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The update seems to be pretty positive given the pressures that Covid placed on the world economy, including supply issues. I felt quite optimistic reading through the text. That is until I got to Simon Tucker's contribution of " ... I am disappointed with the poor financial results."
Hey ho, spanner in the works by the CEO.
Great results this morning. I put a buy order in at 8 am and see that my order is still "pending". No shares being sold or an ii c@ck up?
Crazy prices the morning .... what is happening?
@Killian and @Cringsing your personal concerns will not make an iota of difference to the market and I wonder what your point is on this forum. To a certain extent, I agree with what you say but I am invested here and will let the couch potatoes stuffing poulet à la crême add to my retirement funds. These were v impressive results, by the way.
Like many here, I am (tongue-in-the-cheek) sure, that the most important item on all our minds for the operational and financial highlights of the year had to be the safety record. Great then that it was reported as the first item!
In two days the SP has gone from 3 or 4% over nav to 5 or 6% under. Why? I have no idea.
Interesting day in the market today with buys at 404.6p and bids at 404.4p while the supposed takeout price is 403p. Is there a counterbid coming? Otherwise, why are people buying?
I bought in at the IPO in 2015 at 195p and have reinvested all the dividends. So about a 15% compound per annum. Not a bad investment. I can see Contour Global going the same way (asset rich and a cash cow, like JLG).
Sorry @rylidan but I have to disagree with a few parts of your post. Yes, agreed, we are in a prolonged period of green initiatives and these should be enhanced by COP26 in November, and we are a low cost producer. But I cannot see how oil prices can go higher on lower demand - unless there is a significant cut back in global production (but which companies/states will blink first?). When cutbacks do occur, I can see the more costly producers - often frackers - going first. Remember where Iofina gets its brine and what happens to our production when our frackers shut down. Given that Iofina produces on the tail of frackers, I cannot accept Iofina as a green supplier. Also complex chloro and fluoro compounds are not great for the world's health - remember CFCs and a hole in the ozone layer? Perhaps the green credentials will come from our cannabis sideline. I sincerely hope that Becker and co are looking for other sources of iodine rich brine.
This morning's RNS shows that we are adding to an already interesting and productive asset base. Do not be surprised if foreign eyes don't start to oogle over our curves. If KKR can look at JLG and the market now rate it at some 20% over asset value, I can see others like the Ontario Teachers Pension Plan (remember they tried to land Severn Trent a couple of years ago?) drooling over the income generation.
I'm happy to have got in here at the IPO and added during the recent fund raise, all tucked away in my pension pot.
What does this say about JLG's own estimates of NAV?
You can have mine maverick