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Yes, I was there. An overview of the business and the financials. They did stress the value of offsetting previous losses against tax on future profits. They said they are looking to make further savings on office space. They seem very competent and motivated if not everyone's cup of tea.
Been watching for quite a while and made my first buy this morning. Sounds like the business is about to take off and the valuation isn't unreasonable with cash in the bank and even a little dividend. Looks like a decent entry at this level. Would look to add on weakness if funds allow.
I'm here for long term but worth keeping an eye on what Mosaic (major producer) is doing. Down 20% over last month
https://www.google.com/search?q=mosaic+share+price&oq=mosaic+share+price&aqs=chrome..69i57j0i512l3j0i22i30l6.6601j1j7&sourceid=chrome&ie=UTF-8
Just noticed that HSS is actually up 4% YTD. Our buyback not doing much good :/
Sentiment certainly seems to support what you say but the construction PMI and order books tell a different story. Staying put for the time being.
Banked a 17% gain on my short. Given it is currently up today while the wider market is getting battered suggests that RTN has found some buyers at this level.
Going forward, the cash position is what you need to keep an eye on. If it drops below below £40m you are looking at an equity raise to satisfy debt covenants
What does that mean?
Rather meaningless to the investment case, the stock is significantly undervalued on the Arupua asset alone. To be honest, I'd forgotten about the other fertiliser assets until this morning.
Everything in this morning's interims from Numis seem to suggest M&A activity is very buoyant:
"Advisory activity continues to be strong, and our M&A pipeline is continuing to grow. We expect to maintain the positive momentum in Advisory revenues through the second half supported by a number of M&A transactions for corporate clients which have been announced and will complete in the coming weeks."
Brazilian g'ment clearly worried about supply shortages: https://www.reuters.com/world/americas/brazil-plans-fertilizer-diplomacy-trip-nafrica-jordan-secure-more-imports-2022-05-03/
'Right product, right place, right time' did start to sound a bit cringeworthy but now nothing could be closer to the truth.
I'm actually very comfortable with this management team. Speak plainly, always buying stock, can't ask for much more. I think overly frequent updates come across as a bit artificial and insecure.
That's useful input, thanks. Worth remembering that K3C is not all about M&A these days though. The recent red flag report from BEG suggests the Quantuma might be getting busy before long.
I've added this morning. Economic uncertainty seems to weighing on the stock but given the positivity of the last update and the recent fall of the shares, I think risk/reward looks very attractive here.
Better than being wrong but for the right reasons
I think this update is extraordinarily good, especially when taking in conjunction with the recent multi-year contract win. Valued as a junk stock when it's actually a growing, cash rich, tech company
https://twitter.com/F15JCM/status/1519226694099472384
Only £2.50/y but things like energy inflation are going to be much more impactful on consumer spending. Also looks like wage inflation could be real problem in the industry caused by a 'recruitment crisis'
https://www.bbc.co.uk/news/uk-england-london-61149218