Member Info for Phoebus

My thoughts exactly. Pick up the TSX opening price and then off we go.

As of 2015-09-30 iin GBP, total current assets £7.0M minus total current liabilities £1.0M minus £1.1M for admin costs since last update gives net current assets of £4.9M or 2.7p/share.

Trading a fast moving microcap is never an easy call. However, in this case the huge asset underpinning warrants a less cautious approach IMO. On it like a bonnet if you get the chance.

And market cap still under net current assets BEFORE adding huge cash injection from today's news. 4p easy this afternoon.

2p breached. 2.05p to buy. :D

Here we go. Any moment now.

I guess they are off chasing IOF and the Horse Hill stocks.

:D

I think this will move very quickly once 2p is breached.

Should be 14:30 if I have my ET to BST conversion correct.

I totally agree. The lack of liquidity here and the timing of the news just after open will likely have caught the MMs off guard. I'm guessing they are trying to sort out their positions prior to the TSX open.

2.7p is before this deal. I used last balance sheet statement and then adjusted for balance sheet changes announced since then plus prorata annual admin costs all as per RNS.

OSU is now massively undervalued relative to the potential cash pile. Liquidity has always been low on AIM, so the AIM cancellation looks like a smart move. My spreadsheet has net current assets at about £4.8M or 2.7p/share so it's next to no risk buying at this SP. Best get in before TSX opens this afternoon. Better liquidity there should see this surge. This should be 4 to 6p now IMO. GLA

Spot on. Check the balance sheet. Last interims state net current assets were minus €110K as of 2015-06-30 and I see no funding since then. Several mediocre stocks have had massive short-lived spikes the last two weeks on at best mediocre news. Good if you traded, not if you get spiked. Perhaps it's symptomatic of the awful funding environment facing many small companies at present. GLA

Well done.

Market cap £18M. Early stage exploration. RNS reports intercept figures only. Current net asset position approximately £0. Major funding risk. Posted RNS links and data earlier.

Indeed. A load more folks going to get burned.

Even so, net current assets are about 0.10p per share so current SP has only just moved off the point at which it is totally underpinned by the balance sheet. Very good risk reward at these levels.

moving back up again. :D

Why not. Similar set up to AST pre CAD RNS IMO.