The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The Tanzanian Government is aware that H1 are close to making a JV announcement and that H1 have already outlined their plans to embark on a focussed drilling campaign for the licensed areas they have not yet drilled. They will also go back to the wells drilled in November.
Well done to everyone who has had the patience to sit tight and wait.
The President of the Tanzania Geological Society noted that concentration of 4.7% helium as per the finding signals existence of huge volume of the rarely critical mineral..
“Concentration of 4.7% is massive and is indicating the presence of gas, “Dr Mshiu said..
https://africanminingmarket.com/tanzanias-major-breakthrough-in-helium/17811/
Before drilling Tai-3, they had an independent Competent Persons Report (CPR) for Tai with a prospective 2.8Bcf resource.
This means they have $1.5B of HE1 at today’s prices vs a current Cap £74M
This is just for Tai, which is part of the Rukwa licence which has resource of 138Bcf.
They also have Balangida & Eyasi licence areas with CPR yet.
The price will go up as the company updates the results. They may not do a fundraise, they could take funding via a JV.
FROM OMEGA
Regulatory approvals in the US and CE marking for self-test use for our VISITECT(R) COVID-19 Antigen test will provide the catalyst for sales opportunities. We recently announced submission for CE marking for self-test use and we are now waiting for our European Notified Body to complete the review of our submission. MHRA approval for sale in the UK is expected to follow soon after CE marking for self-test use is confirmed. The US Food and Drug Administration (FDA) is reviewing the Mologic submission for professional use for the same test, and we expect a positive outcome for both submissions.
Advancement towards further regulatory approvals and commercial progress for the AbC-19(TM) rapid test continues. We had hoped for further news to update shareholders with on this progress, however the prospects for this test have not changed and we still believe there is a significant opportunity for this COVID-19 antibody test.
Online car retailer Cazoo reports £69m adjusted EBITDA loss in H1
28/09/2021 in Car Dealer News
Cazoo’s financial results for the first half of 2021 have revealed that the £5 billion-valued online car retailer delivered a £69m adjusted EBITDA loss in the period.
Reporting its results for a period which saw used cars appreciating in price at an unprecedented rate due to supply shortages, Cazoo revealed, although its revenues increased 521% to £248m as its gross margin rose 9ppts, it failed to achieve profitability in the period to June 30.
The news follows Cazoo’s reports of an £8m gross profit in UK during Q2 – reported ahead of its expansion into France and Germany – which had prompted many car retailers to question the online operator’s ability to break even amid high marketing costs and business acquisitions.
Despite its adjusted EBITDA loss, Cazoo grew its retail gross profit per unit reached £315
These figures are horrendous and their GP of £315 per unit sold is a disasterous result given the current stratospheric rise in used car values.
Majority of car buyers say they’ll support local dealers
29/09/2021 in Market Insight
Three quarters of car buyers say they are planning to purchase their next vehicle from a local dealer, according to a What Car? study.
A survey of almost 1,200 in market buyers found that 74% were planning to buy locally, while 84% said they believed it was important to support their local showrooms and garages.
More than a third (34%) of buyers told What Car? they would buy their next car from their local dealer even if one further away had the same model for a lower price. The same percentage of respondents were also willing to buy a different spec of vehicle than they initially intended if their local showroom had it in stock.
Steve Huntingford, editor of What Car?, said: “Our previous research has shown that most buyers research their next vehicle online, but there is clearly strong support for local dealers among in-market buyers when it comes to purchasing their next car.
“Convenience is always a reason why buyers prefer to buy local, but our research shows the same buyers also believe it’s important to support their local dealer and are even willing to wait longer or pay slightly more in order to do so.
“At a time when the industry is embracing online sales, this is a reminder of the role local dealers play for motorists, the loyalty this generates and the benefits of nurturing lasting relationships with customers.”
The research found 37% of in-market buyers are looking to purchase in the next four weeks, and 27% are set to buy within the next three months, confirming a steady stream of demand for dealers in the weeks and months ahead.
Despite a surge in lead times for some new models, 56% of in-market buyers told What Car? they would be willing to wait longer for a vehicle to arrive to a local dealer than buying it elsewhere sooner.
New Chairman has purchased 180000 shares in past few days
Lookers PLC Director Shareholding
15/09/2021 4:16pm
UK Regulatory (RNS & others)
Lookers (LSE:LOOK)
Intraday Stock Chart
Wednesday 15 September 2021
Click Here for more Lookers Charts.
TIDMLOOK
RNS Number : 9095L
Lookers PLC
15 September 2021
15 September 2021
Lookers plc
("the Company")
Director Shareholding
Lookers plc announces that Ian Bull, incoming Non-Executive Chairman of the Company, purchased 80,000 ordinary shares in the Company on 15 September 2021 at a price of 68.9p per share. Ian Bull's appointment as Non-Executive Chairman will be effective from 1 October 2021, at which point he will be considered a PDMR.
Lookers have got the biggest New Car order bank in their history, the pent-up demand for new is sensational. Once the City wakens up they will realise that this company and sector is not like a home improvements company or Howden’s etc, shares in these chaps have went stratospheric, however people don’t purchase a new kitchen every 3 years or have their homes painted or renovated every 3 years, unlike the Motor sector where new cars are normally changed and upgraded every 36 months…
Wakey Wakey
Time will tell but i suggest you keep a close eye on the sales volumes and profits from these 2 new entrants.
Through time they will fail…
How can Cazoo’s business be worth 20 X more than lookers?
For many City fund managers, the answer’s simple. It isn’t.
As one of the biggest, who has shares in traditional dealers, puts it: “Cazoo is a bubble. Pure and simple. Possibly one of the biggest ever. And when it pops, a lot of people are going to feel it.”
A reknowned short-selling hedge fund investor with a nose for such things agrees: “He’s a clever guy, no doubt, Chesterman. But I’m afraid this one is heading for a nasty fall.”
Cazoo delivering zero net profit but valued at £6 Billion, LOOKERS will deliver £5 BILLION in sales and profits of circa £90 million yet we are valued at £270m, it absolutely defies logic..
CAZOO AND CINCH will fail and the sooner the market wakens up the better…
Expect industry leading results and a new Chairman. THE stock will now be Re rated…
I have been told to expect phenomenal results
But this week MoneyWeek have called time on this big fat fib!
Adrian Porter at Which? found that in five out of six cases you get a better deal... at the dealer, reports Alex Rankine, Markets Editor. In one case you'd be better off by over £2000 selling to the dealer! Andrew Charman from The Car Expert also warns of sharp practice where "the valuations from car buying services can be cut once the vehicle has been inspected."
It's no surprise to the industry but the ITV star ads, which themselves feature Phill faking footie skills, parachuting and yoga are full of fibs.
But it's good to see reputable publishers calling time on this extensively advertised misrepresentation.
Just 10% of car buyers want wholly-online retail experience
Just 10% of UK car buyers plan to embrace a wholly online car retail experience facilitated by click and collect or click and delivery, JudgeService survey data has revealed.
The newly published State of the Nation Industry Report 2021 polled the views of 2,150 car owners and found that, despite an acceleration of online shopping and omnichannel car retail during COVID-19 lockdown periods, fe consumers want to purchase their next vehicle online.
In findings which appear fly in the face of the perceived momentum behind online car retail businesses like Cazoo, cinch and carzam, JudgeService reported that 73% of car buyers still want to visit a dealership in person.
Online retail options were most appealing to buyers aged between 36 and 45 – where 13% said they are likely to use one of these services – according to its findings.
Neil Addley, managing director at JudgeService“Our findings challenge the popular view that younger buyers are more likely to buy a car online, either by delivery or click and collect,” said Neil Addley, managing director of JudgeService.
“However, the actual results couldn’t be more different as a clear majority of buyers, across all age groups, want to visit a showroom in person to buy their next car.”