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Good post pandomonia,
Yes, nothing stays still. Mcro is becoming a better outfit, cutting costs and debt yet still with huge revenue of 3 billion and ebitda margins rising 2% every 6 months (going off the last 6 month period). The move to digitalisation massively accelerated by covid. Software developing in itself will be transformed. No need for expensive premises. Outsource to India etc.
Anyway, mcro priced to go bust. Maybe it will become rather successful. New management always has an inpact.
Clemoc,
Sorry but you seem to change your view on the hour. You must realise after even a short time in the markets that they are volatile and you need to grind out a return. Most give up. But your constant moaning and retrospective analysis isn't informing much on this board.
Clemoc
Looks like you'll soon get that opportunity to jump ship at 500. Let us know when you sell up..
Trading is too difficult and more than 90% lose doing it. Of the 10% that can, most burn out. I just buy recovery plays and news that surprises the market. Then I hang on and relax...
Mcro going way higher. If the facts change I'll change my view.
No Clemoc
I don't actually. Anymore than Brexit has any effect on mcro's decline or subsequent rise this week. Everything comes down to company specifics..
Brexit nothing to do with mcro share price.. Everything company specific in the end.
Brexit news is an irrelevance. Shorts are exiting not accumulating. It's just the market operating and adjusting as usual.
Isn't debt down by 400 million according to the trading update. And margins up by 2% in H2 compared to H1. Evidence of a turnaround here.
The problem for Samsung is that this is going before a jury. Their expertise in patent law will be zero. There will probably be a bias against the big company vs. the university scientists. And the narrative of collaboration, promises and then dumping nano will be one that the jury will warm to.
Samsung have a lot to lose. They won't care so much about the money, but a decision against them could impact their display trajectory, which is why they want display dropped imo.
In a way, the trial has already begun, as nano has already persuaded independent lawyers of its case and funders to run the risk. They don't do this lightly.
On the balance of probabilities is what the jury will be guided towards. And we all know that on the balance of probabilities nano were ripped off by Samsung. High stakes here and those 12 Texans will be of concern for sure.
I agree that if Samsung's case is only on the validity of the patents and they have accepted they have used them then they're are in deep trouble. They always maintained that they had developed their own production methods or had relied on the existing hot injection reactors. If this is false then that Texan jury isn't going to be impressed.
To say that millions committed and top lawyers appointed without checking the validity of the patents is nonsense.
ME's only achievement was to spot the potential of nanoco and push for the spin out and incorporation etc. I'm afraid all of his strategic aims have resulted in failure. In any top company he would have gone years ago...
Of course the patents are valid. That's the first thing the lawyers would check.
If they weren't valid, why all the pretence with Hansol et al.
Samsung led Nano a merry dance and promised them and Dow exclusive production etc. Then they decided to go it alone and dumped both of them.
Thanks God ME has gone! Should have done so years ago. Very timely share sales over the years.
As for dropping Samsung display from the litigation, why agree. They are asking for something for nothing in return.
The whole organisation was complicit in this deceit. You can't say display were not surprised by the last minute switch ..
CFQD's are the basis of Samsung's future in display..
Lot's at stake here now.
Even with the conversion of the bonds, UGC only have 24%. With the loss of Fortiana their total votes are actually less than at the last vote. Around 35%. That's not enough to win unless they have persuaded other major investors to switch. But I don't see what they have to offer. Turnout with all the publicity is going to be high. People do care about their investments. The loss on the last vote was down to covid and apathy. That has changed.
I know Pavel isn't liked on these boards, but he delivered POX and he has the support of his staff. The support of the workforce is essential to further success.
Resolution 19 will probably pass. I see this as a positive. Though I seem to be in a minority.
I note Tamesis have increased their price target to 50p. This is based on gold at 1900. Their metrics are:
'At our price target of 50p the company
would be trading on a supportive EV/EBITDA of 4.7x 2021 estimates and PER of 7.2x'
A PER of 7.2 is ridiculous. The average Russian gold miner has a PER of over 15.
I also note net debt for POG has reduced to $538 million. With the conversion debt has now dropped to $459. That's going to be around .8x edibida for 2020, making refinancing the bond so much easier.
RetiredBanker,
You posted for months that the convertibles would stop the share price from going past 11p (since then it's reached 42p). Now you're saying that having converted the share price is likely to decline as the rise in value can't be justified.
I think you're wrong again. I both cases the market is fully aware of the conversion issue and has and will discount it.
Even with the conversion POG is too cheap with gold at 2000.
There may be some churn and some selling leading to a bit of volatility. Also, the rise from 24p to 42p was pretty sharp and some pullback was likely.
I disagree it will be close. UGC, Everest, Slevin have about 35%. Fortiana have sold out. 35% isn't enough, and I can't see where or how they can persuade others to vote for them. 30% didn't vote last time. The vast majority of those are probably happy with the status quo given the 300% rise in the share price over the last 12 months. Haven't seen more than 1 pi post against Pavel either. That's another 10% against UGC.
They just don't have the numbers so much more likely Pavel will be back. Though there's a good chance resolution 19 will pass imo.
Share price up 10p in last 3 weeks.
Up 350% this year.
Pog going to make lots of cash for what it's worth...
cey is growing production at 5% or so. Pog is growing production at 45%.
If it wasn't for the boardroom stuff we would probably be over 50p by now.
If gold was back at 1300 cey's share price would be back at £1. But pog would be more or less where it is today imo.
You can't sell 40% of a 1.3 billion company in a day. Maybe they will sell, but it will be managed. But why sell a good growing company. Doesn't make business sense.
Some compromise will be around the corner, I feel, whatever happens.
I don't think you can assume that just because they are Russian they will support UGC.