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Below is the table from the OTC markets. Looks like short opened some time ago and is slowly reducing. They have 4.8m to buy back. Not an issue, but you always need to be aware that the market can move in unexpected ways when theres a shorter around! It does explain some unexpected moves though.
SHORT INTEREST
DATE SHORT INTEREST % CHANGE AVG. DAILY SHARE VOL SPLIT NEW ISSUE
04/30/2024 4,810,994 -5.51 212,905 No No
04/15/2024 5,091,372 -6.56 551,186 No No
03/28/2024 5,449,005 -9.43 440,014 No No
03/15/2024 6,016,551 -1.73 483,158 No No
02/29/2024 6,122,453 -3.20 636,544 No No
02/15/2024 6,325,110 2.73 423,695 No No
01/31/2024 6,156,863 4.69 155,562 No No
01/12/2024 5,880,925 -5.19 77,734 No No
Picked up 40k @ 45.9p. Seems a bargain given the recent news and expansion possibilities. Received a very decent 5.4p per share after withholding tax in the past year, so very happy here. It's moved into top up territory for me at a time when I have profits to take elsewhere. Jackpot!
GLA
What fact sheet? Next update expected early to mid June, as per last year?
Part of this business is generating goodwill. It's absolutely essential to operating here. The cash spent on the local environment mitigates many risks. I'm 100% behind it, plus any other initiatives to safely balance business with environment.
I reckon that may be an error of judgement. Just my opinion. This looks like it's been consolidating around 47p to 48p. The future looks very bright after yesterday's and today's RNS. Dividend same as Q1 last year, but growth accelerating IMO.
Dividend same as Q1 last year so not a drop. Guess it's a cash intensive part of the year and TBH they strike a great balance between growth and shareholder returns. Another solid quarter, but I don't expect anything else from this team!
GLA
20p seems like a bargain, so happy to top up my holding for the long haul. Still don't like the fact that they won't return anything to shareholders. However from this low point there should be a decent capital gain this year IMO.
Sam, you should not assume that the buy and sell indicators are correct. It's just an indicator if the trade executed above or below the mid point between ask and bid. There are many times with a wide spread where trades are incorrectly shown.
Certainly a lot better than the last month. Maybe they stepped up their buys when the share price was lower, leaving lower funds for the rest of the buy back period?
Oil price fallen back a bit, but healthy at $84 ish. Looking forward to update next week.
The raft of director buys at around £1 are a good indication this is oversold. I started buying at around 103p, and have build most of my position slowly over the last month.
Anyone know when the next NAV update is? Just building a position here at a great entry point.
I'd be happy if any top ups over the Base dividend were diverted into buy backs. As long as they don't simply buy back regardless of share price.
There are times when buy backs are very good value, and times when they are poor value.
I do get the 45% tax issue. However, as mine are in SIPP and ISAs I only lose the 15% tax against the buy back option to return capital.
Buy backs are not my real issue, I like them. I also like the company retaining cash in this volatile financial environment as they face a few risks that could need short term contingency funds. Suggesting they should reduce their contingency funds is not sensible IMO.
I tend to disagree with you GGG. This would be around 4p ps capital return. Far better to have contingency against the risks that exist, and to underwrite the 1.5c base dividend regardless.
I use this as part of my pension and a stable return of 10% minimum is important.
If they could get an RCF at less than 3% I may see your view. In the current financial climate that is unlikely.
The new Finance Director may of course not be as conservative as the current one.
We'll see.
Either was looking I'm very happy holding here. It's an easy hold and build for me.
Do you mean production or shipments? Anyway expecting the work to be flexed around barge movements as there are naturally periods of lower activity with a relatively long round trip.
Brent almost touching $90. Will be interesting where it closes tonight.
GLA