Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The headline is still up and still says £167m
Buying pressure should finally move it up to over 60p today or tomorrow if it continues.
Have they won some money? the last set of results it was around £135m making 47p an excellent buy below net cash and an easy 27% profit. The headline has been dropped right at resistance so think about it.
It's holding so far. As soon as all profit takers gone we should break that 60p for good and as you're saying move smoothly to 70p.
After the Questor tip should reel a few punters in.
Question is will we see 60p held today, and move up to 70/80p for next test?
'This company has £167m in cash yet its market value is just £157m'
Questor share tip: If it can get its margins even to 5pc it could look cheap indeed
https://www.telegraph.co.uk/money/investing/stocks-shares/costain-infrastructure-specialist-berkshire-cash/
And we've done it! Can it stand? We shall see, though I expect traders will take profits.
(In since 2012 at 264p but added at up to 420p about 30% down now)
Nearing again the legendary isle…
Shhh, don't say it
Don't want to jink it. Looks like again we are heading to test 60p resistance. Hopefully, this time will break out to 70 / 80s as first level back on rerating.
2.7m in 5 trades Fri am reported after hours.....
Something may be afoot? About time.
Fair comment Bangrak, the slim margins compared to to size of project costs is my only concern, I was here back in the day, hope it goes well and a company with cash pile and turning a profit is a rarity these days.
It seems to me that the issues it faced have been addressed with the various changes in the BOD from 2020 onwards, if you remove covid which caused most businesses lots of issues then they appear to have turned a corner in the last few years. I understand your opinion about history & margins but it does appear that those have been addressed looking at the performance. Most of the revenue for 2023 is secured already & I just find the recent updates here & from other companies in this sector quite impressive considering the circumstances, several materially ahead updates. If it had £150m net debt i might not be here but its cap in net cash is interesting.
I wouldn't forget history here, Cost have small margins if anything untoward occurs in ongoing projects which result in penalty clauses being triggered it can impact the balance sheet dramatically that might be why they are happy to maintain a healthy cash buffer or even worse a client contests a project not being what they expected and heads to the courts.
Shame no one made Ron Jeremy does Costain huh?
Agree with the conclusion. Not sure who's obsessed though-theres pretty much only you and me here!
Is anyone else finding this obsession about keeping the price down fascinating, i would be interested & buying here even if it didn't have 48p in net cash in the bank. This could be doing anything as far as I'm concerned or even have Big Bird and Ron Jeremey on the Board, the value here is something very compelling and if i was the major shareholder here i would take it out asap before a competitor has it or i buy it myself.
Fair enough. I read it as a one liner bash.
I always thought that you didn't believe in this consultancy holy grail stuff, so I thought you'd be pleased to have a construction fella there, even if only interim..
I think we will get the quid. At some point it will move quickly.
GL anyway
Morning Rogue...
Was just passing on the info to those who might not be avid readers of CE. Not sure that constitutes bashing.
However, Sue was the driving force behind the consultancy business so I wonder if the focus of the business is going to change - David has had a number of roles on the exec board, inc. commercial while I was there - think he was brought in by Wylie at the start of his tenure - but he has always been prominent in the construction side. As usual, time will tell - and I think it's going to need a lot of time before we see a return to the heady heights of £1+ per share.
Ah c'mon Slave, I mean based on what you've previously posted I didn't think she was your cup of Chai anyway?
I'm beginning to think you're just a basher....
Https://www.constructionenquirer.com/2023/10/03/costain-transportation-md-exits-2/
The spread on this is really stopping this from breaking through 60p
Slow exodus from now on.
I assume that the annual total will cost 3.3m to avoid giving more to the pension scheme...
SLowly slowly....but a decent divi does much to shove the price along. Hopefully next year he will have to release some more one way or another
0.8 p- you would expect as a minimum, we are only talking c. GBP3.3m - depending on the uptake of scrip this is a small outlay considering the cash position. Could be covered by interest alone.
In any case, better to be cautious at this stage. Not really in this for the dividends....
The interim divi is here..0.4p announced. Assume 0.8p final? not huge but a positive sign.