Member Info for Dartron

According to interims, net cash assets were
Sorry meant
According to interims, current cash assets were

Hi Jolly, yes there are better out there, but H1 produced around 3.7m operating profit (removing the covid grant).
If we double that, then we are looking at 7m operating profit. According to interims, net cash assets were circa 50M.
Debt was about 30m + 30m retirement. Depends whether retirement should be used in EV?
Market cap 20M+ 30M debt = 50/7 = 7.14 or 20M+30M+30M = 80/7=11.4

What we dont know, is what the Ebit will look like for year, and what the EV will be (if more debt is repaid).
Not sure what multiple to then use for Ev/Ebit, for a global manufacturer?
The non current assets PPE look quite high, dont know if they own buildings etc?
At 20M market cap, I feel this is a good entry point for a global manufacturer.

Not sure what you mean by 'quality' of ebit??

Seems Biosynex has a similar market cap to NCYT, but yet has form for buying other companies to take market share - the purchase of Avalun. The difference seems to be the enterprise value, which due to the cash NCYT have, makes them far cheaper than Biosynex. NCYT currently has a slightly larger market cap than Biosynex.

Looking at it, NCYT seems to be the bigger fish here?

It would be Q4, and I was expecting it last week.

I have been looking at this and watching interviews. I see some interesting ideas, but seems a bit disjointed with coal, gold and clean power. Hard to tell what the overall strategy is - admittedly early days of research for me. What valuation would the gold resources attract if sold to focus on the coal and clean power? Doubt this is being shorted.

Thanks Viable, Wasnt aware of Delt. I will keep an eye on SOUC, but that isnt north sea. I know of Kist. I have sold my SQZ, only because I was trading it very well in January, and thought it would pull back again but maybe not! Its close to Jefferys brokers note at £3.80. (I think SQZ will attract a lot of uninformed investors and will get played by the big boys).
It may be a bit early, but I have been looking at the recent PR from ORCA who will be north sea. Recent IPO, sub 25M mcap. I also bought some OEX who have just been granted to switch back on Cambay in India at 14M mcap.

I am very comfortable with my JSE investment, and not tampering. I got some more in the drop last week. But I am closing / reducing other positions in non O&G to increase my exposure ideally to producers or very near term producers.
The north sea is of particular interest.

Sorry off JSE topic.

I sold out of IQE as they have built a semiconductor fab and moved business to Taiwan. That said, if anything happened I doubt it would look different back over in the west. I would buy if something happened and IQE dropped to 10p. Lots of companies have places in China (the funniest one being Bakavour who produce food in Wuhan).
Anyway, all this is for BVC is a sales outlet, a chance to sell product. It would be different if we had recurring revenue already baked in to the share price, then yes maybe there would be something at stake. Lets hope world peace prevails and we can all just go about our business - what ever that might be Flatcap.

Hi Viable, would you mind saying which ones those are please?
I guess SQZ, IOG are 2 of them. Be interested to look at them.
I have I3e, JSE, SQZ, SAVE & EDR as producers. plus half a dozen explorers etc.

Id say most of the rally has already happened. I sold mine hoping for a retrace.

Hi, I only scanned the last trading update, (because I look at many stocks). But I dont think WIX is very cheap.
Wix is a good price, it looks like the company has no debt, so the EV is the mcap. 416/83 = 5 (EV/Ebit).
This is good, but its not exceptional, and can be found in many other stocks. of coarse there are many many stocks worse than this too! Victoria Plum has comparable Ev/Ebit, but being a smaller mcap may increase in SP faster (or get bought).

Really, wix represents a good entry now. Its not going to rocket back up from here, it is fairly priced in the current climate.
I cant see any catalysts upcoming for the DIY sector, in fact as discretional spending I think it will get cut.
I wouldnt be buying any retail stocks given the squeeze on peoples incomes this year. Though it might be worth buying a few more Culpepper as you obviously like the stock and need to get your average down. Keep some dry powder in case it gets a little worse.
FWIW, this was probably shorted down to this 'fair' level by hedge funds etc.
Just checked and yes it was. - https://shorttracker.co.uk/company/GB00BL6C2002/
How kind of Marble Bar Asset Management to correct this pricing anomaly for us.

I bought some more at 17.90, but id like to see 17.5 which is 6% yield. I can get my last top up then and have a nice round number of shares. Looking a the daily chart, I think we will get support from the 50MA at 17.30.

Hi Trek, I have had GLO on my watch list for at least 12 months, as you have mentioned it before. Seems to have declined for the last 12 months or so, but I dont know the storey.
DLG and HAS (and HIK), have excellent charts for some growth due to SP reversals. I will keep an eye on GLO, as it could reverse, but the decline has been more gradual, where as the 3 I mention have sharp drops ad I think they could bounce.

Thanks andsoon, I like the look of Ferg - again for a share price reversal. Will research.

That is still another £1 from where we are today. Lots of upside here I think, just looking at the chart.
I have also bought HAS which has a very similar chart, lots of cash and is doing buy backs if anyone interested. There should be a special div in the summer, around 10p from memory - DYOR. (HIK same situation too, but a lower yield).
I like shares with buy backs - any other good ones?

When the boss was interviewed in Investors chronical, he ruled out a large dividend. That was before the Ukraine invasion in January. That is where I got the tip from at about £2.40. Wow remember those days.
20p would be about 6% yield at £3.50 SP, sounds about right. Direct Line Plc is also yielding about that as a final div, if you are quick. (2.60 / 15p), so fairly standard.
Another oil comparison is I3E, which at todays share price of 20p yields about 5.25%
Having bought in SQZ at £2.40 (as per the IC tip) the yield at 20p looks more like 8.3%, though I have also traded this.

They should carry on with the buy backs and this time cancel the shares.

Thanks, so in essence, no effect as the money is building up in an account and can just be handed over. There wouldn't really be any change day to day if the sanctions were lifted, however an opportunity for SQZ potentially.

PS, sasa43 hope you got out of POLY. I remember you were there at one time.

Hi, I didnt realise that Rhum was 50% owned by the IOC. Can someone explain what is currently happening due to sanctions, and what would happen if they were lifted please.

Why is crude dropping 10%. What did that 1M seller know that we didnt?

RNS wasnt showing

https://www.investegate.co.uk/sigmaroc-plc--src-/rns/notice-of-results/202203080700089425D/

Two ships refused to be unloaded in the UK of Russian O&G.
Liverpool:
https://www.bbc.co.uk/news/uk-england-merseyside-60631735
Kent:
https://uk.investing.com/news/stock-market-news/uk-dockers-refuse-to-unload-tanker-of-russian-gas--union-2598107