Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well it's nearly Hallowen - it's good to be Weir..d. Looks like a good week in prospect.
Yes ;)
Is posting messages that only you read a sign of madness?
Halloween is WEIR 3rd quarter reporting date.
Must remember to buy HP sauce at Tesco's tomorrow.
Warming up nicely.
Will the SP reach 2000 this week? Just another figure I guess but it would be nice to get that warm feeling!
I guess the competition authority's approval of the Wood merger puts Weir in the frame as a takeover target. It's said to be the perennial takeover prospect. With rising profits expected, low but rising pound, and prospect of orders from the hurricane and European refinery clear ups then somebody must be checking the numbers. What better time?
Improving worldwide oil and commodity market, and falling Weir SP in spite of positive half-year report. Long established well run company with good reputation. Surely this makes it a takeover target for either a competitor or a major private finance company looking for a reliable income stream.
Nice uptick this morning on revised earnings forecast... “The updated outlook for the Group's full year performance is now for strong constant currency revenue and profit growth. As previously indicated, profits will be weighted to the second half of the year.” Please note my post of 19th May "Wouldn't surprise me to see a revised profits forecast sometime in the next 3 months" And next week's winning lottery numbers will be.......
The BBC report that a number of Arab countries including Saudi Arabia and Egypt have cut diplomatic ties with World Cup hosts Qatar, accusing it of backing militant groups including IS. This comes amid heightened tensions between some Gulf countries and Iran. The Saudis accuse Qatar of collaborating with "Iranian-backed terrorist groups". Any escalation of geopolitical tension represents a potential risk to oil supplies as this diplomatic move may embolden Trump who wants a pretext to reimpose sanctions on Iran, which would threaten around 4mbd of worldwide crude supplies.
API stats tonight show a bigger crude draw than expected, 8 million barrels, which should be reinforced tomorrow by the EIA figures. This, together with news that the Saudis announced they will be targetting reduced exports to the U.S. in the next few months, adds up to the potential for a genuine Brent price climb up to $55 at least. Very interesting article on Oil Price News suggesting OPEC members shot themselves in the foot by upping production last year in anticipation of the first OPEC agreement, meaning the world was awash with reserves when the cuts were made so there was little price increase. Now those reserves are at least partially used up the 9 month supply cut extension should have a more genuine effect.
I guess Weir SP being held down by concerns at Petrofac and Wood Group rather than fundamentals. I think you call that a buying opportunity.
The world’s second largest oilfield services company, Halliburton, has said that it expects to increase its prices by 10-20% this year as demand from fracking companies increases. Looks like the pricing pressure, mentioned by Weir as restricting revenue in their recent Report, is now relenting.
Another decent rise today, looks to me like commodities and energy are coming out of the doldrums and Weir will benefit as much as most. Wouldn't surprise me to see a revised profits forecast sometime in the next 3 months. Mind you I'm personally anticipating a major stock market correction across the world when the huge credit bubble in China and the U.S. bursts- in the Autumn my guess.
Nice kick up this morning on the basis of Deutsche Bank recommendation and rise in the POO. With the OPEC agreement likely to be extended at the end of May and the oil price heading northwards, anyone looking to take over Weir will have to get in pretty sharpish as the SP is heading back to 2100.
Bloomberg reports that "U.S. shale explorers are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices". Weir of course are a major manufacturer of fracking pumps so this massive increase in investment must be impacting on Weir's order book. Looking good.
Sunday share tips: Weir Group Mon 01 May 2017 18:19 http://www.hl.co.uk/shares/share-research/share-tips/press-tips/sunday-share-tips-sirius-minerals,-weir-group
...now reducing holding!
Sunday Times today say "Pumped up Weir may tempt predators" and recommend as a buy, basically for the same reasons I gave in my post of the 18th April. Be interesting to see if the SP responds on Tuesday. U.S. companies have cash to burn off-shore.
Decent rise on the back of a positive recommendation from J P Morgan and a read across from better results from Schlumberger and Halliburton, the biggest U.S oil services companies. That's happening when the POO is falling which is encouraging since generally Weir mirrors the price of oil and commodities pretty well. All we need now is a renewal of the OPEC agreement to consolidate the move upwards. GLA.
Weir has been described in the past as the "perennial takeover target". I guess with oil and commodity prices on the up and general greater optimism in both these fields, together with the relatively weak pound and the Weir SP only partially recovering towards historic highs, it must still be on the radar of US private capital with billions of dollars offshore looking for a home.
Nice rise today probably on the back of a vote of confidence by Blackrock, increasing their shareholding. Especially pleasing rise as its against the market.
Quote from Bob Dudley, Head of BP this week, "We will bring on more projects this year than we have in the history of the company.". If BP are investing heavily then the others will be as well (in anticipation of oil price remaining 50-60 dollars) so the O&G service companies will be back in business big time. Weir on our way!