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Not much the results the market wasn't aware of but equally nothing big positive news that would act as a catalyst for a re-rate. Will see how the market takes this. There are some worrying trends though - gross margins dropping significantly again and active customers back to pretty much 2019 levels - they had over 25m at the peak of pandemic in 2022 and now down to 21m - no panic mode yet but perhaps some signs that ASOS is losing its appeal?
This company has been dying a very slow death since 2018 so not sure what you are talking about - you must be relatively new to UKoG. It is actually amazing how long they managed to keep this sham company going.
Wishful thinking and zero chance of this happening. ASOS may get to sucha valuation in the next 12 -24 but not in the next 6 months.
Not surprising , the last months decline was caused by people's uncertainty w.r.t to what the trading update will say. Now the market read the update and sees it as positive there was no reason for the SP not to return to the usual trading range of 380 -400 we've been stuck in for the last few months.
What will be interesting to see if we are able to break
out of this range towards the 420 -450 levels over the next few weeks.
I did the unusual thing of building a position in a turnaround company just before an update and it looks like it's paid off.
Was quite worried the market will take an opportunity to beat it down at the open b3cause of the -18% sales decline (slight sales decline from P4 FY23) but looks this was offset by other slightly more positive indicators.
Equally if tomorrow's results are yet another downgrade (on already low guidance) then it will mean that the turnaround is simply not working and there are more fundamental problems with the business than just 'too much stock' and 'cautious consumers'.
I have just taken a position expecting tomorrow's results to show some rays of sunshine (don't expect any amazing news). If that's the case and it does look like things are starting to turn around I will be looking to build a much bigger position over the coming weeks.
If it is another miss on the already weak guidance then I am afraid it will be the case of forgetting about ASOS altogether.
This aged well schwee lol
Come on ...it has ONLY lost 99.95% if you only go back 5 years ......
Back in 2018 the fools on this board used to have a fun game trying to predict UKOG closing price at the emd of each week.
Let's start a new tradition and let's try to predict the week in which the trading in this share gets halted ?
At this rate I predict w/c 18th of March 2024. Any other takes ?
Winner gets 1 UKOG share.
UKOG will have a market cap of £250k or less by the end of the year. I am sure SS is already writing a note what went wrong to cause the company to fail , in preparationg for the delisting, naming bad regulators, oil prixe volatility and other factors but nit admitting that UKOG has been a scam company only concern3d from estracting money from the most naive people.
Superdry, less than 6 years ago a £1.5 billion company is now worth just £17 million. This is a cautionary tale of when happens to a brand when it losses its appeal. 6 years ago you would see plenty of SD jackets being worn around town and now barely anyone wears one. While ASOS is by no means in the same boat as them yet, this highlights how difficult fashion is and how quickly your key customers can abandon you. ASOS really needs to re-invent yourself as overstocking during Covid is not their only issue and the reason the stock has slumped . Just a few years ago, when finishing uni I remember all my female friends constantly posting bout Boohoo or ASOS/ sharing promo codes etc. These people have obviously aged by a few years now but I don't see the younger generation having the same sort of passion (my family / co-workers in their early/mid 20s) for these outlets as my friends back in 2015- 2017. I still believe the company an pull off the turnaround but anyone thinking it is going to be a quick and easy process and expect to make 5x in a year are simply naive/delusional.
Claiming "oversold " on a share which has lost 99.9% on and is on a continous slide is plain stupid. Jesus..... 20k posts and you still believe in fairytales ......
It is fun coming back to the UKOG board every year or so and still see delusional people being surprised at the actions of SS. This company has always (ALWAYS ) been a scam built on false promises of great riches of large reserves of oil under Gatwick. This company has been created with the sole purpose of extracting as much money as possible from the investors to fund the lifestyle of the board. No other CEO of a small company ever takes a salary of £600k + if they want the company to be successful. The fact he never bought any shares in the company was another massive red flag. If there are people still out there believing UKOG will make a comeback please already accept this investment is a write off and foe god sake's stop funding SS and his greedy lifestyle further. The company will be delisted in the next year or so, so dont be one of those caught out by it.
I am afraid that the Jan trading update (if it lands ) for ASOS will be more similar to the one from JD Sports today than to one released by Next.
No , I don't think I am getting this wrong. I have not said that people 30+ are immune to these inflationary/ high interest pressures but they are much less vulnerable to them compared to someone in their 20s who is on basic wage and whose rent, energy and food bills have gone up massively over the last 18 months.
For anyone saying Next update is great news for ASOS I would like to remind you the two companies target completely different demographics. Next's customer base tends to be 30+ , people who are less likely to be affected by inflation, minimum wage jobs and raising intersst rates. ASOS target teens and people in their 20s who are most affected by such things. This explains why the updates from Next over the last 12 months were gemerally good whereas the ones for ASOS have been rather grim.
Rabnesbit, weren't you predicting a massive drop today after reading the trading update and 30 mins before the open ? If your prediction are so inaccurate on a such a short trading timescale , what makes you think you can predict weeks or months into the future ? How about some humility ?
Agree. I don't think the results change anything fundamentally. They still seem to be on track in turning the business around . It will simply take longer than many were hoping for.
Results at pretty much the bottom end of previous guidance, with some deterioration in trading in July and August ( which has already been mostly known/ priced in). I believe the market has mostly priced that in already but the results are slightly underwhelming. Unfortunately I don't see a big pop today at the open that many were expecting and may see a drop due to lower than expected margins and lower FCF guidance.
Sorry , but you make the mistake of thinking that UKOG was ever a viable investment whereas it is clear that it was a scam and pump and dump scheme from the start.
SS essentially fooled a bunch of boomers with a clever tactic - promising them riches while also making them feel good about investing by bringing up the strategic / national value of a " vast oil field below Gatwick".
You have to give him credit for being able to keep this trainwreck going for so many years during which he's extracted millions of pounds from investors and paid it to himself in salaries (at rates ridiculous for a small enterprise).
Here's an old classic for all you believers out there :
https://www.youtube.com/watch?v=V1_stpqkU7w