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Clemens Scholl

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  • Orascom: Separation Of Fertilizer And Construction Business Presents A Spin-off Opportunity [View article]
    nearly 3 years later, the demerger is once again on the agenda:
    (this time through an IPO in Egypt...)
    Sep 1 01:58 AM | Likes Like |Link to Comment
  • Geothermal Power Producers - Lowest Levelized Cost, Base Load Compatible And A 100-Year History [View article]
    interesting that the radioactivity issue isn't mentioned. It is conveniently ignored in most publications or conferences dealing with geothermal. Probably many people in the industry are not even aware of the issue, which makes it quite dangerous for the workers.
    Aug 28 01:11 AM | Likes Like |Link to Comment
  • Geothermal Power Producers - Lowest Levelized Cost, Base Load Compatible And A 100-Year History [View article]
    Geothermal energy produces a substantial amount of radioactive waste. (see e.g. If generation is strongly expanded, I expect this will cause a significant radiation protection problem - not necessarily for the workers at the plant (although individual exposures can be quite high if not handled correctly, the dose rates can reach >10µSv/h close to the heat exchangers and internal exposure can be a problem if the workers have no protective gear when cleaning the pipes from scales) then for the disposal of that waste. The scales have high concentration in Radium (Ra-226+,228+), Thorium (Th-228+) and Pb-210++, you can't pile this up indefinitely, and Radon emissions will also be a problem (Nr. 2 cause of lung cancer, after smoking).
    You can avoid the problem by having closed water circuits, but this significantly reduces the efficiency of these plants and is only suitable for smaller operations (e.g. heating for individual houses).
    Aug 27 08:59 AM | 1 Like Like |Link to Comment
  • MFC Industrial's (MIL) CEO Michael Smith on Q1 2014 Results - Earnings Call Transcript [View article]
    "...from time-to-time maybe giving banks some money"

    It's supposed to be written as "from time to time maybe giving BACK some money". It was badly transcribed.
    Aug 16 10:15 AM | 1 Like Like |Link to Comment
  • Chaoda Modern Agriculture: A Green Giant for the Price of a Dwarf? [View article]
    The "results" they show in their release are disastrous and clearly show that there must have been some 'creative accounting' over the years. Blaming the issues around the trading suspension for the bad results is the silliest excuse ever.
    With the next auditor resigning, I have little hope that there is any profitable business left. Maybe they can come clean and turn it around, but it's a long shot.
    Aug 6 02:00 AM | 1 Like Like |Link to Comment
  • CLP Holdings: 4.1% Yield Limits Potential Downside [View article]
    I highly recommend the "managing asia" episode with Andrew Brandler (CEO of CLP) on CNBC.
    Jul 7 02:14 PM | Likes Like |Link to Comment
  • A Special Situation Investment: Orascom Construction Industries [View article]
    you're probably looking at the wrong website: is the right one.
    Jun 3 06:12 AM | Likes Like |Link to Comment
  • GrainCorp Not Strikingly Cheap Amidst Multiple Challenges [View article]
    a good overview of the situation, thank you.
    Jun 3 12:52 AM | Likes Like |Link to Comment
  • A Special Situation Investment: Orascom Construction Industries [View article]
    It seems the separation of fertilizer and construction segments is no longer on the table, for now.
    The 2013 annual report doesn't mention it in their strategy.
    They listed a LP interest in OCI Beaumont (OCIP) in the US, did an equity raise and even (it seems) got back their billion-dollar tax extortion from the muslim brotherhood.
    I got back in at 28 EUR on Friday. The share price is not consistent at all with fundamentals, and the relative performance with peers in the construction and fertilizer industries.
    Jun 3 12:49 AM | Likes Like |Link to Comment
  • Mongolia Growth Group - All Structures In Place For A Good Run [View article]
    no mention of their abandoned insurance business model?
    Previously, that was the "huge next big thing" in Mongolia. Now it's real estate?
    May 17 05:38 AM | Likes Like |Link to Comment
  • Tesco's Price Drop Offers Excellent Value [View article]
    yep. reduced by 30%.
    May 2 08:22 AM | 1 Like Like |Link to Comment
  • Bunge in process of selling Brazil sugar business [View news story]
    just days ago, Südzucker said ist was interested in making a South American acquisition in the order of 1bn EUR. Looks like this is the one they are looking at.
    Apr 28 01:22 AM | Likes Like |Link to Comment
  • Can Coca-Cola Amatil Bring Back The Fizz? [View article]
    back in 2008, Kirin was in advanced discussions to buy Amatil for 8 billion AUD.
    The deal did not go through at the time (Amatil's new CEO, former Graincorp, has experience with those bid 'failures' in Australia, when the bidder is a foreign company), but maybe there is now renewed interested among the japanese drink industry trifecta (Suntory, Asahi, Kirin).
    Apr 22 04:49 PM | 1 Like Like |Link to Comment
  • Sandstorm Gold Announces Plan of Arrangement to Acquire Sandstorm Metals & Energy [View article]
    " I thought this was a dead investment... "

    now it is.

    A permanent loss for SND shareholders, and SSL gets the upside potential for free and has virtually no downside (as there was nearly none left after the epic value destruction engineered by the management). Instead of being fired for their horrible performance, I bet they'll soon be celebrated for the "value creation" at Sandstorm Gold. They killed the SND investor, buried the corpse, and soon will dig it up again and rejoice that they found a golden tooth in its skull.
    Apr 22 04:28 PM | 1 Like Like |Link to Comment
  • MFC Industrial's CEO Discusses Q4 2013 Results - Earnings Call Transcript [View article]
    I couldn't help but laugh out loud when I heard Mr Smith musing about the corporate governance improvements and how he believes reversing the shareholder-unfriendly measures he himself just put in place a few months earlier is a great thing. Peter Kellogg, who just a few weeks ago was a "serial violator of securities laws" and "improperly and unlawfully trying to take control" is now "a very good sign" and " his people have helped us in many ways and we respect that and look forward to working with him in the future".
    Judging from the length of the call and the benign questions most people seem to have lost interest in this opaque outfit.
    Apr 1 01:35 AM | 3 Likes Like |Link to Comment