Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Well, the SP might not be heading in the direction we want but at least shares are being actively traded again which can only raise the profile of this company and generate future interest. Fingers crossed that we get some significant news soon to start sending this SP north again. GLA. Doc.
lack of news,few traders sorting their tax retuns. Anyways sellers are out. Charts pointing movement in the right direction. News time getting closer & i will happily enjoy the fireworks here.:) This will move like propelled rockets.
Yangzijiang Shipbuilding Holdings YAZG.SI YZJSGD SP EQUITY: CAPITAL GOODS Price catalysts abound in 2Q15F Time to accumulate one of the most profitable yards in Asia, backed by strong order backlog Maintain Buy with a TP of SGD1.56, an 18% upside potential We retain our Buy rating for YZJ and TP of SGD1.56, which is based on 1.2x forward P/B on BVPS of CNY6.1 as of end-FY15F. We believe there are several catalysts for YZJ’s share price from 2Q15F. BDI’s slow rebound from mid-February might get a seasonal boost The Baltic Dry Index (BDI) has stayed below the 800-level for more than three months for now, with ship owners running ships at below cash cost breakeven. The rebound from the record and unsustainably low of 509 in mid-February to last Thursday’s 588 should receive new support from the seasonal upswing for iron ore and grains seaborne trade globally in 2Q-3Q15F, and the rise in ship demolition activities YTD in 2015. We expect the possible BDI rebound to be positive for the investor sentiment on YZJ, which is the leading global yard for dry bulk carriers, as the correlation between BDI and YZJ’s forward P/B is 0.8, and P/E is 0.7 (refer to our initiation report, published on 5 Jan 2015). Near-term boost from impending dividend payout on FY14 earnings We expect YZJ to pay its one-tier tax exempt dividend of SGD0.055 per share for FY14 in May, after the shareholders’ annual general meeting on 30 April. This implies a 4.2% dividend yield in the near-term. In the long-term, we expect YZJ to raise its dividend payout to SGD0.06 per share for FY15F as we expect the group to return to net cash position by end-2015F. We expect earnings in FY15F to surprise market expectation positively We expect YZJ’s 1Q15 results to beat consensus, with our net profit estimate for FY15F being 25% above consensus. We believe the market has not fully factored in: 1) the up to CNY356mn of general provisions (made in 4Q14) that can be gradually unwind in 2015F, as YZJ exits its real estate-related held-tomaturity products; 2) better-than-expected shipbuilding margins; and 3) writebacks of contingency provisions made on its maiden jackup rig order. Year-end 31 Dec FY14 FY15F FY16F FY1