focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Hi Randy !!!! Please excuse me but I do not see the logic deriving from the first sentence you posted. Did you mean that after all the bad years on HML your intention is to grab recovery and run. Run at the moment of prosperity start and profit grow. Is that right. Well it is a free country, so you can do whatever you want, the same be done by shoppers because they do as much good for the stock as much bad for it. In reference to the deal there is no further needs because all deal were don all ready and contract signed. Another question at present it is only to the KSM satisfaction. Which the only condition apply to the contract between KSM and HML present. The pipeline of products I did mention on yesterday is a model. HML prefer this type of business performance, which is in favor of these clients. The KSM did make a fun from all these millionaires’ funds on the past (November and auction) because they do not want any privet company in entire investment, the only way to get to the table is HML. And we just try to figure at what pieces of cake from the entire pie we be able to get. Statement of facts. -KSM and HML agreed to sell, and first millstone payment ($1.3m) shall be made by due diligence day (14,07) based on satisfaction. -the rest of the $5m be paid as well, but on that we have no detailed info, just some words. All we know that after completion of the transaction the $250K be paid within 12 month period. Logically case taken the $5m shall be paid before the $250K, because this be paid upon completion. The meaning for “based on certain milestones” is uncertain.
All as predicted - Quiet before the Storm To consider needs for HML you must remember that White and Klakurka know each other for more than few years on the topic of the rights sold. (Henderson Morley was set up to provide a pipeline of products to the pharmaceutical industry on a worldwide basis. Henderson Morley has chosen to adopt a model whereby its products are to be out-licenced to a commercial partner. The partner company will assume the responsibility of progressing candidates through the clinical trial process, and then utilising the pharmaceutical partners infrastructure/distribution for finished products.) Klakurka has 30 years of experience in the international pharmaceutical industry. Before joining Merck in 2001, he held a number of progressively more-senior management positions with major international pharmaceutical companies including Johnson & Johnson, Schering-Plough and Astra. Most recently, he spent five years with the generic pharmaceutical business of Apotex Inc. in Canada. As CEO of Genpharm, Klakurka has been responsible for the development of Merck's generic businesses in North, Central and South America. Henryk Klakurka studied Sciences at the University of Toronto, graduating in 1972. He was born in Germany and is a Canadian citizen.
This one just show how important HML was for Klakurka, and on November He decide to act. Any way let see what the next week be about.
Any way there is all known story, but if you Read them over and over always something New come up. A specially from those unhappy. One think in my opinion is out off question, the Klakurka Character. He is always there were something is to, or must be done, and whenever he does sign any contract or cooperative movement he stay there to the very end, until he get all of it. Simply a businessman. Money all right, but thereafter. The privet investment in Florida He does show it too.
Nothing new all as predicted, some shorts. Any way LSEx show this morning 18,81 on plus, so looks all OK just some nuts buy shorts if so. Any way if does find something like Klakurka and labs contracts do it today, so we will worked out.
Hi Randy!!! All begin about beginning of 2009. The Germen Government got (let say) some Idea on health system improvement. So as within a government system plan + budget approved by Deutscher Bundestag. On about November Hank or Henryk Klakurka representing Germen National Interest buying on auction two pills manufacturing company. Also on November an offer has been presented to HML. On Jun, 2010 Klakurka representing Germen interest acting on merge tow American pharmaceutics’ company. Well I did question the same way, what is going on? The German Government will run pills manufacturing company and for that reason spend taxpayer money, not only nonsense but stupidity. Moreover none of the company are located in Germany, all outside of German territory. The government does not act as Soros with its privet fund, but Soros was out of the investment and The Government does not wants any privet investment in at.. Now, What HML does for them. If you study just the letters of intention you may realize that HML not for the first time sold intellectual property rights ("IPR"), but at this time for 5 million and why. Moreover they got additional job on assistance for 250K. and further, more or less specified intention. First of all there is nothing illegal, so they do not have to specified what is going on. They does inform shareholders about the action and expected income. But if you read between the lines it become clear that HML will (based on these experience) perform some form of major laboratory. [Klakurka has own experience and now how in re to business] For Conclusion ask any of your friend who works for government, because my may go too far. G20 be some of the response, in my opinion all the party has full knowledge.
Hi Randy!!! As I mention before My IQ does not allow for me to pick up the Idea at the time were you past it to me. You were in re Banking test but me on HML. Commerzbank who backup Klakurka pas it and the Bank of Germany is out of question, so the payment by KSM for HML is save on that issue. My concern is to the fact how long the cooperation between Klakurka and HML will act. I will try later on to show why this investment [HML] is safe and no needs to panic because it as good as Germen gold deposited in European Bank to protect the single European currency.
I don’t think that this do much deferent In Re HML. Klakurka does represent non privet investors, as you pointed at both Canadian and Norwegian auction all the privet funds’ give up. The question will stay as to what extend the pills manufacturing company will need HML.
Hi Randy !!! According to my understanding you does bet and lost. Well I do not know that this make you happy somehow, you not the first one and not the last one, moreover you not alone. Well if you like on daily basis to do some investment and not bet then learn more about shoppers they do some time 60% - 90% per day. Off course not every day. Check today the NTBR and tell me what you thinking; what mistake the inexperienced buyers does. Why they did purchase NTBR.
Not all the investment are shown, because lots of the investment are done out of LSE. I do know that the awaiting time are worst of all, because there is no action. There is action but not shown. One day like Friday all you see just move up.
Hi Rundy !!! You shall be proud of your Conservative Government. Hell what I’m saying, we shall be and our Government. You know That Gordon Brown spend money on left and right, but not In the National interest. The conservative Fill ashamed for Labor Government and trying to restore what ever been damage by G. Brow. I (say just herd)that that HML application is in progress. With all the crisis it may happened that be approved. Regardless The reason that the Germen are interesting about HML they trying to restore whatever they can. So when all for HML goes down, now looks like the wind will change. Do not worry about yesterday, remember that the Beatles at the beginning play for all at Hamburg. This is Europe, our Europe.
Hi Randy!!! Currently I do live in London. First of all the 250K be paid within 12 month period for additional assistance. On or before the 14,07 there be paid 1.3m. It is a huge possibility that on “R” day (Raise) your.31 be achieved. Any prediction on the “R” day be rather speculation, but in my opinion this will go like that; four to five days cash flow, each day about 4m volume plus shoppers. Firs day price raise; ,21, second day ,25, third ,34 fourth ,40 the hi of the day, and this speculation does based on average record on HML but in case there be a aggressive one, can go even to, 85. All we has to remember that this is a one year investment based on current circumstances and knowledge. So after January 2011 the price shall be about 3p. Within this time the HML must be showing progress on daily bases, so the price may be about 5p on march next year. Since the pound is not too hi the day of payment be as the best price considering from the 1,07 and 14,07. If they do one payment?, off course on the “R” day be about ,35 hi. All of the above is more likely a wish.
Born In America, grownup In Eastern Europe In German roods family. If be paid today shall be about 872863,56 pound and if considered as a plain payment the price will not move more then ,25. In my opinion even and if be paid on 14, we will see it day after. Moreover, all the payment be played by Brokers about 4 to 5 times cash flow. It the game on shoppers.
Soros and Klakurka is not exactly old story, they are still (money) friends where from the grievances.
Hi Randy!!! Please excuse me but my IQ are Little too low to pickup English moderate abbreviation. What is the meaning for ” mm's are taking note” I thought that this page be more likely safe because not many investors does viewing here based on post’s placed. Few of us from the same company working different hours, and not always has in off time to exchange basic point of mind.
For now all as predicted. Some movement but we do not know that this is the one we does expect. Some shorts are closing no needs to be worry. Yeah I did view the Soros grievance. Angela Merkel support Hank Klakurka, officially “Angela Merkel in a speech earlier this week "expressed support" for any increase in spending to cover costs in the health system, to be "partly financed by taxpayer's money” (about November 2009) And this is the big bank for HML. They did apply with English Government – the result extended application – so the HML inform that they apply abroad, and in response Hank Klakurka with its letter of intent. With Deutschland Bank HML has good future. Type at google Angela Merkel and Hank Klakurka. Well if today be another raise that means it is.
Yes and no!!! All depend, after consideration of the calculating stock prices (posted below read the last as first) and referring to the history of HML the 872863,56 pound as a cash flow does not change much. The major movement occur because of the investors. The question be what be difference for those who are in the stock and to these who jump into after cash flow.
Estimating Market Capitalization Rates If we go back to our simplified stock price formula, we can use that same calculation to develop an estimate of the discount rate (or market capitalization rate). Rearranging this formula we have: Discount Rate (R) = (Dividends (Div) / Stock Price (P0)) + Dividend Growth Rate (G) Remember, if we are going to develop estimated prices for stocks, we're going to need to figure out what the proper discount rate (expected stockholder return) should be based on stocks of equivalent risk. That means we need to calculate the discount rate for stocks that are of equivalent risk to the one we're thinking about buying. We've already discussed how the dividend growth rate can be calculated, so we only need to solve for this portion of the discount rate equation: Dividends / Stock Price Fortunately, this particular ratio is a commonly published stock ratio and is known as the dividend yield. In this example, we are examining a stock of equivalent risk to Stock A. Let's assume that Stock B has: • Dividend yield of 7.0% • Payout Ratio of 45% • Return on Equity of 12% First solving for the dividend growth rate: Dividend Growth (G) = 55% x 12% = 6.6% Finally, solving for the discount rate: Discount Rate (R) = 7.0% + 6.6% = 13.6% We've now have a method for calculating a stock's price based on some fundamental information about the stock itself and information on stocks of equivalent risk. That is, we've now explained how to calculate all of the variables in our stock pricing formula: Stock Price = Div / (R - G) Drawbacks of the Constant Growth Stock Pricing Method The simple discounted cash flow approach to pricing stocks is extremely useful in valuing and evaluating stocks. Just make sure you're not too focused on the formula's themselves and not the stock prices these formulas are calculating. For example, the estimation of the discount rate is very important and needs to be made on stocks of equivalent risk. In the computer age in which we live, it is quite simple to develop this estimate based on a reasonably high (ten plus) number of stocks. You also need to pay attention to the growth rates you're using. If the company you're evaluating has a relatively high growth rate, you need to be realistic about the sustainability of that particular growth rate over time. Finally, keep in mind that the stock market is a pretty efficient market. If the stock prices you're calculating are very different than the actual market prices, then you need to take a second look at your assumptions. There is no such thing as easy money when it comes to picking stocks. If there was we'd all be rich.
In fact, when taken to an infinite timeline, the price of stock has nothing to do at all with capital gains way out in that infinite future. It is simply a function of the dividend stream divided by the return that can be derived from stocks of similar risk. This allows us to simply our stock pricing formula: Stock Price = Sum of Dividends (Div) in each Time (T) / (1 + R)^T You might recognize this formula as the discounted cash flow formula where stock dividends are substituted for cash flows. Stock Pricing via Constant Growth Model In fact, we can further simplify this stock price formula by applying a constant growth model to the company's dividends. This is similar to simplifications that are used in evaluating returns in perpetuity. Using this model our stock price formula then becomes: Stock Price = Dividends (Div) / (Expected Return (R) - Dividend Growth Rate (G)) Or Stock Price = Div / (R - G) This constant growth stock pricing model does not mean the stock's dividends will remain the same over time, only that the growth rate is constant over a long period of time. And by examining this stock pricing formula, you'll see that it only works when the expected return, or discount rate, is greater than the dividend growth rate - an assumption that is quite logical. Estimating Market Capitalization and Dividend Growth Rates Now that we have a simple formula to calculate a stock's price, we need to figure out how to calculate all of the individual variables in that formula - in particular the projected growth rate in dividends and the market capitalization rate (discount rate or expected return). Estimating Dividend Growth Rates An estimate of a company's dividend growth rate can be made by examining a company's projected earnings growth rate. This estimate assumes that the return on equity for a company and its payout ratio remain constant. Dividend growth can be then be estimated using the following calculation: Dividend Growth (G) = Plowback Ratio x Return on Equity Where: • Plowback Ratio = 1 - Payout Ratio, and • Payout Ratio = Dividends Paid / Earnings per Share, and • Return on Equity = Earnings per Share / Book Equity per Share All of these variables can be easily calculated when you're researching a stock. They are often calculated for you by many of the online stock research tools. We've also taken the time to group and explain the significance of many of these variables in our article on financial ratios. Sticking with our example, if Stock A has a payout ratio of 60% - that means they pay out 60% of earnings in terms of dividends - then their plowback ratio is 1 - 60% or 40%. Let's also assume their return on equity is 10.0%. That means their estimated dividend growth rate is: Dividend Growth (G) = 40% x 10% = 4.0% Estimating Market Capitalization Rates
Most investors buy common stocks for two reasons. Stocks typically offer investors a cash dividend in addition to the potential for capital gains. Here we will present a method of calculating stock prices based on a constant growth model which uses a discounted cash flows approach. Calculating Today's Stock Prices Since investors buy stocks for both the dividends they pay today and the possibility of a gain in a stock's selling price, then the expected return the investor can be expressed by the following calculation: Expected Return = (Dividends Paid + Capital Gain) / Price of Stock This expected return for a stock is also known as the market capitalization rate or discount rate. We're going to use all three terms interchangeably throughout our calculations / explanations in this article. Let's look at a quick example of how this works. These are our assumptions: • Price of Stock A is currently $100.00 per share or (P0). • Dividends are expected to be $3.00 per share (Div). • The price of Stock A is expected to be $105.00 per share in one year's time (P1). Therefore our capital gain is expected to be $105.00 - $100.00 or $5.00 per share. In this example: Expected Return, or R = ($3.00 + $5.00) / $100.00 = 8.0% We can now use this expected return to calculate the price of a stock in the same risk class as Stock A using the following formula: Stock Price = (Dividends Paid (Div) + Expected Price (P1)) / (1 + Expected Return (R)) Proving this calculation with our example information above, we have: Stock Price = ($3.00 + $105) / (1 + 0.08) = $108.00 / 1.08 = $100 Some of you may recognize this stock price calculation as the beginnings of a discounted cash flow formula. Essentially, the price of a stock is the cash flows gained by the stockholder divided by the discount rate or market capitalization rate. Discounted Cash Flows and Stock Pricing The stock prices we just calculated are really just short term values - a one year horizon. But let's think about the value of a stock over a nearly infinite timeline. Let's say a stockholder plans to sell their stock in 100 years. In this example the value of the stock would be all of the dividends received each year plus the capital gain of the stock in 100 years. We know from our prior example that the investor's expected return was 8.0% and the growth rate of the stock was 5.0%. In 100 years the stock's price would be: $100 x (1.05)^100 = $13,150.13 If we discount this by the expected return, or discount rate, we find: $13,150.13 / (1.08)^100 = $13,150.13 / 2,119.76 = $5.98 What this tells us is that the current price of a stock has very little to do with the future price of the stock. The net present value of the stock's price in 100 years is only $5.98! We could run through all the calculations, but $94.02 ($100.00 - $5.98) of the stock's price is derived from the present value of the dividend received each year. In fact, when taken to an infinite ti