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Looks like they picked up 100k shares tops today if that was Shard with the buy practically on the bell. They're well ahead of schedule and under budget on the buyback, they're gonna slow it down and try and pick more of them up around these prices. Bore the traders out
I doubt it's anything more sinister than the typical by the rumour sell the news type thing Reefles. Blows my mind why anybody would be selling at these prices, maybe the brokers are just doing a good job buying back and not letting it rip
I think the investing genius was right, this kicks on to 5-6p as the buyback finishes. That's where it should be pre next investment for me
Riverboat sounds like a cool dream Reefles. I like it. I'm cheering you on for that! We both need Seed to give us that right price to leave it, 8p sounds good. Will need something to get us excited about before we see it
The point you make Reefles about the shareholders being stiffed over on the NL IPO do kind of prove the point that having cash right now has the potential to be brilliant for Seed. They're having to raise cash at quite a lot less than the last valuation that they had, there are going to be other companies out there doing the same thing.
Seed have; even excluding the buyback money, something like 40% of the NAV in cash. It's shopping basket time, my anticipation levels are pretty high right now... Of course maybe I'm just being prepped for the next disappointment but £6m is probably buying them today what £14m bought them just a year ago.
I've seen nothing but stories of sorrow in markets right now. Seed themselves with Leap, SWB and now NL where they're taking bun business deals or onerous debt and equity terms to keep going. Having 40% of the NAV to be able to get some of these deals themselves; for us, feels like something to be excited about.
Traders moving on to HZM, what a story that one is! I watched a snippet of an interview yesterday where ex-Glencore fella talks about how they pounce on the failing junior miners. It's a brutal business world as we've seen here with Leap and SWB.
500k+ a day shares and the buyback is done by the start of December. Average good so far, I'm hoping they can keep picking them up under 4p but this'll probably kick on towards the end of the month and they end up a bit short of the 21m by the time the £850k is gone.
Yeah looks like I have too much credit to the original comment. Sorry Paul
Could do with some more brains there Paul. There will likely need to be an equity component of any funding they do to stick to gearing requirements. This funding will be so expensive they'll likely want to stick to the original funding terms so as to not have aadditional expensive renegotiations. SP is significant and the market knows it better than you do it seems.
This isn't lending your mate a few quid to help his business. In serious corporate lending and investing you drive that knife in and then get the absolute best deal you can when you are the one in the driving seat. Your shareholders are the ones that you work for not theirs.
That's a pretty gross simplification of things gold investor. Have you read the details on the debts and when they have to start paying that stuff back? Not only do they seem to need at least $200m, they're also obliged to start paying the debts off in March and obliged to keep a certain gearing ratio which they can't keep.
I called a mate today and said that this is the saddest stock story I've ever seen (Sirius was before my time). Things aren't quite as simple as NPVs right now.
If they're going to release an RNS every single day for the shares that they buy it's going to cost them a fortune!
The thing that always surprises me with him is that he targets the same few stocks, eventually people are going to notice.
Wow, Qu1nt really is a banned word. Lol
*****
You get banned again Midas 😂
Can't get a username to last you more than a few days now. The video is nice to be the sort of thing I would show somebody who didn't understand the fund what Seed is.
There is definitely scenario in the future when that 50 million pound ramp is all people will ever remember Ed for, I think he knows it too. Look at Gaming Realms and how well they're doing right now, does seem that Seed genuinely got shafted on Leap by a bigger smarter prepared partner. Leap is one people can't say was a mates rates deal.
That is a big reason why I'm a fan of the current investment strategy, take smaller stakes in companies that they can help along the way without that potential to get taken for a ride.
The scenario does exist Kingsley where NAV level SP happens, but it'd be a few years in the making if ever
I've been here for a good couple years now Kingsley, obviously some of the other posters a lot longer. You're a breath of fresh air here in the sense that as a newcomer you understand and convey well what the opportunity is today, but you're not ramptastic about it.
Look at the results and the accounting of those costs Bagman. More of them than this board tends to give credit for are things that are not wages.
Sorry Dags, I'm not going to leave it, please understand I was not throwing you in as a basher. I was saying they're entitled to their opinion as long suffering holders and shouldn't be labelled like you did.
This is the only thing I've said to you today Dags
"Dags, Mat and Bagman are both long suffering shareholders here and you probably know it. If they want to moan a bit sometimes sure point out the good in retort, but I wouldn't label them 'bashers'"
I've said nothing disparaging to you, maybe chill out and listen to the investor presentation.
I thought they did a good job, they're very aware of the poor investor sentiment and want to improve it which hopefully appeases some hear. Like I've said a lot here recently I'm looking forward to hearing what the next investment is.
Mat, others, what do you think? New beginning or same old same old same old?
The Avextra position is still something like 12 to 15% of the NAV. They have that headway and can spread the pf risk rather than be super concentrated in one asset which as we saw with Leap can bite you.
I really want to see this company buy more assets that they've got more control in; and understand more, rather than having big portions of the NAV in things like Leap and Factom that are not in their wheelhouse.