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I've been following this bulletin board for some time and have enjoyed the contrasts of the highly bullish versus the better informed.
Gerry65 - I find your posts very insightful and like how you don't judge the opposing view - but tease out the logic
TF -agree don't expect the latest cash raise to last too long. This summer won't see many flights out of Southend. Just to remind folks on here that in the August of 2019, when things were looking positive, we were averaging 50 - 75 flights in and out a day.
Am guessing the BOD would want to stay in place, and see it through to the sale of the Energy Division.
If they can keep costs down for another 10 months, it might be ready for sale. But what would happen then, clear the borrowing built up / put monies aside for the Airline liabilities / clear out the bond / put the remainder into the Airport.
At that stage - ESKN will only have 70% left.
Still wonder as I guess you do too, what TOSCA's strategy will be - surely they won't let the assets drift away ?
Hey got to love this Company, its been quite a ride over the last 2/3 years.
Gla
G
Hi Jarule - 900m shares@ 50p + a Mcap of £450M
Yes two assets on the plus side but on the minus side - Stobart Air liabilities and the £50m bond.
I suspect Cashflow will continue to bleed over coming months . When will the Biomass division be in a position to support the Airport
Interims out Nov will tell us nothing, they will report up till 31st Aug. Full yr end accounts are 10 months away, that's a lot of time for PI's to get nervous.
Hell I'm positive on both projects, but covid has crushed ESKN just when it was set to move forward, its been a challenging time.
As Birddog mentions - I've no doubt Southend will do very well over the medium to long term, but it still requires further infrastructure spend.
I suspect the Energy Division will ultimately be sold off to raise cash to further develop the Airport.
The problem for ESKN going forward is that whilst the Airport s a fantastic project, it is costly, and ESKN is working from a very small capital base.
It needs someone with deep pockets, to complete the project.
Once the dust has settled from the latest issue of confetti - I'll be looking for more in and out day trades.
Never a dull day here.
Gla
G
all - will there be a holding period so that the new institutional buyers cannot sell?
Sounds like another disillusioned investor who brought pre-covid. Calm down dear.
EasyJet will 100% NOT be returning to Southend. The reason they left Southend had a lot more to do with the relationship between the 2 companies than the pandemic. They will continue to offer Ryan Air heavily discounted rates in order to get passenger numbers up and the illusion of doing well. The reality is in their previous results. In the past 5 years, Southend Airport has lost well over £50m even in the best years it's never made a profit. Why people think this is some sort of jewel in the crown is beyond me. As Gerry has said many times, Southend Airport will likely survive to fight another day...who's running it is the big question.
Hi Gerry - we have roughly 900 millions shares in circa, I believe the true 2/3 valuation of southend current market is 240mill + 100 mill for biomass business + cash position. I actually think we could hit 50p now this year with the pent up demand for flights meaning we will soon see the return of easyjet.
Still watching..........a lot has gone on since I last looked in on Stob, it's even got a new name........lol
Hi Jarule - what will 40p x the new total no of shares make the Mcap ?
How do you calculate the value in that potential figure.
Not a loaded question- I'm just trying to judge sentiment when looking to do a few day trades when this fInds its new trading range.
Cheers
G
Cheers
average down guys , this is going back to 40p
Interesting placing price in the after hours rns - not unexpected
Never a dull day here.
Gla
G
I liked the report on the cargo / freight expansion, also the fact they are getting Covid ready with testing facilities in place. I can see the major three airports not being able to cope with numbers, and S/end will be a very good place to help out take some numbers away from the big boys.
I also remember previously we were being out forward as a free-port proposal for Carlisle. An ideal location between Scotland/England/Wales and Ireland. Lots to look forward to in my opinion and we are also a likely take over target from one of the big international airport chains too, where we have infrastructure in place particularly servicing London from S/end on the main Liverpool st. line for both pax. and freight!