Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
DenH, what ever happened to Project Spring?
"Vodafone Group trumpeted its return to organic revenue and EBITDA growth for the first time since 2008, although its reported numbers were hit by foreign exchange movements. In a statement outlining its full year results to end March 2016, chief executive Vittorio Colao said the company had concluded its Project Spring investment programme."
(https://www.mobileworldlive.com/featured-content/home-banner/vodafone-talks-up-positives-as-project-spring-concludes/....17/05/16).
Now we have project 'Liberty' (named by me). Let's hope the new assets are worth all that money and will transform the prospects for VOD....unlike project Spring.
JD, funnily enough I was thinking of baling out VOD but haven't quite decided to take my 'medicine'. VOD seems to be directionless & (personally) I don't really understand what they are trying to do. So it could be a wise move to take the hit and move that money into something with more potential...although some will probably question LLOY (given that B thingy is about to hit the fan). Long to medium term (& as an income stock) I reckon anything approaching 50p for LLOY is a pretty good price. LLoy is almost a bet on how resilient the UK economy will be in the next year or 10. Let us hope that the politicians don't take us down the path to economic suicide...IMO I reckon it's all a bit of a bluff and they will chicken out before they pull the 'No deal' trigger. Here's hoping. All the best for your LLOY investment. Regardless is a now a steely-eyed missile man I suppose!!!
Where is this tax demand coming from....is it from the HoF business or from Sports Direct. It's hard to see how HoF was generating enough business - never mind routing it through Belgium - to create a Euro 600 million liability. This is a total balls up oy a pi55 take!! Did Boris Johnson arrange the deal??!!
Have they told us what they intend to do with the shares in treasury?
Some have suggested that they could use them to buy other companies (a la RTHM) or perhaps they will cancel them to boost the EPS.
"If the funding to develop Britbox is only £65m, it is not going to be a game changer"
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It could be the sign of a company playing 'catch up'....and £65m is significant if it is a yearly cost with escalating investment and no significant income or profits generated. Hopefully it will be money well spent and generate lots of revenue but it does smack of too little, too late (IMO).
"BUT, there is not need for the constant cut and paste rubbish and the regurgitation of old news. He or she is one sad lonely individual to spend so much time on constant negative comment.
Sadly I do agree that the company have constantly over promised and under-delivered. A sorry state of affairs compounded by a lowlife scum poster, who likes nothing better than to gloat and say I told you so."
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RB, unfortunately for shareholders (of RTHM) you are 100% correct. Up to this point RTHM has been a bad investment....but tomorrow is another day...perhaps!!!
To be brutally fair, if say a year ago (or perhaps 2 years) a new investor had taken notice of what Stt1 wrote and steered clear of RTHM then looking at the SP right now they would be quite relieved.
This is nothing to do with Stt1 being correct (or some sort of guru) but more a sad reflection on the countless broken promises by RTHM....there is always a jam tomorrow. Indeed by now (based on forecasts & hints at inflection points) RTHM should be safely in profit (real profits and NOT EBITDA) and have single digit P/E.
I have said this before that the problem is not Stt1 but the inability of RTHM (and perhaps!! TAP) to deliver the jam.
Tricky, I'm not sure if the wasp analogy works. If we had jam - plenty of jam - then the wasp would 'probably' go away. Indeed if we had the jam we wouldn't care about the wasp (other than to laugh at it) because we'd be too busy enjoying our jam.
The annoyance isn't the 'wasp', it's the lack of jam IMO. Without any jam the buzzing of the wasp is really annoying because it's constantly reminding us about the lack of jam.
I suppose now we have to discuss what flavour of jam people would like??!!
Isn't the anger & annoyance misdirected somewhat. Surely people should be annoyed by the constant 'jam tomorrow' message of RTHM. Just at the point that RTHM was due to shift from EBITDA into actual profit (according to forecasts) then they sell out to TAP...who then tell us that RTHM numbers were below expectations. Constant jam...there comes a time when being told that the jam is in the post but it never arrives, can become a little tiring.
Surely it's not about some insignificant poster says, it's whether RTHM and now TAP actually deliver in their results. If TAP start producing solid results then naysayers will become less annoying IMO. Come on TA, tell us that the jam is in the post, next day recorded delivery!!
What dividends?
This is on the TAP discussion board:
"Effective Date of the Scheme 1 April 2019
- Admission of the Enlarged Group to trading on AIM by 8:00 a.m. on 1 or 2 April 2019
- Delisting of RhythmOne Shares by 8:00 a.m. on 1 or 2 April 2019 (Suspended 7.30 1 April)
- New Taptica Shares issued to RhythmOne Shareholders by 8:00 a.m. on 1 or 2 April"
Ananda does seem to have gone very quiet after all his 'enthusiasm'...I guess he/she has got what they wanted and moved onto something else.
There was always going to be a lot of shares purchased during the rights issue at circa 7.5p floating about....despite the recent drop, those shareholders may be willing sellers (assuming they haven't already offloaded).
I expect the P&D crowd will return...it worked so well this time. Maybe nearer the P3 trial results....maybe tomorrow.
"Ken James stated there is the potential of a regulatory submission in th EU in 2020 if the med gels data is so compelling and basically safe, and everything I heard in that presentation indicated a high likelihood for that to be the case." [thomasbrowne]
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TB, I was aware of the possibility of an early regulatory submission in the EU (not USA btw). But that requires that P3 part A provides compelling data...not a certainty and so a shareholder needs to plan on what is most likely i.e. regulatory application in 2021.
Early regulatory approval would be a bonus and would mean that the trial data was outstanding. Obviously, what is compelling to FUM many not be compelling to regulators...so best to stick with the 2021 date in mind and not count our chickens too early. Any long term investor in FUM will tell you to expect things to take longer than expected or desired.
I watched the webcast. It is 'probably' suited for people who don't know much about MED2005. But it was very long, too technical in places and fairly boring. So Hawkshead is right to avoid it IMO...you aren't going to learn much new or to your advantage.
Some thoughts of mine:
- Mr Barder took a back seat, he is probably still getting over his loss of credibility.. Ken James seemed to take a lot of the load.
- Professor David Ralph was fairly pointless...a +30 minutes pointless history of ED treatments....not much on MED2005 from him.
- The explanation on DermaSys was useful to those who don't know how it works.
- P3 part A - results Dec 2019
- P3 part B - results End 2020
- Regulatory approval application most likely to start in 2021
Other things they didn't mention:
- Dermasys isn't patented...it's a trademark. It's the formulation of the solvent & active ingredient that's patented
- The status of attempt to increase patent life of MED2005
- P2 onset times for MED2005 were the same as placebo....so they cannot really make the 5 to 10 minute onset time claim IMO. The P3 trials are designed to get more data about onset time & duration of action.
I'm 'almost' glad to be rid of RhthythmmnOne...I never could spell the damned name. Taptioca is SO much easier!
Jam on TAP
Presumably the 16 to 19 offer is required to make TAP the dominant company....but the offer also seriously undervalues R1 (I think most of us can agree). So we are really swapping R1 shares for an investment in TAP at a not very good rate for us. Do we really want to invest in TAP? Or is the merged company more valuable than the individual entities (based on R1's previous 'investments' then possibly not).
Even if TAP shares rose to 400p that wouldn't value R1 as very much (given that R1 pre-YUME was over 400p itself). I know, it's all historical stuff but it does make you think....especially when R1's 'profits' (stop laughing) are about to take off....certainly not guaranteed based on R1's SP alone.
Needs some additional cash on the table to seal the deal IMO...we should be able to tap TAP for some folding stuff.
It doesn't look like a very good deal for R1 shareholders. It makes our management look very needy...which makes me think they aren't comfortable about R1's performance as a standalone entity going forward.
TAP are saying: "We don't really need you, but at the right price we would be interested".
Perhaps R1 shareholders would be better off long to medium term with a combined outfit....but short term we are losers. It would be nice to see some cash on the table.
But I suppose it's not our decision. The big players will get their way.
More jam tomorrow....just a different flavour.