Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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It will go back again , there would be a big legal challenge if the gov tried to enforce this on companies unless they did not use approved materials. One cladding manufacturer has already been whistle blown on for falsifying data , they can pay. Barratts paid out about £140 million a few years ago to rectify cladding on a London joint venture saying that they would make the problem good themselves then go after the people responsible, Barratts have no heavy involvement in this type of build
Let's hope all the MPs who were in post when the relevant building regs were passed feel morally obliged to chip in to rectify their mistake - knock a few grand off each of their pensions perhaps.
Oh, no - let's just take money off those companies making profits to appease potential voters, irrespective on unintended consequences.
Same as a windfall tax on fossil fuel companies to pay for Energy price cap - appears simple but the costs will soon turn up at the pumps, penalising the least well off the most.
Have we lost all common sense?
I can see a future cladding repairs deal being struck... between the Government/Developers/Cladding manufactures and The National Lottery.
So do buys these good chappies as they go down for a little while.
* NOT now be asked to foot the bill
On the basis that a developer built in accordance with the then applicable building regs, that developer should now be asked to foot the bill for remedial action the need for which has since become apparent.
Responsibility should rest with the party that created the regulations. - i.e. the Government.
Bit of a non-progressive Govt policy.
Do we think the developers will bear the cost or just pass it on to the new house buyers? Even more house price rises and then more need to rent for those who can't afford the new prices and a greater buyer / renter divide. Owners / tenants always pay in the end.
My view s that if the original developers lied then they should pay, if they didn't then the owners should - don't disrupt the whole housing market. A bit like leasehold ground rent agreements - read the contract before you sign it - tax payers are not responsible for individual incompetence.
Any ideas how much exposure Barratt will have to the cladding? Could become very expensive for the company!
Feels like a safe entry point here :)
7.50, John boy? That's shallow water, son.
good to see hold above £7
hope to see it test £7.50
Yacht in dry dock getting a coat of paint and her bottom scraped! Looks like the Bahamas this Christmas and New Year. So, thanks again, bdev.
Raised my pre-set sell to 850p. Got a lovely dividend pay out that's going back in.
Time to buy in again... Another cycle is about to begin.
disappointed this was down Friday with the Brainard rumours swirling, let's see who he picks this week, if it is in fact rainard, this should pop over £7...
Where are you all - out celebrating?
This shock is good for builders
It could be the spark to push us nearer to £7
Albeit we know a mortgage hike is coming so
it will cool us in time
nice
it feels to me like we are in a new trading range 630-680's (£7+ is 2022 in my opinion now)
but long term these are 'safe as houses', lol
got my average to 656 now, so hoping to start flipping soon
GL all
Just bought another £3k - bargain prices today imv.
Looks like drop today has been triggered by possible rate rise. Good for banks and bad for house builders.
MM games, it's endless in FTSE.
Or drop back to 6.40’s
It certainly feels like it wants to go higher but
resistance kicks in (or MM games )
And back down
GL all
slipping back down to £6.50
bbrinkw,
“Analysts’ old rule of thumb is that house builders are potentially cheap if they trade on one times book – or net asset – value or less and potentially expensive if they trade on two times or more. Barratt currently trades toward the low end of that range, at 1.3 times book value per share."
..............................
To apply that yardstick ~ which, broadly speaking, I agree with ~ you need to take out goodwill & intangibles first.
Barratt has rather a lot of those, bordering on £1 billion.
Which then takes their BVPS as at end of June 2021 down to 445p.
Which makes them more expensive on that basis than Bellway, Redrow or Taylor Wimps.
Still reasonable value on any long term measure based solely on PBV, mind ~ just some way off best in show.
Strictly
AJBEll financials for BDEV Friday 15 October 2021:-
Historic Price/NAV(x) 1.3x
2021E PE( x) 10.3x
2022E PE (x) 8.8x
2021E Div yield 4.3%
2022E Divi yield 6.2%
2021E Divi cover 2.29x
2022E Divi cover 1.83x
"Nor does Barratt look particularly expense on the basis of earnings or book value, either, after the recent pull-back."
“Analysts’ old rule of thumb is that house builders are potentially cheap if they trade on one times book – or net asset – value or less and potentially expensive if they trade on two times or more. Barratt currently trades toward the low end of that range, at 1.3 times book value per share.
And yet still they refuse to be responsible with their waste and let others suffer. Disgrace.