Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
I know! And after the year the company has had?? Simply for doing something as obvious as cutting costs when margins have disappeared they get a million quid bonus? No wonder they're not bothered about the share price! In good times and bad, management always enrich themselves and the 'independent' BOD say "help yourselves". They must think we're stupid and in many ways we are.
That's all we need, a compliant BOD completely in the pockets of the Kamanis! Disgusting they got this bonus.
'The management team were awarded half their potential maximum bonus of double their salary as they had been “very agile in driving cost reductions across the group".'
God knows how much they'll get in better times with the revamped incentive scheme. That's *our* money going elsewhere. Dividends anyone? lol forget that!
I hear you disco, but they don't need to comment on it. They could've correctly notified the debt position in the accounts and left it at that rather than also highlighting it in the narrative. Seems like a warning to me. Hope I'm wrong.
Reardon, but I'm not sure over the past 18 months that the results have been 'very positive', nor the outlook 'strong'. Suggest the declining share price has generally reflected deteriorating results and outlook. Perhaps not so much now, but sentiment is at rock-bottom.
Not only has this been a dreadful long-term investment, but it's also been almost impossible to average down successfully in the hope of trading some for a quick 10% profit, so consistent and relentless has been the descent. Result is I've got far too much stuck in this dog and I suspect I'm not the only one. Not only was picking retail as a sector a mistake, but online retailing the worst part of it.... compare the performance of clothes retailers like Frasers, Next and Inditex with Boohoo, and ask which would've been a better investment in this post-pandemic period?
Pretty depressed about it - all one can do is learn.
Market's not finished reacting negatively to those full year results published 2 days ago - 2.3p to sell this morning - suspect people are spooked by this, tucked away in the outlook section:
"The Directors also draw attention to the Group's senior debt arrangements with Bank of Ireland, where £6.8 million was outstanding at 31 December 2022 (c.£6.0 million following a repayment in June 2023) of an original principal of £17 million borrowed in 2018. This debt facility comes around for repayment, extension or refinancing in September 2023, and while the Directors are confident in the Group's ability to do so, this is nevertheless a project that needs to be successfully executed".
That looks like fair warning of a capital raise to me.
Hope you're right jmak, but the fact that the likes of Balfour Beatty are happy to pick up these highways contracts from Costain suggests that they can make them work while Costain can't seem to. However, a little bounce back this morning.
Q3 expectations and analysis provided on this board by Silverblade & others proved to be spot on. Q3 revenue indeed marginally less than Q2 and the disappointment is how long it's taking for sales to gain any kind of meaningful traction... however markets taking it all in its stride this morning (so far).
39p winning. We need good news before the inevitable next fundraise... or else we'll all be diluted out of the game.
I don't think you are SteveFennel and yet the share price has dropped even further to below 700p this morning. Future is still a good cash generator. Time to trot out the old cliche that the market can stay irrational longer than we can stay solvent...
I'm sorry to hear that Sid. I'm 85% down, but position-sized small before thankfully realising that this was indeed a lifestyle company for the directors, as you imply, and stopping further purchases there. Won't bother selling now - I'll just see what happens. Good to keep it on my list with a big fat -85% next to it, to remind me of my bad ones.
... the share price takes another leg down... now at 2.5p to sell.
Inevitable it seems.
Stonking quarterly trading update from the owners of Zara.... (sigh, we can but dream)
https://www.reuters.com/business/retail-consumer/zara-owner-inditexs-quarterly-profit-rises-54-sale-boom-continues-2023-06-07/
... make for depressing reading. I can't see anything good in them and the prospects for improvement in all metrics seem far, far away. I'm only surprised the share price hasn't dropped more. Is there any point hanging on to these rubbish shares?