Primorus Investments Share Discussion Threads

[skyship] 24/5/2021 17:02

CWA1 - Thanks for that. Pavey Ark also recommended II over on the TRIN thread; he too a satisfied IDealing client. So, will take a look. Thnx again...

[cwa1] 24/5/2021 16:27

The problem for us UK domestic investors is that we don't really need to look in to the overseas investors angle, so it is hard to comment BUT as a satisfied iDealing investor I'm also happy with Interactive Investor. Might be worth a look?

[skyship] 24/5/2021 16:21

Q - O/T

I have a trading a/c with IDealing, with whom I am totally satisfied.

However, I need to open another FCA approved online trading a/c that will take overseas investors, as I prefer not to have more than £85k in any one provider - £85k of course being the FCA guarantee limit.

Any recommendations?

[skyship] 24/5/2021 15:55

? Perhaps intended for one of the less erudite posters on the BMN thread...

[megaman2] 24/5/2021 08:15

Curious. I just tried a dummy buy for £20 k was offered c4.7 so absolutely doesn't make sense.

[megaman2] 22/5/2021 09:27

Yes seems that way. Maybe it's from a bmn holder who has realised prim have a big proportion of their assets now in must at entry price of 20 p plus for 1 for 2 warrants at 30p . If r.t.o. is successful in four months or so this may prove to be a very cheap entry points . Enerox is being associated with Idc s.a. goverment contracts with supply from the new electrolyte plant bmn and idc co -own. It's the sole reason I have invested here but I didn't throw all the money in like the last trade at once. If more of the bmn crowd get involved as they realise the opportunity here it won't take much to move the share price up given the low market cap.

[skyship] 22/5/2021 09:10

Yes, but to pay an 8.3% premium just to fill in the one trade does seem rather amateur. Still perhaps Monday will reveal it worthwhile...hope so!

[megaman2] 22/5/2021 08:45

Yes but it was for c £20 k so if you try to buy in 1 hit that's what you get offered.

[skyship] 22/5/2021 08:33

Indeed - a really weird trade as surely would have been easy to buy 100k at 4.8p, then take it from there.

[rental] 21/5/2021 23:16

A Buy at 5.2 today then

[megaman2] 19/5/2021 16:11

Sorry wrong board....

[rental] 19/5/2021 15:16

typical, everything else drops today except for prim,

and I need to buy more ore prim now.

[big7ime] 18/5/2021 16:02

OXF shows what’s possible when one of your investments plans to list

[megaman2] 07/5/2021 06:43

Looks like there will be a cash raise to meet the 25% public share liquidity float requirements at approaching 40 million shares in issue only 2-3% of shares will be in public hands .

[twixy] 06/5/2021 20:13

Interesting- you are right about the prospectus - anything above 10% new equity, according to my Google search. It typically needs to be in circulation at least two weeks before the new stock is traded.Every day is a school day!

[megaman2] 06/5/2021 18:12

Don't they need to issue a prospectus? As must is main market listed how will they meet the 25 % requirement for shares to be publicly held?

[mallorca 9] 06/5/2021 12:17

Beginning to move higher.

I expect the MUST temporary suspension to end by end next week. Let's see what their share price is when trading restarts and how many shares PRIM has.

I'm sure that we will make an immediate gain.

[megaman2] 06/5/2021 05:22

I have invested here very recently c £15 k primarily for a punt on enerox. I don't like the different hats the directors are wearing especially as their entry level into must was significantly lower but I'm willing to overlook this as I see a big potential short term win. I have to be honest and hold my hands up that I did limited research into Prims other assets as it was very difficult to get info . I'm not convinced this RTO is over as I see the main share holders wanting to gain access to the markets for a more liquid exit route. So we might see their shares swapped into must and enerox becoming 100 % must. In 5h3 short term they might just be satisfied to have enerox given a finite value by the market and access to further cash if required.

I also believe that the warrants will be in the money from day 1. My rough calculations with warrants are a £3.2 million investment from prim could very quickly become c £5.8 million. So an increase of £2.6 million to Prims market cap. So about a 35% uplift in price and hence my investment. I'm thinking weeks not months but clearly it's just my musings and speculation. I also hold some shares in must at a 25 p average but nobody offered me any warrants!!!! Part of the reason I was attracted to invest here. I'm surprised other bushveld minerals holders haven't piled in as they have such a conviction about the future of vrfbs and whilst bmn will do well it will be the likes of enerox the real action will take place.

[kinbasket] 05/5/2021 11:07

megaman, Yes. Schoolboy exchange rate error on my part. It does mean the existing Must shareholders keep more pie for doing f-all.

Agree on the valuation of Enerox. Based simply on MWH, Invinitys 18Mwh @EV of £113m vs Enerox at a runrate of 26mwh on a value of only $68m.

Enerox Looks roughly a third of the price. Before the growth the funding enables.

[megaman2] 05/5/2021 09:30

Check your calculation it will be less than 30million additional shares . Anyway I noticed elsewhere somebody see enerox 1 year behind invinity. I don't agree with that cellcube have been about for years. Last half 2020 they received more orders than invinity did all year...they are targeting big numbers next year. Also if the r.to. is just this there will be a miniscule free float of shares. Must could easily trade with a value attributable to enerox in excess of £200 million. Bmn sold down its invinity shares c 8% to reinvest here it now has a much larger holding and it will no doubt be directing customers to cellcube. Very excited about this investment can see enerox at 1 billion plus market cap if it reaches the bottom end of it's 2025 600mwh goal.

[kinbasket] 04/5/2021 08:26

I realise the above is incorrect. It assumes Prim will effectively own a third of Must but that's not the case. There are preexisting shareholders being diluted who will still be involved. They aren't rolling it all in with the deal. True SPAC style, bit of bubbly for the lads. Oi Oi!

Current shares in issue are 10,281,600
new converted shares will be 40,000,000
Total 50,281,600
Prim shares 12,500,000 (2.5m converted @20p)
So prim will own 24.86 of Must which is only 2.74% of Enerox.

Preexisting shareholders will own 1/5th of the Newco for doing lots of very very hard work..

What's much more interesting is the assumed value of Enerox when compared to Invinity.

[kinbasket] 02/5/2021 16:51

So I ran the maths back quickly and I make it Prim will effectively own 3.68% of Enerox valuing the company at just shy of $68m. Plus a few wts that may or may not end up having a value. Feel free to correct.

Don't know whether that's a lot or a little. If they scale up in the way suggested on the website it could be a good investment. Nice sector too. popular with the kids and all the ESG hipsters..

[mallorca 9] 01/5/2021 11:21

I'd expect their shares (MUST) to be out of temporary suspension sometime 1st half May.
We will then see where they trade and what the value of Prim's investment is.
The Warrants that Prim will also hold in MUST may also become very valuable.
It was essential to me that Prim's next investment was in a listed company so that the investment was more liquid than others. This ticks that box nicely.

Moving away from MUST .....
Fresho is doing very well ..... we may well see them being floated this year (IPO).
That would be great news for Prim.
Prim owns 5% of Fresho on a fully diluted basis .
It also owns 4% of Engage on a fully diluted basis.

I'm very happy to hold Prim.

Given that RL recently upped his personal stake in PRIM to 21% of the business, paying up to 4.6p per share, then I feel that today's price is a very good entry / top up point. It also gives me confidence that the stock will not be diluted below that point in any future fund raise.