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Big spread has opened up with this share over the last day or so. Probably down to the illiquidity of the share with not a lot in issue and low volume. Real spread on getting a quote seems to be much more reasonable. This also means the share price can rise or fall by a disproportionate amount during the day. I have seen this with other shares I have invested in and hasn't stopped the share from rising well over time, with the occasional set back. Good luck and regards CM
Neither am I going to make loads of money - I invested less than you. Better to keep some funds back to average up should all go well than over invest and regret it later. CM
I put in....I'm not going to make loads of money. see where it goes today.
Knew F all about them...not "new"
Thanks...you're right...I checked the faller list, saw this company and new F all about them. Checked L2 - only market makers. Checked the company website and the preAIM listing financials (a company that makes money and is growing the bottom line.. That all equals - some bid offer manipulation and no reason for the fall and that time the SP moved to 129 and I bought at 129.5p. Now, it is sensible? I have done it a few times...but you really have to be disciplined in that there cannot be any reason for the fall and it can only be MM in play,,,then I am fairly certain they are just playing around to churn up the shares a bit.
Although QTX remained on a watchlist of mine from when I was showing an interest last month, I didn't notice the fall in the share price until late morning when I was checking on share fallers. I was amazed. I too could see no reason for the fall, so it could have been one heck of a tree shake. I seem to remember from all that I had read previously that things were positive. I felt I had missed the boat to invest here. However, with the share price back to where I had looked at investing before and with the share price recovering strongly, I decided to invest and hope that nothing nasty will show its head. Robbie Burns, the Naked Trader, invested in QTX on 7 November at a price of 138.9p and then again on the 17 November at a price of 162p. I would not be surprised if RB has topped up today, unless he knows something we don't. Partypolitics - looks like a very timely purchase on your behalf!. I don't think I would have had the wotsits to invest until I saw some recovery in the share price. Perhaps you bought at a time when it was on its way back up, since the price showing at the time of your post is not necessarily what you paid. Good luck all Regards CM
Wall to wall MMs...so I bought on the weakness
Been looking to buy in for a while. Any reason for 30% drop this morning?
Thanks EJL7. I will have a look at the shares mentioned. Can I make a suggestion?, lets go to another bb so we can free this one to those invested in QTX. Try RM., very quiet there and one I have been looking over. Good luck to all here CM
CM- Agree-will have to pass also-price has run away from me. You might want to take a look at these 3 longer term holdings of mine-just ideas(sorry O/T) SQS-the world's largest supplier of independent software testing and quality management services-but not at this price-maybe 5-10% lower SPP-one of Europe's leading home safety products suppliers-again at least 10% lower, and GKO-the Indian developer, owner and operator of clean energy projects, look around 140 If I can help with any background-will try. Good luck.
Thanks for the post, much appreciated. I think this one has moved away from the price I was prepared to invest at; so I will wish all here the best of luck and move on. However, I will keep this on a watchlist and see where it goes out of interest. This may well move higher. I just wonder if it will pick up investors/ment from others who are/were invested in QPP. I don't think there is a problem getting into QTX, it is more of a matter of the degree the share price has to move before I/we move into profit, quite a spread. Having said that, had I bought in at 153p, I would be in profit now. Not going to dwell on it though. There are other opportunities around. Don't want to rush into anything, it is all too easy to push the buy button without due diligence. Can still get it wrong even after dd mind you!. Regards CM
CM- First regarding QPP, think they’re a spent force for awhile(hopefully the QPP board doesn’t read this). They do, as far as I know, still provide telematics services(thru CCS-Connected Car Solutions) to CAA SCO in Canada(agreement signed last April)and elsewhere-see this: "Quindell is a global leader in the provision of full end-to-end telematics services, offering both usage based insurance and behavioural based insurance solutions. CAA SCO will be using a full suite of Quindell solutions including the provision of devices, network connectivity, product platform, systems integration, logistics, mobile applications, data analytics, call centre services and consumer-facing interaction. This broad offering will enable CAA SCO to launch their service bundle quickly, with a broad range of services. Quindell is able to implement all aspects of a telematics program within 8 weeks." But it seems that QPP is so stretched on all fronts, not expecting much competition there. BTW-CCS used to be joint venture with RAC, but QPP bought RAC out in April, 2014. RAC has Risk Telematics UK-which I believe is a joint venture/or bought from Risk Technology-which does more IT/software based support instead of black box. Innovation Group(where Rob Terry of QPP originally started) does more software based telematics vs. black box. See this- http://www.ft.com/cms/s/0/a1a50edc-67ef-11e3-8ada-00144feabdc0.html#axzz3JQ9yNyfH QTX does the black boxes & all the IT platform behind it. Sorry above is a bit disjointed. My impression is that the telematics ‘space’ is constantly changing & not just a tussle between black box & handheld/smartphone. As for QTX more fleet based than individual-think so but would love to know the ratio. BTW-didn’t realize Wunelli is a telematics data services company based in the United Kingdom-thought they were an insurer-sorry. As for QTX entry price-I’ve had same problem. Don’t like to chase either. But as we said-there’s very little free float-so will be a problem getting in. ATB
Thanks for the post EJL7. I put a buy order on QTX before going to work; however it didn't execute. I thought that maybe the share price may fall back a little more today with the not so good news coming out of the G20 meeting(?) about threat to global growth so was hoping I may catch it. Didn't happen. No problem though. I have a problem with my mobile phone not being able to access my share dealing account(s) which has only just happened, can't log in for whatever reason. This means I have to wait until at least midday to be able to get internet access at the local library - not very convenient. I've managed in the past so I will have to manage now. It makes it a little frustrating that I can not take any action whether it be a buy or a sale, which is why I set a buy order first thing. It was always possible that the share would head North today, not too surprised. Don't want to chase this or any share though, so may sit on the sidelines for the time being...........or may not!. Any thoughts about any similiarity (or not) QTX may have with the telematics side of QPP and what may happen if QPP goes belly up?. Am I right in thinking QTX is more fleet based than individual car based?. Keeping an eye on this and a finger on the pulse. Good luck and regards CM
CM- Sorry for delay-have been trying to look into competition but no luck so far-will keep trying. Telematics is big but listed in the US. As for your figs-agree-good job-at 12X reasonable & could probably be pushed to 15X for P/E as you state. Just concerned a bit as I said about the 1 large customer(Wunelli)-but they are expanding both in France & US so should spread revenues more. Note this from the June '14 interim report-p. 63 "Insurance telematics sales are therefore considered as a hardware sale with relatively little scope for long-term service revenues. The attraction to Quartix of this market is essentially in the economies of scale it brings to the fleet business, the relationship enjoyed with key suppliers and the opportunity to develop innovative technology in the field of crash detection and driving style scoring which may then be incorporated in the fleet product offering."
http://citywire.co.uk/money/4-shares-the-pros-are-buying/a783822#i=5
I have been looking at some figures EJL7. Using NT figures of issue price of 116p with pre tax profits of £4.6m with a market cap of £54.10 million gives a figure of just under 12x profit. With the current share price of 153p that gives a mkt. cap of £71.757m and gives a price to profit ratio of 15.6 which is at the top end of what the NT looks for. If we then use a pre tax profit of £6.0m as you have stated then that would give a price to profit ratio of 11.95 using the present share price. If we however say that ratio goes to 15 with pre tax profit of £6.0m then that would give us a share price of 193p. NT has a target price of 180p which using the present pre tax profit of £4.6m would give us a profit to price ratio of 18.23, or under 14 if we use pre tax profit of £6m. Does that make any sense?, it's not something I have looked at much in the past so my figures may be a little shakey. Compared to many companies any or all of the figures would seem attractive. Looking at another figure, with revenue of £13.2m and pre tax profit of £4.6m does that not give us an operating margin of 34.8%?. If so, then that is pretty good. Using nothing more than a ball park figure for revenue next year of say £15m using the operating margin of 34.8% would give us a pre tax profit of £5.22m. If we apply that to NT target price of 180p then we come up with a price to profit ratio of around 16x, still not particularly expensive. If NT target price of 180p is realised it would give a return of 15% from todays value. Generally he looks for a return of at least 20%. I am not going any further with any figures here or I will tie myself up in knots, and it is mere speculation afterall!. I have been unable to obtain other figures, not being able to look at any pre float docs, so maybe you can fill me in on those. I have tried to find info on the net but with no luck. I think one of the things we investors tend to overlook many a time when looking to invest is what is, where is the competition?. We can get blinkered and think the company invested in is the market leader and is an out and out winner. There must be other competitors out there, do they offer anything better than QTX?. The existing clients I read somewhere about competition from QPP and another company was mentioned, but I can't find the link which has possibly been removed. However, if Robbie Burns has invested here at around 147p then that isn't much below Fridays close. I will have a look at the way things are going on Monday. I don't have easy access to the internet during work hours, so I will have to either set a buy limit before work and/or take a look around midday and make my mind up then. Good luck all and regards CM
Thanks for the post. Just seen it. I will get back to you with my thoughts if that is ok. Little tired to be of much use just now I fear. Re weather - very wet and windy this morning, becoming calm and sunny later (in South Cumbria). Sometimes think our investments tend to be the other way around!. Just briefly, I did notice the retrace in the share price during the day. I had an opportunity to buy in at 153p late on, but took my finger off the trigger. Like you, I feel the spread is a little large. I think it was 148-153 at the time. The spread may come down in time. The small amount of shares in free float can have the effect of not many shares trading having a disproportionate affect on the share price movement. However, don't let that put you off too much. I held shares in TRCS for quite some time with the same situation and rode the share from mid 80s to 350p before selling last month as the correction hit. Doesn't guarantee the same will happen here. I will have a look at the link posted. Thanks. Regards CM
Have read some of your posts-like your approach to AIM. I'm also watching this-was not able to get in on IPO day-too little stock around & too wide a spread. Realised too late was worth just taking the offer, so stuck waiting for this to come back. Have read thru offering memorandum-a few things stick out. Free float-30% of 46 mill.-so about 13.6 mill. shares-very tight! Out of this-Miton, Ennismore & Black Rock hold about 8 mill. So leaves very little left for us. So think spread will remain very wide as MMs will not have much stock. Company says 50% of free cash flow to be paid out as dividends-nice 30% of revs come from Wunelli Insur.-so will have to discount valuation for this. Naked says @ 116p-came out under 12X-so if they make 6 mill. approx. by end '14-at 153 about 25X. Too high for me. Take a look at this article- http://www.techmarketview.com/ukhotviews/archive/2014/11/07/quartix-rises-14-on-aim-launch I know Quindell(who doesn't these days?) so not sure about them-but worth thinking about telematics space-would appreciate any thoughts & would like to get some discussion going here on the bb. P.S. If weather like no. London where you are-you must be waterlogged!
Easily done, no worries. QTX on my watch list, keeping an eye on developments. CM
Oop my bad. Sorry.
Not me, naked trader bought in, have a read again.
"I wish I had been in at the float price but I ended up buying quite a few at 138.8 and tucked some more away around the price as I write about 147." But you just said you bought some in your earlier message. What nonsense are you talking about mate.
Thanks. I'm not invested here just yet. The share price has jumped a good deal this morning and the spread is showing quite large. Very often the share price for any share mentioned by the NT rises the following morning and then will retrace later (although not necessarily by much). Often it worth waiting a few days to get a better price. If i do miss this one, then there will be others that come along in time. Additionally right now, I seem to be too trigger happy and have made a few mistakes. After the market correction last month I have become more nervous and need to regain some confidence. I'll keep my eye on this one and see what happens. Good luck and regards CM
Welcome Chequemate, thanks for sharing the article. Yes, this looks like a njce one to tuck away, build when possible and look forward to those Dividends.
Good evening folks. I came across the following this evening when reading the NT blog: Here's a tale of two issues. Charles Dickens missed that title somehow. I examined both new issues carefully. It didn't take long for me to figure out I really wanted to buy one but definitely not the other one. They both make roughly the same amount of profit but one has floated at way higher a price than the other. Definitely not: Fever Tree. I was disappointed. The company makes brilliant upmarket soft drinks. They do an amazing tonic water. I wanted to buy shares some but.... Fever Tree made profits of £5.8m last year. It's valued at £190m at 170p. That's way at the top of the tree of a valuation for me. After all that's over 30 x profits. Now it's a great little company and the next profits will be higher than that but I think unlikely to be enough to merit the current value. Contrast with Quartix. (QTX) Profits 4.6m last time judged on half year likely to do about the same as fever tree soon and I reckon somewhere in the near £6m profit mark. Valued at 54m at 116p now 67m at 147p. Now that is more like it. Floated at under 12x profit. I wish I had been in at the float price but I ended up buying quite a few at 138.8 and tucked some more away around the price as I write about 147. QTX looks to have plenty of growth potential and I liked the way all its financial figures were in the float document. It has a small net debt but profits and revenue have risen nicely every year over the last 3. So, I have bought QTX and ignored FEVR. I've bought Quartix then on a one year view, maybe longer targetting a 50-100% increase. Patience should pay off with this one. Always a good read and worth doing some research on the back of any companies mentioned. I hadn't heard of QTX previously. Share price likely to rise tomorrow on the back of the above article. Regards and good luck CM