Member Info for Pedrobull

Thanks Maccc, glad a saw that.

Not only is the trust trading at discount to NAV the miners themselves are due a re-rating and these guys know what they are doing.

Buy long stay happy!

It certainly is a small business and getting smaller - Market Cap: £44.72m

Pretty uninspiring considering how long they have been in business, do they maybe just all earn good salary packages and shareholders can whistle?

Worth reading Nick Train's January report here;

https://www.ltit.co.uk/performance/monthly-manager-reports/

cut and paste of a section of it;

"The volatility has continued into February, with indiscriminate selling of data and digital platform businesses. In early February RELX and LSEG shares fell by double digit percentages in a day – both triggered by a product announcement (11 industry specific plugins for Claude Cowork) from AI leader Anthropic. The promise and pace of AI is now so universally acknowledged that the impact was not company specific, but thematic. Almost the entire information services universe fell on the idea that cheap AI tools might commoditise data provision altogether, with some referencing the ‘DeepSeek shock’ that hit big tech in 2025. Many have written about the fragility of world markets: their concentration around a small number of stocks and the historically high weighting of passive flows, with thematic or factor-based strategies taking up much of the remaining ‘active’ slack. Perhaps this all serves to exacerbate market reactions.

With all humility we believe we have been here before – or at least heard echoes of it. With RELX we held it through the mid-2010s when its science business was supposedly threatened by open access and online self-publishing."

Volume traded on LSE is 995K so far this morning

Looks like the market thinks otherwise.

GLA

Thanks SG that explains it.

Results on Feb 26th will interesting.

But yes Polymarket and Mass. legislation is going to be complex, I had no idea so searched who owns PolyMarket (a peer to peer trading model like Betfair)

CoPilot results - Polymarket was founded and is led by Shayne Coplan, with major investment stakes held by Intercontinental Exchange (ICE) and several prominent venture capital firms.

Polymarket, launched in 2020, is a cryptocurrency-based prediction market headquartered in New York City. Shayne Coplan is the founder and CEO, and he retains an estimated 11% ownership stake, which contributed to his status as the youngest self-made billionaire following a major investment deal in 2025 (Coplan, Forbes).

Forbes

+1

In October 2025, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, made a strategic investment of up to $2 billion, valuing Polymarket at approximately $9 billion post-investment. ICE’s involvement positions it as a significant stakeholder and global distributor of Polymarket’s event-driven data, while also partnering on future tokenization initiatives.

TheStreet

+1

Polymarket has also received funding from venture capital and angel investors, including 1789 Capital (associated with Donald Trump Jr.), Polychain, Founders Fund, General Catalyst, and individual backers such as Joe Gebbia, Vitalik Buterin, Dylan Field, Mark Pincus, Travis Kalanick, Glenn Dubin, Peter Thiel, and Brian Armstrong. These investors collectively hold substantial equity, contributing to the company’s $9 billion valuation and $2.3 billion total funding raised across multiple rounds.

Forbes

+1

In summary, Shayne Coplan remains the founder-owner and CEO, while ICE and a consortium of venture capital and angel investors hold major stakes, making Polymarket a mix of founder-led and institutionally-backed ownership. This structure supports both operational leadership by Coplan and strategic growth through ICE’s institutional scale and investor network.

Still in freefall

We all know the bookies always win but regulation seems to be taking it's toll here.

7% off this morning no news apparently but the US markets are rolling over and that might continue.

note to self - NEVER TRY TO CATCH A FALLING KNIFE.

Many may not have seen this video, lucky for me this LSE website was not showing RNS this earlier so I went to the other LSE

https://www.londonstockexchange.com/news-article/KZG/operational-update/17455352

The video shows a huge tarpaulin area weighed down with tyres, this is HMS which Dennis says many conversations are taking place with interested buyers.

GLA

Back to average today 783K but a notable single deal 500,000 shares at 3.6p

Was busy this afternoon and missed the opportunity to add before results, this is a screaming buy IMHO

GLA

I think Silver will break above ATH 120 in March and onwards to 200+

Obviously X is sending me messages I want to read and furthering my confirmation bias

Miners have a lot of catching up to do even if Silver stays 60 to 90 all year though IMHO.

GLA

Title for attention.

This is the first RNS I have ever seen with a self-shot informal video!

Dennis talking about progress following his visit to both projects last week, 1.5 shifts in daylight hours moving to 2 soon.

GLA

4pm over 2.2M shares traded with the average volume over 3 months at 750K (source investing.com)

Thanks ShearClass, the explains the rapid midday move. Thursday will be interesting that's for sure and I expect a pop unless the US CPI on Wed and payroll on Friday cause the algos to fret!

Worth reading Nick Train's LTIT monthly update in Dec available here.

Basically AI is threat and an opportunity

https://www.ltit.co.uk/performance/monthly-manager-reports/

" it’s clear that many believe the

opposite – that LSEG and RELX are at risk is being

disintermediated by AI. We do not believe that is the case

and see the recent derating of both businesses as an

opportunity, but we recognise the need to see more

confirmation of this potential. "

GLA

Good bounce back and long way to go, I won't be selling

Est. NAV per share as at 31 Dec25 561.9p

Full year results due in 1 month

I reckon MSTR is huge bet, in the LONG TERM either BTC goes to zero or it goes to $1M+

I think BTC goes to $1M+ and if so MSTR goes many multiples of current price...

Buy long stay happy.

GLA

Results last night saw after hours trading hit $102 with BTC trading close to $60K, pretty volatile now $131 with BTC at $70KA

MSTR holds 713502 BTC

Almost no shares traded at all today

Riceyboy84,

there won't be any investigation, there never is.

You pays your money and takes your chance.

Check out Minoan, suspended and delisted at 0.175p took investors for a ride for maybe 20 years, never made a penny