Member Info for kc911

Being dragged down with overall negative market sentiment.. however, what goes down unjustifiably always comes back..

With a touch of hindsight, seems bonkers now management walked away from a mooted 600p+ offer from US PE

Would the new CEO do the same I wonder if PE came knocking again c. 350p?? That’s c. 50% uplift from where we are currently

I’m sure a lot of holders would not be too happy at those levels, although 400p may just do it imho all things considered

Keep an eye on the volume, big off book volumes are normally a sign something going on

GLA

And another not small and unknown Cartier:

Luxury jewellery company Cartier has notified customers that its website was hacked, resulting in the theft of some client information. (Independent)

In an email to customers on Tuesday, the company, owned by Richemont, said that "an unauthorised party gained temporary access to our system."

(All of these latest attacks were in the last 24 hours)

More high profile cyber attacks:

- Main distributor to Amazon’s Whole Foods hit by cyber attack. United Natural Foods discloses disruption to its operations that could affect supplies to supermarkets (FT)

- Legal aid lawyers face chaos following cyber attack, says representative body (Independent)

- BHA believed to be latest organisation to be hit by a cyber attack (Racing Post)

And there's more today..

NHS trusts had information stolen in the latest cyberattack on the UK health service

https://news.sky.com/story/nhs-trusts-data-stolen-in-cyberattack-13372770

Global retail giant Victoria's Secret shut down its website and paused all online orders after the company was hit by a crippling cyber attack

Another Day, another cyber attack:

This time no less than Adidas

https://www.bbc.co.uk/news/articles/c071m82v80po

But < $3k first ;)

So you think a max of 150k shares bought each day is responsible for the rise????

Over 1.8m traded already.. usually a good indicator something is going on.. US open should shed some light on whether someone stateside is sniffing around

The takeover that didn't happen was from only 2 and a half years ago:

In 2022, a potential £1.3 billion takeover of GB Group by American private equity firm GTCR was considered but ultimately fell through. GTCR, based in Chicago, had until October 4, 2022, to make a cash offer for the London-listed identity specialist, but ultimately declined to do so after failing to reach an agreement with GB Group.

Here's a more detailed look at the situation:

Initial Interest:

GTCR, a Chicago-based private equity firm, expressed interest in acquiring GB Group, a London-listed identity verification and fraud prevention specialist headquartered in Chester, UK.

Potential Deal Value:

The potential takeover was valued at around £1.3 billion.

Negotiation Failure:

GTCR failed to reach an agreement with GB Group, prompting the firm to drop its takeover bid.

GB Group's Response:

GB Group stated that its board believes the company has a strong future with sustainable growth opportunities and a leadership position in the identity verification and fraud markets.

Share Price Impact:

Shares in GB Group initially surged after the potential takeover was announced, reaching a high point of 647p before falling back.

No Further Action:

GTCR confirmed that it was no longer evaluating a possible offer for GB Group.

Some big trades being filtered through on delayed reporting indicating there's still an appetite up here..

perfect timing on the Holdings RNS shift.. but make no mistake this is all about Gold Price..

and on this front looking for a continued squeeze higher to 3400-3500

That update from Tamesis following the update

Key Points

Palito Mine Back On Track.

Grades have significantly improved YoY (by 30%), and consistent QoQ (albeit marginally higher). During the quarter, 25.2kt at 6.15g/t were mined vs 36.4kt at 4.72g/t in Q1 2024, and 23.6kt at 6.10g/t in Q4 2024. It is pleasing to see grades back at 6g/t level, and we expect this to remain for the remainder of the year.

Coringa Performing Well.

While mined tonnage has decreased by 27% this quarter, grades have significantly improved by 33%. Ounces minded are effectively flat QoQ as a result, while increasing 38% YoY. During the quarter, 19.6kt at 8.31g/t were mined vs 19.8kt at 6.39g/t in Q1 2024, and 26.7kt at 6.27g/t in Q4 2024. The Serra mine is currently being mined from 4 zones (levels 260m, 225m, 190m and 158m), and development remains well ahead of mining with the main ramp down to level 125m. Meio (the second mine at Coringa) is progressing through development. The first two levels 356m and 336m are in development, and development ore is already contributing to the Coringa gold production. Meio is expected to significantly contribute to Coringa production this year, driving the increased growth in production from Coringa. Palito Plant. Plant recoveries continue to exceed 95%, with recoveries at 97% this quarter. Milled tonnes were slightly down QoQ, but feed grade was higher due increased feed grade from both Palito and Coringa. During the quarter, 48kt at 6.7g/t were milled vs 54kt at 5.38g/t in Q1 2024, and 52kt at 6.21g/t in Q4 2024.

Strong Net Cash Generation of $4.3m.

During the quarter, the company generated $4.3m of cash, reported a cash balance of $26.5m and a net cash position of $21.1m. The company repaid its unsecured loan of $5m with Itau Bank in Brazil which carried an interest coupon of 8.47%, and took out new $5m loan from Banco Santander at a significantly reduced coupon of 6.16%. This new loan is repayable as a bullet payment on 21 January 2026.

The company have announced they are assessing appropriate mechanisms to return capital to shareholders. This will either be via a dividend or share-buy back , but the company has not disclosed which plan they intend to pursue.

Valuation

The growing production still has risk, but we believe the risk is mostly behind us. Palito grades have recovered and are expected to remain at ~6g/t, Sera at Coringa is well developed, Meio is starting to contribute, and the classification plant has gone through its optimisation and is now fully operational. Fresh, higher grade ore will be processed at Coringa now, and we see production growing QoQ. At $3,000/oz, we estimate the company’s share are trading on a PER of 3.1x and 2.4x for FY25 and FY26, and an EV/EBITDA of 2.1x and 1.6x. Strong cash generation follows into FY25, generating $32m for the year (yield of 20%), and we forecast a net cash position of $55m by year end.

We see the company being well placed to return capital to shareholders at these levels.

On 6 January 2025 the Company fully repaid its $5.0 million unsecured loan arrangement with Itau Bank in Brazil which carried an interest coupon of 8.47 per cent.

On 22 January 2025, the Group secured a new $5.0 million loan from Banco Santander. The Banco Santander loan is repayable as a bullet payment on 21 January 2026 and carries an interest coupon of 6.16%.

No idea where you guys are getting 17/4 from:

"One-off special dividend of 41.8 US cents per share, equivalent to US$308.0 million which will also be payable on 30 May 2025 to shareholders on the register as at 22 April 2025."

Current trading and outlook

All our businesses experienced strong trading through the Christmas and New Year holiday period and revenue has been in line with our expectations throughout January. Some trading variance is anticipated in Q3, followed by increased cost pressures in Q4 with Gambling Act measures, including the statutory levy and maximum online slot stakes, as well as the increase in employer national insurance contributions and the National Living Wage, impacting from April.

Trading performance is encouraging, and the Board is confident about the Group's ability to deliver on its strategic goals. Underlying LFL operating profit for the year ending 30 June 2025 is now expected to be slightly ahead of current expectations. We expect the benefits of the land-based legislative reforms to be seen in our next financial year.

Preparations continue at pace to take full advantage of the legislative reforms for the UK's land-based casinos which are expected to be implemented in the summer of this year.

Continued improvement in financial performance

· Like-for-like ('LFL') Net Gaming Revenue ('NGR') of £401.8m, up 13% year-

on-year with all businesses reporting growth.

· Underlying LFL operating profit increased 55% to £32.9m (H1 2023/24:

£21.2m).

· Group underlying LFL operating margin of 8.2%, up from 6.0% in the prior

year.

· Statutory Group operating profit of £40.2m compared to £16.2m in H1

2023/24.

· Net free cash flow of £4.3m in the period (£23.5m in H1 2023/24), with net

cash pre IFRS 16 of £24.2m.

· The Board has proposed an Interim dividend of 0.65 pence per share.

With gold seemingly hitting ATH and with $3k in sight I'd be surprised if this didn't have a strong bounce back.. we all know it's a high cost producer it however becomes all about the big free cashflow generated with Gold in a Bull Market this should be strongly underpinned

Aby1972

bid as in bid/offer..

when you sell, (as someone has been doing in £20k lots last few days), you would expect the bid price (price you can sell in the market place) to drop. But it hasn't!

It has not only kept firm but actually gone higher, suggesting there is a background buyer picking up stock (order)

judging by the price action, price is being marked down on a temporary basis intraday in the hope that it flushes out some sellers so they can pick up stock.

Matter of time this moves up to 100p.. someone out there picking up all the stock with bid remaining firm