Hybridan Small Cap Feast 11 July 2024

Dish of the day Admissions: Rosebank Industries (ROSE.L) has joined the AIM Market today. The Company's market capitalisation (at the Placing Price of 250p) is £50m. Net proceeds of the issue are £49m. Rosebank is a newly incorporated company established to acquire businesses whose performance the Directors believe can be improved so as to create shareholder value. The Rosebank Co-Founders were previously members of the senior management team of Melrose, a FTSE100 company which is listed on the ...

Hybridan Small Cap Feast - 15 April 24

15th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Change of Market: TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated propositio...

Savannah Resources: 2 directors

Two Directors at Savannah Resources bought 1,098,000 shares at between 2.35p and 2.38p. The significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the ...

Polyus - Strategy, SWOT and Corporate Finance Report

Summary Polyus - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Polyus, a subsidiary of Polyus Gold International Ltd, is a gold mining company. It operates mines and deposits in Russia and is considered as one of the largest gold mining companies in Russia. The co...

Hybridan Small Cap Feast - 14 Jul 23

14th July 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objecti...

LIBERUM: Commodity snapSHOT - China's seasonality, illustrated

‘Sell in May and go away’. Is there a fundamental basis for this old trade expression in Commodity World? We think so, at least for China’s 1Bnt/yr steel & iron ore trades. For many years now, we’ve been flagging China-related upside risk in steel/ore trade flows and prices, in the early months of every calendar. It’s that country’s post-northern winter competitive restock, to secure its 80%-share of seaborne ore supply. This seasonal kick almost always reports across China’s trade/conversion/de...

LIBERUM: Restocking Indicator stays on SELL - Demand deteoriates sharp...

The Restocking Indicator is having a bearish year. The signal has reported a SELL, or very close to it, since late January. This month saw the sharpest new orders contraction since last July. Mills remain firmly in destock mode; China’s reopening trade continues to disappoint; confidence in real estate is weak. We still expect market signals to define floors in H2, with upside risk building later in the year – most likely on 2024’s industrial restock.

LIBERUM: Commodity snapSHOT - What value, Commodity World?

What are global commodity markets worth? About US$6.5tn – Metals, Steels and Energy. While this figure’s down a massive 20%YoY, it’s still the 3rd-highest on record. Why did it fall? Dominant driver’s the passing of 2022’s war-prompted inflation, partly a response to a US Fed-led rate hikes. Curiously, commodity supply/demand/trade shifts over the past year have been quite modest, with most markets expanding in-line with broader economic growth, while shouldering extreme price trend-shifts and v...

LIBERUM: Morning Comment

Commodity snapSHOT, easyJet, IDS, Tyman, Market Highlights

LIBERUM: Morning Comment

 Ilika, ATOME Energy, Anglo American, British Land, Mitchells & Butlers, Uniphar, Ashtead Technology, On the Beach, Safestyle, Market Highlights

LIBERUM: Anglo American - Diamond prices continue to soften

DeBeers announced the fourth diamond sale of the year of $480m, down from $604m in the previous year. Prices appear to be driven by the fall in polished diamond index, down 7% YTD or -23% from the peak in March last year. Demand outlook is tough, given the global economic slowdown, featuring a weak post-lockdown China story. Bullish price events: slowing synthetic supply growth, and the West continues to seek a ban on Russian trade – more a hopeful than an effective strategy, in our view.

Asa Resource Group Plc - Mergers & Acquisitions (M&A), Partnerships & ...

Summary Marketline's Asa Resource Group Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Asa Resource Group Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and I...

LIBERUM: Morning Comment

Commodity snapSHOT, Centamin, SigmaRoc, AB Dynamics, Card Factory, Loungers, hVIVO, Flowtech Fluidpower, Mining LOWdown, Market Highlights

LIBERUM: Commodity snapSHOT - Gold’s price containment, explained

‘Mate, I don’t get it: we’ve had a virus sweep the planet, multiple inflation shocks, bank failures, deteriorating growth/trade conditions – and Russia’s war drags on …but this wonderfully bullish backdrop for gold can’t lift its price much above $2,000/oz. Why?’ There are lots of frustrated gold investors out there right now. For years now, anyone buying gold for some longer-term price upside on this collection of dramatic macro-themes has had a tough time. Since 2020’s lockdown, gold’s price h...

LIBERUM: Commodity snapSHOT - Steel & Rust – seasonal peak

LIBERUM: Restocking Indicator stays on hold - Mills lack confidence on...

The Restocking Indicator stays on HOLD, and so matches up with our short-term expectation that iron ore prices will be range bound for the next couple of months. There has been an improvement in domestic demand, but no post-lockdown ‘fireworks’ in play. Certainly not enough to get China’s steel mills, or us, excited on the short-term steel/ore outlook. Worth keeping an eye on rising pollution levels, for this could prompt policy action and lift lump/pellet/high grade premiums – bullish for AAL/F...

LIBERUM: Commodity snapSHOT - Bank-rattled commodities, illustrated

FACT: if gold’s price lifts, when those of industrial metals fall – that’s bearish. High-profile bank failures – SVB and Credit Suisse – prompted this rare, but widely understood signal divergence. Also, price sensitivity to the event was probably enhanced by the fact that Resources’ sector activity is subdued right now. Why? President Xi just flagged a modest 5% GDP target for 2023 + US Fed’s still chasing inflation + Russia’s war troubles the growth outlook …so, Commodity World was vulnerable ...

LIBERUM: Commodity snapSHOT - Tactical trading ideas

The epic rally across most metal/steel-related prices, which began last November, has ended. Bear factors? We see three: 1. market’s disappointment with China’s 5% GDP growth target for 2023 (last week’s NPC); 2. US Fed’s undaunted inflation-targeting hawkish pitch (ignores collapse in global energy prices; further hikes support US real rates/currency = drags on demand for no-yield commodities); 3. on-going deterioration in geo-political backdrop (saps investor confidence on growth outlook). Yes...

LIBERUM: Restocking Indicator back to Hold - Demand improves, but inve...

The Restocking Indicator has upgraded to HOLD, after reporting a sell last month. Domestic demand has improved, although it is still being outpaced by the expansion in finished inventories. We believe a neutral sector call is sensible, ahead of China’s National People’s Congress this weekend. This annual event typically features the central government’s growth strategy for the year. Note, we do not expect stimulus fireworks, given the demand recovery reported over recent months. Statements on po...

LIBERUM: Commodity snapSHOT - Lithium's bearish price drivers, listed

Lithium’s reporting one of the weakest commodity price performances of the New Year, down 25% year-to-date, and 35-40% down from this trade’s record-highs of 2022. It’s a big move. And while most market forecasters like us have been calling for this correction for months now, we’re probably a tad surprised that it has finally occurred. Why? Because EV-backed demand growth (66% of total lithium demand) has far exceeded most forecasts since 2021. We’ve basically struggled to assess the bullish hit...