Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Similar article in the IC this week about the sodium pumps.
“Avingtrans (AVG: 378p), a maker of critical engineering components and services, has been awarded a major contract with TerraPower, a high-profile win in the nuclear industry. The nuclear segment accounts for 30 per cent of group revenue.
Co-founded by billionaire Bill Gates in 2008 to create a new cheaper, more efficient and safer type of nuclear power station, TerraPower’s Natrium Rector uses liquid sodium instead of water as a coolant. Its storage capacity enables the release of higher levels of electricity during high demand, too. The heat pump transport system is critical in the reactor, so it’s quite some accolade that Avingtrans’ wholly owned subsidiary, Vermont-based Hayward Tyler, has been awarded a multi-phase $10mn contract by TerraPower to design and develop the heat pumps that circulate the liquid sodium and transfer the coolant. Hayward Tyler has decades of experience in designing large vertical pumps for the existing US civil nuclear fleet, the largest in the world.
Upon completion of the three- to four-year initial phase, TerraPower has the option to have Hayward Tyler manufacture the production pumps for the demonstration project. The award of this contract presents a significant growth prospect within one of Hayward Tyler's core markets.
Orders de-risk earnings guidance
True, the flagship initial order from TerraPower doesn’t impact current year forecasts but it certainly adds to an order book that provides more than 90 per cent visibility for the 2023-24 financial year. The same is true of two national contracts Avingtrans secured last month that aim to make safe nuclear waste for long-term storage of the UK's legacy of nuclear assets. The £14.5mn contract value boosts the order book of Avingtrans’ Metalcraft subsidiary to £75mn over the next six years.
So, although the energy-focused operations are still projected to deliver operating profit of £12mn for the 2023-24 financial year, as a standalone entity the division is worth at least as much as Avingtrans market capitalisation of £124mn. That leaves shareholders with a free ride on the group's medical businesses (‘This energy play has a healthcare arm thrown in for free’, IC, 27 September 2023). Buy.”
25,578 shares at 183p bought by Dan Mendis (COO) on 9 Nov 23, according to IC
DaveT1. Re your question about current market expectations, I found this site which may help. https://www.marketscreener.com/quote/stock/JARVIS-SECURITIES-PLC-4004704/revisions/
Reply from the CFO, received this morning:
Dear Stuart,
Your query has been passed on to me. I am sorry if this has caused you any disappointment. We rely on the information provided by our registrars at Link as we have no visibility over the underlying Shareholders tax position. The Company remits the entire dividend payment to Link (our share registrar) who are then responsible for onward payment based on the information they have.
The following is intended to provide general information to investors with respect to the dividend paid on 27 October 2023, however investors should seek their own advice:
LCM is incorporated and registered in Australia.
Australian tax resident shareholders
Australian tax resident shareholders should not be subject to withholding tax where they have provided their Tax File Number (TFN). If no TFN is provided, TFN withholding tax at 47% would be withheld and the shareholder may be able to claim this tax as a credit in their tax return.
Foreign shareholders - tax resident of jurisdictions other than Australia
Where the company has sufficient franking credits, the dividend may be fully franked and not subject to withholding tax (WHT) for foreign shareholders. To the extent the dividend is unfranked, which this dividend was, WHT is applicable to foreign shareholders at a 30% rate. The rate of withholding tax may be reduced under an applicable tax treaty and a refund obtained from the Australian Taxation Office. Alternatively, foreign shareholders may also be able to claim the WHT as a credit in their local tax return. Please seek independent advice in this regard.
For information on the tax treaty between Australia and the United Kingdom, information can be obtained at the following link Australia: tax treaties - GOV.UK (www.gov.uk)
Link generally require evidence of residency for their files (i.e. certificate of residency) The following website provides guidance on how to apply for a certificate of residence How to apply for a certificate of residence to claim tax relief abroad - GOV.UK (www.gov.uk)
I hope this was helpful but please let me know if I can assist any further.
We take all investor feedback into consideration so thank you for your email.
Regards,
Mary
Does the large drop today suggest that the "skilled person" report is finished and some have got wind of what is in it?
I have just contacted them. I will report any significant reply. If they are asked enough, the hassle may cause a rethink.
I am not sure that the chart tells us very much. It could mean the price has bottomed and there will be a swift rise in price. The short term chart suggests that. It could mean that the price will spike in the short term and there will then be a further collapse and period of decline. The longer term chart suggests this. I hate to sound like a cracked record but a number of meaningful sales is the only thing that will drive this share up and reduce the current lack of trust of the company's management - unless the management changes and sentiment improves that way, of course.
This contract is clearly good news, but it is for R&D for new items and not for sales of what they have already developed. We need some substantial sales of the things that are in production to get this share moving in a positive direction. All in my humble opinion, of course.
My guess is that the drop today is related to the US banning certain chip sales to China and others, and the anticipation of retaliatory action by the Chinese in particular.
The future may not be so bright for the lenders if they get their interest payments in shares, to say nothing about their original investment. I hope the gloom and doom is over stated but until a series of significant and profitable sales contracts is announced, one can see why so many are sceptical- to put it mildly.
Https://www.smithsdetection.com/press-releases/sdi-agreement-with-kromek/
It seems as if Kromek supplies radiation sensors to Smiths rather than chemical detectors.
Https://jpjenkins.com/company/pelatro/
The indicative price is currently 1.21p.
Some information re trading via J P Jenkins can be found here:
https://www.pelatro.com/wp-content/uploads/2023/09/Matched-Bargain-Facility-Details.pdf
Thanks Malafuster. I must admit I missed it when scrolling down the RNSs. I probably should not post at 02:44 local time when I can’t sleep.
Personally, I like the following explanation for the difference between a pessimist and an optimist.
The pessimist says, "It can't possibly get any worse than this."
The optimist says, "Of course it can!"
On 31 March 2023, the following RNS was issued.
“RNS Number : 8389U
Jarvis Securities plc
31 March 2023
31 March 2023
Jarvis Securities plc
("Jarvis" or "the Company")
Company Update
The Board of Jarvis provides an update on the Skilled Person review as announced in its update on 16 September 2022.
The Skilled Person continues with its review of the systems and controls of the Company's subsidiary, Jarvis Investment Management Limited, and its associated recommendation work, pursuant to s166 Financial Services and Markets Act 200 ("FSMA") ("Skilled Person"). The Skilled Person is currently conducting the review and testing, as part of the second stage of its work originally agreed with the FCA.
The voluntarily agreed restrictions, as set out in the previous update, remain in place. JIML will continue to work with the Skilled Person and FCA with the aim of having the restrictions lifted on its impacted Model B clients as soon as possible.
The Board will provide a further update in due course and within the next three months.”
We are now approaching six months. Surely we should receive something from the BoD.
Steph. I am not sure why you say interest rates will be coming down next year with a likely new norm of below 3%. The current noises from bankers are that current rates may increase by a further 0.25% or so before they stabilise for a significant period of time. Any fall in 2024 is likely, therefore, to be modest. I accept that these forecasts are based on current expectations of no significant change in Ukraine and no additional flare ups elsewhere, such as over Taiwan, but these things can change both dramatically and quickly. Indeed, with the current geopolitical instability around the world and a number of elections looming that look likely to increase, rather than reduce, risk it is not obvious to me why we might expect significantly more benign interest rates, or a more benign economic outlook in general, in the short term. I hope that I am being unduly pessimistic but I doubt it.
So you think it is a done deal?