A “£1.4 million Grant Secured”-titled announcement from Strip Tinning Holdings (STG) which it emphasises as “a clear endorsement of Strip Tinning's capabilities and harnesses future growth ambitions” and the shares are currently 3.5% higher in response to 75p. So what’s the situation here now?
Previously writing on company which describes itself as “a leading supplier of specialist connectors to the automotive sector”, Strip Tinning Holdings (STG), last month with the shares up to 105p I questioned just how “significant” is the new ‘nomination’? and concluded I certainly continued to avoid. The shares most recently closed at 97.5p... and now a “Contract Update” announcement.
Strip Tinning (STG) “is pleased to announce it has secured a significant new 5 year nomination with BMW for its Glazing division, underlining Strip Tinning's position as a leading supplier of specialist connectors to the Glazing sector for all classes of automotive vehicles manufactured worldwide”. With the shares currently responding more than 6% higher to 105p, just how “significant” is the new nomination?
Previously writing on supplier of specialist connectors to the automotive sector Strip Tinning Holdings (STG), earlier this week I noted the shares down to 115p from a 185p AIM IPO little over three months earlier after a trading warning, though the company stating “great care is being taken to ensure that overheads are reduced where appropriate in line with lower than budgeted sales… in addition, the company is currently putting through a number of price rises across its product range”. And now a director share purchase. Good news?...
On 16th February Strip Tinning Holdings (STG), describing itself as “a leading supplier of specialist connectors to the automotive sector”, was “pleased to announce the admission… to trading on AIM… £11.5 million of gross proceeds have been raised… at a price of 185 pence per ordinary share… £8.0 million for the company and £3.5 million for certain selling shareholders… The directors believe the placing and admission will enable the company to accelerate its growth plans and underpin its early mover advantage in the EV battery sector, further enhance its profile in the markets in which it operates and assist with attracting, retaining and incentivising high calibre employees”. So what of now a “trading update” little over three months later?...
Earlier this year I exclusively reported the licence granted by The Crown Estates to the Gold Mines Of Wales portfolio (GMOW) had expired. Not only had this licence expired but also a competing group who owned the land at the Gwyn was in the running for the Gwynfynydd mining rights. This was always going to be bad news for Stellar Resources (STG), as proven by yesterday’s RNS, which confirmed that GMOW has indeed lost the rights to Gwynfynydd.
A little while ago I quizzed Stellar Resources (STG) Ex- Chairman and current director of Gold Mines of wales (GMOW) David Lenigas on its progress from both the Clogau Gold mine and the Gwynfynydd gold mine which comes under the exclusivity agreement covering the Dolgellau gold belt which has been heavily promoted over the years, Even Kate & William fund their names dropped in.
Stellar Resources (STG) has been yet another company connected to serial entrepreneur David Lenigas which has been a disaster for its long-term shareholders. Sure, insiders and the odd lucky trading punter have made cash on this stock, but for the overwhelming majority of Stellar’s small army of shareholders this has been a shockingly poor investment.
