George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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6x EV (mkt + net debt) to '24 EBITDA
ie cheap at the current price
Egh £25m increase in net debt
Things have got a whole heap worse.
Misery will end at some point I expect. Trying to find an attractive point to break a rule and average down. A potential target for a bid?
I think that the discount rate used in the presentation was high and conservative, but on the on the other hand the terminal p/e multiple was to high. I noticed that when I carefully wathed the presentation on Youtube
Is anyone coming to the presentation today?
Focusrite will be one of the companies presented on the London Value Investing Club next week, on Thursday (22th).
That implies that probably the stock has become cheap, and it has gone down a lot. I want to check the company further.
Any views?
Some big buying into the end of the day today!
Thing that matters to me is that both the weekly and monthly trends are now bullish, making higher lows and higher highs. For the first time since mid 2021. Until that changes, I am happy to hold and accumulate more.
I am hoovering up as many as possible - google trends shows a different story, with searches for all products up month on month, I think this is well overdue a bounce, especially with all the negativity priced in and extremely low PE.
I see value, i buy value. Simple.
AGM statement is measured and muted. Will give things a bit more time to revive, but see no obvious reason to buy more shares in TUNE quite yet
...aaand here comes the buying! Very nice flow coming in today on the buy side, expect this to continue into end of year and hopefully another boost in the new year as funds get to re-allocate their year end profits. At the current PE, this has to be an attractive prospect for many.
Indeed! Surprised we haven't seen a bit more buying, but I will keep accumulating in this area - google trends are already showing a pickup since the beginning of November for focusrite products, I think next Quarter results will impress, so I am still fairly confident we have seen a long term bottom.
That and the possibility for a potential buy out make the risk/reward brilliant here.
Some days we are a statue and others a pigeon
Very happy with the results, surprised we haven't seen any buying, as i think there's a lot of value here... Let's see if we get some interest into the end of the week.
Minimum.
Debt cleared?
Divi increased?
Very positive forward looking statement?
Results day tomorrow, what we all expecting?
And there’s the buy side TR-1 Liontrust now nearly 12% from just under 6%.
Yep, they held 3.1m at 17/10 & the total of the 6 paired transactions on Wednesday was just shy of 6m, so 3m bought, 3m sold. I suspect their remaining ~150k shares had been sold on the open market between 17/10 and 15/11, resulting in the continued suppression of the share price at £4.50.
Re. Results being the catalyst, I agree - same thing has happened with Yougov - ABRDN tr-1 on 16/10 showing a 3% reduction in holdings, shares have since bounced more than 50%.
There’s the TR-1 for the sell side as I thought, now to see who has been buying, there as been considerably more buys.
Big buys starting to come through again:
16-Nov-23 12:04:34 485.00 25,000 Unknown* 470.00 500.00 121.25k
If they sell the company for 1300 a share (circa £800m):
CEO Tim has 92,718 = £1.2m payout
Phil has = 19,266,000 = £250m payout
There is some big incentives to sell the company now.
Totally agree ShearClass - it's still a gift at these levels. Just a matter of time until re-rated, I think the results this month will be the catalyst personally- I think interest will re-kindle once people see that things are on the up again.
Very interesting, and adds details to why this could be a takeover soon.
Francisco Partners, acquired Native Instruments, then acquired Brainworx and Izotopes this year.
So they have a great holding of music software companies.
So acquiring Focusrite would be the perfect fit, as it completes their portfolio and rounds out the group to have speakers, and music hardware.
Yep, both shares battered by selling II's with no funds prepared to take a medium term view in order to bid them back up to anywhere near fair value. Market makers make the situation worse by dropping shares on a small amount of selling & then doing their utmost to hold them back when they are rising (i.e. why has it been impossible to buy 500 shares for the last 10 mins?)
Shares changed hands for £8.60 this time last year, £16 in Nov 21, £10 in Nov 20 & £6 in Nov 2019.
In 2019 turnover was £84m with post tax profit of £11.7m, vs forecast figures of £177m & £23.1m for FY23
Sub £5 with an improving economic environment makes zero sense.
Yeah, the trading pattern on here and hotel chocolat are are same.
Also I would expect that Phil is looking to retire and get a big payoff to gift to the family before inheritance tax affects it.
And also expect that Lion Trust will support the takeover as they will want a profit on their holding considering the year they have had.
Have a look at the shares traded in Hotel Chocolat it has very similar patterns to here, obviously could be just institutions changing shares but you never know.