Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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I asked them about directors buys yesterday during the webinar.
Response as follows: He's been having "Internal discussions about this topic currently and not going to comment on individuals, we do see VALUE in where our share price is at the moment."
Confident presentation. Right team right time and right approach.
Looking forward to seeing and investing in their new products.
Although I do think the shares at the current prices are going to reward more than the 5% rates in the bank.
This could be up by 20% alone in the next fortnight.
The bottom is firmly in.
What a positive day. This is a buy and hold. Extremely impressive management team and they know what they want to do and how to go about it. SP will get to 100p in good time I believe.
Should see another Redwood TR1 next week I would imagine, if that drops, ths share will quickly gather further momentum.
Still carrying warning signs. This is being heavily shorted currently 👍
75p next year and 100p in 2026 👍
Thanks Baysilhope … looks like a very positive day
Https://www.proactiveinvestors.co.uk/companies/news/1044141/vanquis-banking-group-upgraded-but-risks-remain-says-investment-bank-1044141.html
Panmure Gordon has reversed its November downgrade of Vanquis Banking Group PLC (LSE:VANQ) on the back of the lender's prelims - although the stockbroker recognises that 'risks remain'.
It has moved 'buy' from 'hold' on shares in the credit cards and loans group, which it values at 75p - around a third more than the stock is worth today at 56p (up 8.5%).
"What is more important by far is the company’s objective of getting back to earning a mid-teens RoTE [return on tangible equity] by 2026," said Panmure in a note to clients.
"We believe that this equates to a business making around £100m of adjusted PBT [profit before tax] and close to 30p of adjusted earnings per share.
"Risks remain high – there are the invidious attentions of a CMC to negotiate – but a potential PER [price-to-earnings ratio] of under two times suggests also that there is more than enough opportunity to offset that risk."
Pooks, they have budgeted £40m for exceptional CMC costs in 2024 , no longer needed, especially for 1 - 65% seriel CMC claims Co, that's what I mean. Hence the £30m saving (budget not required), did not mean legal redress for £30m cash counter claim against crooks.
Great planning from start to finish. A lot of work done to plan and organise this. Nice finish by Ian. Although Q&A was quite short, none of my new questions answered due to short of time. Buy and hold for me. GLA, DYOR. IMO
Can’t see that happening… 3rd party will cease to exist.
You can see 2024 getting back to neat the original analysts (Not Co) forecast +£60m, Fwd PE 3. Corp Tax relief for Capex IT.
Any questions to submit, happy to help.
I have 2 in
a) Legal basis on the letter to the rogue claim company
b ) Vulnerable to a takeover ?
1
Light at the end of the tunnel - FSA progressing to pass FSA costs of unmeritous claims back to the Claim companies. Moving with pace
2 Making an unmeritous claim can effect the claimants credit rating, the CMCs do not care but the claimant will.
Fight back.
Compoundinterest, Here is the link:
https://www.proactiveinvestors.co.uk/companies/news/1044141/vanquis-banking-group-upgraded-but-risks-remain-says-investment-bank-1044141.html
If I were a PE firm looking to set up a cheap bank - what a gift, this will not be overlooked for too long, now the Contingent Liabilities have vanquised, despite spurious Social Media sites. Limited downside IMO DYOR.
@Flava thanks for sharing the Panmure Gordon comments. Do you have a link?
I particularly like the following statement, 100m a year of PBT from 2026. That's like returning the current market cap every year. A lot of dividends.
"We believe that this equates to a business making around £100m of adjusted PBT [profit before tax] and close to 30p of adjusted earnings per share.
I agree, looking very positive. With current customer base and NIM we should smash it this year. New customers a bonus
Disco, the party is only starting. Compared to the previous management team this one seems to have got the fundementals covered and taken action already to turn on the growth story after the last 3 lean years.
Tea break - panels and questions after.
That's me out for good. Good luck.
Hx
The ROTE is being covered now.
Comments made about FOS Fee consultation. For those unaware this might be useful
Basically a proposal to charge CMC's the fee, given the account for 20% of cases brought but over 50% of cases not upheld.
https://www.financial-ombudsman.org.uk/news/financial-ombudsman-service-reports-performance-improvements-consults-plans-reduce-costs-businesses
Cost is going up this year. who's going to wait until 2026?
Panmure Gordon has reversed its November downgrade of Vanquis Banking Group PLC (LSE:VANQ) on the back of the lender's prelims.
It has moved 'buy' from 'hold' on shares in the credit cards and loans group, which it values at 75p - around a third more than the stock is worth today at 56p (up 8.5%).
"What is more important by far is the company’s objective of getting back to earning a mid-teens RoTE [return on tangible equity] by 2026," said Panmure in a note to clients.
"We believe that this equates to a business making around £100m of adjusted PBT [profit before tax] and close to 30p of adjusted earnings per share.
The "lovely" Dave Watts, bromance lol his face went redder than Nina's 99 balloons.