Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Why are these people still involved in this business.
My wife as a bit of fun recently bought her school friend a fun sign for her birthday, it read:
You’ll always be my best friend because you know to much.
Doesn’t look great does it for a company asking to be in the most trusted of positions in their customers businesses and asking investors to trust its sales and growth figures.
The company was started by some one who is evading being bought to justice in American for one of the biggest fraud cases for a uk listed business. A person who is an executive at Darktrace and founder
A co ceo at Darktrace who was part of the gross exaggeration of Autonomy revenues to enable a fraudulent sale at 9 billion who is now in charge of strategy at Darktrace and poppy who is said to be an ally of Lynch the founder.
So have they exaggerated revenues at Darktrace? I hope not but confidence and trust is everything for investors.
CDF1 and 1887
CDF1, I so agree with you that the shareholders have been robbed, it’s actually impossible not to agree because the owners of the company have had their assets removed from them very skilfully , robbed in other words by profit hungry private equity.
Yes 1887 we need to see the details of what was done behind closed doors with any consultation with the owners who now feel like victims. An explanation of how daylight robbery is perfectly legal and ethical business practice would help ?
Not shopping at Morrisons anymore and……
1. Scammers:
Set up organisation to fool people, con people and make off with their money, ordinary good people fall victim to this and loose their hard earned money. Although there is possibility some reclaim, safety net for some victims. This is illegal.
2.
In this situation with no consultation with shareholders, Ordinary good people have been fooled,and have been alleviated of and lost their hard earned money. With no safety net.This is legal.
End result is the same, one is legal the other a criminal offence.
But the ethics have many similarities.
I hope these very clever people enjoy the shareholders money and feel proud.
CDF1
Clayton Dubilier and Rice have without doubt robbed the shareholders very neatly.
It is reported in the daily mail they have protected the shops and employees but no mention of shareholders, ordinary people loosing their hard earned money.
They effectively have our money now. Could you imagine Ken Morrison doing that ?
The private equity profit sharks have a very different set of ethics than Morrisons used to have.
Why shop at Morrisons and fill their pockets, they will be gone in a few years when they have flogged assets and cashed in
Very disappointed with Morrisons, Mccolls have done all they can to convert stores to Morrisons daily and should of had a great future. It looks to me like Mccolls hit trouble with supply issues in the pandemic, were weaken and Morrisons put potential new owners off and watched Mccolls drown , Morrisons have said now that administration was not necessary, they did have months to throw the life line.
I hope Morrisons profit Hungary American private equity owners are pleased with themselves and I hope they don’t get the shops..
No need to be loyal and shop at Morrisons anymore, it’s Aldi or Lidl for me because Ken Morrisons business ethics are history now.
The new owners will make a killing and flog it on imo and my family will stop shopping there from now.
Morrisons have a fantastic British heritage going back to 1899 . Mccolls have a fantastic British heritage going back 50 years.
Morrisons are not that anymore, American profit hungry private equity have recently racked up to cash in on Morrisons, if they stop Mccolls from surviving and engineer it going into administration the Morrisons reputation will be 100% different from what it was imo.
The Morrisons deal looked great but Mccolls recent vulnerability now looks to me an opportunity for Morrisons to be ruthless which might be possible but just isn’t right.
Do the right thing Morrisons, 1100 local communities are watching.
Hi
As Morrisons got Mccolls in a stranglehold? Mccolls are totally committed to this tie up , they are vulnerable and in no position to go back on this Morrisons tie up. Are Morrisons taking advantage of this and slowly strangling Mccolls ?
This as put other buyers off. If say I came along and offered to pay the £120 million debt off, then pay £10 million pounds to buy the shareholders out, Then paid to transform more shops and provide more working capital, let’s say that cost me another £70 million pounds.
That would be £200 million spent on a debt free 1100 shop national chain that I could aim to rival the coop with.
Cheap with sales increasing. Why isn’t this happening? Is it because Morrisons won’t allow it because they have Mccolls legally bound, Are Morrisons trying to choke Mccolls to get assets cheap ? I don’t know but it doesn’t smell right
I’m in the farming business and have spent most of a life time concerned with Fertilizer prices.
Ammonia nitrate Fertilizer to uk farmers was up until recently £200 to £280 per ton, then the Russian conflict and prior to that high energy prices put the price up to £1000 per ton in Feb, March this year.
Farmers didn’t buy it, today I can buy it at £700 per ton.
The price Mr Musscat mentioned a price today that actually isn’t todays price and is highly unlikely to be the price 3 years from now. $1500 a ton could of been a panicked market turbulence price after the Russian invasion.
Farmers are investing in lowering the carbon footprint on farms to meet targets and Fertilizer produced like this will be very welcome, I’m invested and see this as a great step forward but don’t work your figures on $1500 a ton for Ammonia in 3 years from now is my opinion.
We are all waiting for funding news ? Does there need to be a big announcement ? Are we barking up the wrong tree altogether?
It looks to me that funding as been done and dusted weeks ago, The company was in the news : would it be able to keep going without further funding, since then the store conversions are being done at pace, Openings and roll outs of new converted stores on a weekly basis.
The partnership with Morrisons is obviously going ahead at speed. I posted last night my conversation with the manager at the Crewe Mccolls who said things were tight a few months ago but not now, her store is booked for conversion the first week of July.
The outgoing ceo stated the the future was bright and he was confident of a good future for Mccolls.
Do they need to make announcements now ?
Turn over of one billion with sales gaining a very decent percentage rise right now with converted stores doing near 20% increased turnover, I think we will find out at the next agm and maybe no big announcement is intended until then ?
The cost of flow tests will be the best news and it could come sooner rather than later now, really encouraging results today.
The company did say they would update shareholders on a regular basis so thank you EME , updates really appreciated
Some encouraging weekend press suggesting at least mid 170,s and Sycamore are one of some serious players, so interested to see what the best offer is over the coming days.
( it was either the Daily mail or the Times by the way, read so much stuff I cannot remember which one )
I travelled up to Crewe to visit relatives Thursday, Friday just gone, Went into Mccolls in Crewe on the Nantwich Road. Had a good chat with the manager there. She told me she had just received confirmation that that store was to be converted to a Morrisons daily store in the first week of July, closed for one week for the conversion. She told me that things were financially tight 3-4 months ago but the business in her opinion were so much better now, how all the staff were looking forward to the conversion and Mccolls were a great company to work for.
We are seeing up and down the country the business plan being rolled out. So come on McColls and tell the shareholders about the future because the staff seem pretty confident.
I shouldn’t think 11p will be on the table tomorrow morning!
I am just as interested in the company announcement regards the awaited proven gas reserves, the route to market, time scale and sales agreement, this is obviously going to be big news for the shareholders.
Roll on tomorrow!
Hi Stevelarratt
Thank you for your informative illustration, really good.
I wonder just what is happening right now ? Getting ready to start drilling, or drilling by now.
I guess we will get an RNS in the morning. News of hydrocarbons being encountered might be with us any day now.
I’m really quite excited about this and upcoming news flows.
I feel the gas sales agreement when it comes will fully justify the share price where it is now and quite possibly higher, This in its self will be major news, When and how the gas is coming out of the ground and how and when it will be sold onto the market. This for me derisks this investment in terms of keeping this companies market value at days valuation or higher in the event that no oil is found.
The oil drilling could not have be de risked anymore, so I’m going to have one eye on this over the weekend whilst watching the grand national and Rachel Blackmore !!
I agree Gaza : the CEO and all other employees have done a great job getting us to this point.
The CEO looks like a man of action just now.
On another matter Empyrean should be letting us know about the gas reserves any time now.