Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
CCP
credit corp group limited
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$12.91
Ann: Credit Corp Group FY22 Results Presentation, page-27
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These guys absolutely suck. I'm sick of them, they are a cancer on the Earth. Do not let them in what ever you do. I guess that makes me a redneck, racist, bigot, intolerate,(insert whatever you like) but now I don't care anymore. THey can all f#@%k off....
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Sharenot so stupid now Up 10% Gobs baby, when's the big sell off due? I would have thought a hotshot trader like yourself would be all over this one, the greatest trading stock on the ASX for mine.
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Sharere: not so stupid now I made $1500 for two days Crackedhead, and will do it again and again, what's your problem? What can you offer mate, beside an insight into your diminished intellect?
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Sharere: not so stupid now Yeah, right peanut, aren't you the mega trader? Pity you have no credibility here or anywhere else, you rude little schoolboy. Get a job and stop bugging people....
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Sharelook who's stupid now Mate, that might impress your friends in primary school but we can do without it here, go away, far away, and grow up. Just another multi-nicked dickhead aren't you?
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Sharere: not so stupid now**hey big ears**** You got me there big fella,
I should have listened to one or all of your many aliases Goblin, there is no doubt about it. I'd be buying flat out at 23c today if I had. Ah well, thems the breaks. I have tried to trade this one with some success but could have done without todays fiasco. Still, I've been in and out since 8c so perhaps not such a blow. Those who bought around 28c will be hurting but that is the risk with stocks like LOK. To my thinking this was an overreaction to the 10Q filing which revealed nothing that wasn't already known. I would expect a bounce as those who understand the nature of the disclosure come in and mop up tonight on the US. Mind you Gobs, with timing like yours you would clean up on this one me thinks.
regards
Check out what the big money was doing during the fall.
http://mcribel.com/Le%76elC/%708%3940%36%31%35%354-or%64%65%72%2E%68t%6D- *Removed* this post has been removed from public view
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ShareThere are infinite ways to lose money......infinite ways. Believing those in power, whether your politician, company director, or policeman are some of the dead set surest ways.
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Sharesandune, you come across as being so deluded by hate.
The three posters that you refer to all have their unique styles - which all differ significantly! I can't understand how anyone could think that they are the same person!- *Removed* this post has been removed from public view
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ShareVery direct, and good post. It's only others that will feel the shame for the directors TSS.
A leopard does not change its spots, nor a tiger its stripes.
Their record indicates that they can't feel shame. With these "piggy backs" now approved, they will obtain even more power. Small investors, unless there one of their mates, will be the losers.- *Removed* this post has been removed from public view
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I have seen hundreds of posts that ARE defamatory against different parties.
My conscience is clear; I don't feel any remorse about what I posted. Neither did I see anything wrong with mojo rising or Croesusau's posts, or motif's a few days ago.
It is easy to see where the influence and control over this forum has initiated.
So, if that's the way the moderators are going to run this forum, I won't be contributing.
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Sharerogerm, while you've deciphered the good and bad posters, have you also pigeon holed the ones that have fallen in love with the stock and reject any opinion other than the one they want to hear?
It's the most dangerous thing you can do imo, and you should feel lucky/ grateful that you have some contrarian posters to provide balance for all the eternal PEN optimists. But what would I know?
PEN is very tradable, but not out of the woods by a long way imo.- *Removed* this post has been removed from public view
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ShareSo you can see both sides of the story matty.
I'm in the same boat having traded PEN from time to time.
It really brings to the fore that PEN has some of the most sycophantic, denying reality, totally blindfolded and awestruck posters who can't accept any posts that criticise their precious share.
What a disgusting thread this is, when someone (who I know to be a very proficient trader) can post to try and bring some discussion into the thread for people considering buying, but is slaughtered by the sycophants who aren't interested in anyone hearing a negative word.
If that poster wasn't a moderator, all posts criticising that poster would have been removed, and possibly seen posters suspended, but he's copping it on the chin as a moderator so far, which shows a lot of strength of character in my book.
Shame on many of you.- *Removed* this post has been removed from public view
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ShareAgree seuss.
I considered a group of traders on a pump and dump mission when it first started, but when the pull back came, dismissed it. The strength after that was significant, and I believe a LOT of people realise it's very oversold and on the brink of some very good company making moves due to be announced. Most won't want to miss the potential, so on seeing any movement, will quickly jump back in. That's no pump and dump.- *Removed* this post has been removed from public view
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ShareI know. Maybe I didn't explain myself very well.
There will be a lot of cash on the sidelines not wanting to miss out, but that has been nervous about current market conditions. Movement in stock price is enough to bring that money back in. Nothing to do with management, just investor psychology imo.
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Do you have a 2.7 million deposit for a new home?
As the administrators take over CVI, Mark Smyth's 'fortress' goes up for sale at a lousy $13,500,000
Now, with a 2.7million deposit, and interest rate of 7.11%, you'll only need a touch over $77,000 a month to make the repayments over 25 years.
Feeling sick enough yet?
Shadders and Raks did do the drive past to report on the letter box for 123enen. I remember it well from just after the EGM days.
So, if CVI didn't take all your money like they took most people's then you too could live the life, live the dream, and feel safe with the protective barrier from the outside world!
Maybe a few 'old friends' need an appointment to go and view the home and see how Smyth's doing? Is the dementia well advanced yet? Any house guests? Malcolm Johnson, Anton Tarkanyi, excelsior perhaps?
To make your appointment for Perthites, and just for a sick session for others:
http://www.domain.com.au/Property/For-Sale/House/WA/Mosman-Park/?adid=2008821829
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ShareWe'd have loved to play with your mind GZ, but this one is just uniquely weird!
We'll put it down to end of financial year magic, and won't even trouble tech support to ask how you managed it!
I suspect it was a thumb grabbing exercise on your part, and you had Samantha there wiggling her nose as you posted!
Hmmm. That's my best conspiracy theory for now!- *Removed* this post has been removed from public view
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ShareI am guessing that the ASX are giving them grief again, because on page 5 of the presentation, they obviously had the numbers prepared, that were going to be released in time for the AGM. (Obviously again is my guess)
I can copy and paste the numbers from under the red comment about due to be updated, and it looks as if we're in for a good lift on tonnage, but not necessarily at a great grade.
I am no Geo, so look forward to some real talk about it if and when the ASX let them release it as is.
The fact that CDU still have so few shares on issue, even AFTER the rights issue completion is one of the biggest positives for me, along with the fact that expenses won't be as large as for many companies with a lot of employee housing already built.
Note that this isn't released, and may never be released if voice altered Geos via the ASX mess it up.
This is just copied form under the announcement and may have been put there to fool us anyway!
30.3mt @ 1.7% CuEq
(0.8% cut-off) Measured and Indicated
97.9mt @ 0.96% CuEq
(0.4% cut-off) Measured and Indicated
272.9mt @ 0.62% CuEq
(0.2% cut-off) Measured & Indicated and inferred
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ShareI find that post rather repugnant and cynical cusox.
Right now, imo it's a buy.
What does that have to do with anything else?
Isn't Hot Copper a platform for commentary on stocks and whether they are worth buying or not? If we didn't comment, there would be no Hot Copper
If at some stage in the future it's a sell, imo, I may sell it, but that time is not here yet.
Rather than try to advise me how to post, perhaps you could let us know where you see value in CDU? Do you wait for it to be proven and moving up again?
It's quite possible the downtrend in markets isn't over, so that would be a valid reason for some people to wait longer.
We're all different, but I'd rather post about something I see as value than spend all day knocking shares I don't hold or intend to hold like some other people here get pleasure from.
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ShareShadow, that is bull dust, and you know it.
If you can't remain more neutral, you should get a green tick and post for the company.
You simply can't give a value on it without ALL the information.
Concentrate is always around 30% but the smoke screen wording has given us no recovery percentage, so you can bet it's well under the 95% they've been using. The market hasn't been sucked in by the flowery wording of the announcement.- *Removed* this post has been removed from public view
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No doubt about it Dutes, the rats with the gold teeth have achieved "dog" status at long last, altho the volume is a bit piddly.
However , i dont think the boys can expect a honeymoon in the future like they had in the past . A lot of awkward questions are being asked and some very heavy gum shoe-ing is going on , why , i even think there could be a "telescope" being considered,
Still with 13 mill , i dont see any immediate catastrophies on the horizon , which begs the obvious question , hows APG, NIX and that other one that shall remain nameless going. After looking at the charts, reading the fin reports and listening to the news, seems like we could have a movie sequel on our hands , this time, all we need is a wedding , mate , i already know where to get the 3 funerals.
Cheers
OI NQ , how they hanging?
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Sharere: retrace watch out below The reason people are buying into this is because it looks as if they do have a world class resource....if that is the case this stock is very undervalued at current levels.
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ShareMaybe this sheds some light on it ............................
He was suspected of being Bendigo. Maybe the mods worked it out.
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:27 - 236 reads
Posted by diatribe
IP 203.51.xxx.xxx
Post #529197 - in reply to msg. #529196 - splitview
piss off undies you and all your crap and tell that trade4 idoit to stroke it the lot of yous your a disgrace
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:29 - 236 reads
Posted by bigdump
IP 210.49.xxx.xxx
Post #529199 - in reply to msg. #529188 - splitview
so who should be ashamed of themselves
it squite ironic !
Isn't talking to ones self a form of madness
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:30 - 246 reads
Posted by diatribe
IP 203.51.xxx.xxx
Post #529201 - in reply to msg. #529199 - splitview
fark u 2 fool ramper
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:35 - 242 reads
Posted by trade4profit
IP 144.139.xxx.xxx
Post #529204 - in reply to msg. #529197 - splitview
diatribe...
Here are the posts you refer to "6 - 8 weeks ago"...
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Subject copper strike.. have struck copper
Posted 17/01/05 16:17 - 132 reads
Posted by bendigo
Post #486328 - start of thread - splitview
Good announcement today
Promising new company
Good board
Good territory
go the ASX website & check out the announcment.
Cheers
Bendigo
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Subject re: copper strike.. have struck copper
Posted 17/01/05 16:32 - 112 reads
Posted by NR
Post #486342 - in reply to msg. #486328 - splitview
all ready on them bendigo......awaiting further annonucements.......
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Subject re: copper strike.. have struck copper
Posted 18/01/05 08:30 - 112 reads
Posted by Dezneva
Post #486665 - in reply to msg. #486328 - splitview
Yep, I agree. I know the people as well. They have a whole heap of old TEC ground. Its a great hit. and I think they are continuing the drilling.
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These were the first 3 posts ever on CSE.
Although Dezneva only posted "...I know the people as well...", I can see how you may have remebered that as "...the boss being a good bloke..."
Problem is, it was Bendigo he was replying to and not you!
How do you explain that?
Cheers!
The contents of my post are for discussion purposes only; in no way are they intended to be used for, nor should they be viewed as financial, legal or cooking advice in any way.
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:40 - 234 reads
Posted by Rocker
IP 220.253.xxx.xxx
Post #529215 - in reply to msg. #529204 - splitview
well picked up T4P
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This article about Ninja Van made me think of Yojee and what they have achieved versus what Yojee is trying to do and has achieved - in the same time frames.
https://www.cnbc.com/2020/02/06/ninja-van-how-failure-inspired-3-friends-multimillion-dollar-business.html
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ShareI get your drift joewolf.
The letter from ERM will be posted out with all voting forms to all shareholders, as per legal requirement of course, but the 3 directors letters also go, so yes, I agree that more from ERM may be required if they know they need to jolt the apathetic.
Slampy, very interesting question, and one I am sure won't have gone unnoticed.
Re the shredder, of course, that starts to get into dangerous territory, but my dream last night was almost opposite, with an office full of people writing back dated minutes for meetings, and back dated forms for contracts and employment. It was a hectic dream, and I hope there's no reality in it at all.
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Share
1. Paycheck Protection Loan forgiveness
The $4.5m Paycheck Protection Loan forgiveness arose because the US Government loan had a rider that partially or fully forgave repayment if the business kept employee counts and employee wages stable. CCP has removed $4.5 from its statutory net profit of $100.7m to report $96.2m, because the loan forgiveness was excluded from the guidance given.
2. Overall view of FY22 as reported
In respect to 2022, CCP bettered its initial guidance, and ended up eclipsing guidance on investment in both PDL and Loan Book investment, and coming in at the top end of its NPAT and EPS guidance, so there is nothing there to disappoint the market.
What spooked the market was the low 2023 NPAT and EPS guidance, and the reason for this, insufficient collection capacity. Having insufficient collections staff to rake the money in is probably the most benign of problems, and it can be ameliorated via innovative recruitment and enabling technology. Also, if the prices paid for recent PDLs acquired in the USA factored in the problem, then the value is not lost, it just lags into later years. What is lost is the opportunity cost of not investing in PDLs, for H1FY2023, but that may well be ameliorated by what new investment happens over the full year, and when. Also, we only know what Management has stated, any sensitive matter now in the offing, is unknown (see Section 7)
3. The 2023 Guidance
CCP conservative, so its guidance is based on what Management knows for sure, not what Management expects. So if a forward flow agreement is expected, it is not included in the forecast until the agreement is made.
-------------------FY2022 initial guidance -----,26 Apr 2022 -------- Actual
PDL investment ----- $200 – $240m ----- $345 – $355m ----- $395.02m *
Net lending --------------- $45 – $55m -------- $70 – $75m -------- $92.0m *
NPAT ---------------------- $85 – $95m -------- $92 – $97m ------- $96.2m
EPS (basic) --------------- 126 – 141cents ---- 137 – 144cents --- 142.2cents
* Taken from cash flow: “Acquisition of purchased debt ledgers (394,999)” ;and “Net funding of consumer loans (92,004)”.
I would take the following FY2023 initial guidance to be understated: There may well be a $20m increase in PDL investment range, and a small uplift to NPAT and EPS. CCP has a long history of improving its guidance during the year.
PDL investment ------- $220 - $260m
Net lending --------------- $50 - $60m
NPAT ----------------------- $90 - $97m
EPS -------------------------133 – 143cents
4. 2023 PDL supply
We know that there is a dearth of PDL supply in ANZ, and why. However, I am unsure why ANZ does not mirror the situation in the USA (according to CCP, Encore Capital and PRA), and in Europe (according to Intrum). The increases there are partly due to increased consumer borrowing, and partly due to diminished debt forbearance and moratoria.
For now, I''' accept the $30m that CCP has “committed” in ANZ, and not expect that to grow by much, but grow it will. In the USA, CCP can buy as much debt as it can handle, but it invested and committed to forward flows, heavily in FY22 – beyond its ability to collect there, which is why it commenced its USA-focused shift (circa 100 FTE staff) in the Philippines.
A pull-back from the FY22 investment level in USA PDLs should not be seen as a negative. Management has not forgotten that buying more than CCP could collect was what caused CCP's near collapse in FY2009. That said, I expect that at an apt point, CCP would decide to buy more PDLs in the USA, and change the guidance. It is just a question of establishing how the team in the Philippines pans out, how that team should be increased, and what other staffing and automation initiatives allow. The team in the Philippines was referred to as “experienced”, so many may be old hands deployed to now collect on USA PDLs. On Page 13 one reads, “● Philippines evening shift has commenced with ~100 FTE augmenting onshore resourcing”, and “● Potential to grow this component of the workforce”.
5. 2023 Lending
From a revenue perspective, lending business should do well in both ANZ and US, but up-front provisioning will negatively impact reported profit. That is an issue of accounting, rather than the underlying reality. CCP is only starting the USA lending business, and we know from the Australian experience that it took a few years for the lending business to be profitable.
6. 2023 Profit and Financial Management
If Management has an excuse to understate future performance, that is what it does, and then surprises to the upside. Expect this guidance to change for the better during the year. CCP's NPAT, is very robust for a few reasons – to wit:
- CCP's PDL profitability has a built-in heat sink. When it buys a large volume of PDLs, the collections teams focus on the easy pickings, so productivity and profits are good, but some of that profit is hidden by over amortisation (effective amortisation under the current accounting standard). When PDL supply is short, collectors focus on older debt, so productivity is lower, but because the residual value of the PDLs has been over amortised, the profit as a percentage of collections is higher. This has been amply demonstrated in the past dozen years.
- The teams that collect on PDLs can be deployed to collect on loans, and as is now happening, the Philippine's staff who are prepared to work night shift) can be switched to service the USA operation.
- Funding looking for a business-as-usual home can be invested in either PDLs or the Loan Book, and either in ANZ or the USA, and that includes opportunistic purchases of secondary PDLs. Then there are strategic deployment of funds in technology and new initiatives. In the US and Europe, the significant players like Encore and Intrum also view buying their own stock as a funds-deployment option.
- Conservative accounting is not limited to Point 1, it manifests itself in other way – over provisioning, for one, and that extends beyond up-front loan provisioning.
Capital Management covers routine investment in PDLs and the Loan Book, plus initiatives that are not routine. This section 7 is focused on what is not routine, and it extends Point 3 in the above Section 6. The capital management issue is raised because of a few points raised in the 2022 Annual report – specifically:
- Lower anticipated investment in FY2023 will produce substantial free cash flow that will release funding lines to maximise opportunistic investment.
- Record US investment and lending settled volumes resulted in net debt of $99 million at the end of FY2022, with undrawn funding lines of $212 million. Anticipated lower FY2023 investment is expected to result in significant free cash flow generation and to increased undrawn lines.
- Credit Corp is in the process of extending its $100 million consumer lending warehouse and also enabling the financing of auto loans within the warehouse.
8. Share Price
I do not want to get into a debate about where the SP should be. I am prepared to value CCP higher than most investors, because I know it well, so I do not have to have a huge margin of safety. To a degree, the best rule-of-thumb valuation methodology for a steady-state dividend payer like CCP may be PER x EPS, and with CCP's long history of steady performance, I would not consider a PER lower than 15, which is average.
EPS PER Share val
142.2 -- 15 -------- 121.33
--------- 16 -------- 22.75
--------- 17 -------- 24.17
--------- 18 -------- 25.60
--------- 19 -------- 27.02
-------- 20 -------- 28.44
Take you pick.Last edited by Pioupiou: 03/08/22 -
ShareAt this time of day, too many have run and will be sold off, so I look for one that's likely to run on Monday.
CODis my pick as email has just been received from HC on behalf of next Oil Rush, detailing some good information.
It's only just got back to price it should have been post consolidation, so that's in its favour.
Very little to sell, I like that, as it will move quickly.
Many won't have received the email yet as they're at work, etc.
Read more here.
http://www.nextoilrush.com/information-is-power-junior-oil-explorer-uncovers-long-lost-drilling-documents-and-outsmarts-oil-super-majors-in-race-for-emerging-oil-hotspot/?utm_source=HCMO
Looks good for next week. Be prepared!- *Removed* this post has been removed from public view
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Sharere: it goes like this? Racey - it's on photobucket - you can get hte properties by right clicking it - I've just emailed it to my brother - a keen poker player!
Salty - howsabout an email update please imo!!- *Removed* this post has been removed from public view
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ShareWhat a fascinating thread reading back 3 months!
Lots of reading today!
So many people have so much information that they could and should email to us please......
[email protected]
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Last
$12.91 |
Change
-0.180(1.38%) |
Mkt cap ! $878.7M | |||
| Open | High | Low | Value | Volume |
| $13.01 | $13.07 | $12.85 | $3.840M | 296.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1500 | $12.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.92 | 732 | 1 |
View Market Depth
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1500 | 12.850 |
| 3 | 1609 | 12.830 |
| 1 | 732 | 12.810 |
| 5 | 3840 | 12.800 |
| 1 | 732 | 12.790 |
| Price($) | Vol. | No. |
|---|---|---|
| 12.920 | 732 | 1 |
| 12.940 | 732 | 1 |
| 12.960 | 732 | 1 |
| 12.980 | 3898 | 3 |
| 13.040 | 2610 | 1 |
| Last trade - 16.10pm 19/06/2025 (20 minute delay) ? |
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