Member Info for Ctw2014

I can see how they might have commercial constraints in terms of saying precisely what they are earning from individual contracts but I do think they could do better on clarity, especially given the history here where they embarrassingly had to re profile their anticipated revenue over a greater period of time to reflect the reality of when they would actually be paid. School boy maths really and let a lot of investors down, including me. That makes me cynical about the company's announcements, but I think there are signs that this may now be about to come good, although it might take a long time to recover the lost ground in the share price. I like the fact that other Directors have been buying and that the new CFO has been bullish in recent interviews. I may top up prior to the results coming out but will bide my time and try to read the runes!

Mr Regan - thanks that's helpful. So, as I read that, since the last Director's share purchase was on 18th Feb, the results cannot come out before 18th April. Agreed? Truthfactory - this is not about Blur providing sponsorship/spending. It is a project to procure sponsorship for the team, as I understand it. The original RNS talked in terms of a £17m project value spread over 4 years. So it would have been reasonable to assume that Blur would generate commission of about 20% of that figure over the 4 years plus the listing fee. However, typically for Letts/Blur, the latest announcement creates total confusion about the revenue generating potential of this project, because he now talks about a '£17m sponsorship target' ! I cannot see how the £17m can be both the project value and a sponsorship target. The team would not be spending £17m to raise £17m. One would assume that if the team are paying someone £17m over 4 years to raise funds for the team, the sponsorship target would be a lot more than £17m! Alternatively, and perhaps more likely, it could be that the aim is to raise £17m in sponsorship over 4 years, in which case the project value, in terms of what someone will be paid to raise this amount, will be a lot less, as will Blur's revenue! If the latter is correct, then the original RNS was misleading, and this recent announcement is attempt to correct that (as well as to announce who the team is). If the former is correct, then Letts' reference to a £17m sponsorship target is confusing to put it mildly. Typical of the lack of clarity/visibility on revenues that Blur seems so good at!

More buys showing as sells today, or at least that's how it looks to me. What's going on? Have written to my broker about it asking for an explanation. This kind of mis reporting cannot be helping the share price here.

Ok, many thanks

.... Nice drilling results on the website.

Well spotted. Can't understand why buys show up as sells but agree they must have been buys. Good luck to you too.

Thanks for that. Do you know when the closed period ends?

It's hard to argue against the fact that this has been on a downward trend since floating although, as it's been dead flat for a couple of months, maybe that trend is over. We will see. Certainly, given that market cap is only about a third of net assets, I cannot help but feel that this should bounce on positive news and greater publicity. I realise we have been seeing a number of sales lately, but somebody has to be buying those shares and I wonder if that someone is quietly building up a nice stake bit by bit. Yep, still sitting in the fence re Nanoco.

Blimey, it is all doom and gloom over there isn't it? The views aired might be well meant although it is always a bit surprising to me that people who are not invested expend so much energy to try to save us from ourselves (or talk down a share?). For what it's worth, here is what I think: 1) tidal energy is a no brainier and infinitely superior to unsightly and unreliable wind power; 2) this is a Nationally (even internationally) important project with significant Govt backing and too important to let fail; 3) the Maygen site has been chosen precisely because of its strong tidal flows - it's extremely improbable that the engineers involved will have underestimated these flows (which are entirely predictable) in the design of the turbines and anchoring systems (essentially great big weights) - and storms are only a problem for surface vessels, not equipment installed at depth below the wind and waves (think submarines); 4) If the recent favourable report was part of a conspiracy with Morgan Stanley to plump up the price to enable them to exit at less of a loss as alleged, then it has failed miserably as the price has not moved; much more likely in my view that MS see that the company and share price is undervalued and will be prepared to wait for the market to realise this so that they can get a return; 5) If people want to call me a mug for holding this share then good luck to them. Ultimately this will I believe come good and Is likely to be driven by positive news flow in due course. Just my opinion of course.

Toscafund Asset Management buy 5.8%

.....has been a bit lack lustre lately, but this has held up fairly well.

Just tracking the gold price. If that resumes its upward track, this should follow IMO.

I don't have an answer to your question but thanks for the interesting and reassuring post which puts a lot more flesh on the bones of my rather more simplistic analysis!

Two Non exec directors have bought some shares which bodes well and supports the view that the upcoming results will be favourable IMHO.

Always helpful to hear comments from someone who has put the time in to speak to the company directly. I just hope that Chris is as good at delivering as his bedside manner! One thing which would help a lot is to get the factory built. Notwithstanding the excuse of poor weather, it does seem to be taking an age to get the thing built. Earlier on Chris was stressing how good having the factory would be for the bottom line. Lately I saw a post (possibly yours?) which seemed to down play its importance by quoting Chris as saying that it only adds a few Euros per square metre to process the marble in Italy. The delay, plus the slow sales, are holding this back. Fix both of those and this should fly.

No harm taken. I suspect we are more or less in the same boat. I am tempted to top up a little too, to average down, but I think I will wait and see what the price does over the next few weeks first. Can't see the results coming out for a while yet.

I wouldn't say no chance of a fall! Indeed I wouldn't be at all surprised to see a drop back from recent rises in the short term, but if the results are good (as recent announcements suggest they should be) then I would hope for a decent rise on the back of that. The risk Is that the results disappoint but I would hope that the new Finance Director would have more sense than to talk things up and then fail to deliver. The results may take a while to get out but they will already know how the ground lies.

My guess would be that the price is still finding its new level after the latest RNS. Investor Relations have now confirmed to me that they do not notify in advance the anticipated date of the publication of final results. That will be the next trigger for a further rise in my view.

To this share after a long absence. I have always liked this brand and think it has potential. Price looks to me as if it has turned the corner. Lots of good prospects I feel, including China and the range of new products. Only downside for me is the increased pension deficit but, reading between the lines, it sounds to me that this rather technical calculation will be revised favourably as trading and prospects improve. Final results announcement due on 6th March. Recent upbeat trading announcements suggest these should be good and give the share price a boost. No dividend in prospect while there is a large pension deficit, but I would hope for decent share price growth from the current level.

As far as I can tell, CEO Rankine holds only £11,250 worth of shares at today's prices having bought a mere £813 worth (at today's prices) in September as part of the placing. Such a trivial top up doesn't exactly inspire confidence and suggests to me that the Directors are happy to draw their salaries (which to be fair are not excessive) but do not have sufficient confidence in the company to risk much of those salaries in investing in it! I suspect there will be another diluting fund raise before anything much happens here, sadly, and I don't get the sense that the BoD has much of a sense of urgency about getting this thing moving any quicker. Having said that I will hold my small share holding until it either comes good or reduces to nothing!