drbubb

May 4, 2023

I found this LIST to be Impressive, so I thought I should POST it here...

Some of the documentaries I've narrated

I am a moderately successful voiceover artist

Dominic Frisby

May 4

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Many thanks to those who made it to Crazy Coqs last night. What an evening.

Today’s post is part grift (need more work), part brag (look at what I’ve done) and part archive.

I am, as you will probably know, a moderately successful voiceover artist.

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I’m sometimes asked, and I’ve often wondered, how many documentaries I’ve actually narrated. So (part grift, part brag, part archive) I thought I would compile a record. The list is below. (There is also this spreadsheet, which I will try to keep updated).

I make is 581 in total (if one series of six episodes counts as 6 docs). It should easily rise to 750 if you factor in all the stuff from 1994-2007, which was a prolific period, but for which I have no record except in my unreliable head. (This included a spate of stuff done in a weird northern accent - the market wanted northern accents). There is also a ton of sports stuff I did for Eurosport and IMG/TWI in the 1990s, if that counts. Again no record.

Anyway here, in reverse order, is the list. There are bound to be a few omissions, double entries and other errors, but it is as good as I can do. (And I don’t expect anyone in the right mind to read through it all). Some of them have got amazing titles: Fireball of Christ, Martian Robots, the Next Megaquake.

You’ll notice that in the last 3 years the work has tailed off a bit - wrong age, wrong sex, wrong colour (!)

Pledge your support

2023 True Caribbean Pirates. (History Channel).
2022 Lost Liners - (6 eps. Sky History). [IMDB]
2021 Lost Relics - (Series 2. 6 eps. AETN / Sky History). [LINK - NB The US version was revoiced with an American voice]
2021 Alaska and the Wilds Beyond (Disney/Nat Geo)
2021 Kingdom of the Polar Bears (Nat Geo)
2020 Legends of the Pharaohs (4 eps. Sky History)
2020 South Africa Land of Extremes (Nat Geo)
2020 WWII. Hell under the Sea (6 eps. Nat Geo)
2020 World’s Deadliest Whale. (Nat Geo)
2020 UFO's Secret Missions Exposed (AETN/Blaze)
2020 Great Migrations (Nat Geo)
2020 Lost Relics of Knights Templar (Series 1. 6 eps. AETN/ Sky History)
2020 Wild Peru (Nat Geo)
2020 Climbing Redwood Giants (Nat Geo)
2020 Proving God (AETN)
2020 Cat Attack (Nat Geo)
2020 Pearl Harbour - Survivors Remember (AETN)
2019 Wild Arctic (2 more eps. Nat Geo)
2019 Cola Wars (AETN)
2019 North Korea Dark Secrets (AETN)
2019 Africa's Wildside (2 eps. Nat Geo)
2019 Photos That Changed the World (12 eps. Touchdown/History Channel)
2019 Petra - Secrets of the Ancient Builders (Fox/Nat Geo)
2019 Secrets of the White House (AETN)
2019 Wonders of the Ocean (Several eps. Nat History NZ)
2019 Forecast Shark Attack (Nat Geo)
2019 Shark Lift (Nat Geo)
2019 China’s Secrets (2 eps. Nat History NZ)
2019 Tut’s Treasures (3 eps. Nat Geo)
2019 Wild Arctic (Nat Geo)
2018 Wild Uganda (Nat Geo)
2018 Lion Kingdom (3 eps. Nat Geo)
2017 Savage Islands (Nat Geo)
2017 Wild New Zealand: Lost Paradise (Nat History NZ) [5]
2017 Nazi Megastructures (2 eps. Brite Spark Films)
2017 Badlands (2 eps. Nat Geo)
2017 Hunting Nazi Treasure (8 eps. Brite Spark. More4)
2017 World’s Weirdest Animal Faces (Wild Bear, Nat Geo)
2017 Kingdom of the Apes (Nat Geo)
2017 Animal 24 (Nat Geo)
2017 Transworld Sport (IMG)
2017 Desert Lions (Earth Touch)
2016 The Desert Sea (Nat Geo) 2 eps.
2016 The Real Saddam Hussein (Nat Geo)
2016 Saving The Devil (Nat Geo)
2016 Neighbourhood Nightmares (Red House, ITV) 2 eps
2016 Alaska Grizzly Paradise (Nat Geo)
2016 Killer Swarms (Discovery)
2016 Miracle Tiger (Nat Geo NZ) 6 eps.
2016 Egypt (Darlow Smithson)
2016 Britain's Billionaire Immigrants (Avanti for Channel 4)[6]
2016 Data Hunters (Shiver)
2016 Baby Tiger (Nat Geo NZ) 2 eps
2016 Dawn of Humanity (Nat Geo)
2016 Lions of Namibia (Nat Geo)
2016 Race of Life (Nat Geo) 14 eps
2015 CCTV (Raw TV)
2015 Terror In The Skies (Nat Geo) 6 eps
2015 Wonderfully Weird (Nat Geo)
2015 Garden Nightmares (RDF/ITV) 6 eps
2015 Ultimate Animals (Nat Geo Wild) [7]
2015 Everything You Didn't Know About Animals (Nat Geo)
2015 Mankind From Space (Nat Geo)
2015 The ICC Cricket World Cup (Aurora)
2015 Cougar County - Lions On The Edge (Nat Geo)
2015-16 Wild 24 (Nat Geo NZ) 12 eps.
2014 Australia’s Deadliest Animals (Nat Geo) 6 eps.
2014 Tethered (Discovery) 6 eps.
2014 WWII Greatest Raids (Nat Geo) 6 eps.
2014 Kingdom of The Ape (Nat Geo) 2 eps.
2014 Tech Toys (Discovery) 12 eps
2014 Inside Combat Rescue (Nat Geo)
2014 Wingsuit (Discovery)
2014 Next World (Discovery) 14 eps.
2014 Sachin Tendulkar (Aurora)
2014 Evacuate Earth (Nat Geo)
2013 Woman Raised by Monkeys (Blink, National Geographic)
2013 Costa Concordia (Discovery)
2013 World's Weirdest Animals (Nat Geo)
2013 Inside Combat Rescue (Nat Geo)
2013 NatGeo Investigates (Nat Geo)
2013 Hindenburg (Nat Geo)
2013 Nazi Underworld (Nat Geo)
2013 Ice Age Giants (BBC) 3 eps. Last of the Giants - Land of the Cave Bear - Land of the Sabre-Tooth [8]
2013-14 Brazil Monthly (IMG) 12 eps
2013 21st Century Ship (Nat Geo)
2013 Sharks Lost Island (Nat Geo)
2013 The Next Megaquake (Nat Geo)
2013 Secret Service (Discovery)
2012 Martian Mega Rover (National Geographic) [9]
2012 American Gypsies (Nat Geo)
2012 Hyaena Queen Of The Masai Mara (Cosmos, ORF) [10]
2012 Earth From Space (Nat Geo)
2012 21st Century Sex Slaves (Nat Geo)
2012 Teen Sex (National Geographic) [13]
2012 Healing Africa's Elephants (Nat Geo)
2012 America's Greatest Animals (Nat Geo)
2012 Secrets of Our Living Planet (3 eps BBC, National Geographic) [15] - Waterworlds - The Secret of the Savannah - The Emerald Band
2012 Four Horsemen (Motherlode) [16]
2012 Puma! (ZDF, Nat Geo)
2012 Full Force Nature (Nat Geo). 8 eps
2012 How Nature Works (BBC) 3 eps
2012 Trace (IMG). 6 eps.
2011 Journey Through The Milky Way (National Geographic) [17]
2011 Mystery Of The Murdered Saints (National Geographic) [18]
2011 Iceland Volcano The Aftermath (National Geographic) [19]
2011 Saxon Gold: New Secrets Revealed (Fulcrum TV, Nat Geo) [20]
2011 Roman Murder (Nat Geo)
2011 Limits of Light (Parthenon)
2011 Tech Toys (Discovery) 14 eps
2011 Columbus’ Cursed Colony (Nat Geo)
2011 Is There Life on Mars? (Discovery)
2011 Bird Brain (Parthenon) [11]
2011 Light the Ocean (Parthenon) [12]
2011 Finding Atlantis (Nat Geo)
2011 Fireball of Christ (Nat Geo)[21]
2011 Man Made Marvels (ITV) 2 eps Ancient Beijing & Hydro
2011 The Rise of Snake/Croc/Dragon (3 eps. Nat Geo)
2011 Alaska's Toughest Pilot (8 eps. Nat Geo)
2011 Science on Science (4 series. 10 eps each. Discovery)
2011 Naked Science (National Geographic) [26]
2011 Crocodile King (Nat Geo)
2011 Phantom Wolverine (Nat Geo)
2011 How Do They Do It - Safety In The Skies (8 eps. Discovery)
2010 Mega-Shredding (Nat Geo)
2010 Megaquake (Nat Geo)
2010 Journey to the Planets (Nat Geo)
2010 FIFA World Cup (IMG - monthly preview show)
2010 Journey to the Planets (Nat Geo)
2010 Clan of the Meerkat (MB-Naturfilm, NDR Naturfilm, Studio Hamburg Produktion Hannover) [29]
2010/11 The Truth Behind (6 Eps. Zig Zag) Zombies - Atlantis - King Arthur - The Ark - The Loch Ness Monster - UFOs - The Crystal Skulls [30] [31]
2010 Monster Jelly Fish (Nat Geo)
2010 21st Century Submarine (Nat Geo)
2010 Megaquake (Nat Geo)
2010 World’s Biggest Cave (ITV, Nat Geo) [24]
2010 Border Wars (4 Eps. Nat Geo)
2010 Inside Nature's Giants (Windfall Films) [28]
2010 Clan of Meerkats (Parthenon)
2010 Tiger Queen (Partheonon/Grey Films India) [32]
2010 Madness in the Fast Lane (BBC) [33]
2010 Megaquake (National Geographic) [35]
2010 Extreme Universe (Base Productions. Nat Geo.) 8 eps - inc. Star Gates - Time Bombs - Edge of Space - Space Storms - Collision Course 2010 The Pack [36] [37]
2010 Anaconda (Nat Geo)
2010 Preventing Armageddon (Nat Geo)[23]
2010 The Pack (Nat Geo)
2010 Ancient Alaska (Nat Geo)
2010 Living on Mars (Nat Geo) [25]
2009 Known Universe (Nat Geo)
2009 GT and Goodwood (Endemol)
2009 Animal Autopsy (4 eps. Windfall. Ch4)
2009 Predator Battleground (Aquavison/Nat Geo)
2009 How Do They Do It? (Series 6. 20 eps. Wag/Discovery)
2009 Ancient Megastructures (2 eps. Nat Geo)[27]
2009 Megastructures (National Geographic)
2009 Soviet Sub (Nat Geo)
2009 Tran Wreck (Nat Geo)
2009 Earth's Evil Twin (National Geographic) [38]
2009 Naked Science - Superdiamonds (National Geographic) [39]
2009 Human Prey (6 eps. Near Miss Ontario)
2009 Pensioners (Partheonon)
2009 Poland (Parthenon)
2009 Trans World Sport (IMG)
2009 Ukon Adventure (Parthenon)
2009 North Sea Adventure (Parthenon)
2009 Rolex Spirt of Golf (IMG)
2009 Known Universe - The Biggest and Smallest (BASE Productions, National Geographic Channel, Parthenon Entertainment) [40]
2008 Martian Robots (National Geographic) [41] 2
2008 Paradise Lost (6 Eps. CF Paradise Inc)
2008 Inside The Green Berets (National Geographic, UK version)
2008 China Mystery Mummies (Nat Geo)
2008 The Bear Man (Acqua Vitae)
2008 Legend of the Crystal Skulls (Channel 5 / National Geographic Channel, Picture Films, Smithsonian Networks) [42]
2008 Super Carrier (2 eps. Nat Geo)
2008 Earth Investigated (12 eps. National Geographic) [43]
2008 War on Knives (Leopard Films)
2008 Robo Chick (Noble Films)
2008 Breaking Up The Biggest 747 (Nat Geo)
2007 Saved by The Sun (National Geographic) [44]
2007 When China Ruled The Waves (Parthenon) [45]
2008 Transworld Sport (IMG)
2008 Silence Of The Bees (UK version) National Geographic
2007 Valley Of The Wolves (National Geographic) [46]
2007 Dino Autospy (Nat Geo)
2007 Engineering the Impossible - The Alhambra (National Geographic) [47]
2007 Naked Science - Birth of the Solar System (Steadfast Television)[48]
2007 How Do They Do It? (Series 5. 20 eps? Wag/Discovery)
2007 World of Wonders (40 eps. BBC/Ace)
2006 I Smack And I'm Proud (ITV)
2006 The Girl Who Never Ate (BBC) [49]
2006 Pitch Battles: England vs Germany (TWI) [50]
2006 A Tudor Feast at Christmas (Lion Television/BBC) [51]
2005 Sex On The Job (Sky) (in a weird Northern accent)
2005 Kings Of Construction (Wag)
2005 Holiday Airport (3 eps. ITV)
2005 The Secret Life of an Office Cleaner (BBC) [52]
2005 Science of Star Wars (Evergreen Films/Lucasfilm/Discovery) [53]
2002 The Ship (6 eps. BBC), directed by Chris Terrill [54]
1998 The Cruise (BBC), directed by Chris Terrill [55]

May 4, 2023

Barrick Gold reports adjusted net earnings of $247 million in first quarter, announces dividend

Vladimir Basov : May 3rd, 202(Kitco News) - Barrick Gold (NYSE: GOLD) (TSX: ABX), the world's second largest gold miner, announced today that the company produced 0.95 million ounces of gold and 88 million pounds of copper in Q1 2023.

For comparison, Barrick produced 0.99 million ounces of gold and 101 million pounds of copper in Q1 2022 and 1.12 million ounces of gold and 96 million pounds of copper in Q4 2022.

The company said that Q1 2023 production was in line with plan after planned maintenance at Nevada Gold Mines and start of plant commissioning at Pueblo Viejo.

According to a press release, Barrick's Q1 2023 gold production was lower than Q4 2022 primarily as a result of lower production at Carlin, mainly due to annual roaster maintenance resulting in lower throughput at Goldstrike, the conversion of the Goldstrike autoclave to a conventional carbon-in-leach process and a harsh winter in northern Nevada impacting operations. This was combined with lower grades at Kibali due to mine sequencing.

The company reported Q1 2023 total cash costs of $986 per ounce of gold (Q4 2022: $868 per ounce; Q1 2022: $832 per ounce) and all-in sustaining costs (AISC) of $1,370 per ounce of gold (Q4 2022: $1,242 per ounce; Q1 2022: $1,164 per ounce).

Barrick explained that the higher total cash costs per ounce reflect the lower ounces produced and sold relative to the prior quarter, while the increase in all-in sustaining costs per ounce was also driven by lower sales volumes partially offset by lower sustaining capital expenditures.

The company added that its Q1 2023 copper production was lower than Q4 2022, driven by lower production at Lumwana and Zaldívar, as expected.

Barrick noted that its Q1 2023 free cash flow of $88 million increased compared to Q4 2022 despite a lower production quarter. The company reported net earnings of $120 million ($0.07 per share) and adjusted net earnings of $247 million ($0.14 per share) in Q1 2023.

Barrick also announced the declaration of a dividend of $0.10 per share for the first quarter of 2023.

As previously guided, Barrick's gold production in 2023 is expected to increase through the year with the first quarter being the lowest, while copper production is expected to be higher in the second half of the year.

> more:

May 4, 2023

FAM vs. TLT ... from-Jul'22 :

May 4, 2023

FILRT-etc. / from Jul'23: 2023: 10d:

FILRT vs. FLI, TLT : Mar'20: Aug'22:

FILrt-etc

FILrt-FDC-etc: ALL: Last: P2.84 +0.02/ FIL: 0.65 +0.03= R-4.37x was 6.69x; FDC: 5.45, r-8.38x

FLI- 0.77 / FILRT- 5.18= 14.9%, /TLT : 106.29 : 0.72%, 4.87%

FLI/ Filinvest: All: 2008: 2020: +Etc-Mar.'21: Oct.'21: Aug'22: 10d/. Last: 0.84 -0.01. (Range: 0.73 to 1.12 )

FLI (0.64, 0.66%) / FDG (5.45, 5.66%)= 11.7%, /TLT: 96.29, EW (8.51, 8.84%), FILRT (2.92, 3.03%) at 1.08.24

UPDATED... NEW at Jan.8, 2024

Sym. : Last: ShsOS : MktCp: BkVal: Pr/BV: Divs.: Yield : DvPd
FLI.      : 0.64 24.25B = 15.5B: P3.69: 17.3%: 0.036: 5.62%: 0.87B (covered by 0.91B divs from FILRT holding)
FILRT : 2.92. 4.893B = 14.3B:  P1.09: 268.%: 0.284: 9.72%: 1.39B
Public, 34.7% 1.70B = 4.96B:  P7.00: 41.7%: 0.284: 4.05%: 0.77B > P7 is IPO price, Jul.2021
FLI pct 65.3% 3.19B = 9.31B:  P1.09: 268.%: 0.284: 9.72%: .906B
FDC* : 5.45, 8.65 B = 60.6B: 14.72: 37.0%:  0.065: 1.00%: .562B > owns 64.66% of FLI, gets 0.36B

May 4, 2023

GLCC as bellwether . Last: $28.26. (12 mo: 19.74 to 30.14 )

May 3, 2023

NOW... There's Metaverse Property..

"Attending an event talking about Metaverse here at Dubai World Trade Center"

The Ultimate Guide to Metaverse Real Estate:

> https://influencermarketinghub.com/metaverse-virtual-real-estate/

May 3, 2023

FOOD-Max fr 2016 : 1yr: 10d: 4.90+0.23 (2.19%), RFM: 3.24(1.45%) /JFC: 224. vs.MCD: $298, agi: 13.60

May 3, 2023

MEG.w/AGI: 0.182 /2.04=8.9%. MEG/ Mreit-14.70=13.9%. / TLT: 105.7=1.93%, AGI: 13.66, 5.03.23

VAFM: VLL: 1.68, FLI: 0.71, MEG: 1.96 (8.02%) / ALI: 24.45; was MEG: 2.02 (7.35%) / ALI: 27.45, may5th

MEG : from 2019 : Last 2.04

May 2, 2023

O vs IYR : 4.98% Yield at 61.39, vs. 2.96% Yield at 83.47 -

O, TLT fr. May'22: '20: '15: TLT shows 2.49% at 105.70, while TYX= 3.73%

'15:

===

May 2, 2023

VVV : Vreit goes ex-Div. May 3rd: 0.0386 x4= 0.1544 / 1.56 = 9.90% potential Yield?

FINALLY DECLARED ! Tomo is ex-Div

C02885: VistaREIT declaration of cash dividends
Ex-Date: May 03, 2023 Type of Securities: Common Cash Dividend Date of Approval by Board of Directors: Apr 19, 2023 Other Relevant Regulatory Agency, if applicable: N/A Date of Approval by Relevant Regulatory Agency: N/A Type (Regular or Special): Regular Amount of Cash Dividend Per Share: Php. 0.0386 Record Date: May 8, 2023 Payment Date: May 29, 2023 Source of Dividend Payment Cut-off Date: Dec 31, 2022 Distributable Income: Dec 31, 2022

VISTA LAND EARNINGS

VLL - Vista Land and Lifescapes, Inc. BUY | SELL

C02797: Vista Land press release - 1

"Vista Land nets P7.7B for 2022; project launches at P40 billion"

Vista Land & Lifescapes, Inc., one of the country's leading integrated property developers and the largest homebuilder posted a core net income of P7.7 billion for 2022, up 10% from 2021. The Company launched a total of P40.0 billion worth of projects across the country which was four times higher than the projects launched in 2021. Vista Land Chairman Manuel B. Villar Jr. said, "We remain bullish with the industry for this year especially with the level of our project lunches last year. We have a pipeline of projects going into 2023 and we are slated to launch more projects this year as buyer's confidence is back. We have seen sustained growth in Overseas Filipinos (OF) remittance which is projected to grow by 4% this year.

Demand from OF remained strong which resulted in the 12% growth in our reservation sales of P65.5 billion in 2022. We have also announced our shift to the upscale, vertical and commercial projects in our existing developments through our Vista Estates in various areas around the country. To date, we have launched 11 Vista Estate projects in 2022 but this is just the beginning, we will be announcing more Vista Estate projects in the coming months." Our aim is to maximize our existing land to its best use, he added. Vista Estates is Vista Land's version of integrated development of horizontal and vertical residences, commercial spaces, office components and lifestyle options that is aimed for sustainability, innovation, lifestyle-driven, world-class, and primed for growth. The Company reported a consolidated revenue of P29.8 billion for the year. Rental income amounted to P13.7 billion while real estate revenues was at P12.8 billion. Gross profit was at P7.2 billion while EBITDA posted a 6% increase to P16.7 billion. Vista Land sustained improvements in its gross margin by 571 basis points to 57% due to price increases implemented and cost efficiencies realized. EBITDA margin also improved by 491 basis points to 58% as a result of the foregoing.

2 /

Manuel Paolo A. Villar, President & CEO of Vista Land said, "Our leasing business delivered in 2022 with a growth momentum given the return to "normalcy" and the so-called revenge spending. The footfall of our malls has been improving and even exceeded pre pandemic levels during weekends and holidays, he added. "We have over 1.6 million square meters of gross floor area of commercial developments consisting of 45 malls, 56 commercial centers and seven office buildings. The funding for the expansion program of our investment properties is in place with our foray into the REIT space through VistaREIT last June 2022, he added. For our residential business, we have been aggressively launching vertical developments as we are maximizing the use of our prime land which have increased in value over the years. We ended 2022 with a land bank size of 2,902 hectares which is typically 8 to 9 years of development but now with more vertical developments in our prime land, our land bank represents at least 27 to 30 years of development." Total assets stood at P322.2 billion as of end December 2022 while equity was at P123.7 billion. Net debt to equity at the end of 2022 stood at 82% with an improvement from prior year's 91%. Capital expenditure for the 2022 was at P22.5 billion mainly for construction and land development. Land acquisitions remained muted as the Company disclosed that they are looking at maximizing its existing land bank.

May 1, 2023

TYX, etc. 3.68% at end-April

May 1, 2023

PHM : OverValued at $67? But PE is only 6x

PHM- etc ... 10yr chart: since 2013: Apr.21: $67.13, PER: 5.79, Yield: 0.95%

10yr chart: since 2013:

April 30, 2023

Another Definition:

An infographic explaining the definition of fair market value and its real-world uses.

I cannot consider Developer LIST prices as Fair Market Value.

Here's why: When someone pays the List price, and tries to Sell, they will often get a much lower price,

like 20-30% Lower, and sometimes more than that.

The developers have "Big Sales machines", which help to sustain their prices. The developers also often offer financing, or installment plans, over long period. The Re-seller does not have those Advantages.

April 30, 2023

What is FMV, "Fair Market Value"? PHL has a Three-Tiered market

TermDefinitions_FairMarketValue_colorv1-

There are THREE PRICES for Property in the Philippines Market:
1. Developers REPLACEMENT value;
Which includes all their costs, land, materials, construction costs plus marketing costs, and the developers profit margins. This price is “managed” by the developers, and will rarely be a bargain. The developer might sell at this price on an instalment basis, and even help the Buyer to obtain finance from an affiliated bank.

2. COMPARABLES price
Based on what prices are achieved in the secondary market, where the Seller may wait months for the Buyer to get bank finance. This may require the seller to have a clean title, and keep the unit vacant while they search for buyer. (Often is near the Zonal valuation of the property, and it may be significantly below NEW List prices of nearby properties.)

3. (DISTRESSED) CASH SELLERS price
The best price the buyer can obtain from Cash buyers within a limited time frame. The buyer may have to advance funds so the seller can repay the mortgage and then wait for the title. It may not be possible for the buyer to get bank finance, so they may need to have free cash available, The buyers are often investors, who will expect to achieve an Yield similar to what they can get from the REIT market (currently 6.5%), or higher than that, if the property is old and/or needs renovation,

( Please compare my detailed description here, with some vague and conflicting descriptions people may use for “Fair Market Value.” I do people hope people will spread this to add more clarity, for Buyers and Sellers. )

April 30, 2023

DIVS

Dividend History, Hang Lung Group

T. Date==: Amt.: Ex.Date : Paid :
F 01.31.23: 0.65: 05.03.23 05.19
I. 07.28.22: 0.21: 09.09.22 : 09.29
F 01.27.22: 0.65: 04.29.22 : 05.19
I. 07.29.21: 0.21: 09.10.21 : 09.29
========

April 29, 2023

"TLT / Bonds etf may be setting up an important Breakout"

REIT Dashboard, 4.28
4stk Areit: Mreit: RCR : Filrt
=== 33.70: 14.78: P5.77: 5.25:
Div. P1.98 : .977 : .389 : .363:
Yld: 5.88%:6.61%: 6.74%:6.91%
Aver. = 6.54%, Phl10yr: 6.21%

TLT, : TYX = US,LT : Prem.
106.46, 36.78=-3.68%: 2.86% prev.2.83%
Weekly Comment: watch US %
TLT may be setting up Breakout

YE'22 35.40: 14.48: P5.85 : P5.50= 6.52%v6.98% 100.7: 3.92%: 2.60%
01.27: 35.85: 14.76: P6.06 : P5.80= 6.32%v 6.12% 106.7= 3.63%: 2.69%
03.03: 35.90: 14.00: P5.55 : P5.30 = 6.56%v6.59% 101.9 : 3.89%: 2.67%
03.10 : 34.80: 14.04: P5.60 : P5.20 = 6.61%v6.45% 105.6 : 3.70%: 2.91%
03.17 : 34.00: 13.92: P5.60 : P5.48 = 6.57%v6.41% 106.8 : 3.60%: 2.97%
03.24: 34.00: 14.20: P5.65 : P5.29 = 6.58%v6.24% 106.9: 3.64%: 2.96%
03.31: 32.65: 14.46: P5.80 : P5.23 = 6.62% v6.32% 106.4: 3.69%: 2.93%
04.06: 32.10 : 14.54: P5.70 : P5.40 = 6.61% v6.22% 108.5: 3.54%: 3.07%
04.14: 32.05 : 14.68: P5.87 : P5.35 = 6.57% v6.30% 105.1: 3.74% : 2.83%
04.20: 32.90: 14.52: P5.84 : P5.18 = 6.61% v6.30% 104.4: 3.78% : 2.83%
04.28: 33.70: 14.78: P5.77 : P5.25 = 6.54% v6.21% 106.5: 3.68% : 2.86%
====

April 29, 2023

( Guess who took the photo. )

Decent Turn-out, but we held up the Intros because we were waiting for people who RSVP-ed and did not turn-up

( Too many are RSVP-ing on the Meet-Up website, and then not turning up. Free-stuff is not Valued, I suppose.

So I posted the following NOTICE . )

PLEASE BE CONSIDERATE! do not RSVP, if you have no intention in coming.

Or if you cannot at last minute, let us know. We are trying to maintain a helpful, positive and cooperative attitude in the Group, and basic politeness is helpful. Don't forget to Read the Notices carefully to see WHERE and WHEN we are meeting.

April 28, 2023

Financial Adviser: 5 Things to Know About Andrew Tan's Megaworld Corporation and How to Profit from It

MicrosoftTeams-image%20(73).png

Excerpts

Last year, over 80 percent of property stocks listed on the Philippine Stock Exchange saw a decline in value, ending the year with losses as a result of high interest rates.

One of the top three biggest losers in the sector was Megaworld Corporation (PSE: MEG), which saw a 36.5 percent decline in its stock price.

This year, MEG’s stock price continued to weaken after being removed from the PSE Index last February. The removal of MEG from the index could result in decreased demand for the stock.

1. Earnings Outlook

"Last year, MEG's total revenues continued to recover, growing by 18.8 percent to P55 billion, but its total net income hardly increased at P13.5 billion, due to higher interest and tax expenses. This year, with the full reopening of the economy, MEG’s net income should be able to meet, if not surpass, its 2019 earnings at P17.9 billion."

2. PER, Price Multiple

"Based on MEG’s 2022 net income of 13.5 billion, MEG is trading at a Price-to-Earnings (PE) multiple of only 4.6 times, which is comparatively low against its pre-pandemic historical PE average of 10 times. At 4.6 times PE ratio, the market was valuing the stock at its 2011 level where the company’s net income was at P8.0 billion... Now, if we will price MEG at 7.8 earnings multiple, given its current income of P13.5 billion, then we should expect its stock price to recover eventually to P3.40 per share."

3. Financial Strength

MEG has a low debt-to-equity ratio of 0.39 as of end of 2022, which is a slight decrease from the previous year’s ratio of 0.41. This is also significantly lower than the property sector’s average debt-to-equity ratio of 0.73. MEG's debt-to-equity ratio compares favorably to other property stocks in the market, such as Ayala Land (PSE: ALI) with a ratio of 0.89, and SM Prime Holdings (PSE: SMPH) with a ratio of 1.04.

4. Book Value : book value per share of P6.70 per share.

MEG’s current share of P1.98 per share represents only 29 percent of its book value, which means that the stock offers a huge 71 percent discount to its accounting net worth.

Based on market experience, the Price-to-Book (P/B) ratio of a stock is positively correlated with the Return on Equity (ROE) ratio. This means that the higher the ROE of a stock, the higher its P/B ratio should be. In the case of MEG, its ROE as of end of 2022 was 6.37 percent, which is higher than the property sector’s average ROE of 5.46 percent, but its P/B ratio of 0.29 is miserably lower than the sector’s average of 1.81 times. Moreover, MEG also compares well to the leading property stocks in the market such as ALI, which has ROE of 5.45 percent but has high P/B ratio of 1.74 and SMPH with ROE of 6.25 percent at P/B ratio of 2.91.

5. Intrinsic Value

Compare MEG’s premium over its “net-net” value in the past years, the historical premiums were comparatively higher. In 2021, MEG’s premium was 68 percent. In 2020 during the height of the pandemic, its premium was 174 percent. Prior to the pandemic in 2019, MEG’s premium was 183 percent. If we get the average of MEG’s premium from 2019 to 2021, we will derive an average of 142 percent or price-to-net-net value ratio of 2.42 times.

If we apply this to MEG’s net-net value of P1.80, we will derive a target price of P4.36 per share.

> https://www.esquiremag.ph/money/capital/megaworld-corporation-stock-tip-a2334-20230307-lfrm2

April 28, 2023

MREIT, Inc. ... compare w/MEG :

TLT vs RCR, Mreit. .. /TLT- 106.46 : RCR- 5.77 (5.42%), MReit- 14.78 (13.9%) : Mreit/RCR= 39.0%

C02799: MREIT press release - 1 ... "objective to deliver at least 10% annual total shareholder return"

"MREIT'S DISTRIBUTABLE INCOME MORE THAN DOUBLED IN 2022"

MREIT, Inc., the REIT company of the country's largest office landlord Megaworld Corporation, registered a distributable income of P2.5- billion in 2022, more than doubled compared to last year's P1.1-billion. This is owed to the company's revenues of P3.6-billion, also higher compared to last year's P1.5bn. In 2022, MREIT posted an average occupancy of 96%. Last February 15, MREIT paid out dividends of PO.2428 per share to its shareholders based on its distributable income in the fourth quarter of 2022. Total dividends for the year reached P0.9770 per share. This brings the company's dividend yield to 6.7% as of MREIT's closing share price of Php14.54 per share on April17, 2023.

The company was also recently included in the Philippine Property Index. This achievement affirms the company's commitment to delivering sustained growth and long-term value to our stakeholders and reinforces MREIT's position as a leading player in the market. "We cap off the year firm despite some headwinds faced by the office industry. Our ability to adapt and pivot in response to the ever- changing market conditions is a testament to the quality of our assets. As we look ahead, we believe we are well positioned to withstand any headwinds that may come. We will continue leveraging our expertise and experience to capitalize on emerging opportunities," says Kevin L. Tan, President and Chief Executive Officer, MREIT, Inc. Last month, MREIT announced the approval of the acquisition of an additional four prime office properties in Megaworld's prime township McKinley West and Iloilo Business Park worth P5.3-billion. Income from these new assets will contribute to MREIT starting January 1, 2023 and is expected to further drive MREIT's growth

2 /

The acquisition expanded MREIT's portfolio by 44,567 square meters or by 16% to 325,000 square meters covering 18 office properties in four Megaworld premier townships: 1800 Eastwood Avenue, 1880 Eastwood Avenue, and E-Commerce Plaza in Eastwood City; One World Square, Two World Square, Three World Square, 8/10 Upper McKinley, 18/20 Upper McKinley, and World Finance Plaza in McKinley Hill; One Techno Place, Two Techno Place, Three Techno Place, One Global Center, Two Global Center, Festive Walk lB, and Richmonde Tower in Iloilo Business Park; and One West Campus and Five West Campus in McKinley West. MREIT is committed to grow its portfolio by 54% to 5001000 square meters by 2024. This will help the company achieve its objective to deliver at least 10% annual total shareholder return through a combination of both organic and inorganic growth.

April 28, 2023

MEG & ELI: at Cross-market "pinch points"? Watch MREIT for Trigger maybe?

ELI - Meg: w/AGI: 0.186 /2.00= 9.3%. MEG/ Mreit-14.76=13.6%+0.08 +0.54%, breaking 252d MA AGI: 13.78 +6.5%

ELI - Meg: 10d:

Mar'20: Apr'21: 10d: TOO CHEAP? MEG/ Mreit Ratio at a LOW now?: 2.00/ 14.78= R: 13.5%

Co. : Last : Bk.V.: shOS : MkCap: PER : Yield : Ye’22 : % chg.
AGI : 13.80: 22.15: 9.47B: 131. B: 7.72x 0.87%: 11.90 : +3.87%
MEG: P2.00: P6.64: 31.5B: 63.0B: 4.69x 3.07%: P2.00: + 0.0%
Mreit 14.78: 20.60: 2.53B: 74.8B: N /A 6.63%: 14.48: +2.07%

AGI : 131B MC owns 6.00B / 100.% MEG pfd., worth? 12B ?
: 131B MC owns 14.47B / 45.9% MEG shs, worth: 28.9B
AGI : 131B MC owns 20.47B/ 55.3% of 37.5M MEG shs.
: Acquired 106M shs x 2.00= P212M in Mar.2023

MEG: 31.5B MC owns 1.84B, 72.5% Mreit: worth: 27.2B
MEG’s div, 1.84B x 0.98 (Div.6.63%)= 1.80B/ 31.5B sh=P0.057

Hmm. At 2.00, MEG trades at just 35x its incoming div. from MReit
and this covers 93% of the 0.0614 Div. MEG pays.

SUMMARY: in Mar.23 alone, AGI added over P 200M of MEG shs, that's +0.5%

April 28, 2023

FILRT - Filinvest REIT, Corp. : Last : 5.25 - 0.05

C02862: Filinvest REIT press release - 1

"Filinvest REIT Corp. (FILRT) underscores portfolio diversification and leasing updates in Stockholders' Meeting"

Filinvest REIT Corp. (FLRT), the flagship commercial REIT of the Filinvest group, recently held its virtual Annual Stockholders Meeting where the company shared highlights of its 2022 performance, including updates on its office leasing business. FILRT recorded a net income of P1.31 billion in 2022 that was achieved on the back of rental and other revenues of P3.24 billion.

Average occupancy for the year was 89 percent, including the newly infused Boracay property that was added to the portfolio in December 2022. The infusion added 29,086 square meters of gross leasable area (GLA) to FILRT's portfolio and expanded its income profile beyond office leasing and into the hospitality sector with the lease of Crimson Resort and Spa Boracay. Its office leasing business finalized new leases and signed Letters of Intent totaling almost 10,300 square meters in the first quarter of 2023. This is more than double the new leases signed for the entire year in 2022. The tenants that signed are a mix of multinational BPO and traditional companies. "We are happy to note that tenants are starting to come back and pushing forward with their expansion plans. We are hopeful that this is a sign of reversal from the challenge we faced last year due to the implementation of hybrid work set-ups in PEZA Special Economic Zones like our Northgate Cyberzone property in Alabang," said FILRT president and chief executive officer Maricel Brion-Lirio. FILRT and the office leasing segment have experienced changes due to the evolving global workplace environment, as remote work has become more prevalent.

/ 2 :

Of the 10,300 square meters of new leases, about 56 percent are existing multinational BPO clients of FILRT that need additional space for their expansion. Existing traditional tenants likewise took up additional space for expansion, accounting for 24 percent of total. The balance of 20 percent was signed by new traditional tenants. Meanwhile, more than 13,300 square meters or 32 percent of the lease expiries for 2023 have already been renewed, with the balance due for renewal during the remainder of the year. FILRT expects its portfolio to benefit from intrinsic and organic growth as building occupancy improves. Contractual escalation terms are built into about 90 percent of the office leases, averaging 5 percent per annum rental escalation overall. The inorganic growth potential of FILRT is backed by the right of first refusal (ROFR) that sponsor Filinvest Land Inc. (FLI) has granted to FILRT. This covers all significant commercial properties owned by FLI and its wholly owned subsidiaries. FLI has about 465,000 square meters of office and mall gross GLA in key CBDs that are potential acquisitions for FILRT.

Other asset classes may also be added to FILRT coming from the commercial projects of the Filinvest group. "Our sponsor FLI is fully committed to grow FILRT's portfolio with regular asset infusions. We are guided by a clear investment strategy in order to sustain the portfolio expansion and provide a stable and competitive return to investors," added Ms. Brion-Lirio. FILRT is focused on sustainability and the utilization of eco-efficient assets. Two buildings in FILRT's portfolio are LEED Gold-certified while two other buildings passed the criteria for Level 1 certification on EDGE (Excellence in Design for Greater Efficiencies) developed by the International Finance Corporation. These green building certifications confirm FILRT's commitment to sustainability, particularly on energy, water and resource efficiency. As a sustainability-themed REIT that is backed by a strong sponsor and ESG principles, FILRT looks forward to growing of resilient and robust real estate investment portfolio.

April 27, 2023

Fresnillo increases silver equivalent production by 7% y-o-y in Q1,

reiterates 2023 guidance

Vladimir Basov

Wednesday April 26, 2023 12:13

(Kitco News) - Fresnillo (LSE: FRES), the world's largest primary silver producer, announced today that in Q1 2023, its attributable silver production of 13.1 moz remained flat (-0.9%) compared to Q1 2022 primarily due to the lower ore grade and decreased volume of ore processed at San Julián (DOB) and Ciénega, offset by the increase in volume of ore processed at Fresnillo and higher ore grade at San Julián Veins.

However, the company said that its Q1 2023 attributable silver production was up 5.1% compared to Q4 2022 mainly due to a higher ore grade at San Julián (DOB) and the increased contribution of ore from Juanicipio, partly offset by the lower volume of ore processed at Saucito.

Fresnillo’s quarterly attributable gold production of 173.0 koz was up 15.5% over Q1 2022 primarily due to the higher volume of ore processed and ore grade at Herradura and the higher ore grade at Saucito, partly offset by the decrease in gold production at Noche Buena.

Compared to Q4 2022, the company’s attributable gold production was up 3.0% mainly due to the higher ore grade at Saucito and higher ore grade and recovery rate at Herradura, partly offset by the lower recovery rate and decrease in ore grade at Noche Buena.

On a silver equivalent basis, the company produced 27.0 moz in Q1 2023, which is an increase of 7% compared to 25.3 moz produced in Q1 2022 and an increase of 4% compared to 25.9 moz produced in Q4 2022.

Importantly, the company said that its 2023 guidance remains unchanged. Fresnillo expects its attributable silver production to be in the range of 57.0 to 64.0 moz while attributable gold production is expected to be in the range of 590 to 640 koz. Expressed in silver equivalent ounces, production is expected to be 104 -115 million ounces.

CEO Octavio Alvídrez commented, "I am pleased to report a solid start to the year. Silver and gold production are both up on the previous quarter driven by the increasing contribution from our new Juanicipio mine and the strong performance at our Herradura gold mine in particular. We have a very clear set of priorities that we are focused on in the second quarter. This includes the continued safe ramp up of the Juanicipio plant now that we have successfully completed the commissioning phase, while also progressing the tie-in to the national power grid of our new Pyrites Plant.

“Both of these projects will support our production objectives into the future. We have successfully managed through considerable recent challenges, reaching a sound level of operational consistency, putting us well on track to meet our full year production guidance."

Fresnillo is the world's largest primary silver producer and Mexico's largest gold producer. Fresnillo has eight operating mines, all of them in Mexico - Fresnillo, Saucito, Juanicipio, Ciénega, Herradura, Soledad-Dipolos, Noche Buena and San Julián (Veins and Disseminated Ore Body), one development project - the Pyrites Plant at Fresnillo, which has been completed and is awaiting tie-in of the plant to the national electricity grid, and four advanced exploration projects - Orisyvo, Rodeo, Guanajuato and Tajitos as well as a number of other long term exploration prospects. Fresnillo has mining concessions and exploration projects in Mexico, Peru and Chile.

April 27, 2023

Nickel Asia to open two more Philippine mines, eyes power unit IPO

Reuters | Apr 24

MANILA, April 24 (Reuters) - Nickel Asia Corp ,the Philippines biggest nickel ore producer, expects to bringtwo more mines into production in three years and will assessthe feasibility of building

April 27, 2023

Now that APX has taken off into the Stratosphere...

I have my eye on PX / Philex Mining. I have been adding on dips. PX was: 3.19 +0.12, +3.9%

Updated: PX-etc : PX Last: 2.71 / UGL (58.53)= 4.63%, /GDXJ (35.59) = 7.61%, /APX (2.52) = 107.5%,

OLD: PX Last: 3.19 +0.12, +3.9%

Sym. Last: BkVal: P/BK : PER: EPS : Yield:
APX : 2.78: $ 1.18 : 236.%: 4.72: 0.59: 0.38%
PX.   : 3.16:   5.40 : 58.5%: 8.94: 0.35: 0.65%
AB    : 6.46: 0.33 : 19.6 x: N/A : 0.00: 0.00%
BC    : 4.60: 10.29: 44.7%: 1.83: 2.51: 0.00%
Marc: 1.02 : 1.55 : 65.8%: 9.15 : 0.11 : 0.00%
====
Gdxj: 40.03: 00.0 : ====: ==== ===. 0.45%
Gold : 18.4: 00.0 : 100.%: 17.22: 3.54%
ARIS : 4.26: 00.0 : 100.%: N/A : 4.23%
====

April 26, 2023

APX hits 2.90

APX-etc :

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Fresnillo increases silver equivalent production by 7% y-o-y in Q1,

reiterates 2023 guidance