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Completely agree on your synopsis MrBB - we're in a totally different place, now to then. The saudi thing is interesting - just one customer there (an oil sheikh) could be than some countries!
The US is interesting (and again, we've not even scratched the surface of what that market will do). Not even scratched the scratch that scratches the actual scratch imo.
Long term hold for me. There's only 92mill shares in circulation now too.
Just looked it up. It hit £20 on the 9th Aug 2018 (a thursday as it happens) and someone said they'd sold - general consensus was that that was the wrong decision. RNS comes out Monday and there's an immediate £1 off the price and by 23rd Aug it was at £15......and falling!
The last time it got to £20 (2018?) i distinctly remember another poster on here saying 'I'm selling' because it had hit the £20 and there was a results announcement due the next day. He sold (because he was worried it had hit it's top value) .......whilst i bought into the 'it's going to hit £25 in 6 months time brigade'..............and lo.........the next day Plus put out one of their classic 'it's been a disaster and we didn't give you guys any idea and moreover we've decided to write this disastrous news in an RNS announcement that is particularly hard to read and in fact raises more questions than it actually answers, coupled with the fact that it's extremely hard to work out what is or has happened to the business since the last RNS announcement' .....and that was that........the share price tanked like an anvil attached to a hippo chucked out of a helicopter. Thankfully those sorts of announcements are a thing of the past.....but £20 is a big deal for me although the fundamentals (with nearly £11 a share in cash helps) are totally different now (on every level, inc far better written announcements, which, trust me, compared to what we used to have to decipher/read between the lines, is very welcome. Let's see what happens for the rest of the year.
I think they've got enough sites with a consent to keep the lights on (by selling them) Flying Higher but I'm not sure what the future holds.
Tbh - wicks might be best coming back -he's a deal-doer (knows everyone).
Not great is it ; everywhere you look, there are issues, loads of issues. But......they are right on one thing. Consented land is in massive demand. It doesn't matter whom owns it or how much grief they've had in capturing the consent.....all they are interested in is the consent. That's the one ray of light in all of this.
Might look at the Z shares and have a think about them.....can't see much value in the actual shares.....unless a buyer comes in and pays near the 40p valuation......
Non kosher saveloy! Please don't blaspheme Worst! :) INL need to put something positive out pronto to allay investors fears imo.
totally agree. If it's carnage internally....we need to know. But if it's not.....we need to know. It's not difficult.
Hopefully that's because he's been given an epic alternative offer rather than, what I suspect is happening; he's realised it's carnage and he's bitten far more off than he can chew. (yes, I'm a pessimist)
Hopefully we'll have some sort of Acuity update from Drumz soon? (living in hope).
And no debt. $900mill in cash and no debt. And america hasn't come on stream yet either. Bodes well, hopefully, for the future. Only issue is the cost of acquiring new customers and keeping hold of the high net worth consistent traders.
which is nice in itself tbh - Plus has had a habit in the past of dropping bombshells in these trading updates (but they've couched the bombshell in Plus speak and so a certain amount of deciphering and reading-between-the-lines has needed to be undertaken by the collective to uncover the actual truth). They've stopped doing that in recent years however.....so to read that update and not have to worry about deciphering is a postive in itself.
So INL have just won their appeal at their site (on the edge of) in Framfield (Wealden District). It's captured a consent for 58 homes.
There's massive demand for consented sites at the moment so I fully expect this to be sold too.
I think people are bracing for the bad news (I would expect the new ceo to dump al the bad news early doors, blame the old management and then hopefully move on upwards) before piling in.
But Drumz are trying to sell their shareholding aren't they? If they've still got it - doesn't it lower the value of their holding?
Chaps - bearing in mind Drum's legacy investment in KCR (when it was Energiser)......best keep an eye on that company and it's......shockingly bad share price performance......it's tanked 35% in recent days........
Anyone have any views on why? And that then brings me to....why has Drum's share price strengthened in recent days?
Any ideas why the share price has fallen?
Surely we're due an update on things soon? Feels like we're treading water yet again.......sincerely hoping for new of some proper progress.
They've underplayed it somewhat, in my view, but to capture planning for 1,500 units in such a quick time (19 months from application submission) is stunning. I can't comment on the £19.5mill (whether it's a fair reflection of the terms of the deal ....but £19.5mill is £19.5mill....in this market that's alot of firepower.
That actually validates INL's business model in that respect.
It's just that the last 5 years have been absolutely ****e across some many elements of the development game. About the only thing that wasn't broken was the mortgage market/buyers market.........whoops.
Separately - I am seeing and speaking to alot of one-man-bands or smaller businesses with a bit of property or land and we have definitely seen an uptick in responses (we're not seeing desperation in the selling prices....people still want to absolutely max out their receipt, which is their right of course). Perhaps others that swim in the development game can comment - but we don't speak to fixd-charge receivers and the like so I can't comment on whether there's more distressed sites coming to the market than normal.
That $950m in cash is worth alot more to us (in the UK) than it was 3 months ago.......
Ha ha ha Skid! :)
(er, same here......)!