Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thanks Illaquens. If they're waiting for the SFR price to recover we might have a long wait-it seems SFR is pretty unloved at the moment and the copper price rise in the last week hasn't helped much.
Buy back facility not by back facility
Hi Fierce, I was talking about the asset backed by back facility that is most likely secured by the SFR shares that MTR hold.
Slightly disagree there imo pal because SFR has $250,000,000 in their bank; don’t think the SP has anything to do with it; after all, if Glencore and Rio shut their two largest copper mines, the SFR SP would go through the roof. Factoring v asset isn’t a guessing game on the SP, it’s factored against deposits/debt/tax liability etc but I’m pretty sure you would know this.
Hi Keith, it is really quite simple. It is most likely an asset backed finance facility secured on the SFR equity. MTR will be looking for the SFR share price to improve. They could draw down the facility but that would mean more security at the current SFR price.
I agree totally. It's been over a month since the buy-back was approved and nearly 2 months since the idea was announced/put forward for approval. What news is/might be about to break that would give rise to a closed period? Whatever it is can the Co. not merely tell us the nature (but not the detail) of the information which is holding things up? The lower the SP drifts the further the buy-back has got to drag it back up to have any meaningful impact for many LTHs.
The problem as I see it Keith is when does anybody decide we are in a “closed” period; you know I’ve said before it’s total nonsense; we have a dozen projects on the go; we have an IPO 4 weeks away; is this a “closed” period, sensitive info possibly,maybe,might be etc etc
Total claptrap. If we actually get on with the buyback the info may be forthcoming; if we don’t get on with the buyback, the info may be forthcoming.
This is beginning to resemble a who dunnit save for the author not giving us the last page of the book so we will never know who dunnit !! Before people start commenting it’s worth remembering that in this so called “closed” period, the SP has declined further with sales accelerating. Brilliant, absolutely brilliant for all the LTH”s.
So are you not expecting the buy-back to start before then?
Yes I have to agree with you; the Cobre IPO on 15/1/2020 will be a great start.
Lucky you. I'm at 2.5. Looking forward to 2020 though.
I’m at 2.11 av yikes
Avarage down to 1.26