Signs of a stabilization of the troubled asset sector may emerge in China: more government reports are expected to be finalized throughout June and major developers are expected to submit lists covering a large number of projects that can also reach the government through local governments.
But let’s not tell Hong Kong investors where shares of China Vanke — the continent’s largest developer still in status — sent to a record low on Tuesday of HK$4. 72 (about 93 cents), a drop of just about 13%.
This has caused Vanke’s stock to fall more than 30% year-to-date.
The drop came after the company last week released its results for 2023, which were not good, with a 50% drop in profit (before items), but announced to the market that it planned to cut 100 billion yuan (about $14 billion). ). over the next two years to try to increase our cash flow.
Vanke’s crisis also came after rival (but even more financially endangered) private developer Country Garden suspended its shares in Hong Kong after failing to record its 2023 results.
Country Garden defaulted on its debts (as did some smaller developers), as well as former giant Evergrande, which is now in liquidation after a Hong Kong court issued a liquidation order last January. Country Garden is facing a claim from a foreign creditor in a Hong Kong court on May 17.
Country Garden said that “due to continued volatility in the sector, the operating environment facing the Group is becoming complex” when it revealed last week that its effects would be delayed.
In October, the company said declining sales had prevented it from paying HK$470 million ($60 million) in interest and warned that “adverse market conditions” could prevent it from repaying its external debts in the future.
Country Garden was $192 billion in debt at the end of June 2023, making it one of the most indebted real estate companies in China, a far cry behind Evergrande, which had debts of more than $320 billion at the time of its liquidation.
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Overall Increases for Deep Leads Resources: Quality, Tonnage and Target Area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.