Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
With the RBL requiring 50% of production to be hedged from Q4 23 to Q2 25 Jadestone won't be exposed as much as it was to your predicted increase in oil price
Its been an exciting 5 months!
31st Dec - Net Cash $123m
22nd May - $200m debt facility signed
31st May - Net debt $8.8m
6th June - Min $85m fundraise
Yes there is development projects but this cash management is terrible. Dividend paid in 2022 and they were buying back shares in January 2023
Podcast last week CEO said the assets will either be MED assets, new acquisitions or a mixture of both. He said likely to be a mixture but actual assets was part of the due diligence with the II that was still to be done.
He did also say that the current MED pipeline of assets would require £20m of capex to bring them all into production so it made sense to move some of those to the JV
Deal hasn't been signed yet, nor have the assets for the JV been agreed. Once its all agreed and some cash changes hands I'd expect another good increase
No shareholder dilution. Injection of cash is into a newly formed JV in which Mast will hold 25.1%.
The £33.6m is injection in a new JV, of which MED will own 25.1%. That doesn't dilute existing shareholders in MED.
"Maybe the director buys will come over the next few days or weeks, or maybe they know something we don't"
Much worse then. Director sale.
Maybe the director buys will come over the next few days or weeks, or maybe they know something we don't
The buy back is only to reduce the impact of share option dilution. 5million shares are expected to be purchased this year. Outstanding share options is 18million shares, of which 12.3million are exercisable from this year to 2027 at an exercise price of £0.00.
As MS has previously said acquisitions wouldn't happen until the share price is back up to £4, or unless the target Co is happy to be valued at a S4 share price of £4 or more.
So with LFL growth of 6.1% in an environment were inflation has been running at 10% or more for a year S4 isn't keeping up with inflation
Looking very much like an ex-growth stock
Give it another few weeks and I'm sure they'll be another great buying opportunity
Depends if that's 'adjusted' EPS.
2021 results were published on 7th April. 2022 results surely any day now
Let's hope now the offer period has ended we see some director buys
More likely to see Supreme add SiS to their portfolio of assets
Can't help feeling underwhelmed by the outlook. Growth half of this year and just slightly ahead of the market. Scaling back of work with one 'whopper' (mondelez). 4mile analytics bought last year completely written down as performing badly.
And the adjusting items keep coming. £249m in 2022 and expectation of £150m in 2023.
Spread from the HSBC bank next door
It appears to be done. Which means they couldn't find anyone to sell at 75p. Which could be seen as very positive!
He still owns a lot of shares
Abicad is a long-term investor in Breedon and intends to hold its shares (including any additional shares acquired pursuant to the RABB) for investment purposes. Abicad has been a supportive shareholder of Breedon since the transformational acquisition of Hope Construction Materials in 2016.
The purchase of additional shares in this transaction, which it is willing to make in an amount of up to 84.7 million ordinary shares (equivalent to approximately 5% of Breedon's total issued share capital), is a signal of Abicad's continued belief in the business and Breedon's overall strategic direction.