focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
https://x.com/eri****tall/status/1744373587442557149?s=20
"Since i3e have paid WHI to put out this report - logic tells me that the upcoming dividend is covered and providing Oil and Gas prices stay at or above current levels - then future dividends should be covered also. "
Went over WHI's report, and I see you're correct. I was comparing full year 2023 v full year 2024. Whether it is covered at AECO $1.70 will have to wait for the weekend when I hack it.
"Tony, what's your take on the numbers supporting the divi, I saw the car crash scenario from WHI they had oil almost $10 lower but their gas was way higher at $2.5. Do the numbers still support the divi and how far off will they be from their NOI?"
WHI is contemplating whether a dividend is supported at all, which it is. But, it foresees a 25% dividend cut.
This may also mean they think the share price will stagnate, but they are happy getting the dividend without owning the shares themselves (it ain't called a "total" return swap for nothing). So, the company continues to pay the divvy to Polus in excess to the actual risk Polus took.
The 114M are not shares but rather CFDs. A dealer has given them exposure to 114M shares for the cash price of 11.4M shares, but not the shares themselves. So, they've put a total return swap on our backs.
I see this now as a positive, as it is a bet on the share price increasing rather than vice-verse.
"if they cut the 2024 divi by 25% then I'd expect the sp to react accordingly. This would be a good time to get in as I think that will be the floor for 2024."
Quite the company this one is.
It insists it must pay a dividend it can ill afford, luring an investor class that will never trust it again, while the major shareholder already got paid twice over for the capital it risked giving this company to break into Canada.
I'll take $12 Henry Hub tomorrow please.
private uk investors look set to have withdrawn the highest amount in more than two decades from london-listed equities by the end of 2023 as the cost of living crisis bites, further compounding a flight from the local market.
british retail investors had sold down £11.9bn worth of shares in london-listed companies by the end of october, according to the latest data from the investment association, just short of the £12bn in the whole of 2022, which was the largest outflow in 20 years.
stockbrokers and analysts blame the exodus on a combination of cost of living pressures, higher mortgage rates and the poor performance of the uk equity markets relative to the us and to fixed-income products.
the ftse 100 index is up just 2.1 per cent since the start of the year, while the s&p 500 in the us was up 25 per cent by midday on december 28.
“investors have thought twice about investing this year,” said richard *****, managing director of brokerage charles schwab uk. “we’ve seen evidence of clients taking money out to meet short-term needs this year. there’s been an element of a retreat to safety, look at immediate needs rather than long-term goals.”
in a survey by the brokerage earlier this year more than half of those surveyed said they were scaling back their investment plans due to the cost of living, with younger investors especially nervous about cost and performance.
wealth and asset managers said their clients were increasing cash withdrawals from their platforms to meet their financial needs. “platforms have also reported increased withdrawals as investors take out money. i suspect this trend will continue into 2024,” said holly mackay, founder of consumer finance website boring money.
more than a third of respondents to the charles schwab survey said the biggest reason for pulling money off the platform was to pay bills, with just 10 per cent of people moving into cash savings and 2 per cent expressing concern about markets.
bestinvest, an investment platform owned by uk wealth manager evelyn partners, said that withdrawals were “running modestly higher this year than 2022”.
bestinvest managing director jason hollands said: “people ultimately invest to achieve real world goals, including paying off mortgages where they expect to see a significant increase in remortgaging costs.
“it’s not surprising that in the current environment, some clients are drawing down on their investments to pay bills or reduce debts given the pincer-like squeeze on household finances from rising prices and higher borrowing costs.”
hargreaves lansdown, the largest investment platform in the uk, said clients that were withdrawing cash were doing so for “cost of living and financial need”.
" I'd be very happy for you to buy back >8m shares in i3e, it needs a bit of a kick up the rear. GLA"
Just a smidgen.
Let's hope they take "Serenity" off our books.
https://www.londonstockexchange.com/news-article/SQZ/new-us-525-million-6-year-borrowing-facility/16255460
Car-crash scenario: production is 20,203 boe/d for $10M USD/year.
Looks flat to me.
"How do you come up with Sub $10m capex ?"
I too read WH Ireland my friend.
"- add it all up and it suggests that YE 2023 corporate declines should be lower than 17% ."
Well, I'll be a monkey's uncle!
That's better than SAGD-s in the WCSB.
"- latest IEA forecast is that"
Nobody cares about that captured organization.
"2) Announce a H1 Capital budget in the region of $7-$10m with the view to expanding if prices pick up"
17% decline rate, if real, would allow for sub $10M capex and still production at 21K bboe/day.
We're at a stellar 17% according to this ranking (we're not included as this a deck from Peter's and Co, and Majid thinks he's a better investment banker). However, that could be a function of NOT DRILLING!
https://pbs.twimg.com/media/GBPcTZSWAAQQ_-w?format=jpg&name=medium
"FTSE is world class for building a retirement income portfolio"
I am seriously shocked the UK investors would take this large of a 'company' risk for a dividend. But then again, my entire country was a British Company so I suppose I should not be surprised.
Link as requested.
https://www.5iresearch.ca/company/tsx/ITE
GGG: there wont be a sale.
We have to learn to love Majid and the current BOD.