The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Fingers crossed for some positive updates at tomorrows AGM.
Good luck everyone.
Regal selling down their large holding causing the steady price drop.
Are they balancing the books or do they know something about Toliara that we don't?
AGM tomorrow.
Could someone outline investment case here?
I'm looking at the figures and its looks good. Zero debt, $55.4 million in cash, trading at 50 percent below book value, good revenues and earnings. Charts look good too, Bouncing what appears to be the bottom, but not confirmed yet.
I, myself manage (decide to buy/sell) all my trading within stock & share ISA with Barclays, and Barclays is acting as the nominee to carry out the rest of related actions - I am assuming Barclays must have some sort of "nominee direct debit account" arrangement with BASE, and in turn Barclays passing on the DIV to its clients. The last DIV (100% of it - no with-holding tax) was paid into my ISA account BANG on the paying-date.
The actual requirement stated is "Direct Credit".
This is basically bank transfer as per BACS or FPO. Your nominee account provider should handle this, or if you hold the shares directly you might need to notify the registrar of your bank details.
I am researching this share and thinking of investing. I hold my shares in interactive investor but note on the company web page that dividends are only paid by direct debit. Does this mean dividends would not be automatically credited to my II account like my other holdings ? Most grateful for advice as seems a good company
surely this a binary bet on Madagascar prospect
and few (if anyone) on these boards can form a decent view on the murky politics of that corrupt regime
Hi all, I've bought back in here sub 14p. Much as I love dividends surely the 2023 and 2024 earnings are going to pour into capital costs for Toliara? It's 2.5x the size of Kwale (which is nearly mined out, 2 years left unless they can extend the claim), will require circa $660m capital (some of this number may be Kwale's sustaining capital) and 1st quartile for costs, & NPV $815m..... lots to like!
In today's world of increasing cost of capital surely Base aren't going to distribute and then borrow (at high rates) but instead retain the cash now?
Be interested to know your thoughts, as I'm assuming not to get a 6% yield per quarter.
GLA
Thanks, seems you are quite well-informed with BSE. I am fairly new and only have relatively small (<10k) investment in BSE,. Must say, it was its DIV caught my eyes initially, I got its last DIV, and 100% (no with holding tax) of it paid into my ISA. I am considering to gradually top up more in the near future.
trader76; i agree the divvy yield seems to have been missed by many (but gladly not us!), albeit there is now an element of paying out/back our market cap with only 2 years of production/income left at Kwale; that said, i personally feel that Kwale will extend again, albeit at greater cost/lower margin/lower profit. As i said before, that 2 years production and cash at hand equal SP, so any extension is free money, and Toliara a possible bounty creaming the cake.
5 major holders, holding 75% of the stock aren't blind to it, the divvys. Only time will tell, but i see little risk to my investment and much upside.
Let 's hope so.
BTW, the DIV paid out so far for 2022 is over 25%, and very similar for 2021, but seems it is yet to catch the eyes of large amount of the investors
trader76; yes - the cash in hand in tandem with the ongoing sales supports such, irrespective of costs for Toliara.
If Toliara does kick in, i'd expect (be happy) it would be the last , to support Kwale income end/Toliara cost start migration.
And i'd be happy with that viewpoint being realised - but then i'm taking a 3 year view here
Maybe another juicy interim DIV Feb 2023 ?
and an interview damo
https://www.proactiveinvestors.co.uk/companies/news/996417/base-resources-delivers-best-revenue-quarter-as-demand-for-rutile-continues-996417.html
Good progress update that.
Bit of a no brainer this; 2 years profit and cash at hand equal market cap so if kwale ends, end 2024 and no further production/progress, your money back. With the prospect of Toliara thrown in for free. Happy to sit patiently.
I see this now as a decent gamble. If Toliara is agreed I reckon it'll be a ten bagger or more within 5 years. If it fails maybe a 50% loss. May the odds always be in your favour.
Anyone any idea why the SP has dropped so much recently? Not found any RNS?
in the meantime- off the company site-
2022 Annual General Meeting details
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that the company’s 2022 Annual
General Meeting will be held at 11.00 am (Perth time) on Friday, 25 November 2022 (2022 AGM) as a hybrid meeting:
• in the Subiaco Room at the Vibe Hotel, 9 Alvan Street, Subiaco, Western Australia; and
• online via the Lumi software platform accessible at https://web.lumiagm.com using the Meeting ID 347-783-111.
.
Anybody have any idea why no RNS have been added to this site since April ?
Ex- div today. This is propping my isa up nicely. The last few years dividends have covered my initial share purchases so now on free carry. Happy to keep holding as events in Madagascar unfold.
Did anyone listen to the Results broadcast today. Very impressive numbers and another nice dividend in the bag. 41% increase in revenue due to higher prices and operating margin up 52% at $425/t.
Good opportunities to extend the Life of Mine in Kenya and Toliara seems to have a "clear pathway" to Fiscal Term Agreement. Now October? Govt. expectations have moderated on external advice (World Bank etc.) and the increased value of the project over 38 year Life of Mine has increased the Govt's sense of urgency to get on with it. $2.4 billion of value to Madagascar over the Life of Mine. Not to be sneezed at!
Two months for the inaugural Sustainability Report to be released.
What will BSE be worth once Fiscal Terms are agreed on the Toliara World Class asset? A lot more than 20p per share surely. In the meantime a 9% dividend to enjoy in September.
strong cash position
A final dividend
and:
* Continued strengthening of demand for all products, with increases in
average achieved prices of 26% for rutile, 42% for ilmenite and 57% for
zircon compared to FY21.