Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Can't see them being allowed to relist on hkex based on p40 and 41 unless I am missing something? What a shame as business looks very promising. They will have to take it private I reckon
Doesn't look good on p 40 ,Question if not aloud to continue trading in hkex , could they re apply to aim ?
Lads page 40 in the report is a horror show. Dla report in January was very clean cut stating no wrong doing. This is completely the opposite. I am completely perplexed.
Some key narrative from report that interested me
“During 2020, the Group secured 33 contract projects with a total contract value of approximately RMB659.3 million and completed 26 projects. As at 31 December 2020, the Group had 40 backlog projects with a total contract value of approximately RMB722.7 million.“
Nice. Interestingly Company A was a biggie at around 40% of revenue and clearly a massive win that had it been announced normally would have led to a massive rise in the share price. but unsurprisingly we have no information about it whatsoever?
“The development plan of fuel ethanol in China is still proceeding in an orderly manner as planned,”
So hopefully means Ethanol market is growing as expected.
“In terms of the direction of the Company’s business development, in addition to maintaining the existing business in mainland China, we will also expand new businesses.”
So company is finally going to push abroad. I noticed Myanmar was a new country. Will be interesting to see 2021 and how those many PR and marketing contracts all paid upfromt and in cash with nothing to ahow for it will bear fruit. If we see £20m for India great. If we see 0 i wonder if the BOD bought nice cars and holiday homes in 2021 :)
I was told 2021 could be just 3 weeks away so lets see.
Revenue up 30% to £63m and reserves are now £30m that is available for dividend. and we are worth £23m before we got dumped. Now add in 2021 results and market cap is ridiculous. if they do the job right and 2021 shows strength and even a tiny £1.5m dividend (less than 5% of reserves) that is a 7.5% yield. Frankly they could pay more. We now need to wait for 2020 shareholders report as that will have commentary. I think things are looking good and shame we wasted £2m it appears on the bods shambolic issues.
My reading from a communication is a dividend is being seriously considered for 2021 and i am expecting it. To be fair im chuffed with results. PE of 4 is hard to imagine really and orderbook and talk of hydrogen is all very positive.
Does anyone think the 2021 results will be positive or even a dividend paid from them?
Key findings.
£5.3 million profit.
Contract backlog of RMB 722 million. This equates to £86 million.
£2.1million for legal fees and auditor costs for mess up.
Most positive outcome is paragraph about hydrogen. The company will solve the issue of hydrogen storage, production. This is gigantic. We are on for a bonanza. This has been the biggest issue with hydrogen.
From my reading the original payment to third parties issues have not been entirely resolved or sufficient explanation given. It remains to be seen whether HKEX will accept these results which would be vital if trading is to resume.
And the bit about results of independent audit stating unable to obtain evidence to convince themselves nothing dodgy had gone on with payment to Advisors...looks as if they were guilty of something.
22nd May I think they said
So when can we expect the 2021 results I wonder?
And no dividend to be paid.
Pretty late in the day for Hong Kong but they announced results: https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0422/2022042202272.pdf
I dont know the time of the board meeting but if somehow it lasted into afternoon then maybe it would not hit the Hkex in time. Hopefully they argued long and hard over the dividend, wishful thinking me thinks but monday should give us the first signed accounts, although the drafts were shown to us long ago so they should not be very different in all honesty as its pre all the independent review.
Have they missed a deadline? Maybe they are just slow at getting the rns out. might be out on monday.
Yet another complete let down from the company. Missing another deadline. They are some boyos. Dont like where this is heading. Must have been controversy at the board meeting and they couldn't approve results. Doubt auditors missed the deadline as this is their bread and butter. Sticking to deadlines is part of their service. Remember these results had the £2.2million 7 dodgey payments.
https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=1156&sc_lang=en , Try this
you may have to input 1156 for cnels stock code if that link doesnt take you straight to cnels news feed.
through the news feed on HKEX.
https://www1.hkexnews.hk/search/titlesearch.xhtml?lang=en
nothing yet so hopefully news next week regarding board meeting/divi/results date.
So where do they announce results of board meeting
Fingers crossed, firstly the results are published and secondly they point to further positive progress. we have no real evidence of how the pandemic, positively or negatively, has affected CNEL
I’m expecting to see the results tomorrow as per RNS.
The board meeting is tomorrow so i would think we will (should) know next week .....or if its CNEL time it will be next year!