Member Info for elite

Hi Gatto. Only here to correct your point. Aqua Bounty used to be split into a restricted stock line and an unrestricted stock line. There is now just an unrestricted stock of 157,425,309 shares as per the recent November RNS. At 29.5p that capitalises Aqua Bounty at £46.44m as opposed to the £3m you stated ATB.

Worth having a look at their liabilities; particularly their Athena decommissioning liability. Puts the cash balance into perspective, such that this is a value trap unless they rectify that. El1te

Exited on Simon Thompson's Bargain Shares driven tip (of all times) at a miniscule profit...Suppose he has his uses otherwise would have cemented a material loss. Same with Camkids, albeit that was at a loss. It does take an experience to recognise that there are serious issues with AIM listed Chinese companies in general and it's not something that a lot of investors were aware of pre-Naibu. I certainly underestimated that risk and the very poor communications with shareholders, which only helps in mounting uncertainty. Hindsight is wonderful etc. Serious corporate governance issues here unfortunately, otherwise directors would have done something by now - buying shares or doing more to convince the market such as regular roadshows. Best, El1te

Unquantified contract win today with a large petrochemicals player in Saudi Arabia. Bodes well and the chart is starting to look more positive again, albeit illiquid. El1te

Delighted with this second opportunity at 13.5p as, with added benefit of seeing the interims, the PER even at the diluted level is not unreasonable and if they kick ahead with growth (recent loan book opened), then the future will be bright in my reckoning. Balance sheet also good and interims slightly impacted by provision and Edgewater breakeven results El1te

Hi Earlsfield - just posted this on another bulletin board "Currently evaluating whether it is best to free up the portfolio slot and re-invest if more substantiative steps are made to release news to the market. Personally I would like them to invest more aggressively in growth within electronics or even set up a cybersecurity division if it makes sense. During the research for the last article I recall reading a PDF stating that Newmark were willing to listen to pitches for potential acquisitions. The forward PER is still 6 (divi probably 3.5% - 4%) [ even lower when accounting for current assets) but it is tempting to exit the position now and re-invest at the half-year point around February as it's otherwise cash tied up. There is of course potential for the results for the interims to be flat Y.O.Y despite the probable lack of exceptional items - might delay any re-rate further. Then again, looks strong technically Contemplating a move to No Rating. Will decide by EOD. Best, El1te"

If you email me using my contact form/the email address on my site then I will forward you it Best, El1te

Interesting framework agreement signed with Kier today. Sounds as if it should materially add to revenues, thus earnings, over the coming years El1te

Have duly relayed those thoughts across. Should see an improvement in due course - new investor relations drive appears as thought it should have some force behind it Best, El1te

As earlfield notes, sellers taking advantage of liquidity with some of those sellers probably stemming from the Faraday tip. Operating margin was actually up when taking out the impairment. Near 4% yield now and a very low PER when you adjust out the exceptionals. Should be a nice earner to sit on, especially if they can strip away that impairment this year. That is forecast to give EPS this year of 0.39p at the last reading. Solid balance sheet so the dividend is well covered. Simply that news flow in the past has been weak, so "nothing to look forward to". However, am pressing the management to improve their investor relations having been in contact over the past couple of weeks. Dividend boost is a great first step, so will see how that pans out. Best, El1te

Spot on - appears a muted update. The lacklustre statement has certainly not helped the share price and the pushing back of results to September (vs. July last year) is slightly concerning. Thalassa remains a good medium-term prospect, but with HGI selling using their CFD as a hedge, the share price will probably continue to come under pressure Cut losses at 194p for a 5% loss. Disappointing, but that was not a great update from the company, by any stretch of the imagination. Best to be flexible now and then re-enter when HGIs situation becomes clearer. Once again, good call on that front riddler. El1te

agema - I'm still pretty bullish on equities to be honest (although that can change quickly if there is a big event). I've more come around to the thoughts that the days of finding obvious cheap stocks are gone for now, and a lot more digging has to be done. Perhaps there are some opportunities in the mining sector whilst commodity prices are very cheap, but a lot of the small cap stocks are utter junk run by directors who are heavily overpaid. It's like trawling through a minefield Jolly - Didn't realise that SAG had dropped back by around 10%. RBN looks a little expensive for the sector in my view, even post-acquisition, but the board is strong so perhaps deserves a premium. Haven't looked at DWHT, so will do when I get time. I have also looked at GBO, but the historic shorting activity from Henderson, Ennismore and Blackrock was sufficient to deter me. Best, El1te

agema - Yes, that's certainly true. Plus these new revenues are just subscription so will carry a pretty much 100% margin, which should drop through to post-tax profits given all the tax losses MIRA has. Always the risk that subscription revenues won't live up to expectations, but given supposed size of the company, it should be meaningful. Recent director sale doesn't help though! Jolly - There's so little great value in the market once again in my opinion. There's some decent value, but that's about it imho - a couple of interesting plays, but they blatantly require cash so will probably place shares in the near future. Perhaps I need to start looking further up the market cap chain... GL with MIRA El1te

May be related to this slight tweak of wording in the contract win RNS: Nov 2013: "If the product is rolled out across the customer's existing subscriber base, the licence fees generated over a THREE year period will far exceed the Group's existing annual turnover." May 2014: "The contract is expected to generate significant revenues, starting in the second half of the financial year, which the Directors believe should far exceed mirada's yearly turnover over the next THREE to FIVE years." Doesn't look to be bad value at all at the moment, but the market is being cautious for now. I remain on the sidelines having taken profit at circa 18p. Best, El1te

They probably use the CFD to hedge: http://www.contracts-for-difference.com/strategies/CFDs-hedge.html El1te

That's the big question. However, I suppose they are using their CFD to offset the impact. El1te

Good shout Riddler - Always difficult to work out what Henderson are playing at: http://www.investegate.co.uk/thalassa-holdings/rns/holding-s--in-company/201406241409204084K/ El1te

Announced by SNC-Lavelin Group at a price of 935p. Phenomenal for holders - well done El1te

Agree, but struggling to see any catalysts for now. Have been following NTQ for about 9 months, but it has never been good enough because broker forecasts have been pared back time after time after time. Cash balance is a good buffer though, and as you say, the first 2 M's definitely hold. Definitely starting to look better technically too Libero - Keep at it. Investing is not about ability, it's about knowledge and that can only come with experience. Everyone makes mistakes or judgement errors near the start. Best of luck! Just remember to recognise why every investment you make it either successful or unsuccessful. Happy to talk in-depth by email if you wish. One or two good moves and your confidence will be up there again. El1te

J288 - Presume you emailed me? Replied Brokerdaw - To be fair, the Namibian, Omani and Zambian assets were purchased relatively recently and at very low prices. Very little work has been done on the licences before purchase and what has been done has been unsuccessful, hence why FRI were able to purchase so cheaply. FRI haven't added much value to them to be honest. The fact that they are trying to farm-out already proves their funding difficulties. Faaz - Good point! (Just backdated it to prevent it from showing on the home screen). I would say a much closer comparison would be with MATD. These companies don't (as it stands) have much value in the actual assets, but they can derive value through proper 3D seismic, and farm-out thereafter. They can then drill. MATD tried that, and essentially failed catastrophically, so their asset is worth very little, probably less than the market is valuing it at. MATD also has cash issues. That's a similar position to that of FRI, but FRI are earlier stage. They don't have any proper seismic, can't afford proper seismic, so are effectively at the mercy of any farm-in company. I don't honestly expect them to get partners for at least 1 of their licences, and the important one, Oman, will probably be the hardest sell given the funding commitments and timescales involved. That said, if any one asset is developed properly, then £2.5m will look a joke - there is just a material risk that no value will actually be derived. There certainly won't be any long-term value derived before proper 3D in Oman, or new 2D in Namibia/Zambia. I personally think that their portfolio is too large as it stands. They should shelve Zambia at the very least, in my opinion, and try to direct any cash raised to the Namibian and Omani assets. The issue for small cap companies with such high risk, high reward exploration, is that they become a binary bet, and often end up divesting of these high risk assets and search for low risk production assets. Alternatively, many cease to survive on AIM. Of course, all of this is fairly irrelevant in the short-term. The market cap is ~£2.5m and many investors will be willing to take the bet that something will be pulled off. The game here is very much in securing value-enhancing farm-outs that will allow future licence commitments to be met. That's not too pressing an issue in Zambia or Namibia, but certainly is on Oman. Time is of the essence there El1te