Discover and read the best of Twitter Threads about #rre

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Now that Andrew Austin has made his 1st deal at #KISTOS, time to evaluate it. Seems that FinTwit doesn't consider it a bargain, and we don't have all the info yet, but indeed we can do some research

Brief: AA DID IT AGAIN

Time for a thread 🧵 #KIST $KIST.LN

((PART 1))

👇🏽👇🏽👇🏽
I've read different opinions so far, but it seems that the general opinion is that €220M+€163M earn outs, isn't too cheap for €31M EBITDA'20, or 5.5m boepd, 19mm boe 2P and 78mm boe 2C. Seen like this, it's fair. It doesn't seem very cheap.
Only positive view I've read about, is from @mgrahamwood saying "this looks to be one hell of a deal". I didn't know if it was only because he's an AA fan, but now having analyzed the asset, I think he's just right:

This is one HELL of a deal
Read 25 tweets
Some thoughts and reflections from my personal investment journey in the recent years & a bit of help for new investors.

Long thread
Strategy

I run a concentrated p-folio that lacks diversification. This is my approach & I believe that focusing on a selective list of well researched companies that are undervalued on many metrics gives me a sharp edge over the wider market as long as I pick the right stocks.
Strategy

Its a high risk approach not suited for most & especially not for those who cant do their own research.
Read 25 tweets
It brings me great joy that alternative energy is obliterating O&G stocks, performance-wise (at least in the UK micro-cap space in which I operate).

My key holding in the sector (and 2nd largest in my entire PF) is #SAE @simecatlantis at 11p average. But it's brilliant... 1/4
...to see the likes of #ITM #AFC #PHE #EQT achieving dizzying valuations.

The more that retail buys O&G on the open market, the greater the valuations these Cos can maintain, and thus the easier it is for them to raise capital.

My belief (or rather, hope!) is that retail...2/4
...will continue to shift into alt. energy (including associated infrastructure, partic. battery metals), thus starving micro-cap oilies of capital. This in turn will reduce the pool of discoveries that majors draw on to replenish their own reserves (besides in-house expl.)… 3/4
Read 5 tweets
Had some quiet time down in Devon last week. Looking at the absolute state of the markets today, I shouldn't have come back to work!

6 holdings down more than 6% each today. Ouch.

#RRE is frustrating. Mgmt only getting away with current SP owing to track record since IPO. 1/3
#RRE now trading 10% below net cash, despite trading on a low single digit 2020 PER.

Evidently the market has something against @rockrose_energy, and will never fairly value it on conventional intrinsic and relative valuation metrics.

So really, mgmt should either: 2/3
I) Commence another share buyback programme (given the Co is the cheapest North Sea oil play around!);

II) Seek financiers to assist in a mgmt buyout;

III) Open a formal sale process (given the increased competition in the space, there'll be no shortage of suitors for #RRE).
Read 3 tweets
For anybody struggling to access the latest #RRE interview please see attached. Enjoy! I particularly like the bit that suggest they are in several data rooms and expect something to play out "in the next few months". 🤞Part 1 of 7.
Part 2 of 7.
Part 3 of 7.
Read 7 tweets
2020 weekly close thread for PFAS.

Down 0.17% over the first two trading sessions. 11 up, 9 down, 5 unch...

No movements greater than 5%
Divis #ULS #RECI
Exit: #RRE (too crowded, no edge)
Slice: #AAZ (to 20% weight)

Now 8% cash which I plan to deploy next week

Good w/e all
PFAS down 0.44% weekly (-0.61% YTD). 12 up, 12 down, 2 unch
⭐️ #BVXP #SPSY
🐶 #ULS

New #CAML #IITU
Adds #HICL #TRIG #HFEL #HHI #RECI #PSN #IGG #GSK #KETL #VNET
Divis #GAW #GSK

Have a great w/e folks 🍻🥂⚽️
PFAS up 1.1% weekly (+0.48% YTD). 18 up, 7 down, 2 unch
⭐️ #BVXP #GAW #HICL #IPX #PAY #PSN
🐶 #SPSY #VNET

News #AAZ ✅ #CLIG ✅ #GAW ✅ #PSN ✅

Sold a slither of #GAW & #SPSY to fund an experimental position in #EMQQ

Have a great w/e folks 🍻🥂⚽️
Read 57 tweets
After 15 months managing client money - and neglecting my own PF in the process - I re-started trading my own book full time on 2 Sept.

Return over 4 months: 193%.

Obviously this was massively skewed by an unholy move in #EUA (equity + warrants equated to 710% gain), but... 1/4
I have also revolutionised my strategy. LT investments have been cut to a handful, but sizing has been increased.

Majority of time spent now on ST trades - seeking out (at least quite!) quality Cos that are enjoying the market’s favour and rising with positive sentiment. 2/4
Leverage also playing a key role in new strategy: T20/40s being used against the LT holds, and a large minority of the PF in IG SB (limited to 150% lev). PF overall ~100% leveraged.

Needless to say, a borderline reckless strategy - but luckily it’s paid off (this time..!) 3/4
Read 4 tweets
Morning all - a few days off from the markets post GE, for a trip to Clermont to watch @bathrugby (lose with dignity 🙄).

Great to see #RRE slowly recover. Said it before, but - a $1.2bn offer was made. Completion of that deal would have seen the SP up by 250% minimum, IMO.
#MKA also beginning to climb back up. The Talaxis / Chinalco MoU is massive: Chinalco is one of China's six SEOs that hold a near-monopoly over the global REE market.

Its partnership with Talaxis is, for me, evidence that it's acutely aware of the Pentagon's interest in Songwe.
#HZM is also recovering, in line with Ni bouncing. Expecting a busy Q1 there, with major newsflow generated by both projects. Current EV (~£27m) is simply wrong. If it doesn't change soon, I don't think it's unreasonable to suggest a takeover - Orion being an obvious candidate.
Read 9 tweets
Some excellent moves in the PF this week:

ST trades in each of #TRX and #XSG reduced, as they had increased so quickly (~150% and 66% respectively). Balances of positions to be held until ~2p for each stock, but will revise accordingly, keeping a close eye on momentum. 1/12
Two new modest ST trades opened yesterday PM, 200k shares in each: #CIR and #C4XD (both ~17.5p av. entry). Primarily capitalising on community's (and my) recent success in trading up Woodford/Invesco calamities (TRX and XSG!). Both now enjoy solid fundamentals - valuations...2/12
...much more attractive now, with both #CIR and #C4XD SPs having been decimated this year. Moreover, they now enjoy the backing of retail. Fundamentals combined with sentiment = crucial.

ST trade (but happy to hold as a LT investment) opened in #DKL too. Very cheap CPO biz..3/12
Read 12 tweets
Current #I3E 197mm STOIIP based on av. 40ft oil sand thickness across Serenity.

But known parameters are 10ft at Serenity oil find and 150ft at neighbouring 13/23a-5Y location.

Av. of the 2 is 80ft, though Eastern (10ft) part is wider, but not by double.
Even remaining conservative, Serenity is bigger than 197mm STOIIP, whether #I3E are saying so are not.
#I3E CEO Shafiq (22 min 20s)

"What Serenity also does for us is puts us into a development. . . Tain and Serenity will now have to be unitised as one field, and we will be part of that discussion with owners of the Tain field."

So clear message, Serenity/Tain are connected.
Read 5 tweets
#EUA cooling off period was due, although it's not nice seeing negative commentary, some driven by shorting, some by enmity. For the former - there are ways of shorting without being aggressive - @Smudgedann @Blowster85 proved this. For the latter - celebrate, it's great for AIM!
Onto #EUA: both interviews have been terrific. The interviewees could not have been more clear that Monch at the very least will be acquired in the near term.

- Pd has in the past 24 hours hit another ATH. Demand from auto industry is rocketing and supply pipeline is negligible.
- #EUA is the only viable UK listed Co left that offers direct exposure to Pd. A lot of cross ramping flying about on Twitter and BBs about other PGM players. I don't want direct exposure to primarily Pt plays - the market dynamics aren't appealing. Pd, however...
Read 10 tweets

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