|Manganese Bronze Hldgs
||EPS - Basic
||Market Cap (m)
Real-Time news about Mang.Bronze (London Stock Exchange): 0 recent articles
|adorran: Nope, don't think so. Geely have way too much invested in this to let it go, they're in for the long haul. There's a new smaller city taxi due later next year, electric TX4 being developed, the next raft of azerbhajan deliveries due soon and the agreement to distribute Geely cars in the UK. Potentially a good business, just needs some stronger leadership and better PR. They need to smarten up their communication and fight the doom mungers and the share price will shoot up. Frustrating company..........|
|davidosh: Has anyone seen the monthly taxi sales figures ?
The share price is starting to suggest there is little hope here.|
|m.t.glass: Share price collapsing. Down 11% in past half hour./
Results due later this month.|
Excellent placing annouced this morning, done at only a small discount to current share price and in excess of where the shares were trading at just a week ago.
This cash will remove any doubts (davidosh!) in funding going forward.
This is the key line and the focus of the company's future:
"It is possible that in the very first year of distribution of Chinese manufactured vehicles, the Group's international sales will exceed those sold into the UK market."|
|davidosh: The share price is still moving up and now past £2 again. How were the sales in May from the SMMT figures ?|
|the analyst: Saint Helens Capital Note:
"Calmer Waters Ahead
The current issues faced in 2008 should not divert investor's
attention too far away from the bigger picture with regards to the
potential of Manganese Bronze's business. The joint venture in
China is commercially attractive and increases the scale of the
business by a factor of ten. The current share price is discounting a
lot of the short term concerns offering investors a good entry point to
benefit from the exponential growth in profitability Chinese production
will deliver. On conservative assumptions the shares trade on a PE
of 7 times 2010 earnings.
Short term earnings under pressure 2008 the perfect storm
Manganese face the perfect storm in 2008 with deteriorating trading conditions, a new
competitor in the London market, the recall of 5,500 vehicles due to safety issues and costs
relating to the JV. In response to these headwinds management have taken action to reduce
the cost base dramatically reducing the break even point for the business.
Long term earnings on course Potential starting to be realised
Commercial production of the Chinese TX4 is on schedule to begin in late 2008 for the
Chinese market and early 2009 everywhere else. The early response from customers,
outside Asia, has been encouraging. Since March Memoranda of Understanding (MOU's)
have been signed for 6,000 vehicles, by 11 different customers, in Europe the Middle East
and Africa. It is too early to quantify the effect that the recent fires may have, if any, on
orders going forward. The issues will have been resolved before full marketing commences
which should limit the longer term effects. Estimates are conservative based on orders
currently attained for international sales, assuming no further orders for 2009-2011.
Valuation good entry point to benefit from China
2010 forecasts assume sales in the UK of just 2,200 vehicles, substantially below the
average achieved over the last ten years, and 2,000 internationally while the JV will begin to
contribute on sales of 8,000. These conservative forecasts would put the shares on
perspective PE of 7 times. Calmer Waters Ahead
Price/Target 265p/515p "|
|cliffyburger: I agree with davidosh. MNGS is almost certain to make a loss this year. Given its cashflow problems, I expect it will have to renegotiate with its lenders, or opt for a rescue rights issue.
Either way, the current market cap of £50m is way too generous. By my reckoning, the MNGS share price ought to *at least* halve from its current level...
Cliff (short MNGS)|
|thinktank: What's the terminology for the opposite of a pump and dump?
MNGS has been talked down so a major short position could be closed. Just the fact that daviddosh is all over the advfn boards but has suddenly stopped posting here makes him the number one candidate for being the trickster involved. It is now much safer to short this company than it was when daviddosh was in full flow and we were seeing the share price rise by 40%.
The good news I'm hearing is that just about all the major shorts have been closed out now, leaving it open for a free run for the price. It can now go down to where it should be. In my opinion, that is about 100p per share prior to raising more funds.
The next trading update will be terrible in my opinion and will be the day when we see the big drop in share price. Only two months to wait for that.|
|crystalclear: Well, it looks like realising their vision to make the London taxi a successful global icon is going to be a bumpy trip rather than plain sailing and the share price might dip further before the Chinese made taxis roll off the production line and global sales start to get organised and build up.
I wouldn't be at all surprised to see these drop further as the traders hammer it a little. At the moment people are still looking at this as London Taxis. I think it is only when Chinese production has started that people will really see it as Shanghai Taxis.
Christopher Ross is on the board of directors of MNGS and ATV. Both companies have had dealings with Geely. MNGS for Shanghai taxis, and Antonov for their efficient 6 speed transmission, which is a bit like a dual clutch transmission in that it can power shift, but from any gear to any other, rather than just between odd and even gears - a limitiation on dual clutch trannies.
So I think there is a possibility that the Chinese taxis will get Antonov's Chinese 6-speed. Shanghai taxis looks to have great prospects and since its been announced the share price has averaged a lot higher. But this might not be the best moment to buy, as the myopic investors and short term traders give the shares a bit of a bashing by just looking at the short term for London Taxis.
In my opinion trickle time cost average buying over the coming year might be the best way to ensure a low purchase price for investors seeking to profit from the Shanghai taxis, limousine and saloon cars.|
|davidosh: The largest shareholder in MNGS appears to be having problems with its investments
The distress would be huge if they started to sell down their interest in MNGS. I understand they have had very large holdings in a number of UK housebuilders since March and that may be hurting them as no doubt they use considerable leverage as a hedge fund often does.
That said the 40% drop in MNGS share price in the last six weeks cannot have helped them|
Manganese Bronze share price data is direct from the London Stock Exchange