Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'd take 6p just to be out of this p o s. Worst managed company I have ever invested in. Shocking....
He is sending a message I suppose. I also listened to the interview that someone posted a link to last week. I thought it was the best I have heard from him in a while, maybe a false dawn or wishful thinking but I thought he seemed very clear and on it. It made me remember why I originally invested here. Again maybe wishful thinking on my part but I think we have probably bottomed unless something unknown drops. We all know watching this each day eventually confuses you on LT direction.
What an utter mess this CEO has let happen. Chairman should be ashamed. 18m market cap for a business with its main asset worth hundreds of millions a year in revenue. Shockingly bad management.
Never mind only the old shareholders who pay - eh? The absolute clincher for me was during he presentation "we only have time for a few questions" this having seen the SP fall by half formats previous fall by half. Utterly contemptuous.
Mr Market has given this deal a big raspberry. Now down 16pc since the announcement. Bored Managers do stupid things...
Looks like Ludlow Thomson had an office there. My guess would be they are moving back office staff out of London. IIRC the Chiswick HQ lease is coming to an end soon. They'll ditch that cost soon and move those that don't need to be in London to a cheaper location and downsize the size of the HQ.
He also mentioned the would amicably withdraw from ECO. Means something like 55m shares to be dealt with. Assuming a farm in comes how will ECO manage that? I would guess they will seek to buy the stake back? So farm out funds might need to be diverted to AOI. Just guessing obviously, maybe they can find another investor.
To see the level of algo trading starting to nudge up. Institutional trading has been returning. Could be someone trying to pick up stock on the cheap post the results?
It will get taken out shortly. This is chump change for Viatris and they could take it out for less than they are committed to pay by 2025 anyway. No brainer...
Q4 result is poor whichever way you look at it. Bad or worse than bad. I would imagine CEO has his jacket now hung on a very shaky hook.
yep. new cfo has lifted up the stone and found ****roaches underneath.
Hmmm
I'm sure he is looking at the value creation possibilities but I would have preferred the 25m being handed back to shareholders which I'm sure would have had a very positive impact o the SP.
One way or another this shows the crazy vacation of Kistos. He just spent 20 odd pc of the current market cap on a Cheshire storage facility. Either the market has it very wrong or he has!
Each time existing shareholders have been diluted it has leaked. I'm not saying a raise is imminent but they have a history facilitating the trading pre news.
I agree, it seems to be a slow deflation and there could be any number of reasons why there is a seller. Just seems strange to me with the company now in better shape than it ever has been we are at a new low. Obviously I hope I am wrong.
Got to say I find this surprising and also a bit alarming knowing how leaky STX is. Having said that even if they miss the guidance by a few thousand Rx, the valuation and SP simply makes no sense unless there is something else afoot or PI's ( no large holders appear to be selling) are simply giving up. Very frustrating.
Wonder if there is a bid coming? If you were looking at FOXT then you would have to move soon I reckon. If they hit their 25-30m target in the next couple years then at 2023 PE you would be looking at 120p minimum plus the premium. Today you could probably take it out for a quid.
So, both at 10% discount to NAV means combined they will be at 10% discount to NAV?
Not sure this changes anything in the short term, although longer terms I imagine once rates start to decline we could see a positive impact vs do nothing.
Mkt cap now less than 2025 FCF forecast. Nuts..
I should have said, could be the govt take it out. National asset blah blah....
The financing issues still exist if its take private, so not sure what that solves.Ask yourself who would want to take this on in the current diamond market with the potential of massive investment required at current level of interest rates.
IMO this will bounce around at this level until there is a clear pick up in diamond prices. Might be time to get back in then if you believe a take out or take over is possible.
And apparently, judging by the tumbleweeds, have no prospect of drilling.
Looking at those 2 tabs I see around 36% of the shares in insiders hands.