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Just when the co turns itself around in comes a poor deal for the Shareholder
Large buys, compared to previously
In the past you have sometime struggled for sell quotes but for the past few weeks you can sell in quantity and way above advertised bid. Someone is out there hoovering up owt thats sold. Turnaround share of 2014 imo.
lovely looking chart ....... business has been successfully re-structured, new contracts, large director buying, no stock around and very limited free float ....could well go all the way back to 50p + now. Trading statement due as done this in Dec a few times . If this is a statement of the coninued turnaround and winning of new business in new markets around the world then this will move quickly. GL
the week again. Slowly slowly catchy monkey. The director buying looks good now !!!!
only buy 1000 shares without neg trade with HSBC. Nothing around. Trading update due, think it will be very good.
In the last results this comany had cash equivalent to around 29p per share. The business is in for free at these prices. They are successfully turning this around and still winning business. Great great recovery play.
large trades recently. A trading update is due and with the huge director buying recently, i dont think it will be a bad one !!!!! Decent looking chart here aswell .... a run upto the 35p area possible. Trades a big discout to cash .....real takeover target imo.
1.6 milllion director buy shown up as a sell from friday so who had the other 1.2 million just before ? Plot thickens.
full ask @ 19p. Can sell for 17.65p. Looking better this pm.
£266K director buy. They have been splashing the cash recently ...some other massive trades. Very interesting.
Some huge buys yesterday...
19 September 2013 NORCON PLC ("Norcon" or the "Company") Director/PDMR Dealing and Holdings in Company Norcon (AIM: NCON), the global communications network specialist, was notified on 18 September 2013 of the following transactions: Trond Tostrup, Executive Chairman, purchased a total of 100,000 ordinary shares in Norcon at an average price of 15.95p per share on 18 September 2013. Further to this acquisition, Trond Tostrup is interested in a total of 372,222 ordinary shares, which represents 0.76% of Norcon's issued share capital and voting rights. Stephen Preston, Chief Executive Officer of operating company Norconsult Telematics Ltd, purchased a total of 10,000 ordinary shares in Norcon at an average price of 15.3p per share on 18 September 2013. Further to this acquisition, Stephen Preston is interested in a total of 77,377 ordinary shares, which represents 0.16% of Norcon's issued share capital and voting rights. Norconsult Telematics Holding Ltd. purchased 1,500,000 ordinary shares in Norcon on 18 September 2013. Norconsult Telematics Holding Ltd. is now interested in 24,528,911 ordinary shares, which represents 50.26% of Norcon's issued share capital and voting rights. For further information, please contact: Norcon plc Trond Tostrup, Executive Chairman +47 901 69369 finnCap Stuart Andrews/Charlotte Stranner +44 (0) 20 7220 (Corporate Finance) 0500
volumes.............
The loss before tax for the full year 2012 is expected to be marginally higher than current market expectations for communications network specialist Norcon, an update issued by the company on Friday has disclosed. The AIM-listed company stated that market expectations had been reduced following the company's trading update on September 17th and its interim report for the six months to June 30th released on September 20th. On Friday, the company stated that turnover for the financial year was expected to be "in line with current market expectations". It said it was not expecting to pay a dividend for the financial year ending December 31st. Norcon's main activity is providing project, vendor performance management and outsourcing services for telecommunications operators.
Norcon, the global communications network specialist, has confirmed that the large new project secured in Indonesia, announced last week, is with Indosat. The project is to enhance, expand and improve the quality of Indosat's cellular network. "Diversification of our revenue base into new geographies is the key strategic priority for Norcon and this deal with Indosat is evidence that we are making progress here," the firm's acting CEO said.
In the future, the company proposes to pay out a dividend of at least 25% of net income going forward. The statement gave no indication whether shareholders would be required to do this calculation for themselves based on published earnings per share figures ... The board will in addition consider special dividends each year on a case by case basis. It also intends to pay an interim dividend in the coming years. Cash at the end of the year increased from $11.99m to $12.46m.
The company did not pay an interim dividend in respect of 2011 but does intend to pay a final dividend of $1m; that's in total, not per share. The company indicated that the payment represents "a yield of 5% at the current share price", so based on last night's closing price of 26p and a US exchange rate of $1.5935, that suggests a dividend payment of 2.07155 cents a share, although using the number of shares in issue figure provided by the company, the dividend works out at 2.049146 cents a share. Hpuse broker finnCap has gone with a figure of 2.0 cents.
finnCap has taken the view that "the 2011 year-end accrued income balance could potentially result in an equivalent reduction to the customer's budget for Norcon services in 2012 and have therefore set a conservative revenue forecast of $55m, 90% of which is already visible. "Assuming consistent gross margins and an increase in operating expenses to account for the new hires, we expect a PBT [profit before tax] of £3.0m for 2012," finnCap analyst Mark Paddon added.
The fruits of the company's investments are not expected to make much difference to the top line until 2013, and will put a dent in 2012 profits. "We are confident that opportunities exist for Norcon to continue to grow organically over the longer term given the new contracts and investments in our core market, as well as the increased pace of international diversification," said Chief Executive Officer Arnold Rørholt. "We look forward with confidence to the years ahead and the contributions our new efforts will bring to the company," Rørholt added.
"The group retains a strong balance sheet and is initiating a strategic programme to strengthen technical and sales resource in various sectors and geographies which should result in improved growth prospects and a broadening of its customer, sector and geographic revenue base," house broker finnCap noted.
Basic earnings per share fell from 9.10c to 7.27c. Diluted earnings per share, which reflect changes in the number of shares in issue were 8.72 cents in 2010. With a tough year behind it, the group is looking to increase the emphasis on geographical expansion and the development of new services, as part of its long-term diversification strategy.
Norcon, the global communications network specialist which posted a profit warning in February, managed to hit lowered expectations with its full year results. The firm, which said it was able to put in a resilient performance in a difficult year as a result of its long-term relations with key customers, generated a pre-tax profit of $5.4m (2010: $6.7m) on revenues of $66.6m (2010: $68.6m). The decline was attributed to a shortfall in new business, increased cost of sales, and higher finance expenses, as flagged at the time of its February profit warning
SP has been one way for years . The BoD says results are broadly flat - however they appear generally down... how much is written in to current SP?