Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Valuation: Long-term value opportunity remains We continue to view Augean as a substantial long-term value opportunity with substantial upside from the new strategic markets. While exact timing of the pace of growth in these markets is subject to a range of factors, the scale provides a counterbalance for the longer-term investor. Given progress to date, our base case DCF-based fair value is 75.6p, although a more bearish view of the rate of operational progress yields a fair value of 45.5p per share.
There are hints that Augean may start paying dividens this year which tends to increase the price in the short term. I know that some of the employees are quite positive about the future. In the past I seem to reccollect that there have been offers made to purchase the company but the price offered was too low. As the waste market is quite competetive and Aug now have interestes in LLR waste, an incinerator and off-shore interests I wouldn't be surprised if more offers are made for the business. I'm looking to hold the share for the long term to see how things develop. Sometimes you have to go with instinct rather than what the ratios say.
Considering getting some more shares now the price has dropped a bit. Pity about the 5.5% spread.
Oh well. I'm still going to keep my holding.
Could it be the year that AUG pays a dividend or perhaps a bonus to AUG employees? Or both?
I wonder if Augean is to expand Avonmouth site and add a tank washing facility?
Valuation: Re-rating potential as delivery shown We maintain our positive view on Augean and believe that as management demonstrates its ability to deliver both the new strategic markets and efficiency improvements in the existing business, the shares have the potential to re-rate and move towards our mid-high level fair value between 54-82p per share. In addition, with the capital reduction now confirmed, the potential for a dividend payment has also moved a step closer.
http://www.edisoninvestmentresearch.co.uk/researchreports/Augean250712update.pdf
Commenting on the first half of the year Paul Blackler, CEO, said: "We have continued to make considerable progress with the delivery phase of our strategic opportunities during the first half of the year. To date we have secured two contracts for the disposal of Low Level Waste and we have successfully integrated the new businesses at East Kent Waste Recovery Facility, Augean North Sea Services and Cooks Hole. Trading has been in line with revised expectations and we have taken action to mitigate the challenging environment in the Group's traditional waste markets." The Group's half year results to 30th June 2012 are due to be announced on 25th September 2012.
CONT Management has continued to focus on improving the performance of the new Waste Networks and Oil & Gas Services divisions and is pleased to announce the appointment of a new Director to run the Waste Network division. Trading in these divisions remains challenging but the Group has made good progress to deliver the integration of the new businesses announced during the first half of the year. The activities at East Kent Waste Recovery Facility (incineration), Augean North Sea Services (offshore waste management) and Cooks Hole (minerals extraction) are all now trading as planned. Investment in the new businesses, offset by positive cash flows from operations and control of capital expenditure, led to an increase in net debt at the end of the period to approximately £6.6m (H2 2011: £4.0m), including normal capital expenditure and the £2.05m share purchase and £1.0m loan to Augean North Sea Services. As announced in the 2011 Annual Report, Roger McDowell resigned as Chairman of the Board following the Annual General Meeting on 8th June 2012, retaining his role as a non-executive director. The Board is pleased to confirm the election of Jim Meredith as Chairman of the Board. The Board is also pleased to confirm that, following hearings in the High Court on 18th and 27th June, the capital reduction of Augean plc was confirmed on 4th July. The share premium account of the company (valued at £114.9m) will be cancelled and reflected in the Group's accounts for the year ending 31st December 2012.
Pre-close Trading Update Augean plc, one of the UK's market leaders in the management of hazardous waste, is pleased to update the market prior to commencement of its close period ahead of issuing its half year results for the 6 months ended 30th June 2012. Trading during the first half of the year has been in line with the Board's revised expectations despite limited growth in the Group's traditional waste markets. This has been supported by a strong performance from the Land Resources division during the first quarter of the year, with total waste volumes into the Group's landfill sites increasing 6.7% during the first six months to 192,087 tonnes (H2 2011: 179,952 tonnes). On 23rd July the Group received notification that the application for permission to appeal to the Supreme Court against the decision by the Secretary of State to allow disposal of Low Level Waste at East Northants Resource Management Facility (ENRMF) had been refused. This concludes the legal process and confirms that the original planning permission was lawful. The Group has now secured two contracts for the disposal of LLW, through the framework managed by Low Level Waste Repository Limited. Numerous enquiries have also been received from new customers for smaller volumes and the Board is therefore confident of delivering the forecast 2,000 tonnes for the year, weighted towards the second half.
http://www.investegate.co.uk/Article.aspx?id=201207240700093123I
Was mine bought it with the money my uncle left me lol
1.1mill trade.?..
If your into companies turning waste into energy check out ked "Kedco announces opening day for Newry plant 10 May 2012 | 08:45am StockMarketWire.com - Renewable energy group Kedco will hold the opening day for its plant in Newry, Co Down, Northern Ireland on 27 June. This will mark the exportation of power to the grid from the biomass electricity and heat generation plant. Chief executive Gerry Madden said: "This is a significant event for the company and marks Kedco's turning point from being solely a clean energy project developer to a clean energy producer.""
Could get very interesting here......GLA
Does anyone know if Augean are shutting their Avonmouth site and transferring the business to the north of England?
Investment summary: Results are just the start Company description: Hazardous waste management Since inception, Augean has built up a significant business in complete hazardous waste management, encompassing assessment, recycling, treatment and disposal. It operates this through a UK-wide network of well-invested strategic sites managed under strict quality procedures, which places the group at the forefront of the hazardous waste industry. Valuation: Moving beyond the medium case We believe the impact of LLW is not yet reflected in the current rating, which is merely tracking recovery in the core business and hence substantial potential upside remains. We run three cases: • Low case. Little volume growth and recovery in the treatment divisions to break-even. We believe this is a very bearish scenario, yielding fair value of 33p/share. • Medium case. Single-digit volume growth and a steady return to profit in treatment divisions with margins <10%. Reflects ongoing operational improvement and business development efforts, yielding a fair value of 54p/share. • High case. The recovery as described in the medium case, plus small initial contributions from LLW, in line with management’s guidance for 2012, plus 5% growth thereafter. A conservative view of the LLW potential in our view, yielding a fair value of 82p/share.
Valuation: Further clarity should lead to re-rating 2012 could well see the shares re-rate as further evidence of management’s ability to deliver the recovery in the core and expected initial volumes of LLW becomes reality and upgraded forecasts are met. With a bearish low case valuation around the current share price, we believe the opportunity to participate in the upside to our conservative mid and high value cases of c 54p and 82p is considerable.
I bought these donkeys years ago at 265p after a newspaper tipster in the times i believe said these would rocket!! How wrong he was- Oh well, onwards and upwards i guess.....GLA
Over the coming weeks the Group intends to continue engaging with clients in the nuclear decommissioning, medical, site remediation and research markets to develop commercial opportunities and if the Court of Appeal rules in favour of Augean the Group expects the Site to be made available to the entire LLW market during the first quarter of 2012.
Augean plc, one of the UK's market leaders in the management of hazardous waste, has implemented its lawful planning permission at the East Northants Resource Management Facility ("ENRMF" or the "Site") and commenced the receipt of consignments of Low Level Waste ("LLW").