The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Tygra - I feel your frustration but I do understand what Mac’s saying here (even if I’m not quite as relaxed). It’s not that Artem was brought in and now they need KPMG’s help; the two were enlisted at the same time - it’s just that we didn’t know about KPMG until today. It’s a good sign in my view, although I’m not as confident as some that a deal is imminent.
Spoken to John Meyer - he’s clarified that the words in the SP Angel Morning View and “particularly the conclusion” are just his opinion, nothing more.
Personally I don’t see how he could offer that opinion with his detailed knowledge of the company without it having at least some truth - even if just an intention more than a formed strategy. Honestly I don’t know, but I made clear that it’s fairly obvious that information like that should be RNS’d by the company. The mind boggles at how it’s thought that putting that info out in an analyst report, by the same company that’s acting as the NOMAD, is acceptable…
Hi, apologies if this info is out there and I’ve missed it - does anyone know if there’s a web link or anything that the AGM will be streamed on? I’m out of the country but would like to join online if possible…
Can I just say, I filtered Kira (the screaming banshee as Tilly very eloquently and accurately puts it) a few days back and reading this board is much more pleasant since… Highly recommend everyone does the same.
What a load of ****. Sirius minerals was bought out at a discount because it failed to raise financing for the mine. EUA already has one operational site and a finance agreement in place for another. Total unsubstantiated bull****...
Only passive small cap tracker funds will be selling - had a quick tot up this morning and I reckon it totals just shy of 15m shares at most, roughly equivalent to a day’s volume at the minute.
Other actively managed funds will be free to retain their stakes, and BR holds a further 30m+ shares in these.
The stock exchange has it listed as a Non Price Forming trade, ie it doesn’t contribute to the share price calculation. Possibly therefore a technical trade - a Bed and ISA maybe, or a fund moving shares from one account to another.
Possibly a short closing - will have to see when the figures get updated tomorrow. If so that’d explain the trade being listed as a BENC (benchmark price - average for the day) as it’d take time to buy back all the loaned shares… However I’d expect the trade price to be listed as the same in each line if that were the case.
The LSE has these small double digit trades marked as Protected Portfolio trades. Someone with more knowledge than I might be able to explain better but this is what ADVFN has to say about them:
'P' Protected Portfolio
A protected portfolio transaction or, if reporting a trade resulting from a worked principal agreement for a portfolio transaction. Like a non-protected portfolio, but the price dealt at can be amended if the market maker manages to make a 'good' profit.
Forgive me Kira but for somebody in a comfortable financial situation you seem extremely twitchy over the price of a share you only hold a few of in a SIPP…
Could there be something you aren’t telling us?
You aren’t having any impact on anyone here - do everyone a favour and duck off…
Volume today was low compared to the three month average of 41m but higher than your average day prior to Russia deciding to bomb the **** out of Ukraine for no good reason… I personally don’t read too much into the volume - high numbers can mean incoming news but EUA isn’t known for leaks in advance of RNS’ (such as other companies like PREM where the volume pretty much triples in the day or two before an RNS) so it’s not a reliable indicator.
Maybe traders / investors who sold out before the war are just happy piling in a bit again now given Putin didn’t escalate the war yesterday. They also know news is due, to use Eurasia’s terminology, on multiple fronts - and that the AGM should be coming up in the next 6 weeks or so and people are expecting positive news.
Agreed - the timescale and the splitting of license areas into different subsidiaries points to a more complex deal with multiple parties involved for mining, offtake, financing, etc. Looking forward to hearing more at or before the AGM... Sadly I'm not in the UK at the moment so I won't be able to attend but I'm hoping in the age of Covid for a live stream available to investors.
Given it lots of thought, haven't come up with any firm conclusions!
Closest to sensible idea I can come up with (I know other people have also floated this, can't remember who) is that the intention is / was to sell the companies to two consortiums with off take agreements for the different people who want the different metals. Seems to make sense to me given the variety of stuff in the ground... Also fits in with people from Russia, China, Japan and South Africa all being involved in the M&A process.
However whether this has now changed is anybody's guess until we get that long awaited RNS...