The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I think many invested here, long or short term are now simply interested, not in the in fighting on various bb's.
But rather;
Is there any real prospect that any strategy DP will ever employ can reverse the dire SP situation, and can he ever generate one of his should've been prime objectives ...
Namely.... Any sustainable Shareholder Value.
For some, this share seems a hobby it seems true. But for most of us, we see it as an investment simple as.
In those terms however. Wether you have been here since 2019 ( like myself unfortunately) or even before. Or you are much more recent. The issue is likely now the same. Just varying degrees of high paper loss.
Share holder value, with the exception of a few Wiley (or disengenuous, depending on your view point) individuals, that in my time here pumped it then ran ...has been quite dreadful. Recently it's deteriorated further of course.
The accusation that DP has to square up to is indeed "lifestyle". He's taken around 6 Million off share holders I believe (warrents and raises). But not produced any saleable or JVable assets to date, bouncing from one to another. That's the sad fact.
All invested hope that changes, and it needs too soon.
AIM BBs are full of day traders pumping and then selling of course. Or talking a share down and buying back in etc. This one has had a handful of both in my time here & it's been fairly obvious.
This OMM character and his cohorts I at least give credit for some more in depth Am Geo talk than most. But nonetheless it's just not performed despite all the rhetoric from them.
Do I think they are a P&D crew. Well actually no. But have they been guilty of overstating the value here, the commerciality, and the timescales to achieve it. In my opinion very clearly. They are also want to be charmless and disparaging to anyone that doesn't see their way. That's also been very apparent. Calling people you have never seen or know nothing about "no nothings", " clueless" and so on.... really is a bit rich, given the progress of this SP and their predictions!
However......We, and only we are responsible for our buying here. I bought before OMM was highly visible. So don't blame him. I made two AIM miner calls in the gold space in 2019. One went great. One (here clearly), didn't. My good, my bad. I have been lucky that the 40k that's frittered away here was more than been made up by the gains on larger sums invested elsewhere. But that's just fortunate, and I know not everyone has been that lucky.
I return to the question though. Is there anything in the near future that DP can do to avoid this skirting round his resourses, can he finally concentrate on the best and make the company and the assets we invested in a marketable concern...?
If not then frankly in the business world I know, he should be duely replaced.... for repeated failing performance.... by someone who can.
Regards.
IMO, and experience. This BB has been one of the very best on AIM shares I have seen. From first reading it and then investing in late 2019/early 2020.
Some great analysts and contributers whom I respect. Too many to mention. But stand outs of course, Wasa, DJ (when he's on song and not flippy flopping ;-) ). Craig for his steadfast belief etc. Then latterly Bwana, Picked, and so on.
Kinda optimists all. But realistically based, and all happy to embrace your view. No prejudice as to if you own 25 shares, or 25 Million.... That's cool.
What's not been cool along the way, has been the Uber rampers, and petty de-derampers.
I now filter both. Have done for a while.
You mention Lawrence.... I liked his initial posts and enthusiasm. But tired of the dailycut n paste hype frankly. The other extreme has been Mr Contrarian, and before him anyone recall a really nasty character called...St Tropez.... Trying to "Blitzkrieg Bop" the share down....?
All consigned to the bin tbh.
My holding is reduced, as explained, but still 7.5 Mill to go..
And is there now longer term all being equal...
I made no bones about my dislike of the deal. But respect the views of the good guys, pro and anti nonetheless, and think even if they disagree. Respected the right to differ...?
Let's see how it pans out now.... Next week. To hold the gains will IMO be a step forward?
Cheers
.... As personally sold off 400k a few days back at 7p odd to then buy back into a couple of ISAs, assuming the SP was becalmed as it had even for months....
But hey ho. Had contingency of a couple of other shares I like very much that have I instead beefed up after this rise here. Such is life though.
I am pleased it's clawing its way back. Be interesting to see how the SP reacts once the big buyer goes quiet though. Anyone whose been around this one the last few years knows it's tendancy to spike up and retrace etc.
Be nice if something in the 8s can become the new baseline to then move up from on build news though.
I fully admit that like a few other larger holders here I wasn't chuffed with the deal level and dilution 6 months back. But I still today hold a solid core of a reduced 7.5 Mill here ( two thirds in ISAs) an an AVG of exactly 5p, and plan on keeping these to see how the build news flow pans out this fin year.
Oh btw. Hi to Luke. Great to see him back about! The de-rampers gave him totally unjustifiably, a lot of stick some time back on the journey. Can speak for all LTH that it's not been the same without his crack of dawn Nickel weather reports.... ;-)
Best response to the Looney tunes is to take advantage of this price progressivly. Assuming you believe in the potential here of course. But If you don't, that's fair enough too. Then can simply sell up if you think it's going to nose dive.
But either way, make your own calls, and don't be taken in by the agenda based posting, one way or the other....
Personally I think on balance this has legs. So have been background adding into two share dealing and two ISA accounts bit by bit over last 18 months odd.
Currently hold 920k. My average is still in the mid 30s. But been managing it down. My target review of on the ground progress is now 2 Qs away from initial investing points end of 2020 odd.
I set that review target date as a point to properly look at the turnaround status. Am sticking to it.
I will see by start of Q4 2022 just how far down the road we are, and how many bumps avoided and how many hit by then.
Trade it or invest in it. Many approaches. But believe nothing written on a BB on face value without your own input has to be the way IMO.
Cheers
As it always seems the way on AIM shares. The spread quoted isn't really a true picture from the way the MMs are managing it.
Today all reporting as Sells. When in fact most all are likely Buys fyi.
I know this, as bought another 300k this morning at 4.19p that was just under the mid (4.00 to 4.40). So registering as a Sell. But it's a Buy.
I strongly suspect therefore that all "Sells" this morning around 4.18-19p are likewise Buys.....
Not saying any real conspiracy. Just that it's a bit daft in this day and age that Sells & Buys can't be reported as such. Rather than guessed relative to the often highly misleading spread that's chosen to be top quoted.
Hey ho...But then again. I suppose the MMs like it that way... For whatever reason. So it's not going to change anytime soon one very much suspects.....
That's me now fully ISA'd and holding amongst others 4 Million now from here. As a LTH in general... happy to sit it out on news tbh.
Cheers.
Bully for you Slurms....
Brief enough?
Nice to see a small releasing of the shackles here. A 6% odd rise, in itself is nothing special tbf. But after 6 months or so, to break above the finance price is nice do agree.
Some silly stuff on the back of it written on here though.... It's hardly a position to gloat on when way before the deal some of us had (and rejected...) Sales of million plus shares at 9.98p on offer...
Anyhow. It's mildly annoying personally, as sold off 400k a couple of trading days ago to ISA them, still expecting the share to flat line for a fair while. Funds available tomorrow looks like ...
But have other tempting options if this stays up now, and as said at the time. It's a risk you take nonetheless, but have contingencies.
Overall though, I would rather have 7.5 Mill shares on a rising wave though, than 7.9 Mill beached, as it was.
So all good.
But please, AIM shares bounces tens of % in a day. A 6% rise that's still way below the past peak, simply needs a comfortable nod. Not trumpeting, from some.... that anyone less than enamoured with the deal, and so diversified some elsewhere ...should hang their head.... Weak comments to be honest...
This BB was once better than that!
Gla.
Read like a good briefing. Some positive views and a better performance. Nice clarification on the costing of the Ore Sorter etc.
SP much as it was. But then I think it's quite clear that we need a few of the promised monthly updates to prove the numbers. After that, and assuming good linear progress, here is certainly good margins in the current price to move up.
Therefore I continue to add a bit here and there to my core holding.
As to MB. He is quite odd. 4 posts and counting to tell us about a 100k Sell after the call yesterday.... By my reckoning at least a similar value of buys to balance it. So what, people sell and buy.....
So his multiple emphasis on a sell can only backup his changing position and personal interest in holding this down now. Else ...
why even mention it.....
Game Keeper turned Poacher .... More tedious recruits to the Looney squad no doubt. One for the bin shortly (pun intended!)....
Cheers.
Not really a mystery, at least some highlighted...
The 400k sell was mine. It generated £27k. I have two ISA's to fill. Have already auto B& ISA'd £10k in other shares. Plus £3k added from other funds.
I held 2.9 Mill HZM just in a trading acc. Now 2.5 Mill. With a low avg (3.69p), sale of 400k shares gets me the 27k to invest here, if it drops, or in one of the other strong gainers I feel I hold & that I already major on, if not.... Pretty simple.
Fully accept big players (corps & big ticket PI's), may be divesting still, given the dilutive deal that many of us were not enamoured with, & as such clearly pushing back the likely gains somewhat.
But at ISA start time....
Some explanations hold no conspiracy tbh....
Still holding 7.5 mill @5p bang on, even with no reinvest, and still hoping....
For that great Leap forward... Will hold these these fin year to see how it pans. That's the plan.
Full disclosure, and regards.
As a LTH of both Horizonte, but also decades of Punky records....
Anyone remember The Tribe Of Toffs....
"John Kettley is a Weatherman, and so is Michael Fish!"...
Sorry couldn't resist given this thread detail.... :-s
Still here though, still "Waiting for the Great Leap Forwards"..... Now that is/was a truly great song from good old Billy....
Have a good day measuring your inches all..... ;-)
Hi Kutzz.
Nice to hear from you. Hope ORR has picked up?
As to Rock. I posted exactly my thoughts a little while back. See post on about 23/3 if interested....
Not going to go over all that again. The WhiteSuitGuy has repeated it to death recently, and it's a bore....
Yep it's depressing. But as in my last post. The CEO here must pick something and prove it up. The longer he dances around the candidates the move your accusation is proven.
I actually had 40k in here at over 2 from 2019... So worse than you indicate. But have done well in several others, and those that are still simmering I see great potential, see GGP, HZM, RMM and ACP etc...tbh they have, and do take my attention ... So in no way do I let this car crash rule my life, unlike some pumpers and the mirror image detractors here desperate to justify the calls. So hardly post here. No point.
But yep, it's a lesson learned so far, and can't see it changing in the near or mid term sadly....
Take case mate.
@Amtech.
It's just the Bed n ISA process done via your broker not manually by yourself. AIM, Wasa and myself discussed it a few days ago in the context of the amount of commission they take, the key Spread they use (v DIY). Plus the time it takes.
Around 11am today, as said, I tried it out practically and it went as hoped and discussed. In the past have only done it manually, so was interested to give it a go. AIM totally independently spotted it as one such. Hence the chat earlier.
HTH.
Cheers.
Hi AIM, Wasa.
Funnily enough that 250000 sell and 249127 re bug was indeed me trying your B&ISA theory earlier today. Worked nicely. Right on the lowest Bid (.04000) with only commission on the sell.
Rebuy was very close at .04012 way below the .045 odd ASK at timr... in total cost me 863 shares out of the orig 250000 in the share dealing acc. So with Sell only commission in total cost £40 odd.
Proved your theory. Also as bought close to the bid, as you suggested, has slightly dropped my ISA AVG for a few shares. All good ta.
Cheers.
.....that despite the drop of near 10% this morning. Justified or not on this update (IMO not really).
That those trying to buy and take advantage, those looking longer term.... were largely locked out....
So this implies to me the MMs managing the situation to fill large client buys in the background perhaps? and certainly not keen to thus let Joe Public in....
After that period, the Ask opened up somewhat, and the SP is recovering somewhat.
I hold little faith in conspiracy theory on shares. But the inability to buy in any numbers, when in theory the RNS instigated the selling and a SP drop was.... "Surprising"....
ISA new year tomorrow. A few will be adding (if allowed) at these levels. Also some Bed and ISA activity no doubt to liven the day....
Personally, the latest setback was counterbalanced by the nonetheless increase in recovery rates outlined. True not as good as it could have been. But a decent out turn in the circumstances.
I remain on board. But it would be nice to see the next 3 month update "clean" for a change do agree, and seeing just further good progress on the Cu volumes and grades. With no hedge currently. That is now the share holder demand and must be TB's aim we trust.
Good luck to the genuine long term holders. The luck sure isn't with this share that often it's true. But optimistic it can turn by my next review point start of Q4. If however we are still then beset with issues. I may reconsider my investment strategy.
Until then am sitting on hands with potential to add while giving TB time to show he can really manage the turn round.
Just my thoughts.
gla.
Many, both LTH, as well as I am sure newer investors here get your message now my friend. Thanks.
You are very positive on RMM, as, & depending on the output over the next month's are we all mostly. That's why a lot of us invest here.
But really. 156+ post on RMM in 30 days telling us the same thing...?
It's just a bit tedious to read on average 5 times a day (7 days a week) from you my friend. Why not calm it down a bit...
Then, like the quality posters on here.... Cornish etc.
You might make a bit more impact when you post, and raise a bit less suspicion regarding your motives.
Many of us that have been around a while see through the de-ramping agendas of the Moon looney tune set. But the Uber pump boys can be just as vexing frankly.
You make your point repeatedly, & if you are genuine, why not please wait to see the company release substantial detail. Then one can debate fully sure.
Thanks.
Hi Dan.
In my experience most of what you say is correct.
If you are not rebuying the shares in an ISA. Either manually or via an auto process (see my query in spread used earlier).
The one key issue for CGT is though that 30 day rule...
Beware of that. In that yes you can re purchase outside an ISA within 30 days. BUT HMRC won't allow you to in effect "rebaseline" your CGT position for the rebought shares..
The shares you buy within 30 days, when you later sell them will be matched at the price you bought the first lot for, for CGT purposes... This was introduced to stop people rebaselineing ( within the CGT allowance ) at the end of each tax year ..
So if much later you declare a section 104 holding with a simple share average as your CGT baseline when you subsequently sell a chunk of your shares. HMRC may ask you to break it down, and if you sold and rebought any of these within 30 days to "reset" your average higher (in affect). You may be in for a tax suprise.... As they will use the older lower average for those shares rebought within or up to 30 days...... Hence you pay more CGT than you had hoped...TBA...!
That's my experience of the 30 day rule fyi.
Not tax advice either, but be careful...
Cheers.
Cheers AIM.
Seems like the bottom line is, both from experience here and elsewhere (where I had also raised a similar query), that as suspected if done in house within a single broker for you. Then the fees for usual spread when done manually doesn't get applied if it is largish. So in effect one pays a far more nominal fee for an auto move from trading to ISA accounts etc
Thanks for the confirmation. Suspect this info will be useful in the next few weeks to a few.
Cheers.
Thanks to all for the comments on the B&ISA query.
Seems like the bottom line is, both from experience here and elsewhere, that as suspected if done in house within a single broker for you. Then the fees for usual spread when done manually doesn't get applied if it is largish. So in effect one pays a far more nominal fee for an auto move from trading to ISA accounts etc
Thanks for the confirmation. Suspect this info will be useful in the next few weeks to a few.
Cheers.
Dear all.
Below is a query on B&I I posted on another of my shares, but it also applies to GGP shares in my trading accounts.
The spread here is probably a bit tighter than on the share I reference below. But this is a larger user base, and as principles are the same. Be interested in your experiences of below here in terms of the spread treatment? Thanks...
"
I wanted to just ask about the Spread here, and how it's utilised for a B&I if people have experience ?
E.G.
So it's very wide theoretically from 4.2 to 4.5 say now. That's 7% odd.
In truth looking at the rough trading later today it's actually 4.21 to 4.36 ish. That's still 3.5% though.
I have a few of my ACP outside of a couple of ISAs. Usually after 6/4 I each year manually sell some stocks, wait for the 2 day clear, then xfer in and out of my broker and rebuy. Say 3-4 days in total for all monies, clear, request, in/out & buy.
But have read that B&I, while losing a few shares via one way commission inevitably. Doesn't generally seem to suffer the published spread to the usual quoted trading degree...?
Anyone experienced in this (Wasa etc)... As 7% seems a bit steep, even 3.5% loss a bit high if you are shifting the limit to multiple ISAs?
Or is that the price to pay V 4 days "risk" out of the market manually, but under one's own control etc....
Q than, is really, does B&I really use the AIM often exaggerated spreads, or is it slicker than that. Any experiences... Ta.
Cheers."
I wanted to just ask about the Spread here, and how it's utilised for a B&I if people have experience ?
E.G.
So it's very wide theoretically from 4.2 to 4.5 say now. That's 7% odd.
In truth looking at the rough trading later today it's actually 4.21 to 4.36 ish. That's still 3.5% though.
I have a few of my ACP outside of a couple of ISAs. Usually after 6/4 I each year manually sell some stocks, wait for the 2 day clear, then xfer in and out of my broker and rebuy. Say 3-4 days in total for all monies, clear, request, in/out & buy.
But have read that B&I, while losing a few shares via one way commission inevitably. Doesn't generally seem to suffer the published spread to the usual quoted trading degree...?
Anyone experienced in this (Wasa etc)... As 7% seems a bit steep, even 3.5% loss a bit high if you are shifting the limit to multiple ISAs?
Or is that the price to pay V 4 days "risk" out of the market manually, but under one's own control etc....
Q than, is really, does B&I really use the AIM often exaggerated spreads, or is it slicker than that. Any experiences... Ta.
Cheers.