Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Did you notice the massive 450k buy order at 85p a few weeks back on Level2 ? , it was brought to my attention by Robbie Burns Naked Trader on his blog. He placed a buy order just above it as did I, his order filled and mine didn't love to know why as my buy order was above his ! Anyway it was there for a couple of weeks and appeared to never fill and disappeared. Robbie got his target of course before this recent fall but this piqued my interest and I bought today at 78.
Whether that buy order ever got filled I don't know but it would explain the recent rise if it did.
Not sure why it fell recently but it started falling after SPT fell from grace, no relation it seems but you never know in the market
My (uneducated) guess was that this was a reaction to the Axiom Ince intervention - which has no actual bearing on this firm…?
An II just wouldn't sell like that normally.
I also thought despite the positivity here, it just looked like the chart needed one final drop, to complete the VCP on the weekly.
IMO, this is a short. I think it was Wednesday that it dropped 20% - 93p down to 80p. I was watching it, and caught the bottom at 80p with a purchase. I held it for 15 minutes and sold it back at 85p around 4:20. That rise after such a drop is typical of a short, taking back the stock it has dumped. Now they have reloaded, they are at it again for another drop.
I still have my holding, but the 15 minute trade was quite funny. Goes to show that selling it was the right idea. I have another quality company in my pf, AFM where the same is happening. Its down 20% in 2 days. I have done the same there, but not sold yet, as no bounce, but crazy valuation for what it is. May well sell some rubbish today and increase here.
Crikey, I was 30% up on this and took my eye off the ball, now at break-even. Somebody dumping them!
The consensus of 5 brokers should be fairly reliable rather than just one house broker, and even factoring in some reduction to earnings to be pessimistic of 10% that they don't forsee it's exceptionally cheap on a FPE of 3.58. Personally, I think thats too cheap.
Hello,
Net debt 29M, not too bad. Looks like Blackrock or another institution dumping at any price. Unfortunately no buyers to absorb these sells so MM drop the ask
Two days of 10% down is really bad....even in this bear market
Anything with debt is getting slaughtered. Cautiously optimistic here
Having followed this one very closely the last few months and been able to sell large quantities of shares just 5 days ago not far below the price at the time, I think someone is in distress or distressed about the UK and by the action of the price i would say its a US investor and they have triggered the sh@t bots into action to trash it. What's interesting is when it suddenly drops after midday I cannot buy any with my broker. I'm constantly getting orders rejected which usually happens when there isn't anything left to buy. Very odd indeed.
Why the big hit today? Can’t see any statement/news
Sounds like an obvious ponzi scheme chrismac
Nice little break out this morning. All moving averages are heading up now. Looking good.
Ah just re read and 13% is for last year. With that in mind not really much of any update at all but sounds positive at least
Revenue growth of 13% versus consensus expectation of 10% is a good result. Hopefully they are keeping costs under control as well
I see no reasons why the sp will not return to >200p in the 6-12m time frame, if improving financial metrics, excessively low valuation and past price history mean anything. Let's first see if it can regain 125p and recover from the March 2022 calamity.
Just a bit of patience, way too many interested at 86p forced buyers up, seems to be stepping up now just like we said...
"The Board is pleased to report that the momentum that was starting to build at the end of FY23 has continued into the new financial year, as the Group continues to successfully execute its growth strategy."
I messed up with DWF. There was a piece in city AM where Jefferis broker was saying they would need a raise, so I sold out at quite a loss, just before the offer. Something wasn't right, in hindsight manipulation to collect shares I think.
Good to be in the sensible club!
Looks like a few us on are on the same path here, also in this one and noticed the Keystone results yesterday. Decent results and an encouraging reaction. They trade at a significant premium to Knights and the sector, always have but not really sure why. I reinvested DWF proceeds here, the sector as a whole is looking very beaten down, they are looking very cheap at sub 3x EBITDA and they will quickly improve leverage and dividend payout. That gap down from 370p 18 months ago was simply outrageous. I expect that to continue to be filled over the next 18 months
Ha ha, just answered on you another thread!
This is poised to break out, I really like this stock from the company, and the chart. (look at weekly chart for a couple of years). Yesterday Keystone law gapped up on open with its results, and plans for a special dividend. I ummed and arred about another law firm, when they were £4.00. £4.70 yesterday.
Hopefully Knights does the same thing, and breaks out of the long term down trend, back up to 2 or 3 pound.
Appears to be some significant orders in 85-86p area but not a lot above spare to buy in sizable quantities, usually, that's a good sign to me being outbid. Every week i look at this it keeps standing out as way too cheap. I suppose it depends on what octopus is doing but if they intend to hold their position this should step up soon.
Many thanks for posting Florence.
I emailed the company last week regarding the Supreme Court ruling. Just to make sure they have no exposure as there was one paragraph in the results that was slightly ambiguous (to my untrained eye anyway) as to whether they engaged in litigation funding. This was the email:
‘I just have a quick question regarding yesterday's supreme court ruling. I notice the following paragraph in your recent year end results....
Certain contingent fee arrangements are undertaken on a partially funded basis. In such arrangements, the funded portion of fees is not contingent on the successful outcome of the litigation and in these instances the revenue is recognised up to the amount of fees that the Group is entitled to bill for services performed to date based on contracted rates. The remaining consideration is variable and conditional on the successful resolution of the litigation. The variable consideration is recognised over the duration of the matter and included in revenue based on the expected amount recoverable only to the extent that it is highly probable that the amount recognised will not be subject to significant reversal when the uncertainty is resolved at that point in time.
Do you expect that these arrangements will be effected by yesterday's ruling?’
This Morning I received the following reply from the CFO which I found very helpful. So thought I’d share for the benefit of others:
‘Good morning
Further to your email below, the ruling by the Supreme Court will not have any impact on our business.
We do not have any funding agreements within the business that fall into the category covered by the ruling.
Many thanks
Kate’
(Sharecast News) - Analysts at ShoreCap upgraded their recommendation for legal and professional services business Knights Group from 'hold' to 'buy'.
In particular, they noted how the company's latest full-year results had revealed several tailwinds, including "strong" interest earnings from client monies, a softer recruitment market, inflation-beating rate rises and a better acquisition policy.
As a result, their outer year estimates were raised by 4%, which in turn also saw their 'fair value' rise from 105.0p to 115.0p.
"Knights is currently trading on an FY25F PER of 3.6x, an EV/EBITDA multiple of 2.4x and a dividend yield of 5.8%," they said in a research note sent to clients.
"Although there are risks relating to the acquisition policy, we are slowly warming to the strategy as long as it remains selective and manageable."
They also believed that a return to organic growth was "likely" in the 2024 financial year, adding that the shares' current discount was not warranted.
In their view, the shares should be trading on a price-to-earnings multiple of 5.2, instead of the current 3.6.