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NO...
In September RNS Bobby said ...New sales office in Leicester, increasing the team to 40 people; and investment in a new automated sales platform. Plans to extend sales operation further with the development of a new purpose-built office
So at that time it was a PLAN to grow to 40 and a PLAN to develop a new purpose-built-office.
The NEW RNS now goes much further and confirms that they have SOURCED (No longer planned) a purpose built office (AGREED COMMERCIAL TERMS ...i.e. signed on the bottom line) to move into next year - with space NOT For 40 .. but up to 400.
We already know this ? why release this news again all long term holders are very much aware of the new office ? something not right.
Brilliant release of news prior to update due next week.
GROWING business ... GROWING staff ... CUSTOM BUILT premises ... Parking for 250 and office to grow to staff of 400
Yes bloody YES.
New office facility in Leicester
New purpose-built office in Leicester supports Group growth ambitions
Yü Group PLC (AIM; YU.), the independent supplier of utilities to the UK corporate sector, confirms that it has agreed the commercials for its new purpose-built office facility in Leicester.
As announced in September, the Group recently expanded its Leicester operations with plans to invest in growing the sales, marketing and product teams further. This new state-of-the-art sales and innovations office provides the Group with the necessary capacity for its ambitious growth plans, supporting the drive to invest in new sales channels and digital innovation. The facility, which will open in January 2021, provides space for up to 250 staff and, in time, can take the team to a total 400-strong work-force across Nottingham and Leicester.
Bobby Kalar, Chief Executive Officer of Yü Group, commented: "Our service offering is resonating incredibly well with customers. There remains an enormous market opportunity to engage with the vast number of businesses who are disengaged with their current utility supplier and who are looking for value for money, convenience and excellent customer care. We ensure that our service meets these high standards. Investing in our Leicester capacity, along with our recent investment in new systems and processes, is a significant part of our business strategy to drive continued controlled growth."
Here is history of last 3 trading updates: Yu Group is very consistent with the date. I expect trading update next week. Monday will be 27th. So it could come anytime next week. If i had to put money i would say Monday or Wednesday!
( Wednesday) 30/01/2019 7:00am: Yu Group PLC Trading Update and Change of Auditor
( Monday) 29/01/2018 7:00am: Yu Group PLC Trading Update and Notice of Results
( Monday) 30/01/2017 7:00am : Yu Group PLC Trading Update and Notice of Results
The company can take as long as it likes. Great Ceo, great fundamentals, great crew on this board.
Woodie
Im actually happy to wait this out. This company has made all the improvements they needed to make in last 18 months. The stock price should never been at £1 after all they have done. This update will be important as all the changes should start to reflect in the revenues. Looking to add few more today.
Also I am expecting a wave of consolidation through 2020 and 2021
survival of the fittest and the ones who survive will be goliath cash cows
yep, update has always been the 30th Jan so expect nothing less again. we have had a few impatient selling so what 10K yesterday is nothing and they will be cursing soon enough.
buyers will come soon enough prior to the update
TICK TOCK TICK TOCK
Update coming - that's guaranteed
We will see some upward momentum through to end of month
You would think if good news was available they would get it out , after all its just going to be an update, we will not see the figures till march, pi/s walking away the rest sit and wait.
Interesting
I see Brook Green Supply have done something similar with SCMI as reported today....
SSE to OVO and Engie to Octopus... both have excluded business accounts. I conclude that whilst M&A continues, business energy accounts are still more important to companies than domestic...
Good weekend all.
I anticipate the update to be w/c 27th personally. If SP can stay around this level at least, and assuming the update is in line wiyh what mgmt have said, I'm hoping we can start a proper SP recovery to where things were before FCA. In any case, good to see sustained trading in Yu for now
judging by the the buys this morning they are taking a chance that they will release the update on monday, well there's a chance of course but to me it's this monday or next? and if the update is promising and making head way then we will look for a sharp re-rate here as its very much under valued even going on last years figures. will be topping up my self. The news should be good in my view as everything that's been done is to increase shareholders value here.
Relatively quiet trading today compared with the last few days. Like others, I eagerly await the next update but am a LTH in any case. My expectation of the update is to be just what mgmt has said. I don't expect profits but a marked improvement and an insight to show Yu will become profitable in 2020 or early 2021 at the latest. I'm comfortable with the company and how it is run. At a macro level, UK wholesale energy prices have fallen throughout 2019 and continue to do so. Gas is well supplied and wind power has come a long way. Next few years wholesale prices in the UK are forecast to stay that way. This helps profit margins. There is a real push for smart meters and EV charging in the UK that should play into Yu's favour. The new hedging facility was a masterstroke. Water is another growth area. All in all I don't see why Yu can't hit its margin targets. The SP should follow suit.
I bought a few more today.
I like the Ceo.
Wallace and Gromit face waiting for results.
each day with sells. Something that never used to happen in the past.
This is primed for breakout soon!!
Having considered recent news flow I have decided to get in here. They are saying a blended gross margin of high single digits, which I take as say below 5% for the historic contract book and comfortably above 10% for the new stuff. Once the old contracts are expired and revenue growth kicks in, when profits arrive the profits will be substantial (especially on an eps basis). With eps in the 30p to 50p range and a modest PER of 15 to 20, this is a real multi bagger. A loss is inevitable for H2 2019, which once announced may plunge the share price - a time to buy more should that be the case. However, the market should be wiser to reality and be looking forward, so I think any downside risk is limited. I think 2020 will be break even-ish, with better gross margin but offset with higher marketing sales costs / investment for revenue growth to resume in 2021. Expecting 2020 revenue to be similar to 2019 (as the company has already indicated this).
And back we go. Feeling more relaxed every day here.
GLAH
indeed , a few will start sniffing soon enough.
It may well be subdued this morning - and when the sp holds the buyers will come back in. It will be interesting to see if this base has any strength. Here’s hoping....
Matt
few sellers trying to drive the price down and get back in cheaper, sometimes it works sometimes it doesn't