focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
(And I know I post a lot of dross on here when I'm bored, but please read the speaker list for this event... it's Ed, it's Lorne, it's Northern Leaf, it's the whole damn gang. If there was any shred of reality in my earlier comment ~ "it feels like they're being suspiciously quiet till they've sorted their own shares out, then will bring in the real investors"... then I think this is a sign of when they might start bringing in those investors!)
Dear friends - I'd like to invite you all to a party! RSVP and see you there. (Bring presents.)
https://www.lsegissuerservices.com/spark/cannabis-capital-markets-forum-2021
Longlad - I don't wear a tin foil hat, but it does seem like it's in someone's interest to keep the share price low at the moment. Reap mentions Lorne's position at Yooma and investment in SEED. We know Ed doesn't have any shares, but wants some. Am I right in the thinking there has been no declaration to say he has share options?? Why not? Surely that would be normal, not seen as insider trading. Jim Mellon appears to be shifting a holding from under his name to under his umbrella. And all the while, there seems to be very little effort put into publicising the fund. In fact, a name change without a campaign behind it is practically a disguise. The interviews Ed has done have probably downplayed things - we all heard him correct the comment on Leap's sale from "next month" to "over the coming months in future". I didn't post the Iggy Pop track for nothing, yesterday!
I think all the NEDs will bring in some investor friends of theirs as soon as the share-holding musical chairs has been played out by all the friends that sit across this group of investments. HUGE POTENTIAL HERE SOON, but maybe not today. (All made up entirely.)
There have been some pretty weird trades today, stretching the spread on thin volumes. I can't fathom it, but I also wouldn't be surprised to see a big UT buy go through this evening. If someone's shifting holdings around, ahead of the Yooma listing, they'd be cutting it tight to leave it till Monday...
I think we might see 8.9p a while longer. From what I can tell using dummy quotes, there's still about £10k's worth of sales up for grabs at 8.8999p and another £20k at 8.99p. I don't understand who would be selling, unless it is some Mellon flavoured transfer via an open market for tax reasons. (If he expects the price to soar, is it more tax efficient in a holding company - even if he loses on the spread by transferring it...??)
Does anyone have any recent NAV workings that reflect developments in the last quarter? I can start putting together some drafts, but a head-start from someone would be handy.
Sadly, SEED only have £600k of loan notes in Northern Leaf, out of a total of £14m. It's a really good investment, but it was so oversubscribed that nobody got as much of the pie as they wanted... (I think, anyway. Could have mis-read that somewhere.)
Whuuuut?! I thought I was invested here to help people get high, but now we're curing lung cancer at the same time? (Yes, I should do more research, but I'd already seen sufficient potential in the assets I'm more familiar with...) I was at Oxford when I started smoking, so it's good to see them taking some responsibility for the consequences too!!
@ Dapr re. Seller.
Yes - I agree it's high time they stop capping SP movements! On the other hand, if said Seller is reading this, I'd also like to say a huge thank you for the opportunity over the last week to absolutely tank up on SEED. There were a lot of companies in my portfolio that I think will do really well, but I've been happy to find not-too-inconvenient times to sell them off and consolidate here... because I think by Christmas there'll be buns for tea!! GLA.
*** Epilogue. Right... well that makes sense of it. The late reported trades show as 17:15 on google, but 13:18 here. As before, no clue myself, just a personal suspicion a certain Mellon might be involved...
04-Aug-21 13:18:52 129.00 85,000 Buy* 122.00 130.00 109.65k O
04-Aug-21 13:19:00 129.00 85,000 Buy* 122.00 130.00 109.65k O
04-Aug-21 13:19:00 129.00 85,000 Buy* 122.00 130.00 109.65k O
04-Aug-21 16:39:43 123.00 10,000 Sell* 122.00 130.00 12.30k O
04-Aug-21 16:39:08 123.00 10,000 Sell* 122.00 130.00 12.30k O
04-Aug-21 16:39:08 123.00 10,000 Sell* 122.00 130.00 12.30k O
** Ok, well the sells have apparently disappeared. There were 3x 10k share sales at 16:39 @ 123p. You can see these if you google LSE:IES and look at the overview close @123p. If you drill into google's detailed report, showing the volume of each trade... then suddenly they're gone and the SP @129p (??) and last trades at 16:21. All beyond my ken, but if anyone has done a Poirot on the problem, please pass it on....
All good stuff re. investment funds and capital developments / yield. Excerpt below from the section re. IPO:
"As matters presently stand, we have formally appointed our brokers and financial advisor, finnCap, the leading
small cap investment house, and highly experienced cannabis capital markets lawyers, Memery Crystal, who
have been involved in a number of the recent stock market listings in the sector. Work has commenced and we
are collaborating with the finnCap team on the forecasts, model, valuation and being advised as to the optimal
timing to give the best valuation and chance of a successful IPO for Northern Leaf.
Earlier this year there was a surge of interest in cannabis stocks. This led to several companies being listed that,
in our view, were not really ready for this public transition and, after an initial uplift in the share price, the
majority have sunk back as the reality of listing before they were ready, kicked in.
A successful IPO is based not just on listing the company, but also in being in the strongest possible position post
listing in order to deliver on operational targets and drive share price in the aftermarket. Accordingly, the timing
to affect a successful IPO will be based around operational execution and market timing, we remain in constant
dialogue with our financial advisors around these issues. We have also taken market soundings from prospective
institutional investors and some of our CLN holders, we are therefore, very aware that being revenue generating
and having our European accreditations, will make us stand out from the crowd, attain a premium cannabis
company status and attract better, larger blue-chip institutions to the shareholder base at the time of an IPO.
We will only list when the market conditions and Northern Leaf’s operations make it prudent to do so. In the
meantime, our oversubscribed placing in March affords us the rare financial flexibility to make sure that we get
the timing right.
Ahead of any IPO we are putting together an experienced Board of Directors, along with a first-class Advisory
Board consisting of experienced medical and industry professionals. We want to get these important
appointments right and are already in discussions with a number of parties. We have identified a highly
experienced PLC Chairman, well known to many institutional investors. He is Jersey based and currently working
with us as a consultant to position ourselves as a leading European listed, quality medicinal cannabis company."
It almost looks as though those cancelled trades yesterday were put through at close, purely to throw off the algorithm this morning - with someone knowing that the spread would narrow and all trades would look like sells from rats jumping ship - whereas all but three trades were buys. Less than £7k of published sales. I think there are a few left at 8.78p but not many. Earlier on, Halifax were quoting me 8.5874p to buy £7.5k or if I split it into £5k and £2.5k they'd do both at 8.5800p. Thought that was a bit odd.
It'll definitely involve Chrystal Cap, as they were doing the fundraising. It makes sense that they essentially underwrote the raise with Verdite... or it would make sense if there were any cash in Verdite. I don't know that there isn't any, but I know Chrystal still wanted to have a private chat with me a couple of weeks after I said I wouldn't invest directly in Yooma because I thought FFWD was sat at a greater discount. I wonder if that was to put into Verdite. (I told them I'd spent all my money on FFWD / vanadium based products, and weirdly they went quiet!)
Come on... pin the tail on the donkey (bull in this case). Where will we finish tomorrow, now that people are starting to wake up to what SEED actually is?! I want to be bang on at 14.4p and I'm craving some friendly competition.