Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Don’t say I didn’t warn you
" It’s too risky."
most of the worse risks have now been dealt with and they have more than £1bn of Group revenue already secured for 2022 and a good £3.4bn order book at end of FY21 plus preferred bidder book of £0.9bn.... so... not all bad ...
I have been buying from the lows and will sit and wait now and let the year tick along
not sure what's driving this rise but long may it last
Costain have a history of disappointing agm reads in recent years. Perhaps another 100m cash call? It’s too risky.
Yeah my my mates would say I have "some"Civ Eng!! LOL.
Yeah still in, been working for the grey gold specialists for over 30 now.
You will be fine at 77,you'll hang on for some return when you get there albeit maybe at a reduced level I still think that a properly run profit making, divi paying COST is worth 150.
But AV is cutting a lone figure apparently and the FD a career Director, no presence, so may need a change when the Insti's have had enough.
Sure, Roguemale1.
Ah, you have some Civil Engineering background, I sense.
My father was RE and FICE often in Africa on water treatment works.
I have some professional knowledge of Costain having worked for them in a contractual capacity for 30 odd years. I only got involved with Costain's shares during their share placement. At around 33p I swooped and over three days or so I made around 175k profit.
Couldn't believe it. Then I got greedy and have been snared ever since. I am going to have to it this out, water mark being 77p. My future lies in Costain coming back to their senses.
Morning Spy.
Yeah I've bought a few during the pain. I guess I just feel that its being incentivised the wrong way. Shares to 200% of salary target? Well that means when the price is down low you need a lot more free shares to get close to that number. One day the price will go and those 2 will be very rich for doing nothing for the body of shareholders. Hopefully the Institutions think the same. 2 replies so far.One from HL who initially patronisingly explained to me what nominee accounts were. After I pointed out that, no, this was listed as a HL fund he said "Ah! Oh that's run by Hambros anyway-we're not involved in it-speak to them...." Informative...And Hambros did acknowledge receipt and stated that they had passed my comments to their managers on the COST holding..Nothing earth shattering.
Early 80s? Sounds like you had fun. For me that was Uni and then building a water treatment works near Ipswich..
Seems a long time ago. Let us know if you do go!
Thanks Roguemale1. I think it will be worth going to has hopefully one might get a better insight of their direction of travel. I still think COST is a pent up spring waiting to be unleashed. For any brave man wishing to come on board, the last few months would have been a fantastic entry level.
I used to be a bit of a Lloyds Bank fan, but I think we are entering a bleak period for UK PLC. It could just be that Costain could just buck the trend given that it has been on rock , rock bottom for quite a while.
Btw, I used to be a Jobber sprog on the SE floor in the early Eighties. Then, I was dicing with the likes of Turner and Newall and Laker Airways. One day a pile of Freddie's girls hit the floor on a share promotion. Another time I got lock jaw when the Queen Mother came over and started a wee conversation. I never liked that place although it was before the Big Bang.
Top 20 institutions hold 31.2%. Over the last 2 years that has risen by about 2%. Only one large reduction and that set off against 2 large increases. They cant be that happy either.
Emailed the top 10. Not expecting a reply!
Costain : Bp awards Costain onshore carbon capture project in Teesside
Spy, I am away else I would go.
"The Company announces that its Annual General Meeting will be held on Thursday 5 May 2022 at 3.00pm at No. 11 Cavendish Square, London, W1G 0AN (the "2022 Annual General Meeting")." I think reading the RNS you can just go, and can ask questions via a email process also on the RNS.
I need to find an hour to email the top few institutions. They wont reply I think but I want to ask them their view on the Directors remuneration not being related in any way to the share price...
Keep the faith. We'll get out of Jail. But it gives everything to the view that FTSE Directors being over paid.
And following my post shes got 250k plus shares coming for nowt. nice.
Thanks Roguemale 1
Have been thinking about it as I live near Canary Wharf. What day is it and time? Do I need to register? How do I do it?
I know it seems daft but I have never been to one.
We really need to see a rerating upwards soon otherwise I may have to head towards Beachey Head, lol
p84 ish in the Annual report. Anyone had a nose?
According to this the Directors have achieved 73% of their targets for 2021....
In 2021 us shareholders achieved -33% on our investment. No alignment in interest there.
They are supposed to have 200% of salary in shares as a target -to align themselves with the needs of the shareholders. That's good isn't it? Helen Willis in post, what, 18 months? Current shareholding 0. Zilch. Nada. She's good you have to say. She's figured out there's no need to spend any of her £360k/annum on shares..the LTIP plan will serve them up for free if she sits on her hands.
AGM coming up.
Anyone planning on going? Spy, you'll get a fee Latte with your numbers! You'd have to think the institutionals who made up 90% of those voting in favour of the remuneration policy last year might now be reconsidering?
I wonder who they are?
Donkeys indeed! LOL.
Share price in doldrums...I know, let's appoint another Non Executive Director; investors will love that...
Hopefully they remember that the objective is to make money
Just up the road from me here in Preston. It mentions the PWDR in the article which is looking incredible. There doesn’t seem to be much justification in the current share price. Seeing what fantastic work is going on around here I’m very happy to hold until the market wakes up to what I believe is a great company, that’s just had a bit of a tough time of late.
Down %14 what they ****ed up again ??? Another national grid project or what ?
Metom.
OK. You have some shares. Fair enough.
You look like you have caught a few falling knives there a little too early. So have I , so has SPY I think. But I have made money on COST twice before (nearly 3 actually if I had bought when Stuart Doughty rode into town many years ago...) ....
and I will do so again by sitting tight. Your particular problem appears to be here that you heard about turnover but not the historical issues which had already occurred by then, and thought the price would just skip back up, like that day with CINE in March 2020? Construction isn't like that. Its not like a binary play pharma in a pandemic.You were never gonna 10 bag in a construction company.
So you need 81p to get out even? I think you'll get it.
As for your issues with Rolls' SMR -Costain aren't in the consortium as far as I can see? The Civils are covered by LOR and Bam. So no need to keep bringing that up. I've got a couple worse than -33% Metom believe me, but they will come around just bad timing.
Good luck.
Metom
Well, thanks for your frank story, but I am in bigger #hit
Yeah I’m just commenting on this board for fun lol .
If I didn’t have investment why the hell would I still be commenting on here ??
Let me tell you how I bought costain shares . I done a job for one of engineer who works in costain. before I even meet her,I already made some home work by believing that costain will do hs2 work and of course they would get bit of work trough the government . So when I meet her I asked her how is the business and she said yes it is very busy and we are doing well. I then invited 2 lots one for long term which was 36k worth. Other just short term and it worth £7.5k worth stock from 64p . Since I invested 15th June 2020 , costain has only managed to drop heavier then rocks but noting postive . I sold the 36k worth shares with lose about 2k and I’m glad I did because i would never be out and this would give me even more stress .
My £7.5k is still in which I’m not going to take another lose I would get my other 2k loss back from £7.5k Not leaving a penny to costain .
I hold just under 50.000 shares in rolls Royce - and it is same **** as costain .
I hold 35.000 in Valrix . And I have made great profit in Valrix best share I ever invested .invested £1.100 and I got just under 14k profit back
I hold 29.000 shares in cine from 50p and again down in **** at the moment and I have made good profit from cine as well before .
I hold ukog shares which don’t really bother too much it is only £1k
In mean time I also use money for day to day profit if I can but all this shares above ,I never played day to day profit yet.
If costain gets involved with rolls Royce nuclear power stations , they will mess the whole project . I do not believe they have got experience anymore . There is bunch of people who got no clues anymore. And I strongly disagree with any work given to costian from rolls Royce .
For me costain is still a dead donkey .
Yes you are probably right the legacy issues perhaps have tainted the share price for good. I do think the people running the ship and major shareholders will be aware. Personally I think if a share trades below financial assets never mind physical assets then something usually gives at some point. I don’t think there is enough stock to enable many new institutional shareholders. Still think maybe one of the cheapest shares on the market. Good luck
Jargonpain.
I have that funny feeling that as Costain being rather unsexy, will catch the market out sooner or later who regret how this stock was completely off their radar.
Costain is slowly reinventing themselves and they do have a great project legacy.
Roguemale1. Quite right. Nuclear power plants would be build to exacting specifications. There is nothing like a blank canvas here. It is 'Mechano' construction and so no contractor can go off message, and certainly there are no imponderables such as the Welsh Road that had major unforeseen geological issues.
Don't worry Spy, on the RR board old Metom thinks Taylor Wimpey would also be in the running to build one...
A Semi Detached Baby Nuke maybe...:)
Not a Scooby.
Metom just a thought-does it ever enter your mind to stop bashing all of your investments? Then maybe every little helps to get them to go up and you can exit...if you actually hold any of course.