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I think we worked out that he/QuiSad has some sort of personal grudge against Brian McMaster. Hence the postings against Jaganda. I suspect he was probably fired and is either unemployed or works for a competitor.
Most shares have been surging over the last few months and the general outlook is positive across multiple sectors.
Why persist with a company on the verge of banks with assets that have proven dubious. Head or heart?
Is that the local supplier you work for?
Just catching up. Superb start to the year. Another positive step following a maiden profit last year. Hugely promising!
I do feel for long term holders. But the whole rationale of the CPR was of analogous fields across Lincoln, Lancaster, Warwick and Halifax. So the failure at Warwick Deep in Summer 2019 had ramifications for all of the fields not just Warwick. There was plenty of analyst and bb discussion on these implications at the time.
I suspect the recent 1.5m share trade may have closed out a long term seller. If so it’s great news, especially as the technicals align and with a maiden profit declared.
Strong performance from BOKU on DCB. Bodes well.
Trading update due next week?
BOKU also up so sector doing ok?
And given the small trading volumes BGO always moves quickly.
Due an update next week. From the last update if we hit a similar run rate to Q3 of circa 90% of original sales targets then we’ll be up at around 60kt for the year and significantly over the current target of 50kt. And we’ll over the break even figure of 40kt per year.
o Q3 CY2020 sold 27,577 tonnes against the 30,600 tonnes target
· Following cost saving initiatives, the recurring overall cost of operations is the equivalent of sales of approximately 40,000 tonnes / annum of KPFértil.
Good luck all!
The last 2 years they have narrowly missed expectations and slipped out the RNS between Xmas and NY when the market is vey quiet. The previous year the announced in the 2nd week of Jan when the market is fully back to work, when they met expectations and announced a big Netflix deal.
I’m hopeful the pattern continues!
A year or so old but still relevant. And still a stated desire to move away from imports.
Market Overview
The Brazilian fertilizers market is projected to register a CAGR of 4.9% during the forecast period (2020-2025). The potential expandable agricultural land, the growing demand for micronutrient fertilizer, and government subsidies for agricultural products are the major factors driving the growth of the market studied. Currently, 33% of the country’s total land is used for agriculture. Brazil, being a large agricultural producer, offers many opportunities for agrochemical companies. The market is witnessing several joint ventures between global players that are likely to increase their market share.
Increasing Fertilizer Use in Brazil
In line with the trends in the recent years, the Brazilian fertilizer demand will grow by 4% during 2019-2020. The latest available data from the National Fertilizer Association (ANDA) shows that for the first ten months of 2018, the total fertilizer volume supplied to the Brazilian market increased by 3.9%. The survey conducted by ANDA revealed that farmers are continuing to the increase in the average spending on fertilizers, as it becomes more difficult to expand planted area.
The trade statistics of the country is likely to remain heavily dependent on fertilizer imports. Brazil’s fertilizer imports reached about 75% of total domestic use in 2017-18. According to ANDA, fertilizer imports were up by 4.5% in 2018, in line with the historic five year average. For the first 10 months of 2018, the national fertilizer production was down by 2.9% from the previous year, which was a better performance than the five-year average annual decline of 4%. Thus, the increasing import dependency, coupled with the rising fertilizer use in the country, is likely to accelerate the sales of fertilizers in the years to come.
From the article:
President Energy
President Energy Plc (LSE:PPC), the oil and gas exploration and production company focused on Argentina, succeeded in keeping its promise – which we reported in April – to significantly increase its production this year.
An operations update published earlier this month announced that President’s net production has now reached 4,000 boepd, more or evenly split between oil and gas, up from the average of 2,747 boepd reported in the company’s 30 June interim results, which itself was already an increase of 14pc over the 2019 rate. Most of the increase was secured through a new 16 km sub-surface gas pipeline connected to the company’s Estancia Vieja gas field, which has allowed an increase in gas production of up to 2000 boepd.
Other operations progress includes plans for the drilling of two or three vertical development oil wells in 2021 in the Dos Puntitas field, part of the Puesto Guardian concession, drilling at its Rio Negro licence, and the acquisition of an exploration block at Angostura. The increase in production dovetails with recent increases in both the oil price and Argentinian gas prices: the company received more than $40 per barrel for its December production for the first time since March, with spot gas prices reaching $2.10 per MMBtu.
President’s interim results reported a positive adjusted EBITDA and free cash generation from core operations and finance income. EBITDA was $1,049,000 (2019: $7,931,000) and cash $5,916,000 (2019: $9,750,000). Those figures reflected the company’s efforts to slash administration costs by 31pc.
President has been dogged by investor caution regarding Argentina’s perennial debt crisis, which continues to threaten devaluation of the peso. But this year the country did successfully restructure $65bn of foreign debt with private creditors, and is in negotiations to repay a $44bn IMF loan. Argentina also showed its commitment to the country’s oil and gas sector – revenues from which it hopes will help pay down the national debt – through a scheme to fix local oil prices at $45 a barrel.
Trafigura, the commodity trading and logistics giant, demonstrated confidence in President, and its position in Argentina, earlier this year by becoming the company’s second largest shareholder, with a 16pc stake. In light of President’s dogged performance this year we repeat the suggestion we made earlier this year that the company’s share price, currently hovering around 1.6p, may be considerably undervalued.
Current MCap is circa £4m. As of 30 Sep they had circa £2m cash had effectively reached break even sales and were expecting to be profitable at the end of this quarter.
Sentiment will eventually change.....
I’d expect an update early in Jan. Its now all a matter of trust in the management and delivery against sales targets. As a reminder the last update was positive:
Overview
· Strong year-to-date sales performance, of 37,436 tonnes, which is reflective of increasing market traction of KPFértil as a cost effective, high quality remineraliser product, despite continuing impact of the COVID-19 pandemic that has affected sales:
o Q1 CY2020 sold 3,334 tonnes, representing an increase on the 3,000 tonnes target
o Q2 CY2020 sold 6,525 tonnes compared to the 14,400 tonnes target
o Q3 CY2020 sold 27,577 tonnes against the 30,600 tonnes target
· Following cost saving initiatives, the recurring overall cost of operations is the equivalent of sales of approximately 40,000 tonnes / annum of KPFértil
· Revised year-end sales target of approximately 50,000 tonnes for the full year ended 31 December 2020 in light of the COVID-19 impact
· On track to conclude 2020 by reporting a modest maiden profit before tax
· As at 30 September 2020, the unaudited cash balance was AUD$3,723,397 with a positive working capital position of approximately AUD$4,861,723
Looking forward to a positive update over the next few trading days. EUS in excess of 2Bn. Profitable. Costs stable. No significant decline in margin. Given the volume of high profile deals then I’m even hopeful on the outlook for continued exponential growth, although given the scale of EUS that will need to come to an end at some point.
Finally some decent news!
Simplistically, for the injector to pay for itself it needs to produce an additional 12000 bopd at a $20 margin for about a year in order to pay for itself. So they must think it will give them considerably more than an extra years production plateau.
I’m sorry for your losses.
But the CPR is fully details the risks you were taking. We all live by our own decisions.
Sorry to see such bad news for long term investors today, and such a turnaround in fortunes over the last year or so. Hope your next investments make your money back plus more.
GLA.
Taken a while. Great day!