Celsius Resources Share Discussion Threads

[davydoo] 02/4/2014 14:54

thanks db. Not an investment for me, due to the concentration risk (aircraft and airline) but just shows how high the income can be if the aim isn't to recycle lease income into new aircraft.

[davebowler] 02/4/2014 14:43

hxxp://www.dnairone.com/investors/quarterly-factsheet.html

hxxp://www.dnairtwo.com/investors/quarterly-factsheet.html

hxxp://www.dnairthree.com/investors/quarterly-factsheet.html

[harrogate] 06/3/2014 10:49

Fair point ... ok couldn't get more for the shares than 15p !!!

[dasv] 06/3/2014 10:45

harrogate - who says they were "happy" with that price?

[harrogate] 06/3/2014 08:52

Yes but at what price. Someone was happy to accept 15p for 1.7 million shares

[sharpish] 06/3/2014 08:44

Could be an AVAP buyout here in the long run perhaps? Rather than leaving it as is - underfollowed and trading well below NAV.

[harrogate] 05/3/2014 16:10

Yes but good for AVAP shareholders !! Are you guys sure that you should be holding CLA and not AVAP?

[callumross] 05/3/2014 16:05

Avation now bought 1.7m shares today but wouldn't it have been better for CLA shareholders if CLA had bought them in and thereby increased NAV, just like they bought a chunk a month or two ago.

[russman] 04/3/2014 19:12

As it was the 9 month timeline for the bridge, I suspect Ferre has been repaid. Sooner this "bridge too far" can be refinanced at a lower rate the better.

[dasv] 04/3/2014 14:59

nice earner for Jeff cleaerly but surely better loan rates can be obtained elsewhere.

[harrogate] 04/3/2014 14:34

That is what I thought. But I agree with the loan facility that AVAP has just put in place surely it could have been used in some way to take out all the 9.5% debt regardless of the messiness of the Jeff loan. I agree it is not great. But that is what you get with these guys.

[davydoo] 04/3/2014 12:44

The RNS doesnt make clear whether Soeren Ferre has been repaid yet, or is this what you think it is?

[davydoo] 04/3/2014 12:43

Sorry, missed that bit.

Whilst I can see Jeff's logic, lets pay me instead of the bank, I dont think this is good for the business.

What price relationships and credit records with commercial lenders?

[callumross] 04/3/2014 12:32

Exactly the same Davydoo. The statement makes clear that there is no effect on debt funding costs.

[davydoo] 04/3/2014 12:12

What were they paying on that junior debt? if paying Jeff 9.5% is a better deal!

[envirovision] 17/2/2014 22:53

Fall is a bit of a shocker

[russman] 17/2/2014 22:38

They still have not sorted out the $5m Bridge Loan.

[dasv] 17/2/2014 12:25

Some back of envelope type thoughts:-

Headline Discount to NAV is currently 50%.

They've got total balance sheets of £58m (assuming 2x revenue 6 month for 12 month figures), that's a 13% yield on the assets.

However they will be paying out interest on financing of (58m-28m) £30m debt.

I expect that's the reason why for £3.9m there's £776k profit at the end of it.

I think this could explain the RNS mention of re-financing/junior debt.

If they can borrow cheaper then the profitability gears up.

New lease deal is reassuring but lower yield means future earnings will be dampened. An expansion of the fleet plus cheaper financing is key for a step change in earnings.

It still remains an under valued, if illiquid, asset play (imo) with £28m assets for a market cap of £14m.

[diku] 14/2/2014 17:48

The price has been super glued to stay flat..

[callumross] 12/2/2014 09:57

Interim results due out next week so hopefully things will be clearer then.

[davebowler] 03/2/2014 15:57

Investec on Doric -note premium to NAV on a single asset.
Aircraft Leasing

Doric Nimrod Air One (DNA) Dividend Declaration

¢ Declaration of Dividend: The directors have declared a third interim dividend of 2.25 p/ share for the financial period ending 31 March 2014.

¢ This dividend will be payable on or around 31 January 2014 to holders on record 17 January 2014. The corresponding ex-dividend date will be 15 January 2014.

¢ Future dividend payments are targeted at 2.25 p/share paid quarterly.

¢ A quarterly fact sheet is posted on the Company's website

¢ The Company has purchased one Airbus A380-861 aircraft, manufacturer's serial number 016 which it has leased to Emirates Airlines ("Emirates"), the national carrier owned by the Investment Corporation of Dubai based in Dubai, United Arab Emirates.

Investec Insights

¢ Doric now has an asset management portfolio of $8bn. Taking a bet with a single airline and single aircraft was always a risk for the strategy, but today we read that; "Emirates circles the globe over 18,000 times in 2013". Figures show the airline's fleet travelled more than 751 million kms throughout the year.

¢ Throughout the year, the airline has received 24 new aircraft-a combination of Airbus A380s, Boeing 777s and 777 freighters. Nine new passenger routes have been launched.

¢ April saw the landmark commercial deal with Qantas come to life. The new partnership brings the total combined number of weekly flights from Dubai to Australia to 98.

¢ August brought the fifth anniversary of Emirates' A380 operations. At the five-year mark, its A380 fleet had carried more than 18 million passengers on over 45,000 flights.

¢ DNA trades at +18.4% premium, DNA3 trades at a 16.3% premium and DNA2 trades at a 25.3% premium generating historic yields of 7.6%, 4.9% and 7.6%. This compares to DP Aircraft offering 2 Boeing 787-8 aircraft both on a long term lease with Norwegian Air Shuttle ASA, that trades at a premium of +4.1% and 6.9% dividend

[diku] 27/1/2014 22:20

Does this share ever go up or down?...

[russman] 20/1/2014 22:33

Page 18 CLA AGM Investor Presentation> CLA strategy being implemented> "Transfer to LSE main board when appropriate". How we are not told.

[davydoo] 20/1/2014 15:52

Why would AVAP delist? they have a main market listing, a diverse shareholder base, a vehcile for future fund raisings. totally different to CLA.

I hold CLA. Im not predicting this, just aware of the risk it could.