Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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closed up at $ 72.03 ($1.53) after earnings reported were pretty much as expected
£2.85 millions worth at 570 p...at 11.50 a.m
if you take the intra day highs of late February and early June 2014 then project forward then you will arrive at a price of 610 p around the end of September 2015 however think that this bid may well have to go closer to 640 p to be accepted.There are almost 705 milllion shares in issue for the purpose of calculating market capitalisation.
its a mix of cash and shares offered ! Will Crown counterbid?
556p - 557p.......looks like Market thinks it may not happen, otherwise we would be £6 now.
The Board of Rexam notes the recent media speculation and confirms that it is in discussions with Ball Corporation ("Ball"), which may or may not lead to a formal offer being made for Rexam. The proposal values Rexam at 610 pence per each Rexam share based on a consideration of approximately two thirds in cash and one third in new Ball shares. Discussions on other matters are continuing and there can be no certainty any formal offer will be forthcoming, or as to the terms of any offer Glad I held.....might sell now though as £6 a share is tempting!
Let's see if sp ticks 600p soon.
Looks like they are thinking of passing some of the cash back to shareholders. I was thinking of selling a few today, but will probably hold fire.
http://www.plasticsnews.com/article/20140203/NEWS/140209998/rexam-to-sell-healthcare-group-to-private-equity-firm Sold health care group to Montagu Private Equity for about US$805 mill . Should help the balance sheet!
Found this http://www.rexam.com/index.asp?pageid=468&newsid=2331
private equity
After many weeks of being well under £5, todays surge back up is welcome news. American PE ? what is that, will have to investigate.
Rumours of American PE interest mentioned on directors' talk site.
any idea what's behind today's rise?
This looks likely to move into the 400 p to 410 p range At which point worth buying as will be 25% or so off last years high Results,I think,are due 19 February
There was recently a sell of over 1 million shares in one trade at just under 427 p followed by a "Neutral" note. from Credit Suisse...since then the shareprice has been in the mid 430 p range .If you compare Beverage Sector charts and,for example,DGE,then REX seems to have diverged inversely since mid 2014 .Whilst it has undoubtedly suffered from forex " hits" in Russia,the effects of drought in Brazil etc. this sp looks "oversold" at current levels as they continue to invest in new plants and have increasing georaphical spread.Their ROCE and the likely dividend make this a buy if it falls below 425 p
giving a market cap of £3 billion looks likely if FTSE 250 slides further
There are a few bargains around, today especially. £4.46 is a good price, but I am looking at other bargains as well. Santa rally has turned into an early Xmas sale !
Market fallen around 4% and REXam up 4% from the low of around 436 p post IMS
Lazards increased their stake to 7.23% on Thursday 4 December probably at around 460 p
Some negatives in Brazil with rising costs and tax( exempt Olympics 2016) on drinks reinstated but they are investing in new plants eg Switzerland on line 2015,upgrading plants in Spain( from steel to aluminium) and expanding through Joint Ventures in Middle East and India and their ROCE is approaching 15%. Target to buy circa 440 p versus current sp 457.4 p
Forget the top up idea, back to £4.50 now and cruising
Evidently they have energy cost rises in Brazil....don't get this as global energy costs are falling. Best I can say is hold tight and wait for good news to filter through...1.6% down this morning hurting, as I thought this was a £5 plus share, not £4.36 as current sp. I will consider a further top up at £4.30 should it go there.
Management are so stupid. Why don't they just go and buy up all the used beverage cans from scrap dealers and national collection agencies? Sell them to Novelis, Alcoa, Constellium, Tri Arrows etc and not pay the $500/tonne premium on that volume as that tonnage is then used in their coils of 3104 alloy. Then charge all customer Coke, Heineken etc $500/tonne on their purchases of cans. No wonder they are way behind Can Pack in terms of customer growth!
Answered well here - I was more or less correct (and it's a generally pretty positive write up): http://www.fool.co.uk/investing/company-comment/2014/11/13/rexam-plc-dives-on-higher-costs/ Agree, good top up opportunity (but it's in my ISA so I can't!).