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APF Anglo Pacific Group Plc

157.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Anglo Pacific Group Plc LSE:APF London Ordinary Share GB0006449366 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 157.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
157.60 158.60
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 157.00 GBX

Anglo Pacific (APF) Latest News

Anglo Pacific News

Date Time Source Headline
07/9/202312:51RNSNONEcora Resources PLC Live Investor Presentation

Anglo Pacific (APF) Discussions and Chat

Anglo Pacific Forums and Chat

Date Time Title Posts
07/10/202214:08Anglo Pacific - Coal and a lot more besides.12,279
16/3/202220:24Anglo Pacific - Royalties for a Green Future24
26/1/202211:44Bought More-
24/1/202214:48Coal Prices-
22/1/202219:06Amapa Iron Ore Royalty-

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Anglo Pacific (APF) Most Recent Trades

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Anglo Pacific (APF) Top Chat Posts

Top Posts
Posted at 25/8/2022 07:56 by cocopah
#LLB Glass half empty or pragmatist? There is no doubt that these are great results (which we already knew about) and I do like that the board are very open, decisive and transparent about future short-term income, company objectives, their rationale for the dividend policy etc … but it doesn’t mean that I have blind faith in all decisions. Remember when £2.00 share price dominated our discussions and before that a 9p dividend … all seems a way off now as does some of the ludicrous broker notes on share price targets. So now I see this trading slightly down in the range in the next few months with a solid but not spectacular dividend. No immediate catalyst to add for capital growth or income (the rationale behind investing) in the next 18 months atm IMHO. I do intend to hold though for the reasons you and the Deacon say.
Posted at 07/7/2022 09:12 by cocopah
#LLB Apologies for my tenses in my post (no doubting what you are saying this year) but I am looking forwards from year-end when we will be cash positive. Of course by then there may be some announcement about future deals. In the meantime I guess we’ll just have to suck it up over the share price but as we go in to 2023 surely something needs to happen to drive the share price. I see cobalt is down another $5000 per ton today … and any downward pressure on the coal price next year would hurt even more. I guess what I’m trying to say is that I am struggling to find reasons to see how the £2, £2.40 and £3 valuations will happen … indeed we may be lucky to stay at the current share price. In its self that wouldn’t necessarily be a bad thing because the dividend for the current share price is acceptable but I was hoping for more (in terms of the share price) from the company.🤷205;♂️
Posted at 28/6/2022 09:57 by troc1958
I like the "Latin Mines" guy's approach to Royalty valuation. Doesn't get over complicated. Err's on the conservative. He values Anglo at $596m sum of the parts, equivalent to a 179p share price vs current MCap of $505m at 152p. Agree that some of his valuations are a bit hit and miss particularly Piaui at $10m which seems very low. A lot obviously is dependent on future expected prices of coal and metals and possibly why Anglo price is at a substantial discount to his "conservative" valuation. However given the Queensland coal royalty benefit and potential future Piaui purchase I believe that the downside risk of this company is limited and a lot of negative global economic news is already reflected in the price. I always fear "hidden" skeletons manifesting themselves and knocking the share price. I can't see Anglo having any which have not already been included in the valuation (e.g. Dugbe unlikely to come into production and thus at moment hardly valued at all - 3% of Anglo value). Just my thoughts, but Anglo is one of my bigger holdings.Troc
Posted at 20/6/2022 17:24 by cocopah
#jonrxx99 I wish I’d had the common sense to get out c£1.70 and be in the position you are in now. The writing was on the wall when they decided to reduce the dividend. I think you’re right that somewhere between where we are now and £1.30 would be a very good entry point. To be fair at the current share price the dividend is attractive. Looking ahead to next year, income is likely to be less so unless there is news of further investments I would imagine the share price will stay around where it is for a while. That’s not to be disparaging about the performance or return, for long-term holders it’s decent, however it isn’t the growth I was expecting in the share price which will probably take a few years with the change in strategy.🤷‍♂️👍🏻😎
Posted at 08/6/2022 21:40 by cocopah
#The Deacon … the one thing I did get clarity on is that when MBL was pressed about the dividend he was keen to point out what was being paid (7p) and how that compared favourably to other royalty companies.

In other words I took a loud and clear message that the dividend will stay where it is. The market will also take that as red. so the only thing that will shift the share price upwards from now on is more acquisitions … and if income drops in the meantime the share price will do so too (obvs that won’t happen this year but who knows after that).

I don’t like trading much and was hoping a progressive dividend would allow me to hold APF tong-term benefitting from a gradual rise in the share price as new acquisitions were added. I’ll need to keep a keen eye on the income next year!
Posted at 05/5/2022 13:56 by cocopah
I, like some on here, whilst not new to investing in APF, am not long-in-the-tooth either. At the price I bought-in my return at 7p is over 5% and whilst of course I could realise the gain and invest at a higher level somewhere else I would also then run the risk of capital erosion in doing so. For that reason I’m quite happy to continue holding with the capital cushion very much in my favour. However I will not be considering purchasing more shares at the current yield and doubt that newbies will be attracted on the same basis. I see the share price stabilising for now, rather than running over £2.00 however I am sure the announcement of more deals might change this dynamic. I’m not sure what being debt-free will mean for the share price if no more deals are announced and the dividend policy stays the same … there’s no catalyst for change. That’s not to say that I don’t agree with the debt being reduced, it is a prudent no-brainer.
Posted at 05/5/2022 11:37 by the deacon
Having now caught up with the most recent presentation it's clear to me that MBL has committed to growing APF into the go-to diversified /battery metals royalty Co, and this growth will come partly at the expense of a bumper dividend. We've talked about it here before (and Marc said the same thing in the presentation) but APF pay the highest yield of any mining royalty company. Indeed it's more than 2x it's second placed peer, and this is the benchmark he's using for APF. The cash 'saved' from paying a smaller dividend (though still substantial relatively speaking) rather than 5%+ will end up funding further deals that are critical to growing Anglo Pacific. It isn't going to be small deals that result in APF becoming a multi billion dollar diversified version of Franco Nevada. The path to scale requires APF to get involved in big deals like Voiseys Bay. Of course, opportunities to play the long game on quality assets like Piaui are very much worth pursuing, but it's quite clear to me that with Kestrel dropping to 50% or so in 23/24/25 before it drifts away, MBL wants significant assets that are generating cash right now - and they cost a lot more. My takeaway was that APF will no longer be (certainly not for the foreseeable future anyway) that income focused stock that punters have got used to. MLB has set his sights on something a lot bigger, and if he gets it right then APF will be many multiples of where we sit today. Having been invested in many US/Canadian royalty companies, and having witnessed the stellar growth that's achievable I'm personally very supportive of that strategy. However I do appreciate that we all have different outlooks and reasons for investing, and understand this shift in strategy /focus doesn't suit all.
Posted at 03/5/2022 22:07 by cocopah
#illiswilgig thank you for your fulsome feedback, much appreciated and I agree with your thoughts. Personally I can’t see what will drive the share price much above £2 without (either) more income streams and/or a progressive dividend. As an existing holder I’m happy to sit on my hands for the current divi but wouldn’t invest more … kind of makes my point about why I don’t see the share price going much higher (for now).

Investors have equal to better dividend options elsewhere and future share price growth is likely to be constrained partially by the dividend policy, and, (looking forward to next year’s income) contribution, which is likely to be more in line with normal revenues. I think the market has already factored-in the debt reduction to zero and is eyeing the reducing contribution from Kestrel and the compensating growth of VB income, whilst awaiting the 2024 influx from Brazilian nickel.

Forgetting wider market moves I think that the share price drift to £1.75 which with a 7p dividend equates to a 4% yield is probably par for the course. We will see but I don’t think anything else will move the needle further.

I couldn't and still can't see the rationale for not paying the year-end divi bump ... dividend cover is over 4 times and it wouldn't have derailed the debt reduction or made a material difference to the ability to pay for any new deals. On the other hand it would have supported/driven the share price and rewarded shareholders.
Posted at 20/4/2022 17:53 by laurence llewelyn binliner
#Cocopops, trying to get entry timing right and second guess the share price trajectory is what it is all about, supported by historic moves and evidence behind those moves, current pricing should be just the start if we look at the past..

2019 was a big year for us, with GBP59M/USD76M income and the mid year share price around 200 pence, eqv earnings adjusted for todays enlarged share capital would be USD91M..

Now consider we are just about to report USD c50M for Q1 stand alone and have the potential to hit somewhere close to USD200M for FY2022 IF prices remain elevated..

If the EPS is double, the PE halves, so a fairer share price target would be nearer 400 pence..?, debt will be gone in Q3/Q4 and the EV will re rate accordingly..

Like many holders I very much look forward to the Q1 update 27.04.2022, the resulting broker notes, share price move and finding out just how much of the potential gets realised and priced in between now, the Q2 update and H1 financials..

Kestrel income will taper off maybe 50% in 2023 but it is not a cliff edge, if met coal prices hold up Kestrel can pay for the top tier royalty at Piaui so there is still plenty to come IMO.. :o)
Posted at 09/4/2022 06:52 by cocopah
#LLB The problem with not paying a 9p/10p dividend is that the value doesn’t get locked-in just because there are more retained earnings. A weaker income year in (say) 2023 or 2024 (before the development assets kick in) will result in a lower share price anyway. I’d rather have the jam now and I think there’s more than enough income to support that and the reduction of the debt to zero. It is also highly unlikely that there will be any good deals out there (and investments in a poor deal would hurt the share price anyway). I am hoping for a significant increase in the share price this year and then look to trade it over the next two years as I believe the share price will dip before resuming growth again after (say) 2024. Initially I wanted to hold long-term for the dividend but when/if the share price hits £2.20+ the dividend will be on its way below 3% (which in turn will limit the growth of the share price). I still think it’s a big mistake.🤷205;♂️
Anglo Pacific share price data is direct from the London Stock Exchange

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