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BALI, Indonesia -- Tesla CEO Elon Musk on Monday said he is planning to have more videos on his newly acquired Twitter, advocated for affordable electric cars and proposed more tunnels to help developing countries tackle traffic jams.
"Musk did say Indonesia is expected to continue making significant contributions to the global EV ecosystem with its rich nickel resources. In long-range EVs, he said, nickel, not lithium, makes up the majority of a lithium ion battery's weight."
Going crackers this morning, though I appreciate it's a bit disconnected from the actual product we're digging up.
I appreciate sentiment is low here, after grasping the nettle, but £250m for a company 16-17 months from production, with a NPV of several billion has to change soon?
CMC Markets PLC (LSE:CMCX)’s valuation is undemanding according to broker RBC Capital Markets which has reiterated its outperform, speculative risk rating on the company.
The broker has made minor tweaks to forecasts following CMC's pre-close statement but has left its price target unchanged at 350p.
“We continue to believe the legacy of profitability from the pandemic is underappreciated by the market, whilst initiatives to grow and diversify earnings are a further source of re-rating potential, if successful” the broker said in a note.
RBC said the current valuation of 9.7x current year estimated PE is undemanding for a high margin, capital generative, debt free business.
CMC is due to report first half results next Wednesday, 16 November.
Good response and a fair take.
Important to ask, "Would I buy now?" I'd argue that it's still a good purchase, and better than a bank with a 1-2 year view.
Interesting RNS and this bit: "The Placing Shares acquired by La Mancha have been acquired for investment purposes. In the future, La Mancha may, from time to time, increase or decrease its investment in the Company through market transactions, private arrangements, treasury issuances, or otherwise."
I'd be happy with £1bn, which would still leave a lot of potential for Glencore. I hope they do value their reputation, but I was a holder in the whole ENRC debacle and watched Sonora being snatched. Fair isn't on their agenda.
In JM's commentary, he states the raise is partly to be used to expedite the second line, so I'd be furious at another raise befoe production.
Apologies, I'm blurring the points, a concert party of current holders could take it on the cheap. Agree Glencore couldn't offer that alone for the valid reasons you raise. The manipulation point stands, however, they have headroom to raise again, plus dirt-cheap options. Fabricate a plant issue, raise another $100m at 60p, buyout at a £1.
I'm being a miserable git, I know, but I've seen this crap done before.
I too think there will be a concert party approach or Glencore will take it. They have nobbled the price and can manipulate it easily. Zero point giving retail investors any of the upside when they can swipe it for £400-500m. Cannot see this being public much longer, I know others disagree.
My view is that renewals are being sorted now, and that should include ZACO, before the 21st Nov.
Anglo didn't agree to a JV with significant numbers and presidential backing to then have it stripped off them. It looks far more that it's been extremely difficult to work through, legally and politically, but that has now happened. It's taken years.
My view is that Nick has had to spin several stories, to protect the shareholders as much as anything (including himself).