Member Info for Sonic80

Good buying opportunity IMO.
I’ve added some more at these levels.

Market cap now £7.5m.
Cash plus ADVFN shares is £5m just on its own, which means all the exciting DeFi projects are currently only valued at £2.5m. Madness.

Can’t drop much further IMO, but can definitely go a lot higher.

Nice 50k buy late reported from Thursday lunchtime.

Lots of people quietly building positions here.

Dtd - yes, and then some.
Have a good weekend all.

https://twitter.com/blockchainboom/status/1459168517945798663?s=21

News coming…

https://cointelegraph.com/news/defi-can-be-100-times-larger-than-today-in-5-years

DeFi certainly an exciting sector to be in.

Huge growth predicted.

The Umbria bridge technology is ground-breaking.
It’s uptake seems to be spreading rapidly.
A very exciting prospect.

Does feel like it’s coiling up for another big leg up soon…

It was 35% ownership of encryptid gaming at time of initial investment, but not sure if that’s changed more recently.

About 18%

https://advfnplc.com/shareholder-info

Sister company ADVFN announced their maiden dividend this morning.

OBC own just under 20% of ADVFN, which has a market cap of around £20m, valuing OBCs holding at just under £4m.

The upcoming dividend payment will see OBC pocket around £80k, followed by around £100k per year thereafter, more if ADVFN continues to grow.

Not huge amounts, but it all adds to OBCs healthy cash pile.

It also makes a complete mockery of OBC still only being valued at £8m.

https://twitter.com/zakstraderscafe/status/1457743525269942273?s=21

90p near-term target on chart technicals as well.

2m traded in the last 4 days. Like another poster said, that’s a very large chunk of the free float. Those sorts of volumes really help set for the next leg up in share price.

OBC well positioned in a very exciting sector.
DeFi expected to grow by a factor of 10 in the next 12 months from $80b to $800b.
No other sector even comes close to that.

I completely agree. Could see a very big rise here.
£5 share price would still only be £70m market cap.

https://markets.businessinsider.com/commodities/coal-price

H1 2021 results were already spectacular, and now coal prices are another 100% up on that 6 month period.

And dividend policy is for minimum 30% free cash flow to be returned as dividend to shareholders.

Rough calculations for the effect of increased production, improved efficiency and higher oil prices on licence 61 income:

2020 (known)

Production: 1562 bopd
Ave $/barrel: $28
Revenue: $16.7m
Cost of sales: $17.45m
Gross loss: $745k
Net loss: $11.4m

2021 (projected)

Production: 2289 bopd (current)
Estimated ave $/barrel: $68 (current price $76)
Revenue: $56.8m
Cost of sales: $25.5m
Gross profit: $31.3m
Net profit: $22m (£16m)

Based on the increase in production and efficiency that was stated in recent results, coupled with the rise in the price of oil, it looks like license 61 income will swing from a small loss to a very big profit this year. 50% of that profit comes straight to PTR. If my calcs are right, then that would see PTR receive £8m net profit from license 61 in 2021. Just based on that, with a P/E ratio of 20, market cap would be £160m. And that’s not including any value for the 90% ownership of license 67. Makes a mockery of the current £35m market cap.

He’s also current chairman of Greatland Gold (GGP) so knows how to create exceptional shareholder value by developing a mining asset.
As NED for Bradda, he also reports to the chairman, who is James Mellon. James believes in the company and resources enough to hold 22% of the company shares. And if anyone is not aware of his business history then I’d suggest a quick google search to familiarise yourself.
A lot of investors are here on the strength of the board of directors at Bradda, rather than being put off by it. Their experience has created fantastic shareholder returns elsewhere and I think they will deliver that again here.

Nice new broker note...
https://sicapital.co.uk/wp-content/uploads/2021/07/IronRidge-Resources.pdf

For what it’s worth, I think it’ll end up being a lot higher. Lithium price has already doubled since the $1.5b calculations were made. Plus, as you say, it’s only from estimates of known resource drill mapping, but they still hit high grades at the margins of that mapping, so the resource extends a lot further, seemingly in all directions. I think it could turn out to be huge, and am not surprised the geology has been likened to Greenbushes in Aus.
Apologies if that all sounds a bit rampy, but I really think the Ewoyaa resource is being massively underestimated by the wider market.
Looking forward to next drill results!