Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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H1 results are poor as already flagged - but PEG are still profitable. Hopefully they're already baked into the share price, with the m/cap now at just £11m, but that's probably being optimistic!
Good to see that the group generated £770k of positive operating cash flow - a big rise in debtors since the year end is mainly behind the net decline.
Surprisingly, given the already flagged delays in Rail tendering, Rail has performed well, along with Traffic, and the main culprit has been Defence.
There continue to be reasons to be positive, including the order book and the likely return of tendering activity and large contract wins in Rail and Defence, but until then the downgrade in H2 expectations means the short term will be dull.
Mark Watson-Mitchell likes PEG and has a 40p target:
Https://masterinvestor.co.uk/equities/small-cap-round-up-featuring-eddie-stobart-chemring-and-futura-medical/?utm_source=Daily+Bulletin&utm_campaign=fbf1fe4796-Daily_Bulletin_20190913&utm_medium=email&utm_term=0_25eff0bb7f-fbf1fe4796-34898813
"Petards Group (LON:PEG)
This advanced security and surveillance systems group needs to see its shares start to climb back up to their previous 2019 highs again.
So, the recent two items of news, a big electronic countermeasures contract with an MOD supplier, together with a major product announcement of a military grade 360 spherical video system for armoured vehicle personnel, should help to turn the price.
Now at just 20p, the shares have been up to 29p since my mid-April profile at 22p, before collapsing back to the current level.
At this rate of progress, it might need quite a bit more on the good news front to get the shares up to my 40p target price – but I am still hoping."
Some commentary on Thursday's announcement from the Chairman:
Https://www.insidermedia.com/insider/northeast/security-developer-unveils-military-grade-video-system
"Security developer unveils military grade video system
13 Sep 2019
A group that develops advanced security and surveillance systems has unveiled a new military grade video system at the Defence and Security Equipment International (DSEI) event.
Petards Group has showcased its new product, EyeCraft360, a military grade 360 spherical video system that allows personnel in armoured vehicles to see around, above and below them, without leaving the safety of their vehicle.
The EyeCraft360 is waterproof and dustproof, while also giving the user the ability to eliminate visual blind spots.
"We are delighted to see the early fruits of our investment in this innovative solution for local situational awareness," said chairman Raschild Abdullah.
"It combines the best of our defence heritage and video know-how."
Petards, which also develop technology for rail and traffic solutions, has its defence services operation in Gateshead.
"we are delighted that Major General Colin McClean of the UK’s Defence Equipment and Support (DE&S) was able to take the time to visit our stand and try out eyeCraft360 for himself," said defence director Scott Patterson.
"We have been very lucky to have had support and advice from serving British Army personnel throughout the development process and look forward to putting it into service."
I do like the sound of this new product in today's announcement:
Https://www.investegate.co.uk/petards-group-plc--peg-/rns/product-launch/201909120803320981M/
"Product Launch
Petards, the AIM quoted developer of advanced security and surveillance systems, has unveiled a new product at Defence and Security Equipment International (DSEI). EyeCraft360 is the world's first military grade 360 spherical video system. It allows personnel in armoured vehicles of all kinds to see around, above and below them without leaving the safety of the vehicle. EyeCraft360 has been designed for the defence export market. Full details can be found at www.eyecraft360.com.
Commenting, Raschid Abdullah, Petards Chairman said: "We are delighted to see the early fruits of our investment in this innovative solution for local situational awareness. It combines the best of our defence heritage and video know-how. The EyeCraft360 has been well received at the DSEI with many overseas military delegations and major defence companies taking the opportunity to experience the product.
We are now focussed on taking eyeCraft360 to new markets around the world".
Think this should start rising soon from these lows
had 19m on order book from end of 2018, and contracts dropping in. Looking good value down here around 20p. I’d be surprised if this isn’t back above 30p in coming months.
“Contract Win
Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has been awarded a £1.1 million contract by a major UK defence systems contractor to provide Electronic Countermeasures equipment for use on a UK Ministry of Defence ("MOD") programme.
The contract is for the manufacture and supply of equipment that will form part of an integrated Defensive Aids Suite on military aircraft. Most of the equipment is expected to be delivered in the second half of 2020.
Commenting, Raschid Abdullah, Petards Chairman said: "We are delighted to have been reselected for the next phase of this electronic countermeasures project which will serve to protect aircraft and the lives of the Service Personnel that fly in them. The Company has been supplying and servicing such systems for many years and we believe that this is indicative of the value that our customer places on our expertise in this specialist field".
Why the big drop in share price ? Is there something I should know ?
This looks very promising - a "world first" new product being launched next month:
Https://armadainternational.com/2019/08/worlds-first-military-360-degree-camera-technology-set-to-transform-armoured-vehicle-vision/
"World’s first military 360 degree camera technology set to transform armoured vehicle vision
August 2, 2019
Petards have announced that they will be launching ‘eyeCraft360’ at DSEI London in September 2019. EyeCraft360 is world’s first military grade 360 spherical view camera system which dramatically improves local situational awareness for armoured vehicles without risking the safety of the crew.
Defence experts from around the world will be among the first to try out this brand new product, which instantly gives complete coverage around any vehicle including directly above it and below.
Developed in response to the growing need for improved close-range awareness, especially in the urban environment, eyeCraft360 provides a simple, rapid and cost effective capability boost for in-service armoured vehicles. It also helps to reduce accidents and damage when manoeuvring.
The system comprises a hull-mountable omnidirectional camera, a single rugged screen and an armoured cable to join them together. Thanks to the simplicity of the design, it is ready for use straight out of the box. Expensive and time-consuming integration is not required.
It avoids the need for any mechanical moving parts by digitally stitching and stabilising its inputs to give a seamless full 360 view at all times. Scott Patterson, Defence Director at Petards says ‘we are very excited to be able to bring together our defence expertise and our camera know-how to create an innovative product which will make a real difference in keeping vehicle crews safe. The reaction from serving and veteran soldiers who have seen it so far has been incredibly positive.’
More information including (the soon to be published) first video of eyeCraft360 in action is now available at www.eyecraft360.com. For exclusive pre-launch information, demonstrations and pre-orders please email defence@petards.com.
Due to the early interest in the product, Petards are recommending that those wishing to try it at DSEI this year contact them as early as possible to reserve a slot. Expressions of interest are also welcome from trusted worldwide companies who have regional market expertise and wish to help develop the technology further.
Petards are a global leader in data driven security, surveillance and communication technology. They are experts in developing defence, rail and traffic solutions that help deliver smart technologies. Their reputation, which is based on exceptional customer service, cutting edge technical capability and high quality products, has allowed them to build relationships with leading companies and organisations across the world, including Bombardier, Siemens, Stadler, Hitachi, BAE Systems, Leonardo and the UK’s Ministry of Defence."
PEG's systems are being used in a prototype train, with support from Porterbrook - and with "strong interest from train operators to develop a production version":
Https://pressreleases.responsesource.com/news/97974/innovation-from-digital-rail-ltd-helps-make-railways-safer/
"Innovation from Digital Rail Ltd helps make railways safer
Friday 28 June 2019
An innovation to help reduce yellow line incidents was demonstrated by Digital Rail Ltd at the recent Rail Live event, an exhibition which brings the entire rail industry together in a real railway environment. Their RailSight® system assists the driver and guard by detecting anyone beyond the yellow line and alerts the driver’s display by highlighting the carriage door on a monitor. The system uses existing CCTV cameras supplied by Petards and does not impact on any existing systems.
Digital Rail Ltd Director Howard Parkinson explained: "We have a great team combining experienced engineers with a young team of computer graduates, many from Lancaster University, where our office is based. Our RailSight® system is currently a prototype and we have a strong interest from train operators to develop a production version. Rail Live was a welcome opportunity for us to show our innovation to the Railway industry. This could not have done without the support of Porterbrook who provided a whole train dedicated to new ideas and technology – the Innovation Hub. We received a lot of interest from a wide range of people, and had the opportunity to explain our ideas to the Secretary of State for Transport, Chris Grayling who made a point of visiting the Innovation Hub"
The company is involved in several new initiatives which build on the idea of using intelligent systems to interpret CCTV video. These include the yellow line safety improvements, identifying people requiring assistance at platforms (wheelchair users for example) and helping station staff to manage railways users.
etc"
PEG is the fourth largest holding in Downing's UK Micro-Cap Growth Fund at 6.23% of the Fund, and their monthly newsletter just out today features PEG as follows:
"Petards announced that the year has started well, with performance in the first three months in line with budget. Order coverage for 2019 and forecast levels of transactional business for the remainder of the year are in line with the board’s expectations. Management’s focus remains on building on the current order book for 2020/21 where it is in discussions over new business, particularly in Rail Technology, where there are significant new contract opportunities."
Good to see a 50k buy this morning, and to see sells achieving a premium over the bid.
About time for one of those orders flagged by the company to come through.
Five buys in 30 minutes of around 50,000 shares - strange, but encouraging :o))
Thanks for your views, Rivaldo.
I've been with them since "Screen" days !
Up again today on just a 13k buy, with other buyers continuing to pay a premium for stock in the last few days. It seems there's a continuing shortage of stock here.
PEG's share price has increased almost 200% in the last 4 years. Juantheman, With 2019's numbers already largely secured (given an H2 bias), and with a "number of significant new contracts are in the offing" per the statement only two weeks ago, there's room for large upside from the current £15m m/cap imo, particularly if any of those contracts get RNS'd soon.
.... this stock was in the low 30p's in early 2017 and 28p+ in January this year.
Mind, they are so boring & inactive it's hardly worth following the stock on a daily basis.
If they ever get around to paying a dividend the rating would benefit significantly ....imo
How high do you expect this to go, Rivaldo ?
I've held this stock for years, this is the highest price I can remember.
27.75p paid for 20,000 shares just now, well above the 27p published offer price.
Good to see a 1p jump up today on just a £4k buy.
With any announcement regarding the "number of significant new contracts...i n the offing" as detailed yesterday, you probably won't see the share price for dust given the lack of available shares.
The two RTS and QRO acquisitions over the last 3 years brought in almost £400,000 of PBT alone - pretty material for a £14m m/cap company forecast to make £1.52m PBT and 2.65p EPS this year.
Another acquisition adding a further £150k-£200k of PBT would take the rolling EPS to around 3p.
This is a good AGM statement. Nicely in line, and the order book for 2019 has increased well since the year end to £14.6m from £13m, i.e this year's forecast revenues are already two-thirds covered.
And it seems we should have "significant" contract news soon:
"management's focus continues on building on the current order book for 2020/21 where it is in discussions with its customers over new business across the Group, in particular for Rail Technology where a number of significant new contracts are in the offing."
With the rail investment phase now completing, QRO and RTS performing well, and more acquisitions explicitly stated today as on the cards, PEG looks in good shape going forward.
Apparently Techinvest has just commented that the shares look undervalued and repeats its buy rating.
Looking encouraging online - you can sell 30k at 24p, but only buy a maximum 15k at 25.9p.
Good to see a couple of ticks up this week, including after a 30k buy this morning.
Not in here but you have the finance director buying shares.
rivaldo.... this stock has looked 'cheap' for a number of years.
I believe you are/were a holder as was I until 2017. Not since January of that year have the shares moved markedly higher and that was on the back of strong tipping (if I remember correctly). Again by MW-M.
A dividend payment would broaden investor appeal ......
There is something more than the lack of marketability holding the shares back...
???