Member Info for teamwork86

The original managers, Thor Johnsen and Andre Karihaloo, threw over £1bn of pensioners and savers money on a bonfire while creaming off huge fees for themselves.

They then moved onto a new firm called "Digital Gravity Partners" with no consequences for their misconduct, and continue to accumulate their millions.

They are now going to relist on the Gibraltar Stock exchange. Sounds very dodgy indeed!

Oak Bloke is rarely negative on a stock so this is surprising. On the other hand, I think Saba will keep pressure on this trust to deliver results

Thanks for this post. I expected such good news from this company so I thought I might have misunderstood what I was seeing when these results came out. Can't believe they would sell out of ETH!

Unbelievable how they went from an NAV of about $1.80 to $0.42. I think it's a scam and the board have been lining their pockets with shareholders cash

Great comment. I wouldn't attribute this new immigration plan to xenophobia. It's just a form of deception for political reasons so that they can massage the statistics and hope that the illegal migrants don't get noticed as much. The government don't care about the damage done to the country. They are only focused on their popularity.

I agree. I think it's fallen far too much. Shame there's so little discussion about this stock, so few trades and a massive spread

20% write-off today of their loan to Harland and Wolff.

There you go! Proof again that debt funds like this and Sequoia are high risk. Not worth the big risk of losing capital for a slightly higher return when you can buy government bonds. I've lost a lot on these very disappointing investments. But RCOI were particularly negligent to sink such a high proportion of their entire fund into one high risk company.

And I'd add that plenty of goodUK smaller companies are very undervalued so I'd prefer to be in them than this hobbyist/charitable computer building firm that has such a limited track record

I didn't invest in this because I took a pretty close look at the accounts. Their inventories went from around $9M in 2022 to $60m in 2023. Directors commented that the year had begun badly but they expect sales to pick up in the second half of 2024.

My suspicion is that private equity firms didn't want to fund them anymore despite having taken part in previous fund raisings, so they took the chance to hype up the AI aspect and sell their stock to naive investors before the decline becomes obvious.

For those of you that subscribed, you may be lucky to take a quick profit tomorrow and that's often the case with highly oversubscribed IPOs, but I don't think this is a good long term investment.

Thanks for those responses.

I found AJ Bell allowed me to buy and so I got in yesterday. But I tried about a month ago and it wasn't working with AJ Bell, so in retrospect it might have been because I was trying to place an order out of hours and they don't take orders on this stock.

I expect the NAV is higher than the last reported seeing as ETH has moved up so much, so it might not be good value to accept this tender offer

Can anyone recommend a broker in the UK that would allow buying shares in PNIX please? I've tried all the largest brokers but none are allowing it. I have a friend who spreadbet these via IG index but the spread and costs are high with them.

Does anyone have an idea as to why Marshall Wace has a short position in 1.59% of Yellow Cake?

I think Uranium will do very well this year. There's a discussion here:

https://independentspeculator.com/Kitco-2022-12-21

I still think the year for markets will be negative, but governments are chasing uranium in all scenarios.... If war continues or war stops, they still don't want to be reliant on Russia. Then to hit net-zero targets they also need to use nuclear power.

I hope you subscribed. It went well in the end.
The company does not choose the price it will sell shares for in a bookbuild. They call up the large institutions and ask these institutions what price they would be willing to pay for a large block of shares. After canvassing a few institutions and getting a general idea as to what price they can achieve, they then announce the bookbuild and their broker calls these institutions to commit.

The USD share class seems better value due to the smaller spread. But I read that they locked themselves into PPA contracts for an average term of 14.4 years so that seems to me like they will not get the benefit of rising power prices.

I'm wondering if the income that TEEC receives is inflation-linked and if so, is that link subject to a cap and collar (in which case it's not a true inflation-link). I have just been skimming through the last financial reports but couldn't find an answer to my questions. I recently looked at US Solar Fund and was disappointed that their power has all been sold on PPAs with an average life of 14.4 years, so it seems to me that they will not benefit from any rising power prices.

Thank you for a very detailed explanation.

A friend tells me that DEC hedges the gas price... So they don't benefit from rising gas prices and they lose money via the cost of the Hedge. Is anyone else aware of this?

Since all their assets and earnings are in USD, the recent strengthening in the dollar is very good news for this company and the Natural Gas price is still strong so I think this is very undervalued.

Have SEQI mentioned in any of their news releases about how the increased Corporation Tax and falling renewable power prices will affect their NAV?

Today, GCP Infrastructure (who seem to me to be very similar in business type and assets) announced a 9% decrease in NAV over the year and the stock is trading on a discount of -1%. The decrease was attributed to those 2 factors mentioned above. So how come SEQI have not addressed this issue and are trading on a 6% premium?

I'm still puzzled as to why a debt-company is exposed to declining power prices -don't the operators of renewable infrastructure have to repay their debts regardless of the price at which they sell their power?