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- Renergen up 88% in LNG production & PNP CEO steps down
Renergen up 88% in LNG production & PNP CEO steps down
Latest on Renergen, PnP, Calgro, Tesla & Your DEBT đź’°
Paul Roux
October 10, 2023
Hi there, 👋🏽
Come say Hi to us in Stellenbosch this week at Woordfees, more details are below. First, let’s start with the finances.
A Spotlight on the News
Renergen Limited
Environmental Authorization was received for the Virginia Phase 2 Gas Project.
LNG production +88% for the quarter.
Successful repair of the helium cold box
Share price -55% over the last year
Pick n Pay Stores Limited
Pieter Boone will step down as CEO effective immediately.
He will be replaced by Sean Summers who ran the Group as CEO and MD for 11 years.
Group H1 FY24 turnover grew by 5.4%.
Loss per share is expected to be between 79.31 cents and 98.18 cents.
Calgro M3 Holdings Limited
EPS is expected to grow by between 28.3% and 48.3%.
Share price +20% over the last month and +87% over the last 6 months.
Electric Vehicles deliveries Q3 2023.
Tesla +25% YoY.
Nio +43.8% YoY.
LI Auto +212.7% YoY.
XPeng +81% YoY.
Knowledge Nugget
Debt for Dummies
Debt is when an institution lends you money, with the expectation that you will pay it back later. But why would anyone want to lend you money?
One would think that borrowing money from the bank puts their money into your pocket, whilst in fact, the opposite is actually true: Borrowing money puts your money into their pocket. “Please explain, my Wingman”
Allow me to demonstrate:
Let’s take a standard vehicle loan of R100,000 at 15% interest over 6 years. After 6 years, the total amount that you paid = R142,740 (excluding maintenance and insurance), whilst the value of the car would likely have decreased to under R50,000 over the period. You pay >R142,740, you get
This is how they lure you in: “Have a dream, Mr. Roux”.
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