Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
This bit at the end of the RNS may have some spooked:
The Group's need to secure receipts from the exercise of the warrants or through winning new contracts, customers or additional funding creates a material uncertainty that casts significant doubt about its ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group were unable to continue as a going concern.
There are no page numbers on there but it is towards the end of the CFO’s section. Now these ‘going concern’ bits are always there and usually doom laden but this does show an underlying uncertainty for these early stage companies. IES is in a strong position though, growing sales, increasing backlog, several projects around the world and a steady increase in size for these, massive increase in production capacity coming up, all underwritten by the slow and certain push for renewables.
Hi SimonV,
It's from this bit at the end of the commercial section:
· Between January 2021 and June 2022, Invinity sold 9.34 MWh of products contributing to a closed sales backlog of £13.8m, the majority of which, if not all, is expected to be delivered during the remainder of 2022.
It's a rudimentary calculation, but the best I can estimate at their income vs sales.
I’m never sure how large a pinch of salt we need to take with the trades shown on here. You’d have thought such a large trade might have shifted the price, even temporarily. As you say, let’s hope it’s a buy! Since covid has stayed quiet and elective surgery is recovering there is no reason to think that TRX’s next results should be anything other than positive.
There is a lot of sector wide selling, Whitbread, Intercontinental, SSP are all down and at or near 12mth lows in most cases. This is largely just sector wide recession fears driving down the travel sector as that's what people will cut if they are short. Top fallers on US stock market today in NASDAQ are AirBnB, Marriot and Booking Holdings. It's not Saga they're going for specifically.
Interesting to see if any of the irons in the fire for this company have moved closer to fruition. Fingers crossed. Possible updates on Korea deal, Oxford Superhub, Canadian Solar, Siemens deal and anything else that's going on. Would be nice to see them move some of these to the positive side of the balance sheet.
Well done guys on keeping the faith with IES! This is not the first ‘V’ shaped drop and pop this has done over the last twelve months. I averaged down on the last one but lacked funds to join in with this one. Hopefully this is the bottom. Plenty more in the pipeline for this company as you point out. Hopefully have some news on the Siemens deal around Xmas/new year. GLA
More a quick overview of some of my findings for others to add to. Have to admit to having sleepwalked into owning some of these by not paying sufficient attention to my BHP shares but having looked into it I like what I've got.
Oil production costs of $4.8 (2020) and $5.3 (2021)
Dividend maintained throughout covid and not many oilers can say that. Mentioning no names... albeit it is variable.
Cash margin of 78% (2020) and a free cash flow of 1.8bn (2020) and 851m (2021)
Oil price in 2021 was $83-52 and dividend was $1.35. So far oil price in 2022 has been north of $78 (Jan) and averaged around $100 approx. Impact on free cash flow with a steady production cost is clear.
I will hold on the expectation of divis and specials with an eye on their LNG developments which appears to be a fuel for the transition, whenever that occurs.
Happy to discuss others findings, analysis and general thoughts around this interesting new addition.
Thanks Ginandmilk, I’m never quite sure how these articles are generated and whether a human has actually been involved at all! Either way, the article does not mention the vast amount of stock TRX has in storage and the inherent value of this. I see nothing to worry about anyway.
https://www.proactiveinvestors.co.uk/companies/news/983691/gold-prices-not-quite-the-perfect-storm-but-two-shares-offer-equity-exposure-says-city-broker-983691.html
Although the market says ‘no’ this long term holder says ‘patience and hold’.
Thanks Skipsharer, after some more googling it seems that the Suzhou area has been in lockdown but appears to be out now. It’s hard to get a clear picture but hopefully if production has been stalled it will be back up now. Would be good to get an RNS from the company but I’m prepared to assume that no news is good news.
Ditto to that Chilting. The sp appears to have settled for now. We will have to patiently await the next update. There is no reason to worry in my view, the company is financially sound, well run and the post pandemic backlog of surgery should keep them busy for years.