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Topped up ready for monday
Fingers crossed
Strange drop today pre dividend announcement
Up 20% from low at start of July. Lots more to more when div announced
Cash in June 22 was $55m now $93m
I expect a fair div
The Company is targeting release of its FY23 audited consolidated financial statements in the week commencing 28 August 2023.
Declaration of dividend is 21st August 2023. Canacord forecast the FY2024 dividend (full year) at 0.8p/share which will cost $15m (if declared). The problem is forecast Capex for next year is $10m and Operating Cash flow is forecast to be just $1m.
y/e Cash (30/6/23) is $93m and the Toliara project will require capex of something like $570m. If I were the CFO I'd pull the August dividend, to minimise the borrowing requirement. Saying that, I'd have built a war chest and not awarded a dividend for the past 3 years. I'd have built up a warchest of about 60% of the Capex of Toliara as a result...... I guess they are far more relaxed about their ability to borrow at reasonable rates than I would be.... or they've blind sided themselves and now face expensive funding if/when Toliara proceeds.
On a more positive note, it's interesting that today's 9p share price comprises a valuation of Kwale of 2p/share, cash 6p/share and Toliara 45p a share (less 16p corporate/minorities). In other words, only about 3% of Toliara's NPV is baked into the share price. Keeping the cash rolling at Kwale and getting moving on Toliara is what will bring this to rerate - and not maintaining the dividend, in my view. I love dividends but I'd rather not have one next month.
GLA
Nice rise today, probably due to investors are anticipating a good healthy DIV coming SEP
I assume 2c, 3c, 4c are in Australian $, so 1.5c (US $) would be about 2.2c (Australia $)
Historically BSE have paid more
March and sept
If tol is further delayed then no need to sit on cash
2c expected 3c would be Nice 4c great
Mc 101 cash 93
So based on the total number of shares . mentioned in the RNS
"...The Company has the following securities on issue:
1,178,011,850 fully paid ordinary shares.53,598,359 performance rights issued pursuant to the terms of the Base Resources Long Term Incentive Plan.."
and if 20% of 92.9 million cash to be paid as DIV
then the DIV would be about cent (US$) 1.5/share (or pence 1.17603476/share) which would be about 13.75% return based on today's share price of 8.56 pence (even though the market has reacted pretty -ve against today's RNS (not a brilliant by any measure except holding 92.9 million cash with no debt )
20% is about sector average?
From the latest (25/7) RNS release, it says
".... As at 30 June 2023, the Company had cash of US$92.9 million and no debt...."
Question is what percent of the 92.9 million would be paid as DIV ?
The IEA 'Critical Minerals Data Explorer' highlight the near term surge in demand for Zirconium for Hydrogen production... Link below for anyone interested
https://www.iea.org/data-and-statistics/data-tools/critical-minerals-data-explorer
Starting to appear
Should show more cash growth
Expectations of some coming back to shareholders in Sept
Big in Sept fingers crossed
What do you think about near coming dividends?
Maybe something good happened. People buying big time today.
From what has been written on the Australian forum HotCopper, they are nothing to be excited about unfortunately.
Anyone know what the Tanzanian drill results mean in plain terms? Do they look good or not?
Sorry I didn't notice that someone has already posted a link to this update last week..
Not sure why BSE has not release this as a RNS, but overall it is good progress
https://wcsecure.weblink.com.au/pdf/BSE/02657605.pdf
Do you think when they start working on Toliara the SP will rise?