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Looks like i timed this one just right for a change. Bought at 364p last week.
lets hope the rerate continues
Almost £300k paid between the BoD guys.
Purchased:
9th February 2024
Chairman Ian R Carter
£188,430 55,000
If you put his previous 35,000 shares purchase, he's actually averaging to about £4.67 on a 85,000 total shares held by Mr Carter. The guy is worth over £100million.
9th Feb 2024
Chief Financial Officer
Anders Romberg
£103,998 26,666
Check his previous £600k purchase back in September 2023.
The guys above are loading it up and trying to average their investments after paying almost double for the same shares back in 2023.
A positive RNS yesterday followed by £188,000 worth of buys from the company chairman today. Shows massive confidence in the product.
Two things struck me from the RNS that I don't think were mentioned previously.
1. Web sales in UK were down a whopping 15%. Like many retailers, they pay Google millions to make sure their name comes at the top of web searches so this may be a reflection of them spending less on promoting on line.
2. Duty free trading is back on the horizon. It was abolished as part of Brexit and has really hurt WOSG. The company has not only many stores at the terminals in Hesthrow but also they have large flagship stores in London / Knightsbridge. They have been hit by the lack of foreign visitors caused by this senseless decision. Hopefully even a Labour government will see the benefits of attracting foriegn tiourists to the UK by reintroducing VAT free shopping.
Update confirms what we already know. The big plus is that nothing is deteriorating with a good growth in the larger US market and elsewhere except in the UK, stagnating for the time being. So overall this looks positive and is the base for restarting strong growth from now on, as economies start picking up again.
Why do BlackRock sell off more shares? Do they thing this will down more as holding RNSs down the line. As they have bigger positions and more risk so they run away first.
The next Trading Update (Q3) will be announced next Thursday the 8th of Feb.
IMO the sharp 50%+ drop from £8 to where we are now has probably assumed the worst case scenario.
Any decent update will kickstart a recovery in the share price which is at 5 year low.
I will have a punt if it's goes to bellow £3
Now support is broken, no reason this won't go under £3 soon.
Yep, I think this is the risk at least in the longer term for WOSG. Big brands get bigger and sell direct. Smaller brands need discounts to shift. Has even happened to Tudor recently. They can get squeezed.
Agree redwineday can't see interest from the big luxury houses. Richemont tried the third party retailer route with their stake in Farfetch and ended up having to write down that investment, that will be a cautionary tale to rest of industry. Most key is that they are all already strong on direct-to-consumer these days, both physical and online, no benefit to be had by absorbing a third party into the chain.
Could certainly see PE interest.The big luxe conglomerates I don't think so. The big egos at the big brands wouldn't want the big egos at the other big brands selling their toys. Anyway WOSG is starting to get me interested at this level. Maybe just need the fed to lower the rate.
At such distressed share price, I won't be surprised to see a bid approach materialises when one looks at its long term potential.
A few months have passed now since the takeover speculation died off and the share price was then at £8 level or 54% down ...
"Watches of Switzerland surges on Betaville takeover speculation
Watches of Switzerland surged on Tuesday after markets blog Betaville said in an "uncooked alert" that the company was at the centre of takeover speculation.
Betaville said that people following the situation have heard rumours Watches of Switzerland has attracted takeover interest.
The identity of the company circling Watches of Switzerland is unclear, Betaville said, although there was some suggestion it could be a luxury goods giant.
Other people following the situation suggested a private equity firm may be interested in the business, which prior to listing on the London market was owned by US firm Apollo."
In fairness, it has had a nice little bounce off the low print.
IMO, it will need to have a few green days (and no more new low prints) to suggest it has found a floor.
My opinion remains unchanged here, but who knows? JP speaking later today might get this back up. For a bit. GLA.
Watchman, MC are earning plus no good news around for WOSG things will get worse before they get better regarding economy.
Was feeling sore, he brought these at £9 +
Ade, I agree the omens are not looking good right now and you have consistently been bearish on WOSG. What makes you think this is going sub £2 when you have never posted this before? Is this just a case of you swimming with the tide as I've never seen you back any of your 'predictions' up with any facts or research.
Since they last bought they must be feeling a bit sore about sitting on what have become 40% losses, and market may well dismiss it as papering over the cracks again anyway. US consumer as resilient as ever, S&P500 near to ATH so fed decision may well not touch sides here. With wider luxury market stable too, it really needs a WOSG specific catalyst imo to turn it around. Hard to see that coming right now.
I can see a potential trade or two before that scenario; obviously feasible bounces here and there, depending on what the Fed says, rate cut talk etc, but I would have expected to have seen some inside buying by now.
I mean, if they do not put their hands in their pockets at these prices, then why should anyone else?
The trouble with Money is he was very bias because he had a lot of money in WOSG and was deep underwater, so he would just paint a rosy picture.
I predicted this drop last year and i now think sub £2 is possible.
It's a shame, because he sometimes comes out with some fair points. Nothing wrong with sharing different ideas and opinions, after all.
If he can learn to control his impulsive responses to disagreements, then it will probably be as much to his own benefit as others.
Anyway, looks like you got in a bit too early, for once, Mary.
Good to know you make mistakes occasionally too :) You are still a better trader than me though (which is not difficult, granted!), but I did have another look at this one after I saw you had taken a position.
Hope it comes good for you and your fellow holders here. It is on my radar, but I still do not fancy it right now.
Which probably means the bottom is in! GLA.
In one respect his posts were actually quite useful, forget the Wace shorting or Bucherer overhang, when a nutter like that is bullish on a stock time to dump it like a hot potato
Strong....
I think the thought police caught up with him.
Question for you Mary on our Pharma BB.