Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Well let's see what influence the US market has this pm. I'm sure it won't be positive.
It not looking goode agane sadly.
Red ink agane.
I feels all you guys and wimmin that has lost money on hear.
The market determines they should be an equivalent in price, otherwise traders can arbitrage off the difference
You know why its down US pre market? Because we are down here, the US market is reflecting what has happened post their close to the current US position.
Basically between our close yesterday the US market took the share price up slightly (although it was down at the end, its the difference between US close and the US price at our close, so roughly about 0.4%, Then we are down on our yesterday close by 0.4%, hence the 0.8% now showing in the US
It's certainly one way traffic here. I see it's already down 0.8 % in US pre market so expect a further fall this pm. It really is grim. I'll never go dividend hunting again!
Poker I've been trying to get my head around Vodafone's finances and what they might have planned, of course anything I think may happen is pure speculation.
Here are charts detailing Bond Maturity according to Vodafone's list:
By Month
https://docs.google.com/spreadsheets/d/e/2PACX-1vRA1ndHTf_Bz7O_moDxmcbWnEtcusZucUu6lEJvm3O4mGooeH4ErFjRqot3RQHBaVXCgoUED1k2CUVK/pubchart?oid=17624073&format=interactive
By Year
https://docs.google.com/spreadsheets/d/e/2PACX-1vRA1ndHTf_Bz7O_moDxmcbWnEtcusZucUu6lEJvm3O4mGooeH4ErFjRqot3RQHBaVXCgoUED1k2CUVK/pubchart?oid=1681133451&format=interactive
According to my spreadsheet and going off the Bond list, Vodafone have €48,660,405,131 of debt, but in their H1 results they said they have outstanding Bond debt of €43.316 Billion giving a difference of around €5.3 Billion; €5.3 Billion would be in the ball park of the combined total Bond Debt for Oct 2023 and Jan 2024, so I'm speculating that those bonds were accounted for in the H1 figures.
Vodafone also said in the H1 results that they have €7.141 Cash and Equivalents, which wont include the €4.1 Billion cash they'll get from Spain. If the Oct 23 and Jan 24 Debt has gone, then they have a further €6.5 Billion to pay off during the rest of 2024 and 2025. They'll detail their plans for Italy in May and it's anyone's guess what may happen there, they may have even lined up a buyer.
If they maintain the dividend any Buybacks will reduce the overall dividend bill, so they're probably working out how much cash they can use for buybacks and dividends, balanced against any future Capex plans.
I'll happily be corrected if I've misunderstood any of the above figures.
Yes not very happy with the touted Buybacks. I get the debt pile has different term outs, but surely better going towards paying some of that off, rather than essentially being a smaller business from the Asset side but the liabilities not changing.
To be so devoid of ideas that they’ll use asset sale cash for buybacks tells long term investors everything they need to know.
If you want, Play the trade for short term gamed eps figures that help directors hit pay targets, but long term it will suffer with this strategy.
Fleccy
the loss of the cash flow from Spain is a known-known , but they are still open minded as to where the Spain cash will end up... ..I do think the market has already positioned itself for future dividend cut and may well react positively if they do it , if the cash flows don't support the current one
I thought the transcript was very useful in terms of more detail about Germany and Microsoft
On reading through the Transcript, this just caught my eye:
"On the dividend front, it is important to me to make sure that an ongoing dividend is covered by the underlying free cash flow of the firm. Spain is going to change that a bit. But we will use all of the visibility that we have by then -- to then come up with the right call. Nothing is decided. And yes, also share buybacks could then be part of the mix, in particular, if we have sizable one-off cash inflows like the one that we are expecting from Spain at the closing of that transaction."
Ha, thanks Mole Man.
You holdings must suffer badly Jax. Feel sorry for you.
Should see those 5s soon.
There is little for shareholders to hold onto in the latest update from Vodafone (VOD) and plenty of risks facing the telecoms giant, says AJ Bell.
Analyst Russ Mould said the Citywire Elite Companies AAA-rated stock has been a ‘business with all the alacrity of a beached whale’ and there was nothing in its third-quarter statement ‘to get investors particularly excited’.
The group is ‘trying to shed some dead weight’ and is still in discussions over its underperforming Italian division despite turning down a merger offer from French telecoms company Iliad last month.
‘News of better-than-expected sales is something for shareholders to hang on to, with the company seeing improving momentum in its cloud and enterprise arms,’ said Mould.
‘However, management is not getting carried away as full-year forecasts remain unchanged.’
Mould said ambitions to scale up Vodafone’s mobile operation in the UK could be stymied by competition authorities as its deal with Three comes under the spotlight.
‘The UK’s Competition and Markets Authority has proven itself to be robust and there is a risk the probe could either sink the deal entirely or introduce mitigations which will undermine its attractions,’ he said.
‘History does not provide an encouraging guide for Vodafone given the precedent of a tie-up between O2 and Three being turned down in 2016.’
The shares fell 3% to 66.58p on Monday, with the shares down 27% over the last 12 months.
In this report, we take a look at the main themes and trends that will drive the telecoms industry in Europe this year.
https://think.ing.com/uploads/reports/Telecoms_Outlook_2024_GMA_RLBfv_1.pdf
RR's finances are a lot worse than Vodafone's, they added 6,436,651,043 more shares in 2020, took on extra debt, and dropped the dividend as a Bond condition. Funny that RR is now around the pre covid price with four times more shares on the market. I expect the big players loaded up with RR shares around 2020/21 and are now pumping the price to realise big profits; If that's what is happening then RR's price will likely stay high for as long as it takes, for the institutional players to unload their holdings without significantly impacting the price. I realise I have a cynical view, but it makes perfect sense to me.
This may be dragged by the ftse today and go up a bit
That’s about as positive as I can be.
Then again it’ll probably go down with the hangover of yesterday’s awful TU.
If even the Guardian can carry an article grudgingly supportive of the 3/Vod UK merger, then the prospects for the deal are looking up…..although it may not be approved for some time.
Italy allowed 3/Wind tie up but imposed conditions that have allowed Illiad to dominate the cheaper PAYG space as a MVNO….such that it thought it could acquire VOD Italia.
MVNOs are already 17% of the UK market….with some support of the MVNO market, the 3/Vod merger will probably get through. Although whether this should be celebrated by the 3 remaining network operators will be an open question.
I am in the same boat as you. Bought RR shares at an average of 86 and Vodafone at an average of 118. As RR soars Vodafone tanks. That's why it pays to diversify.
Invested here in the 180+ range.. Big mistake i admit, and i persevered CEO after CEO expecting better, but delusional leadership from the 2010's onwards never really recaptured their Mojo.
The hope of the deal with msft might keep this afloat but it's a decade too late. I'm just glad i have RR. gains ( in at 90p) to offset the VOD losses.
Not a chance it hits 50p…
Has pretty much bottomed out in my view.
Debt pile has been high but becoming far more manageable esp after Spain, Italy, UK merger and IoT spin out.
Fair Share will lead to some mid term changes as not been sustainable for telcos to carry OTT data consumption - the regulators / EU will need to back network providers or accept potential acquisition from afar (and they’ve already warned about the security risks there).
We hear a lot about stocks doing better stateside than here but the reverse applies to VOD's US listing. It always gets hammered more on the Nasdaq, which drags it down on the FTSE too. Maybe they should suspend it's dual Listing.
Fleecy, stfu 🤣
Jax yes it is high, just not quite as high as before, but not dropping as quicky as expected, that's why they have reversed the decision on cutting interest rates
As for vod and bt very similar, they have not been rewarding shares to be invested in fact they have been capital destroying shares, and i'm not convinced they ever will be, for myself i'm just hoping they can at least make some gains from this current very low sp, so i can sell up without such a large percentage loss, thankfully i have not over committed to this share, but saying that nobody invests in a share to lose money, it is what it is i'm afraid
It may get better of course, but it wont happen overnight for sure