Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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bright
Whether to buy more or offload.. or sit on hands :D Hopeful volumes will pick up ahead of the trading statement next month and the spread will close
attractive v downside risk..asymmetric imv
Not sparkling, but still shiny I would have thought, how bad can the next set of results be? In my view worth the risk at current market cap. Check out ITQ, bouncing off recent lows. Others will believe these companies have a bright future and the time to sell is when that message has been hammered home..
The Polish ops perhaps worth the full mcap atm lol..given profitability a few years back in strengthening zloty (v £) and weakening of zloty to euro which boasts competitive advantage ..perhaps ..BUT current metrics unlikely to be attractive given investment in staff etc in Poland and slow rev performance in UK
keep coming
will hardly be sparkling..and they have been saying things are going to get better for a while lol
cluster of trades c118 may be signalling bottom.. ..but it would take much ..nerves or rumour..or rns...to sink this down below 100 imv ..so i'll wait for now..and hope for sub 100 feast (careful wot i wish 4)
Given up trying to second guess this one, so will watch and wait. I feel it's cheap but the market isn't keen yet. Falling away towards that £1 level but surely it won't get there. Next set of results this will be back to 150 range.
tnw is sub £1..and run rate ebit is poor ..if current metrics dominate limited trading volume, i expect £1 to be tested ..sub £1 would offer crackin LT investment imv
delusion
You are in control
to 150-160 range??
The current dividend yield works out at about 4% per annum. They have new "additional blow moulding capability" which they can put to use generating new regional sales. The new management is driving for operational efficiencies in the plastics factories they are targeting scaled increases to the paper box business out of Chesterfield which only turned to profitability late last year. The reason why H116 balance sheet looks worse than it actually is is because of a planned £1.7m one off expenditure. Results from newly acquired Madrox were superb in 2015 and as a result of the improved results, the earn-out element in the acquisition of Madrox increased by an estimated £1.7m. This final element was due to be paid in April 2016. There are no more earn out payments to be made now and in the future. Resin prices have not been kind to RBN and that's partly why in 2015 they lost a large customer. But the value of their Polish earnings has risen when converted to sterling. They have overcome lost contracts last year replacing them with new according to the last FY statement which only came on stream at the end of 2015. So there is much to be positive about, especially at this knocked down price. One last thought. The USD is beginning to weaken this year which is reducing competitiveness of all those exporters of PP products to the US. We've seen for a while now how GBP weakness has impacted RBN however we could have seen the bottom of this trend already. To put it in perspective there was a "24 percent jump in export sales" to the US in the first 7 months of 2016. With domestic prices beginning to stabilise now as the USD weakens then one might expect RBN to benefit from the exchange movements. At any rate we have net assets higher than the current market value even if you remove 'goodwill' from the equation, profitable outlook, reducing loans, new acquisitions experiencing improved growth and a portion of the revenues come from the property portfolio the company owns.
In the January trading statement emphasis was placed on the stronger sterling value in relation to the Polish zloty having a big impact reducing "the reported value of Polish sales (currently 38% of Group sales)". The interim results did not really shine any light on this but we know the percentage of Group sales would have been around 40% due to a generally slow start to the year. Given the increased competitiveness now against the Euro and the zloty we should find new business is more forthcoming. The balance sheet doesn't read that bad compared to H115, adjusted PBT is lower but there are other more important indicators like the reduction in Trade Payables through cash. The only downside to me is an extended wait of 4 months as it's unlikely the company will released anything soon
potential..perhaps not rel to current/next financials??
Hope your right..seems cheep
imv..over v lt, rbn looks good play (unlike most AIMsters lol)
Bought some today
providing some support ..many years since much loer ..i was buying in 80-90p range 4-5 years ago; with market challenges we may see that again which wd be nice
but bought back 1200@127 ..wd prefer c100
Sizing up my entry whilst demand is low. Remember annual profitability shouldn't be impacted by the off cost like last time around. For £22m it looks good value to me.
and lacklustre outlook ..worse than i expected ..down to 1k free carry; tp £1.20
*Polish Zloty
Madrox is the fastest growing division and receives earnings in the Polish which has appreciated against Pound Sterling during the year. Demand at home will likely have fallen and the outlook downbeat. The dividend should continue though and possibly debt free in another 6 months