Jamie, HH, 14 Dec 2012 08:59
My 10:27 Post on MOSB yesterday
CAPD:
Business summary
Capital Drilling Limited is a drilling services company. The Company, along with its subsidiaries, provides drilling services, including, but not limited to, exploration, development, grade control and blast hole drilling services to mineral exploration and mining companies located in emerging and developed markets. It also provides some procurement, equipment rental and information technology services for mining and mining exploration companies. It operates in two segments: Africa and Rest of world. Africa and Rest of world derives revenue from the provision of drilling services and related procurement, equipment rental and information technology support services. During the year ended December 31, 2010, it provided drilling services in Chile, Egypt, Eritrea, Hungary, Mauritania, Mozambique, Pakistan, Papua New Guinea, Tanzania, and Zambia. On May 28, 2010, the Company acquired the remaining stakes in Capital Drilling (T) Limited and Capital Drilling Egypt Limited Liability Company.
Market cap: £21.20 million
Shares in issue: 134.59 million
Management & Inst holding : 73.45%
Free Float = 35.73 mill shares or 26.55%
Year low = 15.5p
Fear High = 95 p
Broker Targets = 119p & 59p
10:56 Post Repeat on MOSB yesterday
They have 90 rigs
Country Rigs
Egypt 23
Zambia 23
Tanzania 19
Chile 8
Mauriana 7
Ghana 3
Mozambique 3
PNG 3
Ethiopia 1
Total 90
Egypt share 25.56%
this is an over reaction to CEY and the drop here is 40 odd percent.
Unlike a miner, they are always in demand
With Blue chip clients like Ashanti, Kinross, Antofagusta, BHP billiton, Barrik they will re deploy the rigs else where easily.
With such a small free float the rebound should be very quick