Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I had the same thoughts. Authorised the transaction via email which they acknowledged but no deal gone through
Oh sure, there are a few of the managers littered about who've worked their way up, but there's two issues.
1) 70% of managers are wet behind the ears with little experience of how to run the machines or none at all and
2) The managers like yourselves have been away from the machines for that long that due to the usual lack of investment in plant and machinery, so many modifications/bodge ups get added to the machines that unless you run them day in day out, you don't stand a chance in optimising them. Decent Ops can get the best out of ****e machines, fact. What disapooints me is that in the old PFD days, lines had many skilled people at all stages of the lines instead of how it is now with just the one operator with a group of muppets. In the short term they saved 1000's by ditching the other operators to get the current model but as the old adage goes...….many hands make light work!
From my experiences, the workforce is made up of skilled Operator running the line accompanied by unskilled Agency Workers. These can be replaced willy nilly so the only worry is when Operators contract the disease. However, Operators are trained on many lines/machines so there is always cover. Plus also, they're will be lines not being used currently because they usually supply business which are currently closed not mentioning any names. So the skill capacity should be fine to use Operators on other important lines. So overall, I don't see any issues within the factories themselves.
I'm no financial guru but I've been in and out of this stock for over 10 years so can go on experience, coupled with knowledge from being an ex-employee. When all this she ite dies down, what will really have changed?
We will have a slight end of year boost to sales. Nothing major, because the factories can't bang the stuff out quick enough plus labour issues etc. This will just give a bit extra cash in the bank for the next marketing campaign.
The cloud of the pension deficit still looms. I don't know about recently, (Can't be bothered to dig out my annual pension statement), but they were always pulling the plug on any planned pay down arrangements because they couldn't afford it.
Any talk of divi's is just comical, they are years away. They just need to carry on, year on year, making the sales gains and slowly playing down the debts. But what do I know...…...
Hmm, I don't know about a dividend payer soon but I certainly think they've turned the corner, (9 consecutive quarters of slaes growth etc). Also think the product development has improved greatly. IMO, if only they could bin the likes of Knighton Foods which has products stuck in the 80's and is running at a loss. Would help the balance sheet.
Am i right in saying this is only a proposal and not a done deal, so they're will be a vote on it? With BOD only holding 10% of shares, getting enough of the remaining 90% convinced is still a tough task. Please advise......