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The one trade is a nonsense. I have seen stocks with 20 x 1 trades in a day and numerous other single digit trades.
The small trades or a dump of trades at the same time are usually liquidity trades by the MM or broker to move the SP or to hold it up.
There is some reference to them here in the LSE handbook.
‘Definition: market making incentive schemes that the Exchange is mandated to offer under Article 48(2)(b) of MiFID and Article 1 of Commission Delegated Regulation (EU) 2017/578
Page 58 covers it and also ALGO trades.
https://docs.londonstockexchange.com/sites/default/files/documents/rules-lse.pdf
MiFID2 MM agmt tab...
https://docs.londonstockexchange.com/sites/default/files/documents/20200401%20MIT%20&%20TE%20Parameters%20version%207.2.xls
Usual caveats
Trek
Just refinancing. Of the 9m only 800k is for working capital rest is to pay debt with debt on better terms keeping it within the family!
They have added in the CSS sale (RNS 20th March) to further reduce debt and provide working capital.
Looks like a sensible way to spend the windfall avoiding equity dilution. Would rather they got rid of another lump of CSS though to further reduce debt but then the redemption terms seem quite onerous in favour of Dickson. There’s always something with these ‘nepotistic’ deals but with the Dickson’s owning 53.91% of the company and holdsworth adding since the Nex listing at much higher sp; I think this package will be fine esp given directors are in at higher levels.
Could do with some more divestment news though to claw back to the 20’s!
Usual caveats
Trek
Big move up today for here. 12 month high & 5 year intra day high. Have to go back to 2015 to beat 155.
I suspect the 158 prints are buys. Probably an order called for as we are up on relatively little volume.
I think the double divi works out to about 4.6p in my ISA so something else must surely be causing the rise.
Re the arbitrage. I am not aware that the shares are transferable. They are dual listed with a quantity on each exchange.
Usual caveats
Trek
Don’t underestimate the power of Bo’s contacts in getting this rig. Personally I think it was lined up ages ago. Probably before the IPO and just box ticked now.
‘ Mr Stenger has worked with this specific Rig for 20 years and so he is well versed in delivering safe and effective operations on this equipment. Mr Stenger also has experience drilling helium, having previously worked with CEO Bo Sears in helium exploration drilling in Montana using the Cardwell Rig.’
This is why it’s very different having the experience of Bo at the helm. It should run smoother.
We have a rig with spares and a very experienced crew that have also drilled for helium before.
They will know how to set it up what mud to use, how to cost effectively and safely case. Everything. It’s all been done before. We even know the geo yields helium!
I wouldn’t be surprised if the usefulness of Bo’s contacts help with getting the permitting done seamlessly and also customer delivery further on down the line. He will also know who to speak to about any offtake JV.
This is not a virgin drill in some remote place with complex regulations and a lack of spares. It’s just another well in Montana. Just happens to be helium!
Usual caveats
Trek
Oh I ain’t going to over ramp it. But I think I have earnt the right to post one here.
Check out HEX, a US helium play. Just IPO’d. I know there are some geo knowledgeable investors here that can figure it out for themselves but you may not have heard of it. A home for some change!
Good luck
Usual caveats
Trek
Absolutely thrilled that we have had some news and the SP has held!
Next news it may even go up!
Trek
EST - well done guys! I would have thought that would be a good JV for CAML rather than that Scottish start up they have backed. At least there’s a JORC pending!
Usual caveats
Trek
AVCT - haven’t followed em for a while now.
Ouch!
“ The Board carefully considered the difficult balance between further dilution and the Group's cash resources to deliver key value adding milestones from the upcoming AVA6000 efficacy studies. On this occasion the Board has decided to settle the quarterly repayment in shares but will continue to review this on a quarterly basis and, if it considers that conditions allow, the repayment will be settled in cash.
After settlement of the quarterly repayment, the principal remaining under the Convertible Bonds will be reduced by £2.55 million to £35.70 million.”
I mean talk about telegramming and opportunity to the shorters!
They only sliced 2.55m from the 38m debt and the sp tanks 8%. If they carry on with the dilution the SP will be negative!
Usual caveats
Trek
In in time. Once it holds the 11p close that could be the signal new money has been waiting for.
With so many investments going below the placing price folk are rightly cautious and look for momentum before buying. Not saying that that is now but it could well be soon.
Those of us invested now knew the risks of a dip below the placing price. But we also appreciate with so many shares tightly held, and logically the newsflow, any pullback should recover relatively quickly.
I think it hasn’t dipped because the 100k trades have been orchestrated in an orderly market where the general consensus is that the current mcap offers the chance of plenty of upside.
Imo this will do 1 or 2p in a single day soon. Then it will get noticed and folk will get their slide rules out!
Usual caveats
Trek
Open 1074, low 1076, high 1099, source google finance.
You must have had a bet on hickster. Obviously as surprised as I am!
Good luck
Trek
I held rqih years back. Can’t believe the sp now!
Pxc - they are waiting for the bonds to be signed off. The thing is they don’t have much cash left. Running on a Riverfort loan atm.
Riverfort will need paying and they don’t have any production to pay the first bond payment.
I cant see the financiers allowing them to pay the first bond payment with the bond money. It don’t work like that.
The best they get is to roll up the debt. But then Riverfort need paying.
If they can use the bond money for that all well and good but I suspect the bond investors will hand over cash for capex investment. To build the mine. Not to pay off one credit card with another.
Expect an equity raise even if they land the bonds imo. So sell the news! You can always buy back in after a likely rise.
Usual caveats
Trek
Good Monday so far.
My buys from last week and today in MNG, PHNX, SEPL, DEC and HEX all now in the money. Just PAF having a down day following POG pullback. Next Ops update should be good there though.
Read through the smallcap RNS’s this morning. The news at BSE, MTEC and APTA just show how undervalued some stocks are. Even at GSE where the market is still not convinced atm I think they will pop soon.
I only added to HEX though. Always prioritise funded with cash in the bank. Should be some bigger moves there soon. I have been tracking the volume and in the absence of TR1’s I am inclined to think that the MM’s have been taking on stock to sell back. Probably in parallel with a T20.
They bat both ways, so the opposite to the run down at HE1. With the pending newsflow and relatively few shares they can spike it up quite easily imo! Hence I have gone overweight with a view to slicing some along the way.
Usual caveats
Trek
PAY - I knew the market had it wrong!
My previous posts testify to that. They are about to instigate a buy back. For transparency I don’t hold for no other reason than I chased higher yield elsewhere.
Don’t be surprised is a bid for them isn’t forthcoming. Look at the share register!
Usual caveats
Trek
Hi Jethro,
“ Future additional funding is, of course, inevitable,‘
On that I think there are options.
Whilst some working capital may be needed ahead of sales, if HEX get lucky on the first drill which is likely given the shows and geo then I think the Bod will go down a completely different route to HE1.
If HEX can flow helium to the surface then given the relatively cheap infrastructure I would not be surprised to see a customer step in or even the DOE or both to achieve security of supply.
What are we talking, 10m for offtake or even split it between two customers and they get exclusivity. It’s a lot for us but not for the majors.
With Bo’s contacts expect the unexpected imo.
Anyway getting ahead of oneself.
Let’s finish the scoping and get a good rig deal, there’s plenty of rigs parked up!
Usual caveats
Trek
Article on delistings from London
https://www.theguardian.com/business/2024/apr/22/sharp-rise-in-aim-delistings-casts-doubt-over-city-of-london-future?utm_term=66260b958490ae7cea52f9c5ced9723f&utm_campaign=BusinessToday&utm_source=esp&utm_medium=Email&CMP=bustoday_email
Trek
Watch GST, they have pumped their subsidiary revs. Prob pumping sp to fill coffers for another acquisition. Not a bad thing in itself. It’s just the how!
Usual caveats
Trek
Overweight in here now my last top up this morning.
Hoping to take some profits on the way up and leave my core position in for the journey.
Will follow the news timeline as opposed to charts because there are some obvious price pivots ahead.
13m mcap funded for 3 drills within a known helium geo in the US is way too cheap imo.
I really think Bo knows exactly what he is doing and with DM’s battle wounds you can already see from the restricted placement that they are in tune with investors.
I fully expect deals aplenty with these guys and maybe even a JV further on to spread the costs.
Usual caveats
Trek
‘ On Friday, RBC Capital Markets adjusted its outlook on Phoenix Group Holdings PLC, a leading UK life insurance company. The firm increased the price target on the company's shares to GBP6.15, up from the previous target of GBP6.00, while reiterating an Outperform rating.
The revision came after Phoenix Group's stock exhibited a notable underperformance compared to its sector and the broader market. Year-to-date, the company's total share returns were down by 7%, while the UK life sector and the FTSE 100 index both saw gains of 11%. Despite this underperformance, RBC Capital noted that Phoenix Group now trades at a fiscal year 2025 dividend yield of 11.6%, which is not only near the lowest it has been in the past five years but also higher than the average yield of its peers, which stands at 9.6%.
The analyst from RBC Capital highlighted that the attractive dividend yield has led some investors to question the company's performance. Addressing these concerns, the analyst underscored Phoenix Group's positive attributes, including its improving cash generation, earnings, and leverage ratio. The firm emphasized that the company's dividend is sustainably covered, a fact that they believe is not currently reflected in the stock's valuation.
Phoenix Group's commitment to maintaining a solid dividend payout appears to be a key factor in RBC Capital's positive stance. The analyst's comments suggest confidence in the company's financial health and its capability to continue rewarding shareholders, despite the recent underperformance in its share price.’
https://au.investing.com/news/company-news/rbc-capital-raises-phoenix-group-stock-target-maintains-outperform-93CH-3209138
Australian link.
Trek
Ps thanks guys
Maxed at HEX now with last 50k buy this morning.
Just gotta switch off and wait now.
13m mcap fully funded for up to 3 drills, that means 2!
Top Bod and excellent helium proven geo in US.
Gone overweight to hopefully bank some on way up.
Gonna follow the news timeline on this one rather than charts. Lots of clearly defined price pivots.
Usual caveats
Trek
Well at least they are adding capex and expanding the facilities. All takes time though but we are much further along now.
Once that extra gas hookup is tested I think we could be near the £1 or hopefully closer to Malcy’s TP!
Usual caveats
Trek