Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Trenners, I find this site, that was posted on a board previously, very helpful for FTSE promotion and demotions. It's not live, but does get updated regularly atm. So bmr on current figures, we need 39p for FTSE250 promotion, though likely to change one way or other before the end of August cut off date. (For the FTSE100; 250p+, I would love to see that, but a long way to go to get there, hope this proves me wrong ££££)
http://www.stockchallenge.co.uk/ftse.php
A review of heavily-sold mid-caps has named Future FUTR1.78%, Kier Group KIE 1.69% and Rank Group (The) RNK 1.39% among stocks where 2022’s slide in market valuations appears to have gone too far.
Peel Hunt also includes Grafton Group Shs GFTU 0.90%, Impax Asset Management Group IPX0.53% and Kenmare resources KMR 0.90% after the broker’s analysts picked “six of the best” from this year’s stock market sell-off.
It believes the risks implied by the market on the six firms look excessive on a two-year view.
On Kier, the City firm regards the infrastructure services and construction business is an “incredible buying opportunity” at 71p. It notes the FTSE All-Share company has de-rated by 45% in the last year to 3.7 times 2023 earnings, despite unchanged estimates.
Analyst Andrew Nussey believes the improving quality of earnings and free cash flow remain materially undervalued, leading to a 200p target price. He added “Management is delivering, and we believe just continuing to meet expectations should drive a rerating.
“However, we see potential upside risk to 2024 estimates through organic outperformance, as well as from modest bolt-ons. The likely return to the dividend list 2024 is notable, but the strength of the free cash flow could unlock other accretive actions.”
https://www.ii.co.uk/analysis-commentary/are-these-six-fallen-mid-caps-now-good-value-ii524630
https://www.lse.co.uk/news/DRX/
(Sharecast News) - Electricity generators will be spared from the government's tax net, a spokesman for the Prime Minister said.
When asked whether the windfall tax on oil and gas producers' profits would be expanded to include electricity generators, the spokesman told Reuters: "We would not seek to make any new policies or major fiscal decisions. So there's no plans to do that.
"We will continue to evaluate the scale of the profits and consider appropriate steps but there's no plans to introduce or extend that to that group."
As of 1308 BST, shares of SSE were trading up by 3.22% to 1,748.0p on the back of the news, while those of Drax had shot up 8.44% to 713.0p.
I don't know how much disruption to RBCT deliveries is caused by cable theft v loco availability , but there is still a huge number of incidents of cable theft on the Transnet system. They publish figures for daily and weekly incidents (though not always reliably) on their website. Also, according to the recent article below, it has crippled coal supply to a local power station.
https://www.transnet.net/Media/Pages/Cable-Theft-Stats.aspx
https://www.miningweekly.com/article/cable-theft-disrupts-coal-deliveries-by-rail-to-majuba-power-station-2022-07-06
https://twitter.com/angusenergyplc/status/1536679860034318340?s=20&t=7FJ07rY_mFRMlszVH4UamA
Hate to post anything from the ***rdian, however news on EDF and possibly Drax. Anyone have a view of whether Drax would accept keeping coal generation available in face of bad publicity against renewable credentials?
https://www.msn.com/en-gb/news/uknews/uk-close-to-deal-with-edf-to-keep-coal-fired-power-station-open/ar-AAYp5nM?ocid=spartanntp&li=AAnZ9Ug
Mining Weekly report of update:
https://www.miningweekly.com/article/increased-coal-demand-buoying-thungela-exports-but-high-costs-a-challenge-2022-06-13
A real shame the buyback resolution wasn't voted through, at the current share price the cash could be put to good use and avoid the withholding tax on the divis.
Newboots, hope you got a good price on the top up, recovering nicely now.
With the pre close statement due on Monday, I thought I would share my rough estimates of possible 2022 dividends/excess cash before the update, though the released information may only include basic figures with full divi details coming when full results published.
2021 accounts: Coal price realised 12 months $104/t at discount of 16% giving av RBCT price of $119.5, export equity sales 13.9Mt.
1st 6 months 2022 RBCT av approx $260t, TGA discount ?
2nd 6 months 2022 RBCT av approx $267 " "
Est tonnage railed 1st 6 months 2022 7mt?
2021 R6B held back as liquidity buffer, no need to hold back more? (= to approx £2.30/share)
2021 Divi paid 91.5p pre withholding tax.
With the option of buying back shares unfortunately voted down at the AGM, my estimate is in the £5 - 6 pretax range for excess cash/interim divi for H1, followed by the same again for H2/full year, barring exceptional items/changes in coal price/ railings issues/ acquisitions?/ diversification? etc.
Anyone else have any estimates, corrections or ideas of what they may decide to do with the excess cash?
Link to sign in or listen to AGM as a guest:
https://apps.computershare.com/MeetingsShareholderWeb/Attendee?Code=MVH664F&Invitation=&Locale=en
I suspect it's the rail strike threat, though I'm surprised that the drop is all this morning if that is the case, as it's been a possibility for a while.
Tweet:
https://twitter.com/angusenergyplc/status/1528728427347558400?s=20&t=pFlmGxYWrHORKzCWpuLP5g
I have been monitoring some of the bulks leaving the RBCT coal dock recently and some are making the long trip round the Cape to Europe.
Xiao May, left RBCT on 16th March, arrived off CIVITAVECCHIA in Italy yesterday
https://www.marinetraffic.com/en/ais/details/ships/shipid:6536274/mmsi:636019499/imo:9891878/vessel:XIAO_MAY
Rainbow N, left RBCT on 21st March, en route to PLOCE in Croatia
https://www.marinetraffic.com/en/ais/details/ships/shipid:716136/mmsi:538006420/imo:9488803/vessel:RAINBOW_N
Bahri Grain, left RBCT on 5th May, currently en route to Italy
https://www.marinetraffic.com/en/ais/details/ships/shipid:475394/mmsi:403517000/imo:9660528/vessel:BAHRI_GRAIN
There may be many more, as I only see a few of the departures.
Gone very quite on here re Withholding tax, any successes?