Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Follow link:-
https://www.lse.co.uk/rns/DSM/net-asset-values-2xg86agbd0r2hrz.html
Could it be the new product PRIMA ?
I believe Fire Angel has valuable technology, but if the legal case succeeds it looks like some will have tjeopportunity to acquire it for a bargain price.
I believe the current buyer is getting it cheap so the current buyer may wait in the wings to acquire the company if the legal case fails or buy out from administration for an even cheaper price if it succeeds.
It's possible there will be a flurry of DSM sells on Tuesday by dismayed PI's.
Update from Investor's Champion paid for tip site :-
HTtps://www.investorschampion.com/channel/blog/bonkers-bargains-1pm
Trading update for 9 months ended 29 February 2024 (26/03/24)
Continued strong demand from UK businesses for the Group's multi-product offering is driving further growth in own-book lending origination which has contributed to a record gross lending book of more than £190m at the end of February 2024. That’s the eleventh consecutive quarter of loan book growth for Time Finance.
For the 9 months revenue is up 20% to £24.0m and pre-tax profit 40% higher at £4.2m, surpassing the level achieved for the whole of the previous year. Revenue continues to be driven by strong growth in the larger-ticket, more secured lending areas of Invoice Finance and the 'Hard Asset' subset of Asset Finance.
Despite the very strong growth it is reassuring that net arrears remain unchanged at 6% of the gross lending book at 29 February 2024.
Net Tangible Assets at the period end rose 14% to £37.6m.
Full-year results are anticipated to be “at least in line with the market expectations” as upgraded on 5 March 2024.
Broker forecasts
Following the trading update covering the 9 months to the end of February (see above), the house broker upgraded forecasts for the year ending May 2024 for revenue by 2% to £31.5m, pre-tax profit by 6% to £5.7m and earnings per share by 6% to 4.6 pence (growth 31%).
For May 2025 forecasts remain for revenue of £33.1m, pre-tax profit to £6.3m and earnings per share of 5.1 pence (growth +11%).
As anticipated Time Finance appears to have ridden out the Covid storm through its multi-product lending offering and the flexibility of its business model.
With the significant government support packages no longer in place post-Covid, and with the ever-increasing economic challenges facing small businesses, access to finance will be a key priority for SMEs over the coming months and years.
Bonkers Bargain appeal
At the current share price of 39p (initially 17p) the market capitalisation is still a lowly c£36m, a c5% discount to net tangible assets at 29 February 2024 of £37.6m, which has also been subjected to meaningful provisions. Despite the strong share price performance over the past 12 months the PE multiple is a lowly 8.4x forecast earnings for the year to May 2024. Prior to the pandemic impacting returns, which pulled down earnings per share to 2.6p for the year ending May 2020, this business consistently delivered earnings of more than 6p and 6.8p in 2019 - net income of £6.35m. This equates to a normalised price earnings multiple of approx 6.5x.
While the shares have had a good run over recent months, they remain well down on previous highs and this business continues to look ridiculously cheap on many levels. The Group's multi-product tailored offering to UK SMEs, its own-book lending strategy and its quality of service have become ever more appreciated by introducers a
Fire Angel legal claim :-
https://www.lse.co.uk/rns/FA./statement-re-legal-claim-vg3ziygsn478x6s.html
Results were reasonable IMO. Nice to see debt coming down.
However, more to do to attract the crowds ...
Share price not making any progress today, but hopefully that's a few more of Downing Strategic Micro Caps holding in HSP sold off.
Downing Strategic Micro Cap I.T had 3.89% on 5th Feb and they are winding down so selling off their holding.
Thus that will probably restrain share price until they are out..
The market is starting to warm to Time Finance. First bought this at around 17p back when they were 1pm in the days of the pandemic.
However, Ed Rimmer deserves a lot of credit for putting them on the growth path and even in these difficult economic times they are making excellent progress.
Encouraged by the results and generally they seem to have a handle on putting HMRS back to profitability.
Nothings certain in this world, but assuming thing go to plan this share could do well over the next few years.
DYOR
Many punters took as a good sign for RQIH when on
16th Nov 2023 Scopia increased their holding from 8.01% -> 9.29%
However, they obviously had a rethink as on
21 Dec 2023 they decreased their holding from 9.29% -> 7.72%
Funds don't always get it right ...
Isn't it the high debt at a time of high interest rates which is holding PEB back.
It's chipping away at the debt, but could take some time to get it to lower levels.