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Yes clearing the overhang pretty quick. The million was from Friday. 2 x 250k buys also showing today.
Whilst it was frustrating for the drill to be put on hold due to the virus, the build up prior to the stop was proving difficult. Sine the February placing the spectre of ARATO converting has pinned the SP and stunted any build up to the drill. The enforced pause and ARATO maintaining their conversations just trashed all expectations. The situation is a lot clearer now and a proper build up to spud should occur.
Bought back in after Thursday's RNS. BoD have seen sense and acknowledged the detrimental effect of Arato loan notes. The last Arato conversion should clear next week, a small window then may see a rise before we are left with the small placing shares at 2 that may or may not be flipped. Either way the pathway is now clear and a base is in place to push forward. In for Morocco drill although Trinidad is a nice near term interest. News flow should increase particularly if Morocco relax their covid restrictions.
Think we will have news before trading week finishes on Thursday, timed nicely for Boris to make his lock down reducing measures o Sunday. Here's hoping.
Nice update
' On such difficult business decisions success or failure rests when once in a generation events like COVID-19 strike'
Nice contract win. Hold and you will be rewarded.
400 dumped presumable by DL. Sooner he is done the better. Maybe about 1 mill left?
Whilst the Feasibility Study is continuing with work underway in Australia, South Africa and the UK, the Company believes it is inevitable that some workstreams will be impacted, however the degree of impact is currently uncertain. Following a review of the various ongoing workstreams, the Company is now targeting completion of the Feasibility Study in the second half of 2021, in line with an anticipated more stable market environment and favourable backdrop to advance project development. We note, however, that extended periods of COVID-19 disruption may further impact this timing.
2 oilers (this and BP) 2 banks (Lloy & Barc) pharma (GSK) and miner (AAL)
Claim:
The Government doesn’t follow through with their promises that they’ll buy any new ventilators.
Response:
This is untrue. We have over 8,000 machines arriving in the coming weeks and we are working to procure more everyday. We are also working alongside industry to scale up existing UK manufacturing and, simultaneously, design and manufacture new products. Of course, any new orders are all dependent on machines passing regulatory tests. We are rapidly ramping up ventilator production in response to this crisis.
Anyone who has existing ventilator stock and can support should email here and if you want to offer wider support visit this page.
Guess this includes IHC
'We are working with a number of firms to scale up production of existing UK ventilator manufacturers, as well as designing and manufacturing new products from scratch, and procuring thousands more machines from overseas.'
In full
https://www.gov.uk/government/news/response-to-the-financial-times-article-on-ventilators
Mainly traded small caps on AIM, but the lure of these large ftse 100 companies falling so markedly due to the black swan event of Covid19, compounded by the oil spat has presented some fascinating opportunities; be it trading or investing for the long term. Started buying in a couple of FTSE 100 companies, but was wrong footed out by the sudden increase in Ftse 100 driven by the Dows rise after Fed stimulus et al.. Have to say the big caps are trading like AIM stocks with the large, almost daily, swings. Personally think the lows will be retested fairly soon due to the inertia over the oil price and the full impact of the virus not being fully appreciated in the US (regrettably escalating cases and deaths, mass unemployment and the loose canon that is Trump) Markets always look ahead so catching the lows are virtually impossible but I think the increases of last week will be reversed. Have my list of 5/6 big stocks to scale into when they reach my individual buy in targets. After slicing, would look to hold majority long term to fully appreciate the unique opportunity the current situation presents.
Cathal been surprisingly quite for a couple of weeks. Fully expect some near term news/updates be it Chinese funding or contract news by end of this month. Share seemed to be moving uninhibited Friday pm.
Trading update should be interesting.
Don't believe it will be treading water for much longer. When it goes it should be rather good.
be for off the overhang going. MM seem content to sell at this area although it usually has a little dip mid day.
Clearly a big overhang. Buys v sells confirms as much, and it has been prevalent for some time. Reduced my holding here until clarity as to seller is forthcoming.
is relentless, really hard to figure where they are all coming from, given the shares in issue and no tr/1's.
Excellent update and great Feb figures.