Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Yep. Comments from analyst at Kepler Cheuvreux seem sensationalist/pathetic as he has no insights to offer. He is just making stuff up.
Morgan Stanley analyst - he did apparently speak to the company.
From same article - this analyst has spoken to the company:
"Morgan Stanley analyst Omar Sheikh said that, based on conversations with the company, the reason for the delay is no longer a resource issue, and the lack of a revised date suggests the problem is “non-trivial.”"
Thanks for that.
Quick question do you have the link to Paul Smith's shareholding? According to this he has none left after the sale.
https://www.lse.co.uk/DirectorsDeals.asp?shareprice=MCL&share=Morses-Club
Shore Cap saying it is uninvestable and might be a zero - I never said that.
I just highlighted some of the risk here from the RNS today..
Irrespective of what Morses Club has on its website the way the regulators and Financial Ombudsman have behaved in recent yearshas opened the door to an avalanche of claims management companies going after non stanard finance lenders. Its crippled some and already put them out of business. That's the reality.
Analysts at Shore Capital put their rating and target price on Morses Club under review on Monday following an unscheduled trading update from the lender, which included a profit warning and the sudden exit of its CEO.
Shore Capital stated that Morses' update noted that its home collected credit division had been impacted in recent days by a rapid increase in claim volumes submitted by claims management companies and that chief executive Paul Smith had stood down from the role with immediate effect.
The analysts said that up until today, they were of the opinion that Morses had been doing "a relatively good job" of managing complaints when compared to its peers, making today's news "a game changer" for the stock's investment case, given that a number of other non-standard lenders had failed to survive after witnessing claims costs begin to spiral out of control.
Shore Capital also highlighted that outgoing chief executive Paul Smith had sold a number of shares only a few days prior to the announcement, something it thinks the FCA will be very interested in looking into further.
"Following this update, we are placing both our forecasts and recommendation under review. In all likelihood, the shares have now become un-investable, but without further detail and before knowing the extent of today's likely share price gall (which is expected to be significant), it is not possible to take an informed view as to what an appropriate fair value is for the equity (although a zero valuation a distinct possibility) and hence recommendation there-on," said Shore Cap
Certain aspects of the RNS seem very odd.
Year end is 26 Feb - this RNS comes out 21 Feb. So the full year financial performance is practically done.
Yet the RNS states the profit warning is due to "... HCC division has been impacted in recent days by a rapid increase". The company are only pointing to "recent days" - if that is indeed the case then CMC cases and costs must have exploded exponentially in a very short period of time. What does that say about the situation going forward? Not good.
The other possibility is that the company has known about this ugly trend for weeks, maybe months and never had a grip - they have now been found out.
the PDMR RNS is clear - Paul Smith did not inform the company of his intention to deal and did not seek permission. He dealt on 17 Feb and notifed the company after this on 18 Feb
After watching the online presentation yesterday the "leadership" are not impressive at all - weak. Vague, unclear responses to questions.
Share price failed miserably to react to the recent move in bitcoin price . Risks - further non-premptive dilutive equity offerings (Argo remains small vs the other miners so discount is always going to hurt existing investors). delays on existing equipment /miners orders.
If there is any meaningful pullback in bitcoin price Argo share price will surely follow. Seems aymmetric at the moment as correlation to bitoin price has evaporated - if it goes up Argo hardly moves, if it goes down Argo share price will tank.
Yevgeni Shtuckmeyster
Chief Executive Officer at Plus500IL Ltd.
https://il.linkedin.com/in/yevgeni-shtuckmeyster-991b3a41
Yes that looks like the same case.
The recent update is that the Judge has now approved Class Action status where potential claims over prevous 7 years can be opened up for others. There may be securities law violations according to the article.
Does this lead to similar cases being brought in other jurisdictions .. who knows.
Negative article in the FT today: "Alphawave: the ARM wannabe’s curiously close contracts"
Not sure why Telit Board (and Rothschild as adviser) have allowed DBay access to further due diligence without first getting some indication from DBay at what level they might be minded to make an offer. DBay know this business well already.
206p is hardly a premium to DBay's previous offers.
This looks like a waste of Telit's time.
https://www.sharesmagazine.co.uk/news/shares/loopups-remote-meetings-lunch-is-being-eaten-by-microsoft-zoom-and-others
‘Looking to 2021, we see headwinds including lower post-pandemic usage per user, plus risks from current higher churn rates,’ said Numis analyst Will Wallace on Friday.
‘The pipeline for telephony is very large, but conversion rates are very uncertain.’
FORECASTS SLASHED
The analyst hasn’t so much taken a red pen to his previous estimates, more a tin of red paint. ‘We cut our 2021 revenue forecasts by over 40% and forecast a £4 million cash outflow in the year.’
Numis had anticipated £3.8 million of 2021 free cash flow. Wallace has also withdrawn his previous buy rating on the stock.
Revenue in 2021 is now projected at £32 million from £55 million and EBITDA goes from £13 million to £6 million. This will mean, according to Wallace’s calculations, that where a £5.8 million pre-tax profit was meant to be, a £1.3 million hole will now sit."
According to that RNS, NSF was informed of this on 22 July - it appears the company have sat on this information until now.
"Traders' Sentiments" on the platform is the % of Buyers vs Sellers i.e. there is nothing to indicate this represents the relative value of notional positions. As such, on its own it is quite a crude measure and it doesn't really add much in understanding the relative value of instrument positions e.g. it might show 67%/33% but if the 33% have larger notional position sizes that instrument might be closer to being balanced.