In today’s briefing:
- JSR (4185) – Very Juicy Arb Return At Expected Timeline
- A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024
- Calumet Specialty Prods -Lp (CLMT) – Tuesday, Oct 24, 2023
- PetroTal Corp (AIM: PTAL): FY24 Production Expected to Grow by 20%.
- Rent.com.au Ltd – RentPay Payments Accelerating, $200m Milestone Passed
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JSR (4185) – Very Juicy Arb Return At Expected Timeline
- Five weeks ago, JIC announced a delay in the commencement of the Tender Offer to buy JSR Corp (4185 JP), originally scheduled to start by end-December 2023.
- In the announcement, they said they expected the deal to start by end-February. In the press conference afterwards, JIC CEO Yokoo said “no particular issues with the Chinese regulator.”
- He then added he expected the deal to be done by March-end. Language is vague. I expect that means to start by then, but even then, annualised is now 30%.
A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024
- In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024.
- The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.
- Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.
Calumet Specialty Prods -Lp (CLMT) – Tuesday, Oct 24, 2023
Key points (machine generated)
- Calumet is expected to experience positive catalysts in the next six months despite facing challenges such as its MLP structure, operational issues, and credibility concerns.
- The company has the potential to generate significant EBITDA numbers from its Specialty and MRL divisions, indicating strong growth prospects.
- The Performance Brands and legacy refinery businesses are also expected to contribute to EBITDA, assuming favorable market conditions.
This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.
PetroTal Corp (AIM: PTAL): FY24 Production Expected to Grow by 20%.
- The FY24 production guidance stands at 16.5-17.5 mbbl/d (we forecasted 18.6 mbbl/d assuming a moderate dry season) with US$135 mm capex (broadly in line with our expectations of US$130 mm).
- The FY24 production guidance assumes a dry season as severe as in 2023 with production of only 13 mbbl/d in 3Q24 and 17.5 mbbl/d in 4Q24.
- The Ecuador export route through the OCP will be operational in October (2 mbbl/d) while a new route via Yurimaguas to Bayovar (2 mbbl/d) could be operational in July.
Rent.com.au Ltd – RentPay Payments Accelerating, $200m Milestone Passed
- Rent.com.au Limited (ASX:RNT) is a purpose-led company seeking to empower home renters through its technology platform and a growing number of aligned transactional services.
- The company has provided a trading update noting that its RentPay rental payments platform had now processed $200m in payments since its relaunch.
- Achieving the $200m milestone comes just three months after passing the $150m mark, demonstrating a continued acceleration in the take-up of the platform.