Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Merger talks between LXi and LondonMetric are being reported
Market cap - £31m
Forecast for 2024 £60m rev, EBITDA loss of £14m, and exit 2024 with cash of £15m and undrawn facility supplied by largest shareholder EDF.
Owned assets build out now complete and generating revenue.
Commercial sales units for 2023 c.20,000. Deal now in place to supply housebuilders, including Redrow, Crest Nic, Barratt, Taylor Wimpey, Bellway. Between them they build c.46,000 units per year (all won't have drives) but that will be a significant uplift over 2023.
Capital light entry into selected European markets that EDF trades in.
Increasing EV's on roads and recurring revenues building.
New CEO.
All in all I'm thinking this might be an ideal time to take a small opening position in Podpoint.
The £2m will be going into the JV, not MAST bank account.
180k share is less than a grand
How are they going to shift the 1,000s of cars in stock? At a cash loss would be my guess!
They benefitted massively in the years after covid where they could sell 2nd hand cars for a huge premium over cost.
Thats how share capital works.
100 shares of £1 each = £100 share capital.
Initial start up capital could for example be £1m.
Accounting treatment would be
Debit cash £1m
Credit Share capital £100
Credit Share premium account £999,900
Many limited companies will have tiny share capital. Check share premium or directors loan accounts.
The money hasn't arrived else we would have had an RNS.
Lets see what tomorrow's RNS states. Banking Issues. More Due Diligence. Legal action.
Got to love a 4pm 'Trading Statement', always bring good news.
Would have been prudent to discuss revenue recognition at the start, rather than wait until 11 months into the year.
Last 12 months chart looks like a tech stock
Can just imagine all the board huddled around a laptop refreshing the online banking page and still no funds arriving into the JV's account.
Mast know if the money will be here by thursday. We're 9 working days since 15th, and any banking issues should have been resolved by now
Knead, they would sell a, for example, £1m asset to the jv for £1m in cash. The cash come from the jv, the jv which they haven't put 1penny into. They then can book a minority interest of 10%. But mast then has the £1m cash they can invest in their own projects.
'Without the funds, administration?' - the funds are going into a new JV which Mast will hold 25% of. The only way Mast will see any of the cash is if they sell assets into the JV,
Is it 5, self imposed, deadlines that have been missed so far since the JV was announced on 12th July? MAST could have handled the whole deal in a more professional way. Trust is at an all time low.
If they don't pay the £5.9m can't see them paying the £33,000, so far, in late penalties
Lets not forget the raise for Nordkalk which was at 85p. Share price almost 50% underwater since then
And just wait for all the rampers to say how fantastic is it to now be able to buy this share at a 50% discount to a few weeks back. The Company that just keeps giving, just not for its shareholders
All the other RNS' have come the (working) day after the deadline.
This is a prime example of a company trading at a large PE and not hitting targets, share price gets hit. The market has for quite a while been wary of North American sales forecast, is this making people even more concerned that this slow down in Latin America might spread to other markets?
Casapinos - agree with the revenue reduction but profits could be hit harder as a proportion of costs will be fixed.
Abicad have spent just over £99m since the 10th March 2023 buying shares. And its barely made any news coverage.