Share Name Share Symbol Market Type Share ISIN Share Description
Jtc Plc LSE:JTC London Ordinary Share JE00BF4X3P53 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  -10.50 -2.91% 350.00 402,462 16:28:00
Bid Price Offer Price High Price Low Price Open Price
350.00 375.00 375.00 350.00 375.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 77.25 -2.13 -3.87 388
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:00 UT 6 350.00 GBX

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Date Time Title Posts
23/10/201923:59JTCod's Blog79,348
20/3/201812:01JTC Group IPO March 18 1
19/2/200122:18JTC - up 20% wow . nm3

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Trade Time Trade Price Trade Size Trade Value Trade Type
2019-10-23 15:35:00350.00621.00UT
2019-10-23 15:28:09350.002691.00AT
2019-10-23 15:27:33350.002691.00AT
2019-10-23 15:24:32350.0052182.00AT
2019-10-23 15:20:30350.00104364.00AT
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Jtc Daily Update: Jtc Plc is listed in the General Financial sector of the London Stock Exchange with ticker JTC. The last closing price for Jtc was 360.50p.
Jtc Plc has a 4 week average price of 350p and a 12 week average price of 335p.
The 1 year high share price is 440p while the 1 year low share price is currently 272p.
There are currently 110,895,327 shares in issue and the average daily traded volume is 8,782 shares. The market capitalisation of Jtc Plc is £388,133,644.50.
7kiwi: Thanks JT. In the vernacular, I suspect SoftBank will be a basket case in the near future. There's not much difference between it and a Ponzi scheme for sovereign wealth funds imho. It's not just its "investment" in WeWork that's in trouble. Apparently they are $600m underwater in Uber too. hTtps:// Edit: More now since Uber's share price has fallen since that article was published. Case study in what happens when unicorns turn into donkeys.
mroalan: ReserveBankOfIndia ‏ Verified account @RBI Follow Follow @RBI More There are rumours in some locations about certain banks including cooperative banks, resulting in anxiety among the depositors. RBI would like to assure the general public that Indian banking system is safe and stable and there is no need to panic on the basis of such rumours. 3:13 AM - 1 Oct 2019 and this from the Slog today re Metro bank.mro. The share price has collapsed by 95%, and the FT is speculating that there will be a fire sale in the immediate future. My pension trustees ring-fenced half my fund with Metro. I sent them a recorded delivery letter in 2017 expressing extreme doubts about the bank’s business model. We had a somewhat tense conversation about the matter this afternoon. The case continues.
grannyboy: Well thanks frick for this thread being taken off original topic...After all bruciecrybaby was recommending EDEN as the share for 2019, when the share price was over's now well on its way to -8.. bruciecrybaby is about as prophaticlly successful at stock picking as it is so horribly, disgustingly wrong about being wanting to be shackled to the gangsters club..
mount teide: Brucie - "The Garden of EDEN" What did you make of highly successful professional shorter JakNife's analysis of yesterdays' results? ' The results are awful! * Revenue down - not a growth company * Revenue minimal - at a level that doesn't justify the company being listed to begin with * P&L shows losses but the losses are greater than shown in the P&L as costs are being capitalised, as shown in the cash flow statement * Hence P&L is minus £645k after tax but cash burn for the period is £1,121k * Tangible balance sheet is only just £3.3m versus market cap at 10p was £20.5m * cash at half year was £1,358, which at the current rate of cash burn will just about keep the company limping on for six months to the year-end * It quite obviously needs to raise cash What a complete and utter dog. These results are hopeless and completely and totally indefensible! If the share price were to fall 50% it would still be over valued! Are they selling in material quantities? No. And in consequence the company will make a full year loss and require a placing. If anyone had truely been here for the ”long term” then you’d realise that EDEN is a total scam and is currently on the “repeat” part of the “rinse and repeat” cycle. This is not the first time that they have tried to bring a head lice product to market! Over 20 years they’ve been pulling the wool over the eyes of investors! JakNife ' As I warned last year, and mentioned from personal experience; if JakNife (who gets an incredibly high percentage of his bear calls correct) is short a company or on your case - be very careful indeed if you're a shareholder in that company and value your wealth.
mroalan: Ian Fraser @Ian_Fraser RBS share price is now 197.4 pence. Gordon Brown's government paid 502p for a majority stake in 2008-9. What a gem that man was, mro.
mount teide: Some recent research by S&P Global Market Intelligence vividly highlights how difficult and expensive it has been for the Copper Sector Heavyweights to find new copper reserves through exploration. And why copper Juniors with global scale reserves/resources are currently exceptional value by comparison. The Copper Sector Fundamentals that will drive the market over the decade ahead: Copper Market Exploration spend: 1990 - 2008 - $15.4 billion - $0.85 billion/year 2008 - 2018 - $25.8 billion - $2.58 billion/year Exploration Yield: 1990 - 2008 - 992.5 Mt in 199 major discoveries - 55.11 Mt/yr - ave 11 discoveries/yr 2008 - 2018 - 102.4 Mt in 21 major discoveries - 10.20 Mt/yr - ave 2 discoveries/yr Source: S&P Global Market Intelligence Mentioned it previously but the above research is the primary reason why Nat Research Analyst Joshua Hall late last year carried out an examination of the World's copper juniors to identify those with reserves/resources of sufficient size/potential to be of acquisition interest to the majors(he identified just circa 15 - which included Asia Met and Solgold). As during the last copper market recovery stage(2000 -2008) the overwhelming majority of juniors with similar size assets were taken out by the sector's heavyweights at very decent premiums before commencing developing of, never mind producing from, the assets. Serratia over on the Asia Met thread responded to the above post/data by having a look at a comparison of the valuation of Asia Met and Solgold's reserves relative to the recent cost experienced by the mining sector heavyweights to find similar quantities through exploration. 'This implies it's costing $253m to find 1 mt of copper in the ground. Looking at explorers that have found copper. If majors were to pay the equivalent price they spend on exploration I related that to the quantity discovered to give a value of a couple of companies - ARS - 2.47 MT in ground equates to a share price of 48p a 7.9* increase from the present price. SOLG - 9.265 MT in ground equates to a share price of 98p a 2.66* increase from the present price.' Declaration: I hold large holdings in both the above companies and like Joshua Hall would be surprised if they managed to develop the assets before becoming the subject of M&A interest. AIMHO/DYOR
mount teide: Jadestone Energy Update - up 56% since its London market IPO last Autumn the share-price closed at a new all-time high on Friday and yet is still trading at barely the value of its P1 reserves - or circa 1.1 times estimated 2019 cash flow at an average of $70 Brent and mid range production guidance of 14,500 bopd(up circa 350% on 2018). Two shipping industry friends and I expect to hold our recently increased 2.6 million combined holding for at least 5 years, as we believe the tail wind of the recovery stage of this latest oil market cycle, combined with SE Asia's and the Pacific Rim's outstanding regional fundamentals for second phase operators, together with the highly talented management and, huge cash flow generating potential of the recent NW Australian Montara Oil Field acquisition driving the business over the next decade(current cash-flow is circa $55/bbl); make the investment case highly compelling/almost unique. As Wood Mac recently confirmed, there is a growing number of M&A opportunities for second phase operators emerging within the maturing O&G basins of SE Asia, Australia and the Pacific Rim as the majors and NOC's start to exit - with limited competition for the assets. Opportunities are often sold at distressed prices by North Sea standards. The fundamental value proposition however, is the reinvestment post acquisition, where Jadestone looks for greater potential than the acquisition price. The difference between Jadestone and the second phase North Sea players is that the company is focused on the Asia Pacific region where the returns are on average much higher, where the competition is very limited and asset purchase prices relatively modest (high quality assets are often sold on bilateral deals – no competition). What’s more, product pricing is highly favourable in SE Asia. Low sulphur crude oil is sold at a premium to Brent and natural gas is contracted in the range $8.00 – $9.00/mcf (an average of more than three times the US Spot market price over many years). In common with high performing Hedge Fund Manager, Jadestone NED and major shareholder David Neuhauser we believe Jadestone can be worth £1.50 - £1.75 a share by 2021 assuming management successfully execute the fully funded organic growth development programme. And perhaps much more if they add another Montara scale acquisition or two in the interim - certainly over a 5 year view). With the Montara oil price hedge providing huge downside cash flow protection over the next 18 months we see fair value today as somewhere in the 80-90p range. We consider Jadestone to be an extremely compelling investment opportunity with enormous cash flow generating potential at $70 Brent and with outstanding growth prospects, that has relatively limited downside risk, as a result of having an early life $108 million converted cost FPSO servicing the Montara field, generating circa $20/bbl op expenses for the field, its satellites and FPSO on production of just 11,000 bopd - Premier Oil's North Sea Catcher Field FPSO op expenses on a similar production volume would be circa 5-6 times/bbl higher! The Jadestone management are highly experienced at operating in the industry within the Asia Pacific region and have a longstanding relationship with the principal stakeholders, and deep insight into many regional M&A opportunities. They’re credited with already creating two highly successful independent E&P businesses - one in the North Sea and the other in Asia Pacific and like Jadestone's two high performing hedge fund shareholders who jointly now own 33% following further heavy buying, we believe the management can replicate this success again with Jadestone; not least since they're now operating with the advantage of the recovery stage of a new oil market cycle rather than the head winds of the much more demanding decline stage of the investment cycle they mostly experienced when running Talisman Asia. The management of Talisman Energy (North Sea) developed the business to become one of the leading second phase operators in the North Sea during the recovery/boom stage (2000-2008) of the last oil market cycle and then proceeded to demonstrate this was no fluke by starting Talisman Energy (SE Asia) and, remarkably building that company from scratch into a $6bn turnover second phase oil field specialist operating in the SE Asia region during the far more challenging oil market decline/recession stage(2009-2016), until Repsol bought them out in 2016. The astonishing progress made developing the Jadestone business since the London IPO last autumn is such, that despite the 56% rise in the value of the shares, Jadestone is still trading at a deep discount to the value of the company’s assets and cash flow generation compared to their peers - as a consequence we consider there is still a very wide margin of safety here. We believe an investment in Jadestone is not a direct play on oil and gas but a play on the management’s ability to successfully execute high quality organic growth projects and, identify and buy distressed and mature assets at attractive prices and develop these through reinvestment. If the astonishing Montara acquisition deal(forecast by management to generate $230 million of cash flow in 2019 at an average of just $65 Brent - for an asset that had a net purchase price of just $82 million barely 6 months ago; with a young age $108 million converted cost near million barrel FPSO ship thrown in for free!), and their incredible track record at Talisman Energy in the North Sea and SE Asia over the last two decades is a reliable guide, our investments here are probably in as safe a pair of hands as the industry can offer. AIMHO/DYOR ps: the cherry on the well iced Montara Acquisition Cake is the $3 billion of tax credits to offset against petroleum resource rent tax (PRRT), a profits-based tax used to tax oil and gas companies in Australia.
mount teide: Alp - seems to be a long history of UK and US Nationals failing to have much success going up against Foreign State Organisations - Bill Browder of the Magnitsky Act fame found this to their appalling cost in Russia with his hugely successful Hermitage Capital investment fund. Hermitage CEO Browder: Don't Invest in Russia Today hTTps:// Mercantile Ports and Logistics - Pleasing to see that India has an extradition Treaty with the US - preventing the former CEO and now its high paid 'consultant' from doing a runner to avoid joining his fellow accomplices in the dock, charged by US Law Enforcement with carrying out a $200 million securities fraud. However, what is totally unacceptable is that MPL shareholders should be picking up the tab for his 'consultancy' fees while he's in the Dock! Many shareholders will also be interested in how much these consultancy fees are and by how much they differ from what he was PAID(Not Earned) for 9 years while he was masquerading as the self serving CEO responsible for delivering a catastrophic 99% share price fall since IPO. Indeed, as one irate shareholder so eloquently put it - US Law Enforcement might be interested in the former CEO(in name only) obnoxious boast's to him about "earning £millions" from his other 'jobs' around the time the alleged $200 million securities fraud was carried out. It is great to know the shyster i talked to on the phone for over an hour on a number of occasions during 2016, following which i along with my two friends sold 99% of our holdings - was subsequently arrested and charged by US Law Enforcement for allegedly carrying out a $200 million securities fraud. What a management Mercantile has: Executive Chairman arrested, charged and convicted of industrial scale securities Fraud at three companies but incredibly, manages to cut a deal with Indian Law Enforcement/Stock Market Regulator to just pay a fine to keep himself out of prison - and now fighting a writ alleging the siphoning of tens of $millions of cash from another company he had executive responsibility for into companies owned by him and his family! Former CEO and now Consultant to the company, arrested and charged with carrying out a $200 million securities fraud on US soil. Considering the colourful history of the Mercantile Ports and Logistics management - i am considering putting forward a proposal at the next AGM to rename the company: Mercantile £200 million Never Built Port and Securities Fraudsters Ltd Since it is obvious that with the recent company announcement that they have decided to stop any further Land Reclamation - did it ever re-start? other than to complete a further 15 acres in 3 YEARS to facilitate scamming another £70 million from totally clueless Institutional Investors in London - the land reclamation for the 100 acre Logistics Park of the 200 acre port development, as detailed in the AIM Admission Document nearly 10 years ago and for which the NOMAD representative said the November 2016 £37 million cash raising was specifically for - in fact, as we predicted at the time, posted here and told him directly via a long and heated telephone discussion which ended in a shouting match, would prove to be nothing more than a crudely crafted fraud. How right we were! AIOHO/DYOR What a difference two years years makes: JNPT Mega Container Terminal 4 v Karanja Barge Terminal (a scam now in its 6th year of construction - with a 2 year contractual/licensed build duration - and still yet to complete 50% of the Land Reclamation on which to develop the terminal!) Between June 2016 and March 2018 - just 5 miles away the same contractor reclaimed 225 acres of land for port group JNPT in a 20 metre deep fast flowing harbour channel, and built a deep sea container terminal with a 1,000 metre heavy duty quay quay capable of handling the world's largest container ships and a 1 mile long container freight train handling facility. While at Mercantile's Karanja site, virtually no further progress has occurred despite management telling the market in November 2016 - using AIM's greatest ever work of fiction (AGEWOF 1) to scam another £37m from Institutional Investors(since increased to £70m by way of AGEWOF 2 ) - that the land reclamation work for the 200 acre project would be complete by Q2/2017 and the terminal operational! Two and half years later furious shareholders find out they had been fed a complete pack of lies, as just 15 more acres of land had been reclaimed, and that the total land reclamation, never mind the above ground port development, is still not even half complete! hTTps:// - JNPT Terminal 4 - June 2016 hTTps:// - JNPT Terminal 4 - Dec 2016 hTTps:// - JNPT Terminal 4 - March 2018 hTTps:// - Karanda - Dec 2016 hTTps:// - Karanja - June 2016 hTTps:// - Karanja - March 2018 hTTps:// - MPL Site Carpenters as Work
mount teide: Jadestone Energy Update - share price is on the cusp of breaking out to a new all-time high buoyed by management guidance of a near doubling of output for 2019, as production from its two offshore Australia oil fields ramp up. The longer term production forecast is for a further doubling of the 2019 guidance figure to circa 30,000 boepd by 2023 - expected to be achieved through a self financing program of organic growth. Significant downside protection is built into the long term forecast imo by: * An expected long term(10 year) Nat Gas supply agreement with Vietnam Government based on a fixed price(very high regional rate with yearly uplifts), together with a modest field development cost and potentially very low field operating expenses. * The self financing production development plan through to 30,000 boepd is based on $50 Brent * Production could be circa 20,000 bopd as early as H1/2020 from Capital spending of US$116-131m scheduled for 2019. * High potential for the operating expenses per barrel at both recent acquisitions - the Montara and Stag Oil Fields - to fall to the $15-$20/bbl range over the next 15 months from the current $21-$30/bbl range(both down from a $50-$75/bbl range on takeover), from the respective production development plans alone, before any further contribution from improving field operating efficiencies/costs etc Should the management deliver a production growth performance remotely close to the 2023 target, a valuation of many multiples of the current share-price should potentially be achievable - with the added prospect of an accelerated timeline to 30,000 boepd from the acquisition of further high quality, competitively priced but poorly managed Australian oilfield assets similar to Montara and Stag. At Stag and Montara, that Jadestone were able to dramatically slash operating expenses while simultaneously increasing field uptime and production and raise safety standards, strongly suggests that while operating offshore Australia may be relatively expensive, a material element of the higher operating expenses of some producing assets is being generated as a result of low productivity/poor management. For Jadestone to reduce so quickly operating expenses at Stag and Montara from $75/bbl and $50/bbl to circa $30 and circa $20 respectively, strongly suggests both assets had serious management issues that were not being addressed under the former owners. Aussie Rupert Murdoch hated corporate bureaucracy, loathed committees, consultants and strategy. His greatest strengths were decision making and re-engineering businesses – intuiting that a bad decision was better than none at all. When he took over The Sun it was losing £200k a year, within 6 months it was making that a week. Consequently, if Jadestone has been able to halve the head count at Stag and still raise production and operating standards, why change a highly successful acquisition strategy that is bearing such a rich bounty of fruit? - Jadestone's plan to use Aussie oil field owners data rooms to identify more mid/late life shallow water Aussie oil fields with re-investment potential, that in the current oil price environment are producing poor results largely from being very inefficiently operated with highly expensive staff is proving very sound. Jadestone currently produces circa 5% of Australia's oil production. Interview late last week with the CEO Paul Blakeley, where he explains the plans for the recent Montara asset off the coast of Australia, which he believes is one of the best opportunities he has seen in the last 25 years. hTTps:// AIMHO/DYOR
henryatkin: Aleman...US stock buy backs are now at levels not seen since 2000 & 2007, yet the buy back companies index is lagging the S&P 500 year to date. At the same time ROI on buybacks has steadily diminished over the past five years. To my mind we eventually reach a point in market timing where buybacks are the only buyers in town. edited. I didn't realise it was a subscription page> Full text U.S. companies are buying back record amounts of stock this year, but their shares aren't getting the boost they bargained for. S&P 500 companies are on track to repurchase as much as $800 billion in stock this year, a record that would eclipse 2007's buyback bonanza. Among the biggest buyers are companies like Oracle Corp. , Bank of America Corp. and JPMorgan Chase & Co. But 57% of the more than 350 companies in the S&P 500 that bought back shares so far this year are trailing the index's 3.2% increase. That is the highest percentage of companies to fall short of the benchmark's gain since the onset of the financial crisis in 2008, according to a Wall Street Journal analysis of share buyback and performance data from FactSet. And the historic spending spree on share buybacks has some analysts worried companies are buying their shares at excessive valuations during the peak of the economic cycle and at a time when the market rally is nine years old. Others warn the billions of dollars spent to buy back shares could have gone toward capital improvements like new factories or technology that could lead to stronger long-term growth. "There has been less of a reward for companies engaging in new buybacks over the last 18 months," said Kate Moore , chief equity strategist and a managing director at asset-management firm BlackRock Inc. "It's fair for investors to ask whether companies are buying at the right point." The S&P 500 Buyback index, which tracks the share performance of the 100 biggest stock repurchasers, has gained just 1.3% this year, well underperforming the S&P 500. Share buybacks have become corporate America's go-to strategy for boosting stock prices and earnings over the past 30 years. The point of buybacks is to try to make a company's stock more valuable. By mopping up shares, a company shrinks the stock pie, which boosts earnings per share. That, in turn, should push the share price higher. The potential problem: Executives directing buybacks are essentially timing the market, and often they end up buying high. Buyback activity reached a frenzy in the early 2000s; the previous record for share repurchases was $589.1 billion in 2007. But that was just a year before the stock market tumbled into the worst financial crisis since the Great Depression. The result: companies like Exxon Mobil Corp. , Microsoft Corp. and International Business Machine Corp. each paid more than $18 billion to repurchase stock at a peak, only to see their share prices slump a year later. Stock buybacks appear just as ill-timed now, some analysts and investors say, especially as companies ramp up spending after last year's $1.5 trillion tax overhaul put extra cash in their coffers. Oracle has been one of the biggest buyers of its own stock in recent years and spent $11.8 billion on stock repurchases last year, when shares gained nearly 23%. But that gamble hasn't looked smart this year as the networking- device maker has struggled alongside the broader market, pulling its shares down 6%. Still, Oracle's board approved a fresh round of share buybacks totaling $12 billion in February, and executives appear to have spent nearly half that sum already. A representative from Oracle declined to comment on its share buyback program, but the company said in a recent Securities and Exchange Commission filing that it "cannot guarantee" its share repurchase "will enhance long-term stockholder value." Others like McDonald's Corp. , Bank of America and JPMorgan Chase have spent billions on share repurchases this year, but haven't seen a short-term bounce in share prices. McDonald's bought back $1.6 billion of shares in the first quarter, but the fast-food chain's stock is down 7.4% this year. Bank of America and JPMorgan Chase have both spent more than $4.5 billion to buy back their shares, which are down 5% and 2.7%, respectively. All three companies also spent multibillion-dollar sums on buybacks in 2017 as the stock market hit repeated highs. Companies in the S&P 500 that have repurchased shares are expected to see a return on investment of about 6.4% this year, a percentage that falls below the past six rolling five-year periods as measured by Fortuna Advisors , a financial consulting firm that has examined buyback trends going back to 2007. Returns on investment for buybacks peaked in 2013, according to Fortuna's analysis, as companies used share repurchases to boost earnings and dig themselves out of the depths of the financial crisis. With stock prices relatively low at the time and economic activity tepid, share buybacks were one of companies' key sources of earnings growth. But even as the stock market steadied in the subsequent years and economic growth around the world picked up to help boost profits, corporate executives continued to spend wildly on share repurchases -- often at the expense of other types of spending, including dividends and capital improvements. Spending on capital expenditures rose to $166 billion in the first quarter, up 24% from a year earlier, according to Credit Suisse , but still well below the $189 billion spent on buybacks. "The majority of capital deployed is going right back to shareholders and not reinvestment in businesses," said Gregory Milano , chief executive at Fortuna. "If that's the only thing you're relying on, it's going to end badly." Some share buybacks do pay off, but that tends to be among companies that show a high level of sales and earnings growth on their own, analysts say. Apple Inc. , for example, has bought back $22.8 billion worth of stock so far this year. Its shares have risen 11%, with much of the boost coming after it reported strong gains in second-fiscal-quarter revenue and profit -- as well as a record $100 billion plan to buy back more stock. "Corporate America has such an obsession with bottom-line growth," said Jay Bowen , president of Bowen Hanes & Co. , manager of the $2 billion Tampa Firefighters and Police Officers Pension Fund . "Long term, I don't like it." Write to Michael Wursthorn at (END) Dow Jones Newswires 07-08-18 0900ET Copyright (c) 2018 Dow Jones & Company, Inc.
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