Member Info for ragnarlothbrok

A Motley Fool write up is generally a trigger to sell. Those guys are jokers But happy with the movement today nonetheless, I'm overweight on this one

37.75/40.10. MMs looking for stock

Yep rhodium up 59% so far Q118 v prior year. Very little rhodium or palladium supply floating around. Unfortunately there is lots of Pt and its is down 13% YoY so far. By my calcs total basket price is 10% lower. Some tough comparatives from last year with platinum averaging close to $1100 for Q1

Woodford been having a terrible run lately...Provident, Allied minds, the list goes on

...can't be many sellers

Great news then!

Some interesting commentary out from Liberum today who were expecting a cash balance of £32m rather than the reported £47m. Hopefully augurs well for the full year earnings result.

What kind of earnings are you expecting in 2017 and 2018 to support that? Is this driven by multiple re rating or earnings growth? It would be good to get others' views on how a market cap of £150m would be dervied from multiple x earnings

I think the increase from 55/60 to 70koz is mostly attributable to Phoenix which looks to be contributing around 9koz

Normal industry retail sales/EV multiples would support a value well in excess of £200m. But it seems to me Game is structurally unbalanced and needs a proper slash and burn to cut costs and get rid of the garbage revenue to make some proper margins

It would be good to see they are also doing something about costs in their trading statement. There is an £800m cost base, surely £10 or £20m could be hacked out. I'm assuming that given so many stores' leases are coming up for renewal in 2018 some of the most unprofitable stores will be closed

How does a retail company with £800m revenue and cash of £47m have a market cap of £58m? I've decided to take a position, surely even the most incompetent management team can squirt out a 2% NPAT margin on £800m revenue. If so this is worth at least £100m

The point about sustained price improvement is in the investor presentation corporate strategy section. The other points I'm not sure of the source. I'm reasonably certain management wanted to make sure Echo was fully funded and consistent output confirmed before committing to (sustainable) dividends. The buy back of Australian certificated shares was an administrative matter which I believe they have been intending to settle for some time. Either way I'm expecting a dividend next year.

The point about sustained price improvement is in the investor presentation corporate strategy section. The other points I'm not sure of the source. I'm reasonably certain management wanted to make sure Echo was fully funded and consistent output confirmed before committing to (sustainable) dividends. The buy back of Australian certificated shares was an administrative matter which I believe they have been intending to settle for some time. Either way I'm expecting a dividend next year.

I'm looking for H1 EPS of 0.75p and an interim dividend of 0.16p. GLA

Shareminator I believe that mopping up that ASX stock was one of the conditions for commencing dividend payments. The other conditions were confirmation of the success of Echo and a sustained recovery in metal prices. If prices hold up at these levels I believe that by completing this buyback the BOD has opened the door for dividend payments to commence, most likely at the next reporting date

Deutsch Bank reiterates sell with a target price of £5.00. Jokers

Finally the pressure of the higher copper price has led to a break out beyond the 220 range to 227/229. Perhaps our sellers have given up. Took the opportunity to sell a quarter

Looks like our mystery seller is Fidelity. I wonder if they are liquidating their whole holding

Welcome aboard isolt. Its a great price you've joined at. It's been a real rollercoaster for me on this one for several years now, hopefully the only way is up!