Member Info for Gavster-NBC

Nope.. I'm a passenger now. Evraz represents about 8% of my total portfolio worth with an average of 76p.
I went for it and over-sliced at 578. I've lost out some growth but at least I had conviction.

My 333p is very doubtful unless the market bows down to amazing results and stands up to the face of so much anti-fossil fuel sentiment today and onwards.
I thought Darren had a 294 guess.. ? He's the only one that got it right.

Wow. Only a week or two ago. Can't believe I ummed and ahhed at 1450, wanting 1420 to grab the dividend. Ended up investing in other shares on my watch at the time. None have done as well as POLY. Well done. I'll keep on watch but after the results, feel like I've missed the boat.

"One anticipates a nice slow paced rise from here to above £1"
No chance. One thing we now know for sure is that they'll be issuing more shares to their mates at knock off prices, bringing that potential growth down and down.

"As at 31 March 2021, the Company had a cash balance of £17.45 million and has £15.53 million of its loan facility available to draw up to the maximum 35% Loan to NAV at drawdown. "

Income earned for the period : 2.30p per share
Expenses and net finance costs for the period : (1.20)p
Interim dividend paid : (2.00)
Loss for the quarter due to covering the 2p dividend = 0.90p, or £1.42m

So in answer to "How much left in the tank ?"
Plenty.

Happy with this. Just bought during the last quarter so this is my first dividend.

Thanks Arsenal58. Decided to sell and take the profit. If the market had not crashed yesterday by 2% I may have held through. Cheers and GL.

Fully funded, but wasn't that slowly happening anyway ? All our income was going towards capex, and just the last quarter alone raised half a million dollars.
I cannot be the only shareholder annoyed with the blatantly greed driven and seemingly pointless amount of devaluing our shares are about to be dealt. A potential market cap of £100m used to mean a potential SP of 215p, now it will mean less than half of that. Was it even worth it to get rid of that potential growth when the capex could have been raised in a couple of years anyway, and then dilute at 50p to 100p to get the capex over the line, not 20p (basically the lowest share prices ever for GAL, blasting and CV19 crisis aside).

The company is about the raise the number of shares to around 100m from 46m currently.
The last fundraiser was already done at a crazy low price 50p equivalent, diluting shareholders.
At 20p our market cap will be 20m.

Going by The Mining Plan :
https://www.galantas.com/operations/2014-resource-assessment/
https://www.galantas.com/assets/Uploads/92d7d9741c/July-FINAL-GAL-43-101-PERC-2014v9.pdf

OPERATING CASH FLOW AT AN AVERAGE GOLD PRICE OF UK£750 PER OUNCE, production of UK£394 per ounce Over 6 years : £33,331,706 works out as production of 93600 oz.
Updating with reasonable estimate, Gold prices of £1200 costs of £450 per ounce
Means new estimate of returns is £70m - As an MC that's only a potential SP of 70p (old 7p).
Assuming there will exploration and the LOM extended to 10 years or more.
Year 3 to 5 show the most generated cash. With gold prices of £1200 instead of the £800
Quoted then a reasonable estimate of £20m for the year, with 50% returning to shareholders could mean an MC of 100m to 150m and an SP in the region of 100p to 150p
Basically, over a pound a share with the (now faint) prospect of dividends as well.

So can we see what the plan is, the old fashioned AIM mining share, rinse & repeat?
II's can buy loads of shares at 20p and sell them at 40p whilst the new CEO sells the story, the volume increases, the rampers arrive.
All well and good to be funded, but the reason for retailers and the herd to buy GAL shares has just been kicked in the teeth. IMO shareholder value could have been maintained.

I will look to sell all my holding in the coming spikes.
The kind of attitude shown in companies tends to stick, leopards do not change their spots.

Hi Gary.
The dividend per share will increase with a buy back due to there being less shares.
Buyback when cheap, keep them cheap for buyback, I'm sure there is some circular reasoning in that..
Alternatively to keep green commitments they could for example buy out the green part of SSE or Bluefield but do it with shares meaning it's best to have the SP high as possible.
If the endgame plan is to have 10% less shares then this would have cost them £6 billion at todays prices, and held the SP down purposely in order to do so. That same money would also mean around 30p per share in dividends, do that in dividends over two years would be worth 250p on top of the current share price, taking us up to 550p.
For me there has to be more compelling reasons that we are not been told of to keep the SP low., than just the buyback.
Large institutional buying would be one, then suddenly the strategy looks too "AIM share".

That's the indifference of buybacks shown by the market. The jury is always split on them.
Yes, it's good to mop up the sellers shares and bring down the number of shares, but nothing drives the SP like a commitment to raising the dividend.
Raising it from just 5 cents to 7 cents, which is well within their capacity would rocket the SP.
So if it's that easy then as holders and PI's we know there must be many other things at play, so patience is required.
What's a year or two to wait if you have a large amount of shares, that will bring you a 10% yield by then or a nice lump sum once the Sp is back to 500s.
I'm still sticking to a price of 333p leading up to or once these results are digested.

Longtimeinvestor
The lemmings I refer to in this instance were those raising the price, all buying due to broker recommends and directors deal news. Allowing me to cash out and take profits on Friday, earlier than expected. The director deals and the broker recommends do nothing to cover the sins of BOD regards needlessly driving the value of the company down by many billions, especially when given the perfect opportunity to raise the worth of the company by billions. It's elementary that to fund takeovers and/or growth of a company it needs a high powered valuation. Instead they chose to keep the debt and line their pockets. Simple stuff showing that the BOD are not acting in the company or shareholders best interests regarding value.
Good luck with your Tesco investment.

End of day was great. Took advantage of the lemming investors buying after the director deals and sold half my holdings at 231, much earlier than I could have hoped.
As a defensive stock through the pandemic Tesco was OK.
Going into recovery, the sins of the BOD have been laid bare and maybe the 6p divi and prospect of 20% growth might take this to 240 plus before ex-div at which point I'll sell the rest.
Cheers all and GL.

Hi Eccles. Ex-Dividend is next week, with around a 4.5% impact.
So for a trade I bought DLG at 307 sold at 321 before ex-div, SBR bought at 258, looking to sell late 260s or higher.
That's the plan, but in case it goes sideways, I'll hold through or sell and buy back DLG around 301/302. TBH Don't mind being mid to long in either as economy grinds back into motion.

Numbers out in my last post due to the share consolidation but the point remains exactly the same.
The debt could have been paid down, the dividend raised and the share price could easily be in the 300s. .

Absolutely correct Spindler.
The BOD are the epitome of "Snouts in the trough".
The company pay's around 900m a year in dividends.
Instead of the special dividend which the BOD can now spend on jetting to their Barbados villas, the debt could have been paid down and the dividend raised to 1.5 billion (15p a share per year) guaranteed minimum for the next 3 years for example.
With a dividend of 15p a share, the share price would most definitely be at around 300p.
Happy shareholders, happy company, darling of the FTSE.
Instead, Tescos has been turned into a dog by those same directors.
As I said, I'm out before ex-div.

Yep.. kicking myself. Only had to wait two weeks..
Glad it was a top slice rather than selling completely though. Not sure what price I'd sell my holdings at but meantime i'l let these div's reinvest and see what happens.

Hi Gareth, I pumped my original stake back into an energy share and actually made a bigger % rise last few of days than EVR. It did made me feel better about my decision to slice at the wrong time, but now this extra divi will surely put me behind again. I think sub 600 is probably history now but I will still keep a close eye and ready to re-invest just in case.

Nice !!

EVRAZ plc (LSE: EVR; "EVRAZ" or the "Group") today has announced an interim dividend.
On 15 April 2021, the Board of Directors voted to disburse a total of US$291.7 million, or US$0.20 per share.
The record date is 28 May 2021 and payment date is 25 June 2021.

With every dividend, special or normal the value of the Tescos goes down with it.
It is exactly correct someone stated that the board acted in their own interest and not the company's, no dividend reinvestment from the BOD.
I still think it was right to pay back the tax relief.
The decision to only match last year's dividend in pence per share is shockingly poor considering the Asia sale.
The special dividend has not done all it could have done for the company, so why would people invest in Tesco if they are not going to fully invest in themselves ?
I'll be out day before ex-dividend, that's if there is even a rise towards it.
Better companies and yields to invest in elsewhere.
All IMO

Exactly The-Lockie
At least the SP has poked it's nose above 1350..
IMO This will get back to what we think of as normal levels as soon as the pandemic eases properly, just a few months.

Can any long term holder explain why selling so many shares just before the company is about to go ex-div is in any way a responsible way to act by a director ?
I'm guessing it is some sort of bonus deal, as under normal circumstance this would spank the SP.