Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. 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.
TF - very much agree with your post ( 17.27 )
I've posted a few times that i feel the recent stock market rises feel completely disconnected, to what is happening out there. The recent re rate of cyclical shares has been great for day trading.But like several that have discussed trading strategies on here, I'm keeping a cash fund, for future dips, and am closing trades quickly. There are going to be many bumps in the road over the next 12 - 18 months.
I worry about Doris, and don't like bringing politics into it as it's hugely challenging dealing with Covid 19. But to date the UK Govt. has not covered itself in glory, in terms of getting the virus transmission under control. I fear that we look prime candidates, for a second and third wave.
Putting to one side, the financial measures introduced. On the medical side, can you think of one piece of UK Govt, best practice to date, that other Countries in the World, are looking at and saying to themselves - " gosh i wish we'd done it that way"
emmm
gla ( stay safe )
G
We are in for
TF - agree re TOSCA, they'll be expecting Asset sales, I'd guess - hence the plan to monetise the Energy Division.
Also agree Southend was worth considerably more pre Covid, that'll be the case with many assets sat on many balance sheets. At least with STOB we know where we are. We've got as a Country, to get what is it - 8.5M people out of furlough and back to work. I feel a considerable number, whilst not yet fully aware of it are effectively unemployed - regrettably.
The costs, of the Southend project were, always going to be there, much has been spent - ongoing costs, will be lower, than in the past. STOB can only deal with matters that it has control over, as regards getting the airport up and running again. Cashflow will only come with flights and passengers. As to positive cash generation, that will be far easier, without past capex, would it not.
Time will tell.
Love the debate.
G
Hi Birddog - Our posts crossed. I wouldn't disagree with you around the airline Sector, it looks challenging, moving forward.
That said if Covid 19 does have a longer term impact, which it may well do, then little old STOB and Southend Airport will not be top of most people's agenda. We'll all have lots more to worry about, as will many other sectors and businesses.
Passenger numbers, are key, I put an extra year on the 5 year plan to take Covid19 into consideration. The impact is being felt across all UK airports and Airlines, and perhaps it's not a sector for many atm.
Let's wait and see what comes of the Asset sales from FLYB, if the Administrators take that route and see what comes STOB's way.
I'm going to be looking out for TR 1's to see how the major stakeholders sit in the coming weeks. I Posted earlier that TOSCA acquired 82.5M of the new shares in the placing, increasing its interest in the enlarged total share capital of STOB to 27.56%.
Shareholders will get to participate in the equity issue via an open offer while directors of the company will take up shares to the tune of around £356,000 in aggregate.
If everything was rosy in the garden - this bb would be a little dull - fortunately with STOB its always a fun place to chat lol
G
birddog816 / TF - I've still to re read the Finals in greater detail, Though I notice you both seem a little down on Southend Airport.
It might be worth considering what has been spent to transform Southend Airport, I doubt either of you will bother but try googling pics of the Airport 10 - 15 years ago and look at what STOB have achieved there.
The development, and amazing improvements, don't come for free, and whilst the considerable cap ex is being spent, it will show as loss making in the Accounts, will it not.
So what do we have - an Energy Division, which is pretty much moving forward again, following Covid 19, and an Airport, acting presently as a large car park for a number of planes. Though TF - did you see this comment deep in the report :
"However, perhaps the biggest boon to our long-term non-aeronautical revenues was the commencement of operations to support the import and export of goods at our new global logistics operation in October 2019".
So the way forward has been mapped out -
1) Covid 19 has to be resolved, if it isn't re opening Southend Airport will be the least of all our issues. Assuming the Airport re opens, I'd say you'd have to add one at least a year to the 5 years plan.
2) Ditch the Civil Division
3) Create shareholder value from the Energy Division, over the next 24 months
4) Selectively sell off the non core assets, ( not a fire sale TF - not needed with funding in place ).
5} Sit back chill and pour yourself a little tipple lol
Think the timing Finals and the Funding landed fortunately for STOB, with the sp, still floating around 47p as I type, with the market closing on a very positive week. One could expect a little sp drift on a bad week.
G
Hi Gerry,
Of course the FLYB issue has a bearing on this, but lest we forget that it was on it's knees well before this. The COVID scenario doesn't really effect the financial results to FEB 20 which to me is the underlying issue. Passenger numbers wise it was their best year ever. It has never been better, or won't be better for a considerable time. I think this will be about as good as gets for them. The liabilities on the aircraft leases with Stobart Air are substantial. Being in the airline world for the next 3-4 years is going to be difficult to put it mildly.
Hi Moni - only just got back in to sit down and have a little shift through today's STOB posts, when I went out this morning I said to myself - expect one one Moni lol
Think most even minded individuals, would whilst acknowledging the FLYB administration issues, say that Covid19, and it's impact initially on the Energy Division and a Southend Airport, has had the largest impact. As it is having with many Company's atm. At least STOB are out front,and perhaps ahead of the pack, with their refinancing and restructuring.
I'm sure many more Company's will need to undertake similar fundraising as we progress through the next 12 - 18 months or so. With STOB I don't believe many can have been too surprised. Watch out for many shocks and bumps in the road for many Company's and their shareholders, as time passes.
My Free Carry shares are are actually worth more today than they were on the 23rd March, when they were sitting at under 29p, though they have I'll acknowledge been higher lol.
G
There seems to be a notion that Southend Airport is the jewel in the crown. It isn't and certainly won't be in the next 5 years or more. A lot of the group losses come from Southend airport and the airline, Stobart Air. The YE Feb 2019 showed that the airport alone lost £38m. The more passengers they get, the more they lose which would indicate that they are simply selling cheap to win the airlines into Southend and get the footfall up. With ample slots now available at Gatwick, Stansted, Luton even Heathrow, all of which have better transport links, connectivity and catchment areas. London City also have spare capacity. Southend falls behind all of these aforementioned airports and it's upturn in passenger numbers in recent years has largely been due to lack of capacity else where. Southend Airport is over 60 years old, has underlying financial health issues and is now suffering the full effects of Covid-19. All this shares issue and further borrowing does is kick the can down the road and dilute the value to shareholders.
Well Gerry looks like Stobart have been hit by the curse of Flybe and Mrs Branson's crumbling empire, not sure your free carry shares are worth much now....unfortunately for you guys this is a car crash of a company by the looks of it.
RNS from today has disappeared again from here.
Still to be found elsewhere: londonstockexchange.com/news-article/STOB/completion-of-bookbuilding-process/14566992
Hi Tav - There is a lot to read in those two rns. The raising of additional funds through a combination of additional bank facilities and equity, was not unexpected.
I've read the Full Year Results through once - and will take a closer look again this afternoon. Have a bike ride planned shortly.
It appears that the future will be fully focused on Aviation.
Exit from the Rail & Civils business during the course of FY21. then the aim will be to" Realise value from the Energy business as a maturing, cash generative and stable business. This business is starting to benefit from a restart in the construction sector and is likely to be attractive to strategic partners and infrastructure investors and we will look to monetise value for shareholders over the next 18 to 24 months".
Interesting the Company's largest shareholder TOSCA acquired 82.5M of the new shares in the placing, increasing its interest in the enlarged total share capital of STOB to 27.56 %. TOSCA must be expecting a decent return from the sale of the Energy Division, and the future of Southend Airport, to support its increased investment.
Open offer of 2 for every 15 shares held. Expect volatility over the coming days and weeks.
I'd expect the odd one or two negative posts on here, hopefully not one liners though , which we'll no doubt get,as they don't add value. Be much more fun to have an actual debate based on a detailed assessment of the present position and future potential.
gla
G
Tiger.... "Actually, it's amazing that STOB have found anyone willing to put money into the company, even at 40p.
IMO, this company is doomed. And deservedly so."
Tiger, why would you say "deservedly so"?
I sold out and took a small profit at 112p. Reason for this, I thought that STOB would have to raise cash with a RI. I made the right decision for once.
Actually, it's amazing that STOB have found anyone willing to put money into the company, even at 40p.
IMO, this company is doomed. And deservedly so.
Admission becoming effective by not later than 8.00 a.m. on 29 June 2020 (or such later time or date as the Company and the Joint Bookrunners may agree being not later than 8.00 a.m. on 6 July 2020).
STOB is to issue 250 million shares at 40p, wow someone is getting a bargain.