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Today's RNS Reach is important and excellent news for Pulsiv.

Two excellent captures for Chairman and Chief Product Officer, and nice commentary from FIPP's and Pulsiv's CEOs:

Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Portfolio-news-Pulsiv-app/92004699

"Pulsiv has now developed a global distribution network and has attracted significant industry interest, including a collaboration with Salom, a major manufacturer of power supplies. Mark and Tim's long and successful history of building businesses and products will prove invaluable as Pulsiv now enters an exciting stage of its journey to become a significant green technology business."

" Pulsiv CEO Darrel Kingham

"Pulsiv has all the technology and talent to become a global leader in power conversion technology. With 52 fundamental granted patents and a further 31 patents pending, Pulsiv is perfectly placed to be disruptive and offer something new to the power electronics industry. Their simple business model coupled with their deep IP portfolio and an experienced management team is highly analogous to ARM computing for power conversion. I am honoured and privileged to join the team as Chairman at this very exciting time for the company."

Pulsiv Chairman Dr Mark Gerhard

"I have been involved with Pulsiv since 2021 and have seen the excellent progress that the company has made since then. Its technology has the potential to be highly disruptive across a very broad range of applications. Pulsiv OSMIUM can improve the efficiency of electricity conversion in a cost-effective way by using readily available electronic components. What is so exciting is that the technology is ready now to reduce bills for consumers and rapidly drive the much-needed decarbonisation of our economy. I am thrilled to have the chance to join full time and use my experience to drive positive impact in the green economy."

Https://citywire.com/investment-trust-insider/news/expert-view-currys-yougov-ncc-safestore-centralnic-group/a2425358?re=112740&refea=218441

"Berenberg: Team Internet is scaling up in growing markets

IT services company Team Internet Group (TIG), formerly known as CentralNic, is well placed to take market share in a structurally growing sector, says Berenberg.

Analyst Robert Chantry retained his ‘buy’ recommendation and target price of 250p on the stock, which was trading at 125p on Friday.

The company’s capital markets day saw management present its core strategy but Chantry said ‘the focus was the divisional heads’ presentations on the four business units’.

‘The capital markets day coincided with CentralNic’s rebranding to ‘Team Internet’, reflecting how the company’s offering encompasses search, comparison and performance, as well as its core online division,’ said Chantry.

‘We walked away from the capital markets day with our thesis reinforced: Team Internet is well placed in a structurally growing market and is continuing to take meaningful share.’

Long-term the business benefits from ‘longstanding partnerships with key players such as Amazon and Google’.

‘While these relationships have developed over several years, the company envisions that, as it scales further, it will become more diversified, global and vertically integrated, supporting continued growth,’ said Chantry."

Here's his commentary from yesterday afternoon:

"I've picked up some T Clarke CTO.

It looks mighty cheap! A forward PE of just 6. A peg of just 0.3 and a dividend of nearly 5% ticks a lot of boxes.

It also has major support at 130p. I've been trying to buy it on DMA so I could buy at the sell price but try as I might I couldn't find any sellers which I suppose is a good sign.

I wonder if TCO might get some work in some of these schools that will need work doing that we're all read about this week.

It offers building services across the UK, including schools, residential, hotels etc and offers engineering services and facilities management.

Seems a decent well run company at a great price. Initially targetting a lift back up to 150-160 but it could end up a longer-term hold.

TCO boss Mark Lawrence has been with the company for 37 years, that is some experience!"

Last night's late RNS saw Harwood (mainly via Christopher Harwood's Oryx Growth Fund) disclose they have bought another 13m shares - they now own more than 9% with 95.75m shares:

Https://uk.advfn.com/stock-market/london/react-REAT/share-news/React-Group-PLC-Holdings-in-Company/91990736

WH Ireland retain their 9.5p fair value target, and forecast €0.4c EPS this year, rising to €0.9c next year.

In particular, they note that "cumulative CPO production in the year to date is over 80% of our expectation for the full year in volume terms, giving good confidence over a strong financial performance in this division".

And as regards cashews "Further updates are expected on Q3 2023 operations during October 2023".

In summary:

"August palm oil production well ahead of FY2022

Today’s August production update from Dekel’s palm oil operation reflects a continuation of strong results from the business in recent months, with production up 38% over last year and a marginal increase in pricing month on month. Strong production in August follows record monthly production numbers earlier in the year, combining with historically elevated pricing to position DKL for a strong financial performance from this division for the full year. Cumulatively, production in the year to date is now over 80% of our forecast for the full year, giving the company good visibility at this stage for the palm oil operation......Our FY forecasts are unchanged on the back of this morning’s update, while our 9.5p fair value assessment is reaffirmed".

Just back from hols and learnt the terrible news of Joanathan's death. My thoughts are with Jonathan's family, particularly Nick, and friends. To be taken at the age of just 55 is just inconceivable.

I talked with Jonathan in person and on the phone a number of times, and he was always a pleasure to discuss matters Volvere-related and anything else with, being as honest and forthcoming as he could be. He had a fine, dry sense of humour and was obviously an extremely capable businessman. He and Nick have done a fine job with VLE.

For the record Evil Knievil on Master Investor had this to say:

Https://masterinvestor.co.uk/evil-diaries/evil-diaries-check-it-in/?mc_cid=f2147d2f90&mc_eid=db9f9bbaf2

"I invested successfully in Volvere (VLE) several years ago and sold out. I thought no more about it. It was and remains a very successful investment/trading company run by Jonathan and Nick Lander. It is chaired by David Buchler, a distinguished small company assessor. Last Monday, Jonathan died very suddenly aged 55. As an enquiry on Google will show there was nothing gross about Jonathan Lander.

Thus Nick is in the driving seat and one wonders what will happen now. TNAV is about £14 a share and one can buy stock (not much) at about £11.50. VLE is highly solvent and loaded with cash.

Curiously, the Lander brothers were shown as being paid just £19,000 p.a. between them. But, slightly unusually, they were also taking £650,000 p.a. into their management company, D2L. Perhaps Nick will take just £325,000 p.a. now. I do not know.

I also do not know what Nick intends to do with his time or why or where. But he might take VLE on to new heights of sensible achievement. Or he might accept an offer for the lot. If the latter, it must surely be above £11.50 a share. Here is an opportunity for patient investors."

Yep, another outstanding monthly CPO update. CPO sales are up 56% and production is up 38%. PKO sales are up over 1100%! And CPO pricing continues to be strong in historical terms.

DKL's financial performance for this H2 "continues to track well ahead of H2 2022".

Excellent stuff:

Https://uk.advfn.com/stock-market/london/dekel-agri-vision-DKL/share-news/Dekel-Agri-Vision-PLC-August-Palm-Oil-Production-U/91994055

Agreed - bought in here this morning.

SWG have £4m cash against a mere £11m m/cap (even after this morning's rise), and forrecast to rise to £5m by next March.

Progressive forecast £2.4m EBITDA this year rising to £3.2m next year, and more importantly FCF of 9.2p per share rising to 11.1p.

The market looks forward, so there's lots of potential upside from here for a cyber-security company with well over £30m forecast turnover now on the recovery path, and conversely minimal downside for a well funded and cash-generative company imho.

For the record Finncap retain their 200p target price today:

"COO appointment

As intimated at the FY 2023 results in early August, the company has announced the forthcoming appointment of Stephen Brown as Chief Operating Officer (COO), who will join the Group on 28 September. He brings a skillset and experience to the company that should provide the company with the additional management bandwidth to enable it to continue to grow through its buy and build strategy. Stephen has an engineering background, having held a number of senior positions with global product and technology focused businesses. Recent roles include: Group COO (non board) at AB Dynamics and CEO & Operating Partner at BP Launchpad, part of BP. Prior to this, he held multiple leadership roles, including (i) Global Vice President at Romax Technology, (ii) Research and Development Director (Technology and Production business unit) at Vestas Wind Systems A/S, (iii) Technical Director at the Industrial Power Group, part of Rolls Royce Holdings plc and prior to this other executive level roles in early-stage growth companies.

No change to forecasts and we reiterate our 200p target price, at which level the stock would trade on FY 2024E EV/EBIT and P/E multiples of 19.5x and 27.9x respectively, falling to 17.5x and 24.7x in FY 2025E; supported in our view by 14% adjusted EPS growth in FY 2025E, a FCF yield of 4.5% (FY 2025E) and the prospect of accretive acquisitions not yet included in the forecasts."

CAPD took part in Wia Gold's recent A$11m fundraising at A$0.032 (a 20% discount ot the share price at the time), summarised here:

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02689236-6A1159402?access_token=83ff96335c2d45a094df02a206a39ff4

Per their disclosure CAPD now own 19.9% of Wia, or 183,216,279 shares - these are now worth around £3.4m at the current A$0.037 price, so CAPD have made a decent profit already on their purchase of around 123m shares:

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02701796-6A1164548?access_token=83ff96335c2d45a094df02a206a39ff4

The new COO has a good track record. ABDP has been an unambiguous success post-IPO, and with senior leadership roles at BP, Vestas and Rolls Royce in addition he has a pretty impressive CV:

Https://uk.advfn.com/stock-market/london/sdi-SDI/share-news/SDI-Group-PLC-Board-Appointment/91886378

An excellent cashew update today, with DKL's facilities passing the BRC Global Food standard assessment with a grade A, the highest possible grade accreditation, helping "to achieve premium prices in the near future".

Plus production volumes continue to improve, with another quarterly update coming in October.

Unambiguously good news for a change :o))

Https://uk.advfn.com/stock-market/london/dekel-agri-vision-DKL/share-news/Dekel-Agri-Vision-PLC-Cashew-Operation-Update/91886264

Asterisks!

Go to"directors talk" interviews and that should do the trick.

dated yesterday:

https://www.***************************/enteq-technologies-completes-important-milestone-video/4121125856

Rising already today. And unsurprising imo given the value and potential.

Allenby's 90p target is a stretch in the current market, but in 6-12 months if all goes well MWE could have made very good progress towards it.

With a forecast cash pile equating to 8.4p per share, plus (1) ongoing strength in global defence markets for obvious reasons, (2) a ramping up of 5G spending as most are predicting, (3) the necessity for increased water efficiency/management and an improvement in general market multiples then MWE should continue to thrive.

A good production update from Resolute Mining, where CAPD are drilling contractors at Syama, resulting in the RSG share price moving up yesterday.

Syama's production is being expanded to over 250,000 oz per annum, so this will be a substantial operation:

Https://www.londonstockexchange.com/news-article/RSG/summary-of-half-year-results/16093182

Zeus have released a new 23 page note this morning. They don't have a price target, but summarise with share upside of >100%:

"Valuation:

Anexo trades on an FY23E EV/Sales of 1.0x, an EV/EBITDA (inc. lease liabilities) of 3.4x and a P/E of 4.2x with a prospective dividend yield of 2.4% based on a conservative c.10% payout ratio of adj. EPS. Relative peer multiples imply share price upside of >100%. Our forecasts do not assume any benefit from the Mercedes Benz Emissions Claim, despite the manufacturer having already paid-out in the United States. An agreement in the Group Litigation Action currently in process would result in additional material cash inflows in 2024."

They also state:

"On an EV/EBITDA basis, comparable peers suggest Anexo should trade at least double its current 3.4x multiple. Assuming Anexo traded in line with the average of the UK legal services sector FY23 P/E of 9.5x would imply a share price of 149.4p, upside of 125% versus the current price. Removing Keystone Law, which trades at a premium to the wider sector, would still imply a PE of 7.3x, or 175% upside to current levels. Our forecasts do not include any benefit from a potential agreement in the ongoing Mercedes Benz Emissions Claim, despite the manufacturer having already paid -out to consumers in the United States. Anexo is representing 12,000 claimants in the Group action,. The Group also sees scope for further action against at least six other major manufacturers over time."

Arden had a 300p price target before being acquired by Zeus Capital earlier this year. Haven't seen a new note from Zeus yet today.

WH Ireland have raised their forecasts as stated previously - they note in particular that:

"issues in rented housing, both private and social, and which have been well-publicised in the press, suggest that a large, relatively untapped, pool of potential clients exists in the Housing Disrepair sector."

They summarise:

"Forecasts: Revenue and PBT forecasts are lifted for FY23E bearing in mind the VW settlement, which was not included in our forecasts. Hence FY23E PBT is raised by 40% to £25.2m, and EPS from 11.8p to 15.0p (+27%). Bearing in mind the “cash first” mantra, and reflecting a strongly growing business, we are pleased to be able to improve our net debt forecasts, with a new FY23E forecast standing at £66m, a 7% improvement YoY, feeding through to £63m in FY24E (-10%)."

Good to see the share price rising nicely from the lows in recent days. Much more to come hopefully!

Per dangersimpson2's post elsewhere, It seems that CAPD have increased their stake in PDI, presumably in the 15c placing in May. The latest PDI presentation has them at 9.8%. CAPD's investment portfolio is likely now worth over $50m, even before any uplift from the Allied Gold IPO:

Https://announcements.asx.com.au/asxpdf/20230807/pdf/05sdfkhdx4jnlv.pdf

More info from ds2:

"At A20c this means the CAPD stake is worth around $26m. Given their willingness to put fresh cash into an already large position, they likely see Bankan as a new Tier 1 mine that is pretty certain to be developed, and has a high chance of delivering long-term production drilling contracts on top of the existing exploration drilling and capital gains from their equity position.

Overall, the total equity portfolio is likely to be above $50m again, prior to any uplift if/when Allied IPOs. So this is starting to be a material part of the capital structure again. Although one that never gets fully priced by the market due to its illiquidity/volatility."