Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Haven't we got a £50M carry over into the later part of 2022 or have we lost this trivial amount in the sofa?
Like I said earlier, I believe that the 2022 results are being delayed so that they aligned with the NYSE quarterly reporting. If I am correct, this will be the first time that Burford will have had to simultaneously meet both reporting commitments at the same time. Indeed If that is the case, they have no template to work from so I can understand the difficulty and approval in doing so - on both sides of the pond.
The alternative is that they would have two separate reports to compile (as normal). This could now be seen as confusing, costly and time consuming.
Patience is required.
It looks like Burford will make money. But how much?
https://news.bloomberglaw.com/antitrust/sysco-accuses-burford-capital-of-meddling-in-antitrust-deals
Market Watch are reporting that 887.72K shares were traded in the USA yesterday (the highest volume for over a year).
Additionally, that shorts in the USA fell from 948.19K shares on 01/31/23 to 700.36K shares on 02/15/23. Yesterdays high trading volume is not yet reflected in the new reduced shorting figure above so I envisage that a new short position will be released in the next week or so which will be in-line with previous historical reporting.
In layman's terms, it would seem that someone is getting a bit twitchy re shorting Buford shares.
https://www.nasdaq.com/articles/ameriprise-financial-now-owns-5.01-of-burford-capital-bur
https://fintel.io/news/invesco-cuts-stake-in-burford-capital-bur-184
ffc
Here's some jam for tomorrow:
https://www.lse.co.uk/rns/BUR/interim-results-for-six-months-ended-30-june-2022-jpu518koja0lyw8.html
"Notably, we saw a positive development in a matter in July - not reflected in our first half numbers - that should generate more than $50 million in consolidated profit in the second half of 2022".
Now where's that scone and cream gone?
The only issue that I have here is that Burford's proportion of this award (the first) may take some time to flow into our coffers and will miss the imminent FY2022 full year accounts report. Other than that, the Burford machine will keep churning out positive results in all areas of it's litigation business.
"The UK’s Competition Appeal Tribunal has ordered DAF to pay approximately £17.5 million in damages to BT and Royal Mail as part of a landmark ruling confirming the country’s first successful follow-on claim against a member of the EU Trucks cartel".
https://www.burfordcapital.com/media-room/media-room-container/hausfeld-to-pursue-trucks-cartel-claim-in-the-uk-backed-by-financing-from-burford-capital/
https://globalcompetitionreview.com/article/cat-delivers-win-royal-mail-and-bt-in-first-ever-trucks-damages-ruling
https://www.thetimes.co.uk/article/royal-mail-and-bt-awarded-20m-in-truck-cartel-ruling-6vz7xgtpb
Like the man implied, "the Argentinian Government will keep borrowing money from whoever/wherever they can to keep kicking the can down the road".
Come to think of it, aren't the UK Government, USA, European countries etc etc doing something similar by borrowing money from the various banking institutions to keep them afloat (but not obviously on the same scale or with the same risk factors built in). Lol. Lol.
https://twitter.com/SebastianMaril/status/1617338060022353921?cxt=HHwWgsDQ1bCZ-PEsAAAA
Gtx1,
Yes, I was merely underpinning your statement whilst informing newbies (and reminding any LTH's/regulars for that matter) of the source and relevance of the figures being mentioned.
Looking forward, $8.4 billion could therefore be seen as a maximum settlement figure that the Argentinian Government could have set aside and are content/prepared to pay. The method of payment, timeframe for payment and a built in avenue for an agreed discounted early payment will no doubt form part of the negotiated settlement and will most likely reduce the final payment figure.