focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Easyjet run an entirely Airbus fleet. Boeing , used by
Ryan Air, had the 737 Max crisis, followed by some more recent issues with its aircraft. While Boeing shouldered the bulk of the losses, its customers do take a smaller hit in lost revenue and potentially added inspections/ training/ safety measures.
There’s also the small number of people who don’t want to fly in Boeings.
The hedge funds might have brought the price down, but the bank situation offer from Gilinksi was very public, and if any banks/ Private equity companies valued it at more than his offer, they would have made a bid. We need to look at what happened before the bid was made though. Why did Frumkin give the impression all was rosy right up to the bitter end? Were he and Gilinski's daughter in cahoots? I think that one is for the FCA.
As long as there is no material writedown, the NAV is now 8 times the market value. At this price surely it is better to sell the whole business, even if only a fraction of NAV is achieved.
Not sure about your TastyTrade comment.
It was a disaster but it has, albeit accidently, become a huge asset in the wake of rising interest rates. There is now significant income through interest earned on US client money. Were we only the old outfit, we'd be seeing revenues decline.
Every RRR "success" over the past 8 years has gone like this:
1. A breakthrough in a long running, high risk project is achieved. The money is imminent.
2. We encounter a "small" delay. Shares are issued to see the company through till this is rectified. It is not announced, but this money is mostly used to pay AB his six figure salary.
3. The shareholders wait patiently while AB jet sets around the world to resolve the issue.
4. Shareholders lose interest, the share price tumbles and suddenly, when it looks like all is lost, there's a new breakthrough.
Go to the companies website and read about the gold in Kenya, Australia and Columbia, Ferrosilicon in Bosnia and copper in Congo. Are we going to add Zimbabwe lithium to this list?
With commodities low and interest rates high, we can pick up bargains. No need for equity or finance. $60m is not a lot when it comes to buying a mine in ordinary times, but these are not ordinary times. Investing in suspended mine or early phase project with our existing cash pile would be very lucrative long term.
If you looking to turn a quick buck, this company is not for you. If you want a stable, long term dividend payer, it is perfect.
I am still positive about this company, but am worried about the big push they had on issuing unsecured loans after the acquisition of Ratesetter. Unsecured loans are super high risk right now. Hopefully any write downs are manageable.
Do you have a link to this?
Just being in profitability is good enough for me. The NAV is over £4 a share.
Correct me if I'm wrong, but this is the first we've heard that they will actually start producing from Serenity. It's not the gusher we had hoped for before the exploration, but it's better than writing the field off. Surely that's worth a few pence on the share price.
The PREM facility has been built over years. The crisis only escalated at the end of last year. See the link below. I was in South Africa, where my companies suppliers are based, from December 2022 - Jan 2023 and the situation was dire.
If, as Wolf says, there are private generators, it should be OK, provided the fuel can get to them. In Zimbabwe that's never guaranteed.
https://www.newzimbabwe.com/christmas-blackout-beckons-eskom-has-to-cut-off-zimbabwe-or-sas-grid-will-collapse-says-spokesperson/
Zimbabwe imports power from South Africa. South Africa's domestic energy situation has deteriorated so badly they've all but cut off electricity exports to Zimbabwe. Unless the power is coming from a private plant, we may be waiting a while.
Agree that June Felix should admit she made a mistake. That might expediate her exit, so she's not going to do it. I think the big money is holding off buying here because they think she'll make another big mistake. A CEO of a company like this one should know the rules around the risk of a billion dollar acquisition. If it succeeds enjoy the fruits. If it fails, accept the blame and step aside.
TT earning a lot on the back of interest rate rises. It wasn't the plan when they bought it, but I'll take it. It shouldn't let June Felix off the hook though.
Agree on the costs. Unless the spend is Capital spend on upgrading IT systems, but I don't think that's the case. If it was, it would have gone on the balance sheet rather than the spend. I think this is still very under priced, so I'm glad they buying back, but also agree it is too slow. Fire JF and you'll see the share price soar.
Just a comment on the projected NOI: In the September presentation the forecasts dropped because of a lower AECO price. Now that the price is at a record high, maybe we will actually hit the record projection.
The loan notes are very much in hand. A few months income at most.
TonyNorstrom1
I got my figures from Slide 6 of the latest presentation. 25% oil and condensate. My apologies, I should have written 1/4 oil and 3/4 gas and NGL, not 4 times.
Where are you getting the December production figures from?