Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"Let's hope our vast experience helps ensure margins remain good. ATB."
Prudent bidding was mentioned in the EoY statement RNS.
ADNOC RNS might be a while. These deals are not easy to put together.....Unless money changes hands to lubricate the system! Less said the better! Lets not start any bad habits!
This looks like a nice steady climb based on the ADNOC bidding news tbh. Next stop £2++ with luck. If not this time then the next.....
eg
19-Apr-22 16:49:03 127.786 24,056 Unknown* 128.40 128.60 30.74k O
This trade was grey - The price was "outside" the bid ask range.
The Red/Blue is is a buy/sell indicator. This is "calculated" from how close to the spread limits the trade is.
it is NOT ALWAYS correct. Sometimes there is not a spread to calculate this Buy/Sell from - hence a grey trade.
A - Automated Trade
O - Ordinary Trade
UT - Uncrossed Trade.
If you look on this site - which are a licenced data pull off the London Stock Exchange (As far as I am aware).
There were £2 million more sold than purchased & approx £1.1 of uncrossed traded at the End of Day. I would bet they were all buys contrary to the blue/red assigned to them as the system "guesses" depending on the bid/ask gap.
The "missing" £0.9 million worth are probably with ii. It does not look like the market is "holding" a vast stock at a price TBH
Pre-pandemic 350pps to 650pps and then add inflation.
4% daily should see 145+ by the end of the week. That re-rate might cause 200pps to become the lower figure when this fully recovers.
My suggestion is buy in early (and by that I mean ANY value below 200pps) and hold.
GL
PDL was hammered, bad news after bad. Its value shrunk to less than 1 tenth of "normal" values as investors ran scarred. How the hell can you value a somewhere that pulls large diamonds from the ground?? The back of the office settee is probably worth $200 million! If "they" paid 177pps It really is investor confidence and nothing else that is back the SP. Good thing is it looks like a climb from here!
also typo "pandemic levels with the cost savings" should read "pandemic levels, but with the cost savings"
sry.
my typing is not the best . and i dont post that often
Sm66 there is more about prudent bidding and inflation you might want to read in there. FYI
typo read "where the SP "should" be as"
sry
All in the EoY statement in March.
As Pokerchips pointed out they cannot pay dividends yet. But point of conjecture is the SP "should" the revenue and margins reflect pre-pandemic levels with the cost savings and increased energy services interest at the moment including the COVID recovery over the last 4 years as a backdrop. This is one share that has had no COVID recovery. ADNOC bidding ban and fines put paid to that. The recovery pace and level is seriously open to debate.
Trade the swngs or invest?? Personally this is still bargain basement and when the SP finally reaches 200pps there could be the same comments at that point. All my opinion and DYOR but this could easily have a "low" of 200pps and a high of 300pps when fully recovered, but that might be late 23 or even 24.
Below are some extracts from the March RNS trying to read between the lines.
" While clients continue to prioritise cash preservation over new investments"
"The contraction in capital spending by clients, initially triggered by the decline in oil and gas prices and the COVID-19 pandemic in 2020, continued into 2021 in our addressable markets. As a result, new order intake in the year was US$1.2 billion (2020: US$0.7 billion), comprising EPC contracts in Oman, Libya and Lithuania and other net variation orders. As the year progressed, the market showed signs of recovery and over 90% of order intake was secured in the second half of the year."
DIVIDEND
In April 2020, the Board cancelled the payment of the final 2019 dividend in response to the COVID-19 pandemic and the fall in oil and gas prices. The Board recognises the importance of dividends to shareholders and expects to reinstate the dividend policy in due course, once the company's performance has improved. Under the terms of the new debt facilities, the company will be permitted to pay dividends from 1 January 2023, subject to the satisfaction of certain covenant tests.
ORDER BACKLOG
The Group's backlog decreased 20% to US$4.0 billion at 31 December 2021 (2020: US$5.0 billion), reflecting progress delivered on the existing project portfolio and low new order intake in E&C as clients continued to maintain capital discipline and delay new contract awards in response to the COVID-19 pandemic. While the E&C backlog declined from the prior year, strong order intake in the second half resulted in a 14% increase from the 30 June 2021 position.
Just an opinion, some energy services have been very slow to recover. There is a strong chance PFC could be issued a speeding ticket in the coming months.
Thanks for your approach, London Stock Exchange never returned any email. Must be the same for Isle of Man listings?
If I have any confusion I usually use London Stock Exchange site as the definitive.
I think it just mentioned Main Market.
Perhaps I should buy you a Maroon coloured Triumph.
Best of luck.
just reported. thank you. i will try and eat more cream cakes and take an extra sugar in my tea to carry more weight.
thanks again for the support.
I did email London Stock Exchange about a week ago when i noticed it on a 5% move.. My guess was the data scraping is from London Stock Exchange is not working. As all data here is literally licenced and scrapped from there (to my understanding).
It will be interesting to see if hits resistance @126p & 176p. Not so sure about the 140's and 150's but there is bound to be sell offs there. Personally I would not want to be shaken out of the climb hoping to play the swings. I think this climb could be more permanent and is the market FINALLY waking up to ADNOC opportunities becoming available.
Just note PFC are not on SHARE RISERS??? So they might not have caught the heard attention yet.....Which is nice.
Completely agree with the Fag packet calc of double the SP. Problem PFC might have could be time or delay to fully recover. H2?? might be longer tbh. Markets are quick to react? I expect this might take revenue increase, and a return to profits and dividends. That might be a while longer. And tbh the return to be a bit nearer triple than double (fag packet calcs accepted) IMHO. But doubt that will be H2.
Think your looking at a 4-5% day trader swing. Either long term hold or get in on the action until friday. Looks like moving 0.5pps a day ATM.
Yesterday 473K UT same as differential between Bought and Sold. FYI
I response to your question. They are now finally allowed to bid for ADNOC work and add to backlog/workload. All of their fines and court cases are out of the way. Slow Market realisation of this and slow climb back to dividends ( and hopefully double or triple the SP) expected in the next couple of years.