Member Info for ragnarlothbrok

Pt hit $900 intraday today. I had to look 2 or 3 times to be sure. Highest level since June 2018.

And I see that Eskom has been keeping the lights on for the last 2 weeks...just...with a lot of diesel

Eish that was based on a dummy trade - at one point it was a clear 2p.

A lot of words in there like 'may' and 'potential' but I get your point, an opportunity like this is better than no opportunity.

Fortunately this opportunity will be easy to assess given the UK discloses its revenue separately. UK revenue has been absolutely flat for the last 3 years at 0.85/0.88/0.86 so this should help push it upwards.

In hindsight the announcement today was pretty watery, the revenue opportunity isn't clear at all as they have just been granted access to a panel. Probably fair that the SP ended up back where we started. i hope those who bought into the spike today have a long term outlook. The spread is nuts. I know its a micro cap but 20% is outrageous considering the free float is pretty reasonable.

I picked up a few of these on the recent City Financial drop, after having my eye on this for a while. I would like a few more but the spread is 20%. I think I'll wait until it settles down.

I don't think we are sure what is the revenue implication of the news today if any? I think they are saying it could be nothing but they seem hopeful that it's good news over the medium term.

The Q319 basket was up 9% v Q219 and 12% v Q318. For the month of March the basket was up 12%, the largest MoM increase for many years. Currently the basket is 6% off the high from last month, I would say that's a healthy correction after some very strong gains.

The rand has bounced back after Moody's didn't downgrade South Africa's credit rating, catching many by surprise, including me.

https://businesstech.co.za/news/finance/308604/what-moodys-thinks-about-eskom-the-elections-and-the-economy/

5C you're quoting half year numbers, the half where Game actually makes money. In H2 this unwinds: H218 was an EBITDA loss of 11.1m and H217 15.3m loss. The full year story is FY18: £10.1 and FY17: £8m and EBTDA margin of 1%. Can't get any lower than that really can it?

The areas in gaming that are growing are digital, mobile and online, all areas where Game lacks any penetration. Despite growth in the industry, Game H119 GTV was lower than H118 and H117. A decline in the face of industry growth.

FiveCandles the question was how is Game doing now compared to 'a few years back'.

They have made progress since last year no doubt, mostly around whittling away at costs. Despite this progress each reporting period sees future earnings estimates being downgraded (refer below URL, although given the shrinking market cap I think coverage is now confined to Edison). But the SP speaks for itself, not far off the post IPO low and lower than any period you choose.

https://www.marketscreener.com/GAME-DIGITAL-PLC-16646168/revisions/

Shalamar, the company has been in a perpetual state of decline for 5 years since the IPO: as seen clearly from the SP, down 87% from the IPO price of 200p and EBITDA, down from £51m in 2014 to £10m.

The company's pledge to build a sustainable business through shifting reliance from the console cycle to digital content has not happened; content share of revenue is still the same at around 45% as it was in 2014.

They sold half of Belong for £3.5m, doesn't display much confidence in the idea does it? SD does not need to buy Game to roll out Belong in its stores, they already agreed to do that under the Collaboration Agreement. They are well behind on their roll out plan for Belong because they dont know the best configuration to make it work yet.

I hold some of these because I think it's a free option on the Belong idea, the network of users must be worth something and I think the liquidation value is not too far from the current SP. I got lucky and managed to sell most on the spike to the 50s but still have a few, so I hope you are right that Game will be taken out, but to say that they are doing well is simply not true. Check the progress since the 2014 annual report:

http://www.gamedigitalplc.com/~/media/Files/G/Game-Corp-V2/documents/results-reports-presentations/2014/game-ara-14-v2.pdf

FK1 in theory yes. Despite it being rampant almost no one gets caught. The FCA itself admits this. Do you believe that only 12 people were inside dealing over 5 years?

https://www.independent.co.uk/news/business/news/fca-city-london-insider-trading-convictions-five-years-financial-conduct-authority-a8167486.html

L2analyst this is a snapshot of the cash balance, after the peak sales season. The cash balance will be much lower at other times of the year and I believe will steadily reduce after January as suppliers are paid and sales are lower. Look at the payables balance at 31 jan and the ongoing net working capital deficit.

Sports Direct already owns 50% of Belong. They purchased this for £3.5m last year. I doubt they or anyone is interested in taking out the Game retail estate so why would they pay 45p for the remaining 50% of Belong when they paid £3.5m for the first 50%?

I guess one reason would be the cash balance. Game has gone bust several times, the most recent time because suppliers stopped providing Game with products after insurers refused to provide credit insurance, due to Game's precarious financial position. I believe that a large cash balance is required to insure their supply chain and for this reason hasn't been used to buy back shares, despite a deep discount to NTA.

I've wondered over the last couple of years why Game continues to require such a large balance and maintains what seems to be an excessive amount of available debt liquidity. I would have thought Eliot would have campaigned to do take advantage of this liquidity and be more activist, but they couldn't wait to wash their hands.

SD has much greater financial clout to insure the supply chain and could potentially release some of this cash. But do they really want Game's legacy retail estate?

Noel, yes. Anyone that acts on inside information to make a profit is inside dealing. But its rife and almost impossible to prevent.

Taken some punishment over the last few days, with consensus being its a technical correction, with potential for further upside but expect some volatility.

https://www.heraeus.com/media/media/hpm/doc_hpm/precious_metal_update/en_6/Appraisal_20190401.pdf

Volume really been ramping up in SLP recently...

The first offer was for the entire share capital of IOG for £26.6m. By my rough calculations if they plan on issuing 165m shares the equivalent offer would fall to 16p/share.

This has become incredibly messy. I would be happy for RRE to walk away and look for some other assets rather than get dragged into this.

I think that's sensible Visitor. Many people are sitting on big gains heading into the end of the tax year and are taking the opportunity to realise profits.

I would never discount the possibility of shorting it if you believe South Africa is on the verge of crisis but I think there is lower hanging fruit if you want to make that play. I'm struggling to see any other motive?

Q3 results will be very important to see how we weather the power issues. Not only from the SDOs but also for indicating how Samancor handles its own plants to provide sufficient primary feed. Power prices also went up quite a lot recently which will add to the cost pressure.

Hey Dartron, I read that one reason for the sharp sell off was Q3 Fedex results being below expectations. Fedex is seen as a proxy for global package volumes. Smurfit and Mondi both had similar movements over the same period (and also appear to be partially recovering now) so it doesn't seem to be anything company specific.

Theres not a huge level of shorting going on and I don't think its manipulation, just a sector response to some market news.

http://investors.fedex.com/news-and-events/investor-news/news-release-details/2019/FedEx-Corp-Reports-Third-Quarter-Results/default.aspx

DGOC dong what they do best and continuing to add more wells and production, further enhancing EPS. 19% increase in pro forma FCF (& dividend?) per share.

"Transaction positions DGO for a main market premium listing and with a market capitalization well within the FTSE 250"

Good to some SP movement here, a little disappointing that they couldn't get the raise out at a premium though

Its all getting a bit emotional over there

Thats good news today as well. The company is taking steps to improve its corporate governance. Can't find any fault in that

They are paid directors fees