Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
This is welcome news and confirms the coherent thinking behind MHC direction of travel. However, it needs to have a good run upwards over quite some time so I can recover from my poor entry timing.
Chief - good morning. I concur with your reading.
"The further studies are expected to take an additional three to four months, and would run from November 2023 through to Q1 2024. Any additional benefits identified from these studies would enable Croda/Sederma to add to the commercial opportunity for SkinBiotix as an active ingredient and could lead to enhanced claims and therefore a higher price point in market. Any licensed products resulting from the agreement with SkinBioTherapeutics will be sold to Croda's global portfolio of Personal Care customers. SkinBioTherapeutics will be paid tiered royalties based on global sales revenues on any licensed products derived from the partnership."
Croda must be confident there is someting extra in there to allow higher market prices of the final products, but the extra time will kick the income stream down the road. But we will benefit from market expectation of higher income before that, and there is plenty of other potential from the other parts of the portfolio to support and grow the sp in the rest of 2023-24.
It is more interesting than I had expected (!) - I clearly need to get out more. This session of the Forum is approx 30 mins long and useful background for all us Bulletin Board warriors. The takeaways for me were:
1. Brian Hosking and two other speakers were agreed (approx 9hrs 25 onwards) that the development of the Saudi stockmarket to create places for Junior miners would unlock an awful lot of cash to support those enterprises. Of course it is for the SA stock exchange gurus, not the Juniors themselves, to make it happen.
2. There were plenty of references to the long timescales (decades) involved in the whole mining chain anywhere in the world and therefore the long time to make returns.
3. They were fulsome in their praise for the shareholders who are currently paying for the exploration! Well done us!
4. The Saudi enthusiasm for exploring mineral extraction and the associated regulatory envelope was welcomed.
5. I also thought that Brian put in a strong showing and he seems both informed and passionate. Let's hope his aspirations are followed through.
Timing is everything. The Future Minerals Forum is being held in Riyadh this week and is hugely well attended by the miners with interests or aspirations in Middle East and North Africa. Crucially it is also kicked off at Ministerial level, so getting this - now quantifiable - nugget of good news into the open will have been a priority for Kefi. It will be noticed, it will be discussed, there will be speculation about what it means and where it leads. For example , it might be considered that it brings a SA listing 16% closer. Let's see.
https://english.newstracklive.com/ampnews/minister-hopes-to-secure-investment-from-international-companies-at-important-summit-sc18-nu355-ta355-1263971-1.html
If - surely when! - the TK funding comes in, there will be an awful lot of churn and the sp will certainly take some time to settle down as a true reflection of value and of prospects. (Those are not the same thing.) The churn will come from old investors who have held this down from 2.5 and are keen to finally exit with their trousers on. Also from recent investors who have been hoovering up at the 0.6-0.8 since last autumn and might therefore see a 2 or 3 fold gain to grab. And there will be brand new buyers who anticipate the same again when Saudi progress crystallises a similar surge later in 2023. So predicting how high the spike will go and the shape of the sp curve in the few weeks following is a mug’s game!
Chancellor has capped rent increases to 7% wef Apr 23 which is below inflation now but may not be by next spring. So not such a bad result. Further, SOHOs debt is largely fixed at 2.7% (Edison Research note) which is also pretty reasonable just now. Finally a dividend target of 5.6 pps giving a yield of 8% is one of the best I’ve found. Throw in potential for a share price recovery towards NAV and I am content to increase my holding.
Both timing and content of the next RNS are guaranteed to not be clearcut. First, the timing. We have already seen expectation mismanagement of what date: mid month or a specific date? Not surprising seeing how many cats have to be herded together. Even cats who want to go the same way take their own time and have their own peculiar requirements to satisfy.
Secondly , the content. I suggest it is highly unlikely the news will have the slam dunk clarity to allow the share price to zoom as high as we’d all like since each financial contributor will have their own riders on how much is released, when, under what preconditions etc. The Funding Agreement is only that - an agreement. It will, however, underpin a ‘slow burn zoom’ as we move into 2023.
Interim results last year were 31 March 2021. Probably similar this year, ie a few more weeks. I am as keen as you are to hear something reassuring - actually just to hear something!
That article is a good spot and certainly very true. Thank you. Also of interest that it the report is co-written with Accenture, yet the Insig tie up is with rivals PwC. I dount Insig will land its software in both the competing firms , but it does showcase the Holy Grail of measurable regulation of ESG, an area so susceptible to subjective whimsy and faddism.
Yes, I now concur with your assessment of the trades. Have not seen the software presentation though - is that easy to find? Thanks.
Seems unusual to have such a sharp drop this morning - anyone know of reasons or speculation as to why? The volumes are much more matched than reported since there are 2 buys of 50k and 25k which are clearly buys but not recorded as such yet.
Fabulous RNS today, not necessarily for any financial revelations but for the clear and direct language used. I may buy shares purely on the back of Tim Martin's leadership, and will certainly be back in my nearest 'Spoons at the first opportunity
Thanks slowlyslowly. I have also spotted, as many others have probably done much earlier, that Vin Murria bought £17.5m worth of ADVT shares on 23 March last year shortly after being made a NED and Deputy Chair of the Board of MC Saatchi on 3 Mar 21. And now ADVT/Saatchi has a substantial link up. I suggest these are the visible signs of some highly ambitious plans.
So why is the purchase of nearly 10% of M&C Saatchi a good investment for ADVT? And where has the cash to buy that stake come from?
Good to hear a convincing set of reasons for investing here set out by TW. Even if you are not a fan of his he has researched the situation and appears to have access to Steve O’Hara. A very positive upside spelled out too.
We think we have heard enough leaks to suggest very strong results from the trial data. We believe top leadership are astute enough to include in the RNS not just the results themselves but the ‘what next’ in terms of marketing and manufacture. That info will lead to a much better estimate of company valuation and hence share price. Any RNS released at 0700 one morning does not give much time to digest the implications fully before a frenzy (up or down) at the opening bell. I wonder if SA might prefer to put an RNS out at 1700 instead? And possibly on a Friday?
The spreads are indeed still v narrow which is healthy, but the volume today is still quite small (despite my best efforts!). So I feel this will take a combination of certified good news and demand before we see another notch upwards. However it sounds as though the demand can be seen on L2 for those who have it, and that the good news stories are building, so I am hopeful of a decent lurch up shortly.
Good news as far as I can see. Hopefully it will be swiftly effected.