Member Info for Walkley

Good to see share price above the 28p that Hedin were supposed to have offered. I think still significantly undervalued, but any bid would have to be at least a 20% premium - so 34p +?

Does EOG have anything other than its 25% stake in Serenity? EOG has a market cap of £21m - so if that is all EOG has I3E has, on that basis, an asset valued at £63m. I3E's Canadian business therefore is valued at £205m with a Net Operating Income of £146m pa.

I3E does seem inexpensive!!

"....full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) of $192 million" US$192 at $1.31/£ = £146m - current market cap at 23.75p = £268m.

Valuation seems ver low. However I am biased. Am I missing something ?

"Based on forward strip pricing at 31 March 2022, i3 now forecasts full-year 2022 net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) of $192 million, a 28% increase over that predicted in the Company's December 2021 capital budget announcement." 20th December 2021 RNS said: "US$184MM of combined 2022/23 Net Operating Income"

Not sure what combined 2022/23 means but should we expect an increase in the minimum dividend by £2m (on the current £11m) based on 30% of US $8m increase in NOI since December?

24p - a good start

The darkest time is just before the dawn!! It is a great deal for Grosvenor and the South African economy - hope the bankers and lawyers get it over the line soon! Having been here since Mercury Recycling days another couple of weeks not a problem!!

Or as the salesman says sucking in his teeth "Nobody wants red cars at the moment, shame its not blue i could have given you a really good price"

2nd half T/O of £170m with profit (if back 18% normal rate) about £30m. Makes earnings for the year of around 310p /share -a P/E of 4! Surely a decent dividend should be coming.

Alien have 3 prospects in Mexico - (2 Silver, 1 Copper/Gold) , 2 in Australia - Elizabeth / Munni Munni (Silver, Nickel, Copper, PGE) and Hamersley (Iron Ore), and Greenland (Lead/Zinc).

They also have significant cash but probably not enough to get all of these into production without a joint venture with a major. The alternative is to sell one (perhaps with a royalty element). It seems to me either there is a placing which dilutes our holdings or a sale of all or part of one or more projects. The more exploration proving resources the more valuable they become -assuming the results are positive. It is the boards decision whether to finance them all through a placing or sell all or part.

Which project to sell? The decisions are not easy and whatever is decided wont please everyone. I think the £39m market cap. is low for the assets we appear to have.

Always, well usually, a good sign!

Cobre Access Extended Until 31 March 2027. ( previously only a year at a time) Really good news will enable longer term planning. Think people forget we have a reliable income to finance the other projects.

Very odd that no comment on media reports of a 28p bid from Hedin. If wanted to discourage a bid then a dividend would have boosted the share price perhaps beyond what Hedin would be prepared to pay. It would be good to hear if the board would be interested in a tie up with Hedin at the right price.

Correction £83m pre tax

£83m after tax underlying profit but no dividend or worse no explanation, that I have found, of why no dividend. Come on Hedin make us an offer!

Closed at 27.5p - surely 30p tomorrow!!

Hedin is a private company so would have to finance any takeover by borrowing. There must be a limit on how much they would want to borrow though £80m pa would service quite a lot of debt.

If Pendragon wants to repel a takeover offer then we need a good dividend. If the £80m profit is sustainable then a 3p dividend should be possible giving an 11.5% yield at 26p

Even at 35p a 3p dividend would give a yield of 8.5% so 35p might be too low!

Results due this week. Expect good Dividend as share buy-back might take Hedin over 30%. The cost of a 1p dividend £14m - profit expected to be £80m

Should be told if bid approach made - insiders who knew about the bid have been in a position to benefit

Surely Alien need to "sell" one of their assets - probably Han**** Iron ore - for cash to develop their other prospects. By sell hope they would retain a royalty but cash now would be very useful!