The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Stargate..I offer you this, Directors were willing to buy at twice the price currently, so if they saw value there, this is now deep value..although a pinch of salt as if you have director remuneration to start with the purchases mean a bit less. As for the charts, they are behind actual tangible business performance and events..you will not see it turn if you look in the rear view mirror...once Montara is producing with all tanks fixed and inspected and the new Indonesian gas play is online, this will be about £1 a share IMO...short term noise should be disregarded
RNS today states repairs commenced, expected to be shut in for less than 60 days, this is great news.. hopefully can get it up and running asap and back on track
Needed to get the rbl and accounts signed off..so up and running was better than not...I think all issues will be resolved this time then off to the races
I tend to disagree actually, how can they have got into over £600m of debt in the space of a year since the disposal!?
Not great results there, I really did expect better with white paper developments..same as a few other companies, giving out 10% plus pay rises is not really affordable but here we are
Think the demand has been underestimated...also the fires made it look ropey but the impact seems limited
Frankly this is trading at a ridiculous price...it's got little to no debt, very few fixed overheads, sky high travel demand, even Michael Burry is buying travel stocks, the founder just lumped in another 2.5m...the short was mis placed and is closing, I think this is now the best double your money in 12 months punt in the market
IFRS 9 requires expected credit loss provisions that cover loans through to expiry..so you need to take a level of provision even in newly written loans based usually on the credit profile of the existing book. What this means is if you write a lot of new loans you take a loss on the new provisions up front. Previously you were allowed to do a rolling periodic assessment and new loans would rarely be provided as no time had elapsed for them to get into any arrears.
The seller was there before that update, they just increased into any rise
They have net cash at the moment, would be interested to see how much they can draw down on the rbl with Montara shut in, needs to be enough to cover the capex..I think if someone knows ex Montara free cashfow we could probably work it out...but I bet they just say you can draw £100m whilst shut in..the rest when up and running...all just a guess
I mean sounds like a few months and all fixed, so share price drop a few weeks ago does now seem very overdone...it was 35+ with Montara shut in before..not sure what warrants this steep discount
I fail to see how if it's just been fixed and inspected it can have broken again so fast...makes no sense at all so can only conclude this is not going to be a long shut down and therefore a steal at 24p
No expert but surely the chance of gas leaking from a pipe is quite high on an ageing vessel..if the whole thing has been recently inspected perhaps the chance of a major issue is less than some on this and the other forum think. I might live to regret it but still think this could be a great buy here
Interesting opportunity here..Montara issue from what I read is a bit unknown ...but surely can defer capex a bit until it's sorted or draw on the facility provided? I think it is a good entry here
The 102p has to be code for that is our asking price
'Subject to shareholder approval of the change of strategy, the fund will not make any new investments and will only make further opportunistic investments in existing holdings where, in the view of the board and investment manager, such investment is considered necessary to protect the interests of shareholders and/or provide the investment manager with additional influence to maximise value and facilitate and accelerate an exit. Any such investment will require the prior approval of the board and will only be permitted where it is not expected to compromise the timescale for realisations.' The fundvis projected to divest and close by 31Dec23..so there must be some scope for an offer here else why buy more?
Crystal Amber now over 16%, with Shroders, Aberforth, etc buying they must see a bid on its way. Crystal Amber are winding down their find so can't see them buying this now unless they see an exit of sorts soon?
Was unsure if the Greece wildfires news would hit this..but only a modest few percent is not much to worry about
Media.monks Glassdoor reviews make for interesting reading - I started to have some suspicions about the whole model last week so luckily missed the drop - the issue with ad men is they can't be trusted to tell it straight, so not sure which way the wind is blowing here
Why did this one retrace back down from 200p anyway, that in itself seems like a mispricing, should be on the way up back to nearer the 400-500p mark based on projected EBITDA