Member Info for TrekMadone

“Sepl doing rather well now , yes wished purchased more in the 90p range,”

Yes indeed as per my post Thursday at 18:28

“Good luck if you can trade lower. I would rather accumulate in 90’s for now.”

But following that I didn’t get another opportunity to add more!

Anyways seems clear that is a run up ahead of results on 28th July. Given the POO during the period they should disappoint + possible updates on…

Amukpe-Escravos pipeline
Additional 2 wells to come on line near term and an ongoing drilling program
Additional gas off take for new GSA’s + always chance if new sales
ANOH gas plant on track?
MPNU deal - possibly, but not holding for much here

I think the ops will surprise..

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Trek

Usually worth following the money if there is a bounce like this. I grabbed 5k shares, 6k was NT, now only 900 shares left at 88p unless a sell comes in.

I have been expecting a run ahead of results. Didn’t think it would be this early so may just be a little recovery from oversold.

UBS London Branch should be buying again as well!

Anyways no idea but eyes and ears to the ground!

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Trek

Don’t see how you can say traders have been flushed out. I had a position here to hold and a position to sell.

However, following that RNS why on Earth would I now sell?

The time to have sold would have been a FOMO Friday which didn’t happen. Now I am caught overweight! Lol!

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Trek

It’s strategic senior debt RE financing, so I take that as all immediate finance. The CUDA deal is link to the financial capacity so it looks like a one hit deal via RBL.

Up beat tone to RNS.

Excellent news IF it lands of which they sound v confident.

Much happier now

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Trek

Rule one of investing the absolute best quality management!

Rule two, see rule one!

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Trek

It’ll come given another set of good ARR numbers.

Ebitda is £302k after acquisition costs against a recessionary macro outlook.

Same applies here as elsewhere, market is unconvinced as yet so folk watch from a position of cash waiting for the right time to invest.

There are also ‘better/safer’ plays available at least from a mcap perspective like CNIC, D4T4 etc

Good luck with your investments

Trek

Hi Stan,

‘Short term the market is a voting machine longer term it is a weighing machine’.

I take encouragement from APF’s recent royalty deal, the huge US infrastructure spend that starts September, (North) America’s aim for commodity autonomy and that Idaho is a mining friendly state with many companies already operating there.

So for sure there will be an appetite for the bonds.

The question is wether there is for PXC’s bonds!

I would be much happier if the mcap was as high as the intended raise even though the mcap will have little bearing on value should we have to be sold it is still a value point.

I note that the AoA permit us to raise a substantial amount of equity if needed. See last agm voting agenda although this is clearly a last resort.

The success of the bond raise will come down to management. Who they know, how good is the story as well as terms. Remember how the tone of the last presentation changed to bias ESG.

The risk off is imo short term and yes I think the bonds would complete if we got 45-50m. That imo would be a great result!

Must stress it’s just my view as I have no experience of this but I think if we don’t get the full amount we will run with what we have and come back to the market in 2023 or 24. We have around 10m cash + say raising even 25m US from the bonds would be huge. That would carry us through for well over 2 years and enable the PM’s to be mined and sold.

Then we can come back to the market with a higher SP and be revenue generating or even look to RBL.

As a last resort we could, raise say 5-10m from equity as a buffer. If they do I just hope it’s a proper RI so we can buy in an ISA on equal terms. Another option is we can also sell parts or look for a JV.

So my view is if we get the full amount that would be amazing. If we don’t there are still plenty of options given LoM and our diverse metals. Imo this finance deal is not a binary event.

As for the permitting, given all the work PXC has done over many years I see that just as a question of time.

As for trading I have traded my average down here with a view to doubling my position if they get the finance or if they don’t get it in full. Especially if they don’t get it in full as I think a complete misread by the market will follow as there are other options and the mine as huge value potential. The subsequent price drop there could present a massive buying opportunity if you can tie funds up.

Obviously my preferred option is finance/licence/dig/produce/sell/dividends!

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Trek

From memory the bonds are $25k a pop. They will be tradeable and pay an 8.5% coupon with extra’s linked to NSR + copper price.

But I would rather, well have put over £25k into DEC and am getting a 12% yield paid quarterly. (I have posted over there, it’s my top income play.)

So if it was just for yield I wouldn’t buy the bonds as they are too complex for me and I would hunt out more flexible options. You would need to be a serious HNW and probably use a broker to handle it for you.

If it’s bonds or company then defo I would buy stock as your capital should grow if the asset is realised.

The advantage with bonds are if it goes **** up they get paid from a fire sale we get what’s left, if anything. The bonds also don’t have the same vix as the stock.

But I would buy the stock as part of a balanced pf.

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Trek

Sweet got 1000 shares yesterday at under 570! I am amazed so few posts here.

It’s only a 400m mcap company and pretty obviously on someone’s radar! Also with a nice quarterly yield that has just been bumped up!

In terms of outlook I think, unfortunately, energy providers will be insisting more use their smart meter cards. The cash at local shops and subsequent increase in shop local will make up for other recessionary headwinds.

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Trek

Hi Bomber,

Thanks, I have looked at them briefly recently. I held a while back and got burnt there! Funny how quickly things can turn around but it sure didn’t look like it at the time!

This tactic may help you for income. I have an excel with a load of high yield shares and I list when they go xd. Some I have been able to time entry on market pull backs. Hold the stock. Grab the divi and sell shortly after at a higher price than I bought + the divi.

Yesterday I piled into PHNX 4000 shares at 577. They go xd with 24.8p on 19th Aug. Their interim/final is 50/50 split which makes them attractive as many other xd shares in Aug are for a lower interim.

I have been using this system really effectively to boost my much needed income. Last time I traded PHNX I bough sub 600, grabbed the divi and sold at 630ish.

You can read across to other stocks if you get the gist. It also means you don’t have to leave money on risk in between dividends or you can buy dips elsewhere.

Hi O&W,

Sorry my last comment really wasn’t that helpful. I don’t know what my average was at the time as I had traded so many and the ii note doesn’t list tax deducted.

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Trek

This is a great Co will soon be debt free.

I am on the sidelines as well as others here! So I guess when it moves it could be dramatic!

If hopefully there is an end to the war in Ukraine then I think many savvy investors will be putting their ‘kitchen sinks’ in here!

Stay alert!

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Trek

Well still on sidelines. Results out today show £9bn has walked since q1!

Given the drop recently it may be difficult to see how the market reacts. I just hope it ain’t what happened to insurers yesterday due to inflationary impact on car repairs!

Interesting to see the SP reaction.

Well done to those that bagged the divi. May be worth going to cash and then timing a buy back for the next one or hoping on elsewhere. That’s how I tend to play these.

Just a view.

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Trek

Interesting article on royalty companies….. we have pay dirt!

“ Owning a royalty means a mining company prospects for gold on the property where you have a claim to a small part of every ounce found. Once production begins, 1% or 2% of everything produced flows directly to the royalty holder. The royalty-holder doesn’t get involved in digging or exploration. Franco Nevada got lucky. The mining company working on its royalty discovered what is today one of the richest seams of Carlin-type gold in the world producing more than 45moz. It’s still in production and paying out today. The royalty business is the most lucrative I know of, and Franco is its blue-chip leader. It has hundreds of royalties under management – but only employs 26 people.”

https://www.thearmchairtrader.com/gold-world-of-royalties/

Trek

Pretty bold Temple,

I see a few sells at 100-102 some probably hoping to get back in in low 90’s. What if goes back to 105 though? POO not tanked and gas is up!

I have sold elsewhere, insurers actually with a view to adding here and more DEC where I have bought today.

I concur with WB’s views who has backed O&G heavily. Only where there is a moat, divi, increasing earnings etc.

He wouldn’t touch SEPL or DEC with a a barge pole but the thematics hold true re combating inflation, tight supply. I note he added to Ocxy near highs!

Good luck if you can trade lower. I would rather accumulate in 90’s for now.

Hi O&W,

I had £144.01 for 8000 shares at the June Divi. Had offloaded a load due to the press report at the time but back in now.

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Trek

Out with the last at 160. Will see how it goes before reconsidering. If it recovers plenty of time to get back in.

Moved some to DEC for now.

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Trek

Divi costs 2.7m for the half year.
We have 5.4m cash
1.25m float for transactions
Leaves us 1.4m is to carry on
I expect them to pay this quarter and cut next to 2p.

From a personal perspective I have been trading more due to the vix. I am somewhat perplexed as to why JIM’s volumes have been so off when AJB, CMCX and PLUS are doing so well.

That is of more concern to me than the headlines. I can only assume it’s a less active client base that are attracted to JIM.

The update was pretty brutal. I am hoping they have something up their sleeves to pull us back to £2 some time soon.

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Trek

Obviously leaked this week.

It’s a question of how much is in the SP following the drop from 390p

A divi update would help, that’s why I am here. Do we assume no change? Likewise gotta go out now.

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Trek

I very much doubt that. Need to get over 145m mcap min for smallcap.

We don’t even make fledgling yet! This list isn’t long enough!

I use it regularly as part of trading for larger stocks. It predicts the next index shuffle.

http://www.stockchallenge.co.uk/ftse.php

Anyways nice to have traded to the blue at last! Hope it closes in the 8’s now and moves up from there then that will be job done!

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Trek

Is there now more than £400 liquidity at .85? Just curious. Lol!

Trek

Well that, 150%, would be nice. I overloaded my position at 17.5p to sell into the close this Friday.

If it doesn’t come off then I am happy to hold the stock until next week or beyond but would take a spike tomorrow. Oops aren’t we supposed to say that. Lol!

CUDA news 50% rise/30p it will likely then drop back as it’s sold into. The real rise will come later imo.

Not selling my core holding here though. That’s tucked nicely away for future divi’s just like SAVE and TXP hopefully at some point in the next few years.

Usual caveats

Trek