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Earnings like to be up with volatility increasing every week now. I wouldn't call this "fully valued" untill over £10.
AceOfClubs, I really do not want to agree with you, however, the facts speak for themselves! I have enormous concerns regarding TastyTrader since their results are unclear! I shall be hanging on for the dividend since I bought these shares at a much lower price. Good luck.
Sold out this morning after holding for years in an ISA. Looks fully valued to me - put half the proceeds into PLUS500. Have lost any faith in IGG management after the last results - the numbers told a completely different story to the managements' self-praise. PLUS500 management is also over-remunerated but have a better track record and a more active and nimble approach to a changing market.
AceOfClubs
Are we ignoring the declining number of users? why is this happening?
"revenues more or less unchanged from last year at £240.1m": how is this even a positive?
With the update, but still well below peak prices.
Hoping to see £10 + at sometime in the future - in the meantime happy to sit back on my 535p average price
Well, in that case, it probably means it is still loss-making, IMO.
I would go as far to say that I would find it inconceivable that they would not use the word 'profit' in relation to TT if it were so.
Anyway, I remain interested in what the new CEO says once he has settled in.
He has certainly got a nice welcome package! - but if he turns this outfit around properly, then it will likely provide fair value for the shareholders. Like I said before, I hope so, because I would be delighted to rejoin here. GLA.
Https://www.sec.gov/Archives/edgar/data/1647386/000164738623000007/FY23-public.pdf
I found this but can't make head or tail of it!
The successful/failure of TT financial results would be a good question to be answered, if need be at the next AGM.
I very briefly glanced over that RNS. Does it include a strike price, or are they his, come what may?
"let's see what the new boss has to say, once he has joined,"
This mornings RNS informs us he has just been awarded free share options worth ~ £1.25M - so perhaps his first words should be "thanks very much"?
He has certainly laid down a marker as to where his priorities lie.
AceOfClubs
If TT was profitable, IMO they would have been highlighting that (shouting it from the rooftops) in the recent RNS.
Typically, when a company only mentions revenue growth, it usually means that it is loss making, in my experience.
Happy to hear differently, if anyone here can dispute that TT is not profitable at the time of print.
As for the core business: rising costs and reduced revenue, from what I can see, but still a cash machine.
If the new boss can make some sensible changes, appropriate further cost cutting and make TT profitable, then no reason why this cannot become a stock market darling IMO.
FCF still good. The platform itself IMO remains excellent and strong leadership should fix the issues, to my mind.
But - let's see what the new boss has to say, once he has joined, and gives his first market update. GLA.
Can anyone give a link to the success failure or success for the above (which is part of the IG Group). I can't find any financial data?
"Continued execution of the strategy, with a sharp focus on clients, costs and capital has served the Group well in soft market conditions to deliver attractive margins and returns to shareholders."
Reality: Active clients declined 5% on comparatives. Reality: Costs increased 11% YoY – out of control - whilst trading revenue decreased 19%. It can’t cost too much to collect the interest on clients’ money! Trading income and the losses incurred by tastytrade remain undisclosed.
Charlie Rozes, Acting Chief Executive Officer, commented: “It’s encouraging to see the benefits of our diversification strategy paying off”. Dishonest and/or delusional.
AceOfClubs
I had concerns before this update. To my mind, it was actually worse than I expected. I agree the new CEO has his work cut out; I think quite a lot more cost reductions should be initiated. IMO, the buy backs are limiting price discovery here at the moment.
I am not holding any here now, but I am watching with interest to see how the new CEO settles in when he joins officially (I presume he is already making a start on getting to grips with the business).
Hopefully nothing in the closet to come out. Not suggesting that there will be, to be clear, but it will be good to hear from him when the time comes. And what his vision/strategy will be.
I want to get back in here. I just want to see a compelling case to do so first. It might of course mean I need to pay more for shares than today, but so be it. GLA.
Yes, I was not expecting this at all after recent positive momentum and good updates from plus and cmc. New guy will have his hands full for sure.
I've been a long time bull of this stock, but these figures came out of nowhere for me. Very disappointing indeed, particularly after the good CMC figures. That 90m fall in trading revenue really is a kick in the guts. Only bright point is a small rise in the divvy. New CEO has his work cut out :-(
My biggest concern is that they have been unable to fix this despite their IT guys working all night on it, they won't tell you via the website there is a problem but I can assure you after many emails and several incident numbers they know this is a big problem..... It all started after the scheduled maintenance at the weekend, i sold my IG shares as i have a feeling there is more to this than the 'bug" they told me about. It begins to work and then the entire alerts system crashes again.
The entire system has a bug, its been like this for 24 hrs, however, i have had an issue with the alerts not resetting correctly for 2 months. Terrible service I'm getting from them. Im in the process of moving brokers after 9 years with IG and until recetly they have been fantastic.
Is anybody else struggling with Alerts on there platform
Good job we have a new CEO coming soon. JF would have probably bought them for multiples of their current SP :)
Robinhood will be a competitor to HL, not IG, and even that will only happen when they also offer UK share trading - it's only US for now. RH came to the market in 2021, since when, the stock is down 75%, and they still aren't tuning a profit. Don't think we should have too many sleepless nights over them....:-)
Bubba was talking babba
Bubba - looks like you called this one wrong old fruit!!!
RNS out with new appointment of CEO - I like that appointment too and so does the market clearly!!! GLA
I would suggest that IG and the other mature operations in this space are well versed in the regulatory direction of travel.
It is more likely that scrutiny will fall on RH, for the reasons given previously, all of which are in the public domain too, so not simply idle chatter.
But I agree that consolidation in this space may well happen at some point. Such things are a part of the natural cycle.
I felt, and still do feel, like this one could be an attractive target one day.
If this happens, IMO it would be at a price materially north of where we are today.
With robinhood moving into town
The scrutiny risk from the government will hurt brokers especially ones with leveraged products
My thesis is a lot of brokers will be sold privately or consolidated via mergers inside the next 5 years
History will repeat itself as it usually does