Bisichi Share Discussion Threads

[tim000] 31/8/2022 22:08

Having analysed the figures, the company did well to make so much profit given a 40% shortfall in production. They overcame that by a 10% overshoot in export volumes, a large increase in bought-in coal to process through their own CHPP, and very good cost control despite tough mining conditions. Negatives were a disappointing performance of the equity fund (aka cash reserves) and a fairly high level of capex that was unexplained - is this going to increase productivity going forward or was it unproductive investment arising from mining problems? Looking to H2, the company has said mining conditions and coal quality have improved, resulting in higher pricing. If they can maintain the H1 rate of exports and bought-in coal, and add 200k tonnes to production, they’re going to make sensational profits in H2.

[e43] 31/8/2022 22:00

Yes the company's building a v strong position now 2 months into H2 ,a little unlucky choosing an awful day for energy/resource stocks to release your results,so likely to be well bid when the market settles again.

[andydaf] 31/8/2022 19:48

Profits beat my own estimates and as many will know i was bullish.Thought this dividend would be smaller than many expected but i think the directors were always going to ensure the company was on a sound financial footing.Also its important to remember any expansion of the coal operations will be needed to be funded by cash as banks are reluctant to finance coal projects.However if my suspicions are right and coal remains higher for longer than many suspect i am sure TGA style dividends are on their way.GLA

[rimau1] 31/8/2022 17:40

Bisiboy - a holder since 2008 and you ask where is the transparency on the equity fund?!!! Hilarious. They never have provided any. Ever. I have been complaining about this equity fund for a while, leave equity investments to fund managers IMO.

[bozzy_s] 31/8/2022 15:39

Never thought I'd see the day of 10p interim dividend for BISI. Congrats to everyone who recognised the ridiculously high coal price would lead to these results. My only reason for bailing early was BISI's history of paying directors before shareholders. Looks like there's enough to cover both now.

[bisiboy] 31/8/2022 14:56

Where is the transparancy on the equity fund

[bumpa33] 31/8/2022 13:35

Bumpa3331 Aug '22 - 08:22 - 516 of 525 Edit
0 1 0
the spread has nothing to do with volume - there’s no liquidity. This could well be ten quid in a day or two though.


Then again, maybe not…!

[tim000] 31/8/2022 12:50

The cashflow statement explains this. Increased investment includes ca £3.3 mn investment into the equity fund, not just investment in plant & machinery. Unfortunately the equity fund hasn't shown any great profits to date.

[gaffer73] 31/8/2022 11:19

Investments were -8m

[8gggggggg] 31/8/2022 11:03

Where has all the money gone !!?Cash only up from £ 3.5 to £. 5.1But Investing activities up to £ 8.6 Any ideas?Dakas

[horndean eagle] 31/8/2022 10:13

The company were investing a fair chunk in the half and so cash balances haven't ballooned as they might have done ordinarily. Second half likely to be much better. The problem as flagged is directors and them running both LAS and BISI for their own ends. I imagine they will pay bigger dividends in due course. They will want to extract cash for LAS and themselves.

[e43] 31/8/2022 09:40

Yes ROBIZM dividend is a little mean,I was expecting nearer 20p.
Big plus is moving into new mining area ,increased production of higher quality coal in H2 with improved domestic mkt prices to go along with the excellent current export prices equals even stronger H2.

[robizm] 31/8/2022 09:13

£21 million profit £1 million dividend. They don’t change and I bet directors will get more than shareholders. TGA if you want dividends.

[someuwin] 31/8/2022 08:51

Profit takers out - buyers coming in.

[rimau1] 31/8/2022 08:44

If we maintain similar H2 coal prices to H1 and with a near doubling of H2 production by year end PAT should be in excess of £40m / greater than the current market cap.

[tim000] 31/8/2022 08:24

There's no liquidity because of the spread. £10 would be reasonable.

[bumpa33] 31/8/2022 08:22

the spread has nothing to do with volume - there’s no liquidity. This could well be ten quid in a day or two though.

[tim000] 31/8/2022 08:20

The spread is killing volume.

[tomboyb] 31/8/2022 07:54

Indeed -

10p dividend as well -

[someuwin] 31/8/2022 07:52

Jaw dropping!

[tim000] 31/8/2022 07:46

Profit after tax £21 mn! Over half of mkt cap and outlook is for a much better H2!

[tim000] 31/8/2022 07:44

Very conservative cash management. They do say they're looking for new investments in the coal mining sector.

[tim000] 31/8/2022 07:37

Despite the mining difficulties and low production, profit after tax was ahead of expectations. Results in H2 should be very good indeed given coal quality and mining improvements. Dividend is below expectations! And not paid until next year!

[tim000] 30/8/2022 09:06

Our peer BEN has 3.3x our mkt cap but is loss making. We think we're trading on a forward p/e of about 1. I think BEN investors for one would be wise to switch horses tomorrow.

[tim000] 30/8/2022 09:01

His supply is not infinite, the overhang will be cleared sooner or later. And investors are attracted to a share where the price is being held down artificially, but temporarily, it's a rare opportunity to accumulate cheaply. Price will soon be determined by fundamentals, not short-term trading.