Firering Strategic Minerals: From explorer to producer. Watch the video here.
I have also wondered about shift patterns and previous spare capacity.
What I will be looking for when the interim results are posted (says Nov in the annual report but no specific date this time) along with a trading update hopefully is something in the update pointing to the increase in earnings and cash generation alluded to in the post yr end financial info of the annual report.
Whether we are heavily (and I think we are) involved in Covid work or not there must be a hell of a shortage of capacity because of it, one way or another we are in the right place at the right time in my opinion.
I forgot to add in the Covid delays when I said an update was due early October....
Had consider exactly that Wigwammer.
Plus, with the job completed £8k plus a week savings are not to be scoffed at.
Notice period = 1 months pay. The decision will have been made by the board including the CEO.
Jmo
Don't forget to scroll down. Lots of detail after accts.
Raised £6.632 million. by an exccelerated bookbuild at £1.20p per share to complete the purchase of Precision Tool and Moulding INC.
Why they need a cash call presently. They have just sorted banking for the next 3 years and at the same time the pension contributions.
Let's get a year or so under our belts and if growth dictates a requirement for cash at that time, it would be well supported.
Clearly, if some unprecedented contracts came along earlier, it may need to be addressed.
The management know the figures, why go for cash now when your share price could be a multiple in 12 months time. Jmo and ramblings.....
Wigwammer, looking back a few years when Carclo were trading normally (no bids, no wipac issues /sale) a trading update was provided early to mid Oct after the half year end 30th September.
I recon our new management will want to get back to that normal pattern of announcements.
With management time now free from sorting finance and pensions they will at least able to concentrate on the manufacturing side.
On a separate point. I wonder if any of our manufacturing plants are working a night shift?
I doubt the AGM will bring any news, but one never knows.
There should be an update early October though, Wednesday is the end of the 1st half.
Jmo
I don't usually comment on my odd trades but Barclays wouldn't complete my quote and deal purchases later this afternoon.
Update October.
Half year results early November.
We have the AGM shortly followed in early October by a trading update, then we have the half year results sometime early October.
I read Wigwammers post earlier today re, Cytiva expanding their capacity. They will be looking no doubt. When considering what and where to invest they will surely look for the cheapest and fastest. Which may be to acquire the extra capacity required. Interesting times indeed. Jmo. No advice intended
An un educated guess at where the share price could be.....lots of holes as per usual.
say, turnover remains the same. Some parts up others down. That give us £110. Million.
Perhaps without the exceptionals and some cheap funding we can make £10million out of that.
We are in a racy industry just now and its anybodies guess what multiple we could command on a buyout but let's take a relatively modest 15 times. That give us a market cap of £150million.
Our pension deficit can be measured in a number of ways some as high as £90million and some as low as £30 million. I'm using £50 million. That brings our value down to £100 million. Now remove debt say £30million. That leaves us at ££70million.
We have say 74 million shares. That equates to 94.5p per share. Lots not taken into accounts some will balance some not but at least we have an idea.... no advice intended.
Perhaps a number of orders from different organisations, none singinally adding up more than 10% of t/o. No RNS would then be required.
The words significant, material and positive sound good to me. Jmo
interesting comments from our chief accountant in the annual report.
Quote: (as near as poss)
The base case financial projection was produced taking into account the anticipated effect of the ongoing COVID-19 pandemic using the experience of the groups performance in the 1st quarter of the 20/21 financial year.
The forecast also takes into account the impact of the SIGNIFICANT NEW TOOLING ORDERS SECURED AFTER THE BALANCE SHEET DATE IN THE MEDICAL DIAGNOSTIC SECTOR WHICH ARE EXPECTED TO HAVE A MATERIAL POSITIVE IMPACT ON EARNINGS AND CASH GENERATION OVER THE NEXT 12 MONTHS AND FUTURE YEARS AS THE COMPANY MOVES INTO FOLLOW-ON-VOLUME PRODUCTION. End quote. Door. Not advice to buy.
By reduction in exceptionals 're banking.
Until 2023.
Our performance is ahead of companies projections earlier in the year.
The company has been priced to go bust for the past years or so. That is now not going to happen. Not only are we surviving this tumultuous period we are actually winning new business. The company can now move ahead. Yes the pension funding is a bit higher but remember the payment is before tax. We are doing better than expected in the Aero business also. Our results for the period to March 20 will provide more visability, they will be published in just over a week. All this and a market cap of 6million.... come on CARCLO. Jmo
The company has until 30th September to publish the results to 30 Mar 20.
The FCA increased the period from 4 months to 6 months from period end due to the Covid impact on accountants etc.
Maybe we will get some info before that. Certainly hope so.
Check out their web site. CARCLO medical plastics. Also have a peek at the update from mar/April.
I reckon we will get news /update at the end of the month. FCA has told companies to delay results to ease pressure on system. I think the end of the month will see our delayed results published and more importantly an update including Covid 19 activity.
Funny this am trading 3 trades gone through at time of writing all at over 7.8p. And the one trade at 6p (1st of the day) is the only one showing. Been happening for a while. Is this an attempt to unsettle holders...jmo
Am I the only one....new management, massive opportunity and cheap funding .
Below copied from Los Angeles times today.
Although the scientific race to develop a vaccine gets the most public attention, the massive orders for syringes illustrate how many less-glamorous steps the government needs to get right in order to carry out a vaccination campaign.
After the nationwide scramble for ventilators and personal protective equipment earlier this year, healthcare professionals, supply chain experts and government officials warned that the next critical shortage could be syringes, needles and other equipment needed to administer a COVID-19 vaccine to about 320 million Americans.
Vaccinating that many people could mean the U.S. would need up to 850 million syringes in 2021 to cover an expected COVID-19 vaccine — which could require two doses — plus the usual annual demand for syringes used for flu shots, insulin and other treatments. Under pre-pandemic capacity, that could take two years to produce
US Preps For ‘COVID-19 Mass Vaccination’ With $110 Million Spent On Needles And Syringes
Thomas Brewster
Thomas BrewsterForbes Staff
Cybersecurity
Associate editor at Forbes, covering cybercrime, privacy, security and surveillance.
America spends $100 million on coronavirus needles and syringes.
COVID-19 vaccines are in development, but to meet the demand of over 300 million doses, the ... [+] IGOR GOLOVNIOV/SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES
The U.S. government is getting its vaccine supplies ready in anticipation of a working cure. Two separate orders signed off on May 1, 2020, total $100 million and specify needles and syringes “for a COVID-19 Mass Vaccination Campaign.”
One $27.5 million order went to Colorado-based Marathon Medical, the other $83.7 million to Texan business Retractable Technologies. The orders were placed by the Health and Human Services (HHS) department’s Office of the Assistant Secretary for Preparedness and Response (ASPR).
The orders come as a raft of different vaccines are under development and testing. The U.S. government has backed a handful, including a $450 million deal with Johnson & Johnson arm Janssen Pharmaceutical for its COVID-19 cure. That vaccine could be ready by early 2021.
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Oxford University’s vaccine could be given to millions of people even earlier. AstraZeneca’s chief executive, Pascal Soriot, suggested toward the end of last week that the cure could be ready for a limited rollout before the close of 2020. That would be a remarkable turnaround, given that vaccine testing and release can take over a decade.
It’s unclear just how many needles and syringes have been ordered. It’s estimated as many as 300 million will need to be inoculated in the U.S., but a report in the New York Times last week cited industry sources expressing concern about America’s urgency to produce the myriad parts required to deliver the medicine.
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HHS announced at the end of March it was working with Janssen and Massachusetts-based Moderna on fast-tracking vaccine production. HHS said it would “accelerate advanced clinical trials, regulatory support and large-scale manufacturing to produce up to 300 million doses of vaccine in the United States each year.”
Neither HHS nor the manufacturers had responded to requests for more details on how many needles and syringes were being produced.
But the latest orders should go some way to alleviating concerns about preparedness to deliver vaccines to Americans.
Ful