Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
As much as I'd love hostilities to end, they aren't. Not this year. Or next. I would bet money on it, unfortunately. Any news you see about a armistice or negotiations are absolute nonsense or/and disinformation. Both sides seek victory.
At Ferrexpo’s recent AGM, all resolutions were passed except for those regarding the directors’ authority to allot shares and disapply pre-emption rights, which faced significant opposition due to concerns of share dilution by the largest shareholder. The re-appointment of Vitalii Lisovenko as an Independent Non-executive Director did not pass the independent shareholders’ vote and will be subject to a second vote. The company plans to engage with shareholders to understand their concerns and will report on this engagement within six months.
Ha a cameo from Zhevago would be interesting... probably busy skiing though. Expecting details of AGM by afternoon, still early.
AGM tomorrow.
@Andy1022, do you have lead poisoning or something?
@devil666, please learn how to write English properly when regurgitating your ludicrous conspiracy theories. Typos permitting, it could make your worldview more palatable. But probably not.
agree alex, good points. @devil 666, the idea that is zelensky is a "warmonger" is genuinely hilarious. what alternative universe do you live in? "incursion" ? i think its a little more than that... also, joe biden, trump – the war will continue whoever is in office, you are seriously overestimating the power of the white house. trumps assurances to end the war in 24 hours are pure guff, theatrics to simply appeal to his maga base. neither the ukrainians or russians are going to listen. and why should they? @rbrand, commentators like colonel mcgregor who constantly spin these stories should not be listened to, the guy is a proven charlatan, distorting events or fabricating outright lies. since his army career got sidelined, the man thinks he's one of the few truthsayers on the war. but he's really just a extraordinary bitter, irrelevant ******.
Yeah, FXPO is definitely a long-term hold. But I can't see negotiations happening anytime soon. Not this year or next. The war is an existential fight for both Ukraine and Russia. An armistice would benefit only Russia, I think. This is where I disagree with many on here. It would be a prime opportunity for the Russians to rearm and reorganize. While it would prove Putin's eventual downfall, I do think he would embark on another campaign to take over as much of the country as possible. I will bet money the war continues unless Russia catastrophically falters. If Ukraine falters, however, a collapse of their frontline could compel the West to intervene militarily. A ceasefire is in nobodies interest currently. Russia doesn't see the need or reason to accept one if it can dominate Ukraine (which Putin clearly believes), while Ukraine doesn't want to settle down when so much more could be lost. FXPO will only regain (and certainly surpass previous highs) if Russia and Putin are quashed entirely, although obviously this will be hard to do. FXPO in Russian hands would be a absolute, unmitigated disaster, shareholders will be liquidated, and all assets requisitioned by the Russian state in retaliation for the West doing the same for Russian assets abroad. I do not want a ceasefire on any account. I want a Ukrainian victory.
I concur, the Russian advance is heavy and brutal, but too disorganised. Russian soldiers often travel without armoured support, exposed, easy targets for Ukrainian artillery, drones and snipers. When they do use tanks and armoured personnel vehicles, they cluster together, making themselves perfect targets for Ukrainian grenadiers with Javelins and NLAWS.
Agree BB, RHM is a beast. Plus, there is a lot of rumours about them and Thyssen-Krupp teaming up in some capacity. Thyssen-Krupp is another arms company that people should keep an eye out for. Its been a bit volatile past few months but is currently still way undervalued. If Rheinmentall do form a arms consortium of sorts, then definitely expect Thyssen-Krupp to be involved. Those shells won't make themselves.
No worries H, I really do think it is. I am more concerned at how things on the battle might turn out. The Russians are currently assaulting Chasiv Yar – occupying it would give the Russians easy access to the major towns in Donetsk Oblast. Vadym Skibitskyi, Deputy Head of Defence Intelligence of Ukraine, recently said in an Economist interview that defending Chasiv Yar is proving to be hard. The Russians are throwing everything at the Ukrainians – Su-34 bombers, Su-25 attack jets, FAB-500 glide bombs, loitering munitions like the HESA Shahed 136 and the ZALA Lancet drone, Storm Z and Storm V penal units in so-called 'meat waves', ODAB-1500 thermobaric bombs, paratroopers from the elite 331st Guards Airborne Regiment, incendiary munitions like white phosphorous, armoured convoys of AFV's like the BMD-2 and BMP-2 and APC's like the BTR-80 APC, plus lots of T-72 tanks. The Ukrainians are doing a stellar job holding them off so far, but they are desperately short of men and munitions.
Howardzzz – Ferrexpo has recorded a provision of $131 million in the chance they do lose the court case. This will be more than to cover any negative outcome from the two legal cases. Ferrexpo would have recorded a profit of $46 million this year, if not for this. Hence, they reported a loss of $85 million instead.
I will leave you with some financial highlights from their report:
• Revenue 48% lower at US$652 million due to lower realisable sales resulting from logistics constraints and a decrease in average iron ore prices (2022: US$1.2 billion).
• Underlying EBITDAA fell to US$130 million at an EBITDA margin of 20%, heavily influenced by operating foreign exchange gains of only US$31 million for 2023 compared to US$339 million in 2022.
• Net cash flows from operations: remain positive at US$101 million despite the significant challenges posed by the war (2022: US$301 million).
• US$131 million effect from provisions to cover possible negative outcome of ongoing legal proceedings results in a loss of US$85 million.
• Capital investment of US$101 million, including sustaining and optimisation projects (2022: US$161 million).
• Net cash position: improved marginally to US$108 million as at 31 December 2023 (2022: US$106 million
“You could wake up to an rns saying the plant has been destroyed”
Russia would prefer to appropriate the mines themselves. There is no “plant.” If they do attack, it might cost them too much in terms of material and manpower. Mines are too disparate in terms of targets. Much of the infrastructure is underground. Remember Avdiivka? More Russians died taking Metinvest’s Coke and Chemical Plant than during the
entirety of the ten-year Soviet–Afghan War. A true Pyrric victory.
“You could wake up to an rns saying they have lost their court cases and need to find cash they don’t have”
I am confident they will prevail in the courts.
In terms of cash, they have plenty. Read the annual report, cash is not something they have a lack of.
Personally, I am buying as much as I can OHM. I understand those who feel tentative or anxious. But the court case really isn't anything that Ferrexpo can't handle. In April 2024, Ukraine exported more than 13 million tons of products, surpassing the indicators of February 2022, and thus reaching pre-war volumes once more. These exports were significant: worth $3.3 billion and 1.3 million tons more than in March 2024. The volume was more than Ukraine exported in February 2022.
The growth of exports is helped by:
1) Opening of an alternative sea corridor in the summer of 2023, which allows Ukraine to export, among other things, grain and metal.
2) Ship insurance program, created jointly with the British government and a pool of insurance companies such as Lloyds of London and Marsh. Every voyage is issued $50 million of hull war risk cover and $50 million of protection and indemnity (P&I) insurance.
3) Expansion of the capacity of Solidarity Lines, primarily with Moldova and Romania.
4) Improvement of conditions for transporting goods by rail to the Danube ports.
Okay, there's a lot to break down.
1) The hearing scheduled for yesterday (30th April), may not have happened.
2) A preparatory court hearing scheduled for 12th March 2024 did not take place nor did one scheduled for 9th April 2024.
3) A court of appeal hearing scheduled for 16 April 2024 did not take place, but one is for now scheduled for 14th May.
4) The Supreme Court hearing on 17 April 2024 considered primarily procedural matters, and heard the arguments of both parties. The next Supreme Court hearing is scheduled for 27 May 2024.
5) AGM is 23rd May.
Information like this makes me even more bullish on FXPO. Nice find Alex. I reckon the SP will flutter around the mid 50s before the next court hearing scheduled for 27 May 2024.
Government published this detailing the extensive aid and military investment of the UK.
"Building on the historic UK-Ukraine Security Agreement, marking the start of a 100-year alliance, we are committing
to provide at least the current level of support to Ukraine until the end of the decade or for as long as required."
https://assets.publishing.service.gov.uk/media/6628c835b0ace32985a7e51c/2024-04-23_Defending_Britain_-_FINAL.pdf
OMH and Evanescent, you read my mind. JW, the upcoming court cases are small fry. The price at the moment is a great opportunity to get some cheap shares easily worth 3 to 10 X more. Large share holders should not be selling at all. Apart from losing money, they will be missing out big time on massive future growth. Are you shorting FXPO though JW? If so – why? It is about as much good sense as parachuting into an alligator farm.
Wouldn't worry about court case too much. It is (mostly) theatrics to show they are clamping down on corruption. It would be extremely foolish to punish FXPO when it has many big, influential foreign investors like HSBC and Blackrock. I've said it before, and I'll say it again, this is the steal of the century, when the court case is done and dusted, there will most certainly be a dividend (likely a resumption of the one cancelled back in February), but perhaps a 2nd dividend some time later. A 3rd would not be out of the question considering the sheer amount of cash generated by FXPO. The Black Sea is clear for exports now. The SP will NOT fall back to record lows ever again (unless the company is absorbed by the Russians – highly improbable) as all the risk is now baked into the price. With the recent passing of the aid bill, and security assurances from NATO, I wouldn't worry about that. If Ukraine wins, this becomes a multibagger overnight, and the SP might even hit record highs (why not?) FXPO will be involved in the reconstruction of Ukraine.
Thyssen-Krupp is steadily doing well, restructuring plan with Carlyle Group and diverse exposure (submarines and corvettes to Israelis), is buffeting them. Advise anyone who isn't in Thyssen-Krupp to invest, I invested about 3 weeks ago and am up 10%. Stock is still dirt cheap – slightly more than RR now a share, but could easily double or even triple.
Clued, again, its a warzone. Its not an excuse, its a reason. If you think the Israelis are being callous, you should see what the Azerbaijanis are doing, or the junta in Burma. Literally nobody cares. Its all just hand-wringing from certain sections of society who have an axe to a grind. Its just distracting from the Palestinians. There's a reason why Egypt and Lebanon are refusing to open their borders to refugees from Palestine – they remember the trouble it caused the last time they accepted them. Beirut used to be the Paris of the Middle East before the PLO turned up. Cairo refuses to host anybody with links to Hamas – they are the offshoot of the Muslim Brotherhood (Egypt is sworn enemies with them).
Yes, the Israelis are hard, abrasive, arrogant, but their neighbours are much, much worse.