The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Speculation only...
MFT Capital bought 23.9m shares in Jun23 in one block. Possible they have sold out in a similar way? - The 2 "sells" maybe a negotiated transfer of that stake, one sell and one buy for the block.
MFT Capital is a holding company for subsidiaries that operate the Flip Out trampoline parks
This shows AMTE strategy of start small and build up is eminently sensible for this economic climate. I'd hate to see BritishVolt's plan go pop, and really hope it doesn't, but it is ambitious and you need to have everything lined up to make something of that scale that happen, with levels of fallback. AMTE's more cautious, though still ambitious, approach is more likely to succeed, but still difficult times.
We pretty much know what the results for the first half will look like from the trading update 10-Aug, revenue £76m, earnings £24m +/- whatever the accountants move around. And we also know commodity (PGM &Cu) prices have fallen a little from there.
Now that the Inyoni upgrades have settled in, we expect the 40-44k Oz rate to be being hit consistently, albeit load shedding and power prices may hit the cost/oz. The interest for me will be around how well they have got Roan working in the Southern half of Zambia, and what progress is being made with the Northern strategy. So we need to see that targets…
“ Targeted production of 3700 tonnes of copper to December 2022 and 10 000 tonnes of copper for the full twelve-month period ending June 2023 (4-fold increase in copper production) ”
… are being achieved and what is the progress the Cobalt circuit there. 3-4 months in, I’d hope to see some figures backing that up. And also like to hear more of strategy on the North. The Caerus JV, which always looked a distraction anyway, is off the table now, so Leon’s focus will be sharply on Zambia. Cu prices are off the highs, but the world demand for copper can only grow, so Leon is in the right place at the right time, just need to ride the storm, and carry on along Jubilee way.
RNS says know of no reason. If ACAM are redeeming loans notes you would have hoped they would have informed AW, only polite. Given the volume it certainly looks like that is the situation.
Also featured on the Sunday Roast PR podcast...
https://www.thesundayroast.net/podcast/episode/50fbfd73/s4-ep37-the-sunday-roast-featuring-eric-leire-ceo-of-genflow-biosciences-lsegenf
I don't think the UK imports a great deal of platinum and palladium from anywhere to be fair, so that's more symbolic. If the EU, with its auto industry, goes the same way, then there maybe some adjustment in prices. An outright embargo would be better for SA trade. But I imagine the big buyer is China, and they are totally non-commital on any Russian sanctions. So can't see this moving the needle.
I'm still very confident on BEN, the imminent good news pipe, as Penstock has it, is full to bursting and few RND drops out of that will raise the sentiment again. It won't all happen on time perhaps, and somethings may not go exactly to plan, but the the sheer volume of opportunities can not be denied.
A drop today is a nice place to add, so I've had another 10k below 87.
Interesting but unsurprising article on battery shortages in immediate future. In a growing market every producer should be able to benefit from this and AMTE has some good partnerships and near term products to do well from this.
https://www.wsj.com/articles/rivian-ceo-warns-of-looming-electric-vehicle-battery-shortage-11650276000
As much as we would like the share price here to rocket next week, the market is reasonably pricing what JLP is now. £370m’ish EV is over 2x revenue and PE of 12’ish – reasonable valuation.
Of course, we know it will be worth far more this time next year, but that only crystallises into share price either when there are meaningful results or news, or there is a sustained shift in the value of the product, metal prices, or there is a sudden uplift of sentiment, tips or speculation.
Sometimes we just have to be patient. News will come, metal prices will rise or fall as they will, and sentiment will build as investors buy into the Jubilee story. I’m convinced that we have cracking future fundamentals, great IP, strong leadership, growing market and I’m still adding to my position at these levels fully expecting to be 50-100% up in 12m.
I'm rather sceptical that ACAM will end up as a strategic holder. The RNS this morning basically shows that they have 209m shares which was the conversion of the $7.8m. So all the shares they converted in Jan21 (88m for converting $2.5m of debt and interest then) they have already sold off. Hence not a great deal of confidence that they will hold on.
And damn sure they'll want to make extra arrangements like that, why wouldn't you?! A loan with interest, plus option to convert is basically a no-lose game - unless JLP goes bust they get paid the loan plus interest, but they also benefit 100% if the share price rises and they elect to convert (plus conversion of interest to shares at same price) rather than be repaid. I tell you, I'd like some of that action!!
ACAM also took a similar arrangement with BEN not so long ago, which I was critical about.
I made a couple of large purchases this morning, both of which were quoted nearer the sell rate than the buy rate at the time. So I'm maybe thinking, the buys are going through at supressed rates as the market has a lot of shares to sell? That could hold the share price back a bit if ACAM are selling down some/all of that conversion, but fundamentally JLP is still undervalued so I'm happy to top up more at this level.
There's little else going up in the market now, save a few odd shares jumping on good news, but principally non-Russian miners and oilers are the game in town for the present. So I think we will continue to see upward momentum trades, bolstered by increased commodities prices whilst they continue. So the short term story still looks up and up. How far I think it more determinant on when that sentiment swings the other way, but a few good news releases from Adam will certainly help to underpin any rises and negate slipbacks.
I've been in since 12p and topped up through 20's, 30's, 40's 50's and 60's but haven't for 70/80's yet. I've sold some other holdings but keeping that in cash for the time being - the whole market is just so unstable.
What an appalling financing arrangement! Short term, well below market value, stupidly high interest rate for current climate, and interest paid in more loan notes so compounding interest at Amigo (substitute you favourite high street loan shark) effective interest rates. Absolutely frightful and smacks of back handers I'm afraid. CFO should be forced to resign and I'll be voting against reelection of any of the directors who have supported this. They could have done a lot, lot better than this!!! Still believe in the prospect here, and I have have a six figure holding, but that is shocking.