Fit Investment Ideas

I wrote here on our new long Hafnia position this week. I enclose Pareto comment on Hafnia from this morning. I enclose a thesis on Rec Silicon Short. We sold shares short yesterday. Pareto comment on Hafnia: HAFNI NO – HAFNI: Another day of significant increases in Asian MR-rates, up 10-15% and have now doubledContinue reading “Hafnia Long, Rec Silicon Short”

Last year the two top trades were Product and LNG tankers. Both trades doubled invested capital. Last week Oaktree sold half of their position in Hafnia that depressed Hafnia share price by 10%. Our family office bought in the SPO and bought in the market on that day so we are fully positioned in HafniaContinue reading “Why We Bought Hafnia”

Calliditas is a commercial stage biopharmaceutical company based in Sweden. Its first product Tarpeyeo has been selling in the US and its sales are doubling every quarter. European sales should start in 2023 with EU partner Stada “becoming the first and only approved medication for IgA nephropathy in EU for patients with primary IgA with rapidContinue reading “Redeye on Calliditas: 200% upside within 12-24 months”

Linkfire is down 90% since its IPO despite growing strongly, strong improvements in financial performance, cash breakeven to be reached in 1Q23, and new contracts with strong partners. The only mistake they made – they raised capital in a worst time. We believe Linkfire reached a bottom and should be one of the most promisingContinue reading “Pareto on Linkfire – Valuation Remains Too Low”

Africa Energy is a 10% owner of the block 11B/12B, on of the largest gas condensate discoveries globally in the last few years. The block is majority owned and operated by Total. Total is now working on commercialisation of the plot. We had a call with Africa Energy yesterday. Below are minutes of the call.Continue reading “Africa Energy – Minutes of the Call with the Company”

Finansavisen yesterday reported about a letter sent to the Mintra CEO Kevin Short by a shareholder asking for a buyback. Both the letter and the link to the article is below: Dear Kevin, We have been your loyal shareholder since the Mintra IPO and have bought additional shares in the market. We are writing toContinue reading “Finansavisen: Activist letter to Mintra asking for buyback”

TotalEnergies is proceeding with its production rights application. Total has applied for environmental authorization as part of the production right application for Block 11B/12B. It is a next step to production on the 11B/12B. Fearnley Securities note from today TotalEnergies has applied for environmental authorization as part of the production right application for Block 11B/12BContinue reading “Africa Energy – TotalEnergies Proceeds with Block 11B/12B – applied for environmental authorization”

This is the second installment of our best ideas for 2023. Mintra more than doubled this year, but is still 50% below its IPO price. Sparebank and Pareto analysts have Mintra as one of the top ideas. It is still one of the cheapest against peers, nicely profitable and cash generating, net cash positive, newContinue reading “Mintra – Top Idea for 2023 – Takeover Target Play”

Xbrane is a leading Swedish biosimilar with a 1.9 billion SEK market capitalization and 1.6 billion SEK enterprise value. Xbrane has an EU approval for launch of Ximluci, a Lucentis Biosimilar. The product lunch is scheduled for 1Q2023. Expect material re-rating as the sales come in. 3-4x times return candidate over 2 years horizon. Norweigan brokersContinue reading “Xbrane – Our Top Trade Idea for 2023/24”

Linkfire delivered strong report. It is down 90% since its IPO in 2020. Retail sold the stock on concerns about the capital raisings. The Linkfire recapitalisation happened last week. We have reached bottom, I believe. The company is delivering. One of our top ideas for 2023. Beating expectations across the line Linkfire reported a strongContinue reading “Pareto on Linkfire – Beating expectations across the line”