Aborted De-risk Manoeuvre

Over the weekend I looked through my portfolio to see if there was some more de-risking I could do, and further my plans to increase my overall holding in IQE:IQE to 10% of my portfolio.

I decided that the share to sacrifice would be RED:RedT Energy in my SIPP. This was up by 11% and I still have £1,000 worth in my ISA, which I think is the most I should be risking in this volatile share.

This morning the RED:RedT Energy share price went up by 9% so I was in like a shot and sold 12,923 for 10.57p after paying 8.37p, making £266.22 (23.8%) profit.

I was about to re-invest the proceeds in IQE:IQE when I paused. JLP:Jubilee Platinum had soared at the end of last week when the announcement was made that the Tjate mining licence had been approved. This is now my Star Share, but I noticed the price had dropped significantly today.

It appears there are warrants being sold off, and with news of maiden platinum production at Hernic almost certainly imminent, work about to start on a small platinum plant at ASA and rumours of another project in the pipeline, I couldn't help myself.

I bought another 22,525 at 5.955p costing £1,350.31 taking my total holding to 110,306. This is now 7% of my portfolio and I really believe it has the potential to be huge, with a multi-billion dollar asset at Tjate and imminent low-cost platinum production. The biggest risk to potential wealth is that a takeover bid comes in while the market cap is still only £58.6m.

Despite the drop in share price this week, JLP:Jubileee Platinum is still my Star Share by £600 with potential profit of £1,840. The nearest rival is CAML:Central Asia Metals at £1,257 despite a recent dip, and not far behind is IQE:IQE on £1,208.

OPTI:Optibiotix is still Nemesis Share, losing £1,005.  KIBO:Kibo Mining isn't far behind losing £991, and AFG:Aquatic Food is losing £972. Rather amazing really, as I thought Nemesis Share would be AFPO:African Potash by now, as it's down 101% and would cost me £6.38 if I were to sell it, losing £714. They've just paid their director's salaries in shares the cash is so tight. Normally I'd be encouraged by that, but it smacks of desperation.

It's been a very eventful day even without my sale and purchase. BLUR:Blur Group announced a new contract and the price finished the day up by 118%. At one point during the day it was up over 200% so someone made a lot of money. Despite this, my holding is still 60% down and I doubt will be in profit for a long, long time if ever.

There were three other double-digit risers today, with RED:RedT Energy climbing 11% and prompting me to sell half my holding. If I'd waited a few more hours I would have got 2% more than I got and paid 3% less for JLP:Jubileee Platinum - never mind...

RED:RedstoneConnect was up 10% after announcing a swing into profit, which is great news for my trading account where they are only down by £51 so a small increase will see me start thinking about how much short term profit to take.

My most sleepy share TND:Tandem Group climbed a whopping 24% after announcing a very positive trading statement. These are still 40% down and losing £435 but there's a glimmer of hope I'll be able to get rid of them soon, as with a P/E ratio of only 6 and increasing profits, they could be on for a major re-rate.

Great news that both AMYT:Amryt Pharma and OPTI:Optibiotix have recovered a little, off-setting the effect of the (temporary) drop in JLP:Jubilee Platinum so I'm only down by £162 on last week despite banking a load of profit.

Tomorrow LOOK:Lookers release their results and based on previous trading statements I expect them to be good. That share has been really irritating as it's been 30% down ever since Brexit and has a puny P/E ratio of just 10. The market for second hand cars is strong, and they have made some great acquisitions lately, but I have £2,000 tied up in them and am losing £607. They are in my standard share account so I would love to be able to sell them for a small profit and transfer the funds to my ISA in April to add some more IQE:IQE, but I may be too late if the price of IQE keeps going up at this rate.

I have a feeling that if a number of things could all come together over the next few days, there's a real hope the combined portfolio could finally get into profit. Every time it looks imminent something horrible scuppers it, but this week I may just hold my breath...