Member Info for SEA7

the sock man cometh!!

hTTps://www.thisismoney.co.uk/money/news/article-1576761/Put-a-sock-in-it-Pex-boss-tells-staff.html

Socks on the rocks is the sad story at Leicester manufacturer Pex. Angry workers at Pex Sox in Earl Shilton, who have not been paid for weeks, are besieging the plant to prevent the removal of £250,000 worth of yarn.

Chief executive Andrea Cattaneo Della Volta, who has moved production abroad to Romania and China, blamed 'technical difficulties' for the delays. said the wages would be paid and put the protests down to 'sour grapes'.

.........

never changed has he

this is a classic dash for cash - people are selling equities but not moving to safe haven bonds or gold

not a good day is an understatement - it was utter s h i t e

yep - i noticed trades don't show after lunch either

and second one - how come rns aren't showing on this site

speeding ticket for block

crazy prices - just bought another 100k at 1.94p

chunky trades

1m at 2.3p and then 1.5m at 2.4p

fuse - not really - access to funds is what some need - last thing people need is another door closing, even if they are liquidating at stupid prices.

excerpts..

https://www.thestar.com.my/news/regional/2020/03/16/virus-hit-european-economies-can-breathe-easier-with-china-going-back-to-work

Nonetheless, many businesses sound a positive note as more and more Chinese workers have been back to factories, and enterprises, including foreign-funded ones, have resumed operation.
and

While Europe is experiencing a spike in caseload, the outbreak has been basically curbed in China, and more and more companies, including European ones operating in China, are resuming their industrial production in an orderly fashion.

............

Buy the pessimism, Block has cash in excess of the current mcap - can last beyond this situation, OPEC etc will come to an agreement, cuts will be in place eventually

Take a six month to 1 year view - block is a steal at these levels with no debt.

the whole market has moved into full on capitulation based on the uncertainty that is fuelling the blind panic.

https://www.ii.co.uk/analysis-commentary/aim-stocks-recession-ii510890

Gold recovery business Goldplat (LSE:GDP) is unusual in that it produces gold from waste product from mines. The company moved back into profit in the six months to December 2019 thanks to greater efficiency and the higher gold price. This led broker WH Ireland to upgrade its full year pre-tax profit forecast from £1.3 million to £2.2 million. The forecast year-end cash was also upgraded from £2 million to £2.9 million, which is two-fifths of the current market capitalisation.

At 4.05p, Goldplat is trading on 10 times prospective 2019-20 earnings and that could fall to less than four if it can achieve 2020-21 estimates. Cash will build up if this target is achieved and a return to dividend payments could be on the cards.

Uncrossing trade for 180k shares at 3p - the full offer, gives a good indicator of underlying strength of buying on the order book.

Whilst this buying has been overwhelmed by the blanket selling across all markets, we should take comfort in the fact that block is seeing support, even if it is masked by wider market moves.

looking at a stunning Q3 here and Q4 looking just as promising - the full year will be above expectations as indicated and we have good visibility over feedstock supplies.

Gold is on the up and there is no sign of any change to that.

yep jsb... oversold yesterday, pop back up today, then probably retest the lows in the coming days as lack of cooperation from oil states and virus fears continue, front and centre.

gold and cash will be king for some time to come.

Thanks all for comments! appreciated.

We could not have foreseen the carnage caused by all of this, however, block are required by market regulations to publicise price sensitive information when known, so that others cannot have the edge over other players.

Good operational progress on the ground, will be reflected in the share price sooner or later - if the market tanks and you are offered shares at a bargain, then snap em up ! and then wait.

The market is doing exactly what we expected it to do - oversell yesterday, pop back today and probably re-test the lows in the coming days (not guaranteed but likely with this virus and lack of cooperation from the oil states.)

Hi AJ

I think that Block should stick to what they can control, which is there own operational progress and leave the whole market aspect, which they have no control over alone.

Bigger picture for block is getting things online to demonstrate to the georgian govt that they are a supplier of choice for domestic gas - market shenanigans are second place to this in my view.

Block should show that they are issuing RNS's in accordance with market regs and showing that progress is still being made and that monetisation of the assets and supply lines are in line with expectations. This is our way to get good value in our shares.

The price is simply that, the price and is going to be all over the place - I just buy when it slumps due to market irrationality.

As long as they are covering costs by selling, then we have a solid company and should not concern ourselves about the market ups and downs, due to circumstances we have no control or influence over.

some signs of credit drying up is to be expected, however, this "crisis" is not in the payment and settlement systems of the banks and as such we are not looking at a lehmans moment from the perspective of the US. They are stress tested now for this exact type of scenario and are well capitalised to withstand it.

The actions of the Russians and Saudi's won't affect US shale overnight, as it has a lot of hedges in place to see it through for months at least, the impact will be felt when they try to refinance existing debts - this is where they may find issues and some going out of business.

With expected downturn in demand underway due to the virus, the unknown quantity is "how much of the existing or anticipated cuts will actually be needed and who may get left holding the bag, if they agree to set amounts, whilst US shale still pumps at full tilt.

The russians and saudis are all to well aware of the consequences of their actions - but they let them happen anyhow - so they did this on purpose.

The virus was bringing markets down - they knew that not agreeing anything would crater the markets - they could have done something - they didn't and how convenient to do it at the weekend, when markets are closed.

we may go up on news, however, it will be hitting serious resistance from the wider energy market headwinds.

Headwinds I might add, that have been allowed to happen purposely.

mcap £13m - cash in bank around £8m to £10m - puts a floor under the price at the 3p level. Anything under 3p and we are sub cash.

not much downside to block at these levels ..I added at 3.5p - and will do again.