Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Recent investor presentation with q and a at the end worth watching.
https://www.investormeetcompany.com/investor/meeting/interim-results-173
I’m looking to potentially invest hear but having done some preliminary research, is it correct that kounrad has less than 8 years mining life left, based on 14k tonnes of yearly output?
Caml bought Sasa in 2017 they have since completely paid off the debt, are debt free with $50m cash, continued to payout dividends while paying down the debt, capex will decrease this year returning to normal production expenditure.
The above suggests competent management obviously investors with averages in the upper 220 range will be not be happy with the current performance however others might of bought a position when the sp dipped below 200p or when the sp crashed 2.5 years ago it comes down to timing as is it is with all stocks, if this heads down 140-150p that to my mind would be an excellent buy for a well run profitable company, or to reduce your average.
Nothing stays the same situations change all the time taxes increase as they have here and as they have in other industries the windfall tax for oil companies.
The choice is wether you see value here or not, however one area that is not up for discussion is the fact it is a well run company.
CAML is caught in a pincer movement between higher costs(mainly SASA) and higher taxes at Kounrad, a result of the Jan 22 uprising, where the govt has targeted mining companies in particular to raise revenue to appease the unhappy population. SASA diversified the portfolio, but in truth as the share price tells you, it:s been a lousy acquisition.
We are in a inflationary period and this is worldwide not localised to Eastern Europe, all producers are impacted and their production costs have increased accordingly I would argue that Caml are still at the lower end of the producers cost curve.
If copper, lead and zinc are of interest there are loads of other companies to invest in, from exploration small caps to multi Billion £ producers we have the option to pick and choose, or sit on the side lines.
I guess it is sasa that buggered the margin, the copper site incredibly low cost, don't know what to think of sasa really
They used to be a low cost producer. Gone from being in the lowest quartile to the lowest half. They handed out 15% pay rises in 22 and 23, and even with the local currencies working in CAML's favour, that eats into your margin.
Caml dividend policy is to pay out between 30-50% of free cash flow, however recently they paid out 82% which is probably not going to be the rule.
It should be noted that they are a lower cost producer and even with lower prices for their metals they still generate profits to support the dividend, obviously if profits fall then the dividend would decrease pro rata.
From what I understand there will could be surplus amount copper till 2027,due lack demand, slowing economys especially China, 50% I believe caml copper, which could weigh on copper prices further, my thinking that dividend could be reduced,
Best quarterly update of 2023 in terms of production! On track to meet guidance. As mentioned already weaker commodity price action in recent weeks shouldn’t be hugely problematic given the strength of the balance sheet and our market capitalisation has already fallen to a level indicative of a dividend cut. Can the board maintain the FY dividend of 20p (11.5% yield)?
2027 seems to be the year being touted we will wait and see what happens.
Copper producers warn of lack of mines to meet demand for metal - https://on.ft.com/46nJO1s via @FT
Another steady as she goes update capex due to reduce after paste fill mining gets into full swing at Sasa and the decline gets completed, then we return to normal operational expenditure.
Good to see progress on the solar plant, although music to my ears they only did it as tick box exercise for green credentials not because it was necessary for the plant.
11 % yield on todays prices 😃
Another very solid quarter delivered by the company. SP performance has been disappointing this year but it's a cash generative business which will make huge profits once commodities are back in favour. Until then we'll keep pocketing a fat dividend
What’s the scaremongering on twitter?
The Cu news is mixed, while longer term we are heading into surplus territory currently we have a small deficit. However fund managers are bearish and are taking up short positions see link below.
The global copper market is expected to see a deficit of 27,000 metric tons this year and a surplus of 467,000 tons in 2024, the International Copper Study Group (ICSG) said on Wednesday.
https://www.xm.com/au/research/markets/allNews/reuters/funds-sell-copper-as-technical-picture-deteriorates-andy-home-53656571
Me thinks
Lots of scaremongering going on on twitter etc but this is still a good buy for the long term and I've added more yesterday at these low prices. Might have to be patient but this will recover
There is no doubt Caml fcf has been hit, however in H2 there won't be the $7m Kaz withholding tax to pay weighed to H1, so hopefully production will be up a little to meet guidance improving revenue., I expect divis to decrease as it's a factor of fcf , as it stands expecting H2 to be better than H1.
The ideal time to add would be commodity prices increasing, interestingly although China is mentioned as weak demand I came across some info stating iron ore imports to China are as normal so steel demand there is the same but in the West they have decreased so if they are building stuff in China perhaps the demand for our metals will firm up.
I will double my holding but not sure exactly when, the market knife is falling and i’m not catching it
Being in lower cost producers offers us some good protection as others will now be struggling with debt, inflation to wages combined with fear of a recession driving lower commodity prices which if looked at over a 5 year period hasn't happened yet.
Imo Lead Zinc and Copper are holding up well over that time span.
We have no debt reducing capex next year and a good divi which I see continuing, if the market wishes to mark us down therein lies an opportunity.
Dr copper measures the economic environment. rates create no money, no money, no building etc etc so copper goes backwards. caml is as we know one of the cheapest producers and has no debt, this is exactly where you would want to be right now. as others struggle they might be able to pick up good bargains next 18 mths
As most copper goes into electric Wire Then does the the copper price depend on the state of the building industry. Will the price us of copper raise as the interest rates start to retrench?
Price copper not helped difficult see it recovering much, been horrid hold divi helps, trying reinvest money in acquisition