Copper just hit new 2 year high today... CAML still down around 40% from back then.
CAML has always performed quite poorly. Looking forward to divi being reinstated shortly and the recovery road to commence.
Copper miners as a whole haven't really tracked the commodity price. But few are still so far down on the year
Was literally signing on to post the same link.
Big money beginning to move in.
This sector is link investing in Tesla in 2015 and complaining that its not going anywhere... All just a matter of patience
Let's just say that they decide to reinstate divi at comparable rate to past years, i.e. 6.5p. At todays exchange rate, that'd be just under $15m US. Easily manageable!
Personally, I'd be very content with this. Says company is back in business. Keeps our cash on hand position extremely good for event of any potential down-turn. Sets expectation that next years' full year divi will also be returning to full amount.
Sure, they could offer more, but I'm more swayed towards stability than rashness here. 6.5p would do me nicely and set this share up for a re-rate!
Given all the talk about Britain going green of late, it's interesting that this hasn't budget any. Wonder if it's cause GRID still isn't on most peoples radar? Maybe cause it's not a regular stock, so when PIs go to buy and get a warning message they pause and back out? Perhaps cause NAV took a slight drop due to construction delays? Perhaps cause folks don't do research and expect forward divis to be based on last years' numbers, not realising that it's at 7p per annum already? Or perhaps there's still a lingering fear about a potential raise going forward?
Whatever the reason, it's interesting that it's not budged in the slightest, whereas you have a play like IES that went through the roof (obv' i know that they're different styles of play, but both battery storage non-the-less).
Ah well, still looking forward to 6 months down the line. Expecting this to be nearer 120 on the posting of the annual report with a maintained divi of 7p (provided no more delays). Has gotta be one of the safest plays out there at the moment
You'd somewhat hope it's II buying or news leaked somewhere (given key partners are in Asia, that's also highly likely) otherwise this rise is starting to look like a traders galore
35-37.5 has more resistance levels in it. Will take something meaningful to break
Tbh, gradual 2-5% per week are preferred. These spikes don't usually hold & lots of PI's get caught out.
ATB to the LTHs!
has been a long time since this had real upward momentum... On the weekly chart there was a gap from 26.75 through to 30 which looks like we've thrown through. Why though? Maybe Ganfeng review has positive findings?
Ach well. I sold out of mine a while back, but kept my daughters holding here. Not planning on selling that until 10 years from now, so whilst this is enjoyable to see, doesn't make much difference compared to where I'm looking for this to go
All needs to be taken in perspective. Re: Dividend, I could see an announcement on this coming before the end of next week. Why? Firstly, because CAML traditionally provide a Q3 update early-mid October and this is natural time for providing such an update on the dividend. Secondly, because the parameters set out in the interims for determining the 'when' to make the announcement have now been officially achieved (I quote: "We had therefore planned to reinstate our dividend. However, given the recent TSF4 leakage, we have decided to delay declaring our interim dividend pending further clarity on the likely cost and timing on rectifying this issue, and we aim to provide an update in the near term").
Given that actions are scheduled to take approximately 1 week, I can see management holding off the Q3 update until these key actions are completed and then providing both the Q3 & Dividend update simultaneously... For me, it's not a matter of IF, it's a matter of WHEN.
Otherwise, CAML SP needs to be taken in perspective with both copper prices and the technicals. Copper took a steep dive as China went into hibernation for Golden Week last week. CAML SP has a strong relationship to this. Additionally, CAML traditionally moves slowly in any direction - especially when heading north. It's managed to close above the 4-HR 50MA for the first time today since the drop. That's a key threshold crossed. We're now sitting on the rising 100-day MA, but have both the 50-day and 200-day MAs creating a ceiling at 167/168p respectively. 160p has been an important threshold to close over as traders using the Fib retracement would have been using 160 as an initial ceiling for retracement. 169 has the make-up of being another one... Anyway, my point is, CAML has loads of technical barriers to cross before it can break into the 170s and above. It's possible that dividend news may make CAML "gap up", but who knows how long it will really take... Eitherway, pretty confident that when I look at the SP 12 months from now it will be closer to 250 than 150 (assuming commodity prices haven;t crashed between now and then)
All the best (+IMO of course)
Agreed @Gerry.
Equally, I'm now slightly more uncertain than a week prior. Why? As the jitters of this past few trading sessions has shown that there is increasing uncertainty in the broader market. There's potential that some investors / IIs might have decided to apply for less than they may have a week or 2 earlier.
We'll see soon enough. I'm hoping for an oversubscribed application myself in order to see return to 140p+
I wouldn't expect it to drop below offer price @Gerry.
Thing is, 3rd interim is generally in November. So a good chance of getting some SP growth between 1st October and then. As you say though, this is more of a dividend play than a growth play.
Note that whilst the RNS stated that they want to issue up to 750 million shares over the 12 month period (which sounds bad) it looks like they're wanting to get it all done in a single tranch. IF they can pull that off, then much more chance in seeing this return to 140+ by end of the year
An exceptional set of results. Certainly beyond what I was hoping for. Kounrad performance particularly was top notch, with minimal impact despite poor copper prices, covid costs etc during the period.
I like also the exploration on renewable power. Given increasing ESG focus these days, these moves should hopefully help set caml apart from the crowd and start bringing the valuation back to something more sane.
Obvious shame about dividend, but correct course of action. Tbh, I don't really care about the 3/4p dividend itself. The message is much more meaningful. Full divis are back on as soon as this site issue is resolved!
Commodity prices souring. Divis coming back. Debt down again. Increasingly attractive to esg investors. Site issue looking not tooo serious.
Feel another top up coming
A bit surprised by the extent of the sell off tbh. Congrats to whoever sold out quickly and is able to buy in lower.
Easy option would be to skip dividend and that'd over whatever costs involved I'd expect. No?
Ah, well, we'll see what happens soon enough. You'd of though coppers just crashed 20% and we lost a mine at this rate
10% drop?
Sounds like they acted quick. There will obviously be expenses, but equivalent to 10% off MC?
Update on 16th will provide more understanding of overall corporate position, potentially more on this then too. Worth waiting
@Greenfish: Unfortunately I think almost all of the plays like UKW are vulnerable to share issues. Given that they return such significant percentage of their earnings to investors, this is how they 'raise' capital in order to invest in new assets... ie. all part of the business model. Typically though, the issue wouldn't be so large a percentage of their market cap, or via multiple raisings. That'll likely put a lid on near term rises - yes.
Equally, as suggested below, it depends upon strategy. If it is possible to get in at or close to NAV, then one should be good. Second best would be to get in after announcement of a raise. You'll observe that SP tends to drop towards the stated issue price. Buying in there or thereabouts should be relatively close to the floor (IMO). e.g. I bought a few grand of TRIG after their last raise. Wasn't to invest, was just a quick trade for easy money. Situation this time with UKW is slightly different
Anyway, all wisdom to you in what you choose to do. Personally, I've got all I need already, so not making any changes
Really don't understand this company.... From what I see, it's the most direct way of investing into UK's EV charging points on the market. I recognise that Shell & BP. both have some expansion here, but most players out there are privately owned. NEXS has significant growth opportunity here and is the only one that I've found...but from no help to their PR.
Have read sooo many investment reports on EV market and they universally say that there is no exposure to EV charging points besides the majors or funds that also invest in private corporation raises.
Why doesn't anybody at NEXS start banging on about this?
Recognise that their revenues streams are predominantly elsewhere, but come on. It's a bit of a joke!
I had set aside some money for here, but I can't push myself to buy shares in a company where mgt seem oblivious at communicating what potential they've got here. No wonder volume is shockingly low & comments here are almost non-existent. Such a shame
To buy or not to buy? That really depends upon ones own strategy and viewpoint
I'm fortunate to have picked up my current holding in Mar-Apr this year at prices between 101-120p (had bought in 2013, but sold out a long time back). Personally, I'm wanting a core stock holding that generates a reliable average return of 5% per annum. Potential for capital upside is great, but I want to view that as a bonus, not expected. UKW fits this bill for me and so I hold.
My view point:
1) ESGs are increasingly popular with younger generation of investors & even the big IIs are getting in them because returns outperform wider index average.
2) Renewables will be one of the industries to gain from Covid. They gain from increased emphasis on the grid, they gain from stimulus, and they in turn gain from increased media attention. More power / money & attention are all good for sector SP.
3) Given wider economic uncertainty, lower interest rates for longer etc, I think high yields such as UKWs will gain increasing appeal to wider audience, so expect performance to be fairly robust.
4) Given above points, even if there be another market collapse, I don't expect UKW to dip as much as before. It's demonstrated that it doesn't go off-line, but is rather quite resilient. There may be sellers covering margin elsewhere (like what happens with gold and precious metals)...if anything, I'd expect any dip to be short and then fairly promptly return to above NAV levels.
Equally:
5) I'm not a fan of multiple prolonged raises. Whilst capital growth is not my target for UKW, I do expect SP to cap and swing in the 130-140 range. Potentially this may to appeal to traders
6) Raises are generally accretive to NAV. So I don't have this concern as some others here have raised. However, investment in new fields typically takes time to complete to production. Covid has demonstrated the risk is to supply chain delays during construction (not so much on operating fields). TRIG suffered a significant NAV drop because of this reason, so I'm not keen on UKW opening themselves up to too much risk here should they seek to undertake some significant new expansion
7) More macro factor, but prices have dropped. Can't remember how much is hedged, but overall energy pricing across europe has dropped and is forecasted to stay lower. This is not a major blow, but should we encounter construction delays on new projects & lower pricing together, that's more potential to become damaging
Anyway, those are my thoughts.
Re: forthcoming market drop. Self-fulfilling prophecy. Enough people fear one, it will happen. Wisdom to all during these uncertain times
Have been very disciplined at avoiding topping up on more of these... until this morning
2 weeks till interims and possible reintroduction to dividend. Copper at highest prices since early summer 2018 within an uptrend I may add. This hasn't budged since late July.
Today should see a finish above the 200 daily MA (bullish). Stochastics are reflecting off of oversold (at both 4 & daily levels), indicating we are just entering into new round of buying, and we look healthily above any other barrier. Besides current SP sitting on a Fib level, I can't see what's stopping this rise... Surely this will lift to the 187p ceiling in run up to interims and then explode past 2 quid assuming dividends are back on. My opinion of course
SP @29P as I write. Held up reasonably considering. However, pretty shocking BoD haven't released any statement whatsoever. This is hardly a normal day. Makes one think that this private airstrip has been used for their own get-away. BoD need to get their act together