Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
did it work out?
Prepare for a rise - I heard Berkeley was relegated to FTSE 250 which often means a few months of rising prices as II's resettle their portfolios.
It's an aspirational sales pitch. Like any CEO would do really. But I don't know what it's USP is. I also don't know what it's balance sheet looks like and apparently there is a loan in there but how much. The shares are tightly held as well so I wouldn't buy until we see first results. But I wish the company well.
I don't really agree with the comments on DB. He does understand the industry he is in and he is very enthusiastic about it. There is a product there that companies will buy. Did he hype COMS? Yes he did. Did he hype COMS to get one over on investors? I don't believe he did. He had a belief in what he was selling and that is what a lot of people followed. Did people lose money...most definitely, but, and I do have sympathy over that, as an investor you need to make your own decisions and a risk factor will always be that the CEO beliefs and hopes for the company they lead will not be achieved. That does happen an awful lot. But I haven't seen anything to ever suggest he didn't believe in what he was doing. Now, I think the issue was three fold. Firstly, I don't think the acquisitions really did much for COMS and I never could really see the "synergy" of them. Secondly, it was quite a top heavy sales model and I wonder if the balance was right there. Thirdly, DB came from owning and running a business to one where he was really answerable to the board and shareholders and that can be a difficult dimension. My investment concern with Toople is not in any way with DB. Far from it. My concern is the market cap attributed to the company given the low amount of cash investment from the "founder" shareholders. Look at the spread, the volume etc. I would consider this an investment at a MCAP of £1m AND provided the marketing campaign is launched in the first period. However, someone in the market was prepared to pay £2m for a 1/4. I just am not going to follow it. GLA
How did this new issue get a MCAP of £9m??????
but, the 5 yr trend has been for the SP to increase steadily but with a few bumps.....the company has posted almost exp increases that the SP sort of lags....I was thinking of ditching these this week and then when I looked again I thought that actually INL is doing a great job so at some point it will catch up....plus, this is a market maker controlled share....they want to just churn it a bit. Give it six months for a 25% rise from here.
other than holding in an ISA, I thought the div payment would be subject to income tax at the highest marginal rate (depending on your tax status). If not in an ISA is it better to sell now?
this share has an upward trend line so it has some big movements around it but it always seem to snap back....my money is it will spike back in a day or two so may be worth buying a few more to take advantage as its not really possible for the price to carry on dropping before being pulled back up.
Is my short term view....but worth at least £1.
I am expecting a rerate....it is a small but well run operation. in this housing environment it should post good results.
Think about INL this way in light of the recent market turmoil...how does Russia, China, Far East affect INL? It really doesn't....the smaller caps got a drubbing yesterday which frankly was not bad given that many had held well given he descent of the FTSE100 from 6700 to 5900 in a few weeks. INL has therefore held very well. My view is that we will see 80p by the end of he year given the sustained numbers from INL...it is also a landbank target and I would say market value at £1+.
A forward PE of 10 with 2 years earnings growth of 80-90% per year. Cash to acquire land and up the divi. When benchmarked against the housebuilders and land flippers like Henry Boot, INL is cheap. I could easily see £1 to £1.10 - at a £1 if bought out (net 80p when you take cash out) the buyer would be getting a land bank on the cheap. Why are these shares hovering around 70p?
their CFO is a former banker....maybe he was finance minister for Greece at some point.
effective RNS?
I know.....I personally don't like goodwill......write off needs an impairment analysis.....my point is I discount it from NAV......because what is FMV? Its what the execs agreed to pay.....its what someone else might have paid but I discount it when looking at numbers because its a judgement that may have a large degree of misjudgement. I see some commentary on long term contracts. I am trying to understand the debtor....not enough info - maybe its related to the reseller operation. They didn't announce a change to accounting treatment and an auditor would have picked that up (should have) so did something change in the contract relationships?
I agree. As has been commented elsewhere, there was a substantial increase in debtors and this has not been explained in the accounts or commented on in the H1 update. They increased borrowing by 20m without explaining what it was for, when cash already existed. There is a reference to long term contracts...have they booked the revenue for these as it would explain the debtor and possibly the borrowing for working capital..but, not efficient. I do not like companies that park goodwill on the balance sheet...I prefer firesale accounting to some degree. I like the company, but the CFO has not explained the accounting peculiarity in sufficient detail. This happened at QPP....I do not want this company to go the same way but if you have used some accounting technique and inefficient capital management to produce yoy growth results then you need to be clear about it. The accounts aren't there for CXO's to pat themselves on the back...they are there for shareholders to assess the company and if you can't trust the numbers then you can't trust the execs and that is not a share that inspires confidence. Now, this is not a deramp....its a question and I think its worth putting that to the execs to clarify and that clarity is how you get the quality to show through...at this price it isn't showing.
80p very soon. The div will cover my buy in costs and I think we are talking 2 months for a 14% gain. And yes, Gov announcement is good for INL. I would recommend buying now to anyone sitting on the sidelines. Some good research can be done on this share...its a quite well run company. Their CFO is pretty sharp...you always need a good numbers person in this business and he is doing well.
The thing that is potentially missing here is insight to the Wilton Park development. Beaconsfield is one of the most expensive places to live outside of London....I know...because I live here / there. 350 units on prime land in a really sought after area, wee distance from M40, 1 junction to M25, 30 minute train to London....this company is not showing its true value at all. Its just itching to move up.
That's divi income. The form you complete is for the shares to be paid out without any deduction of tax. if they taxed the purchase price then they would have taxed the original capital injection and that is not how taxation works.
Ignore the £4 offer for the moment. This share was climbing as investors got more comfortable that this was an admin issue. The offer comes in and then the upside was forgotten...so lets all forget the offer...its what Playtech consider to be a good deal....if it wasn't there this share should be riding upto and beyond £4 anyway.