Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
For goodness sake - we've had more updates in the past 6 months than at any other time in Burford's history! What DON'T you know about the business at the moment? You know all the metrics, deployments, returns, the internal tone, some big public wins, the status of Peterson etc. We're also due further court dates on Peterson as per Preska's schedule last week, the Argentine election will be sorted late November and we'll have Q3 results before Christmas - as well as a divi payment.
I'm genuinely curious what people want here - a daily running commentary on "how this week went"?
I'm firmly of the belief that this is extremely strong buying opportunity for a company which is going from strength to strength and which has a huge runway ahead. I'm happy to sit and wait for the scheduled news - what difference does fretting week to week make?
You're investing in the best company in the litigation funding space - an asset class which is necessarily confidential. If you want to invest in bananas or something you can see and measure day-by-day, then I'd suggest this isn't for you.
I'm certain they will appeal. But I'm also confident in a settlement - you don't want to be not holding when that RNS drops!
Good results, and $7bn of investments that will mature. Excellent future ahead.
It's not contradictory at all. Stop calling it "an appeal bond" and you'll get less confused.
1. Argentina will appeal. They have said as much in court and in writing.
2. They do not need to post any bond to appeal.
3. Preska may decide that a bond should be placed to stay enforcement once the final judgment is granted
4. If she does, Argentina can chose to pay it and stay enforcement, or not pay it and allow Burford to (if they wish) begin enforcement action immediately, including through the appeal hearings.
The appeal and the stay are two different things.
*sigh* - how many times?
Argentina will not need to post a bond to appeal. We know they will appeal - they even said this directly in their most recent closing statements.
They will likely need to post a bond to stay enforcement whilst the appeal is pending. Of course they wont pay the bond, so Burford will be in their rights to start enforcement as soon as a final award is rendered - appeal or not.
Sure - but consider some facts for a second.
1. Argentina is a sovereign nation with multiple assets outside its borders. It continues to trade and continues to bank and investment internationally. It also has multiple valuable assets outside of the country controlled by state-owned entities (not least YPF!).
2. Argentina has always paid its judgment debts. I know that sounds contrary to a certain narrative, but it is true.
3. Other parties currently pursuing Argentina have successfully frozen assets in the past few months. Plenty left for Burford to pursue.
4. Burford are in no hurry. The can wait, they can settle, they can enforce, they could monetise.
I'm just not sure where this bleak forecast of "getting paid" comes from. Unless you're short of course.
Blimey, calm down - it gives the impression you know nothing about this company!
Q1 results possibly tonight (but who knows/cares)
Seb was talking about Preska's pre-announced deadline re the quantum trial. Nothing will happen on the YPF case until at least the election at the end of October, so turn the screens off for a while...
I disagree that the market 'wasn't impressed' by the results. We hit a multi-year high! It was more a case that the vast majority of the results were already known/communicated following the note in March. The only real unknown yesterday was the new fair value model, and as they expressed on the call, it's an internal accounting metric that has no impact on cash or results.
I thought it was extremely impressive and lovely to hear the team so confident. The Q1 results will be very instructive in a few weeks time, as will the result of the quantum trial on YPF. I can see a decent and gradual SP increase from here throughout the year.
The second 'trigger' this week: 2022 results. I have no idea what the small bump in investment carry value will do to share price in £ terms, but it must surely be positive. We know the bare bones of the rest, which has by now been priced in.
Q1 summary: Expected early June. This will be key in my mind. A demonstration that the legal world is back to normal and that realisations and cash returns are happening.
Judge Preska: Another would be some confirmation on timing or process on establishing quantum and the recent letter campaign.
All eyes on the results tomorrow I suppose. Exciting times.