George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
It seems like the delayed dividend allocation happened to give Stephen Ball time to shift his shares from his personal capacity to his corporate/company account in order to better manage his taxes. For more context have a look at the conversations on ADFVN
We haven't received an update from ALTE in a while, but I see that Verdant has a new website, their Redbank power station is currently undergoing planning approval: https://verdantearth.tech/
Quote from Jason Kotchoff, founder of Stocklight.com and now works on software at Fresho:
https://www.linkedin.com/posts/jasonkotchoff_freshfoodwholesale-ordermanagement-fresho-activity-7162960072875200512-b0ov?
Interesting reasoning here too: https://stocklight.com/news/stocklight-product-update-fresho
Only 8 trades, the market is completely sleeping on this share
Spread is awful
Well played Rupert!
The Prim investments page was updated yesterday to reflect the following:
Removal of Payapps holding
Removal of Bushveld holding - I assume all funds have been received
Removal of Supernatural Foods - probably a write-off
Brilliant news, £5million cash, almost as much as current mcap, and ignoring the value of all other investments. Should be a good day, prim is vastly underlooked
Accumulation going on, could be Rupert or Stephen perhaps
Continues to accumulate. Currently second biggest shareholder behind Rupert
IFM Investors expects the transaction to complete next month. Payapps processes over AUD$75 billion (!!) in payments each year:
https://www.ifminvestors.com/en-gb/news--insights/media-centre/payapps-sale-another-milestone-for-ifm-private-equity-team/
Yes important to keep in mind that approximately 40% of the shares are held by only 4 people, 3 of which are linked to the company itself. Not many shares available. Any serious demand will drive the price up substantially
Now for Fresho - from their recent LinkedIn update there are 62,000 trade buyers on their plaftorm. Let's take a guess that each supplier has on average 100 customers. That's 6200 suppliers. Their middle ground pricing is AUD$258 (£133) per month. That's ~£825k revenue per month, £9.9 million per year. For simplicity sake if we use the 8:1 ratio for valuation (complete arbitrary but used in the absence of any other info), that's a valuation of approximately £80 million. Prim owns around 4% of Fresho, so that's another £3mil. So just between Fresho and Payapps we may have over £10million value, ignoring all other investments. Prim could at least double or triple from here.
Any thoughts/comments/arguments for or against this please share
Let's get some (pie in the sky) numbers down for Payapps potential valuation. From their website they have ~40,000 users. IFM Investors (that invested $50million in Payapps in 2020 stated at the time they had ~21,000 users). I can't find their main contractor pricing but subcontractor pricing is £130 per 10 contracts per month. I don't quite understand the functionality and the product types but let's say 75% of the 40k users are paying and on the premium plan which is £130 per month. That's £46,800,000 revenue per year.
Now AutoDesk has a market cap of $54billion and revenue of $5 billion. That's a rough 11:1 ratio. They will acquire a company to support and grow that level of value. If we take, say, a 8:1 ratio for Payapps that's a valuation of 8x£46,800,000 = £374,400,000.
Prim owns ~2% of this which works out to ~£7.5 million. Currently Prim's market cap is around £5.5 million. Now imagine getting £7.5 million cash in a £5mil Mcap company. That excludes all other investments, of which Fresho can still be quite significant.
Not a lot of shares free, people are holding on
Excellent news about Payapps, and now an update from Fresho too -
600,000 orders per month, 62,000 trade buyers, and they have expanded with clients in New York and Ireland:
https://www.linkedin.com/posts/fresho-_freshfoodwholesale-ordermanagement-fresho-activity-7156533074321666049-r-pF?
AutoDesk is going to acquire Payapps which Prim holds about 3 million shares in (if the website is correct). The acquisition price is undisclosed but could be a good return on the cards for Prim: https://www.businessnewsaustralia.com/articles/autodesk-acquires-melbourne-software-prop-tech-payapps.html
WeCap (formerly IAMFire) has invested an additional £900k in WeShop: https://polaris.brighterir.com/public/iamfire/news/rns/story/x2vjdzw
Shaf you can get more frequent updates about WeShop's progress through IAmFire's RNS (looks like they recently renamed to WeCap)- https://wecapplc.com/investment/weshop/ and https://wecapplc.com/regulatory-news/