Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Yes of course they have. The printers, the accountants, the staff.
If you are invested and doubt the strategy then bail, if you like the future the add. A 5p move down following a move from 140 to 154 is not exactly conclusive evidence of a leak.
If this goes to 120p or 170p I will continue to be contrarian to the moves. A LT winner and adding and trimming all the way to the bank (less tax of course).
Just need the dividend back and then that will be a gamechanger.
Has somebody got wind of the results hence SP down?
Tyler
Fully aware of the wording from last update but ..... strategic review is nothing to do with the integration of acquired companies. I was involved in integration management of acquisitions for almost three years and part of there business case for the acquisition is the timely banking of gains due to rationalisation of systems and resources. Clients are talked to before the deal is done to ensure they are happy with the move and the benefits it will bring to them - provided they are confident they are getting better service they really don't care who is heading that up for them. Granted there are clients who don't like the change of personnel but there are few and far between. I maintain my position in that this is nothing to do with integration of acquisitions and all to do with overhead rationalisation probably on the back of the Oracle system they have spent the last 6 or 7 years implementing and was procured on the back of cost reductions due to overhead reduction.
Totally agree tyler
Expecting a run up now to the mid 70s
Aucuba, you are right that the acquisitions were a while back. However, companies tend to allow projects to come to a practical end before completing any consolidation, partly due to contractual commitments with ongoing long term clients. Below is an extract from their last update which states that the strategic review has been on-going for a year:
“We are now one year into our strategic growth journey and our results
continue to show clear progress. We have delivered strong revenue and EBITDA
growth, improved our underlying cash generation, grown our order book, and
continue to see an acceleration in the proportion of sustainable solutions
within our pipeline.”
It also states:
“We are confident that our actions, business model and strategy are delivering
and look forward to giving a further update in March.”
As you’ve said, these are overhead/support positions. This makes sense as senior managers often partly book to overheads and have separate department budgets. They need to be consolidated. Also, I’m glad that they’re only looking at overhead positions and not technical roles. The latter would a bearish sign.
Combining the Sky news story with earlier company update, in my opinion only, it’s bullish for the share price. Hopefully, this will be confirmed next week. Good luck!
Tyler19
Last acquisition was a long time ago and all integrations synergies and cost savings from these are already baked in.
These are overhead/support positions which are going unless a fairly large reimbursable contract is coming to an end (planned or otherwise) in which case the savings go to the bottom line. We will find out soon enough one way or the other
The company consists of a number of legacy acquisitions which need to be consolidated into efficient units. This probably requires a number of senior roles and offices to be merged and hence, a small number of job cuts and potential consolidation of buildings. This news alone may even be a positive when looking at profitability metrics.
Worked for wg for 6 years there is a lot of staff sat on there ar@e doing nothing day in day out.
Reality has hit them.
Gilmartin was the fall guy brought in
This is finished for holders now
Another legacy train wreck next week and it’s Easter misery here
What a disaster £8 to zero
I hope the share price does not over react too negatively on the news of upto 200 jobs to from a workforce of 12,000. In fact the SP should increase given lower costs and higher profit. Get the bad news out the way before a set of good results.
" it’s good for Wood to have more employees rather than less!"
Depends if they are deployed on reimbursible work or getting rid of some from the corporqte/overhead part. If the later, could save them 10-20mill a year.
If the are reimbursible (which I doubt) they lose that much revenue of which only a couple of percent would be profit.
And I think they can't very well reinstate dividends and cut jobs in the same announcement.
Shares dropped on the back of this after having done quite well over the last two days. Expect this to drop more in the days leading up to the results and even further if the news turns out to be true. It's not a significant cut in jobs but just the fact they are doing it is going to be seen as negative.
Https://news.sky.com/story/oil-engineer-wood-group-to-cut-hundreds-of-jobs-13098692
Pippored - Remember that Wood is a consultancy/design/project management business; profits depend on having competent people earning revenue from client contracts to cover Wood's overheads and generate profit and cash. As long as we’re talking fee-earning professionals it’s good for Wood to have more employees rather than less!
Guess a dismission of personnel is approaching to reduce costs, hence the share is getting a premium
Just happy trimming and adding here sub 133 to 156 range - every few days. Looking forward to a results day pay off.
Yes Mary, very oversold and think they back in play before long..
Saw that, notices a pop to 151 yesterday that fell back, expecting 170 on results day. Let's see a cheeky Apollo bid again.
At fair premium too. Interesting to know whos loading more? Gla
I don't see any reason why this should increase into the results on the 26th - no major new contracts and nothing to change the figures from the update they recently presented. Just delivering what they said however should keep this steady
Looking forward to an acceleration upwards in the lead up and on the day.
Aucuba
Horses for courses. Just feel this is a buy the dips so in yesterday at 139 and trimmed 70% 146+ so an extra 30% at 122p to add to core and not much trouble.
Price bouncing up off of the long term support trend. Hope to see it stay up and recover upwards now.
MaryBr
I know you are not doing this as a one off but my comments (and those Rhinocol) still apply. This one is back where it was at the time of the Apollo bid and you are "betting" on another bid and/or the price rallying . My point is I don't think it is going to rally to the price you are projecting/need in the short/medium term and placing your money somewhere with a reasonable rate of dividend return and some more price stability is my chosen strategy going forward.
As always the chosen strategy for any investor is based on personal circumstances and their time horizon and your strategy obviously differs from mine on this one.