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Hi Nige
A strong update considering the crisis but nothing about any divis was disappointing for me, I will keep holding.
been in and of Nano but keep watching.
ITM have been outstanding for me , my lad is an accountant and he's got them.
With the new factory opening soon , more sales are inevitable. Massachusetts is in discussions to phase out natural big market there looming. If ITM don't get taken out I'm hoping this will be my next Croda :))
Hi Nige
I've been looking up nano and getting up to date about court case. Delayed court case I wonder how long it would drag on ...
Ps
Have a look at nano, could be a great recovery stock, They are suing Samsung for IP rights for 26m QD Tvs that have nano CFQD's in them. Samsung applied for a 3 month extension before setting out their defence, which was granted by the US Court (because nano didn't object), until end of Aug.
This means to me Samsung and nano in discussions about an out of Court settlement, or Samsung buying nano.
Have a look at nano board which explains the situation in detail, but simple fact is, if out of Court settlement it means massive damages to nano (maybe £500m +), Mrkt Cap £41m at 14.5, values nano at 185, even without the New contract which Samsung will have to give them. Obviously a take over (buying all shares issued) will cost them more and shareholders get that money instantly, in cash.
Obviously very risky, it is possible that Samsung let this go to Court and win, but even then nano will probably survive - just got a contract with STM (via Apple) to supply IR CFQD's, and possible more new contracts on the way.
Downside not much (at 14.5), upside the sky is the limit.
I am sure you will do your own research and I've been in nano since end of 2013 so very happy to give any advice I can if you have any questions.
Hi Bamps
Just got into ITM and talked to my brother about it (an Accountant). I was worried about their big losses every year, but he said if current assets much greater than current debts (which is the case) nothing much to worry about.
About 50% port in ggp, so don't really want to invest any more there (despite profit 120%). Much happier now to top up itm when 25% up.
Thanks again for your superb advice - despite Brexit and CV (I bailed out of Builders far too late), my Port is not far away from high point.
BoL
After dropping number of plots required for the year they have now increased the numbers after 3 week..Think they increase them again. Things not looking so bad on site now with all trades in and car park all most full
Good morning All
Thank you All for your information about the payments.
I have now some prices in my head and depending on how the markets are playing , will be my sell price.
I won’t be trading this share not enough daily trades.
Sit on my hands time!
Good luck and happy trading:)))
Hi bamps I made a nice profit on odx through your tip,well done on itm bought cerp at 2.20 ,Not had time to do much research before it shot up today but you obviously have!atb
Hi Cdl
Yes I'm still holding ITM bought in around 20p and then 40p rights issue, very happy and now my other ones going PHE waste plastic to Hydrogen.
Did you buy Cerp?my last oil play, there's a buzz there today due to Prd raising funds hopefully to buy one of Cerp license or it could have been my big ramp yesterday:)))
ATB:))
TW and most the big house builders dont typically do anything directly with / for the Govt. Housing schemes are normally paid for by Housing Associations. Typically, but not always, the HA will pay say TW a "golden brick" payment for the land and infrastructure; as Nige_W said, it still is typically 25% of the contract value; then staged payments per plot on a monthly basis.
You have to remember, House Building is differant than Construction... as much as people in the box bashing world might like to think otherwise... and as much as other industries look at it. House Builders tend to be speculative developers so take the risk and profit... In Construction, margins are lower, but so are the risks...
Well bamps you sure are picking your shares did you say you were in itm, that’s an impressive rise in a month ,looked at cerps last night thought I’d keep an eye on them today, got in at 2.20 another impressive rise today hope it continues !
Hi Ben
As an Ex QS, we used to do very detailed valuations of work completed on site, including Mats on site, Mats received but not paid for, weekly Labour costs... but this was for internal use only. Payments depended on stage completions (25% roads...) + a fixed amount per month to cover site admin (cabins, site staff, compound) known as Prelims. So no Init payment - only as work completed.
That was many years ago so could have changed.
I don't even watch Gfrd now - big profits in Housing, Civils could improve as rebuilding infrastructure, but I think it will take quite a long time to happen, particularly with recession and No Brexit Deal (regardless of what Boris says).
BoL
A nice yacht that would be nice, maybe you could race keiser williem around the Isle of Wight and stir up some British passion again!
On another note I was talking to my daughter ( German) and we were talking about the difference in death tallies.
She was saying that she thinks they don’t test the dead , do we test them for cv19.
Maybe that’s why we have a vast difference.
Just a thought
Hi Ben
I'm not in Gfrd at mo but hope to soon.
They should have that £300m from Bovis unless it's gone already:))
The upfront bond put with a third party I believe is 1% of the contract sum hopefully returned on completion.
That was the benefit of having a Homes division which would normally of funded that and then the monthly revenues used by the Homes division. Cleverer men out there than me or are they time will tell.
I've not bought or sold anything for a week, can't get over most of my little shares are racing away can't keep up. Getting into hydrogen shares best thing I ever did apart from ggp and now Prim are in profit after 10 years :))
Waiting for Cerp to rise now can't be long, ready to put more in so watching it like a hawk.
Got the yacht brochures out again but nowhere to go :((
Hi Bamps
As you know I’m into gfrd and just been thinking about what there bank balance will look like, when they do there final results.
With a small market cap .
I was just working out in my own head what a good price is!
Thanks for all the good advice
Happy trading
Hi Ben, Tom
I've never come across upfront payments of Government contracts, it's normally the other way round with construction companies having to put monies into a bond.
Any work on site and materials would go into the first monthly valuation for payment so may take upto 8 weeks from the start to get the first payment.
Can I ask why you are asking?
Hi Tom
Thanks for that , it’s the way I thought.
The way I see it certain companies bank balance could look a lot better than it should do!
Obviously it depends when the final statements show up.
Ps this has nothing to do with tw’s bank balance
Good luck and good trading
:))))
Ben Hi,
If say, TW were into a "Government scheme" in building certain homes / houses I am sure they must be in some form of agreement and cash input especially if its a "Blue Chip special contract". I am sure that they would have an initial agreed payment up front for materials and possible labour costs for say the first 3 Months, followed by a normal monthly valuation on materials and works complete for further payment. I am not sure but that is my assumption.
Cheers
Tom :-)))
Hi All
All going well on the stock markets at the moment let’s enjoy:)).
A question for Bamps or Tom or anybody else who might know!
When construction companies start a blue chip contract, would they get an initial payment by the government or customer as they start? Or would they have to reach a certain phase first ?
Thanks in advance