Member Info for Dartron

I did some investigation, 68.73% of these shares are in tight hands. No TR1 since large volume, so assume those are still held. I think the stock is just returning from over bought, most likely the market operators who were buying are probably trying to dampen enthusiasm somewhat, if they want to buy more. The price is now back to the 100ma so order has been restored. I think I have bought 4 times now and am holding each purchase, as my timeframes and rewards are typically on a longer scale than day trading.

The company website says HY results February 2023, so we should have a better picture of the bottom line very soon.
Note, as far as I can tell, this seems a similar product to that offered by TPX Impact? (I find digitising this and that very vague). TPX was valued at a much higher price, over £100M, but suffered from problems of its own doing by going on an acquisition spree and failing to integrate properly. However, if you look at the trading statements for TPX impact, there is plenty of work available (government contracts). I have a few other shares in this mcap / share count, with similar bullish prospects, and they are 'totally' dead. The buying interest here is unusual I would say. Not your typical traders stock.

https://investors.madetech.com/

Bought some back yesterday, sold at 32p bought at 29.6, happy with that.
Reading the other board, there was a suggestion that the buy back may have had to stop if they are in receipt of price affecting news. I have heard that before, but never researched it. I think the next RNS is going to be good news, whether it is in 1 week or 1 month. I could buy a few more if we drop further and get my full clip back which I originally bought at 24p. Im going to trade this stock this year, easy if you are not attached to the story here, which admittedly is quite promising. Come on Nutmeg, time to throw your money in the ring!

I wanted to ask you Jolly, why you would even to buy at 7.5p. What do you see as upside.
Even with the sales level, the cash is decreasing: Cash at 31 December 2022 was $5.6 million (31 December 2021: $11.2 million). If the burn rate was the same then that wont last another 12 months. Plus they have some debt.
Best thing for this would be a buy out, but you might not make much profit at 7.5p IMO.
Juniper and Jens, have so much cash there must be good reason why they dont want it. I'd guess the staff / development costs must be huge for this, in an ever evolving tech environment. I have no intention of bailing them out.

I read somewhere that energy from waste projects can use large castings.
Also wind turbines - the actual turbine part (housing?). Remember these guys used to make Turbines for Borg warner then lost the contract.

Not worried about cash, as they have Petrel lighting contributing cash, and Ember cookware. They could sell either if they needed to, in order to focus on RDC.

Be great if it were a green energy project, or national infrastructure. That is my hunch.

TU update 5th December, issue with litigation business. Share price drop. Substantial BOD buys since (£250k ~69p).
Numbers in IC article 2nd to 8th December (50/2022) out of date due to TU. Same for previous ST write up in September.

From the TU - 5th December

Dividend
As a result of the strong performance in the professional service businesses, the Group intends to announce as planned a second interim dividend for the twelve months to 31 December 2022 in its full year trading statement in January 2023 in line with its policy of distributing up to 60% of retained profits.

Outlook
RBGLS continues to trade robustly and Convex has a strong pipeline of deals which remain in process. As a result of the case losses in LionFish, the Group now expects adjusted EBITDA to be materially behind current market consensus expectations for 2022 and in a range of between £11.0m-£12.0m.

Ideas of the year IC 6th to 12th Jan (Issue 2/2023)
Price 82p, Fwd PE NTM 7, FWD DY NTM 7.7%, FCF NTM 8.2%, Ebit Mgn 12.2%

Six High Yielding Small caps IC 2nd to 8th Dec (Issue 50/2022) - similar numbers as above.

Master Investor write up:
https://masterinvestor.co.uk/equities/dwf-group-an-investmet-case-for-legal-outfit/

There are some 325m shares in issue, with the group’s Employee Benefit Trust being the biggest holder with 9.18%.
Other large holders include Premier Miton (5.84%), Cartesian Capital (5.48%), Abrdn Investments (4.75%), Sand Grove Capital (2.97%), Legal & General Investment Management (2.52%), Link Fund Solutions (2.48%) and Columbia Threadneedle Assets (1.42%).

(broker view) Their estimates for the current year to end April 2023 see revenues of £387m, adjusted pre-tax profits of £45.9m and earnings of 10.8p, together with a 5.4p dividend per share. For the coming year £430m revenues could see £54.2m profits, 11.9p earnings and a 5.9p per share dividend.
Master Investor rating - However, now at the current 76.75p and trading on a 7.1 times pe and yielding nearly 7%, I really do rate the shares as substantially undervalued. For early 2023 I am setting a new and very easy Target Price of 100p.

The many acquisitions seem to have failed to integrate together, increased over heads, and also dilution to the share price. Last time an acquisition was made "Swirl" and "Peak indicators", so Peak cost (cash and) £2.11m being satisfied through the issue and allotment of 938,888 ordinary shares and Swirl (cash and) £2.0m being satisfied through the issue and allotment of 888,888 ordinary shares. Doing the sums on the deal, this valued the share price at £2.25p. Today it is 41p. Not to mention the acquisitions were supposed to be "immediately earnings accreditive" Yet TPX reported a loss in its last interims, and lower revenue (extrapolating for the FY) than was touted when the deal went down. Those 2 acquisitions also added 65 full-time staff members to the payroll.

In all honesty, I wouldn't be surprised if the £6M cash was running dangerously low now, and rather than print some new shares for the next acquisition, its more likely those shares get printed in the form of a placing. Further backed up by Oliver Rigby's actions of selling the wads of shares he bought, when he was trying to lift the SP after the last profits warning. Rigby sold well over a million shares "due to strong II demand" which is total bull, that there would be such demand for a company failing to make any money. (He literally dumped his stock off a recovery bounce, partly caused by his pumping). The only hope here is that they announce a large contract, but maybe TPX is too disjointed even for that to help.

I'm bullish on this, but I dont think it is being held back. Recovery is going to be slow here, and really it is lack of liquidity that is affecting the share price. My thesis is that this will go like the good part of HARL. They will announce a large contract, and the herd will arrive and this could pop to 12 - 16p easily. If we are talking about the realistic future of the company, I would say go and watch the November Proactive interview, where the CEO says recovery is expected to take at least a year, i.e. late 2023. By that point the company should be more cash generative. That is my timeline here, at least 1 year.
https://www.proactiveinvestors.co.uk/companies/news/998838/chamberlin-plc-left-no-stone-unturned-during-return-to-profit-998838.html

Dumped mine this morning, you wont beat MW. They are also masters at trapping people, look at those 2 spikes this morning. If it has broke 2.50 then it will at least hit 2.40 IMO. Also the duration of MW is very early days, this could drag on for weeks. Learnt the hard way on Ceres power.

Here is a nice tool for you. According to Google, there are approx 400 foundries in the uk. Bear in mind most of these will be specific purpose, like drain pipes etc. However, if you check out the cast metals federation, you can perform a search on casting weight. Russel Ductile, is one of 10 in the range of 5T to 10T. (they state 7.5T on their website). If you go up to the next level, over 10T, then RD are not on the list, but there are only then 5 players. So the point I am making is that RD is one of only 10 foundries in the UK that could make a large >5T casting. For this reason, I would say that the foundry itself, must be relatively important to the UK as a whole, being one of only 10. Go up to the tier after, and it drops to 3. RD, list all their capabilities, like CAD, Magma (cooling modelling), ISO certification, Lloyds shipping register.
Its a yes from me.....

https://www.castmetalsfederation.com/cmf-members/foundry-search

Disappointing that they stopped buying back, is it now fair value according to BVC?

My TA if interested
https://twitter.com/DartronTrading/status/1615332380176224259?s=20&t=ShUMCZNrlFXeLqleQtTUsg

Not had a chance to read it yet, though its obvs lower revenue. I sold last week at 9.26, due to price action. I think the 'market' knew what was coming. Have to wonder, with the company being so old, and not breaking through by now, or being bought out by Juniper, or being taken back private by largest share holder, will it ever?

Nearly 1M shares traded today, May see another TR1.

DWF doing my head in. I keep buying, cos this is going to break out. I wont have it any other way. I just keep buying and waiting. 90p coming. There is also a 1.6p Ex-dividend on the 6th Feb but I hope its broken out by then. Yawn.
For non investors chronical readers, this was in the top 3 tips for small caps of 2023 (I had already bought, but pleased to see that). Also holding KGH and RBGP as other legals. KGH results next week, might be the catalyst here, they should be good as huge buy from Ceo recently.

Well, we had the notice of interim results, and now we have had the confirmation of interim results for the 25th.
These results must be very good, if they have announced them twice. Looking forward to it.

Phew, what a relief Nutmeg, you finally made a profit on BVC. Yeah, I have just sold too - +33%, I sold because I am not happy that the buy backs only managed to purchase 5M shares, then stopped. Yet, CEO was 16M share options. I make that a net dilution of -9M shares (2%). Since dividends are not possible here due to tax, it was vital that the buybacks were used to increase shareholder value. Glad to pinch back some money I lost on BVC in 2022, will watch for retrace now.

Didnt know about the tip, sliced a few at 116, as I thought it was getting away from itself.
Expected it to drop 6p after ex div, but it might not now. Still happy, was in originally at the year low 89p (traded that for profit and rebought at 93p). PMI done great for me, all since November.

Hi, I still think the supply scenario you mention is unlikely. In the majority of cases for general retail, it is the buyers that have the control not the suppliers (especially for unbranded goods). If you are reliant upon Topps sales for 15% of your revenue, are you really going to be able to play hard ball, or even want to object? As long as those orders continue, why should you worry. I would of thought there must be plenty of suppliers that could also fill the void if one supplier dropped out. I bet there are plenty of suppliers of high volume all round the world. MSG may have other contacts that Topps do not. I dont see this as a big issue, the sourcing of product, however im no expert, so your point is one to consider.
As an after thought, if this scenario were to be an issue, MSG could already be sounding out other suppliers, and may therefore have a contingency?

Check this link, Some of the top 25 producers. Mexico, Brazil, Spain
https://ceramicworldweb.com/en/economics-and-markets/worlds-top-ceramic-tile-manufacturers

Barclays raises Liontrust Asset Management target to 1,300 (1,180) pence - 'overweight'