Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ex Dividend Thursday so hold for Wednesday,!!!....nice...plus capital growth at these low prices
It would be a surprise to me, if BEG don’t communicate a further acquisition this quarter.
New research note out from Equity Dev reviewing the potential for BEG to push top line revenues towards c £200m pa in next 3-5 years and reaffirming their 175p/share fair value.
Free access to read note / hear summary at:
https://www.equitydevelopment.co.uk/research/strategic-growth-targeting-200m-revenues-by-fy27
Same old story - rinse and repeat, rinse and repeat. Getting close to where I will throw my hand in.
There’s the difference re view on strategy. I don’t find it puzzling at all. They are very clear via RNS in what they are doing and why and like I said, you either believe in that way forward, or you don’t. If you don’t and you’re not underwater, why remain invested here when there are so many alternatives.
I certainly wouldn't buy any more of them just yet. I couldn't make an argument for this being in my top 10 best ideas for small cap companies. That said, with this particular company I will not sell at a loss either - there is no need. I guess I'm saying it is a hold for now. I would add if the price breaks down further - which it might.
The buy and build strategy does not seem to focus on insolvencies, which is puzzling. If anything I suspect this is positioned to do well in a booming property market now.
Sorry to clarify I like buy and build. I work in it
My point for begbies atm is the market in insolvency is up atm. I wouldn’t do deal at the top of the market. This period should be of sufficient growth organically
Also larger admin are far better margin than high volume cvls. If begbies buys smaller insolvency firms you buy more low margin cvls
I’d rather focus on organic growth or acqihire at the bottom. Pick up scale when the market is less boyant
I also think constant dilution isn’t attractive for investors
Yes, opposing views on the company’s strategy is exactly what I'm clearly calling out. What anyone would remain invested in a company where they have stated they don’t agree with the strategy, is beyond me (unless underwater and not wanting to crystallise a loss). It’s like backing a racehorse you don’t believe has any chance of winning.
I guess we will all have our own thoughts on how we think we could do things differently.
But "In Line" will "Do Fine" is how I have always been accustomed to interpreting RNSs.
There are two camps here. Those who state openly that they don’t believe in the strategy of the company and that acquisitions are a distraction (but remain invested) and then those that believe buy and build + elements of diversification are the right way forward for the company.
Tbh id like them to pause deals. Maybe focus more on hiring bigger players. Id also like to see more shares being bought back to offset the dilution we’ve had over last year or so
It’s a shame neither here or FRP have upgraded. You’d be hoping some large admins would be flowing through now
Solid statement plus a new enhanced debt facility, organised ahead of time.
Maybe an eye on a further bolt on.
Finished at £1.08 on 18th Jan. 52 week low was back in October.
We saw a low of 106 on the 18th Jan. Still looking weak but suspect it has found support.
Not down at £1.03 per your prediction as of now (Dartron). Per Results RNS (Dec), we are due a 3rd quarter Trading Update here before end of Feb.
Guess we have to wait any see if there’s anything in there that moves the SP towards your prediction, or further away.
What a sad day for BEG. This is what happens when you just keep issuing shares. People have to sell them to realise the cash they should have received. Look at my post 15th December, 103 looks on the cards. The EBT is less than the amount of shares issued recently.
...Begbies Traynor Group plc announces that it has today applied to the AIM market of the London Stock Exchange for a block listing of 949,141 ordinary 5 pence shares in the Group ("Ordinary Shares"). Admission is expected to occur on 29 December 2023.
... has on 12 January 2024 purchased 100,000 ordinary shares
Yes, buying like that is just what is needed. Without that buying I think it would have hit 103, bottom of channel.
I guess it depends how quickly they start, and how much they buy. I have a few buy backs, where they do it so gently that the price still falls. Though with everything else, I think that is now unlikely here.
Dartron - given your positivity there, will you be revising your "next stop £1.03" prediction?
Ok, as someone who complained at the issue of shares, I wish to note:
1) The recent acquisition involved no new shares issued now or in the future.
2) The RNS today regarding the EBT sounds like less shares will need to be issued from now on, rather BEG will be purchasing shares.
Very happy about both of these.
"Ordinary Shares acquired by the EBT will be used to satisfy the awards of share options granted to employees..
Purchases under the EBT Purchase Plan will be limited to a monthly maximum value of £750,000 with an aggregate limit of £3 million over the term of the plan. The EBT Purchase Plan will, unless terminated by the Trustee at an earlier date, expire on 31 July 2024."
So potentially up to £3M being bought back, rather than printed. Ok, they wont get cancelled as they will get re-distributed, but this is a start. The £3M represents about 1.6% of the mcap if taken at £180. It might also mop up a few weak sellers. Very pleased to see this.
To save you the trouble Dartron, here’s what IC have to say about M&A activity:
“The three businesses acquired since the beginning of the financial year are trading in line with expectations and have increased the breadth of the group’s service offering while strengthening its existing regional presence. M&A aside, the group recorded a creditable 9 per cent organic revenue growth rate, achieved despite a quieter market for its advisory teams.
Management anticipates further growth in insolvency activity and a broadly consistent second half for financial advisory. Property advisory and transactional service volumes also provide cause for encouragement. The expanded “breadth” is also significant from an investment angle in that it acts as a bulwark against potential overexposure to any one business area.”
Clearly not a distraction in their view and in fact the exact opposite.
I think it is supposed to be behind a pay wall, but it can probably be circumvented. Why else would I need a subscription.
I am happy to paraphrase after reading, but very busy today. Same with the results video.
Try a Google search on a few of the key words from the link. Can’t be sure it will work but did for me.
Chelsea I followed the IC link, and it is behind a paywall for me.
In fact they are very much pro-acquisitions, if those here were to read it.
Bob on Dartron.
The positive and neutral IC article was actually published yesterday and I saw it without it being hidden behind a paywall. They don’t appear to believe acquisitions are a distraction either, or they would surely have mentioned it.
https://www.investorschronicle.co.uk/news/2023/12/11/begbies-traynor-finally-benefits-from-the-insolvency-lag/