Member Info for TrekMadone

£28m UT trade wow!

Usual caveats

Trek

Hi barchid,

My money is on an RNS Tuesday, pity I will be golfing early so won’t be able to sell into any spike but like you I think it will pull back up from here.

On a fourth read I think they have a systems compliance issue. Sometimes it can just be a naming convention or could be a regulatory process. That to me seems more likely than loosing an account.

There’s a guy on site going through it all. Probably looking for a fix but in the meantime JIM can carry on but if there is an activity that conflicts with their regulatory process they run it by the FCA for transparency.

Remember MiFID2 on the LSE. All the upgrades etc. Its possibly a conflict along those lines. The regulatory process is very complex for these trading companies.

As it’s intimidated it’s one person and a timescale is indicated 3-6 months…

“ JIML will continue to work with the Skilled Person and FCA with the aim of having the restrictions lifted as soon as possible”

It indicates it’s resolvable, probably software so no big expenditure or hardware outages.

I get the ‘brand impact’ but when it’s done it could be a positive. I mean I would be left wondering what it’s all about if I held HL, CMCX, AJB etc… I wouldn’t be surprised to see others spooked if/when more is known.

It’s likely they would withhold the divi until an outcome is known. But if as Monty says they self reported there may not even be a fine. As I said the FCA’s aim is compliance not necessarily fining.

Anyways all guess work for now…

Usual caveats

Trek

My average comes out at 98p! That’s a yield of 12.23%! Lol!

I will be delighted if it stays at 98p and amazed if the 12p divi (3p quarterly) is held but you never know. I am getting over 10% at DEC. It does happen!

Nothing ventured….

Usual caveats

Trek

From the website client B is clearing…..

“ Since launching our Model 'B' Clearing and Settlement Service in March of 2005 we have developed relationships with several leading IFAs, Stockbrokers, Asset Managers, Investment Companies, Building Societies and Banks.”

Anyways that was fun I grabbed nearly 6k worth. You actually couldn’t buy a set number of shares on ii it would only take cash.

I bought in three lots, 99p no surprise there! 92p and 94p as it bounced.

I figure the company will draft a statement over the weekend and then when folk think it’s an overreaction I will sell them again. Well that’s the plan!

Can always grab em back later.

I think at worse is a fine of sorts or a systems change. But the FCA’s role is to help not fine unless it’s deliberate obfuscation. I have had dealings with them before.

This could prove to be an opportunity or not but a 50% drop seems well overdone. It’s not exactly a duster! Lol!

Usual caveats

Trek

From website….

Quality of Service
Jarvis position themselves at the most competitive end of the market on price but appreciate that service is the driver for long term success. Jarvis has grown mainly through recommendation, are multi-award winners and our customer-centric culture is underpinned by our Customer Charter.

Compliance
Jarvis has an excellent compliance record dating back to the foundation of the firm in 1984 and are committed to the highest standards of regulatory compliance, complaint handling and Treating Customers Fairly.

Security
The Financial Services Compensation Scheme protects customers who hold their assets with Jarvis. All stocks are held in a separate nominee company, as required by the FCA, and cash is deposited with Approved Banks in designated pooled accounts. All requests to transfer client cash and stock are subject to robust controls. We recognise that one of the most important responsibilities to all our clients is to ensure the safety and security of the assets entrusted to us. With this in mind we have put in place a professional indemnity insurance policy with a major third party insurer to provide the maximum level of cover.

Trek

Are the divi’s impacted yes or no?….

“These voluntary restrictions do not prevent JIML providing services to current clients and paying its ordinary expenses and commissions; nor do they directly restrict any payment of dividends by the Company.”

Directly restrict so they do indirectly??

Then…..

“ The additional professional fees and associated costs, and the asset restriction, however mean dividends payable to the Company (and therefore dividends payable by the Company) may be reduced and/or delayed pending FCA approval.”

Is that a may be or won’t be….

Terribly worded RNS…

Folks will assume the worse. But at least it’s near 3 months to the next divi whatever it may or may not be!

It could be worth trying to catch the bottom as this looks a finite regulatory thing but wtfdik!

Usual caveats

Trek

Flipping heck someone’s dumped 6.8m. I wondered why the price dropped after my 500k buy.

Sold elsewhere and thought I’d carry on averaging down here as pretty convinced we will have a run soon.

Usual caveats

Trek

Yep I got out just in time. Had sold most anyway but had to send the last to market at best but got 157 ish.

I am not sure if the impact that this could have on new customers. Have read RNS twice it seems pretty vague as numbers are an unknown so have bailed. Will watch from sidelines.

Usual caveats

Trek

Assassination attempt

https://www.ndtv.com/world-news/russia-ukraine-war-russian-president-vladimir-putin-survives-assassination-attempt-report-3346174

Sounds more like a tyre blown out. probably to fabricate an excuse to round up all the dissenting councillors!

Usual caveats

Trek

I think that’s a good call wisleyman. They can run as they are but to grow will need a serious cash injection. It’s just too expensive to borrow. Equity is an obvious choice. That way they can keep the divi funded from ops albeit over more shares.

If they cut the divi that will send certain investors away. Income is king to mitigate inflation erosion at these times. If the capital value goes south as well that will be a double whammy.

I will start buying back in at 800p if it comes. But not all at once!

That’s because 800p is a good price for a longer term investment here and I can add if it goes lower.

Usual caveats

Trek

“ KAZ ruled by a dictatorship”

Yes but the people are increasingly anti Russian and pro Ukrainian

https://youtu.be/g19jdzG19SY

https://youtu.be/eT_PpBVl7G4

This is crowd control Russian style…after the last uprising

https://youtu.be/RVzLbpM5dV8

I am happy to support jobs in Kaz. A Ukrainian victory or even a cease fire could be a catalyst to changing the landscape there.

Usual caveats

Trek

Imagine what will happen to metals esp copper if he does step down!

That’s why I am sticking with CAML. It’s pulled back slightly below my buy now but there will be a 10p interim divi end of month (final is 12p). It has extremely low cost copper mine next door to Ukraine via rail in Kazakhstan or it can get there via Turkey. It has zero debt!

Also zinc mine in North Macedonia.

It’s a great end of war play imo as for sure Ukraine will need a lot of copper and Kazakhstan has been fairly neutral so could go by rail straight to Donbass via Russia.

Massive speculation of course but underpinned by a 9% yield.

There are currently, however, inflationary, energy and fx headwinds as there is for most miners.so it is a play on macro upside.

Usual caveats

Trek

From CMC markets yesterday…

“ Expanded well retirement at Diversified Energy

The US production company operates out of the Appalachian Basin in the US. In July, it announced that it had agreed to buy plugging and well services firm ConServ, its third decommissioning acquisition in 2022.

Following the agreement, Diversified’s plugging — sealing pipelines prior to abandonment — programme includes 15 well rigs, up 70% from the end of the first quarter of 2022. The company has pledged to retire 200 well rigs annually across the Appalachian region.

“With our expanded asset retirement capacity, we are efficiently delivering on our plugging comments as well as servicing the needs of other companies and state governments as the premier Appalachian plugging service provider,” commented executive vice president and CEO Brad Gray.

The Diversified share price is up 37.5% year-to-date through the close on 14 September at 131p. It recorded an all-time high of 144p on 19 August.”

Trek

Hi Hodgeyd,

That did cross my mind but I also thought ‘stockbox’ and the interviewer had a reputation. Whilst one would expect a bit of give and take not asking “and how is all this financed” is such an obvious question.

Not to ask it undermines the integrity of the whole interview. If this was you first view of GCAT what would you think! I’d think something doesn’t add up here and probably look somewhere else. Especially having heard it all before from other mining CEO’s.

Fortunately for investors we know more of the story but that still doesn’t change my view. It was such a pivotal question that not to ask it sent completely the wrong message for all concerned.

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Trek

“ The NMGP Project is aimed at monetisation of Nigeria’s abundant natural gas resources, thereby generating additional revenue for the Country, diversification of Nigeria’s gas export routes, elimination of gas flaring.

It will also assist in supplying gas to Morocco, 13 ECOWAS Countries and Europe, integration of the economies of the Sub-region and improvement of living standards of people within the sub-region”

https://www.thisdaylive.com/index.php/2022/09/14/nnpcl-set-to-sign-7000km-gas-pipeline-contract-with-morocco-west-african-countries/

Copied from cautionyourblast on save.

Usual caveats

Trek

Wow after my post Scott’s lands! Awesome advice and all for free! Brilliant.

Thanks Scott again for sharing your knowledge

Usual caveats

Trek

It’s a good shout Ezhik, I got TXP via an O/T. You have to find something from somewhere and the inspirations are limitless. Ironically I have ZPHR on my research list for the weekend amongst a shed load of other stuff!

But the point is I was going to kick it into touch again until your post as it’s now hit me from several lateral sources.

The problem I have though is I am fully invested and bar 2 shares am well up even after the recent market declines which have actually helped. That’s another story. But even my two loosers I’d pile into with cash now!

So the point is to buy another stock of which zphr is on a list of many it’s gotta knock another off the perch!

What a lovely problem to have!

Well it beats Eastenders, Love Island or whatever else folks absorb themselves in other than sport which I get!

Enough of my diatribe I will have a dig later.

Usual caveats

Trek

Guys,

Sorry to disappoint but I thought it was a poor interview. There wasn't one question on finance. The guy interviewing was completely lethargic and let RM go on about his fav subjects, ops, team work, top team, flat out etc, etc

From some of the posts here it felt like I watched a different interview!

Here are my flash notes….

“ Breaking ground in next week to ten days,

Spending a lot of time and money expanding the capacity of the mining side so when you driving development of the underground you have to cut back in the actual tonnage you deliver from the underground….so we have had some weeks where we haven’t delivered much ore out of the underground to the plant as predominantly been stripping but that is all stabilising out now……

The goal is 3k ton a day, building additional infrastructure, power, water, expo, lab etc…multiple projects within the overall project…

On to expo, ten ten greenstone mineralisations expo etc…

Re-logging old core from resolute…re-drilling Q4

Positive on TZ…

Busy busy… how do you do it….strong team etc…more recruitment, expansion on project managing, and exploration team increased by 2 and another and they have teams…

Bringing ‘candidate’ geologists into team as well…

Elections…

Sum up 24k in next 6 months is on track. Expo results coming through and construction of heap leach plant….. working 18hrs a day 6.5 days a week!…”

It’s all fantastic stuff and there are a heck of a lot of ‘new’ costs in there particularly recruitment. Look it’s all great if they have the cash but he actually says the tonnage has been (as we know) reduced as they optimise. So the elephant is still in the room! Finance!

What a missed opportunity from a very poor interviewer. Especially as we know from the past that RM is such a nice honest chap that if you ask him a straight question he will intimate something at least even with a said ‘unsaid’.

Look it was great to hear about the ops and the potential upside and I get our mcap, peer analysis and that we expo and produce etc but I am saying that if you have zero finance questions in an interview it’s unforgivable!

Trust me, probably like many here I have sat on the receiving end of many in a past life and if I had a ride like that I’d be delighted!

Usual caveats

Trek

I bailed half and recycled and now have a lower average price for the same number of shares and a bit of cash + am in profit at around 28 and a bit pence!

They don’t always go like that. But this time it came off. But like bankrupty I always held a core position just in case.

I am actually looking forward to averaging up when there is more financial surety! But then given the liquidity I doubt one will be able to get a bean other than just blindly buying at market makers best! That I hate doing!

Usual caveats

Trek

They expect a drop….. I guess we all do really…..7 fig salaries all round! Lol!

“ European countries can withstand Russia’s gas cuts this winter as supply headaches may have been “successfully solved”, according to analysis by a leading US bank.

Goldman Sachs said the price of gas was likely to more than halve this winter as efforts by EU countries’ to avoid big shortages this winter prove effective.

Goldman said on Tuesday it expected European wholesale natural gas prices to fall from about €215 (£186) a megawatt hour to below €100 a MWh by the end of the first quarter of next year, assuming typical winter weather conditions. That is well below the €213 previously predicted……”

https://www.theguardian.com/business/2022/sep/13/gas-prices-eu-fall-sharply-goldman-sachs-eu-russia?utm_term=63217f49da6081122a7b5488567c344c&utm_campaign=BusinessToday&utm_source=esp&utm_medium=Email&CMP=bustoday_email

Usual caveats

Trek