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In my opinion this is still a minnow to n terms of the big players. We will be constrained by what we can make or license. I see £3 in the short term with a takeover in the range of £10 by someone who can scale up far faster than us. Just my opinion of course.
is it me or is this one different? anyone know how much a kg is worth? it seems a halfway house to declaring some value to these deals and as far as I can tell most of it drops through to the bottom line.
I have to agree. Could not have been much better. I am surprised the announcement that dividends could now reach 40% of PBT did not cause a major spike! I bought in quite heavily this morning.
Just found this on LSE Sharecast news from yesterday! ShareCast News) - Hikma Pharmaceuticals chairman and chief executive Said Darwazah has splashed on �4.32m worth of the firm's shares, just a day after they dived on comments from US presidential hopeful Hillary Clinton. Darwazah, whose father founded the company, paid 2160p a share, snaffling 200,000 of them. At about 18:03 BST, shares in Hikma were up 1.49% to 2182p. On Thursday, Clinton and several senators spoke out against pharmaceutical pricing by drug companies, denting their shares in London and in the US. A day earlier, on Wednesday, Hikma reported a jump in first-half revenues but a drop in operating profit, as it reiterated its full-year revenue guidance. In the six months to the end of June, core revenue rose to $882m from $709m, but operating profit slipped to $176m from $204m due to a lower contribution from specific market opportunities for the generics business compared with the first half of 2015. The company declared an interim dividend of 11 cents per share, in line with the dividend in the same period last year. Top Director Buys Hikma Pharmaceuticals (HIK) Director name: Darwazah,Said Amount purchased: 200,000 @ 2,160.00p Value: �4,320,000.08
Hikma said: Overall, the Group has performed well in the first half of 2016. We have made considerable progress integrating the Roxane business (now known as West-Ward Columbus), transferring the Bedford products to our injectables manufacturing facilities and promoting strategic products in our MENA markets. We continue to expect Group revenue to be in the range of $2.0 billion to $2.1 billion for the full year in constant currency, reflecting strong revenue growth across all three business segments, including the consolidation of ten months of revenue from West-Ward Columbus. Three brokers have updated guidance to an average of 2603. What a stonking buy!
trion: I think the provision is to cover the work done by CUCBM and others, which is to be paid out of cash flow. I would imagine this will reduce as production increases and slowly fall out of the books, as will the CNPC provision as noted in the 3/2/16 update. Just my understanding - not intended to be gospel, as it were.
H1 exit rate was 10.15 Bcf and the loss was tiny (GDG was probably cash generating for the last two months of H1). At the end of H2 we beat our 12 BcF target and have now been handed a further 5% on the price we sell at. When you factor in the new revenue for other fields developed by partners who have now achieved their cost returns, that looks really health. I predict a share price of over £4 in 2016 - a no brainer.
In line with trading statement of January - no surprise there, but outlook up 66%!
Have just spoken with Kevin Milne - the new deputy chairman of six months standing. He seems very open and honest and agreed the RNS was a tad confusing. He did go through it with me and it now makes a lot more sense. The reason for all the complex special purpose vehicles is to do with the complexity of Mozambique law. It would have taken quite a bit of time, effort and money to change the structure of the holding or operating company. He suggested I think about Montara as an investing or umbrella company with 13 different concessions. Three different investors have sought an approximately 15% share in three of these concessions, for which they have paid roughly $1 million each. In return, they get roughly 15% of the profit and are paid a 5% coupon, so the investor is being rewarded in two ways, but the company have raised sufficient capital to expand the operation significantly at relatively low cost and with no dilution to shareholders. He also suggested part of his role is to improve the frequency and clarity of information for their investors! The rest of this is personal comment and NOT what he said. I believe the investments tend to put a value of around $20 million on just three of Montana's concessions and show this company is seriously undervalued - probably because the market does not yet understand Obtala. However, I think the new blood at Obtala will seek to do this and we should see a serious re-rating soon. that way
I am sure the market does not really understand this RNS and has reacted accordingly, but my take is this: Obtala seem to have obtained three indefinite loans paying interest of between 12.5% and 17.5% of 5% return - say 0.75% on average. In addition the investors will receive the economic interests in (presumably the profit from) between 3000 and 6250 hectares of forestry and own between 12.5% and 17.5% of their dedicated company (SPV). In return there is some immediate investment and marketing channels, allowing more rapid growth and I presume the BOD judge that the remaining 258,250 hectares and the 82.5% to 87.5% of the SPV's will be worth more than what we had before the deal. Having said that, another way of looking at things is that they have given away around 4.7% of the forestry business for $3 million, making the total worth say $63 million, rather than the £100 million it was last valued at. Still WAY UP on the current market cap of just £16 million. Surely a screaming buy.