Firering Strategic Minerals: From explorer to producer. Watch the video here.
T4G, do you really think these boards influence the share price? That explains some things.
I think the attacking of Pedro betrays a defensive mindset and a lack of confidence in the attackers' views. Although I'm an unhappy LTH hanging on in hope, Pedro's posts don't bother me at all - in fact I find them funny. He has a way with words and a way of driving home his points relentlessly... but his comments don't influence me. That said, I wish they had 2 years ago!
Nasty drop this morning on no news. I know yesterday was ex-divi day, but we're down nearly 15% since Monday.
Share price performance not good enough for the previous LTIP from 2021 to work out, but don't worry, we'll devise a new one with easier metrics. Classic!
Doesn't make it a smart decision though. Also, they added a shed load ( about £1.5m worth) in a POLX capital raise between Jan and July 2021, when the price was, it would appear, massively higher. We can surmise that that top-up was a big, fat whoops!
I also don't think Amati are in the business of buying and selling shares to teach management lessons, they do it to make money... or not!
Anyway, maybe they stop selling at 10.9%... but today's drop makes me wonder.
Brutal indeed. If it is Amati causing this fall, they are mad bailing out at these levels and at this time, having held so long.
I look at the RNSs and see nothing but good news! OK, perhaps the market is slightly spooked by the company feeling the need to RNS every sale of a single cylinder (as it kind of implies sales aren't booming), but I nonetheless considered that Philips collaboration news, which came out on 2/6/23, to be very material indeed. Besides, as has been said here, sales don't necessarily take off the very moment FDA approval is granted... it can take time... and POLX had $16.2m in the bank as at 31/12/23.
With investment decisions like this, no wonder the Amati VCT is at the very bottom of my UK Small Cap league table for 2023 , at -21% over the 8 months.
Ok, it's come back a bit. Judging by the companies on today's loser board, it seems to be a sector-wide thing.
Unexpected drop today on no news I can discern. It's bad enough when news comes out, need this like a hole in the head.
All of this should be good news for the company, yet the market studiously ignores it and seems to have concluded that TLY is a value trap. I accept, there are pitfalls in taking on these govt contracts - some of these staffing and cost efficiency issues that have beset the NHS, will also, inevitably, affect the private providers... but I still think the company is well managed and I continue to have faith in Chairman Holt to get things back on track. First and foremost, they need to carefully pick & choose their contracts from all this govt work apparently becoming available and price them correctly. Why shouldn't they be able to do that? Anyway, the market disagrees with me and this share has become hated.
Meanwhile, back on planet AIM, the price just keeps falling...
Actually the share price in March 2022 went below the covid lows. However, we've now gone below that, so we're at multi-year (or at least 10-year) lows today.
A credible recovery story or a value trap from here? I can't decide, so I'm not selling but I can't bring myself to average down either.
The article appears to be outside the paywall, of you google it directly:
"Outsourcing has not been the panacea that many had expected as tougher market conditions, chronically underperforming contracts and higher costs combined to undercut the investment case for the sector. Against that backdrop, it has often seemed the sole reason for Capita (CPI) to stay in business simply to pay off its debts and plug the yawning gap in its defined benefit pension scheme.
On the evidence of these results, these minimalist goals have been achieved with a measure of success; the company has paid off £1.7bn of debt to date since 2018, based on flogging off most of its saleable assets. There were five more business either sold, or put up for sale as the half ended, whose results were included in the current trading figures for the group due to their formal status at the end of the half.
The sale of businesses triggered extra payments in the pension scheme, which is why these contributions doubled in the half to £30mn. However, there should be a steady reduction in net contributions for now on as part of the actuarial agreement reached in 2020 with the scheme’s trustees; this preceded the scheme moving into reported surplus on the back of higher interest rates. Combined, this should ease the burden on cash flow as the year progresses. Indeed, management spoke of a return to dividends over the medium term if the improvement continues.
Capita deserves kudos for surviving a combined debt and pension squeeze, even if it is left in a much-diminished state. Now really a penny share, and with assets sales ongoing, shareholder value will not be rebuilt quickly. Sell."
Last IC View: Sell, 36.5p 6 Aug 2021
Hold your nerve for what? The company has already lost half its valuation since early March!
I know turnaround journeys can take time with many pitfalls along the way, but CPI does seem particularly accident prone.
On the macro: wage costs remain elevated and the UK govt. is on a tight spending leash, so it's unclear to me where the catalysts are.
Not a single comment in the four hours since RazorEdge's usual pre-market post. When was the last time that happened here?
Had to say something to check it's working...
I'm sorry, that's wrong. Firstly, interest rates are not in the power of Biden or Sunak, but rather with the respective central banks... who are formally mandated to keep inflation to target. Only that, not worry about recessions or general elections or anything else. Secondly, rates are likely not coming down soon. Well, that depends how you define soon. For the rest of this year, the B of E. is earmarked for 2 more 0.25% rises, with rates then staying at those elevated levels until, probably, mid-2024. Regarding the Fed, it's thought they may be at the limit of what they need to do, or there may be one more 0.25% rise. After that, again, it's expected rates will stay at those levels for some months. All of this is the conventional, consensus view. You may disagree and that's fine.
My worry re Boohoo is the 18 month lag between interest rate changes and the effect on the real economy. 18 months ago interest rates were < 1%. Today's rate rise won't fully affect the economy until start of 2025. Things may well get considerably worse for the consumer before better and that is why so many consumer stocks, not just Boohoo, are depressed.
Ashworth-Lord's Free Spirit Fund bailed out of EKF in July. They cited long-standing concerns over the BOD (governance, remuneration and 'something of a revolving door at executive management level'). Source: Free Spirit's August factsheet.
Unloved indeed.