Member Info for Walkley

Could someone tell me why this share has a market cap of £130m when it makes no money - has less than £10m turnover and hasn't fully explained how the market was completely mislead by "orders" that didn't exist being announced by the board.

Reporting using AI is still only so so!!

Whilst lots of uncertainties - not least the future oil price. Can anyone tell me what are the net costs per barrel to Afrenta are going forward, the annual production and hence the income we can expect given a $70/barrel oil price?

Hooray - best wishes to all who have been here since Mercury Recycling days!!

Price creeping up even with no announcements of share buy-backs since last week (should perhaps have bought more when share price was lower!). Perhaps finally getting noticed by the market - selling their house building arm to concentrate on infrastructure projects was clearly a good move.

The year has started well, with good momentum across the Group's three divisions and trading in the period was slightly ahead of the Board's expectations.

Pendragon's atest management statement doesn't mention shareholders!

Bill Berman, Chief Executive of Pendragon PLC, commented:

"I am delighted to report a very strong performance in the first quarter, which builds on the momentum we generated last year from the progress with our strategic and operational initiatives. We continued to trade strongly in UK Motor, across both new and used markets, and our performance shows the benefits of the strategy we have been pursuing in recent years. It is really encouraging to see all of the Group's divisions in growth, particularly when considering the ongoing challenges in the external operating environment. We are seeing improving signs in the production and supply of new cars and we are focused on continuing to deliver for our customers and OEM partners in the months ahead."

Closed at 200p up 8%

Actually with £26m extra cash have the funds to do both - a 12p special dividend costs about £12.7m so still £13m to distribute. Expect a boost to the final dividend.

Just wonder if increasing the regular dividend by 4p a year for next 3 years might have had more of an impact on the share price! But am quibbling -12p in the autumn plus the usual dividend is good news.

Ironveld income is in USD if costs are in ZAR then helpful for Ironveld.

If I remember correctly 5 trades on the day after the webinar (2 of which were small top ups by me!) and ending down on the day. Yesterday 39 trades including some reasonably large ones and up 9% on the day. Next week should be interesting.

Expect an RNS before end of Q2 (end June) that the first sales have been made. Surely that will ignite the blue touchpaper!

Whilst webinar didn't give any new information (not allowed) it did show the confidence of management. The figures that hit me were that 40,000 tons a year (c $20m sales) throughput was achievable by the end of this year (2023) but once a smelter is in place on site could expand production 40 times!! Current market cap of £12m surely is too low but do need a massive uplift just to get positive here!

5 million traded at 0.35p -£17,500

Overall financial performance for the fourth quarter of FY22 was slightly ahead of the Board's expectations, with a strong underlying trading performance more than offsetting higher operating and interest cost pressures. Trading during the quarter was underpinned by strong volume growth in new cars, with the Group delivering like-for-like volume growth of 4.6%, and outperforming the retail new car market growth of 1.0%. Used car volumes also grew by 5.2% on a like-for-like basis in Q4, a notable improvement on the declines seen in the third quarter.



As a result of this performance, FY22 Group underlying profit before tax is expected to be approximately £57m (FY21: £83.0m), slightly ahead of market expectations1.

The Group continued to improve its financial position during FY22, with adjusted net debt of approximately £23m (FY22: £49.7m) as at 31 December 2022.

Significantly ahead of original schedule!! A first for Ironveld

"Excellent progress continues to be made on the refurbishment and start up of the Rustenburg smelter. As announced on 17 October 2022, first production was anticipated in Q1 2023 but Ironveld can now confirm that the first of the smelter's three planned operational furnaces is expected to be in operation within the coming weeks, significantly ahead of the original schedule.

Given the challenging market conditions and uncertain economic outlook, Hedin confirms that it does not intend to make an offer for Pendragon.

The new owner -Hedin will not issue shares to buy Pendragon they will pay cash. Any dividend paid by Pendragon and agreed by Hedin would reduce the price paid for the shares.

I am hopeful that Pendragon's board will have been able to negotiate an increase in the bid price - perhaps to 32p in order to discourage anyone else from making a bid.

If Hedin or one of their concert party pay more than 29p then the offer will have to be at or higher than the price paid.