Member Info for ragnarlothbrok

And who is a 9% shareholder in Novo... Mr Eric Sprott. And Novo is a shareholder in Calidus, which owns the Warrawoona project, which Trident also has a royalty over. Sprott Asset Management is also a shareholder in Calidus.

The relationship with Sprott seems to be bearing some fruit! My guess is there is a few things happening in the background. There is still a lot of firepower under the SFR financing arrangement. Must be at least $A10m in available funds.

Hey TBTT, yes volatility indeed. The SP fell 66% from 120p to 40p in the space of 6 months. Ouch.

I believe the conditions of that fall have now mostly been resolved: production back on track, PGM prices are higher though chrome prices relatively flat.

I would consider buying a few more on a dip. Can't be many left though.

I can see that Fidelity doubled its position in Feb at close to the lows. Reminds me a lot of them accumulating in SLP around the 17p mark if I recall.

I've taken the bait here artrader. New position for me. Companies with a strong domestic focus, staycationing, hobbies, diy, homewares etc have been recovering strongly and should continue to do very well over the next 6 months.

ANG has revenue momentum, an industry leading position, international growth profile, a net cash balance, a strong e-commerce proposition and is on the cusp of generating some decent profits. And all at a pretty reasonable valuation of < 1x revenue. Being under £50m MCap its under-researched and hence the opportunity. The chart looks a little weak but I believe the SP will at some point over the next 12 months enjoy a re-rate as the company looks to generate a maiden profit.

Very interesting indeed TF1. These are some sizeable sums being thrown around.

Also interesting that the CEO of Crescat is also CEO of Novo Resources, which operates the Talga Talga project in WA over which Trident now owns a 1.5% NSR royalty .

The RNS regime is opaque, not enforced and there are a number of entities which do not require disclosure (e.g. foreign hedge funds I believe). Maybe it was something to do with the shares being moved between legal entities.

The Eve website confirms that Octopus Investments held 14% as at 29th May. Not sure why the same entity would be announcing this now

https://investor.evesleep.co.uk/aim-rule

Just to give an idea of the free float here, for the month of August total value traded was £756k. For the whole month. This is just 0.4% of the total market cap. I would say that this is not far off the average in the last 6 months (Feb was a spike after the results). So over the last 6 months the total turnover in shares was around 2.5%. It doesn't really get any lower than that

I couldn't find a 2019 version so using the 2018 investor relations report to see holding distribution. 93% of shares were held by a holder with at least 1m shares (ie £750,000), with only around 5% held in packets of under £750k (after 2% in treasury shares). It will have changed some since that was 2 years ago but I can only find 3 holdings RNS since then, showing new holdings for Fidelity and Maaden Invest (totaling 15%). Where they came from I don't know...

CONCLUSION: This is a highly illiquid company which will experience a marketability discount and no doubt impacts on valuation. Shares are held by a group of institutions which must be considered relatively high conviction given the difficulties they would experience in selling their shares.

http://www.tharisa.com/reporting/annual-report-2018/investor-relations-report.php

GS the stake was sold in 3 tranches over the space of the week. Old news now anyway but could explain who took up those shares given there never was a TR1 about it

7/4 13.79-12.82
9/4 12.82-11.63
11/4 11.63-0

Looks like they took Woodford/Links shares from April?? Coincidence that both numbers are 13.79%....

If so they bought right at the bottom and are sitting on a 5 bagger

https://www.lse.co.uk/rns/EVE/eve-sleep-plc-holding-in-company-5wj1tzrx5r9magc.html

https://portfolio-adviser.com/link-offloads-shares-in-ailing-woodford-company-at-around-a-penny-a-pop/

Zoom...whoa.

Up 35% after completely blowing away consensus revenue. I'll have some of that

You couldn't tell from the SP reaction but Tharisa's basket has soared over the last month, August up 20% against July and at current levels would be a record monthly high. By my calcs THS is on a 2021 EV/EBITDA of 1.2x assuming a relatively low level of production growth (ie not really incorporating Vision 2020). Bargain?

ErrHum that's some great detective work there, appreciate you sharing that! I believe they are very busy indeed.. The UK's vacation money is being funneled into DIY and home improvements and looks like it will be for the rest of the year. I just need to walk out into the street to see mattresses and fridges delivered on a daily basis

Been hoovering these up over the last couple of weeks. Took a while to build a position, seems like very few shares around.£12m revenue from H1 with consensus for £20m for the full year (which I can see them easily beating) and on a £12m MCap which is covered by a large cash balance. Couldn't resist!

Looks interesting... MTR has added bauxite to its commodity interests. The speed with which MTR are reinvesting new funds suggest MM thinks we are in a commodity bull run

https://www.asx.com.au/asxpdf/20200831/pdf/44m41v8rx4sg6q.pdf

...but thats interesting

"The law firm Linklaters said this week that all of its 5,300 staff could spend up to 50% of their time working remotely from now on"

https://www.bbc.co.uk/news/business-53968213

I'm guessing funds repositioning. We've already seen a chunk change hands this week. Its been pretty hard to buy all day so I think there's some buy and sell action

Forest you will need to employ someone soon to keep up with all this news

I'm not sure if anyone has noticed the shift in LOOP's recently language about moving customers to a fixed subscription pricing model rather than variable usage. Ironically the market values lower fixed subscription revenue higher than its does higher variable usage cost and could pave the way for LOOP to start reporting some ARR like Pexip does.

LOOP mentioned on the investor call that they would be providing some new KPIs in the half year release. ARR would be a good number and a key feature of any genuine SAAS company. Small private SAAS companies are being valued at 5-10x ARR. If LOOP can report 50% of its revenue as ARR (£30m) this would give a valuation of £150m. 10x would be double that. And companies with ARR are being bought by P/E for 10x ARR.

Worth having a read of the papers below:

https://www.saas-capital.com/blog-posts/private-saas-company-valuations-q1-2020-update/
https://www.saas-capital.com/blog-posts/private-saas-company-valuations-q2-2020-update/

PS Zoom is valued at 27x 2023 revenue and 130x 2020 revenue.

6X EBITDA for a pandemic proof tech stock. Bargain! I'm waiting for the dips but they are so brief I keep missing them.

Looks like Aberforth hoovering up loose shares. Cheeky devils. Reassuring to know that a fund is accumulating, despite them no doubt sitting on a huge paper loss

Looks like the gas market is getting pretty edgy in the US.

https://www.tradingview.com/symbols/CURRENCYCOM-NATURALGAS/

https://oilprice.com/Energy/Energy-General/US-Natural-Gas-Power-Generation-Hits-Record.html