George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
It's a bit ridiculous that Standard Chartered is valued around £21bn while Barclays is valued just around £27bn. If they can afford STAN, might as well go after the sizable Investment banking player with a take over of Barclays. Surely the Board room in barc would be wondering what would happen if barc receives a take over offer for say 270p per share and shareholders willing to accept it. Surely this must be making them wonder that it's time to get the share price up fast else there could be a cheap takeover well below TNAV of 300p per share? The BOD and the wide swathes of potentially overpaid management teams and executives would be out of jobs? Maybe a takeover and finally splitting off IB would unlock the value which only the execs seem to be enjoying through their sky high compensation?
Elon Musks takeover of Twitter has definitely shown that even with a 90% reduction in staff count, a big company can still operate efficiently. Makes you wonder what all those teams and departments were employed for? Maybe banking is due a consolidation?
CEO as well seems confused as to why the share price has under performed Lloyds and Nwg - "consumer-focused UK peers such as Lloyds and NatWest have fared better over the same period, despite having less diversified earnings and relying entirely on one country facing a recession."
What is it going to take barc to get back to 215p levels set earlier this year? End of the war? Other banks seem already regaining earlier highs...
https://www.ft.com/content/d66a3de2-5b9e-4696-95e2-4ff8abd38ced
If CGP and SOLG merger doesn't go through would be the shorter arb fund will have to buy back the SOLG stock in open market imo. With the arbitrage fund shorting SOLG, it makes one wonder whether the big holders in CGP are only using SOLG I.e. us shareholders as exit liquidity, given that with CGP they have no exit liquidity? Surely raising £50mn around 24p with the new CFO, early summer would have resulted in 10% dilution at a market cap of around £500mn, with market having confidence and visibility of exploration and feasibility studies and dz and old team working towards adding more value through exploration work? Share price would have been above 20p with market having more confidence. The CEO and JX recent purchases are all under water at current share price with the shorting fund in profit?
First one visible? Looks like Canadian based fund
https://www.shorttracker.co.uk/company/GB00B0WD0R35/
Hubrishunter refers to the new shorter fund as arb fund from Canada.
"$solg #solgold the CEO of XIB Asset Management is specialised in merger arbitrage. The 0.5% short position in Solgold most likely is because they are buying CGP on the approximate merger terms. It is NOT likely a directional trade given the PM background for XIB"
https://twitter.com/hubrishunter/status/1601884409136758784?s=46&t=6AVq-3pMLvoa5VHRVF3m5w
He has clarified it;
"None of my comments relate to SolGold specifically. You are reading too much into it. I have come across some very high level info about trends of western governments that will impact us. Our industry is going to change a lot going forward."
He seems to be referring to this link which he has replied to ;
Federal Govt Unveils Canada's Critical Minerals Strategy – December 9, 2022
https://www.cpac.ca/episode?id=320278d6-91f2-409e-a160-1d5d0cb1576c
"That is sadly just the beginning. I am most concerned that the people making the rules really have zero clue what goes on in mining business and how their new rules may make things even worse."
Crazy how CGP stock has performed the past month and 3 months since the merger announcement. CGP stock is up +25% over a month and +38% over 3 months period. And it's up YTD. Crazy outperformance vs solg. Any thoughts why?
Couldn't find any reference to India in results. But from the site below looks like deliveries in India are already active? Why isn't India prioritized for growth?
https://www.lookfantastic.co.in/
"Accelerating with Digital
Increased delivery sales by 34% over last year driven by Kroger Boost and Customer Fulfillment Centers"
https://ir.kroger.com/CorporateProfile/press-releases/press-release/2022/Kroger-Reports-Third-Quarter-2022-Results-and-Raises-Full-Year-Guidance/default.aspx
Not sure if you all have seen this post by the THG COO on LinkedIn few days ago. Very popular video of the automation robots handling packages and some interesting comments.
"With Asia peak deliveries in customers hands, time for the main event. Black Friday and Cyber Monday, ready, steady...... GO!
THG THG Ingenuity
#blackfriday #wearethg #thgingenuity "
https://www.linkedin.com/posts/activity-7001476824060850176-lAgR?utm_source=share&utm_medium=member_ios
The below extract is from the Q3 '22 results;
"Capital returns: capital distribution policy incorporates a progressive ordinary dividend, supplemented with buybacks as appropriate. Dividends will continue to be paid semi-annually, with the half year dividend expected to represent, under normal circumstances, around one-third of the total dividend for the year"
So if 2.25p per share dividend that was paid at Half year results is one-third, then the remaining would imply a dividend of 4.5p in Feb '23 during the Full year results?
Barclays has a progressive dividend policy. What that means is dividend would be increased progressively. Half year '21 had a dividend of 2p per share. Half year '22 had a dividend of 2.25p.
Full year 2021 had a dividend of 4p, so dividend in Feb should be 4.25p.
Not sure where is the 3p dividend talk coming from? Progressive dividend policy would mean dividends increase every year. And with every buyback program there will be lower shares in circulation, and even if the dividend amount paid stays the same, the dividend per share should increase. At least Barclays has a progressive dividend policy - Lloyds doesn't have a progressive dividend policy. And Barclays share buybacks are able to buy shares at a much lower price than its TNAV per share of 289p vs where Lloyd's can buyback.
No wonder Barclays share price hit a 52 week high of 219p earlier this year, before the securitisation goof up and the war derailed the trajectory. The securitisation effect is falling off with each quarter and if the war ceases then 219p could be hit again fairly soon imo. And look at the sensitivity slide that Barclays had at their Q3 results - a 25bps increase in interest rates has a very sizable impact in Barclays income vs say Lloyds. The higher interest rate income is starting to filter through - that's what the market saw in driving the share price to 219p level in Jan '22. Do you see similar upside with Lloy or nwg?
Good call Jim. Much bigger drop than the 3p after WHT. If I'm not mistaken even in an ISA there is a 15% WHT after filing the wben form with your broker. If no form filed, the tax would be 30%. Only in sipp you can have the full divi.
Jim- if you buy in today you will be eligible for the c. 3p dividend that will be paid next month. In essence if you buy at 127p today - you are actually getting the 3p back next month, so your true buy in price will be 127p(price you pay today) minus 3p(that you get paid back next month) I.e. 124p. If you buy in tomorrow you will have to wait another quarter to be eligible for the same 3p dividend.