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Good result today. If cash generation continues as it has get debt of 40M odd will be paid off in no time.

Beyond a joke now. Don't get anything for being a loyal shareholder. Been here over a year and down around 20%. Despite adding. What ****es me off even more is some people will come in now and make a 20% profit before I even breakeven.

10% down on total holding that is.

Only 10% down (again). Come on SDX!

Additionally, to this research. I live in Oxford and the Joules shop there (which recently opened in October - Westgate, Oxford) always seems to have customers in it. Additionally, to this, what I believe is very important is its location, right next to a John Lewis, Primark, Next, Russell and Bromley, Charles Tyrwhitt, T.M. Lewin etc... The nearest competition or similar style clothes that I would say can compete (In Oxford) is FatFace, however, Fatface location is not great, now that the Westgate has opened! The point I am trying to make is that the location of the Oxford branch is strategically positioned. I myself have been into the store, in Oxford; the customer service is good, the clothes appear to be well made, a lot more female customers over males (but hey, don't females spend more and drive the retail economy more than males anyway - poor banter, I know), I have also been to their outlet store in Swindon, which again, is positioned close to a Next, M&S, Monsoon, Clarks etc... and the prices there are still reasonable (considering it is an outlet), which to me, indicates they arent throwing their stock away just to increase revenues, like other companies do! - They have a strong brand, which going by its Christmas trading update is only increasing in recognition! All in all, to me, it seems like the Joules team (CEO etc.) don't just randomly pop up stores anywhere, they are strategic in picking their locations and look for other popular businesses nearby to add value to them. Additionally, to this, their online website is easy to navigate around and offers a fresh and bright approach, as opposed to the boring dull difficult to navigate around websites that compete with them. This looks an interesting company and based on the financials, I will be doing additional research into Joules (AIM: JOUL). Good luck all, hope you're all well, hopefully, speak soon.

Note: (1*/2**) refers to other parts of the article or important information to consider. - I hope the following post is useful and is clear for all to understand (This may be clearer on a desktop version, rather than mobile!) (1*) The article mentioned that, Marks and Spencer (MKS), Debenhams (DEB) and Card Factory (CARD), were some of those that struggled over the Christmas period* (2**)IFRS-16, the brainchild of the International Accounting Standards Board (IASB), provides guidance on how companies should �recognize, measure, present and disclose� leases in their accounts. The definition of a lease is broad, and refers to a contract that �conveys the right to control the use of an identified asset for a period of time in exchange for consideration�, although exclusions are made for leases where the term �is 12 months or less or the underlying asset has a low value�. Chief financial officers need to get their ducks in a row soon: IFRS 16 comes into effect for all annual reporting periods beginning on or after1 January 2019** March 2nd, 2018 - By Harriet Russell & Jonas Crosland 'Retail's Big Property Gamble' "Look at the recent slew of Christmas updates from Britain�s retailers and some clear themes emerge. Consumers are under pressure from rising inflation, online shopping is only growing in popularity and UK high streets look ever more like the desolate wastelands of the once-prized retail giants" (1*) "Market newcomer Joules (AIM:JOUL) operates a similar model (to Shoe Zone: SHOE). As of 28th, May 2017, future minimum lease payments under non-cancellable operating leases totaled �65.1m � that�s against a current market capitalization of �277m � with the bulk, �34.7m, falling between one and five years. Encouragingly, in terms of the flexibility of its lease estate, only �20m-worth of its leases date beyond the next five years. It also chose to purchase the freehold for its new head office � decision analysts at Liberum believe �makes total sense� in light of the introduction of IFRS 16 (2**). In Liberum�s view, the transaction �fully brings the financial benefits of ownership on the balance sheet� and comes with the bonus of being �earnings accretive in outer years�. "The question is, will companies with extensive, aging store estates start to do business differently? If the answer is yes, this could have a knock-on effect on the commercial property sector as landlords try to accommodate more lenient and flexible rent arrangements".

January 31st, 2017 - By Harriet Russell 'Joules Steams Ahead' A Christmas trading update earlier this month hinted that things were going well for clothing chain Joules (JOUL), but another round of analyst upgrades suggests the market was pleasantly surprised by these half-year figures. Analysts at Liberum had already pushed through an earnings upgrade of 6 percent on the back of the Christmas numbers � sales rose by a fifth � but chose to crank-up annual forecasts by another 3 percent again in response to this performance. Liberum now expects a pre-tax profit of �12.5m for the year ending May 2018, giving EPS of 11.4p, compared with �10.1m and 9p in FY2017. Admittedly, these numbers only go up until the Black Friday weekend but combined with the Christmas update it shows that there was no let up in trading activity through the festive season, whereas the performance of some peers was decidedly patchy. This relative resilience is unsurprising when you consider that active customers have grown by 55 percent the past three years, outstripping store space expansion of 23 percent. This suggests the company has managed to grow its customer base successfully via its online and wholesale channels. In fact, the wholesale business in the US is really starting to take off, helping international sales rise by more than a quarter to represent 11.3 percent of the group total. IC View: Even the gross margin nudged ahead, something other retailers are finding increasingly difficult to achieve in a competitive environment. It comes down to Joules� disciplined approach to inventory management, store expansion, and its favorable terms with suppliers � all things which help justify the shares� 28 times forward rating. Buy. Last IC View: Buy, 303p, 26 Jul 2017

*Continued* So, with the energy division�s cash profit margins on the rise � finance director Stephen King revealed to me that he sees potential to target a mid-teens margin in the longer term � I feel that an enterprise valuation to cash profit multiple of 10 times, representing a 20% discount to the sector average, is attractive. I have a target price of 275p. Buy. No position here, as of yet, but looks interesting. Thought I would post for shareholders to read...

Investor's Chronicle ' Playing by the New Rules' 09/03/2018 - 15/03/2018 Simon Thompson posts the following; 'Avingtrans on course' "The shrewd management team at Aim-traded Avingtrans (AVG:230p), a maker of critical components and services to energy, medical and industrial sectors and a constituent of my 2017 Bargain Shares portfolio, has been working its magic on last autumn�s acquisition of heavily indebted specialist engineer Hayward Tyler, a supplier of motors and pumps to customers in the nuclear, power generation and oil and gas sectors. They have already made �2.5m of annualized cost savings by removing duplicated head-office costs, restructuring the business and through natural wastage, and a further �1m of savings in the supply chain. This explains why analyst David Buxton at broking house FinnCap expects a sharp turnaround in Hayward Tyler�s performance, penciling in a second-half operating profit of �2.4m, a marked improvement on the �1.1m loss in the first half to end-November 2017. There is substance to his forecasts as Hayward Tyler has profitable operations in Vermont, in the US. There it is a top-rated supplier to the nuclear industry, providing a new geographic location for Avingtrans, which has a strong position at Sellafield where it has a lucrative 10-year contract worth �47m to provide waste storage containers for the Cumbrian nuclear power station. It�s been winning new business too, including $10m-worth (�7.2m) of contracts from Korea Hydro & Nuclear Power since the autumn. Moreover, the full benefits of cost savings will be seen in the 2018-19 financial year, when Mr. Buxton predicts Hayward Tyler can add an extra �2.3m in operating profit on annual sales of �64m. The US business will pay less tax too following the US government�s cuts in corporation tax rates. The contribution from Hayward Tyler and a solid performance from Avingtrans� existing businesses, which increased revenues by almost 15% in the first half, meaning that the company is on course to produce adjusted cash profits of �5.7m on revenues of �80m in the 12 months to end-May 2018 to lift pre-tax profits sevenfold to �2.2m. Moreover, after factoring in a sensible-looking 20% hike in revenues in the 2018-19 financial year, and taking into account further efficiency gains, FinnCap predicts cash profits could hit �8.1m next financial year to deliver pre-tax profits of �3.8m, about �400,000 higher than previous estimates. In other words, expect EPS to more than double from 4p to 9p. Shareholders can also expect a full-year dividend per share of 3.6p, rising to 3.8p in the 2018-19 financial year. So, with the energy division�s cash profit margins on the rise � finance director Stephen King revealed to me that he sees potential to target a mid-teens margin in the longer term � I feel tha

BeingTheBanker; if anything, I would say you were being cautious, which is the right stance to take. Shares go up as well as down, raising 21.1M (USD). Personally, I'd like to know what they're doing with the additional 6M (USD) they are raising if their expenditure comes to 15M (USD) and they're raising 21M (USD), which is an additional 40% from what they need... Granted they may need a little extra around 10-15% but where is the rest of the capital going? Simon has highlighted when he originally said to buy the shares, which have easily doubled since 8p. My view is simple; dependent upon how the rest of your portfolio is performing, and how heavily based your portfolio is to a specific sector I.E Retail, O&G etc.) would depend on if you should take up the offer here. If you have been here since the start (when IC recommended), and have followed their advice, you should've already banked a good 75% of your original investment, if not more... Whatever decisions you all make good luck, stay safe and speak soon.

Investors Chorincle ' Playing by the New Rules 09/03/2018 - 15/03/2018 - Simon Thompson comment. Sylvania Platinum�s Profit Surge "Sylvania Platinum (SLP:16p), a fast-growing and low-cost South African producer and developer of platinum group metals (PGMs) platinum, palladium and rhodium, has issued interim results bang in line with my expectations when I included the shares in my 2018 Bargain Shares portfolio. The company has two lines of business: the re-treatment of PGM-rich chrome tailings material from mines in the North West Province; and the development of shallow mining operations and processing methods for low-cost PGM extraction. Its dump operations comprise seven active recovery plants that treat chrome tailings from mines across the western and eastern limbs of the Bushveld Igneous Complex. These businesses are doing rather well. Buoyed by a near-20 per cent increase in the average basket price of $1,057 per PGM ounce, more than offsetting a $100 per ounce year-on-year rise in cash costs to $526 per ounce, Sylvania�s revenues surged by almost 15 per cent to $28.2m in the six months to end December 2017 to boost pre-tax profits by 19 per cent to $7.9m. There are decent trading prospects for the second half, too. A relatively high Rhodium content in the PGM concentrate means that the company is benefiting from the 70 per cent surge in Rhodium prices in the past six months, and second-half production guidance is for between 37,000 to 41,000 ounces (oz) of PGM, up from 34,000 oz in the first half. So, with Sylvania�s enterprise value of �35m equating to a miserly 2.5 times annual cash profits, highly cash-generative operations and a debt-free balance sheet, I reiterate my buy advice." No position here, as of yet, but thought I'd post for shareholders sake. Good luck all, stay safe, speak soon.

Simon Thompson - Investors Chronicle 'Playing by the New Rules 09/03/2018 - 15/03/2018 Chariot’s equity raise "Aim-traded Chariot Oil & Gas (CHAR:15.5p), an oil exploration company with activities in Morocco, Namibia and Brazil, is raising $21.1m (£15.1m) through a placing and open offer at 13p a share, primarily to drill a well at Prospect S in Namibia in the second half of this year. The field has an estimated gross mean prospective resource of 300m barrels net to Chariot, and a potential 1.4bn barrels net in other prospects within this licence. Having captured the bottom of the seismic market, Chariot’s board has decided to accelerate drilling plans and take advantage of low prices in the rig market as the industry returns to exploration. Pre-emptive funding and firm drilling commitment would then enable the company to enter partnering discussions from a position of financial strength and at a commercial advantage. It's worth noting that oil giants oil giants TOTAL and ExxonMobil have both entered farm-in deals in Namibia since the autumn. In turn, this should maximise the retention of licence equity and ensure that its wells are drilled at the optimum point on the cost cycle. Chariot's 65 per cent share of drilling the Prospect S exploration well accounts for $15m of the $21m funds being raised. Chariot also has a 10 per cent equity interest in the Rabat Deep permits, Morocco, which holds an estimated 768m barrels of gross mean prospective resource. The company has partnered with oil giants Woodside and Eni, recovering all back costs and securing a capped carry through drilling. Saipem 12000, a sixth-generation ultra-deepwater drillship, has already commenced its mobilisation to drill a well on the Rabat Deep permits. It should spud later this month. I first advised buying Chariot’s shares at 8.29p in my 2017 Bargain Shares portfolio, top-sliced two-thirds of the holding at 17.5p ('Bargain Shares on a tear', 3 April 2017), and last advised running profits on the balance, at 22p, ahead of news of the Moroccan drilling (‘How the 2017 Bargain Shares portfolio fared’, 2 February 2018). The share price has since dropped to 15.5p on news of the fundraising, a harsh reaction given that it could easily double or more if either the Rabat Deep or Namibian permits hits pay dirt. In the circumstances, I would use some of the profits you banked last year to take up your allocations in the open offer, which is being made on the basis of one new share for every eight held at the record date of Friday 2 March. Take up". No position here - but I thought I'd post the article for people to read.

https://www.youtube.com/watch?v=wck4hhpC0qM SO MUCH news expected over Q2/Q3 2018 which could (I will refrain from saying will - and seeming too optimistic) drastically change the SP. The fact that the SP is still below 50p is ludicrous, in my eyes. Being an SDX shareholder has been frustrating for the last year, but I am confident that the long wait will be worth it in the next 6/12 months. Good luck all, stay safe, speak soon.

Additionally, I emailed the company a while back about setting up a Twitter page - which I am impressed to see they have done. A modestly small following, but at least they are updating shareholders via alternative methods of communication, and the team over at Strix seem to be proactive in responding to emails etc. Good management and communication are imperative when a company goes public, and it is nice to see that they are responding to emails & notifying shareholders. Take a look here: https://twitter.com/StrixPLC?lang=en

Looks good. Reading reviews on Amazon etc. for their products and most customers appear happy with the products and feel they are also at an affordable price. Looking promising.

Investors Chronicle cover of Strix (AIM: KETL) January 29th, 2018 - 'Strix warming up nicely'. "Isle of Man-based Strix (KETL:149p), a global leader in the manufacture and design of kettle safety controls, is on course to deliver a 5% increase in cash profits to �35m on revenues of �92.6m in 2017, as analyst Andy Hanson at house broker Zeus Capital predicts. The hefty profit margin reflects Strix�s commanding global market position, controlling 39% of the market by volume and 50% by value. Furthermore, with cash generation effervescing, borrowings are being paid down faster than analysts had predicted. Mr Hanson predicts that net debt has been cut by �10m to �48m since last summer�s IPO, and is set to fall to �32m by the end of 2018 based on free cash flow of �24m being generated. That�s great news for the dividend, especially as the Isle of Man tax-free base means the company retains all its profits. Zeus forecasts a dividend of 2.9p for the five months the company was listed last year, rising to 7p a share in 2018, covered 1.8 times by adjusted EPS estimates of 12.4p, and two times by reported EPS of 14.7p. So, having suggested buying the shares at the time of the IPO (�Tap into a hot IPO', 7 August 2017), and raised my target price from 150p to 165p in the autumn (�Engineering gains�, 2 October 2017), on 10 times reported EPS estimates for 2018, and offering a 4.7% prospective dividend yield, I remain a buyer ahead of the results on Thursday, 22 March 2018. Buy". When this was covered, the SP was at 149p, a slight pullback since then, with the SP dropping to around 137.20 (now) this is looking cheap. with a target range of around 150p - 165p that would give a respectable profit yield (from the current SP of 137p) of between 10% - 21% (not including dividend payments) Looking to add to my position here, after the FY results are published on 22/03/2018 (provided they are positive) - I doubt there will be too many people actively watching this share, so it could be a good opportunity to accumulate a healthy holding, especially considering around 66% of the shares outstanding are in II's hands, accounting for a low free float available to PI's. Good luck all, stay safe, speak soon.

Investors Chornicle (IC) - Simon Thompson - small cap buying opportunities - Simon, did a very good cover of FPO last week. 12% discount from NAV (when he was writing at 45p). That seems to have closed up nicely since the issue. Still, looks a very good company here. Well done all who have spotted this and are in on the rewards. I shall be doing additional research over the coming weeks. Good luck all, stay safe, speak soon.

Boooomshakalaka

Usually published late March.

Think some are waiting for FY results to come through to get a better picture then will see it rise after, hopefully.