The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Tosca bought more (up to 29.75%), that was on the 12th Jan.
FAKE NEWS
The convertible loan has a maturity date of August 2028. There have been no payment defaults by LSA in relation to the convertible loan agreement and LSA cashflow has been in line with expectations. Esken and LSA are investigating the validity of the alleged breaches in conjunction with advisers.
Ridiculous
Toscafund very recently upped their stake to just under 30%. If they want to avoid losing their investment they could offer 7p / share for the rest of the company and own LSA, plus the CGI debt.
The convertible loan has a maturity date of August 2028. There have been no payment defaults by LSA in relation to the convertible loan agreement and LSA cashflow has been in line with expectations. Esken and LSA are investigating the validity of the alleged breaches in conjunction with advisers.
Very well spotted. Strong buy at this level.
TR1 coming
Buys coming in......
As detailed in the Group's interim results published on 29 November, Esken is making good progress in respect of addressing the maturity and terms of the Exchangeable Bond and towards the sale of its non-core assets. As such, Esken is continuing to progress the process to seek a new owner for LSA, with a view to crystallising shareholder value through securing the right long-term partner, who both recognises the inherent strategic opportunity and is best placed to support future growth.
In line with Endeavour’s capital allocation framework, the Company is pleased to continue to deliver attractive shareholder returns by declaring a H2-2023 dividend of $100.0 million, or approximately $0.41 per share. As such, the FY-2023 dividend amounts to $200.0 million, which represents $25.0 million or 14% more than the minimum dividend commitment of $175.0 million for the year, reiterating Endeavour's strong commitment to paying supplemental shareholder returns.
Endeavour’s H2-2023 dividend will be paid on 25 March 2024, with an ex-dividend date of 22 February 2024, to shareholders of record on 23 February 2024. Shareholders of shares traded on the Toronto Stock Exchange will receive dividends in Canadian Dollars (“CAD”), but can elect to receive United States Dollars (“USD”). Shareholders of shares traded on the London Stock Exchange will receive dividends in USD, but can elect to receive Pounds Sterling (“GBP”). Currency elections and elections under the Company's dividend reinvestment plan ("DRIP") must be made by shareholders prior to 17:00 GMT on 4 March 2024. Dividends will be paid in the default or elected currency on the Payment Date, at the prevailing USD:CAD and USD:GBP exchange rates on 6 March 2024. This dividend does not qualify as an “eligible dividend” for Canadian income tax purposes. The tax consequences of the dividend will be dependent on the particular circumstances of a shareholder.
Shareholder returns are being supplemented through the Company’s share buyback programme. A total of $65.7 million, or 3.0 million shares were repurchased during FY-2023, of which $25.7 million or 1.3 million shares were repurchased in Q4-2023.
an ****erill, ceo of endeavour, commented: “i am honoured to assume the role of ceo at a pivotal time for endeavour as strong foundations are in place to unlock significant value as we deliver on our organic growth pipeline. i look forward to continuing to implement the strategy approved by the board and lead the company forward for the benefit of all our stakeholders.
2023 was another successful year for endeavour during which we continued to focus on improving the quality of our portfolio through asset optimisation initiatives, the divestment of non-core boungou and wahgnion mines, construction of our two high-margin, long life growth projects, and continue to deliver significant exploration success.
on the operational front, we are pleased to have met production guidance for the eleventh consecutive year and to remain one of the lowest all-in sustaining cost producers within the sector, allowing us to generate robust cash flow to fund both our organic growth and shareholder returns programmes. moreover, we achieved record production at both ity and houndé in 2023 where production exceeded 300koz. as we look forward to continuing to optimise and explore these two mines with the goal of sustaining such levels of production over the long-term, endeavour's other flagship asset, sabodala-massawa, is well positioned to produce up to 400koz in 2024.
regarding our near-term growth plans, we are very pleased to report that both the sabodala-massawa expansion and the lafigué development project are progressing well, with both projects on budget and on, or ahead of, schedule for first production in the second quarter of 2024. our longer-term organic growth pipeline is equally attractive, following the delineation of a 4.5 million ounce indicated resource at our tanda-iguela greenfield property in côte d’ivoire. this represents one of the most significant discoveries in west africa over the past decade and we have launched a preliminary feasibility study that we expect to finalise by year end, as we continue to focus on increasing its size.
throughout last year, we continued to execute on our commitment to deliver attractive shareholder returns, returning $200 million of dividends for the year and having repurchased $66 million worth of shares, which combined is equivalent to $226 for every ounce of gold produced from all operations. importantly, since we began the shareholder returns programme in 2021, we have returned over $900 million to shareholders representing 77% more than the minimum commitment for the period. looking ahead, our goal is to increase returns further once our two ongoing organic growth projects are complete.
i would like to thank our team for their continued hard work. i look forward with excitement to 2024 and beyond as we will benefit from the efforts undertaken over recent years to improve the quality of our portfolio and strengthen the resilience of our business.”
Hello hello -:)
TICK UP !!!!!!!!!!!!!
Buys at FULL ASK
If he sells out completely then you will be able to buy at or under 1p
They probably never had the money in the first place, played the delaying game, hey presto the price falls, they then come back and say sorry and re-negotiate at a much reduced price - at the moment a 3p investment is almost 1 bag away. I wouldn't rule out that SPR come back and want in at 1.8p or something like that
Would be funny if Kamran who wanted an EGM etc etc was to lose out here, as he has sold down his position and then hey presto the funding turns up.....perhaps they didnt like Kamran
926k buy just under full ask
Another 500k buy, decent volume here - looks like value hunters