AFF Member Stock Discussion

[cove]

Snail mail arrived and we were shorted in two share purchase plans. So two cheques in the mail. Micro X and Cyclopharm both did this.
Have Australis Oil & Gas share purchase plans and with the jump in oil prices it may be ok.

 

[Dr Ralph]

BOQ retail share offer completed:


“BOQ received strong support from its eligible retail shareholders (Eligible Retail Shareholders) under

the Retail Entitlement Offer. Applications from existing Eligible Retail Shareholders totalled

approximately A$336 million (or approximately 45 million New Shares), reflecting a take-up rate of

approximately 50%. In addition, approximately A$72 million (or approximately 10 million New Shares)

was applied for under the Oversubscription Facility with each Eligible Retail Shareholder who

subscribed under the Oversubscription Facility receiving the full allocation of New Shares for which

they applied. Including the Oversubscription Facility, the total take-up from Eligible Retail Shareholders

was approximately A$408 million (or approximately 55 million New Shares), representing a total takeup rate of approximately 60%. These numbers remain subject to final reconciliation.”



Looks like I’ll get all of the original shares and additional shares I applied for.

 

[Mr_Orange]

That is a surprising lack of support given how the banks have been performing recently.

What was the offer price?

 

[Dr Ralph]

That is a surprising lack of support given how the banks have been performing recently.

What was the offer price?

I agree it is very surprising. An instant profit was to be made as they were issued at $7.35. I had no hesitation in taking up every share I was offered, including the additonal shares. I would happily have purchased more.

 

[Radio8tiv]

I agree it is very surprising. An instant profit was to be made as they were issued at $7.35. I had no hesitation in taking up every share I was offered, including the additonal shares. I would happily have purchased more.

Won’t have to wait to long to sell them, they will be available on Thursday.
I will be keeping my full allocation for a while though, but yes somewhat surprised also, didn’t think I’d get the full amount.

 

[cove]

Thought about securing a good quarterly income from the sale of Vocus. We picked Cromwell which is CMW and bought them between 79.5 and 81 cents. The next quarterly entitlement is at the end of March but paid a few weeks later. This is for income rather than a big capital gain. Not planning on investing all the Vocus proceeds this way but we do like not having to work to get a good income. Latest quarterly distribution should be 1.75 cents which is 7 cents a year.

 

[cove]

By the time we phoned our broker we were 5 hours late to get a look in. They said closing at 5pm EST but it was rushed. Therefore we were definitely in the line for zero allocation on Calix.
Was working so time was in short supply this morning.

 

[Dave G]

Got a bit of a smacking today - but only right so after an amazing week with ADN and VXR

 

[cove]

Warrego Energy together with Strike Energy have intersected more gas in the Dongara to Cataby leases. We are on Warrego as it has a lower company valuation than their 50% partner. Strike have an impressive board compared with Warrego but half is half.
This should prove to be a huge win for Western Australia to open up manufacturing opportunities of fertiliser and hydrogen.

 

[cove]

We sold enough REX shares to have the rest run for free.
We would only go for Latitude float if it comes to the market at two thirds of what we have heard the price will be.
Having made a mistake selling some E25 we saw them take off upwards this week.
Today we bought FRB which has a very good looking E25 style of deposit. A small company so lots of potential.
Didn’t get to add any Cromwell units as the price did not drop back to the price we want.
Tonight the US market is having some interest rate jitters so we may get opportunities next week.

 

[cove]

Had a read of Adore Beauty which is ABY. We still think it is worth about $2.50 and not more than double that figure. Sales are going ok but it will be quite awhile before they are able to justify their current price.
Looking around today knowing that the market is expected to open down a bit on Monday.

 

[cove]

We continued buying Firebird Metals today. That is FRB.
Waited patiently for Cromwell to pull back.
Latitude is floating at $2.6 billion valuation and have locked in some key applicants.

 

[cove]

Saw Tyro has recovered nicely from the glitch they experienced.Ophir were buying them during that slump.
Firebird was looking good at the end of trading yesterday. Manganese is a highly sought after metal.
My embarrassment of buying multiple lots of Westpac in their issue at $24.20 is not as great now but mistakes take a long time to fix themselves if you don’t average down. Problem can be average down and both purchases go down further in many cases.This time averaging down did work fortunately.
One of Mrscove’s favourites is Pushpay who run an app for folks to donate to churches.
Last night we invested again in Ophir Global High Conviction Fund which requires you to be a sophisticated investor status to participate.
We bid for Calidus shares in their placement yesterday at 40 cents. They want to expand their gold production in the next year.

 

[Mr_Orange]

ne of Mrscove’s favourites is Pushpay who run an app for folks to donate to churches.

Did you see the episode of Shark Tank where the founder of Push Pay got outed and embarassed?

 

[cove]

No @Mr_Orange we don’t watchShark Tank. Is it on when Pimple Popper or Rawhide is on??
They are based in NZ so do we trust those Kiwis?
So far we have more than a doubler so we just let that PushPay ride.

 

[cove]

Anyone interested in the Latitude float @$2.60 with a small first raising to keep the market tight?

 

[cove]

@samh004 did you end up with any cash after your home building project as Latitude is rattling their can to get some fresh shareholders onboard?

 

[tgh]

Anyone interested in the Latitude float @$2.60

not this black duck….

 

[cove]

With a tight issue there may be 5% to 15% gain possible on this float of Latitude. Have not decided now that the offer is out there.

 

[Kerrodt]

My prediction is that Latitude might go off a bit initially then sink like a lead balloon - pump and dump by the insto's. Someone once described it as a pig with lipstick..... Remember, this is PE wanting an exit and history tells us that PE only exit at the top, for maximum gain in their favour and without leaving anything much on the table for the new investors except to lift the rocks later on to find all of the spiders lurking underneath.

When they attempted their failed listing in 2019 their loan impairments charges were astronomical compared to other lenders - this would not have changed for the better as their business model is risky loans. Intelligent Investor wrote a very good review of the business in 2019 and the vast majority of their analysis holds true today.

I've decided and I won't be participating.