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Dennis shows as ceased if you care to look properly ie it has been updated so why have the others not been updated. Also where do you get 98%, basic maths, to paraphrase you must be smarter than that . No one has yet provided me with conclusive evidence that the family, which is wider than the concert party, own less than 50% . Till such time that I see something I can rely on I will sit and wait. Generally I find your responses unnecessarily aggressive to those who hold differing viewpoints and can only assume you have way too much skin in the game, so good luck with that!!! No need to reply as I won’t be visiting this chat forum again
Link as requested
https://find-and-update.company-information.service.gov.uk/company/10742540/persons-with-significant-control
Despite what you think I would be happy to be proved wrong
Not everyone who posts on here has a mischievous motive. Like I said earlier I have a small shareholding with a 70% paper loss and would be interested to buy more of what on paper look like, bargain shares. Until, however, someone can provide some evidence that is contrary to the very clear information on the companies house site, information which is provided by the company themselves, then I am not inclined to purchase any shares. And neither , it would appear form the share price, is anyone else. I wouldn’t place reliance on the RNS to which you refer for the reason that I expressed in my previous post ie the concert party is not necessarily representative of all the poddar stakeholders.
Who is defined on the circular as the concert party. Is it not conceivable that a poddar family member is the concert party whilst other family members not directly employed and not executive directors own at least 25% of the balance of shares akin to how any other shareholder holds shares without being defined as being the concert party. Either companies house has their information , which is supplied by the company who need to file a register of shareholders incorrect or they do indeed have more than 50% of the voting rights. Can anyone get access to the register of shareholders , that would be the definitive piece of information.
Then why does companies house clearly state that two poddars have more than 25% voting rights each, meaning between them they have more than 50%. If you have evidence to the contrary please let me know where to find it . If they have less than 49% then clearly they can’t take it private but until I see something in black and white then I am more inclined to believe the information filed at companies house.
Main reason to list is access to capital from equity placings. The family that owns the company got significant capital upon floating but still maintained 51% and control of the company. The Recent issue again was predominantly allocated to the family and a check with companies house shows that at least 51% is still owned by the company. So why stay listed, clearly they don’t wish to raise capital through a public issue of equity otherwise they would have done and got a lot more than the £1m they raised themselves. Question then is why not take it private , what’s to stop them and what reason is there for them to remain listed. I am a very small investors of 5000 shares with a 70% book loss but it’s small beer in the grand scheme of things so I’m not overly concerned but I am thinking of buying at the prices . What’s stopping me is the thought that there seems little reason for the owners to stay listed.
Cash flow broadly neutral after interest and capex and so the debt pile won’t reduce anytime time soon. Investors generally very wary of any getting involved in a business with large debt currently. Upshot, the SP won’t be recovering until they start to earn sufficient cash headroom to repay debt, not to mention paying a dividend. Long term hold and patience required here but the fundamentals are sound enough for a company seeking to grow an infrastructure business.
What’s that chicken licken? The sky has fallen in on AWE and it’s going bust? But chicken licken, the company has just reported growth in turnover , positive cash flow from operating activities and an actual profit so what’s not to like? Oh, the auditors need more time because of the complexity of the audit arising from the mergers. But that’s not unusual chicken licken, it’s very common that audits often take longer than anticipated if the accounts are complex or there have been significant structural changes to the company. Oh I see chicken licken, you are short on the stock and have just ignored to facts to deramp the stock. Well, chicken licken on behalf of all investors I do hope the sky falls in on you one day.
Given the current SP I was musing about investing some more but perhaps before I do someone would be good enough to tell me why with a current 12kmt capacity they only managed to produce less than 2kmt in the first half of the year. It strikes me that it’s all well and good getting to a 84kmt capacity but pointless if the actual volumes produced are a fraction of that. If there is capacity and most important demand then why are the ACTUAL sales not reflecting this?
Agree that it is a v solid set of results but the Naira is widely expected to devalue by 20% post the upcoming election. Using the rns guidance this would lead to declines in revenue of c400m , ebitda of c220m and additional finance costs of c160m. There is the reason for the drop. African politics seems incapable of change and so these risks will always be present. That said longer term the potential from the mobile money services in Nigeria is huge, the government is making it their mission to have a cashless economy .
Spot on ggrantsu, it is a provision which may or may not come to fruition depending on the position of the hedge at the maturity date, which ain’t tomorrow … regardless it is not exactly an item that undermines the otherwise very strong fundamentals of the company , more concerned about the vanity and ego of a chairman who thinks a wannabe muscleman pic is a reassuring look for investors, especially for a chair who has had dealings with boohoo and THG, hardly SP success stories over the last year.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha, thanks , I needed that been a tough week.
The cash flow isn’t on its own an indicator of liquidity, the net current assets figure is a better guide being the notional cash position if all debtors and creditors due within 12 months are realised. This has decreased by 3m to 14m in the six months ytd . It is clear where this 3m has gone as the deferred exploration costs have increased by 4m which is why the overall net assets have increased. That is fine provided those def exp costs ultimately result in future revenue streams otherwise it is simply a waste of cash . The issue to me is why the net cash flow from op activities has decreased by 9m cf teh first 6 months of last year. Part of the is the movement in working capital which accounts for 3m but that still leaves a shortfall of 6m. This is entirely to do with the increase in the AISC from 1429 last year to 1716 this. Some will be as a result of increase in energy etc but most is to with wasted , random drilling that has not yielded any return and which costs can not be capitalised as an asset . In a word mismanagement . If the annual 12 months cash inflow is going to be c 6m for teh foreseeable future then how are they going to fund the 24m for coringa development? There is no easy answer , I am not one of those annoying juvenile posters who post negative ignorantly formed rubbish but to me this is a big concern. I am sure it will continue to exist but difficult to see how they can develop coringa anytime soon with an equity raise.
Don’t post often but I’ve noticed it is always the same, quick drop in share price and so many people come out of the woodwork, get on the bus and post doom n gloom messages , no where to be seen when the SP was recovering. These people have no interest in the share either short or long just live sad little lives with nothing better to do and frankly best ignored. This board is a joke with way too many financially uneducated, ill informed and ignorant posters.
Simple question, what is the % contribution from rhodium sales to the overall gross revenue of the company? Been looking but can’t find this anywhere except read somewhere that a year ago the combined contribution of rhodium and palladium was 72%. Some Forecast prices for rhodium are double in 12mnths so clearly this would have a big impact on revenue if the % contribution was significant.
I have to say there are some very forgiving investors on this board. Large drop in production due to logistics and over estimates of grades, significant cash burn of at least 3.5m in one quarter despite high gold prices and still no approval on the licence for coringa . I own two gold mining shares, one is expertly managed and increasing production and profit from well planned and executed developments, the other is SRB…. **** up and brewery spring to mind….
Some of these comments are remarkable , “new clients have only grown 5%”, a net increase from 1385 to 1634 is not 5%, it is c18% or take 528 new clients as a % of the 2021 total of 1385 it’s c40%. Is the co growing , yes, does it make net cash inflows, yes, does it make a profit, yes, is the profit margin stable (including additional hires) , yes, is it debt free, yes, does it issue a dividend , yes. So the forecast revenue of c£36m was short by 5% , anyone who has managed a multi million pound business will know business forecasting was made to make weathermen look good. The whole of the underlying financial story is the headline not the accuracy of the revenue forecast. The one point I would note here is that their competitors apparently would seem to have increased revenues by a larger margin, but that is why their PE ratios are presumably much higher. A share worth persevering with imo.
Given cash balance of c550m , negligible annual cash inflow after finance costs and regular capital investment, how are HTWS expecting to fund the c550m acquisition of Oman sites ? More debt on an already huge debt balance or an equity placing at a much reduced SP further reducing the SP. I think this is becoming a real risk and a strategy of consolidation and organic growth appears more sensible . Walk before you can run HTWS.
Is actually selling their shares, unlikely those who big losses currently, unlikely those who have recently purchased waiting for a sp of north of 2500 at least , and not the shorters who are closing their positions. Basic economics, price is based on supply and demand , so someone must be selling for the price to drop , but who, this makes no sense whatsoever. All that aside from the fact the company is growing, has net cash position , decent balance sheet and is profitable . How many stupid investors are there out there , just f***ing hold.