Member Info for johncut

I used 13% on 2024 EPS to get to 59p EPS fy25. There's circa £1.18 in cash so strip that out from £15.80 to £14.62 and that's x25 earnings fy25 going to probably x22 fy26.

Best guess. You generally have to pay for quality this good and balance sheet this clean.

Maybe...who knows...if they keep growing as they are there's no issue.

Louis could be tax planning, increasing liquidity of share float or variety of other reasons.

"The big money is not in the buying or selling, but in the waiting.”

Lets hope anyway.

How many businesses have Cerillion's margins and sticky customers.

80%GP, ROE over 30% unlevered, Yearly capex spend sub 20% of revenue, net cash

If these guys grow at 15% for the foreseeable until they're bought out by a bigger fish i'm happy to hold, top up on any big dips etc.

GPM trust owns 7-8% of GGP and at 20% discount

Yes its working. It's pretty much the same presentation that has been given out before. The board, mine plans, production expectations.

It does state 15p a share which is why the SP must have bounced today. This would indicate SP has been held back and only when the asx listing is complete will it run. I imagine will be some good interest so i'd just hang on! Gold price isn't going down so £0.5bn cashflow PBT must be achievable this financial yr imo.

gold doesn't need to go higher (it may well do) just maintain and cashflows will move these miners to pes of 2,3,4,5 etc. i'd imagine this share **** hit 70p by year end and imagine the top for this share much closer to £1. previous top 70p and this bull run will be bigger than last 2 imo.

greatland is being held back for the asx induction and expect this to be allowed to run post listing.

Any thoughts if rates don't decline? Seems a hard slog back. 10 year at 5.5% - doesn't indicate recession or a drop in rates.

Just an FYI. Chairman does seem to indicate the 6.32p divi will be paid. The max'd RCF and lack of sale info could be a driver for share slump. Debt doesn't leave any headroom for lack of income generation imo.

27 May 2025

SDCL Efficiency Income Trust plc

("SEIT" or the "Company")

Change of Name and website address

The Company announces that, effective from 21 May 2025, it has changed its name to SDCL Efficiency Income Trust plc. Dealings under the new name will commence at 8.00 am (BST) on 29 May 2025. The Company's stock market ticker, ISIN, LEI and SEDOL numbers will remain unchanged.

The Company also announces that its corporate website address will change to www.seitplc.com on 29 May 2025.

The Company confirms its investment strategy and portfolio of assets remain unchanged.

The name change is in response to new fund naming guidelines from the European Securities and Markets Authority ("ESMA").

Shareholders are unaffected by the change and existing share certificates will remain valid and should be retained. Any new share certificates issued will bear the name SDCL Efficiency Income Trust plc.

In the case of GRG i don't believe the state rather the CEO who came from an HR background. Not saying they're not capable but for me this a red flag. I've liked GRG for a long time but was always expensive so didn't invest until Apr. Money overruled feelings on this one but does leave me feeling uncomfortable for the long term.

Something a little different but was anyone else disappointed by the annual report and the focus on DEI, HR projects etc rather than the numbers which was first spoke about in details a fair few pages down. Some company reports i really like are Next, Premier Foods, Inchcape. These companies make me feel that shareholders are the number 1 priority. While happy staff is a must (i applaud the high / matched pension contributions and bones scheme) i think you can tell when an organisation is more infused with wokeism and as an investor makes me feel uneasy. Rainbow coloured annual report also doesn't do it for me.

I bought on the sell offs down to below £18 so we're on 20%. I will hang on but this is no go go growth stock and morphing into a dividend grower. Maybe sit on you cash until the end of 3 months tariffs come around or debt ceiling and more uncertainty comes round. Create your buy list now.

Your saying put some stop losses in? :D

Hi - anyone have any thought on the 1.2% increase in share count over the year. Seems a large increase worth nearly £21m on current market cap i expect for board members. Is this a regular (yearly) occurrence?

Also is it envisaged the pension will be transferred to 3rd party like LGEN to manage liabilities in 2026?

AAvanman - interested in why you think KNOS will be bad. I hold them and have been on a good run. I liked had bought old CEO back and have been buying back shares, big cash balance and still very profitable even if has been a restructuring year. I also thought maybe a takeover target with valuation at depressed levels.

Corry - New investor here. I always thought Gama was always too richly valued (for me) but after yesterday's drop i bought in. Looks like a fwd PE of around 12? Looked a good entry point so took the plunge. Seems to be a good discount for patient investor.

Risk on assets back in favour so probably a rotation out of safe stocks back in to riskier tech, Nasdaq etc...for the moment anyway.

Got to be honest I came across OB recently and his analysis for me is some of the best. I probably have got in at a good time but have bought DEC, SQZ, SEIT, Gore Street. If you read his piece on Watkin Jones you can see what that's done since the lows.

DEC is up +20% in around 4 weeks. I've caught it at a good time (unusual for me) and is very early days.

Resources are very fickle investments and O&G has been in oversupply with reducing prices. I imagine this is at the price floor or there abouts. Underinvestment and tightening in CAPEX over the following years is generally a given following a glut.

All O&G companies doing pretty well. SQZ, HBR and now DEC. Must be the prices trending a higher or worries dissipating about $50 oil.

I bought at £8.50 a couple weeks back and then added again yesterday. These guys are buying back 300K shares a week out of 80m share count.

Yes but you have a 3K CGT allowance per annum or buy them in your kids name or partner. Bigger premium over spot for Britannia's than Krugers...depends on your requirements. Krugerrands could be the ones you'd never sell then Brits or Sovereigns as something you might as CGT free. If you're buying for end of the financial system then it won't matter just make sure you have physical.