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tricky one. The figures look great but the market is jumpy at the moment. From my perspective the post RNS sp is not attractive enough to tempt me with a T trade, but I guess it makes a good long term hold.

The last RNS was to announce a delay to results - perhaps the leak is that funding has been sorted out.... A bit too risky for me, and off-putting that it's been ramped abusively and aggressively on advfn thread.

Hi Jonty, HCL rising v. fast today. I almost took an account trade today but am a bit overstretched at present. you in on these?

there's a bit of negative market sentiment today on a macro level with indications that US inflation is set to stay, and the BofE likely to increase interest rates. According to Reuters this is weighing the market in general down. Perhaps we should bake some of this sentiment into the appraisal of the IEC sp? Perhaps some uncertainty over outcome over forthcoming G8 summit. Russia/US tensions may also be weighing on resource stocks. It doesn't look like good justification to sell, but on the other hand I said that about easyjet recently, and it's now at 520p or something.

over 500p now and still rising. Also check out IVK - company TMC is JV'ing with.

There's been a bit of fear and loathing on advfn about the fact the news may have been just a rumour. It turns out it's not. RNS out and bloomberg now covering it:- http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=TMC:LN&sid=aPe9HkZOqJNo

ah see what you mean cyberbub - maybe you were alluding to TAN... ;)

working lunch doesn't tend to do features on distressed businesses. I doubt companies going down the tubes want BBC reporters knocking on their door.... ;)

check out this fuel cell company - my dad (ex-engineer amongst other things) recommended them to me. Still some way to go till profitability but good technology:- http://www.itm-power.com

1. find out what company is on working lunch. 2. buy before programmme starts 3. sell 1-2 hours after programme finishes ;) To me PFLM's sp looks like a lot of growth is already priced in market cap is £103m, sales a bit over £3m, net income of about £450k. I guess the technology itself carries a big premium however which might make it an attractive takeover target. I haven't seen today's working lunch yet though - maybe will watch it off bbc.co.uk

absolutely! maybe one day fourteenhundred ;) I lost patience with LNG today and sold for a minor loss. Shame. I'm going to keep an eye on them though as analyst consensus, at least pre-RNS was for a healthy target sp.

Seymour Pierce has put a £2 on TFL, sp up 4-5% again today. There is maybe a hint of a takeover depending on the reading of the following (think i was wrong in saying no mention of M&A yesterday - apologies):- Corporate Development "To date the brand's development has been funded internally. We wish to accelerate this development and are therefore having discussions with a number of potential strategic partners."

got into these at 47.95 thanks to you and GedW. CMM continues to rise as takeover rumours bubble along. Company's sp may well rise even in the absence of a takeover IMHO.

I'm afraid I bailed from IEC and LNG too today and moved into TMC at 400p and PANR at 74p. Also bought MTA yesterday at 7p. I seem to have ended up with a lot of resource plays on the books, but they all look good for some growth for now (also have CEY and LND, though have doubts about the latter). Particularly pleased with RGM - 3.91p avg. Now mid of 5.375p.

Philippine government has announced the Berong mining permit is to be extended to 25 years this morning. TMC's shares rocketed to over 400p on the news. There will be a pull-back no doubt, but it is helping investor confidence in this laterite nickel miner:- DJ Philippines Issues 10 Metallic Mining Exploration Permits 134 words 5 June 2007 05:18 Dow Jones Commodities Service English Copyright 2007, Comtex News Network. All Rights Reserved. MANILA, Jun 05, 2007 (DJCS via Comtex) -- The Philippines has approved 10 mining exploration permits in a bid to boost mining investment in the country, a senior government official said Tuesday. Mining companies which were given new exploration permits include Ivanhoe Mines Ltd. (IVN), Horacio Ramos, executive director of the Mines & Geosciences Bureau, told reporters. Ramos said the government has also extended a mining permit earlier given to Toledo Mining Corp.'s Berong nickel project in the central Philippines. "Berong now has a 25-year mining permit," he said. Toledo was earlier given only a one-year operating permit for Berong. -By Rhea Sandique-Carlos, Dow Jones Newswires, 63-918-9014158; rhea.sandique-carlos@dowjones.com (END) Dow Jones Newswires

Hi debbie, the only thing I can think of regarding the ridiculously low valuation is that the latest RNS's trading update has the intangible assets comprising most of the net asset value:- From the RNS:- £118.5m of the valuation is Intangible assets. Total assets less current liabilities is 135.8m Net assets is £132.5m but less intangible assets is £14m. Also there's 47.7m currently owed by trade debtors. I would assume this is normal for this kind of business however.

hemscott figures only the provisional ones should have read 25/5/2007 RNS. apologies. 1. what is the reason for the discrepancy between the Net Asset Value, Sales and Market Cap? 2. how come profit is so low on such a healthy turnover? i.e. why the low profit margin?

figures (Hemscott) turnover - 2005-2006: 10% increase (£317m, £349m) 2006-2007: 6% increase (£349m, £370m) profit 2005-2006: 262% increase (£0.8m, £2.1m) 2006-2007: 257% increase (£2.1m, £5.4m) The figures for 2007 are provisional, if met (annual report on 22-Sep-07), give a PE of 6.7 against a sector average of 17.9. PEG is low at 0.18. Lord Ashcroft as in Michael ashcroft/baron ashcroft - he of tory party funding scandal and non-UK domicile status. Great tax dodge that one. "He ranked 89th in the Sunday Times Rich List 2007, with an estimated personal wealth of £800m." - http://en.wikipedia.org/wiki/Michael_Ashcroft 75% of the market cap of £28.9m is only (!) £21.7m and I agree Lord Ashcroft can spare the change. It does indeed look undervalued. What is the catch? Just that it's thinly traded?

I've just looked at JCF's analysis on RVA (selftrade) and from a fundamentals perspective this company is impressive. Sales 2006: £13.7m, 2007: £27m, 2008: £79.28m (estimated) EBIT 2006: £1.73, 2007: £2.74m, 2008 £13.11m EPS growth is 138%, PEG is 0.11. And they are paying a 3% dividend. Almost looks like a slater/zulu principle stock. Still too worried about long term prospects of biofuels to make a big bet, but bought a few at 80p.

Sure you wouldn't want one of these:- http://tinyurl.com/n7ofw http://tinyurl.com/24bo2n ;)