George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Hi jam2morrow, what do you mean by "more dilution to come, 53M shares worth, and that probably won't happen til May" please? What dilution is that? I thought we were now fully funded for construction and production?
Thanks, KLUCK17. I've read the MD&A on SEDAR. I can only find one - is that correct? What do you mean by "pre re domicile" please?
The moaners here strike me as Day Traders or Opportunity Traders not long term holders. I Sold all my existing Holdings except 2 UK Stocks and some US / overseas Stocks and took significant Losses on most to pile in here at 46-47.5p and just topped up with another £4k at 45.3p, which I’d been holding back for a further investment in Petrofac - because I’d been waiting for an opportunity to get in here at circa 45p, having bought £3.5k at 52-53p.
Expecting an almost immediate return is unrealistic and probably means that those shareholders will take profits at the first opportunity. That’s fine as I’ve done that before too. But don’t moan when it doesn’t work immediately. Patience!
Understand, SEA7. But just check CourtServe.net for yourself. I agree re verification. Even though he sent me the court listing and explained it to me, I want to see it for myself in black & white, and in plain English that I understand!
Yes, I understand that SEA7. But I can’t use his name for obvious reasons. He sent me a screenshot of the CourtServe screen showing the case as ‘For Mention’ ‘S20190022 LUFKIN David CLONM Serious Fraud Office ***PAPER FILE***. DEFENDANT NOT REQUIRED FOR HEARING. COUNSEL VIA CVP.’
under HER HONOUR JUDGE TAYLOR.
True, they could’ve been smaller incremental amounts but I think comparisons with the deal sizes are irrelevant. Whoever Lufkin reported to, presumably into the board, would’ve been culpable. And they’ve probably left the company too.
Oh come on, the size of the company and its revenues/profits are irrelevant. Indeed, the bigger the company, the more stringent the control measures. I worked for a few FTSE 350 companies in the 70s-90s at director level and there’s no way I’d get away with signing off a £30k spend without scrutiny, let alone £30m.
No compassion for Lufkin. He knew the rules. A UK company, not a third world company where he could’ve got away with it or an age where bribery was the norm.
Investors have lost £millions. I invested in 2018 and have lost 3/4.
I think the Court Case does matter. It’s another milestone out of the way and draws the line under it hopefully. Look at what happened to the SP on 15/1, I think sentiment and the mention of fraud and the sentencing of Lufkin will panic nervous shareholders again and the SP will drop to 100p-ish again. I mean a lot of shareholders are fickle and don’t read this board. Nevertheless the case has and will impact PFC’s ability to win deals in the past and short-medium term.
This'll do nicely for starters...
THURSDAY BROKER ROUND-UP (Sharecast News) -
GSK: Deutsche Bank downgrades to sell with a target price of 1,150p.
Hotel Chocolat: Berenberg reiterates hold with a target price of 300p.
Hummingbird Resources: Berenberg reiterates buy with a target price of 39p.
Bacanora Lithium: Canaccord upgrades to buy with a target price of 85p.
St James Place: Deutsche Bank reiterates hold with a target price of 1,250p.
Vodafone: JP Morgan reiterates overweight with a target price of 195p.
Homeserve: Liberum reiterates buy with a target price of 1500p.
Kaz Minerals: Liberum reiterates hold with a target price of 700p.
Ashtead Group: Credit Suisse reiterates outperform with a target price of 4,000p.
Lancashire: Credit Suisse reiterates outperform with a target price of 865p.
Frontier Developments: Credit Suisse reiterates outperform with a target price of 3,750p.
In fact, this is screaming out to Buy as it's dropped unreasonably since its Finals due to investment in Cloud-based technology, which is simply futureproofing. Some more Broker coverage and this will rocket back to 700p+. There's not many bargains around post-Vaccine news but this is one of them. I've added 3x at these lows. Plus it's a reasonably safe haven Deal (status quo) or No Deal Brexit (lower £).
Ha! Scaremongering. There's absolutely no evidence for that. In fact, based on previous 2 Dividends (Interim and Final), SP actually went Up shortly after Ex-Dividend Dates.
(Sharecast News) - Gold may be in for a bumpy ride over the medium to long-term if institutional investors continue to shift away from the yellow metal and towards Bitcoin, a JP Morgan strategist argued.
Since October, nearly $2bn had been funneled into the Grayscale Bitcoin Trust, while exchange-traded funds backed by gold had registered outflows of $7bn.
Over the short-term, the price of Bitcoin had probably overshot, strategist Nikolaos Panigirtzoglou said, according to Bloomberg.
However, should that trend continue, then on longer time scales "the price of gold would suffer from a structural flow headwind over the coming years," they reportedly said.
The investment bank estimated that family offices had just 0.18% of their assets invested in gold, against 3.3% in gold exchange traded funds and even small shifts towards Bitcoin would see billions in cash go its way.