Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Brighty
I am long here and love the optimism. We discussed target prices a little while ago here. I think in the end the consensus was they were rubbish! :) I would take anything over 200p again. We briefly had it last year. Would like it again before the year is out! Then we can talk about 250, 300 and 320 :)
It has jumped a bit more than has been this morning. Was reading some comments that a Biden speech re being confident of avoiding a default boosted the Dow and Financial Stocks.
Wall Street stocks advanced on Wednesday as investors grew more confident the White House would reach a deal with Congress to avoid a government default.
Wall Street’s benchmark S&P 500 closed 1.2 per cent higher on Wednesday, driven by gains in the financial and energy sectors, while the tech-heavy Nasdaq Composite rose 1.3 per cent.
The KBW regional banking index gained 7.3 per cent, with lender Western Alliance surging 10.2 per cent after reporting late on Tuesday deposit growth in the current quarter.
Badjob - I know this is simple, but 4 quarters like today with no scandals/fines and this will keep moving north IMO and get to c200 by end of year (maybe higher) Could even get a nice boost if a higher interim divi is announced.
Superb set of results. However, I have learnt over the years that the market doesn't often respond the way I expect following results announcement.
If this is not up today then I am not sure what it will take!
All done for this round of buy-backs.
The Company announces that, following the purchase of these shares, the share buy-back programme announced on 16 February 2023 has completed. Since the commencement of the buy-back, the Company has repurchased for cancellation 343,041,720 ordinary shares in aggregate at a volume weighted average price of 145.7549p per ordinary share for a total consideration of approximately £500 million.
Ignore that! Thats why he is an expert I am not!
From what I have learnt, if you would have purchased at 180p when he said, you would have had the following
First Return of Capital (March) - 158p
Second Return of Capital - 55p
Plus Current Share Price - 19p
So a total of 232p for the 180p investment!
It happened in March when they sold property. (BIg drop but c150 given as payment via B Share) It then looks like they have one last property to sell. The proceeds of that will then be given to shareholders.
So all in, it looks like its just a winding down of the business and proceeds of sales distributed via B shares.
I think I may get it!!
It looks like if you hold a Ord Share on a certain date, you are entitled to a B share.
The B Share is then what gets the 55p payout (not the ord share). I assume the date has passed hence the drop today as people are offloading the Ord Share (but will still get the payout)
So in summary although there has been a big drop today, that is not really lost as made up via a payout on the B share.
I could be wrong but its something like that!!!