Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Anyone know date for next trading update??
Yeah hard to tell what's going on, but certainly kabouter won't have access to anything ahead of time (unless they have paid some Dutch investigators for information..)
As far as I am aware news on ATM was due anytime before the end of March?
Very difficult to say what is going on, but this is a decent business that has been mismanaged for a number of years. Far too little sector experience in the Executive Team, compare their CVs to say Biffa and Augean both of whom have individuals with an extensive background in the industry. May be OK when things are going well but when problems arise no specific historic knowledge to draw on. Remember in 2010/11 the Board turned down £1.20 a share from Carlyle Group because it did not fully reflect the value of the business.
Major shareholder has been reducing their holding 11++% over the last few weeks to below 10% which we would explain the overhang and downward pressure on SP. Problem is if this a programmed 'dump' by this shareholder then it indicates either bad news is coming or a divi cut. At present the divi is covered but if the problem in the Netherlands is causing a 'cash drain' then they will reduce the payout. By now we should have heard some positives on the 'soil' contamination issue but nothing as yet. As they say no news normally suggests bad news. New bottom I'm setting at 20p but hope its not broke.
Good evening Sbb and Joe. Finally a movement. I was starting to forget a blue day.
looking a bit better now
21.90p
21.90 hit.
22.70p just downward pressure cos of seller I'm stuck in PHD at 41p cos of 2 big sellers.. Watching for bottom here.
I left a couple of grand in here around 25p but watching to put a lot more back in as and when, I wish the shorters would shut up shop and clear off
Ive added some more at 23p for a long term holding.
23.10p I jumped out quite a while back at 27 5p Following closely for when the seller stops.
Looks like new bottoms now
Is it worth getting back in yet
https://shorttracker.co.uk/company/GB0007995243/
Is anyone still here or have you all abandoned the ship ?
23.85
24.4p let the seller ....
Retest of 52 week low / double bottom.... worth a dabble, 15k at 23.9p
Well still in a downward trend but it can't go too much lower and happy to add from here down. Pretty much at bargain basement now.
@24.70p The problem here is there are sellers in the market. Let them sell might be getting these lower than the 52 week low.
Bought in a small amount this morning.
Current sp is 50% down on NAV or a 100% increase from this level.
BOD have been buying.
P/E of just 4.
A rather large paying Divi. of 11.6%
Share price targets of 95p and a 400% discount to sector.
though, currently loss making, has a forcaste for y/19 of 45M and 55M in y/e20.
Cash of 120m.(euros)
Big negative is the debt of 496m (euros) but this still works out at 2.8 EBITDA.
Overall. with the 100% increase to reach NAV and a divi of 11% this looks extremely attractive at this price and I will add some more on any further drops.
It is not really that large when compared to the likes of SIta and Veolia and now has relatively little business in the U.K. The ATM plant is very large and has been operational for many years, generally without issues. I have been round it and it is impressive but if something has gone wrong from an environmental issue it could be costly to remedy and with an impact on current performance when out of production, I personally, feel that the business has been mis -managed for over 8 years. It turned down a bid from Carlyle Group in 2010/11 of 120p per share because it did not fully reflect the value in the business and has been in pretty steady decline since.
Thanks, hopefully the shorters have had their day on this one.
Some weird trades gone through after hours at ridiculous trade prices. lol
Lawson, I don't think the shorting is helping either - https://shorttracker.co.uk/company/GB0007995243/
I have tried to research this large multi national with a view to investing but it appears that it is blaming it's massive downturn over time on the ATM soil production problems. I would have thought that would not have such a large effect on a company that has a lot of other strings to it's bow?? I can't find any information about what they are doing to rectify the whole soil thing either.