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The Tooting Fusspot surfaces

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1 mins. to read
The Tooting Fusspot surfaces

Thank goodness that Christmas is over. It is an absurdly long compulsory break. As Christopher Fildes pointed out thirty years ago banks do not need holidays even if people do.

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Pantheon (LON:PANR) came up with more drilling results last week. I am told that they are very bullish and I am therefore inclined to think that PANR is on its way back up again. Now 86p offer.

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Cadiz (NASDAQ:CDZI) have just announced that the specialist investor Water Asset Management LLC have bought a few thousand more shares at up to $12.3. It may not seem much but given that this investor is arguably well informed about this industry it is encouraging.


(Incidentally, the reporting Form 4 is almost as unclear as the shareholding disclosure notice adopted over here. Lest I be thought the Tooting Fusspot I stress that even a partner in Slaughter and May once told me that our current form is hard to understand. Get that.)

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Lonmin (LON:LMI) keeps ticking back up. Now 150p its target is 300p. I know those grasping little rotters, the ANC, are in the background but South Africa needs this company to succeed. There is circa $4bn of sunk and recoverable cost in contrast to the current capitalisation of just $550m.

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Meanwhile my nap for 2017 REA (LON:RE.) is now 350p. There is a long way further to go. It all depends upon a bid if we are to get to 700p but there appears to be little downside here even if FTSE comes off 10%.

Comments (1)

  • Daniel Victor says:

    I am short Cadiz.I looked at the form 8-K which accompanied their latest debt refinancing package [not a good sign for a company with little income].In it you may see details of the issue of equity to pay interest on said bonds,with a lock-in that ends on the 28th of May 2017.Watch out for squalls after that date.

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