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probably not but £337k in one trade is still big money to me. It's more the fact that it's obviously been worked over a period of time and then reported after the market is closed so no-one actually knows whether it's a buy or sell.
I use HL and every time I buy or sell a stock I either hit the "buy now" or "sell now" button. Doesn't seem a huge technological leap for the reporting systems to record that information and report it truthfully ?
a delayed trade for 2m shares has appeared today. Showing as a sell timed at 16.43 yesterday at a price of 16.1375p. A cynic might think the MM's are manipulating things but surely not? Anyway, whether it was a buy or a sell the price has held up well imo.
Per the most recent 6 monthly report to 31st Dec 20, our average revenue per PGM oz increased in the second half of the year to £1298 from £1068 in the first half - this represents a 21.5% increase in price per oz.
Looking at the SLP report covering the same two 6 month periods, their average selling price rose from $1830 to $3184, an increase of 74%.
Just wondering if we're lagging and there's a big increase in ave oz selling price to come?
I’m seeing a closing price of 16.4p, can’t see any trades as yet at that price on closing.
Check out this morning’s news at Sylvania, bodes very well for us. Basket price up 44% ??
Great interview with KR1's Keld, posted originally across on Stockwits :
https://youtu.be/mDz8r97Uekc
aw2414 - there's also an alternative way of looking at things, Warren Buffet once said "Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
Been here for 6 years and I don't think we're anywhere near full value yet. SLP will release figures on Monday and we should have a better idea on how PGMS are doing.
GLA
Hi Chaebol,
You can now buy or sell KR1 online on Hargreaves Lansdown using a fill or kill order. Good luck.
Check this out Dore !
https://copperalliance.org/wp-content/uploads/2017/05/2017.04-E-Mobility-Factsheet-4.pdf
Correct again Botak.
One slight criticism of KR1 management is that I don't think they've ever really explained in layman's terms what it is they actually do. They're lumped in with all the crypto miners out there when in fact they're miles away from that business.
Essentially KR1 is an investment company. Major mainstream companies approach KR1 when they're thinking of providing a blockchain service to their customers. KR1 assess each opportunity and where they think a project makes sense and will provide real added value to customers, they get involved, build the project out and are rewarded with the new alt coin offering.
So we're not involved in mining anything, we don't have to worry about whether bitcoin has intrinsic value or not, because we know we're only investing in companies where real profitability will increase due to their blockchain offering to customers.
That's the main reason I'm here, KR1 is like a bridge between traditional bricks and mortar businesses and the holy grail that is blockchain success.
GLA
Spot on Botak .
I believe the world is just beginning to wake up to the fact that KR1 cherrypicks the blockchain projects they want to get involved in. They are then compensated in new alt coins for bringing these projects successfully onto the blockchain. A super smart management and staff who accrue pay in alt coins demonstrates the total belief in everything they do. Add in to that the Chinese surge in demand for Dot and the nascent US and European listings and this has multibagger all over it even at 200p
AIMHO and GLA
The times they are a changing - JP Morgan to get involved in bitcoin - https://www.cityam.com/jpmorgan-chief-says-we-will-have-to-be-involved-with-bitcoin/
Also the oldest American bank of all, BNY Mellon, to be custodians of clients bitcoin assets - https://www.wsj.com/articles/bitcoin-to-come-to-america-s-oldest-bank-bny-mellon-11613044810
Anyone got any idea why KR1 would have chosen to list in the USA on this most speculative of tiers in the market? Seems counter intuitive if they’re trying to establish themselves as a solid investment choice.
I think it’s been mentioned that Argo did similarly but I’m interested to find out the logic behind this.
GLA
Many thanks Dorfan, good to get a real perspective on what is imo the single most difficult risk to assess when making investments In the metals niche, the sovereign jurisdictio risk.
Rex, looking at ARB market cap of £450m against KR1 at £180m I’d say there’s plenty more to come with KR1.
Difficult to quantify the value proposition of both as traditional ebitda multipliers don’t exist as far as I can see. Anyone Care to hazard a guess at a reasonable forward mcap? Only need to look at Tesla as an example of markets going mental.
I've been here since January 2018, bought in just to have a toe in the world of digital currencies. I'd be interested in anyone's thoughts on how high this could go now? Obviously we can see roughly where we are in terms of NAV against market cap, but are there examples out there of companies with market caps at multiples of NAV? Are traditional valuation methods valid when trying to evaluate these businesses?
Thanks in advance
With the raft of poor results announced this week, I’m very happy to be invested here. Fully funded, Generating cash and profitable at low oil prices. Amazed the sp has held up in fact.
GLA
Hi NS, thanks for the detailed explanation. It's true we don't really know the full details of the processes or the agreements or for that matter the margins for Cu and Co, all to come out in the wash.
My broader point is that across all of our businesses we effectively "own" many hundreds of millions of tonnes of as yet unprocessed raw material which we paid relative peanuts for so very little included on balance sheet, presumably included in goodwill figures. The "true value" is a quantum leap up from this imo.
I think Leon mentioned a while back that most JV projects now and moving forward see us retaining a majority of the earnings ? Maybe someone else can confirm but the point is the wider market has not got a clue as to the true underlying value of this company.
I think about the 300 million tonnes of raw stock we'll be processing in Zambia in the coming years. Leon said it's 0.3% Cu so that's 900k tonnes. At today's price of around $8000 that's a revenue stream of $7.2 billion! Add in the Cobalt @ 0.05% gives another 150,000 tonnes @ todays price of nearly $40,000 gives another $6 billion .
JLP mcap is £160m today - we are sitting with the rights to a revenue stream of over $13 billion at todays prices, just from Zambia. At a 25% margin which is very conservative that's future Zambian earnings of $3.25 billion. Anyone else care to run that through a DCF calculator and come up with a valuation? Bet it's a lot more than £160m.
AIMHO