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Pro-active investors have recently commented on how this Company is worth looking at compared to its peers.
Peel Hunt have also upgraded this share. As have my own broker who is the biggest bank in the Uk and one of the biggest in the World. They have moved their pointer towards buy or strong buy which means the majority of their brokers see this as a buy. We have time on our side as we move into 2024 I agree but this Company is coming back and a great option to add to the portfolio.
Statements from the Board and the press point to 2014 becoming an even better growth year and the company is now producing profits big enough to reduce debt and is working to increase annual sales to be over £1 Billion. (i.e over net debt.)
The brewery I agree has become even more of a success with its recent signing with the operator of the largest number of Wine bar /Pub outlets in the Uk.
I see the pub side merging with Stonebridge who no doubt would like to get back some of the profits made from the brewery as Marston will, and the Brewery extending contractual agreements with other outlets. In fact a lot to look forward to. One has to read the Company statements which are made approved by their in house legal counsel for being truthful statements, which is why some are possibly played down.
Super, I disagree with your assessment. The BOD appointments are red flags, CEO looks to have been ousted and the ex Debenhams FD appointment is a concern (less said the better on how that scenario was handled) the only thing left going for this company is the 40% of the JV, which IMO should cover the current MCAP.
IMO this will end up becoming a salvage job, for the benefit of the creditors . I really worry about what ends up remaining for shareholders...
AIMHO,GLA, DYOR,
Now employed by Ocado - hardly a failure! May have been brought in by the administrators at Debenhams (as a qualified accountant) but she will also know how to keep costs down. Her appointment is to be in charge on the remuneration committee? The Chairman has employed therefore a new CEO who worked for an entertainment empire that was sold to the Danes? Also a qualified accountant who is used to accessing a business worth whilst controlling costs? Erh either for expansion or sale following an approach me asks?
Yep, key note, Rachel Osborne was at Debenhams when they went into administration/liquidstion, her experience could prove invaluable!
Chairman appears to be continuing to bring in new talent to help run/maybe expand the business :-
Marston’s PLC is also pleased to announce the appointment of Rachel Osborne, who will
join the Board as an independent non-executive director and Chair of the Audit Committee
with effect from 23 January 2024. Rachel will join the Nomination and Remuneration
Committees at the same time.
Until last year, Rachel served as Chief Executive Officer of Ted Baker and is currently a non executive director and Chair of the Audit Committee at Ocado Group plc.
Suppose we can now all look forward to Christmas. (Must have been a very good year so far for Marstons with a massive new contract win, plus earlier the Woman's Football World Cup and the Men's Rugby World Cup.
Lets see if we can recover some lost ground from the past 2 years!
What with business now growing fast going forward with extra investment benefits to corporation tax relief, investment in extra plant to help serve the 3,000 plus establishments from the expanding JV and new partnerships coming, a freeze on Alcohol duty, we can expect growth for sales and a great bargain to be had here on a share price hit by the pandemic of the past but now coming out stronger having reached the other side and making the use of an "open" market where others have not been so lucky and further opportunities exist. GLA.
A good read in the "morning advertiser" ,it goes on to say CMBC secures 'momentous' 10-year agreement with Stonegate,but the article states it will only start seeing the extra cmbc brands across stonegates estate in approx spring 2024, any benefit from the new sales will probably only show late next year,
Superdischarger (puffer)
So Stonegate now becomes Stonebridge, do you know something we don't ?
RF was a top man in your book. Andrea was splendid.
What made you change your mind on these ?
After your constant pointing out the increase of sales we'd see from the warm weather in summer, (when most were drinking at home on cheap supermarket drinks), I was amazed that you did not suggest that the 2 major storms recently would not also be good for Mars on Mr Robert Zimmerman's basis of "I'll give ya shelter from the storm".
My fancy is that would create more drinkers than your warm weather as people wouldn't want to leave, did you miss a puff there perhaps ?
I refer you to the rolling thunder tour for any more insight.
Thunder being rather stronger than your puffing I suggest.
SC it is a "New Broom", which when considering your praise of the Former CEO, was needed many months ago.
Any merger/takeover will need the blessing of Carlsberg. The Brewery JV has explicit conditions, in Carlsberg's favour, that must be approved should Marstons sell out.
Company has already said 2024 is a growth year for sales. Followed up by the Stonebridge deal for an extra 1500 plus bars to be served. Doubling supply from the JV contract.
Chairman appoints a senior exec. from the entertainment field with a proven track record and one where his last Company was sold out to the Danes. Who also happen to be the major investors in the JV, Marston Carlsberg Brewery.
Agree the vision is on more ambition/growth and a possible merger for the Pub side with Stonebridge and or a Danish takeover or both. A lot of recovery will be seen in this share price that has remained low for too long and this is most likely the reason for a change in vision.
I'd add that Friday's huge volume suggests the market was very very very happy with the new CEO's appointment.
My (speculative) view is that this scale of enthusiasm suggests the market see something more behind it, i.e. an open path to a takeover - but this is speculative, I don't claim to have any inside knowledge!
The markets are up for most consumer shares, drive by the decrease of inflation (aka "disinflation" - NOT "deflation" which means prices are actually going down, vs still going up but at a lower pace).
And there is a new CEO.
So it is a fallacy to state that today's rise is due to Stonegate. It might have contributed, but there are more obvious factors at play.
Yes agree the market will find the contributions for the JV increasing in time where they have set out employing 100 additional staff and bringing in a larger lorry fleet. This means expansion and increased sales (with an amount set aside for plant that the Chancellor has set is completely take deductible.
Today the rising share price indicates the change of direction for Marston with more ambition, plus the track record for the new CEO also looks like a refreshing change someone whose CV includes some other great Companies.
Nol
''as the market appears to put no value on the JV at all I don’t see it moving the SP meaningfully.''
currently up over 4% today
Whilst I think the stonegate move is going to be a good thing it might not bring the results that you appear to expect.
It will be on wafer thin margins which will be enhanced by economies of scale for the JV. But, as the market appears to put no value on the JV at all I don’t see it moving the SP meaningfully.
My wife and I visit a few of the Brains pubs in Cardiff and never disappointed with the food or service, and like you we are happy with the 30% discount. Long may it continue.
Supercharger, shareholders are only entitled to 30% off food and that’s only 12 vouchers a year, in all honestly I wouldn’t even go if I didn’t have them, so if anything in working in their favour to have these for shareholders.
The issue with Marstons is the menu is the same throughout all their pubs, it’s extremely basic and boring and isn’t actually that good value compared to other competitors.
I reported one of the sites for not actually opening when they were suppose too, they’re extremely forgetful too and you rarely get what you’ve ordered.
I am a shareholder as I do believe it’s undervalued, although the business offering isn’t exciting at all, let’s hope the CEO brings some joy and excitment to this company.
Thanks for this correction FD20.
To continue in English, ...new CEO will look for expansion, he must have sold his ideas to the Chairman. Can see Marston selling their products to the Merlin Entertainment sites soon too.
I am surprised by the fact we have not moved up significantly on the Stonebridge supply deal but this gives an opportunity to buy some more. Feel ditch the discount vouchers in favour of shareholder advantages of divis and growth.
As a shareholder already I like the sound of no discount vouchers, and reduced costs (lower inflation) lower forthcoming interest rates, and a move towards development of the business with a new ahsreaS A SmnAY
Still here… no hasbrowns for my burger… then they forgot the chicken gravy, bacon, cheese and bbq to go with my chicken burger (As always) surprised they remembered the chicken for the buns to be honest.
Then I found out apparently you can’t use the 30% off “food” vouchers on desserts.
Awful, I won’t be buying shares on Monday haha! 😂😂
Honestly, I have mixed feelings about Marstons… ;)
It’s 12 o’clock on a Saturday, I’m currently in a Marstons site in South Wales, people are coming thru the door very quickly!
It’s getting full for lunchtime, just used the shareholder 30% off and had £10.66 off our £46.88 bill.
Holding a good amount of shares and will top up again come Monday morning! Easy 100% from these levels if not 200%+