Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. 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.
:D
EV c.81p. P/e c.40x
81 xd.
Looking good very tempted to have another top up!.
Update on trading and an only in passing reference to FOBs and kicking the decision down the road which suits bookies no end. The reluctance of the Govt to do anything other than offer platitudes and procrastinate has Sads & WH counting their ill gotten gains.
You will have to wait for the Spo Xmas present of 29p to holders until 18th, Dec. Should give you time to consider options. One that might cross holders minds is to use your cash windfall to buy more stock in the market. The drawback is what price will you have to pay come receiving the money? A 50k holding will most likely be worth c.£37K (50x75) plus your div of £14.5k (15% tax paid for most) which would imply adding c.19k extra shares @ c.75.....to keep your cash % equal to your Spo value pre distribution. Of course you might pay more or less come 18/12th. Shareholders equity will have fallen by payout value and par of the stock to 20 from 30. Bidders will have to factor Sportech value minus it's cash pile of min £55m and it's much nearer current than hopes of 120-140 a month ago. At best 80-90 looks tops imo probably reflecting the value of Spo US licenses and easing of the regs regarding gaming in states other than the 4 currently licensed to operate. So if your lucky you will have the 29 in cash or extra shares and a bid of say 90 so another 15 in the kitty making c.45p. Worth waiting for if all goes well. Other than that you could take out your costs and run the rest for free or sell 90%, run the balance (might apply to bigger holdings) or variants of...At least holders are in a strong position and in no need to make any rash decisions. An alternative to cash, an option of taking shares instead of cash would have been nice might still be clobbered for tax. Whatever these decisions are preferable to ones I have recently had to make.....
Quite right mann123...I should have made that clear.
It's been said many times that you can buy for div. a day before ex-div but this is not all true. In fact, this is the most dangerous statement on the internet. The truth is you can only qualify for the Div. on ex-div day if you buy T+2 or T+3 days as it takes the number of days for your share to fall on the register. If anyone checks the shares they buy you will note the days for the shares to register whether buys or sells. I emphasize this because you could lose a lot of money hoping that you qualify. The LAST day to qualify for SPO is Monday.
Xd date next important point to note. You can buy Spo the day before exd date and be entitled to collect the dividend. Also worth noting that as long as you buy before the ex div date you can sell anytime ON or AFTER said date and still receive the payout. Generally the sp will fall by the div amount declared as this cash is no longer in the Co coffers.... but it's not a given that SPO will fall by 29. It could be more or less or even on rare occasions go up.
Well this was the poison pill imo and bidders were or should have had the 'sp' on the cap distribution as it was well trailed! I should think some will drop out as losing the cash cushion makes Spo 55m quid less appealing. Any bidder will have factored in the possibility of buying Spo with a neutral cash balance, so this still makes the Co an attractive prospect though now very much in the longer term. Forsake the div now or collect later, there's not much in it imo. I'm a seller now but other short termers will buy for the div. I think the next few years are going to be a hard slog and there are better opportunities elsewhere particularly as one is unlikely to know who has bought Spo and for how much until the N.Year. Better safe than sorry!
Hi John, in your view, how will this massive dividend work? Surely share price will just drop 29p on ex divi date and not recover much, as business has shed £53.8m funds? Also surely makes take over less likely at decent price? Welcome your thoughts. Rich
29 pps distribution to holders. Nice!!
Bear in mind that Spo's EV is way lower than the current sp. At c.70p that's a big discount which includes some take over premium. How much is the question? Any rejection of offers as being inadequate etc... will see the sp come down to a much more realistic value, though I don't think it's very likely as a sale is more or less 'inked in'. The risk reward favours the 'remainers' atm.
A possibility Rich62 but since I consider the current price to be over valued any moves up don't make sense to me based on trading nos. Lomb obviously disagree but more out of self interest than future cash flows of the business I suspect, add in t/o premium, cash in bank and any further cash distributions to the pot and they see short term value. Lomb may be in the driving seat thinking 110+ will do the trick so keeping the sp in the 100-110 range makes sense as you say. I think it's a racing certainty the Co will be sold as the bod seem to have little interest in taking on the challenge of managing a business so wide spread which retains a small % of the top line...... as not worth the effort. A bigger outfit with clued up management should be able to build on the solid foundations particularly on the Venues side if the betting rules are relaxed. Await an all cash offer or a mix of cash & shares. The iis want an all cash offer so that's what they will get I guess.
Do you think they are just adding small amounts to keep price around 104p? I suspect if they didn't, AT sells would drive this down below100p. If offer comes with even say 10% premium on share price, this will make a massive difference if you hold 41.9m stake?
Willy Hill fun and games as it is set for court action attempting to block SGC acquiring NYX gaming in a $600m deal. When it's Pref shares are converted WH would have 32% of NYX stock available to vote at the Dec 20 meeting. Spo had 4% of NYX at one time....currently a c.1% holding. Meanwhile SPO awaits a SC hearing next month re NJ and sports betting ruling that if successful could pave the way for expansion in other states.
Lom Asset Mngmt keep adding in small lots. With a 41.9m stake already why bother to add.... another 8k @ 106 ain't gonna make much difference...I suppose they think any offer will be c.110+?
Devised by J.Green blatter his formula a fancy name that at its core had a simple gaol of buying good companies at bargain prices. His record at Gotham Capital was extraordinary achieving a comp annual return of 45% over 19 years. Stockopedia has created a replica of the magic formula applied to the UK. You may be surprised that on the list of 30 top rated stocks Sportech was ranked. However that was most likely with the Pools division.
Wonder what price Spo board are prepared to accept for the Co? At near £200m we must be at the upper end of any offers methinks particularly an all cash offer. We could be offered a cash/shares swop or a straight share swop. Not sure which way to jump atm.
Sads, Investors Chronicle pick of the gambling sector caught a £2.3m fine for breaching consumer protection regulations following a Gambling Commission review into the Co, they found significant flaws in how Sads dealt with two customers. Sads said it accepted it fell short of accepted standards. No worries sure to be good for the sp.....
Steady as she goes is about it. Nothing likely on the sale process till January'18.
For sure the Littlewoods knock back on the compound dented us but tbh I never really considered that a given more an unexpected bonus at best. Imo our mrkt cap is out of whack with the basic fundamentals of profit potential for this Co. Outside of that we have very valuable licences, world revenue streams, cash in the bank of c.35pps and a big plus....debt free. If this adds up to a take out price of 110+ my partners will be very happy bunnies. Don't expect any news of 'in camera' discussions.
Sads jumps 7 on renewed speculation that GVC is on course to make an offer. GVC want to trade in regulated markets having sold their Turkish business for €150m. Post sale about 25% of rev's come from unregulated markets. GVC has been the runaway star of the sector these last few years climbing to 930 from sub 400 when I was considering buying some. Another swerve that cost me! Not sure Sads is a good fit for GVC i can see a clash of cultures not to mention Coral and the huge betting estate millstone. If I was a holder of GVC I'd be selling out before dyspepsia set in.
Not sure what the total cost to the Treasury would have been had the SC upheld the lower courts ruling. The Littlewoods case was of the order of a £BN pounds I believe and most likely the single bigest claim. Goodness knows how many others were in the queue so the final total could have been over £5bn. I think I read £7bn somewhere. Will Littlewoods throw in the towel now? Appealing to the ECJ could take many years for an uncertain outcome. I doubt Spo will bother now best leave that decision to the new owner.
Elsewhere Playtech (used to hold 10% of Spo) issued a profit warning and the shares slumped 21%. From memory T. Sagi was personna non grata in the US due to some financial stuff and sold out of Spo who were applying for US licences at the time.....