Member Info for jollyspeculator

on okish (not shoot the lights out ...yet...rns) has changed my opinion ...still got some issues around its capital/balance sheet imv...but there seems plenty of upside and at least the boss is aligned with us humble PIs ....aaoo/dyor

interesting comparison...I prefer MIRL cos its growth project sees a little more advanced ...but not a lot in it? ...similarities are clear...both have mines coming to end of their production (not sure the cheaper cash costs of MIRL's makes a huge difference)... ...imv the key is that both need to find the finance for their main growth project in what are probably challenging market (pog and finance raising) conditions ....what terms of finance will be available to either...onerous?...dilutative?...time will tell

given projected earning of 8.7p next year imv ...only one analyst I see on barclays and yahoo...interesting to see revisions and or more coverage ...no advice intended ..aaoo/dyor

2 early

a Jolly adj EV/EBIT of 5 is just way toooooooooooooooo cheap ..no advice intended!!!! ...aaoo/dyor all

yep agree with you about gbo... ...I am less confident than I was there... ...the poor WC management is an important issue however Jolly irritating PS (like me lol) can be...but how big an issue only time (next accounts?) will tell ...the £24m raised at least takes the immediate heat off a WC crunch (of the sort faced by any growing business with the terms of business that GBO has with its distributors/customers...ie having to support a lot of receivables as part of its natural business)

...this is a tough one, mate..

is at least as hard as EV cos it is not a snap shot imv but the flow over many years current, past and projected future that matters ...I guess my assessment of EBIT is a bit like others assessing e & g in peg it requires looking at accounts (not just last interims & finals but back over a few years) ...but I start with reported operating profit and then judge whether to accept or not the companies adjustments..for example I don't accept share payments as a reasonable adjustment for instance (it is valuable after all...and causes effective dilution for us!!) ..best of luck

..afraid there are no shortcuts...you have to wade through rns's!! ...suggest start with MCAP as reported on LSE (but I look for confirmation of shares with last rns ...holding or PVR...and check on dilution overhang through other instruments like CULS; options, warrents etc) ...net debt/cash is trickier...you have to get struck into latest accounts and make all sorts of adjustments! ...have a look on internet to see whether there are any resources there or a financial primer book...it has taken me 30 years to get reasonably confident about judging how much reported cash is tied up (as passenger advances on DTG; as pension deficit payment on DWHT for instance) to support EBIT ...the key point to calculate an EV that can correctly be compared to EBIT

..accounts are pretty interesting...wading through them steadily ...one modest point is that the £ equivalent is now 10-15% lower: £ was at a v low ebb on 31st March and has now reverted to 3-5 year norms ...so the £ equivalents shd be cut by 10-15% imv ...every little observation helps mature a view lol

of £8/£8.40 trading range.. ...multiples still juicy imv

I will have a more considered look over next few days ..appreciate the heads up

..

interesting play thanks ...know anything about management or markets?...and why Philip C hasn't bought shares at this price?

alert

but another 25k buy@7.74p keeps us waiting/guessing lol

I suspect.. ....not mine (but Jolly fascinated by tug over 7.5p)

lol

standstill/long liquid lunches, everyone?

oh dear