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My Poolbeg shares have appeared in my Lloyds account but on 1:2.98 ratio the quantities are wrong.
Also both ISA and share dealing accounts entitlements have been lumped together into the share dealing account only outside of the ISA....
I'll get it sorted but only to ask if anyone else has similar problems with their accounts.
Personally, I just prefer these things to go through a remuneration committee, vote at AGM rather than 5 or 10% getting creamed off without any shareholder involvement. Same end result but leaves a better taste, esp after hearing repeatedly for over a year that no-one in OO gets share options, all salaries are capped at a low level etc etc. The reality is different. No real complaint as he is creating value for all us, just the process knaws a little.
U-turn??
They're talking about Y2020 final dividend (which I think will be lower than Y2019 as net profit will be lower due to lower production / WCP B move etc. HI dividend was lower....).
60% or share buybacks have always been in relation to Y2021 accounts and onwards.
Obv they started Pilivilli in a good position but ore grade of 5.64% was something to be pleased about.
Averages in past years were Y15 4.82%, Y16 5.06%, Y17 4.46%, Y18 4.35%, Y19 3.58% and H1 Y20 3.33%.
i.e. kicking off with ore grades 70% higher than achieved in Y19.
Throw in ground conditions of free flowing sand and less muds/silts, no wonder production guidance is what it is for Y21.
As production guidance is only 50% higher than Y20, clear the future grades will fall back to a lower, longer term level.
Proft will be down. Can see it already by comparing interim dividend from Aug. Shipments y-o-y down 17%, production down 15%. This will not be offset by rise in WASP (IL prices up / ZIR prices down). Final dividend in Feb will be less than 2019. But these metrics are backwards looking and irrelevant to the overall picture.
Dev capex is effectively finished for a few years . WCP B move was 124M alone. Production guidance for 2021 best part of 50% higher than 2020 off a fixed cost base. Dividend payout and/or share buy backs will be best part of 60% of net profit vs 20% to date. Market outlook positive for pricing.
Both Bronagh J and Peg had bow thrusters installed to help with manoevrability, plus Peg had it’s larger excavator/clamshell to increase speed of loading during 5 year dry docking in September, plus more significantly the quay will be modified by end June this year to allow dual loading of both vessels at the same time.
When they introduced the divi, plan was 20% of net profit until Sept 21 (ie WCP B move completed) and then looking to step up to 60% of net profit.
Soon after, they dropped reference to 60% and referred to various options, share buy-backs, special divis, greater sharerholder returns etc etc ie so they do not get boxed in. Expectation is that 60% will be used one way or the other.
Was talking about negative retained earnings due to losses in past years and clearing these prior to paying out of dividends. Nothing to do with cash balances.
Surely dividends are a long way off.
Past accumulated losses to be wiped off first.
7 min interview with Base Resources. https://www.youtube.com/watch?v=lfMFr4JB-vE
Possible relevance to KMR is from 4:25 where he talks about market outlook/prices,and is similar to KMR's .
https://twitter.com/KenmareRes/status/1305822680059465728/photo/1
Morning all. Can anyone refer me to any past TLOU info on expected construction period for the connection. If they reach tender stage by Y20 end, is a period of 12-18 months reasonable? Strikes me that if connection and first sales are still two years ahead, all these issues about flow rates, water ingress etc are a bit of a side show to the main event of funding and connection to grid.
Yup, also a lot of June shipments meant that payments carried over into next reporting period.
Within the Q&A, someone asked for a projected net debt position at year end. KMR would not provide guidance but referred to consensus estimates of 75M. Not a major increase considering development capex is H2 weighted (83M vs H1 59M). That said, some sustaining capex shunted into H1 2021.
Also, H2 grades will improve. WCP A was also in a low grade area in H1 but will move on to a better area. WCP C is mining smaller, higher grade areas but will contribute over the full H2 period.
On balance, think there are positives tucked away in the detail.
Under the old financing package to 2022, they were always due to have gross debt of 52M + a bit in interest at H1/20 end.
Throw in grade drop off and reducton in production of over 100kt at ave FOB, that's a 25M+ hit at least
With new finance they have undertaken extra capex - MSP upgrade was added at15M. Monazite was 6M.
Jetty and vessels next.
Corvid 19 has direct cost 10M in mitigation, plus increase in operating costs (trucks, generators), plus what has it cost in mining low grades for longer?
May not explain all but think it does for a decent chunk.
Things are dynamic so not sure looking back is the best approach. As of today, is the future half full or half empty.
For those who did not tune in to the presentation of H1 results, it is now available with this link...
https://youtu.be/FZnWBZuoB3s
I missed it and wrote to IR who gave their normal excellent service and provided the link - I'm sure they won't mind me sharing...
Yup. AUD 3.5c is 1.92p ~ 14% !!
This was one of your suggestions years back and when I invested pre-raise at 3p so effective dividend now is over 60% !! Remain appreciative of this and others you gave at the time.
Off my own back, added more at 15.1p which was not quite so smart.....!!
Video - good find Greeno. (Used to seeing bookcases in background rather than a bedroom !! but overall message was positive)
See that Base have announced their maiden dividend today, with SP up 15%. Hopefully shows confidence in outlook which may spill over here.
ObservantKen, I have empathy for your grumblings - I started with a 20k+ investment North of 30p (equivalent to £60) and invested multiples more before rock bottom in Dec 2015, all bad investments never to return - but equally, the bottom was nearly five years ago and what have you done since? Your issues are no longer relevant. Those disuaded from ever investing have been replaced by others and things have moved on. I kept investing, using the accumulator principle over time and reached breakeven (counting from Day 1) initially at 360 and then at 260 and now need only a marginal increase from here to get back to breakeven a 3rd time. I have no grumblings and am looking forward to a positive future once this WCP B is done and dusted.