Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
Jinny if you want to short the stock at this level i am happy to be on the other side of the trade...
your size is my size....
Sales growth has vanished, loan book growth has vanished, deposit book growth has started to vanish, C&I grants is now vanishing and £50m has to be refunded. LOL
The value has been disappearing before our eyes for sometime. Think about it: previous profits have vanished, previous aspirations to challenge have vanished, future branch openings are vanishing, capital vanished and had to be rebuilt via emergency placing, share price has almost completely vanished from £40.. Metro, the great vanishing act LOOOL
If a recession is coming, there will be a flight to perceived safety. Metro's deposits will disappear to LLOY etc before they know what time it is LOL
Given a choice between a LLOY or a METRO branch in my community, it'll be LLOY all day long! Give me low rates anyday thanls! Can survive without dog biscuits and 7pm branch banking
Looked again at results and webcast, really cant see a future / way forwatd here. Just vague aspirations, like "UK best community bank". Lol. Looks like massive retrenching with tail between their legs to me. LLOY and RBS must be frightened of them LOOOL
happy to discuss any of those points...
i obv disagree... strategy seems fairly conservative and the guy confident enough to deliver.
markets are not helping but we shall see sooner rather than later which way this is going...
To be hones, the new strategy just doesnt stack up and glosses over major points.
Holders here just have to keep the mother of all hope that the Ceo has a trump card up his sleeve that he hasnt revealed. If not, its a wipeout as things stand.
How to fix - Jinny
Simples sell 2 billion of the mtg book just like the supermarkets - but hang on minute- won’t someone realise they can buy the whole company instead for that much! Hmmm What would you do....
Just a reminder that if VH was interested then after Wednesday the minimum he would have to offer if he reaches 30% would be £5 rather than £9.16 before this date. Quite a difference -especially if he had acquired 30% around £2 per share. Would drop the average to £4.07. That’s still well under 1B to buy the lot !
please do provide the link to confirm the quote, or just look at pag 26 of the pdf presentation and your confusion will suddenly go away....
facts are something else...
Pinnasim. Those are the facts, MREL HAS to be issued this year to quote the Ceo.
INCORRECT Jinny. the issuance if needed is included in the plan before 2022, so your assumption is incorrect
Jeez, thats not far from 20% of annual revenues just to meet idle MREL caputal buffer! Crazy!
I have watched the webcast btw, seem more informed than some here dismissing these points
CEO said they need £500m more in MREL and will issue all or some of that this year at around 7.3%. If they issue all this year, then thats a £70m interest charge per annum just for MREL alone. This is sinking further into the red
Jinny,
saying something, like you are doing, over and over again does not make it right. Frumkin addresses and is addressing your points. Take 2 hours to listen to the discussion, it is clear you have not done so, nor have many on here.
Jinny the MREL is 33M cost a year, right? terrible but manageable until a re rating. why would you think they need more MREL this year? CEO confirmed there is no need of new capital whatsoever. Revenue increase is quite easy given the current situation... credit cards, loan and cross selling in general. please do go and see the podcast. it will help you understand how poor is the current situation, hence the potential to improve. Mortgage and Loans are fine. i suggest you read RBK very usefull posts about it.
Can anyone then explain the following: (a) how do they intend to fix 9.5% MREL? (b) How do they intend to raise additional £500 MREL debt this year? (c) How do they intend to materially increase revenues which grew at 0% last year? (d) How do they intend to stop an exodus from their resi mortgage book given crpp prices? (e) How do they intend to move into unsecured loans without increasing bad debts?
Large, or institutional if you want, don't write off investments like that. Future is bright and the powerful market entrants are not direct competitors. Recession is not yet here and loss making can be rectified with the actions discussed by the CEO. You really missed the conf call.
The large holders have probably written off their investment by now. The future looks bleak here, new powerful market entrants, pitential recession, loss making etc.
Holders must just hope with all fingers and toes crossed that the big holders dont start dumping stock at these prices, it'll be carnage
Desperate times indeed for holders. Unfortunately looks like this will have to be a write-off for most. Cant see anyway of resusitating this, and analysts share similar view
Theo
Need the cavalry NOW NOW NOW FFS
This is desperate - not selling and taking the hit - so ride it out.
Gen Custard !!!!!!!!
Well the 'UK's best community bank' strategy has fallen on its face it seems. It was funny though, as I speculated before results that Metro should be converted to a netwirk of Farmers markets, so it wasnt a mile off Lol.
Sad to see a once promising challenger reduced to rags, but the signs were there for all to see.
Management need to sell it before it becomes an emergency situation in a possible recession