It is anticipated that in the coming months rebar inventories will be depleting and production of rebar will increase significantly
? It is anticipated the new rebar standard will be implemented by essentially all rebar producers leading to increased vanadium consumption
Were there any indications around when these would turnaround? I'm seeing 'in the coming months' as possibly this year, but I think this was expected to have happened by now.Slide 110 interesting. Thanks for posting this.
The IRP is in the process of being finalised at Nedlac. In September 2019, it will be tabled before Cabinet for approval. IRP considers a diversified energy mix that includes all forms of energy technologies such as cleaner coal, nuclear, gas, hydro, renewables & battery storage
RE: Resolution 9 -- Have I got that right?03 Jul 2019 07:44
In terms of not having to issue a RNS to report that a buyback programme is underway, the RNS from 23/09/2015 may cover it. However the rule around this (12.4.4) relates to an existing authority to purchase equity shares. I'm not sure if existing authority is constrained by any time limits. The purchases of shares for this purpose means that those shares are excluded in calculating interest in the company.
RE: Resolution 9 -- Have I got that right?03 Jul 2019 06:56
I was going to post something regarding the share buyback but Lindon has already picked up on an important point.
The company need to issue a RNS stating they intend to commence a buyback programme which includes what happens to any shares bought back. Previously shares that were bought back in 2015 were, and still are, held in Treasury. The company then need to inform the market when they purchase shares, including numbers and price.
British Bulls is just a simple algorithm that takes the very recent sp movements and follows the current trend. It then bases its answer based on this. It has nothing to do with fundamentals , or even sentiment. There is no human input as to what recommendations it spews out.
My understanding is that the company have been able to action a share buy-back at any time, next week at the AGM the same resolution will be voted on as in previous years. I think it will only be discussed if raised, although I am not expecting them to carry it out. Previously when shares were bought back they were, and as far as I know still are, held in treasury. I believe there are certain restrictions as to what can be done with them.
Anyhow the 50k sells are probably the actions of our disclosed shorter as they carry out their rinse and repeat to push the price down. With little buying pressure this will work for them. With the price of V not rising as yet we could do with some BE news, quarterly update overdue.
No change in the short position, we will have to wait until tomorrow to be certain there was no closure from yesterday. The thought was that REMX have sold their remaining BMN shares which meant TPEP would reflect that. Possibly not the case though.
TPEP will have obtained stock to carry out their short, and REMX will happily loan out stock. There is a lot of activity with spreadbetting, although my understanding is that speadbetting firms will have monthly limits on how much can used against any company.
If it is the declared shorter (TPEP) who is responsible for the 30/50k trades then they are not using this to close their short as yet. There is a daily churn but its almost impossible to work out exactly what is going on as there are certainly several plays running concurrently. I imagine TPEP and using their daily buys/sells to generate some profits, but I will be a little more comfortable when they start to close the short. We probably need to see the price of V increase another 10% to 20% to see them bail out.