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Tshipi dividend confirmed. Total proceeds to Jupiter are R1.1 Billion and the manganese price continues to trade between $5.50 and $6.00 / dmtu. I know people are reluctant to invest in RRR because they know Andrew Bell's shameless raids on the companies coffers, but why are Jupiter's shares trading so low?
https://www.jupitermines.com/cproot/838/3/20180910%20Tshipi%20Declares%20R2.0%20billion%20Dividend.pdf
The past year has been spent on reworking the gas processing facilities and setting up the LPG plant. This reduced production, drove up costs and delayed any new drills. Now that the new facilities are largely built this could turn into a cash cow, paying high dividends but with a limited life. Alternatively they can do more drills to extend the life of the company, but that comes with risk and delays shareholder returns. Ideally (for me at least) there will be a full buyout. The current shareholders bore the risk of the past years projects failing and, now that the production figures are coming back up and the LPG project looks to have been a success, should start reaping the rewards very soon.
The Chicago office is waiting for it's licence to trade. Once this is approved I think we'll go North of £10 a share
Looks like there’s been a few hiccups causing the delay at Steelmin, but nothing that’s a showstopper
https://translate.google.com/translate?sl=auto&tl=en&u=http%3A//www.opcina-jajce.ba/aktuelnosti/vijestinove/2332-otklonjeni-kvarovi-na-filterskim-postrojenjima-preduzeca-steelmin-bih.html
The cash position in the quarterly report stated that CAML are holding $40 million, a little less than they had at the end of 2017. With Copper and Zinc at multi year highs this didn't seem right, but on reading the annual report again I see there are "cash sweeps" of 33% of Konrad free cash flow less $1 Million done every quarter. These cash sweeps were likely significant, given the high metal prices in H1, and will probably cut the debt repayment time significantly.
Orion were a major shareholder in Weatherly International. As well as this they had around $100 million in outstanding loans from weatherly. On 1 June Weatherly was put into administration. Their main asset was a loss making copper mine, plagued by ground water that made it unprofitable, despite coppers recent rally. As such Orion have probably just taken 100 million hit and selling some of their stake in CAML might be a way to generate some cash. However, for the savvy investor, such a sale should be seen as an opportunity to pick up cheap shares in a massively undervalued company. I say buy now and if Orion sells, buy more!
I just saw this article which shows the convenience sector is actually growing. The old guards complete failure with Paypoints foray into electronic payments may just have been the luckiest thing to happen to them How convenience stores are surviving the retail storm http://www.bbc.co.uk/news/business-44224189
I have to admit I�d written this company off as a dying beast. However, the departure of the CFO last year and the resignation from the board of founder Tim Watkin Rees shows that the company is bringing in fresh blood to capita,use on the assets they do have ie a significant retail network. There was a deal announced with booker recently, which gets them into bed with Tesco. They have started taking prepay energy bill payments online to deal with the decline in cash transactions. This mornings results show that as the company transitions to a more service based structure, their earnings remain strong as ever. This is definitely one to watch
From the article below, Steelmin is looking good. We don't know the details of the loan they took to pay back RRR or how much more they needed to borrow to finish up, but from a pure getting up and running point of view it looks like things are moving. https://translate.google.com/translate?hl=en&sl=bs&tl=en&u=https%3A%2F%2Favaz.ba%2Fvijesti%2Fbih%2F377859%2F%E2%80%9Esteelmin-bh%E2%80%9C-ce-prema-ekoloskim-standardima-proizvoditi-25-000-tona-frosilicija
It looks like the El Limon gold money might start to improve. I don't know why no payments are reported but their production is up. http://pararesourcesinc.com/para-provides-update-february-2018-production-el-limon-mine/
This was due 1 April. Anyone know anything about why we've heard nothing?
Apple has dropped a lot today. They are a big Laird customer I believe. Perhaps that�s related?
Now they are in IG’s market and flaunting the FCA protections IG is boundto. Like a legal bar competing with one operates outside of licencing laws
The Times if Israel investigation started with binary options but if you read the articles in the link, you will see the people who were running them are diversifying into other sketchy products. Like all criminals, they are evolving
I have been a customer of both companies in the past. Plus500 allows you 300 times leverage and calls this an investment product. They mass market to the public with very little in the way of duty of care. They are headquartered in Israel where a huge problem is arising from companies like them operating with impunity. The times of Israel is doing a goo job to expose them. Follow the link below to see https://www.timesofisrael.com/topic/binary-options/ IG on the other hand, splits it�s spread betting and CFD businesses, making customers aware of the difference. If it is not too strict, I think the new regulation could be of benefit to IG, by closing down all the cowboy sites and getting the people who do still want to use products like these to use IG.
All this companies business is calculated in dollars. The pound has surged from around 1.31 in December to 1.42 today. The big copper and zinc gains have been negated by this. Still a very good company though. Definitely worth holding on to.
If AB gets his hands on �9M, you can be sure he'll flush it down the next toilet he finds rather than distrbute it to shareholders.
A few weeks ago Andrew Bell posted a picture on his twitter account of the chimneys going up at Steelmin, giving those still naive enough to trust him the impression production would start soon. In last weeks RNS it was said that part of the new Steelmin loan would be used to complete construction I.e. they have once again run out of money and are passing the begging bowl back around. When AB posted the picture of the chimneys going up he will have already known Steelmin was out of money, yet he was still trying to give the impression that production is imminent. Rrr still has some good assets. With AB at the helm that won�t last long
There is a risk but the company are diversifying to mitigate this. Going into more traditional stockbroking will keep the cash flow going but likely not bring in the money the CFD/ spread betting business does. Tapping into Asia is a different story. They have more money and are more open to high risk trades (or gambling to call a spade a spade). Last years crypto multi billion dollar currency surge was fuelled by Asian speculators. Imagine the potential for a company like IG
You can read this in one of 2 ways: Good: If this comes off RRR will be able to pay their debts, have strong cash flow and still retain a diluted 21% of steelmin Bad: Steelmin ran out of money and this loan is needed to top up. The terms of the new loan are not stated but the statement that rrr will own a diluted 21% does not sound promising. It�s also likely that dividends from Steelmin will be put on hold until this loan is paid. The salaries to staff, including to the new member of the board, I am sure will be paid from day one. Before deciding which of the above you choose, remember it is Andrew Bell you are dealing with