Thalassa Share Discussion Threads

[basem1] 22/2/2017 10:39

The more I look at the 3 year, the more I think this is on support and should start the next leg up soon. I'd start the ball rolling by buying a few but after last weeks accidental purchase of a further 20,000 I have enough. There's very little resistance on the chart to the upside so the next leg could be a stupendous rise.

[jmf69] 22/2/2017 08:20

If the oil price can stay at these levels or even push up then we're looking good imo

[basem1] 22/2/2017 07:50

It certainly would Lauders !! Looking at the 3 year chart I do believe we are on a notch of support, given the healthy pullback it may just be time for the next leg up again.

[lauders] 22/2/2017 01:29

Looking back at the previous RNS announcements I see that THAL have released at least one almost EVERY month with one or two exceptions. We haven't had one in February yet and the month is coming to an end. Perhaps due one? Would be very nice to see upwards momentum again.

[frazboy] 17/2/2017 14:50

The answer may be that they can't buy back 60 days before a results announcement. Anyone know for sure?

[basem1] 17/2/2017 14:46

Just what I was thinking ? They seem to buy into strength rather than buying into weakness. Maybe waiting for that support line on the 3 year which is 2-3p away. I bought 20,000 more of these yesterday quite by accident. I'd left an old order in and it got bloody filled. I was gutted and tried to get it reversed but no can do. Only wat to do it was sell and take the £500 hit plus costs. Very careless of me.

[frazboy] 17/2/2017 14:39

I'm not sure why you announce an extension of the share buy back followed by a modest purchase at more than 10% above the current market price and then you just let the share price slide on minimal volume. I'm sure there's an explanation but I don't know what it is

[lauders] 17/2/2017 01:24

Bring on the news then frazboy ;-) Worth remembering some of the comments from Duncan Soukup towards the end of January:

“Given conditions in the industry at the beginning of 2016, the board is extremely pleased to be able to announce successful operational and financial results for 2016, which may increase further following the conclusion of our review of reserves,” said chairman Duncan Soukup.

“As result of which, the board has resolved to replace the current stock buyback programme, once completed, under which the company has bought back a total of 3,108,657 of its own shares since February 2015 at a cost of £1,343,257.80, with a new plan to repurchase up to £2m of the company's shares.”

Soukop said the board's current view for 2017 was one of “cautious, but unpredictable” optimism.

[frazboy] 16/2/2017 13:46

I don't think there's much/any for sale. It's almost completely illiquid outside of news events

[basem1] 16/2/2017 08:56

You'd think that the board would be taking advantage of this quiet spell and buying back further stock ??

[greenroom78] 08/2/2017 14:22

I think it depends on supply and demand at the time. You could buy well between the spread a day or two back, looks like supply has dried up a little. Spread certainly does make it hard to trade this one.

[basem1] 08/2/2017 13:55

No I've tried everything from 5000 to 20000. Buying and selling. Those are the offered qoutes.

[frazboy] 08/2/2017 13:53

If you trade normal market size it should be a big tighter than that basem

[basem1] 08/2/2017 13:36

If they'd narrow the spread I'd take a few more 63-66.65 no good for us momentum traders.

[jmf69] 08/2/2017 10:04

Not much resistance all the way to 175

[rcturner2] 08/2/2017 09:37

I hope so basem!

[basem1] 08/2/2017 09:27

Start of the run to £1 here, I don't believe there's any resistance on the chart.

[jmf69] 02/2/2017 08:20

If they think that the shares are cheap and the company performance is improving then it makes sense to buyback the shares. I believe that the average buyback price is mid 40s so that would already be a 50% increase.

[frazboy] 01/2/2017 23:36

So in theory the shares which the company is buying back and is putting in treasury (and into trust at a later date...?), as opposed to cancelling, could be given to the employees (and directors) at some point. I would much prefer the intention of the company be made clear, I recognise that they could also be reissued at a later date and this may be a cheaper/better way of raising capital, if so required, but why not just hold the cash?

As for the other recent activity/investments e.g. Papua mining - I really don't know what DS was thinking... As for LSR I'm less concerned - that looks like a sensible investment although I'm not sure that was what DS had in mind.

I can't help but think that were DS to walk away we might get a bit of a rerating

PS: another way of thinking about the 2014 purchase of shares by the trust (through money lent by the company) was that this was the company buying back its own shares to distribute to the staff/directors. The loan was around £3m (subsequently written of as noted above) which was less significant in the context of a £75m market cap at that time but was still generous - had the share price been maintained.

[greenroom78] 01/2/2017 21:17

Blimey, amazing how the memory distorts over time. Hope I'm never called to court to give evidence on anything. I remembered the bare bones but was way off with the details.

[cockerhoop] 01/2/2017 21:09

Not quite sure they were his motives Greenroom, Duncan sold over a million shares at £2.70 to the EBT using £3m of shareholders cash in the form of a loan (that's since been written down). Interestingly revisiting the RNS he also transferred a million shares from treasury to the EBT at the same time at 26.4p.

[greenroom78] 01/2/2017 17:36

When I first invested (at 50p before the big spike) Soukup had a huge stake. I seem to remember he sold a load into the company's share scheme to reduce his control so that might point to him being conscious of this? (I will have to jog my memory though so don't quote me!).

[greenroom78] 01/2/2017 11:55

Definitely happy to hold, just wondering if shares had to be cancelled or not to boost earnings 'per share'. Thanks for the comments.

[jmf69] 01/2/2017 09:44

Still happy to hold

[rcturner2] 01/2/2017 08:00

Buying the share back at any price below the NAV (which is at least 100p) will always be a good move as the NAV per share will increase.