Altus Strategies Share Discussion Threads

[gb904150] 09/6/2022 22:20

On the surface I really like the look of ALS. They appear to be reasonably priced based on the royalty assets that are generating cash flow now and the pre-royalty assets that will come on stream over the coming years.

I also like that they have some 100% owned projects.

Insiders are good - the BOD own about 13% of the equity....although that used to be 20% before all the fund raising last year.

My concerns are 3 fold.

It seems like ALS want to be an asset gatherer. Keep on raising funds, growing the market cap but with little regard to the share price and whether ALS is a good investment. That's great for the BOD but not great for shareholders.

La Mancha - it's down as a +ve in the presentation thanks to their strategic support and 35% holding. But that 'support' comes at a hefty price - an interest rate of 10% p.a. + 3 month LIBOR.

Share based payments - in the last quarterly report - 27th May 2022 for the 3 months ended 31st March 2022 they made share based payments of £483k!

£483k for a quarter for a stock with a £53m mcap. Seems very generous compared to the return on offer to investors. i.e. no dividends and no capital appreciation.

Anybody else feel it's a little bit too swayed towards rewarding the BOD and La Mancha while 'normal' shareholders see very little? I realise we are bottom of the food chain here....but still.

[74tom] 09/6/2022 17:25

"Im still scratching my head over the sense of this deal, they just bought these royalties, did they just sell what they just paid9 million for 5 or is there a more rational explanation??"

Just to clear this up properly as I've been looking into ALS today.

13/12/2021 RNS;

"As Alphastream holds a legal and beneficial interest in 50% of the voting rights in Alpha 2 SPV Limited and 19.9% of the voting rights in Alpha 3 SPV Limited, both of which are subsidiaries of Altus, Alphastream is deemed to be a related party of Altus under the AIM Rules for Companies.

Accordingly, the subscription of US$10m in Alpha 2 SPV Limited and the subscription of US$3,482,500 in Alpha 3 SPV Limited by Alphastream are deemed to be related party transactions pursuant to AIM Rule 13."

Alpha 3 valuation in December was $3,482,500 / 0.199 = $17,500,000

24/05/2022 RNS;

"AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces that it has entered into a Sale and Purchase Agreement ("Agreement") with AlphaStream Capital ("AlphaStream") for the sale of a 30.1% interest in Alpha 3 SPV Ltd ("Alpha 3") for US$5,267,500"

$5,267,500 / 0.301 = $17,500,000


So there was ZERO change in the asset value, they've just got $5.3m cashback to spend somewhere else... makes sense to me.

[waldron] 09/6/2022 10:59

Alstom (EPA:ALO) PT Set at €22.00 by The Goldman Sachs Group

Posted by admin on Jun 8th, 2022


Alstom (EPA:ALO – Get Rating) has been given a €22.00 ($23.66) price objective by research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Wednesday, Borsen Zeitung reports. The Goldman Sachs Group’s price objective indicates a potential downside of 16.82% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock.


UBS Group set a €44.00 ($47.31) price objective on shares of Alstom in a research report on Wednesday, May 11th.


Deutsche Bank Aktiengesellschaft set a €37.00 ($39.78) target price on shares of Alstom in a research report on Monday, March 21st.

JPMorgan Chase & Co. set a €38.00 ($40.86) target price on shares of Alstom in a research report on Monday, May 23rd.

Finally, Jefferies Financial Group set a €35.00 ($37.63) target price on shares of Alstom in a research report on Thursday, May 26th.


EPA:ALO opened at €26.45 ($28.44) on Wednesday. The company has a fifty day moving average of €22.58 and a two-hundred day moving average of €26.07.

Alstom has a fifty-two week low of €25.65 ($27.58) and a fifty-two week high of €37.37 ($40.18).

Alstom Company Profile (Get Rating)

Alstom SA offers solutions for rail transport industry in Europe, the Americas, Asia and Pacific, the Middle East, and Africa. The company offers rolling stock solutions for people movers and monorails, light rails, metros, commuter trains, regional and intercity trains, high-speed trains, and locomotives; asset optimization, connectivity, digital passenger, and security and city mobility solutions; and signaling products, such as urban, mainline, and freight and mining signaling.

[waldron] 09/6/2022 10:55

The future of transport is green: In Conversation with Mama Sougoufara, Managing Director for the Middle East, North Africa, and Turkey, Alstom
Jochebed Menon June 9, 2022

Leading societies to a low carbon future, Alstom’s Managing Director for the Middle East, North Africa, and Turkey Mama Sougoufara reveals how the company is frontrunning energy-efficient mobility

French manufacturer and operator of rail transport across the globe Alstom has been part of region’s transportation and mobility development since the 1950s.

In the UAE, the sustainable mobility company delivered the Dubai tramway, the first fully integrated tramway system in the Middle East and the world’s first 100% catenary-free line, which opened in 2014. Since then, it has been awarded the maintenance of the tram for a period of 13 years.

Alstom delivered the turnkey automatic people mover (APM) system at Dubai Airports to connect Terminal 1 to Concourse D which opened for passenger services in February 2016 and designed to carry up to 200,000 passengers a day.

Mama Sougoufara reveals: “We designed and supplied all electrical and mechanical (E&M) elements, 18 Innovia 300 cars (operating as five-car trains), the Cityflo 650 communications-based train control (CBTC) technology for driverless operation and responsible of operations and maintenance (O&M).”

More recently, the Alstom-led consortium was responsible for delivering the world’s fastest-built turnkey driverless metro project, Dubai Route 2020 Metro extension, which was inaugurated in June 2020.

Elaborating on the Dubai Metro project, Sougoufara says: “We are proud of the work we did for Dubai Metro Route 2020’s 15km-long line.

“As a leader of the consortium, we were responsible for the integration of the entire metro system including 50 metropolis trainsets, power supply, communication, signalling, automatic ticket control, track works, platform screen doors and a three-year warranty on the whole system, as well as the enhancement of the existing metro line by upgrading power supply, signalling systems, communication, and track works.”

Middle East focus


Furthermore, in the region the company has several projects – completed and ongoing. In Saudi Arabia, Alstom, as part of FAST consortium, is supplying a fully integrated metro system for lines 4, 5 and 6, which includes 69 metropolis-based Riyadh Metro trains, as well as the delivery of 47 two-car driverless Innovia Metro 300 trains for line 3.

In Makkah, Alstom was part of the Haramain high-speed rail line between Mecca and Medina, supplying Talgo with the Mitrac TC 3300 propulsion equipment and Flexifloat high speed bogies for the powerheads of the 35 very high-speed trains as well as the VIP train for the 450km line.

Towards Jeddah, Alstom is also the supplier of the turnkey Innovia APM 300 automated people mover system at the King Abdulaziz International Airport and responsible for operation and maintenance until June 2022.

In Qatar, Alstom delivered the Lusail Tramway, the country’s first catenary-free tramway and a system that will provide efficiency, availability, and easier maintenance, supporting the country’s Vision 2030

Sougoufara says: “We are proud to be contributing to the sustainable mobility landscape in the region – as we are convinced that it will bring about the change needed towards a clean and ultimately emission-free energy system.”

A new shift


For decades the Gulf region was dependent on road transport – it’s only in the past 15 years that other modes of transport such as rail and marine have made inroads. “An efficient, tech driven rail network is rapidly becoming an important need. It can offer a much more efficient mode of transport for goods and people movement around the region,” Sougoufara suggests.

“The Middle East has experienced rapid economic development and has the youngest population in the world and second highest urbanisation rate in the world. This development can only be sustained by resilient and modern transport infrastructure,̶1; he adds.

“For this purpose, it is important that the Middle East has modern, interconnected, and reliable public transport systems to ensure access to economic centres for everyone, reduce pollution and congestion.”

Sougoufara also believes that an efficient rail network will support the region’s drive to meet sustainability goals – particularly as the UAE and the Egypt gear up to host COP conferences.

He is of the opinion that at a regional level a robust and interconnected transport network will firmly position the Middle East as a business leader. “An example of this is the USD100bn GCC Rail project, which is set to open new trade corridors for business and travel opportunities.”;

“According to official sources, in the UAE alone, Etihad Rail can bring an excess of USD1 billion to the country’s gross domestic product (GDP) by 2030, with the project promising an economic return rate of 15.5%,” he adds.

Sustainability at the centre

Alstom wants to capitalise on these opportunities and bring sustainable rail systems to the region. He explains: “The effects of climate change are increasingly felt across the world, putting sustainability at the forefront of everything. At Alstom, we are aware of this reality and the significant potential for better transportation solutions must curb worldwide emissions.

“Rail transportation is currently the most energy-efficient transport mode and therefore offering residents an efficient rail network will support the reduction per capita emissions. Approximately 85% of greenhouse gas emissions from the transport sector are related to the surface systems. Therefore, a single person switching from a car to public transport can save up to 20 pounds of their CO2 emissions per day. At Alstom, we have a full range of green traction options, so we can help our customers go even further to reduce their emissions and address the rapid urbanisation that is taking place across the region.”

Alstom is also introducing innovative digital solutions to increase capacity and improve efficiency throughout its operations. An example is the improved navigation software which not only reduces the carbon footprint but also addresses some of the biggest transportation issues such as traffic congestion.

Alstom has announced clear environmental targets for 2025 which include: achieving science-based CO2 emission reduction targets under the COP21 Paris Agreement; 25% reduction of CO2 emissions; 100% of newly developed solutions are eco-designed; and 100% of electricity supplied by renewable energies.

He says: “For us this means Alstom is looking to reduce its carbon emissions across the entire value chain. For our customers it means we are ready to work with them to address the challenges we collectively face because of rapid urbanisation and global warming.

“And we do it by addressing their individual needs, there isn’t a one size fits all solution and because we have the largest portfolio of solutions, we are able to provide them exactly what they need to meet their sustainability targets whatever they may be.”

And Alstom is not relying on a single green energy source. “There are many options to power mobility and transport systems. As a leader in sustainable mobility, Alstom has developed a wide range of green and innovative technologies to reduce emissions and pollution in catenary-free operation. Customers can choose from a wide portfolio of proven solutions based on Alstom’s unrivalled expertise in hydrogen, battery, or dual mode electric-hydrogen,” Sougoufara says.

He adds: “On the hydrogen front, we are proud to have the Coradia iLint, the world’s first hydrogen train in passenger service in Germany since 2018. This represents a true alternative to diesel power.

“Additionally, Alstom is a pioneer in battery trains and offers the trains for various platforms. We recently supplied the world’s first battery train for passenger operation in Germany.

“Depending on the need, infrastructure, and environment we will be able to advice customers on the best solution. We need to look at the entire eco-system and ensure when a green solution is introduced, the full system, including rolling stock, is optimised.”

[waldron] 09/6/2022 10:37

Invest Securities has lowered its price target from 34.1 to 32.6 euros on Alstom shares, while maintaining its Buy recommendation, following the rebound of the stock by 21% since May 12.


The design office indicates that a company contact allows it to validate the financial situation of the group and its prospects.

[waldron] 07/6/2022 09:02

Agefi-Dow Jones





PARIS (Agefi-Dow Jones)--With the purchase of Bombardier Transportation,
Alstom has taken its shareholders on a real ghost train.






The group has nevertheless made the right turn. Since the publication of
2021-2022 financial statements in mid-May, the share price has recovered
20.6% against 3.9% for the CAC 40. Jefferies believes that Alstom is at a turning
is at a turning point, being on the verge of regaining
the favour of investors. "Confidence is starting to return to the stock
It's a good thing that we're going to be able to do this.



The use of a capital increase ruled out



Alstom has sent several reassuring signals. The industrialist has generated
positive cash flow in the second half of the year, clearing the way for
the way to its deleveraging. "The company appears to be well on track with its
The company appears to be on track to halve its net debt by the end of the year.
by half by the end of March 2025," said Jean-Louis Sempé of
Sempé of Invest Securities. The group's management has also firmly ruled out
of a capital increase, allaying the market's fears on this point.
the market's fears on this point.



The integration of Bombardier Transportation seems to be under control. For
to avoid any further slippage on the negative margin contracts
contracts inherited from the Canadian group, the company has deployed a major action plan, allocating more human and engineering resources
engineering resources to address technical and production issues.


By the end of the 2024-2025 financial year, Alstom should have
virtually cleared its backlog of these projects. "Alstom
is doing better. Most of the difficulties related to the integration of
Bombardier Transportation are now behind them," says Jean-Louis
Sempé.



Alstom must nevertheless consolidate the renewed confidence of the market by staying on track.

"The group's roadmap
is promising but it does not leave room for the slightest deviation",
underlines Frédéric Rozier of Mirabaud. Especially as short sellers are watching for the
short sellers are watching for the slightest misstep. At the end of May, the positions of
of these "shortsellers", measured by the proportion of Alstom shares lent, represented more than 10% of
shares, represented more than 10% of outstanding shares,
according to data from S&P Global Market Intelligence.

"Short
short sellers have a strong presence in the stock. To catch them
the group will have to generate positive cash flow for the current year," says
the current financial year," says Frédéric Rozier.



A buoyant business environment



Alstom seems to be on the right track. UBS considers that the growth of orders
of orders - and therefore of customer deposits - should support
should support cash generation and enable the company to generate
295 million for the current financial year,
687 million for the year ending March 2024.

"Despite the volatility in working capital requirements, the group should be able to generate
200 million to 300 million euros of cash flow per year".

300 million per year," adds Jean-Louis Sempé of Invest
Securities.



All other lights are green for Alstom. Its record order book of
81 billion euros at the end of March secures two-thirds of its revenues for the
two-thirds of its revenues for the next three years," said Deutsche Bank.



And demand is not drying up. Despite the deteriorating economic
economic environment "I see no sign of a global slowdown in
I see no sign of a global slowdown in rail investment," said the group's
Henri Poupart-Lafarge, the group's CEO, said last month.


The company has identified around €180 billion
in business opportunities by March 2025. In addition, almost all of its
almost all of its revenues (99%) are eligible for the European taxonomy
taxonomy, i.e. the European Commission's nomenclature for
Commission's nomenclature for directing investment towards 'green' activities.
"activities.



These assets are fuelling analysts' optimism. At 32.75 euros,
the average price target compiled by FactSet still gives the
potential of around 25% for the stock.


Alstom has laid the foundations for its
of its stock market recovery. All that remains is for it to follow up without further incident its railway to accelerate.





-Julien Marion, Agefi-Dow Jones; [phone];
[e-mail] ed: ECH


Translated with www.DeepL.com/Translator (free version)

[waldron] 07/6/2022 07:21

Metros
June 7, 2022
Written by David Haydock

Paris metro Line 12 extended
Line 12 now terminates at Mairie d’Aubervilliers.


The extension runs for 1.9km in tunnel.


PARIS Transport Authority (RATP) celebrated the opening of a 1.9km extension of metro Line 12 on May 31.

The extension runs from Front Populaire in Aubervilliers to Mairie d’Aubervilliers, with a single intermediate station at Aimé Césaire.

The project cost €243.9m and was financed by central government, the Île-de-France region and the department of Seine-Saint-Denis.

Line 12 is now 17km long with 31 stations. The extension is expected to add another 40,000 passengers to the existing ridership of 250,000 a day.

The new terminus at Mairie d’Aubervillers will become an interchange with Line 15, an orbital route being built under the Grand Paris Express project, which is scheduled to open in 2030.

RATP says the current fleet of MF67 stock operating on Line 12 will be replaced by 51 new MF19 trains by 2028.

They form part of a €2.9bn order for up to 410 MF19 steel-wheeled trains placed with Alstom in December 2019.

For detailed data on metro projects from around the world, subscribe to IRJ Pro.

[grupo guitarlumber] 03/6/2022 16:34

Updating On Alstom: It's A Positive


Jun. 02, 2022 8:01 AM ET


Summary

If you recall Alstom, it's a French infrastructure company in which I have a solid position at a significant undervaluation.

The company has had a truly amazing performance since I wrote about it on Seeking Alpha, and I'm happy I went fairly long in it.


We follow up the thesis, and I show you why I believe this is an excellent investment.

Looking for more investing ideas like this one? Get them exclusively at iREIT on Alpha

[grupo guitarlumber] 03/6/2022 16:19

Alstom Appoints Toby Tiberghien as Managing Director for East Asia

06/02/2022 | 04:34pm BST


Alstom has appointed Tiberghien Managing Director for East Asia, within the Asia Pacific region, effective as of today. He replaces Olivier Loison, who is taking over as India's Managing Director.


Currently based in Bangkok, Thailand, Toby is responsible for the execution of the Alstom in Motion strategy in East Asia, as well as the cluster's commercial and operational performance of iconic railway projects in the Philippines, Taiwan, Thailand and Vietnam.



Toby holds a master's degree in Industrial Engineering from the Lyon National Institute of Applied Sciences in France.

He started his career within China's energy sector in 2004, including Alstom Grid, having amassed vast experience in industrial, financial and site management functions.


Since 2011, Toby has been with the Alstom Group undertaking key project and operations management roles in China.


Notably, he led the inaugural launch of Citadis tramway in the Chinese market and oversaw various local rolling stock and components joint ventures.

From 2018 to 2021, Toby was the Operations Director for the former China and East Asia cluster before assuming the recent position of Turnkey and Rolling Stock Director for East Asia in 2021.

Through each of these roles, Toby has gained a track record of driving customer centricity and operational rigor to deliver solid project results.

[grupo guitarlumber] 03/6/2022 16:16

ALSTOM SA: 2021 Dividend Proposal at the Shareholders' Meeting of 12 July 2022 - Distribution Schedule
06/02/2022 | 09:46am BST


2021 DIVIDEND PROPOSAL AT THE SHAREHOLDERS' MEETING OF 12 JULY 2022

DISTRIBUTION SCHEDULE


ALSTOM

Joint Stock Company with a capital of €2,616,486,292

Registered office: 48, rue Albert Dhalenne, 93400 Saint-Ouen-sur-Seine

Trade and Company Register number 389 058 447 Bobigny


2 June 2022 – As already announced at the publication of the 2021 annual results on 11 May 2022, the Board of Directors has decided to propose to the Shareholders’ Meeting of 12 July 2022 the distribution of a dividend amounting to 0.25 euros gross per share, with an option for the payment of the dividend in cash or in new shares.

As a reminder, this rate corresponds to a distribution ratio of 35% of the adjusted net income before depreciation of the stake in TMH.

Subject to the approval of the Shareholders’ Meeting, the price of the share delivered in payment of the dividend shall be equal to 90% of the average of the prices quoted at the opening of the twenty stock market sessions preceding the date of this Shareholders’ Meeting, less the net amount of the dividend, rounded up to two decimal places after the decimal point to the next higher hundredth, in accordance with the provisions of Article L. 232-19 of the French Commercial Code.

The schedule for payment of the dividend will be as follows:

Ex-dividend date: 20/07/22

Record date: 21/07/22 after the stock exchange closes

Start of the option period for payment of the dividend in shares: 22/07/22

End of the option period for payment of the dividend in shares: 22/08/22

(Shareholders who have not exercised their option by 22/08/22 at the latest will receive their dividend payment entirely in cash).

Results of the option for payment of the dividend in shares: 24/08/22

Payment of the dividend in cash, settlement of the dividend in shares: 26/08/22

[waldron] 02/6/2022 08:32

Alstom: Goldman Sachs remains neutral with a target raised from 21 to 22 EUR

[gibbs1] 31/5/2022 19:04

Chris

best to follow the above link

[chrisbenno82] 31/5/2022 10:11

Pretty impressive rns to be fair. Only come across this company this morning.... tempted to dip my toe in

[grupo guitarlumber] 28/5/2022 08:39

DSB announces delay to delivery of Alstom EMU fleet International Railway Journal
12:55 Fri, 27 May


Alstom signs MoUs in Jakarta and Thailand International Railway Journal
12:35 Fri, 27 May

[sarkasm] 27/5/2022 07:23

05/26/2022 | 05:39pm BST


In a research note published by Simon Toennessen, Jefferies advises its customers to buy the stock.


The target price differs slightly and is now set at EUR 35 versus EUR 36.

[waldron] 25/5/2022 18:22

Alstom - London's Elizabeth line enters passenger service utilising Alstom's state-of-the-art Aventra fleet and critical infrastructure
05/25/2022 | 03:25pm BST


London's new Elizabeth line has officially opened to the public today. This project, valued at GBP19 billion, is not only a big milestone for the British railway industry but for all Londoners. Alstom, global leader in smart and sustainable mobility, has supplied trains, technology and infrastructure for this new line and will also maintain the trains. The transformational railway will reduce journey times, create additional transport capacity, improve accessibility and provide a huge economic boost to the capital and beyond. The Elizabeth line will be operated by MTR Elizabeth line as a concession of Transport for London.

Alstom's Managing Director (UK & Ireland) Nick Crossfield, Chief Operating Officer Danny Di Perna and Managing Director Services Peter Broadley were present at the official opening event on May 17, 2022 along with Her Majesty The Queen, UK Prime Minister Boris Johnson MP, London Mayor Sadiq Khan, Transport for London's Commissioner Andy Byford, the Transport Secretary the Right Hon. Grant Shapps and Crossrail Chief Executive Mark Wild.

'The Elizabeth line is set to transform London and become one of the world's leading urban transport operations. I'm immensely proud of the leading role Alstom has played in the Crossrail project, and will continue to do so delivering reliable, high-quality trains for Londoners.'

Nick Crossfield

Managing Director, UK & Ireland, Alstom

'The Elizabeth line is set to transform London and become one of the world's leading urban transport operations. I'm immensely proud of the leading role Alstom has played in the Crossrail project, and will continue to do so delivering reliable, high-quality trains for Londoners,' states Nick Crossfield, Alstom Managing Director, UK & Ireland.

The new railway through central London uses Alstom's Class 345 Aventra fleet between London Paddington and Abbey Wood station. The state-of-the-art trains, already in service between Paddington, Heathrow Airport and Reading on the west, and also run between London Liverpool Street and Shenfield on the east. The seventy 7- and 9-car trains have been designed and built at Alstom's Derby factory and are maintained by Alstom at Old Oak Common depot in West London. Alstom will maintain the trains for the next 32 years as part of the rolling stock and services provision contract.

The Alstom-led ATC joint venture, formed with partners TSO and Costain, has designed, constructed, tested and commissioned critical infrastructure works for the new 55-kilometre line. ATC has delivered the traction power supply for the trains, incorporating Alstom's in-house feeding systems, non-traction power supplies for the stations, shafts and portals, tunnel ventilation systems and other electrical and mechanical systems, laid the track (including 5500 HAS sleepers), and built a new maintenance depot at Plumstead. ATC has been the Principal Contractor for the entire railway construction, managing safety, logistics, testing and commissioning between more than twenty interfacing contractors.

Andy Byford, London's Transport Commissioner, said: 'Alstom UK has been a key delivery partner in the Elizabeth line and played a major part making it possible to open this transformational railway today. Providing trains, technology, infrastructure and maintenance, they will help ensure Londoners and visitors benefit from reliable and more accessible journeys across the capital.'

Building on Alstom's expertise in the UK rail sector over the last 20 years, the Aventra solution has been developed to meet both urban and mainline rail requirements. Thanks to its modular vehicle design, the Aventra trains offer high configuration flexibility to maximise capacity and accommodate different operational needs such as high-capacity metro, commuter, regional and intercity services. Train customisations include various car lengths with one to three doors per car side, three different front ends and different seating arrangements and comfort levels. The Aventra solution features digital capabilities such as full colour displays for modern passenger information delivery, fast 4G WiFi and smartphone integration, improving passenger comfort and convenience. More than 2,600 Aventra cars have been sold in the UK since 2014, making it the UK's leading train.

Alstom and Aventra are protected trademarks of the Alstom Group.

Contact:

Alstom HQ

T: 33 (0)1 57 06 90 00

[the deacon] 24/5/2022 15:01

Sprott 5%+

[catsick] 23/5/2022 09:30

Thanks for the explanation, makes sense now, I do think this is the right strategy, just not paying such a high interest rate to do it ...

[florenceorbis] 20/5/2022 15:44

BofA reiterated on Friday its "underperformance" opinion on Alstom shares, with a price target lowered from 17 to 16 euros.

After having carefully considered the 2021 annual results of

the railway equipment manufacturer, the broker says he has not noticed any signs

improvement of its fundamentals, but rather noticed a

deterioration of some indicators.

[robertstronghand] 20/5/2022 12:37

They are valuing Alphastream 3 at $17.5m. Alpha 2 & 3 were acquired for $37.5m.

[robertstronghand] 20/5/2022 12:24

Alphastream 3 is the Aussie Royalties they did have 80% of, they still own Bonikro 50/50 with Alphastream through Alphastream 2. I posted on the Trident thread about the interview with Randy, the CEO of Wheaton, great time for cashed up streamers as credit is tight and the equity prices for juniors are depressed so equity funding is unpopular. Not great but market conditions are what they are, still think the key is selling Diba but the latest presentation has that as likely in 2023. Still now gold has retested the breakout we have a clear path to much higher prices in H2, which should translate in to a much higher equity price.

[catsick] 20/5/2022 10:40

Im still scratching my head over the sense of this deal, they just bought these royalties, did they just sell what they just paid9 million for 5 or is there a more rational explanation??

[the deacon] 20/5/2022 08:49

They've kicked the loan repayment date down the road to 31/12. Clearly they need working capital, so rather than issuing equity again they've hosen to sell some of the royalty interests. Poor all round imv.

[catsick] 20/5/2022 08:45

So altus paid 24m usd for 80% and now they sell 30% for 5m or is there some other debt that funded the purchase or are they selling at a loss , would be nice for them to make it clearer even if it is a loss, which I can't believe after 6 months