George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Odey is not having a good time:
https://www.cityam.com/odey-am-loses-tax-battle-with-hmrc-over-executive-pay/
Metro being talked about in the UK version of Wall Street Bets.
This might get interesting if they actually have enough numbers.
https://twitter.com/trade_march/status/1357230776425861121?s=19
Not sure if this was posted earlier:
https://www.barrons.com/articles/look-for-more-european-bank-mergers-after-spains-big-tie-up-says-citigroup-51600442815
You have a negative view on the company and any plans it has, I get it.
Questions for you are:
Are you short or long?
If long, why don't you sell up if you don't see any hope?
If short, why pretend to be a holder? No one really cares if you short a share!
"So from a loss to profit and not just any profit..."
Theosus for the last time, RateSetter used to pay high interest to attract capital from investors minimum 3%. They don't need to do that under Metro! Therefore it can be made profitable.
Seems to me that a branch network has its own advantages.
https://www.ft.com/content/8a03248c-2f8b-4aa9-86db-ce8a409e0e60
Big smokes, I think there are bigger opportunities than My Republic Bank like in the link below. As I mentioned RateSetter Australia probably use the same platform and both seem to have done fine so far, although the UK one had some fickle investors.
https://www.fintechfutures.com/2020/02/oaknorth-to-deploy-lending-platform-for-dutch-lender-oimio/
zccax77, yes RateSetter can scale up Metro's consumer lending loan book quite quickly if they wanted.
I was more talking about licensing the platform to other lenders outside the UK for extra fee income without taking on any risk. OakNorth I think licenses out the SME lending platform.
I wonder if they could license the platform for consumer lending to banks outside the UK for a fixed royalty free. Something like what OakNorth does.
RateSetter Australia I think is planning a IPO for AUD 280m. There might be other lenders interested in such a platform.
"But i can say from a technical point of view, the city has not fundamentally rated it"
Maybe the city has rated it hence the move from 70p early June? Just the news broke for PIs a bit late.
Theosus,
"You know what they say if something looks to good to be true. It probably isn't...
I would love to see the maths on that.
I hasn't made a profit !!! So how come it suddenly will ?"
Again you completely disregard the interest they pay to the lenders. If you replace their cost of capital from 3-8% they pay right now to BoE rate, the platform is in profit.
Theosus,
"So who now holds the provisions account and the "old loan book"?
Are you saying Metro will be starting from scratch with the loan book under the Ratesetter platform. So it will be a while building that book then? Am I correct?"
RateSetter current loan book is owned by their current lenders. I believe this is also true about the Provision Fund as its a buffer for them. But both are managed by RateSetter for a fee.
Metro will be building its own loan book using the platform over a period of time. I think that's what the £9m payment after 3 years is attached to.
Theosus the past performance does include the default rate.
This might go up due to CV as the economic effects unfold and current investors on the RateSetter platform may incur future interest loss as well as capital loss but that it irrelevant from Metros point of view.
"So you feel that this deal will mitigate the £33.25m Metro has to shell out on the 9.5% coupon.
Which means this deal will turn around the :
P2P lenders 2019 losses of £21.5m and 2018 losses of £8m to a surplus of at least £33.25m
Lets say I am less confident."
You are not really taking into account the interest that RateSetter pays out its investors which to date has not incurred a interest or capital loss. Minimum interest was ~3%. The loans from the platform have a gross yield of 8% (I even calculated a similar value looking at loans from an investor) and there will be cost saving as part of the merger. So I do believe it will be able to take a fair chunk out of Metro's MREL coupon.
"Never understood men who force themselves on women, with his money he could have hired the best call girls in London."
Not saying he is guilty, as at this time it's still an allegation, but for some it's all about what they cannot get. Like 4.3% of MTRO stock.