By Cynical Bear | Thursday 1 September 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Much to my wife’s amusement (and slight horror), I actually gave out a yelp of joy at just gone seven this morning while reading today’s company announcements, as I realised that Metal Tiger (MTR) had broken a long-standing world record. Let me explain…..
At 7am this morning, Metal Tiger issued an RNS announcement headed: “Additional Strategic Investment – Thor Mining“
Not that special you may think, just yet another investment in a subscale miner with Paul Johnson getting a director role and plenty of options, so what, show me something new you may say. But, and it’s a huge but, today was the fourteenth consecutive trading day on which Metal Tiger has issued a material RNS – A NEW WORLD RECORD!!!
And I’m not just talking an ordinary “Price Monitoring Extension” or “Total Voting Rights” type RNS or any of your bog-standard takeover period Form 8.5’s, as I’m afraid that none of them qualify for world record attempts, these are all pure RNS gold, no filler, all killer – see HERE for the full list. In fact, on some days, Paul Johnson, CEO, issued more than one RNS. In total, Metal Tiger has issued an incredible 23 RNS’s in the last 14 trading days.
A slight aside; I’ll be honest and admit that I haven’t checked out all company announcements for all time but if anyone knows a company that has beaten 14 days in a row I’d love to hear it.
Like Bob Beamon’s Long Jump leap in Mexico or Michael Johnson’s 400m time from 1999, that finally went at the recent Olympics, this had been an equally long-standing record as the previous mark of 13 consecutive days was set way back on…um….oh…..hold on a minute….it was 21 April 2016 by, er, Metal Tiger.
Wow, I salute you, PJ, two world records in one year. Just like the glory days of Sergey Bubka breaking the pole vault record on a fortnightly basis by 1cm on each occasion to pocket the world record bonus every time.
Metal Tiger is now so consistent with its announcements, and has been all year, you can literally set your watch by it. In fact, I now use the Metal Tiger RNS alert as my morning alarm. Most of the time they turn up between 8.15 and 8.45, so it a very civilised start to the day; much more preferable than a 7am start!
I can’t quite get my head round the logistics though. Is it someone’s full-time job, other than Paul, to prepare these things?
Looking at it from a potential investor’s point of view briefly, it all feels a bit like white noise now; I’m struggling to get to grips with the key facts – perhaps you could issue an exec summary at the end of each month, Paul? Interesting to note that at close of play on 11 August at the start of this incredible record-breaking run the share price was 3.75p and, as I type, it stands at 3.45p. Hmmm.
Anyway, who really cares about that; let’s focus on the record again as I’ve been trying to calculate the probability of such a run occurring.
I reckon the average plc issues no more than 10 qualifying RNS’s a year but that includes your boring FTSE 100 types, some of whom do little more than a prelims and an interims announcement. Moving down towards the lower reaches of AIM, I would still be surprised if many of the news hungry, placing junkies issue more than 25 a year, about 1 every 10 trading days.
Using that 1 in 10 ratio, the odds of issuing a material announcement 14 days in a row stretches into the trillions. Add in the fact that Metal Tiger also did 13 earlier in the year and smoke starts coming out of my calculator; but hey, I’m no mathematician and there may be some conditional probability at play to take into account here and, in any event, as you can probably tell, I prefer my sporting analogies.
I reckon 14 days in a row is equivalent to Tiger’s 14 majors or Pistol Pete’s 14 slams. Very impressive.
But…..don’t be satisfied at just 14, Paul, you’ve got the Fed Express in your sights at 17 and the golfing GOAT, Jack Nicklaus, at 18.
Why stop there either?
Dare to dream, Paul Johnson, dare to dream. Put this record out of sight. Take it to 20 plus and the main pretender to the throne, Lorne Abony at FastForward Innovations (FFWD), will be left weeping into his cornflakes.
I confidently predict that a mark of anywhere over 20 will stand for many years to come (or until Metal Tiger next needs to do a placing, whichever is sooner).
When this current record run finally comes to an end, I’ll report back with the arrangements for the formal ceremony at which Cheryl Baker will hand over the Guinness World Record certificate.
I’ll be late filing the article though as I will have overslept!
Never miss a story.
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