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HarChris - 'expecting uptick in february'
Which February?
Sadly FK1, you spoke too soon.....Another 10% down. Not sure whether to laugh or cry...
I am slightly relieved it hasnt fallen though it could as holders digest the news. The Board have driven the SP so low thar it should take calamity to drive it down further. Realistically their stewardship is so disastrous that even starting from a low base they are not showing the wherewithal to drive the SP up. They seem to lurch from one bad month to another. Nothing in today's update shows that they have got a grip on the situation.
One trade of £46 lol back to stalemate.
A feeble attempt to link Global CPO prices to local CPO prices Rivaldo as a straw to clutch onto when the company themselves say the Price they get is shaped by the management of LOCAL food prices. There is definitely a job for you as Dkls copywriter.
As for the 7.5m 'crazy' mcap I best then avoid the 8am rush to buy shares in a company that they have trashed the SP and MCAP by the Board in case I pick up an injury. Thankfully you have at least omitted the WHIreland Target Price, a Target Price so ludicrous that it deserves never to see the light of day.
Yes rivaldo I would put the sell off in 2023 down to the risks that come with high debt vs very low cash position, especially in this environment. The big positive since is that the company has been able to pay down debt and avoid having to raise so cash must be being generated at decent levels right now.
Like you say the cashew operation needs to be adding to that cash generation, not depleting it, for the debt risk to dissipate but for now things appear to be ticking over reasonably. Got to hope for the sales price to trend back towards int. price too.
Today's January production update is reasonably encouraging.
CPO sales are up 38% year on year and production is up 56%. Sales prices are down hopefully temporarily, so overall sales numbers are slightly down on last year, but margins may make up for this with lower FFB prices being paid.
Above all, perhaps this good start to 2024 production signals a healthy H1 high season to come.
And global CPO prices remain strong at $965 as of last Wednesday.
Cashew news is steady as she goes, so this is currently a wait and see until Q2.
The m/cap now is just £7.5m. The fall is unsurprising in these markets given the crazy wait for cashews to begin and then ramp up production, but with the core CPO business being nicely profitable there comes a point where this surely has to be a bargain!
So today's production update confirms to me that there is a disconnect between the price for CPO that DKL achieve and the International price. DKLs pricing seems dictated by local efforts to manage food prices. Of course their costs are lower as they point out but any hopes ignited by buoyant International prices are clearly misplaced. The price achieved is very disappointing regardless of margin as higher prices would at least boost income figures for the market to see. As always more dogatemyhomework excuses.
https://www.***************************/dekel-agri-vision-reports-strong-start-to-2024-with-significant-increase-in-palm-oil-production/4121142296
solid production, shame the sales price has fallen despite rising int. prices, 'expecting uptick in february', product orders made for cashew operation and expected increase in production in phases.
not going to lead to a stampede of buying but solid and underscores significant undervaluation as long as cashew operation actually starts improving.
The SP is down another 3.3% today on no news and historically the market has got wind of good news being rushed out and bad news being put back by a few days.
Now to their credit, those games appear to have stopped and, like you say, they tend to go for the 8th-13th.
Just for the record Harchris, I agree with Fk1 that it is unnerving when news is expected on or immediately after the 10th of each month and it does not appear.
DKL shareholders have a very long memory.
I say this is a matter of trust because another bugbear is the 70k tonnes CPO facility that was built in Ayenouan a decade ago. As a new shareholder, I assume you believe it to be a 60k tonnes facility (?), because that's what all of the literature states it is. Whereas around 5 or 6 years ago, it suddenly lost 10k tonnes capacity, on paper at least. Are you unnerved to hear that, because I would be? The old RNS's have it as such in black and white.
Is hopefully neither a ghost trade that have plagued DKL for many years nor the investor(s) who have inspired inside.. err I mean insight information on the company performance and the imminence of bad news 👀.....
Harchris an argumentum ad populem is of scant significance in an anonymous BB where we have investors who don't belong, don't post or just people browsing posts. I speak from my own experience of DKL and if you lined up 1000 who support your viewpoint then it would not alter my experience of being invested one jot. You are actually talking through your hat about me hoping the SP recovering because of course I do as an investor so it is not even a question. I just refuse to be wilfully blind.
Haha I did indeed!
Oops HarChris, you spoke too soon....
I don't think it's unreasonable to say that virtually no-one besides yourself thinks reporting the monthly results between the 8th and the 13th each month is an issue. There is no volume here but today the only trades of any size are two buys, not a single sell over a couple of hundred quid.
So nobody has become unnerved today by the lack of an rns... It will land this week and will dictate what happens next, hopefully despite all your cynicism you are still hoping the results are positive and the share price starts its recovery.
Good morning j/k . Yes indeed trust.A wider point which is seemingly missed by investors who are newer to DKL rather than us stale bulls. However we don't need to keep Richard Attenborough close at hand in case we have a first case of a leopard changing its spots to be confident these newer investors will soon have a taste of DKL slipperiness first hand, close up and personal.
Agreed Rugs! Any small crumb of comfort is magnified in these times by the terrible SP performance under an incompetent Board who have driven the SP down from 20p to 1.35 with a succession of mishaps. Even 2p iss a 50% rise from here but achievable only because we are at such a low base.
Has enough confidence in the soon-to-be-released numbers to buy 440,000 on opening this morning. Hope they are proved correct......
I follow tons of small cap companies and not one, not a single one, commits to putting out a monthly update on the same date each month. There’s no reason for that sort of regimentation and will only cause uncertainty when for whatever reason they aren’t quite ready on that exact date.
As far as I can see they always report within the first 9 business days of each month, this one should be no different.
Indeed fk1, some think this is a minor thing to be discussing and of no relevance, but as we know it's yet another example of a much larger problem - that of trust.
So no update today on CPO and you have to go back to March 23 for the last time the monthly update came after the 12th. A fixed date has been requested before on these boards and raised at AGMs to no avail. Worse still there may be some nefarious reasons behind the 'delay' in updating in true DKL style. Wouldn't be the first time they have sat on bad news like shelling parts, poor extraction, shipping delays etc.
Not a single trade on two occasions last week, less than £1000 traded the entire week... I've never seen such low volume of any stock, ever!
January palm update tomorrow or Tuesday - come on DKL let's start the year positively.
Thanks Harchris. I appreciate the response. I will check myself when I return in a few months.
I'll defer your specific question to someone more clued up but in terms of current price we know that average sales price was €800 for December and we at least know there's a positive correlation between local prices and international prices, even if currently local prices are slightly below int.
International prices were around 6% higher in January than they were in December and have remained around 6% higher so even if local prices aren't as high as int. prices it's reasonable to assume current selling price is at least €800 still and possible more like €850 now, both of which are healthy.
And forecasters are predicting higher prices in H2 than H1 due to the El Nino effect, so on that front we shouldn't be concerned.
Just a lull before the next update. Be thankful that the investor(s) who are privy to amazing inside errr I mean insight in DKL are not selling as it would only trash the SP but also indicate more trouble at Mill lad.