the Facility provider"
Share price all over the place; at one point was able to buy cheaper than I could sell.
Anyway managed to buy £10k worth at 17.85p.
Will probably show as a sell
Basically, the lenders can forward sell their shares and are guaranteed a 7% profit.
Hence, the BoD need to get their fingers out and put out some of that good news that they promised
See previous post and RNS on the 18th of October regarding payment of loan - see last line below
"In the event that the Facility has not been fully repaid prior to the Maturity Date, or the Company has announced that it has permanently decided not to proceed with the Seven Energy Transaction, any amounts due and outstanding can be converted at the Facility provider's discretion (in varying amounts in one or more conversions). The conversion price shall equal, at the election of the Facility provider, either:
o The lower of (a) 125% of the 10-day volume weighted average price ("VWAP") as at the date of the Facility agreement; and (b) 125% of the 10-day VWAP as at 16 January 2020; or
o 93% of the lowest daily VWAP of the 7 business days preceding the date of the conversion notice issued to the Company by the Facility provider"
Riverfort Global Capital Ltd. and Yorkville Advisors Global are having an easy time bring the share price down on low volumes in order to get the lowest price for their loan conversion. The company needs to get some news out fast as PIs are starting to assist them as stop losses are hit.
published spreed is 21.10 - 21.40 but actual spread is much tighter 21.10 - 21.14
Hence, some of the trades are published as sells but are actually buys