Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
There is very little meaningful commentary on cash flow in comparison to the raft of less important information such as internal promotions, conferences attended and international women's day etc. Personally, that sort òf information smacks of window dressing and is not particularly relevant to an RNS?
HI AKASM
"this company employs over 40,000 people and makes minimal profit margin, making it a very good company in terms of making minimal profit margin relative to its revenue"
Why does minimal profit margin make Mobico a good company? Apologies if I have misunderstood your sentiment.
Great start to the day. Its unlikely we will finish the day at the current SP, but hey, you never know!
I've held ALL for just over three years - got in at 16p. I wasn't tempted to sell when we were touching 60p so I have no intention whatsoever of selling any on the back of this rise.
GLA - and thanks to all those who post the intelligent, civil comments that have helped me keep the faith (you know who you are!)
Thanks Lucky
I've been here a while and intend to hold - my target is 100p. However, today's drop is a surprise ............but I am taking the positive view that this is a buying opportunity and will add a few more.
I was with of group of institutional investors a few days ago - they all had very different views of the markets, sectors, thematics etc, but agreed that one of the main differences between IIs and PIs is that PIs rarely back their convictions by taking a medium to long term view ........and this is invariably a costly mistake.
Wondering if you guys had a view on this article - BBC news earlier today:
“The mining of battery-grade lithium carbonate - a key component in electric cars - has been announced in Cornwall.
The joint venture between china clay company Imerys and British Lithium aims to operate the UK's "leading lithium hub" within five years.
Their target is to supply 500,000 electric cars with the component per year by the end of the decade.
The development, in the St Austell area, could potentially create at least 300 direct jobs, the companies said.
It is estimated that there are enough resources that the life of a mine could exceed 30 years and produce 20,000 tonnes of lithium carbonate equivalent per year.
This would meet roughly two-thirds of Britain's estimated battery demand by 2030.
A spokesperson said drilling and exploration had been carried out since 2017 and a process and pilot plant had been developed.”
Hi cr888
Genuine question - what are your thoughts on what is/is not happening with poly shares today?
I repeat - genuine question
Apologies sundezena - the repetition was a mistake (I have no idea how that happened!).
I also hold Diageo . They put out a positive half year report earlier today and their SP has followed a similar trajectory to Fevr.
I have added to Diageo but not to Fevr, mainly because of the negativity around future energy and glass costs. I would have expected some sort of assurance that these costs were now subject to a hedging strategy or that there was a high degree of certainty certainty for the remainder of they year?
GLA
Whilst the numbers were fine, there were negative undertones in the text - something that will worried some investors.
For example - “the widespread industrial action undertaken across the UK rail network in the run up to Christmas had a notable impact on sales in what is traditionally a very strong trading period”. Personally, I find this a weak explanation - I haven't read anywhere else about other companies citing this as having a material impact on trading?
Also – “· However, the impact of elevated European energy costs into glass bottle pricing will be material in 2023. Whilst energy pricing has recently reduced, it remains volatile and at least three times higher than 2021 levels, impacting both the cost of raw materials and the direct energy cost in glass manufacture. As a glass-led business, with c.80% of our sales mix in glass bottles, we are particularly exposed to this significant headwind.”
I read this as getting in an early defence for what may be an downbeat update later this year?
I remain optimistic, primarily because of progress in North America. Hopefully, the BOD will engage someone more experienced to pen the words for the next business update!
GLA
Also – “· However, the impact of elevated European energy costs into glass bottle pricing will be material in 2023. Whilst energy pricing has recently reduced, it remains volatile and at least three times higher than 2021 levels, impacting both the cost of raw materials and the direct energy cost in glass manufacture.
· As a glass-led business, with c.80% of our sales mix in glass bottles, we are particularly exposed to this significant headwind.”
Toneman - agree 100% with your Linde suspicions. I don't usually ascribe to buyout theories but on this occassion I suspect there is a lot going on behind the scenes. ITM is certainly not going bust but neither can if afford to be simply drifting aimlessly in what is likely to be (hopefully) a fast moving market.
October’s trading update was put out under Cooley’s tenure. He will undoubtedly have had a big say in the wording so as to play down the issues that he was ultimately accountable for. Even so, it made for a very uncomfortable read.
Fast forward a month, Cooley has gone and his replacement is in post. As such, the new CEO will be focused on finding out the full extent of the issues, hence the deferral of the December update. The new CEO will now surface every last bit of bad news, even exaggerating it, because he can justifiably lay the blame at the feet of his predecessor. This will enable the new CEO to start from the lowest point possible and claim future any improvements. In other words, he will ‘kitchen sink’ the extent of ITM’s problems in the next update. The advantages to him are obvious. It will also weaken the company and the share price. Who knows, perhaps that is his strategy, given his Linde connection. Whatever the case, I can only see the SP going a lot lower over the next 4-6 weeks - unless of course there is significant progress in securing some meaty sized orders.
I have sold my holding with the intention of buying back in following what I believe will be a significant drop in the SP when the next trading update is released.
Any thoughts?
Company directors and senior management have access to information that outsiders will not have. I don't think anyone would dispute that. So, any director sells are a bad sign and a clear indication that that they don't anticipate a takeover offer.
And forget all this nonsense sometimes posted on share chat sites about " directors selling to pay a tax bill or buy a house etc..". These types of people will have access to funds from many sources. The impact upon the SP from a takeover offer would dwarf the relative punitive costs of a loan. So, there is no logical explanation for a director selling shares if there is a remote chance of a takeover offer or an anticipated rally in the SP anytime soon.
I sincerely hope this is not the case for Dark, but it would be foolish to ignore.
On a brighter note, the IT department at my company rate Dark very highly.
GLA
Yawn..........Same old song from Charles:
So long sad times
Go long bad times
We are rid of you at last
Howdy *** times
Cloudy gray times
You are now a thing of the past
Happy days are here again
The skies above Poly and Dark are clear again
So let's sing a song of cheer again
Happy days are here again
Hi Bonkers0801 - I couldn't agree more with your comments.
That said, some posters do provide genuine and logical views. These are not only informative but also test one's own knowledge, beliefs and instincts etc... which is no bad thing.
I make a note of the individual contributors who provide well reasoned arguments and try to use their views in a constructive way. I also make use of the filter for the obvious rampers / derampers and those who provide multiple daily posts!
GLA
I think we have to keep this drop in perspective . The SP has increased 30% over the last 12 months........then .throw in a tasty dividend..............only wish the rest of my portfolio had performed as well as this!
Even so, complacency can be costly in this game, so today's drop should not be ignored. However, until I read or learn of something to the contrary, I still think this is one of my least riskier holdings in the current environment.
GLA
Hopefully, ITM will have some involvement in this:
https://www.constructionenquirer.com/2022/11/01/insulation-giant-looks-to-power-factory-with-hydrogen/
Regarding the earlier post regarding trust in the Board. This probably gets right to the heart of this drop in the SP. Yesterday's Trading Update was bleak to say the least. Now, in my experience, a lot of thought goes into these types of announcements - the words and sentences are very carefully chosen and constructed to either 'big up' the positives or 'play down' the negatives. So, if we remove some of the ambiguous words, we will probably get closer to the truth. For example - “may result in a revision to EBITDA loss guidance” almost certainly means “WILL result in a revision to EBITDA loss guidance”
Similarly, “the Company expects there may be delays in finalising contracts in the final stages of negotiation which could place large scale projects at risk of deferred financial close” actually means “the Company expects there WILL be delays in finalising contracts in the final stages of negotiation which WILL place large scale projects at risk of deferred financial close”
I don't think (hope!) all is lost just yet, but ITM clearly need stronger leaders who have more business acumen than the incumbents. At the moment, there appears to be a lack of urgency in turning a great concept into a commercially successful product. Could this derive from a false sense security from sitting on so much cash? My fear is that the current Board members are milking an easy living until the cash dwindles away and will then disappear.
I am sure many others like myself would appreciate some sort of assurance that this isn't the case.
Hi Trotsky - I suspect the earlier post that referenced "ward off further tax hits from the UK government" was in relation to a potential one off 'windfall tax' being applied by the government in addition to the usual tax regime?
Agree 100% SS
Many of us have focused more on the wider hydrogen sector than actually researching the company and scrutinising the simple facts (valuation, sales, firm orders etc). I think we entered the right race but chose a donkey instead of a racehorse.
Extract from Veil's monthly update of 21/10/22:
"So far, October has also seen increased volatility in the market following the arrests of the chairwoman and three executives of a large property developer with extensive holdings in central Ho Chi Minh City. In a move that may be related, the State Bank of Vietnam took a local bank into care. Both the developer and the bank are unlisted, and VEIL has never held a position in either company. The arrests grew out of the bond-market intervention which the Government launched in March, whereby it has focused a lens on insider trading, private placements, regulator capacity, and now investor protection. The Investment Manager believes investors will ultimately benefit from the campaign for transparency, institutionalisation and professionalism, by ushering in the next phase of the market's development."
As a small investor in ITM, I am very interested in the various views being expressed. Thank you to all contributors. However, we seem to be discussing two different subjects i.e. the long term future of the hydrogen sector and the growth prospects for ITM.
Personally, I think hydrogen has a very significant part to play in achieving energy and carbon reduction targets. I am far less confident about ITM becoming a significant player, primarily because the company itself doesn't appear to have much confidence in its ability to penetrate the market, as per last month's announcement - " ‘We are amending our ambitions for the timing of our target to have 5 GW of production capacity. We have also reviewed our plans to open a second UK factory at Aviation Park, given the current business climate and cost escalation’.
It added: ‘We believe in the near-term that extending the total capacity at Bessemer Park up to 1.5 GW is a better use of capital."
Given the time it takes to bring a new factory online and resource it with the appropriate skills, its clear that ITM does not think it will achieve significant growth over the next three years or so. Something that will surely be reflected in the direction of the share price?
I have made an amateur error of becoming too attached to this share. I am trying to see the positives..............what am I missing? All views greatly appreciated as always.
GLA