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It is claiming back now. Even of it would fall back to 70s, it would nothing to do with the fundamentals of the company rather then the general market sentiment. Update is due soon we shall see.
Ouch. Not a single holder in this company is in the black. Looks to be a scramble for the door for the 80p crew and anyone else who has had enough. At least all those staff who purchased at 80p are under water now along with the rest of us.
Management have no clue, and/or perhaps don't care, about managing shareholder investor expectations. Time for another vague, perky update and to extend the growth horizon out another year or 2? Without some concrete trading information until April, the limited liquidity and the state of the market I can see this falling to 70p, perhaps lower.
Thank you for keeping the pot simmering on this board ragnar. I'm also looking fwd to receiving news. It's another recent IPO which hasn't entirely worked out, share price-wise, but I remain hopeful of good trading performance, which will reveal the attractive valuation. Bit worried about effects of a tight labour market.
Another ridiculous update from peer AFX. 67% revenue growth! I've lost count how many times this has been upgraded in the year. We could be ecstatic with half that number.
https://www.investegate.co.uk/alpha-fx-group-plc--afx-/rns/trading-update-and-intended-board-change/202201190700078798Y/
What it does say is that the model of throwing sales people at potential customers works. Hopefully AGFX can prove that too. The SP seems primed for disappointment seems to looking for an excuse to dip below 80p.
If 2021 is anything to go by we are due a trading update for 9 months performance within the next few days. But if its anything like last year's there's not really much point. This was one of the least informative TUs I have ever read and seems to indicate that they don't know how the year will turn out.
"Argentex is pleased to report that trading has continued to improve following the announcement of its Interim Results on 20 November 2020. Although the full effect of the latest lockdown has yet to be felt, the recent Brexit trade agreement and the successful implementation of the vaccine programme for Covid-19 provides the Board of Argentex with confidence that this encouraging trend, driven by a return to historic client trading behaviour, will continue for the remainder of the financial year to 31 March 2021."
A quick comparison with Equals yields a fascinating result,
Consensus Measure Current Year, AGFX, Equals
Sales, 36.3, 38.3
Sales Growth, 29%, 32%
EBITDA, 11.4, 5.25
Market Cap AGFX £100m, EQLS £120m
For 20% less MCap you get a business with similar sales and sales growth but with double the EBITDA. AGFX is undervalued against Equals on any measure. I don't need to do the comparison with AFX, its even more undervalued doing that comparison
Its so small no one seems to have noticed :-)
Positive updates from Equals and AFX today
https://www.investegate.co.uk/equals-group-plc--eqls-/rns/trading-update/202112080700068858U/
https://www.investegate.co.uk/alpha-fx-group-plc--afx-/rns/trading-update/202112080700068960U/
Could be the article in the Investors chronicle.
IMO its not transfers as the price would stay the same
its buyers the rns was really good
Some very large round blue numbers. Must be some transfers
Some massive buys this morning, not PI's, I guess.
I was beginning to think I read the rns wrong but looking good just wish I had of topped up yesterday
Yes, it depends on the point of view.
A Bad Joke? or a good investment perhaps :-)
Half year EPS was 3p, for the year It should be around 6-7p at least. The SP should be between 1.2-1.4 GBP with a PE of 20 considering the peers. And we talk about a a growth company, next year revenue and earnings should grow without the severe impact of national lockdowns on economy. This SP is a bad joke.
I thought the new CFO was very impressive...CEO in waiting?
Fiasco is a pretty good word for it. Don't think I have seen a more botched director sell down. Surely he could have got a better price than 80p? It seems like something more was happening than CJ just getting sick and that he has taken a hit of several million just to take a parting shot at the company. The story about him getting covid/long covid is only a rumour. I can understand the company not wanting to encroach on his privacy but some kind of explanation is warranted. Unfortunately now the company seems to have adopted a forced liquidation price as its value, but I think that will change as the market becomes more comfortable with the growth profile after a few more results and this all blows over.
In these small caps. it seems to me that it is the few people that trade the shares that make the price. Carl's 10% or so was a hefty wack and clearly someone has been selling for a quick profit.
I think this Benjamin Graham quote is apt:
"In the short run the market is a voting machine, but in the long run it is a weighing machine.”
I don't think they handled the whole Jani episode particularly well. Very reluctant to talk about it. Questions that they couldn't or wouldn't comment on in their presentation. Just a rush to buy 12 million share for 80 p at 40% discount to where they had previously been trading. No wonder the market thinks ok they are only worth 80p according to management. The shares initially rose after the announcement that Jani had resigned and them went into free fall when he started selling.
The dividend is 3.3%. with revenues a bit less than half of AFXO who have about .04% div yield , not that they pay one and a PE of 37 compare to 9. Peg ratio 2 compared to .3. Earnings growth for Afxo 27 compared to 37 for AGFX. Lots of talk about the gap closing between the two companies in terms of trade. Afx had a 2 year start on AGfx. They have only made small inroads into this market which is still mostly handled by banks. So plenty of room to get more share for both companies.
They have impressive backers. I think this sp fiasco says most about greed and poor investor relations.
Vol. Sold 64,390
Sold Value £56.02k
Vol. Bought 208,897
Bought Value £181.74k
It reminds me a lot of Loopup. Strong pipeline, lofty sales goals which they said could simply be achieved by adding new sales pods. I got sucked in while the rest of the market was selling. Have a look at the chart on that one. Painful lesson there that stocks that appear cheap are often cheap for a reason. Saying that Loop wasn't experiencing 30%+ revenue growth.
So yes keeping an eye on this one. Next update in January will be critical. One part of me wants to buy more but the other wonders why no one else is
I can see you have a well-developed "suspicion antenna", which in the lower reaches of AIM is a very good thing! I agree, something's not adding up. Let's keep an eye on this, for clues either way...
Yeah just a marketing exercise. The investor meet pres was similar. Precious few details on numbers and concrete growth plans.
Whats interesting is that Numis has EPS rising from 7.9p this year to 10.8p next year. That puts the company on a 1 year forward P/E > 8, but with growth of 37%. Clearly something ain't right there. I guess the market isn't quite convinced by the proposition of merely throwing people at the market and producing sales.
I was wondering about the dividend myself. I don't really know how they get a dividend of 0.75p... this equates to about £850k, which at 30% would give an implied adjusted PAT of £2.8m. I can't see a single reference to 'adjusted PAT', only PAT which is £3.3m. Using this number would give a dividend 17% higher
I bought shares in mid September and topped up in mid-October. It has not gone well. It's hard to know what to think now. He is relentlessly upbeat, this Harry fellow, but, as you say, the market just doesn't believe him. There are a lot of good questions that could've been asked in the interview, but proactive investors gave him such an easy ride - it's just ramping really.
Also, the announced dividend is paltry. If the Company's dividend policy is to pay out 30% of profits, then an interim dividend of 0.75p a share is hardly impressive in that context.
Looks like mkt doesn't believe the story Harry. SP is plumbing all time lows. Its a little difficult to reconcile the train wreck of performance since IPO (and failure to acknowledge on delivery of lofty promises) with the optimism for the future.
Reaction looks pretty harsh given earnings expectation downgrade of around 10%. Does the market think there may be more to come? Looks like fund or funds drip feeding algo sells pretty constantly since the trading update. I'm a buyer below 80p if it gets there
https://www.proactiveinvestors.co.uk/companies/news/965555/argentex-group-says-business-is-on-right-trajectory-following-record-first-half-performance-965555.html