(Edited: to read properly) I'll cover Ian's discussions about why I'm short on Rurelec in due course. More importantly, FPM (the company) is turning a corner with the reserves based lending facilities which was already known, as highlighted in the Faroe
Petroleum PLC (FPM) Interim Results for Period up to 30th June 2013.
I'm not giving any waffle around the company turning round as it's been dogged for awhile with various issues including expectations on Novus. From a trading perspective I won't be acquiring all in one go, I don't see the point personally, but with cash and funding available, PIL might just move up the schedule over the coming months, I'd wait till today's news is out the way before appraising any entry points, its positive news, but likewise the sentiment has been mixed for a number of months.
Regarding Rurelec, having kept some equity in the company, it was obvious the sentiment was far from positive in the short-term and the delayed listing with Santiago has not helped matters. I'm amazed other exchanges have not had issue with AIM's regulation but that's for another time. As such, 3 solid points on Rurelec short, returned what was expected in terms of the profits from the positive award. For the first time in a long-time I'm opting to hold Rurelec longer-term with what I have left in the company. Ian is not aware that he will also be doing the same, but he perhaps should read his emails!
From a Ukraine perspective I am surprised that the market hasn't been more volatile, the obvious trades in terms of longing- Platinum and Palladium assisted with South Africa's strikes and Russian's shenanigans.
Kazakhmys and Glencore could have some issues if there's any trade embargo/sanctions placed on Russia, Zinc/Copper, certainly at least some volatility. Kazakhmys acting very predictably as the short interests get torched, it's a prime of example of a squeeze!
Off tomorrow evening for a weekend away with some friends, hope everyone enjoys the UK Sunshine!
Atb Fraser
Fraser
ReplyDeleteThanks for the FPM heads up- not a company on my radar at present but it looks like they have good partners and wet wells, so some homework for me today :-))
Re RUR- my Buy alarms went off at 8p a day or so ago so its nice to know that I wont be fighting against your shorts here if I add, which I intend to do shortly. My forward projections from their power assets is v encouraging and the £25m due in makes this a simple equation. Its nice when shares overshoot.
Metals are all looking interesting at present, for many different reasons. Im happy with my uranium buy the other day and my long term graphite/graphene play (Mason Graphite) was in the news again from PDAC yesterday, which will help them with the $90m they need to raise later in the year.
Cheers. The Leggie