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Courtesy 1gw ....Seeking Alpha Conference Call transcript...
"I think it's giving us the ability to do this move and to basically accelerate or grow the buyback and parallel to that to do an M&A deal that can be meaningful for the company. And this is what we are looking to do and ask and searching in the market for the right target in order to get it into our company, basically, and to grow also through and acquisition and not just organically." ... "And we feel that now -- also to M&A because the company is ready for that. And I think that we have the -- again, we have the means, the knowledge and the experience to make a good acquisition, and we're looking for the right opportunity in order to do this.
You can read finnCap’s latest and updated Research Note on Tremor International by registering (free) via the link below. finnCap retains a £17 price target for Tremor.
Well, I will not be selling down on the back of this call. It's tough out there just now and under the circumstances Tremor didn't disappoint me to the point where I'd consider selling. I believe as VIDAA and Spearad bed in and Tremor monetise the benefits from those integrations from this quarter onward, together with the additional ad spend projected for two major events later this year, the FIFA World Cup (which Hisense is an official sponsor of) and the US mid-term elections, that jam should come during the second half of this year. I will be holding, at least until then.
With the macro conditions as difficult as they have ever been during Tremor’s, (and this sectors) existence, these results and the Q2 guidance given, is good enough for me. Qtr1 is traditionally weak and so, in the prevailing difficult global circumstances we are operating in, it’s good to get through Q1 showing growth (yoy) along with similar guidance given for Q2. As VIDAA and Spearad bed in and we monetise the benefits from those, together with the additional ad spend projected for two major events later in the year, the FIFA World Cup, (which Hisense is an official sponsor of), and the US mid-term elections, it’s the second half of this year that I’m looking forward too now.
Rusty, it’s the statements that are not in tandem. The RNS says… The repurchase program will commence March 1, 2022, and will continue until either September 1, 2022, or until it has been completed while FinnCap says, Tremor has announced that its board has approved a $75m share repurchase program over the next twelve months
Re the buyback …RNS 24th Feb 22…The repurchase program will commence March 1, 2022, and will continue until either September 1, 2022, or until it has been completed.
As I read it, this statement is saying the buyback will end on the 1st Sept 2022 unless it has completed before that date…. FinnCap Note 24th Feb 2022…Tremor has announced that its board has approved a $75m share repurchase program over’ the next twelve months.
Disheartening that FinnCap are not in tandem here. Anyway, despite FinnCap’s lapse in detail I’m grateful for the support that this $75 million repurchase will provide for us over the next 6 months. It takes us well into the 2nd half of the year and it will neuter the short brigade along the way while the market sorts itself out and our VIDAA/Spearad combo gains traction.
SNN. If we get a strong set of results and a good forward outlook from Pubmatic on Monday, I think it could bring with it some further uplift for the sector and add support to the current upward trend, at least in the short term.
Access to Pubmatic’s CC is within this link, for those interested…
You all know that I don't read any of Canute' s clap but I do see the last post header.
Forget about Alphonso. We have a whole new world of Hisense ACR data coming into our connected TV platform from the 1st May. Hisense is growing its TV quality and ACR offering, and it brings Tremor an unprecedented exclusive partnership with an international and geographical bent that no other full stack platform can offer. Twenty million households now and that's expected to grow to 40 million during the term of our contract. So, it’s a growing asset. Two more qtrs like the last one and where do you think this sp will be? We already know what numbers to expect for 1Q22 and I’d wager a beat on those. That takes us into the second half of the year were the VIDAA/SpearAd combo kicks in fully on our new connected TV platform. Sensible punters are looking six months ahead already. Is it any wonder the sp is on the rise?
The Hisense TV range…. Https://hisenseme.com/all-television/?filter=netflix#0
The Alphonso court case, if not settled earlier is scheduled to conclude towards the end of this year. For those with a desire to follow the case activity the link is here. Click on the Documents tab. Good luck, it's a very long read....
Supports my previous assessment that the catalyst likely to drive the next wave of consolidation in the adtech sector is the rebirth of end to end platforms. Organic has it’s limitations. The driver will likely be the desire for lots of Data and ease of use. The ownership and control of first party data, currently held separately by the single sided adtech players, is so valuable but it's fragmented when harvested data on user interaction with ads sits somewhere else. It is becoming all too clear now that the total data resource can be more effectively and efficiently deployed on an end to end platform in that an end-to-end allows the user to run campaigns with the click of a key and layer data from both the SSP and DSP. Going forward, we may well see the rebirth and reformation of end-to-end platforms at scale. This process will drive takeovers and mergers and create some bemouths along the way. Makes Tremor a really attractive proposition, don’t you think?....
extracts…. Do you think some DSPs will just cut out SSPs entirely if they can?
Yes. Anecdotally, I see a trend in platforms trying to cut out middlemen or intermediaries.
How do advertisers benefit by going through an end-to-end platform rather than working directly with publishers?
An end-to-end platform is the promise of programmatic media and ad tech. It allows advertisers to run campaigns with the click of a button rather than having to go through multiple different parties. Going directly to an SSP is going to offer you scale, flexibility, efficiency and automation. Playing both sides of the coin is really beneficial for advertisers because they can access the same data regardless of the platform they activate on. If an advertiser is really attached to a different DSP, for example, we can still layer that data on the supply side through our SSP.
Malbright06....The TTD’s share-based compensation for 2021 was $337million, for 2020 it was $112million, for 2019 it was $81million, in 2018 it was $42million and in 2017 it was $21million. Since 2017 the Trade Desk’s share price has grown from c. $4 to $78 today, having peaked at c. $108 in Nov 21….I’ve said it already, if we keep producing the numbers (as we did today) we will be fine. Another two solid quarters like this one and where do you think Tremor's share price will be in comparison to were it is today?
Some Pro’s (and pro’s). Smart TV verses steaming devices/sticks.
SNN….Perhaps this below (at least partly) explains the reason why there are so many relatively modern smart tv’s in the skip these days.