Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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H1 23 Results
Total Revenue 331.5m (-4.6%)
Profit for period 5.6m (-76%)
We were not going to see any record profit figures for these results so a profit is positive compared to other retailers.
Equity 461.9 (+4.43%)
Cash up
Liabilities down
Book Value per share ~ £1
Could claim market maker, but whoever seems to be doing this looks to be profiting. £45 or so each time, guess done around 50 + times now.
Some very odd orders today. Someone seems to be placing buys around 24.95 then subsequently selling around 26.30. Been happing most minutes since around 10:50am. The bid and ask prices are moving 3-4% every minute. Not sure anyone else is seeing this?
£30 mill claim, bwng counter claim and hey presto allianz claim is 65mil.
I expect a settlement around 25- 30m, bwng made a provision for 29mil
In your previous posting of 5th July, you acknowledged that the amount claimed by Allianz (ie the maximum liability) was £65m so I assume that your latest figure of £95m is a typo. Either that, or you have added Allianz's previous claim to their latest claim, which is incorrect, as the latest claim includes the previous one and is not additional to it.
I have no investment here and I'm not a short. Litigation risk of £30mln - £95mln. Not a small amount! I do hope they settle.
Nice climb. 10% cannot be scoffed at ! Might have another look when this dips again. Gla
The rises over the past couple of trading days were on low volume. Nevertheless 16% is not to be scoffed at and shows how quickly the share price can move in a thin market. Dangerous to be short on this share, I would have thought. An out of court settlement is a distinct possibility, but I’m guessing this would most likely happen closer to the June 2023 deadline. The amount at stake is relatively unimportant to a large corporation like Allianz, so they may be more inclined to sit back, in the hope that time pressure gives them leverage on BWNG. But my assumption is that the settlement amount will no more, or not much more than Allianz’s original claim of £30m; so if the market is really expecting a much bigger number the eventual outcome will be a pleasant surprise.
Abftse clearly short and deramping, doesnt like the website, how sad. Quoting incorrect figures.
Up 16% the last 2 days so hope he got rid of it in time..
Share magazine havent got a clue about the litigation. The initial sum claimed by Allianz was clearly £30m. Bwng counter claimed denying liability for the ppi and suddenly Allianz wanted £65m because they didn't like the counter claim. All a game.
Nbwn have made a provision of £29m which is covered. ..i expect out of court settlements will be made.
The shares rose by almost 9% in the last half hour of trading, for no particular reason. Today’s AGM contained nothing that would have moved the share price, as far as I can see. Most intriguing...
15p is my bet here over the next few months, let's see if I'm right... GLA
... and here are those numbers in graphic form:
https://simplywall.st/stocks/gb/retail/aim-bwng/n-brown-group-shares#past
Correct Revenues
03/03/2018 = 922.20
02/03/2019 = 914.40
29/02/2020 = 858.2
27/02/2021 = 728.8
26/02/2022 = 715.7
I presume you're looking at hl for these financials. Maybe use the company site or Yahoo just fyi.
Your revenue figures are wrong.
Last year revenue was £715m not £487m. No idea where you’ve got that figure from.
The sp trend is downwards.
The trial is scheduled for June 2023. And any payments will not arise until at least FY 2024. So those pinning hopes for 10p on the (theoretical) possibility of an equity raise linked to the worst-case scenario for BWNG will have a long time to wait. On the other hand, if the eventual outcome is more favourable to BWNG than the worst-case scenario, expect the share price to soar, perhaps by many multiples of 10p!
I apologise ABftse. Some valid reasons although I cant agree on the 10p.
The company is involved in litigation with an insurer. According to 'Sharesmagazine.co.uk,' "total contingent liability is £65 million." The figure was previously £29 million. This is a huge amount for a company of this size. At least N Brown is in profit but still if they have to pay anything near £65 million they will do an equity raise in my opinion. Placings are discounted so will be probably be at a 40% discount in my opinion. SP could go down to 10p.
I like N brown and I like what they are doing for the plus size movement but there are too many issues ahead for them.
Their revenue has declined and there is no sign of it improving.
Decline in revenues
Date / Millions
03/03/2018 = 922.20
02/03/2019 = 914.40
29/02/2020 = 574.20
27/02/2021 = 489.30
26/02/2022 = 487.00
I don't like their websites. I went on their Home Essentials website and the product display just wasn't to the standard that the consumer expects these days in my opinion. This is marketing so can be improved, but it really should be great already.
Their websites offer credit for the customers and that industry might be reformed, so there is further risk there.
Fundamentals are very strong but the stock markets are very bad in the current climate. Its been a shorters dream the last few months.
10p was after covid hit and was an unknown ad the markets collapsed. Recovered to 70p inside 12 months and that was after a placing at 57p.
Just have to wait it out but a recovery will come.
Based on absolutely nothing. Don't hold your breath for a reply.
Abftse I’m back in here after selling on the recent spike. What’s your 10p price prediction based on as where I’m looking the fundamentals of the business look strong. Thanks in advance
I can see this going to 10p / April 2020 levels.
*Strong update
String update just a couple of weeks ago and price was about 34p down to 23.. crazy cheap.
£100m mcap v revenues of 500million and profits circa £35m.
Possibly shorted down on low volume. Good op for thise who can wait for sentiment reversal.
I remember first buying here at 23p when covid hit, it went to 70p in the following 12 months. Was my best win in covid. Im back in but under water but happy to wait.
Will add before next update.