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Unbelievable.
Online sales only..as opposed to nipping to the off license and getting a 6 pack and speaking to the cashier. But, the boxes of Marston's that were in our local Lidls here in Germany didn't last long...so send more, bitte!
So pubs can stay open and still serve beer if it's ordered on line first, so you can stand outside and order your drinks on your phone and then be served. Now that is good news for mars.!!!
Daave
Thanks for that, I appreciate your thoughts as you have a different perspective to most of us, by virtue of your involvement in the trade, which makes your input very useful.
Alonso, the new CEO is the CEO for the Carlsberg-Marstons joint venture, not for Marstons. He is one of Carlsberg's men. Ralph Findlay remains the Marstons CEO.
Will this impact much?
Daave,Barchid,,in general terms that is a fair assessment of the hospitality sector. It is signifcant, as mentioned yesterday, even though the JV has completed MARS SP is out of sync with others in the sector, one wonders why?
Now the brewing arm has been separated and as Barchid states, valuation of the retained estate will be interesting. The plan to create an operational Pub and Accomodation business of excellence, is going to require funding, if a Rights is to be avoided, no doubt plans are afoot to dispose of under performing establishments, remembering the JV requires Marstons to retain at least 50% of their existing Pubs.
At the present time Mars SP is underpinned by a NAV which is 50% above the share price. M&B's NAV is 200% above their SP. These numbers put into perpective the value of behind each stock. Fullers SP is similarly well supported.
Annual accounts both here and MAB ( as a comparitor) will reveal where we are going.
I’d take a stab at this and say that the JV completion announcement had propped up the SP slightly, add in the ‘support package’ in place from the government towards hospitality for the the next month, (which covers November which is usually pretty crap in pubs) regardless of the long term prospects Carlsberg and Marstons together should weather the storm.
Just look at the other chains/pub company’s: restaurant group, wetherspoons, M&B and to a certain extent Whitbread.. all holding stable in their SP even with a national lockdown due in less than 72 hours!
I think the next few weeks will be a bit of a rollercoaster.. I’m hoping to top up if there is a dip of 5p or more.. even if Mars dips to 20-30p in the next couple of weeks, it will more than likely bounce.
Pubs in general will suffer through this lockdown but a ‘proper’ lockdown is more financially stable than the 3 tier system which is put on hold tomorrow night.
God knows what he’s blabbing on about cattle and tents for?!
One thing to note is that the entire pub industry is selling off their open (and likely to expire) booze dirt cheap over the bar in an effort to reduce wastage, most keg lager and cider in cellars across circa 40,000 Uk pubs has Best before dates that go through to February/March next year, real ale/cask ale is generally stocked to allow a week or so in the cellar and any savvy landlords will have sold this by Wednesday night..
If brewers were on the ball they will have halted manufacturing and switched any liquids that are in production to longer life by filling bottles.
There shouldn’t be much waste, there might not be any profit generated for a month but the cash burn during downtime shouldn’t really be anywhere near the 1st lockdown. I’m thinking of this as more like a holiday than anything else, quite a stressful one but at least there is (supposed to be) an end date to it.
Hi
FD
On a more serious note than tents & tesla's it does appear the market is becoming rather more sanguine about Mars, in effect one could argue that the share price sub 50p is similar to option money which we will not know properly the embedded value (or not) until we see a strict revaluation of assets/liabilities & likely income.
If Daave is still reading thisboard it would be helpful if he gave us his views as he was a manager of a tenanted house I recall & probably has some useful input ?
SC there must be an enormous void in your head. You know as much about the topics you keep introducing as the material that emerges from the backsides of cows.
Thankfully many intelligent posters are realising your inadequacies and agenda.
Supercharger. If you feel large storage warehouses are the way of the future I STRONGLY recommend that you take a look at Tritax Big Box REIT. Their entire business consists of renting out large-scale logistics warehouses.
Have you seen the timing of the barchild and unfairtraders posts my suspicions are correct they must be living together? Time to save up and buy your first tent.
Sleep well.
Musk's test driver, does not know if he is bored or punched and likely to have his steering wheel removed., shortly as he knows nothing about Economy 7.
What a complete fantasist, now knows all about Dairy cows. The story is complete rubbish, Dairy Farmers were given very generous handouts which enabled them too sell Quotas at huge profits and re-invest in purchasing more land.
Could he be a dis-placed reporter from Farmers Weekly?
YoYoMa
You are quite correct, however little point in mentioning this to Tesla man due to his memory retention (lack of), even down to admitting that he did not include a %.
Sad story but if it makes him happy....?
Hi DarkArches -I do not really know enough about property rentals especially to Supermarkets - but I do see a future in "online shopping" and therefore large storage warehouses as the like of Amazon and Ocado have shown being a different way to shop is most likely the way forward and I feel we will have less and less shops and high streets. We will still have them but they will become more remote and select. I do not feel local councils have helped either. To save High Sts there should be free parking just like there is at the out of town retail parks springing up all over the place. After Brexit we may have some more freedom in the Uk and I would like to see more local farmers markets and farmers actually be able to run their own farms and have their own herds of animals and sell direct to the locals - just like we had before Brexit. One of our closest friends had to either close their diary or lose their 300 year old Friesian Herd when we joined the EU and the family were heart broken. I would like us to become self sufficient with healthier food and milk from a source that we can relate to. I must be old fashioned I suppose. After working in London for so many years I now try and avoid large crowds and shops to be honest. I like a quiet life and try to stick to what I feel happy with.
Well looking at the new re-org and the major changes in C-suite positions I can only see either a RI imminent or within a few years a complete buyout. I guess it's now a waiting game to see what Peel Hunt do (or should I say forced to do)
GLA I think we need it.
Supercharger. I dunno about groceries.....massively competitive sector with wafer thin margins (and i thought hospitality was bad!). Was a happy day when I finally sold out of Sainsburys.
Have you considered any of the REITs who rent out the property to supermarkets and the like. NewRiver has done very well for me in recent months, and REITs in general are trading at heavy discounts currently.
Yoyoma I do conduct research and there was nothing wrong with what I said. I just did not give a percentage. It is shame Marstons could not do a similar deal and that their JV had to be for less than half with them supplying over 61% of staff (which is a message in itself to the market).
I also am invested in the retail sector as well as most other sectors, but felt the M&S price reflected very good value on the back of Ocado success. Tesco results have improved and I also see Morrisons with their Amazon and McColl's tie up improving on local sales too. Lots in that sector to look forward to particularly as we soon have Christmas upon us.
Don't think RF will be too worried as Execs tend to award themselves a nice traunche of shares when Rights issues are made.
You are right on turbulence, which is likely to go on well into next Spring even Summer.
Think you will find out that by doing proper research you will see that M&S bought 50% stake of Ocado retail for £750m. I have very heavy interest in OCDO so know this market pretty well. Linked below for your perusal in case you get bored.
https://www.theguardian.com/business/2019/feb/27/marks-and-spencer-agrees-750m-food-delivery-deal-with-ocado
RF won't be too happy either if there is an RI as presently he is sitting on 1.1m+ shares at a loss of £700k. With Peel Hunt leading many paths I see a turbulent time for quite sometime.
I rest my case - now is not the right time to buy any hospitality share - maybe the third week of lockdown it is.
Not everyone drinks Beer - but everyone needs to eat (Tesco) (Morrisons) (M&S who bought Ocado retail) which is why the home delivery firms and supermarkets went up today. Plus most at home will catch up on some DIY whilst at home will help the likes of Kingfisher (B&Q, Screwfix fame) and then have a Dominoes in the evening with the Kids as the Kitchen is closed. Think about it. Support the NHS- think about it!! what does that stand for (No Hospitality Sector) Be active - play safe - never put all your eggs in one basket.
Barchid, correct, also added Fullers and MAB are in far better financial health to withstand another lockdown. Whitbread have a "War-chest" and have made it clear, a few days ago, they are looking at distressed hospitality companys.
Given the completion of the JV last Friday, the Market has not reacted in a positive way, all of the sector Co's mentioned have fallen far less (%) than MARS today. WTB have ended in positive territory. Does the market know something PI's do not? Is the Market preparing for a RI ?
I said buy when it was the time to buy/ and sell when it was the time to sell. My posts have actually been very reliable on share price. Today we have big falls and regrettably are likely to continue for good valid reasons mention by many on here. For this market one needs to be an active investor and any rating can change by the day. My rating is currently sell after a day or two heavy falls and I said the other day until we hit 30p I will not be buying. Last lockdown we hit 22p.
The very side of the business that has been earning has been diluted and any JV will take time to get any momentum from sales whilst suffering high set up costs -shame. Bigger is not always better is what the market is saying today.
and become very profitable long term. However, we don't know if there is going to be more lockdowns before Covid is gone and we won't know this until April 2021. Therefore in the interim period expect this to drop, but double on confirmation that lockdowns are over.
Barchid, let us hope so. MARS is my only hospitality holding. There is risk, but if it survives should provide very nice returns.