Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"In fact '21 will be worse than '20 on Pearls assumptions? "
"It is my assumption as well."
Carpe- wouldn't surprise me for a moment, starting to feel that it might just be worse 21 v 20, that view would be supported by the downbeat RNS (1 April 21)
Although, Pearls is expecting over 20,000,000 and 9,000,000 of profit to be forecast in the June update as I understand it...could be colossal downward pressure on the share price if it's worse than the (limited) market expects. Although I don't expect anyone is going to be surprised, except Pearls of course. ;)
"In fact '21 will be worse than '20 on Pearls assumptions? "
It is my assumption as well.
"No Pearls. They don't own the material therefore their earnings are the commission obviously"
Of course, doesn't that mean that if you use Pearls logic of divining '21 total sales from activity so far, then there's a further decline on the Pearls "pitiful" 2020 figure (est.). In fact '21 will be worse than '20 on Pearls assumptions? LOL
No Pearls. They don't own the material therefore their earnings are the commission obviously.
Wrong Carp. The £2m would be considered to be part of turnover because their profit is obviously part of the turnover, not itself the turnover.
If today is similar, that will be £2m towards our previous annual turnover of £11m [last year], and we are only in May. There was approximately £800,000 sales from the earlier auction in April meaning just from auctions the turnover is perhaps £3m by mid May. Hence my £20m annual estimate.
Wrong Pearls, turnover will be the commission only, so about £600k on £2m. Its not total realisations.
Hamilton, what is your point? Their turnover in 2020 we are estimating was £11m but that does mean they make £11m profit. We all understand their profit is some fraction of the annual turnover. Do you? In the case of the auctions their profit is 20% added onto the hammer price. They may also charge, I believe, an additional 15 - 25% for items going into a Signature sale. For auctions, some of the items will have been sold to SG before the auction, some will be on a fee basis, some on a bulk basis etc, the point is that there are a variety of fees applicable. However, SG state their average profit margin to be 45% so it is reasonable to expect the auctions to be similar to this. Let's face it, if they made 45% over the last couple of days, it is certainly going to help the bottom line, and if they were able to produce a £20m turnover in the 2021 accounting year then that would equate to a £9m profit at which rate they will very quickly roll into profit and a substantial rerating for these shares.
Though it looks to be a strong auction result unless SG are selling material they own, the income from an auction is a total of the vendor commission and the buyers premium as published in the auction catalogue.