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In the green box!
Trek
Sure lots of ALGO trades and early trades from 07:00.
https://api.londonstockexchange.com/api/gw/lse/download/DDDD/trades
It’s just MM schemes to create liquidity. They may be trying to flush out a seller/fill and order but please DYOR and ‘1 codes’ these are usually inter mm trades. ARB had hundreds in one week. No RNS though!
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. Worth learning the offside rule before you play footy because you can be sure the MM knows all the rules! ATB.
https://docs.londonstockexchange.com/sites/default/files/documents/rules-lse.pdf
Trek
There is a float to be absorbed.
I have emailed the company about how many tests hundreds are. You may need to swap a machine over or replace consumables after a couple hundred tests but I am NOT sure hence emailed them.
Obviously the Heathrow field trials know how to mange it else they wouldn’t have placed the orders. Also for office use it wouldn’t be as much of an issue.
A price tag of say 20k is not a lot for a tester especially if it opens things up, ticks off duty of care etc. We used scopes that cost that back in the day!
I think there is much more to come from this tech reading that it could even advise on antibiotics after a test!
The 40% rise on news is not exactly stonking given the order pipelines. Perhaps it’s that PI’s aren’t aware or they are already ISA’d up with other covid stocks!
Will probably be a bit bumpy until the medical CE is signed off but news on further orders will help esp more in US.
I think once the float goes this will go on a decent run. Sub £3, £500m mcap could be a bargain given they can already see 280m potential orders. As always upscaling will probably be the challenge!
Trek
Took an age to buy here on fill or kill due to liquidity. Hence the crazy spread. Still got in with 2 orders at around 2.69. TBH glad I got in below recent highs as I think 3 will go soon. Spent a few hours reading up the weekend and bought here and at TTG.
Atb
Trek
Check out the vid on the link. The tech is awesome!
99.8% sensitivity and 96.7% specificity and 20 sec saliva test! Probably also has less user sample errors than PCR!
https://virolens.keyoptions.com/
“One of the best kept COVID-19 secrets percolating overseas that has not yet hit mainstream media is how Heathrow airport has been carrying out trials of a coronavirus test that claims to provide results in as little as 20 seconds. It's as simple as spitting into a collection tube. The concept is to screen passengers in lieu of a mandated quarantine. About 250 airport staff took part in the trial, choosing one of three different tests, which have yet to be proven effective. One self-administered test involves a "machine-learning holographic microscope" which, backers including Dell (NYSE: DELL) and Intel (NASDAQ: INTC) hope, can identify whether a person is carrying the disease and offer results in less than half a minute.”
https://www.marketscreener.com/quote/stock/DELL-TECHNOLOGIES-INC-50061235/news/EmergingGrowth-com-Dell-and-Intel-Backing-iAbra-s-Virolens-20-Second-COVID-19-Test-31281449/
Trek
Worth a look given the 99.8% sensitivity and 96.7% specificity and 20 sec saliva test.
Not a deramp, it’s complimentary as Avacta would cover home market, mass testing etc and queuing up for a machine kind of defeats the safety objective but I am sure it will have its place. I picked up a few TTG today having researched them the weekend as they are the only UK listed partner with exclusive production rights and a massive order pipeline penned in CE in 4-8 weeks.
Check out the vid on the link. The tech is awesome!
https://virolens.keyoptions.com/
“One of the best kept COVID-19 secrets percolating overseas that has not yet hit mainstream media is how Heathrow airport has been carrying out trials of a coronavirus test that claims to provide results in as little as 20 seconds. It's as simple as spitting into a collection tube. The concept is to screen passengers in lieu of a mandated quarantine. About 250 airport staff took part in the trial, choosing one of three different tests, which have yet to be proven effective. One self-administered test involves a "machine-learning holographic microscope" which, backers including Dell (NYSE: DELL) and Intel (NASDAQ: INTC) hope, can identify whether a person is carrying the disease and offer results in less than half a minute.”
https://www.marketscreener.com/quote/stock/DELL-TECHNOLOGIES-INC-50061235/news/EmergingGrowth-com-Dell-and-Intel-Backing-iAbra-s-Virolens-20-Second-COVID-19-Test-31281449/
Enjoy!
Trek
“Why do the virus and the disease have different names?
Viruses, and the diseases they cause, often have different names. For example, HIV is the virus that causes AIDS. People often know the name of a disease, but not the name of the virus that causes it.
There are different processes, and purposes, for naming viruses and diseases.
Viruses are named based on their genetic structure to facilitate the development of diagnostic tests, vaccines and medicines. Virologists and the wider scientific community do this work, so viruses are named by the International Committee on Taxonomy of Viruses (ICTV).
Diseases are named to enable discussion on disease prevention, spread, transmissibility, severity and treatment. Human disease preparedness and response is WHO’s role, so diseases are officially named by WHO in the International Classification of Diseases (ICD).
ICTV announced “severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)” as the name of the new virus on 11 February 2020. This name was chosen because the virus is genetically related to the coronavirus responsible for the SARS outbreak of 2003. While related, the two viruses are different.
WHO announced “COVID-19” as the name of this new disease on 11 February 2020, following guidelines previously developed with the World Organisation for Animal Health (OIE) and the Food and Agriculture Organization of the United Nations (FAO).
WHO Director-General's remarks at the media on 11 February 2020
WHO Situation Report on 11 February 2020
WHO and ICTV were in communication about the naming of both the virus and the disease.
What name does WHO use for the virus?
From a risk communications perspective, using the name SARS can have unintended consequences in terms of creating unnecessary fear for some populations, especially in Asia which was worst affected by the SARS outbreak in 2003.
For that reason and others, WHO has begun referring to the virus as “the virus responsible for COVID-19” or “the COVID-19 virus” when communicating with the public. Neither of these designations are intended as replacements for the official name of the virus as agreed by the ICTV.
Material published before the virus was officially named will not be updated unless necessary in order to avoid confusion.“
https://www.who.int/emergencies/diseases/novel-coronavirus-2019/technical-guidance/naming-the-coronavirus-disease-(covid-2019)-and-the-virus-that-causes-it
Trek
Hi RKSigma,
Part 1
That’s an interesting article thank you for posting. Some of the facts I was aware of such as tax, royalties and warrants as they are in the RNS’s. IMO it’s beneficial to post a researched bear case so always post away!
It’s a nightmare valuing goldminers, I think we all agree on that! The AISC metric varies from 1 company to another.
The bull case here is replicated across many miners but the differentiation for GRL is the grades and the postcode. They are absolutely outstanding! GRL are funded and following the financial review, gold room capex delay etc, can soon self fund. First pour is still on track this year if EP arrives soon. And... Why shouldn’t the EP arrive given other associated environmental sign offs and knock on govt tax benefits.
Here are the economics for Homase from 2019 DEP. slide 8
https://www.goldstoneresources.com/documents/presentation-q3-2019.pdf
Gold Price (Base Case)......US$1,300/oz
FX Rate......GHS 5.263: US$1.00
Mineable Resource (inc. tails)......2.26 Million tonnes
Initial Mine Life.....5 Years
Annual Production (Phase 1).....14,400 oz (average)
Total Production (Phase 1).....72,000 oz
Strip Ratio / Recovery (O/all)......3.5* / 81%
Cash Cost (Phase 1)......US$650/oz **
AIC (Phase 1)....US$852/oz
Cash Flow (after tax) (Phase 1)....US$26.2 Million
Initial Capital......US$6.95 Million
Sustaining Capital.....US$1.5 Million
NPV 10% (after tax).....US$19.5 Million
IRR (after tax)......143%
Payback (after tax)....Within 1st year of production
Part 2
The total costs on slide 26 include royalties and Ghana G&A but excludes Ghana corporation tax, capital expenditure and exploration costs. I get why capex and expo are excluded as one offs but not why corporation tax is excluded. I confess to only noticing that on reinspection. However, that said the tax is the same for all miners in Ghana and many are doing very well!
These metrics change significantly with $1800 POG. From RNS...
“The combined effect of an increase in the gold price and the reduction in initial capital outlay is estimated by the Board to increase the originally estimated project NPV from US$19.5m to US$34.5m and the IRR from 143% to 382% (at a 10% discount rate and excluding financing costs).”
You have to assume that the LOM can be extended given the geo with birimian mesothermal gold mineralisation features between Obuasi and AKHM and the recently announced drilling.
GRL are also benefiting from previous capex and expo spent on the old mines. My case is once this project is up and running even accounting for dilution the ROI has significant upside with debts paid off very quickly.
The investor ‘holdings argument’ cuts both ways. They are also here for those grades. It’s great to see a financial commitment and serious skin in the game and funds now ‘on tap’ via warrant conversion but there is always the threat of going private. However, AIM takeover rules mean they have to pay the high of the SP reached in last year. There’s a little more to it, detail this link...
https://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk/
Part 3
I agree the shareholder base makes t/o unlikely. However, if it were to go private I doubt it would be on a joint holding basis else what’s the point, tax and costs are the same and you have ‘all’ the risks. It’s just as well stay listed and holders take any future divi. Going private would mean Paracle would have to buy out BCM and others or vice versa. So it’s back to the t/o rules.
Should AIMS convert all 120m warrants then that will take them to 32% of the Company and rule 9 comes into play re mandatory offer. However, they do not necessarily have to follow through.
Here are the major holders circa 50%!
https://www.goldstoneresources.com/shareholder_analysis.php
Directors also hold 3.3%. See annual report p13.
https://www.goldstoneresources.com/documents/2019%20GoldStone%20AFS.pdf
Existing holders and directors will also be diluted!
It is worth reading pages 28/29 of the annual report where the finance structure is set out by the auditors in the consolidated financial statement. Ergo the conversion should be in the SP or at least to some extent. The conversion should add capex and therefore mcap to the company as it happens. However, dilution usually sees a SP dip and often a recovery beyond the conversion price if the market sees value.
The corporate structure has been clearly set out in the 22 June RNS. These funding arrangements are normal for junior explorers. Ticking off the funding case was one of the reasons I invested. That said I am under no illusions that EP delays cost money. This could mean an early call on some of the warrants and is probably why the SP is languishing. Once the EP arrives I see this reaching new highs.
Usual caveats. Hope that helps.
Trek
Goldstone Resources Ltd is an AIM quoted resource development company with projects in West Africa. The Company has a portfolio of gold projects, from exploration to near term development, the principal being the Akrokeri-Homase project in south-western Ghana (“AKHM” or the “Project”), which lies approximately 8 km along strike from the Obuasi Gold Mine, one of the world’s major gold mines with a total historical and current resource in excess of 70M oz Au.
The Project holds two former mines, the high grade Akrokeri underground mine (the “Akrokeri Mine”), which produced 75,000 oz at a recovered average grade of approximately 24g/t Au, and the Homase open pit mine (“Homase Open Pit”) which previously produced 52,000 oz Au at an average grade of 2.5g/t.
It is the Company’s intention to bring AKHM into production within two years and to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.
GoldStone is supported by its two major shareholders, Paracale Gold Ltd, a mining investment specialist, and BCM International Ltd, one of Africa’s largest private contract miners.
https://www.goldstoneresources.com/documents/presentation-q3-2018.pdf
“In Q4 2017, Kirkland Lake Gold’s Fosterville Mine in Australia had the most impressive grade with 21.5 grams of gold per tonne of milled ore. Combined with a cash cost of $226/ozt, Fosterville is one of the world’s most remarkable underground gold mines right now.”
https://www.mining.com/highest-grade-gold-mines-2017/
Apart from the EP what am I missing? I don’t understand the lack of interest here.
Trek
“Ouch. Stop loss set up.”
Sure Lincoln is ‘lipstick on a pig’ but you do realise that setting a stop means you accept a sale at any price below that and not necessarily your stop price.
If you were to trade here (which I am not). The move imo is catch the bottom early doors and sell the bounce rather than accept a low ball stop from the off.
Just a view.
Trek
Nice bounce today off of 110!
Thought I’d look at the max chart range just for a bit of fun!
If you look at the max chart and use a bit of imagination you can see a sawtooth shape taking place now that the base has been broken by the recent up trend.
Some also refer to that decent and then climb as a cup forming.
Either side of the cup, the steeper sides (area A and B on graphic) can take the shape of an ascending channel.
So you get the gist that looking over such a long timespan a shape emerges. You also get charts within charts Like intra day, 3month etc but the big picture trend remains.
So my prediction is that we will climb out of the lows copying the rise (ascending channel) that we did during 2015. Ok before everyone shouts £10! To achieve that we need to break each resistance and that resistance then becomes the next support. We then go to the next resistance and so forth.
It’s ok to move sideways a bit but if we drop through the previous support then the next wave is down to the lows again.
However, that said it’s a very bullish chart and no reason why from a TA perspective it can’t mirror the previous climbs. Charts tend to love as much symmetry as possible.
Here’s a go! Hope the settings save. Enjoy!
https://uk.tradingview.com/chart/XveS2vhu/
Trek
Always try to understand rises on no news. Sure POG helps but that tide should raise all ships. May get some completed orders published after hours as market has been difficult today. I only settled for 3.5k shares as was trying to do a flip into here.
I can only think the environmentals are close.... perhaps someone knows.
From Aug 11 rns
“The company now awaits amendment of the Industrial Effluent permit (ECA Industrial Sewage Works). Initial regulatory review is complete, and the Company has applied for an expedited approval of this permit amendment.
The Company has also filed its Closure Plan amendment and is awaiting approval before posting the necessary financial assurance”
Anyways for LTH’s or investors here as I have said before. This is a future divi stock. Fully funded to first pour and outstanding grades in Canada! Just tuck a few away as you can and forget.
Re the TSX and AIM SP disparity. Don’t worry I hold TXP, also dual listed and it happens all the time mostly liquidity or forex driven.
Usual caveats,
Trek
Good timing tom,
If any want a flavour of our lag look at PUR & SGZ. Both set to pour this year and SP’s now on their way up!
GRL will catch up as soon as EP comes through. Sure as always it’s a risk but the tendency is for docs to bounce back and forth rather than just a no. Biggest gains from now imo.
This week also sees the return for business seniors from hols.
I expect it done within next 10 days.
Someone mentioned potential MBO. A very realistic possibility here. Just look at the % holdings and trigger terms in RNS’s
Patience.
Trek
I could only add 3500, more was NT on ii. Will come back later.
Trek
The LSE algorithm used on this page only gauges a buy or sell according to if the trade was above or below the mid point at the time it ran.
So here are some facts.
# The published trades here can be 15mins late.
# If the spread is wide, there is no way of knowing what side of the mid point the trade was.
# If a sp falls quickly sells will look like buys as by the time the algorithm runs it puts a sell above the mid point and shows it as a buy.
# If a sp rises quickly a buy will look like a sell as by the time the algorithm runs it will be below the mid point so the buy looks like a sell.
# Furthermore with a wide spread you may find some MM’s are so far apart from the mid point so how do you know if it’s a buy or sell.?
# If you use interactive investor you may get a prompt, we have improved your order by £162 so your buy may look like a sell when published as there was one MM with a better book.
# or the stock may be illiquid and there is only 1 MM with the min so they push the spread out, I have seen 40% spreads on AIM, to deter trades. See volume and liquidity are key to gauging value.
# likewise on a tight spread MM’s can have buy/sell book pretty close so again you can’t always be sure,
I hope that explains some of the myths. But what difference does it make.
For every buy there is at some point a sell, why do you think the London Stock Exchange don't say buy or sell. It’s just a trade to them. It’s just the aggressors price that is published. I.e the trade instigator. The simplest way to gauge the buy/sell demand is the SP trajectory, the volume, and the chart candles. So overall based on the 3 month chart these are being bought. The shares are overall in demand. They haven’t hit a downtrend.
Just try and time any dips
Trek
Not RNS (reach) here. But SHG are presenting Wednesday. If you go to the TXP RNS stream you can register from there using their RNS, it’s free.
“Thank you for registering for "Shares Investor Evening - Webinar - Wednesday 9 September".
Hear from and talk to:
- AEX Gold
- Corcel
- Shanta Gold
- Touchstone Exploration
To find out more, visit www.sharesmagazine.co.uk/events
Please login using the link below to access the webinar from any device.
If you login before 18:00, you will be held in a waiting room which will automatically refresh when the webinar goes live.
Please note the following details regarding the webinar:
- You will not need audio or visual available to contribute, just your sound switched on
- Please use the chat box provided during the webinar to submit any questions you have to the speaker
- If you have any technical difficulties, please also use the chat box provided and we will try to assist you further.
Please send your questions, comments and feedback to: media.events@ajbell.co.uk”
Trek
Well there you have it all the prim/txp posts deleted.
Must have touched a nerve with my conclusions Saturday! Lol!
Atb
Trek
This is about global reach. PCR swabs are difficult to take. Saliva is far more straightforward. It opens up another testing Avenue. Think India/Brazil/USA etc countries that already have ELISA technology available. Affimer’s can be shipped at room temperature and provide additional testing optionality. I don’t know yet if they come as a preloaded plate or you make them up..
It’s also further validation of the Affimer S&S.
From the 7th August RNS...
“LSTM is currently evaluating the performance of prototype lateral flow tests provided by Cytiva alongside Avacta's ELISA laboratory test using SARS-CoV-2 coronavirus samples, as a precursor to full clinical validation studies.”
So there you have it ‘alongside’ tick.
Trek
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