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"pakka local machi"
Do you still own these shares? if so what do you think it share price?
pakka local machi
I think Mark's hands are tied like many small companies waiting for the airline industry to open up. Clearly their entrepreneurship at the beginning of the pandemic helped them to get in a position to survive. Without that I doubt there would have been an AIR BB to post on. They are all over the market when they have good news to shout about, but that quickly evaporated by the end of the summer. Clearly even the rich Jetset have not had the freedom to travel , just lots of enquiries. Have to judge what shape the business will take when global travel opens up. In his own words visibility still unclear. Until then they have the divi covered this year but I don't really see the point as they have a business to rebuild. Its not like they have massive income or revenue, just a decent cash pile thanks to the placing, which will evaporate pretty quick.
Yes, no idea who actually writes these RNS.
Perhaps a harbinger of what to expect in the dawning age of illiteracy.
oilheadgame sounds like you know Tamil.
... running to Kovil (temple) not possible in this lock down :)
Yes it does seem a little contradictory to say that visibility is poor but we’re also confident of at least 4.2m PBT for the year.
It is also a little down in the mouth on that basis too. If you take him at his word that this is the base case for the year it represents an 8x EV/PBT. Not bad for a worst case scenario IMO.
kadavul, only he can save you my friend. Not good update here at all.
GOD SAVE YOU!! Run to Kovil.
Briffa is most definitely a glass half-empty person, isn't he?
How can a statement such as this one possibly be made, only three weeks into the new financial year?
"The Board's current base-case expectation for FY22 is to deliver profits in line with the financial year ended 31 January 2020, despite the continued global restrictions on passenger movements."
So, what has been done to reposition AIR for the future market opprtunities in new markets where offices have been set up? Are they simply nice flags on the map? What are the plans for the recovery situation in UK and Europe which is bound to come. perhaps sooner than anyone expected? Does AIR simply sit there, waiting for the phone to ring?
Depressingly passive management. No wonder the sp has tanked today, reading that.
"A further update will be provided in February ahead of the close period." Quoted in the trading update 20 Jan 2021 RNS.
"Shippers are turning to airfreight because of Brexit and other difficulties affecting surface freight, says charter firm Air Partner.
Chief executive Mark Briffa, said: “Transporting cargo via sea is proving extremely challenging, so we are experiencing a growing number of enquiries for air charter. Currently around 50% of business in our freight division is coming from transporting goods that would usually go via sea transportation. While the main industries turning to air charter are energy, automotive, aerospace and marine, we are also seeing interest from some major UK retailers that want to minimise disruption to their supply chains.”
He added that businesses that had stockpiled goods in the run up to Brexit are now needing to restock as these supplies are beginning to dwindle.
Air Partner is also seeing higher demand for requests to transport PPE globally, with most supplies coming from Asia to countries that are preparing for national vaccination programmes and require items such as protective gloves."
https://www.fbj-online.com/hard-pressed-shippers-take-to-the-air/
Yes agree. It's so interesting how the stock generally follows the ebbs and flows of the airline sector when their business model and capital allocation is so different, in the past I have always treated a calamity in the sector as a buying opportunity for AIR but I'm looking for Mark to return some of the 2020 profit to investors in February before I reassert my allegiance!
Lord Lee of Trafford quoted in the Sunday Times as this stock being top of his list meaning he will probably look to increase his already substantial holding?
Yes after a good start, the day ended red yesterday so the market was not that overly impressed either. With no divisional breakdown its a bit difficult to assess but going back to the H1 announcement, it states that private jets business trading was extremely difficult, which was surprising given what this article suggests:-
https://www.theguardian.com/business/2021/jan/21/wealthy-uk-flyers-opt-for-private-jets-to-evade-covid-and-lockdowns
I would have thought AIR would be doing ok in this sector. They do state that pricate jet side is improving and so maybe it has picked up since H1 announcement.
I've held AIR for about ten years, following first my father who took inspiration from the FT's John Lee.
I favour it for the capital-light investment angle into the airline industry but there has been more than a little, ahem, turbulence in recent years. There have been fairly regular attempts at globalisation which seem to have fallen flat followed by sharp retrenchment - I'm a bit concerned that the lumpy profits of H1 will trigger some more bullish spending on expansion. What's different this time?
Reflecting on the H1 announcement, AIR referenced PBT of £10.5m which makes today's FY announcement of £11.5m feel lacklustre, suggesting a meagre £1m in H2. Has this flopped a bit in spite of what must have been some superb Brexit logistics opportunities before Christmas?
Interested in other long-term holders' views.
Very creditable performance given the circumstances and much overlooked by the market who don't see the more profitable niche that AIR inhabits. Having said that, it should also benefit too from a return to more normal air travel in coming year. Thanks to the regulars on here for keeping our spirits up during these difficult times.
Mm. Very economical with words as well as cutting costs! It is very much their style. Whatever the circumstances this is actually a very good performance. £11.5 million compared to £4.2 million the previous year. A further update next month. Hopefully with a bit more news on Brexit, airfreight, jet card, new offices abroad and medical delivery would be useful Mark!
Been on my watch list for a while, certainly worth more than 60-70p even if you assume future profits won't be the same as this year, does look like a £5-6m net business so 100p seems fair value.
At the time of the half year results, published on 30 September 2020, the Board reported that it expected modest profits in the second half of the year. However, despite global travel restrictions, the Group has performed better than expected and ahead of market expectations. Accordingly, the Board now expects to announce an underlying profit before tax of no less than £11.5 million for the full year.
https://www.londonstockexchange.com/news-article/AIR/trading-update/14833079
Ah good premier miton selling down having taken part in placing @75p. Last 2 stock they sold down doubled immediately, one being KMK. Terribly impatient Miton.
Why on earth are we not flying fish out of Scotland to Europe and the government can cough up the difference instead of letting it rot. I see European customs determined to be juvenile confiscating sandwiches now. You can hardly believe these idiots in the middle of such a pandemic!
I bought in because of the expectation of a corker of a trading update end of Jan or Feb. I believe the company has done well over the last 6 months; any news has always been good and about how busy they are in chartering business. And of course border issues, whether brexit or covid, tend to see rich folk and high value goods going air charter way. I have good expectations, dyor.
Shareholder name Amount % Holding
Hargreaves Lansdown Private Clients 6,482,225 10.20
TB Amati UK Smaller Companies Fund 5,233,334 8.23
Schroder UK Smaller Companies 3,964,919 6.24
LF Tellworth UK Smaller Companies Fund 3,726,120 5.86
Schroder Institutional UK Smaller Companies Fund 3,390,000 5.33
Private Holders 3,089,283 4.86
Lord Lee of Trafford 2,997,250 4.72
LF Milton UK Multi Cap Income Fund 2,958,999 4.66
Barclays Smart Investor Private Clients 2,496,640 3.93
Interactive Investor ISA clients 2,086,077 3.28
*As of 16th September 2020
Couple of updates on their web page . Mentions expected surge in freight activity due to Brexit/ customs problems obviously. Also nice mention about their charity work locally.
Are we expecting an RNS update soon?
It would be nice if the politicians, at least, did not come back.
They'll be flying all the brokers off to the empty ski slopes of Europe and a few politicians no doubt. Hope they're all masked up
"Mark Briffa, the CEO of the global aircraft charter firm Air Partner, said there was a surge in demand for its services in the past few days as wealthy individuals seek ways to circumvent the restrictions.
“This includes private jets for individuals and families, as well as businesses wanting to charter larger aircraft so they can urgently fly employees home for Christmas after commercial flights have been canceled.”
https://www.thesouthafrican.com/news/uk/london-christmas-lockdown-no-problem-for-wealthy-brits-fleeing-the-city-in-private-jets/