Theresa May ‘declares war on plastic’ in Government’s Environmental Plan – Sky News

A £61.4m war chest to fight the rising tide of plastic pollution in the world’s oceans has been announced by the Government.

Theresa May has set out plans to get rid of avoidable plastic waste within 25 years – as she also confirmed the 5p bag charge will be extended to all shops.

The Prime Minister said she wanted to “make ours the first generation to leave the natural environment in a better state than we found it”.

Unveiling her Environmental Plan in a speech in west London, she called plastic “one of the great environmental scourges of our time”.

Single-use plastic wasted every year in the UK would fill the Royal Albert Hall 1,000 times, the PM said.

Supermarkets will also be encouraged to have plastic-free aisles where items such as fruit and veg are loose rather than wrapped up in film.

Charges and taxes on single-use items, for example takeaway containers, will also be considered.

And the 5p plastic bag charge will now also be brought in for smaller shops, which were previously exempt.

But critics of the plan have called it a “missed opportunity” and say it should be underpinned by new laws in order to hold the Government and businesses to account.

Speaking at London’s Wetland Centre, Mrs May insisted that Brexit would not lead to lower environmental standards.

She said: “We will incorporate all existing EU environmental regulations into domestic legalisation when we leave.

“We will set out our plans for a new, world-leading independent statutory body to hold government to account and give the environment a voice.”

Other pledges include aid to help developing nations reduce plastic use and a new Northern Forest from Cheshire to Lancashire and Yorkshire.

There was no confirmation in the PM’s speech of a suggested 25p charge on the millions of disposable coffee cups used each year – of which only a tiny percentage get recycled.

Link here for the full article on the Sky News website

Sky’s Ocean Rescue campaign encourages people to reduce their single-use plastics. You can find out more about the campaign and how to get involved at www.skyoceanrescue.com

Lithium – Market correction, or buying opportunity?

Article by Kiran Morzaria, CEO of Cadence Minerals Plc #KDNC

View this article on Linked-IN here

Lithium stocks enjoyed a stellar 2017, with gains ranging from 50-114%. In contrast, Q1 2018 has been a period of under performance, with major producers down between 26% and 16%. Ultimately this was driven by the markets perception of a potential oversupply of lithium compounds to the battery market.

It could also be argued that Morgan Stanley analysts played a role in this downward movement. In February 2018, MS released results of a lithium survey, forecasting that growth in electric cars will be “insufficient” to offset rising supply of lithium from Chile.

MS also forecasted that lithium prices would drop by 45% by 2021, basing its findings on new lithium projects and planned expansions by the largest producers in Chile, which, according to MS “threatened to add” around 500,000 tonnes per year to global supply by 2025.

However at Cadence Minerals we believe MS are fundamentally wrong on a number of counts.

Firstly, the EV industry is a wholly disruptive technology, in the same way that that the internal combustion engine disrupted the horse and cart in less than 10 years.

A disruptive technology completely displaces the incumbent technology (think of the printing press, colour tv, mobile phone and smartphone). This comes about as a result of exponentially reducing cost curves and the convergence of technologies and business models which result in upto a 10 times decrease in costs.

The result is an s curve type adoption (see graph above) where the current technology is replaced in as short a time as 10 years. The EV has these characteristics (as do solar panels coupled with batteries for power storage) and as such it will be economics and not the environment that will lead us to adopt electric vehicles more quickly.

Ample evidence already exists for huge exponential growth in the EV market: in Norway nearly a third of all new cars sold in the country this year will be a plug-in model – either fully electric or a hybrid – and experts expect that share to rise to as much as 40% next year.  It will be economics and not the environment that will lead us to adopt electric vehicles

History is littered with examples of corporate strategists dismissing disruptive technologies: AT&T were told by Mckinsey that the mobile phone industry would deliver modest growth during the 1990s with some 900,000 handsets sold. So AT&T decided not to participate. That number in fact came in at 109,000,000, costing AT&T dearly.

Secondly what many forecasters fail to understand is that these types of projects tend to be commissioned late and are still subject to financing. Again we only have to look in to the recent history, in 2010 it was forecasted that by 2015 there would be an additional 150,000 tonnes of lithium compounds in the market form new projects. In fact it was just under 17,000 tonnes. Given this history it is easy to see how supply could fall well short of the 500,000 tonnes by 2025. We have previously highlighted why 200,000 tonnes of this is likely to take longer and may not occur, the article can be found here.

MS forecasts that the price of lithium carbonate will fall from $13,375 a tonne to $7,332 a tonne by 2021, and then towards its marginal cost of production at $7,030 a tonne thereafter. In making this forecast they have applied some of the most optimistic factors to construction and commissioning and applied a linear approach to growth curves, which for a disruptive technology is inappropriate.

Cadence Minerals firmly believe that the next few years will see a supply bottleneck in battery grade lithium compounds and that should mean prices will at least remain stable and at best increase. For us, this is both reassuring and exciting, as Cadence invests in projects that have the ability to deliver production in the lower half of the cost curve (e.g. below US$4,000 per tonne of lithium compound), which at current prices would result in gross margins of 300%.

We also see that European, American and Asian EV manufacturers are seeking to source local lithium carbonate supply to minimise transfer costs. Recognising this, Cadence Minerals are strategically invested into lithium assets around the world that exist close to EV manufacturing hubs.

In summary, as a result of fully informed, forward looking early investment decisions taken by our team, today Cadence Minerals has exposure to world class assets and, we believe, the next lithium compound producer. Cadence offers one of the strongest investment propositions available anywhere across the diverse and complex lithium to EV market.

Source: Cadence Minerals market data

Source: FT Feb 26th 2018

Source: Guardian Dec 25th 2017

Source: Cadence Minerals own dataset

Source: Rethinking Transportation 2020-2030, Tony Seba

Ian Pollard – Weir Group #WEIR, 50% rise in oil, gas & shale revenues

Weir Group plc WEIR performed strongly in its main markets and first quarter orders grew by 22%, with minerals up by 13%. Oil and gas led the way with a 50% rise after strong drilling and completion activity in North American onshore. Further success was encountered as it became the preferred provider to major shale pressure pumpers. Weir has also announced the acquisition of ESCO which has a  world-class team and will add another leading global brand.to its porfolio. It also intends to start the process of selling Flow Control with the aim of reallocating capital to build further on its core platforms.

Unilever ULVR made a good start to he year with first quarter sales  growth of 3.4% and emerging markets doing even better with 5.1%. The quarterly dividend is to be increased by 8% after what the company describes as a good volume driven performance across all three divisions. Markets in Europe remained challenging as a resut of weak consummer demand, prie deflation and a challenging retail environment, especially in France. A triple whammy if ever there was one.

Rentokil Initial RTO has started the year well with ongoing revenue up by 15.7% at constant exchange rates. although on an organic basis revenue growth of 3.2% was down on last years 3.7%. Another year of successful growth is expected for 2018 despite unseasonably cold weather in March having delayed the onset of the US pest season.

Telecom Plus TEP produced record levels of revenue, profit and dividends during the year to the end of March. The final dividend is to increased by 4.2% from 48p. per share to 50p.The success was achieved despite  a challenging environment created by record industry levels of domestic customers switching suppliers which TEP managed to keep below the industry average with its own customers. Profit before tax for 2019 is expected to be in the region of 55 to 60m.

Essentra plc ESNT proclains that it is continuing to “drive its stability agenda”. That must mean something when translated into Engish and I will try and discover exactly what before the end of the morning. It is possible that it may have something to do with its expectations of a return to like-for-like revenue growth and margin expansion in 2018.

Aveva Group AVV enjoyed strong trading for the year to the end of March. After revenue growth of 5.9% in the first half, .growth accelerated in the second half leading to a comfortable double digit rate for the year as a whole.

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PowerHouse Energy Group #PHE raises £900k gross in oversubscribed equity placing

PowerHouse Energy Group plc (AIM: PHE), the UK technology company pioneering hydrogen production from waste plastic and end-of-life tyres, announces the placing of New and Existing Ordinary Shares with private shareholders.

Details of the Placing

The Company has issued 180,000,000 New Ordinary Shares of 0.5p each at 0.5p per share in an over subscribed placing and direct subscription to raise gross proceeds for the Company of £900,000.00. The net proceeds will be utilised to support the commercial development of PowerHouse’s proprietary technology DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel.

All of the shares remaining in the control of PowerHouse as a result of the Convertible Note with Hillgrove Investments Pty Ltd have now been placed. The final 64,744,645 Ordinary Shares of 0.5p  remaining in relation to Hillgrove as announced on 31 January 2018  have been placed at 0.5p per share with private shareholders on behalf of Hillgrove which is now no longer a substantial shareholder in the Company. The Placings were carried out by the Company’s Broker, Turner Pope Investments TPI Limited, and Joint Placing Agent, Cornhill Capital.

Application is being made for the admission of 180,000,000 new Ordinary Shares, representing 11.7 per cent of the enlarged share issued shares in issue to trading on AIM and it is expected that this will occur on or around 25 April 2018. These shares will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.

Subsequent to the issue of the New Ordinary Shares, the Company will have 1,532,558,289 Ordinary Shares in issue and there are no shares in Treasury, therefore this figure may be used by Shareholders, from Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure and Transparency Rules.

Keith Allaun, CEO of PowerHouse, said: “We are delighted with the support from existing and new shareholders. The PowerHouse System continues to demonstrate that at commercial scale, our outstanding waste-to-hydrogen technology will be delivering distributed hydrogen in the most ecologically responsible, economically efficient, distributed manner, and position PowerHouse as a key hydrogen player. We intend to be one of the  lowest cost  providers of  hydrogen fuel in the world, whilst making a major contribution to reducing the plastic and rubber waste problem- and dramatically reducing air pollution.”

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

Enquiries:

PowerHouse Energy Group plc
Keith Allaun, Chief Executive Officer
Tel: +44 (0) 203 368 6399
WH Ireland Limited (Nominated Adviser)
James Joyce / Chris Viggor
Tel: +44 (0) 207 220 1666
Turner Pope Investments TPI Ltd (Broker)
James Pope / Andy Thacker
Tel: +44 (0) 203 621 4120
Gable Communications Limited
John Bick / Justine James
Tel: +44 (0) 20 7193 7463

About PowerHouse Energy

PowerHouse Energy has developed proprietary process technology called DMG® which takes plastic and rubber waste streams and converts them into cost efficient energy in the form of electricity and ultra clean hydrogen gas fuel for use in cars and commercial vehicles (FCEV: Fuel Cell Electric Vehicles) and other industrial uses. The PowerHouse technology is the world’s first proven hydrogen from waste (HfW) process.

The PowerHouse process converts 25 tonne of plastic or rubber waste into 1 tonne H2 per day and 28 MWh per day of electricity.

The PHE process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

PowerHouse is quoted on the London Stock Exchange’s AIM Market. The Company is incorporated in the United Kingdom.

For more information see www.powerhouseenergy.net

Ian Pollard – Countryside Properties #CSP – building cost inflation moderates in London

Countryside Properties plc CSP enjoyed robust trading during the firt half year to the 31st March., in addition  to which there was growth from acquisitions. Total pricate completions rose by 15% with the total average selling price falling by 11% to £392,000. Housebulding completions rose by 7% with the average selling price remaining flat. The company claims that private forward bookings were strong with a fall from £347m. to £327m. Current trading is described as robust and building cost inflation has moderated particularly in London and the south east.

Bunzl plc BNZL Since the 31st December revenue at constant exchange rates has risen by 14%, with underlying growth of 6% and an impact of 8% from acquisitions. Underlying growth is expected to return to more normal levels for the reminder of the year. In March two further acquisitions have been completed, one in the US which produced revenue of $50m in 2017 and the second in the Netherlands which produced 6m. Euro in 2017.

Mediclinic Intnl plc MDC Results for th year to the 31st Mach are expected to be marginally ahead of expectations following a significant second half improvement from the Middle East division, which is now entering an expansionary phase. This is expected to produce a srong increase in revenue and margins over time. In Southern Africa revenue growth of 5% is anticipated which is ahead of expectations.

Moneysupermarket.com Group MONY produced total revenue growth of 4% for the quarter to the end of March, in line with expectations and led by Home Services with a rise of 15%. The group anticipates meeting current market expectations for the full year.

AnimalCare Group plc ANCR Revenues to the 31st December will be slightly ahead of management expectations whilst sales growth during the current financial year is expected to be stronger, with underlying EBITDA, net earnings and earnings per share all expected to maintain at least double digit growth

Segro plc SGRO made a strong start to 2018 with a record level of new headline rent delivered for the quarter from the 1st January to the 17th April. Last year the first quarter figure was £16.3m.. This year the figure shot up to £27m.

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Buy Restaurant Group #RTN says Vectorvest. A clear investment case given the growth in earnings and free cash flow.

London based Restaurant Group (RTN.L) currently operates 498 restaurants and pub restaurants throughout the UK.  Its principal trading brands are Frankie & Benny’s, Chiquito, Coast to Coast and Brunning & Price.  It also operates a multi-brand Concessions business, which trades principally in UK airports.

Examine this trading opportunity and a host of other similar stocks. A single payment of £5.95 gives access to the VectorVest Risk Free 30-day trial. More here

On March 7th2018, RTN reported final results for the year ending December 31st2017.  The Company said that the cost reduction programme of £10m had delivered ahead of plan and was being reinvested into the leisure business. Total sales fell 1.8% on a 52 week comparable basis, and an exceptional pre-tax charge of £13.2m saw adjusted EBITDA fall to £95.1m (2016: £121.0m). However RTN saw continued strong free cash flow rise to £84.9m (2016: £78.9m), with net bank debt falling to £21.6m at year-end (2016: £28.3m). CEO Andy McCue said: “As expected, 2017 was a transitional year for the Group, with significant investments made in price and proposition within our Leisure business, which is driving improving volume momentum.  We start 2018 with a significantly more competitive offering in our Leisure business, a strengthened pipeline of growth opportunities in both our Pubs and Concessions businesses, and a leaner, faster and more focused organisation.”

The GRT (Earnings Growth Rate) is a key VectorVest metric that frequently flags up a change in fortunes, often before any official announcement from the company itself. The GRT for RTN moved into positive territory during January 2018, and has continued climbing higher all the way through to today’s GRT rating of 19%, which VectorVest considers to be very good. Although the RS (Relative Safety) metric only registers a fair rating of 0.97 (scale of 0.00 to 2.00), at 279p RTN trades well below the current VectorVest valuation of 342p per share.

The chart of RTN.L is shown above in my normal format. Earnings per share (EPS) has doubled over the past year and the share has moved from overvalued to undervalued in this period. Technically the share has broken out of a downsloping channel and also charted a double bottom on a much longer term view (not shown). The share is on a VectorVest buy signal.

Summary: A well-run restaurant business can be a real cash cow, and in the case of RTN the costs savings and operational streamlining from the management team during 2017 really do seem now to be delivering results. Although the fair RS rating tends to push RTN into the domain of the more adventurous investor, given the growth in the rate of earnings and free cash flow, VectorVest believes a clear investment case now exists for this London based group. Buy.

Dr David Paul

April 18th 2018

Readers can examine trading opportunities on RTN and a host of other similar stocks for a single payment of £5.95. This gives access to the VectorVest Risk Free 30-day trial, where members enjoy unlimited access to VectorVest UK & U.S., plus VectorVest University for on-demand strategies and training. Link here to view.

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European Financial Publishing Limited T/A VectorVest UK (VectorVest) is authorised and regulated by the Financial Conduct Authority under register number 543038. You should remember that the value of investments and the income derived therefrom may fall as well as rise and you may not get back the amount that you invest. Past performance is not a reliable guide to the future. This material is directed only at persons in the UK and is not an offer or invitation to buy or sell securities. If investors are in any doubt of the suitability of an investment given their individual circumstances, they are recommended to contact an investment manager or independent financial adviser who may be able to provide tailored advice. Opinions expressed whether in general or both on the performance of individual securities and in a wider economic context represent the views of VectorVest at the time of preparation. They are subject to change and should not be interpreted as investment advice. VectorVest and connected companies, clients, directors, employees and other associates, may have a position in any security, or related financial instrument, issued by a company or organisation mentioned on this site. European Financial Publishing Limited is a company incorporated in Scotland under Company Number SC357322 with its registered address at Exchange Tower, 19 Canning Street, Edinburgh EH3 8EH. Email: support@VectorVest.com

Brand CEO Alan Green talks Tertiary Minerals #TYM, Feedback #FDBK & Fedr8 on Vox Markets podcast

Brand CEO Alan Green discusses Tertiary Minerals #TYM, Feedback #FDBK & Fedr8’s Sentient Capital fundraising campaign with Justin Waite on the Vox Markets podcast. The interview starts at 17 minutes 25 seconds in.

Cadence Minerals #KDNC CEO Kiran Morzaria presents at Shares Investor Evening April 2018

Cadence Minerals #KDNC CEO Kiran Morzaria takes Shares Investor Evening delegates through the company strategy, key investments, why Electric Vehicles are a disruptive technology and how Cadence is ideally positioned to meet a forthcoming lithium supply shortfall. With over £20 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence Minerals #KDNC – Live Webinar; Wednesday 25 April

Cadence Minerals Plc (AIM: KDNC), the AIM quoted listed resources investment company, is pleased to announce the Company will be hosting a live webinar at 10.00am GMT on Wednesday 25 April 2018. The live webinar will be available on the following link:

http://webcasting.brrmedia.co.uk/broadcast/5acf1ed05a296618f1792506

Listeners are encouraged to submit questions prior to the call by emailing cadence@brrmedia.co.uk or by clicking on the question button at the foot of the webcasting.

– Ends –

For further information please contact

Cadence Minerals plc

+44 (0) 207 440 0647

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Square1 Consulting

+44 (0) 207 929 5599

David Bick

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale – upcoming supersized passenger vehicles, lorries and buses – require lithium and other technology minerals to power their cells. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. With over £20 million vested in key assets globally, Cadence is helping us reach tomorrow, today.

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

Ian Pollard – Is ABF-Primark losing its star quality rating?

Associated British Foods ABF Interim results for the 24 weeks to the 3rd March produced a rise of 1% in profit before tax and rises of 3% in the interim dividend and adjusted earnings per share.On a statutory basis, operating profit was down 3%. All of the groups businesses, with the exception of sugar, produced good sales and profit growth. Despite unseasonable weather Primark produced 4% profit growth which is mundane compared to previous years but its UK performance is described as being remarkable, with a strong increase in the total share of the clothing market.

JD Sports Fashion JD produced record results for the 53 weeks to the 3rd February with revenue rising by 33% and profit before tax by 24%. Basic earnings per share rose from 18.38p to 23.83p and the total dividend is increased from 1.55p per share to 1.63p.

APC Technology Group APC has quadrupled total profit for the six months to the 28th February with a rise from  £0.1m to  £0.4m., which also represents a doubling of the total profit for the full year to August 2017. Operating profit for the half year, before exceptionals rose by 45% and revenue was up by 14%. Profit before tax surged from  £42. to  £353m. and earnings per share tripled. The company says that these results have laid the foundation for the delivery of increasing profits and cash generation.

Christie Group plc CTG preliminary results for the year to the 31st December showed an encouraging rebound and the first half performance in 2018 indicates that it will be significantly ahead of last years. Revenue in 2017 rose by 11.1% and operating profit more than tripled from   £1.1m. before exceptionals to £3.8m., whilst earnings per share were up from 5.41p per share to 9.47p. Dividends for the full year are to be increased from 2.5p to 2.75 per share. The PBS division in particular showed a strong recovery with revenue up by 15.9% and operating profit tripling to  £5.3m.

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