Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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From 2023 annual report,
“ex ecutive directors are required to build up and maintain an in employment shareholding worth at least 200% of base salary
It’s interesting to note the recent share purchase by CFO. Do any of you guys know if this was a ‘required’ purchase (he must own a certain amount of shares as per terms of his employment contract) or did he just buy on the open market?
Nothing in the results persuades me to buy back in.
We all have 20:20 vision in hindsight,
Not the best results. Never good when profits and revenues are decreasing, however, historically, we do tend to see a much better second half performance.
The B&Q deal looks promising. I think it's also important for us to remember that they're heavily investing in growth at present. Therefore, the profit decrease doesn't seem as dreadful.
Reasons given for profit reduction make sense:
'Investment in transformation to support Velocity strategy
Kazakhstan joint venture performing behind the record performance in FY23, also impacted by dollar exchange rate movements.
Higher interest rates.
Increase in the corporation tax rate'
So, definitely not good to see a decline, however, maybe the 46.2m EBITDA is a more accurate representation of future potential?
In hindsight, wish I sold two days ago and bought back in on the drop - never mind, looks like I'll be in for the interim dividend then. Good luck everybody
The Board remains confident of delivering results for the full year, albeit at the lower end of its expectations.
That's a huge H2 weighting required now to hit the expectations of analysts, not sure how big the drop will be here today but on the first read-through, this appears to be in need of a downgrade on 2024. I'm a follower, not invested but cannot see this worth more than the 20-25p range.
I've sold today, at just over 37p, before results. I've lost out on too many others by holding through pre-results spikes.
I'd only intended this as a quick recovery trade but ended up holding for 6 months. Bought just under 33p hoping for a retrace to c40p. I've also had the dividend so a decent enough trade.
I not ruling out buying back in on any drops.
Certainly good to see Speedy improving their Green Credentials... and positioning themselves to support their customers in achieving that same ambition.
So there is life in the old dog yet.. Very quiet here though. Is everyone on holiday or posting elsewhere these days? Yesterday price rise was clearly a leak ahead of today but we're nicely up this week and long may it continue.
Results next week, on the backdrop of lower inflation and interest rates yields falling allowing borrowers to lock into cheaper rates to fund some home improvements or businesses to consider kicking off some infrastructure investment.
Let's hope we've seen the bottom and we begin to gain some traction again. Money flowing back to FTSE 250 finally!
I just read this
https://www.ajbell.co.uk/articles/latestnews/266975/speedy-hire-acquires-green-power-hire-says-first-half-%E2%80%98satisfactory%E2%80%99
On balance the Greenpower purchase seems like a good move... although it will take some time before the strategic benefits appear on the bottom line.
Agreed, no rhyme or reason. Mind you, yesterday saw a single 2 million share buy - today next to nothing, a little volatile is this share.
1.5% up to 5.5% down in the same morning on no news
what the hell...
Apologies. Bouncing in and out of a decent connection
All cash
F15 - many thanks for clearing that up. Have follow up with a buy.
Speedy paid cash for Greenpower, £10m for the business and took on their £10m debt
Whadda - Yes I saw that. If 'equity' means its £10m in shares held in Treasury bought back at prices including 52p and overs - then how many make £10m now? Could be another case of chucking money away.
The total consideration, which was funded from the Company's existing debt facilities, represented £10m of equity value and assumed debt of £10.2m which was settled at completion
From recent RNS
I thought about a dabble hear too being a holder some while ago. Just not sure iof the exact terms of the deal with Green Power. Are they are paying £10m of the acquisition with shares from Treasury ? That would be a large chunk of what they took so long buying back. Anyone know?
I was thinking about topping up yesterday at these prices but I missed the deadline. So strange that its taking! If we take off the tax right off from the last trading update, the company is making a good profit and is considered really cheap.... quite worrying that it's dropping so much.... not too sure myself tbh, the fundamentals look solid and analysts are also predicting significant future growth. gla
Any thoughts or theories about the near 6% drop today... ??
Fundamentals are improving, as is the economic backdrop... inflation etc. looking better
So why the drop?
You’d have to be a loon to think the £20m went missing after Down left… much more likely it wasn’t controlled for quite some time.
I’d give Mr Evans a chance. You need someone steeped in Hire industry to drive the business. What the past 8 years proved was being a competent administrator was only good at driving a business closer to the grave.
Speedy used to be good at understanding customers and delivering well. Recently, good at saying the right things for governance, and forgetting what they’re trying to do, whilst earning ridiculous bonuses for achieving very little
The opportunity of buying at these levels wont last long. when labour get back in we'll be heading towards 50p
Thanks guys - I work the building trade and speedy is a stalwart. With a bit of money to invest in the battered construction sector, do I buy a house builder or speedy ?. Your constant knocking of speedy both here and on advfn is a classic buy signal .... for Me ....... Happy to be proved wrong, but I've seen these tactics over the decades and IMHO your paid knockers who want to put off buyers.
So I bought - Good Luck and Thanks.
But adding £20m of debt to their existing pile, which in itself was exacerbated by a ruinous share buyback.