Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. 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.
ThinkSmart Limited (AIM: TSL), a specialist digital payments platform business, is pleased to note the fourth quarter earnings report issued by Block, Inc (NYSE: SQ) ("Block") which outlines significant ongoing growth and progress is being delivered.
ThinkSmart holds a position of 618,750 shares in Block, which based on a closing price of US$94.99 on 24 February 2022 is valued at US$58.8m. This shareholding follows the implementation of the Scheme of Arrangement for Block to acquire Afterpay Ltd, which ThinkSmart held a former interest in, on 1 February 2022.
The focus of ThinkSmart's strategy - which it will reiterate and expand upon when it publishes its Half Year Results for the six months ended 31 December 2021 on 9 March 2022 - is to deliver value to its shareholders via its holding in Block, and from the Group's operating business of the managed wind-down of the leasing business and the provision of the outsourced call centre customer service and support service to Clearpay. Therefore, ThinkSmart places emphasis on the public market disclosures, financial results, share price, and general overall operational performance of Block.
Block Fourth Quarter Highlights:
· Generated gross profit of $1.18 billion, up 47% year over year. Cash App generated gross profit of $518 million, up 37% year over year. Our Square ecosystem generated gross profit of $657 million, up 54% year over year.
· Cash Card has reached significant scale: there were more than 13 million Cash Card monthly actives in December, which represented more than 30% of Block's 44 million monthly transacting active base.
· Sellers have adopted more of Square's ecosystem over time, which has helped them grow: in 2021, 38% of Square's gross profit came from sellers using four or more products, compared to 10% in 2016.
Block Full Year 2021 Highlights:
· For the full year of 2021, gross profit was $4.42 billion, up 62% year over year, or 53% on a two-year CAGR basis.
· Cash App generated $2.07 billion in gross profit, up 69% year over year and 113% on a two-year CAGR basis.
· The Square ecosystem generated $2.32 billion in gross profit, up 54% year over year and 29% on a two-year CAGR basis.
Ned Montarello, Executive Chairman of ThinkSmart, said:
"Block is exerting itself as a global leader in payments that is performing extremely well in a challenging macro-economic environment. This set of above expectations results gives us significant confidence in the future growth prospects of Block and, subsequently, in our ability to generate and deliver value to our shareholders as a direct result of our shareholding with it."