Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Petrobull read the report correctly, see below:
'On 8 February 2022, FPM received a tax audit report, which claims the underpayment of iron ore royalty payments during the period from April 2017 to June 2021 in the amount of approximately UAH1,042 million (approximately US$35,618 thousand as at 30 June 2022). The Group provided its objections to the claims made in the tax audit report and it is expected that this case will ultimately be heard by the courts in Ukraine in due course. Due to the current situation in Ukraine, it is unknown when a first hearing will take place in respect of the claim received and how the aforementioned investigation is going to further develop. '
I think exactly the same, they were pushed to offload.
Strange to compare oil and gold.
TeddyWally81 - Have you looked at Card Factory latest accounts? Hefty debt? As far as I remember Net Debt (exclude lease liabilities) was £96.5m. Are you expecting the company has no debt at all? They managed to reduce the debt position considerably during lockdown. I can't see the debt is the major problem at the moment (as long as no more lockdowns).
For me, the biggest question is Gross Margin. As long as Card Factory can achieve Gross Margin for the year above 31% the share price will have positive movement.
In the past, Card Factory preferred to pay dividends rather than considerably reduce the debt. It looks like new management is keen to reduce the outstanding debt as much as possible.
What amount of debt (excluding lease liabilities) is feasible for Card Factory in the future?
I am not sure if anyone noticed but deferrals decreased by almost 50% since May 2021.
21st of May Update :
'As at 16 May 2021, net debt amounted to £110m (excluding deferrals of approximately £40m, substantially agreed with stakeholders).'
Half-Year accounts:
'There was a reduction in deferrals in the period to £32.7m, comprising £7.25m VAT and £25.5m net property arrears on a legal obligation basis at 31 July 2021, (31 January 2021: £40.0m comprising £19.0m and £21.0m respectively).'
November Update:
'Net debt, which is typically at its annual high due to stock purchase in advance of the Christmas season, as at 31 October 2021 was £108.4 million (excluding £20.8 million of deferred rents and VAT), compared to net debt of £142.5 million (excluding £13.2 million of deferred rents and VAT) on 31 October 2020.'
Strange comparison Cineworld and Card Factory. It has almost nothing in common.
Market knows that the loss will be 10 millions(before tax) as per January update. However, it's 2021 outlook that is important, especially revenue and debt.
For the LTH who are still holding:
I checked analysis of the reviews on Trustpilot website and I can see the considerable changes. Reviews went massively up in the last 4 months and it looks Card Factory website is popular.
Last year April 2020 total 12 reviews, May 2020 - 29 reviews and the majority of them are bad.
February 2021 - total 1443 reviews (78.5% - Excellent or Good / 12.4% Poor or bad).
March 2021 so far - 782 reviews (81% - Excellent or Good / 10.5 Poor or Bad).
Website had a few good promotions recently, like spend £20+ and have free 2nd class delivery, 3 for 2 on certain cards, etc.
Unfortunately for the shorters, I am not selling but I am actually buying more today (increasing my average). And if it drops more, I will be buying more. It looks very suspicious that JEFFERIES put their rating at 21p yesterday and suddenly 2 days of big drop . Somebody wants this share cheaply.
CARD has partnership with Aldi and Matalan. Card factory customers are price sensitive. Moonpig items are too expensive. If you check Card Factory app reviews you will see that some Moonpig customers are moving to CARD.
What update are you expecting? You had update on 26th of February. Negotiation with the banks is ongoing. CEO started 2.5 days ago. He hardly had enough time to make any decisions. The staff in the stores are furloughed. A lot of Mother's Day gift items are sold out online. Non-essential retailers are expecting to be open on Monday 15th of March in Wales.