Quite. They’ve said they’ll return more cash or wind up if they can’t find a better use for the cash and shell. Think this will do well. Especially as the CEO has 10%, interests are aligned with shareholders.
It should clearly be over a pound. I put £100k into the old stock, 95% of which comes back so really it’s £5k at about 30p per new share. I’ve just bought £18k at 78p.
I can’t decide what the trading business is worth. They’re considering selling it. If it’s a positive number the price should be over £2. If negative, well it’s only 20 staff and it can’t cost that much to shut, certainly total overheads look to be under £2m and there’s £9m cash I think. DYOR though obvs. Someone else verifying this from the last results and recent announcements would be appreciated!
Yup as per my last post, this was about 25.5p yesterday. They're now trading ex a 24p dividend and post a 22 for 1 consolidation. So Yesterday's price less the 24p dividend is 1.5p a share, time 22 is the equivalent of 33p a share today. Company is left with about £2 a share in cash and a small but lossmaking research business. Should clearly be higher than 33p. Possibly less than £2 though depending on what the trading business is worth.
The 2014 stuff on here can be ignored - it all refers to a totally unrelated company called 2ergo which used to have the ticker "RGO". It changed its name to Broca, changed its ticker, and RNS announcements stopped appearing under RGO. Meanwhile the current Riverfort Global Opportunities was until Nov 2018 called Paternoster Resources. Its ticker was PRS. If you overtype PRS in the web address you'll be able to see the chat for Paternoster. The RNS page will have RNS announcements too - but note that interspersed with them is news about Prosafe, an entirely unrelated Swedish company.
LSE really needs a better system! In the meantime you would be much better off going to the Riverfort Global Opportunities website and reading the past announcements there, under the Investor Relations tab.
I have a friend who tells me London house prices are grossly overpriced and will fall. Trouble is, since he started saying that, they’ve doubled. Remind you of anyone?!
That said, at some point the prediction becomes true. Nickel’s like a stopped clock, at this rate he’ll be right eventually. Doesn’t do him any good if he’s already lost his shirt on a crazy short, but I do have concerns this is running ahead of itself. I’m selling a bit of my holding - less than half but a large minority.
Thanks nenny. Yup really pleased. Bought more at 5-7p, 19p, and the placing at 12.5p, so my average is a lot higher. Selling a few now though, would be gutted if something went wrong and I hadn't banked a few of the gains. Keeping lots though - I do feel it has a chance of 10 bagging from here as has been said already.
I've bought heavily here. In barely two weeks the share will trade ex a 24p dividend. So it's the equivalent of 1.5p a share now. Yet it'll have a small German business and by my calculation around 9p a share of cash. Even if the German business is losing money it can't eat far into that 9p a share - it's £15m of cash and there's only 20 staff.
This really ought to be higher - and surely will be trading at more than 1.5p a share in 2 weeks' time!
Nickel who did you short this through? I agree this might be like EVRH, but I was in them at 1p and out at between 1.2p and 6p. Missed the rise to 20p. Now back in at 4p. Would have been good to short the 20p to 4p bit.
Yeah, could do. I hope you’re right, I’ve got a few. There do seem to be better opportunities though. I like BIDS which I’ve been in since it was KIN. And PIRI is my current favourite shell.
Odd how some firms seem to have almost no following on here though. Eg OMIP - why isn’t that a screaming buy with more people talking about it than DBOX? Or PVCS which is 25p a share and pays a special dividend of 24p next month! Surely both are better places to look in the short and probably long term?
I guess the downside is that there's minimal cash on the balance sheet, and profits are low in absolute terms so will be eroded by the cost of being a plc. Management has a somewhat invidious choice - strong growth generally needs investment, and there isn't much cash for that and from OpEx it will hold back profits. Or cut costs hard to grow bottom line at the expense of growing top line, and stay relatively small and pedestrian.
I'm kind of neutral at current levels. I do like the business it's just a bit small to be public. I hope they can find a way to break out - maybe a low cost bond, convertible at a higher share price. Execute a sensible acquisition, price rises, bondholders convert, they're out of the hole.
Sorry to hear that BigJig. I did really well on this initially - bought in at 1p pre the reverse, sold gradually as they went to 6p. Missed most of the later highs. I've piled in at a bit over 4p. Feels like it ought to do well, we'll get a steer from outlook they'll surely release with the 2018 results which I guess are due any day now. They have enough cash to see this through and if there's any future in this stuff the work they've done in sorting out all the licensing has to be worth something.