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PDI's shares - where CAPD own around £15m of shares - are up 4.4% overnight on the news of "outstanding" drilling results from Bankan, which increased the size of the gold resource by 29% and where CAPD are the drilling contractor.

Lots more continuing and additional/new target drilling to come too:

Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02694637-6A1162143?access_token=83ff96335c2d45a094df02a206a39ff4

Https://www.thisismoney.co.uk/money/investing/article-12375975/MIDAS-SHARE-TIPS-UPDATE-TClarke-versatile-firm-spark-genius.html

Conclusion:

"Midas verdict: Midas recommended TClarke in 2017 when the shares were 76p. By last year, the price had surged to £1.53. Today, they are £1.30. That decline should swiftly reverse. TClarke is known for delivering top-notch work, 90 per cent of its customers come back for more and the recent fundraise highlights management confidence in the future. Existing investors should hold. Newcomers to this business could also find the current price attractive."

Excellent news.

We know that Chelverton sold their last 670,000. TST bought back 225k, the Millingtons bought around another 225k and Ian Martin bought 25k so that's almost 200k unaccounted for - less than 3%, so unlikely to bring another holdings RNS unless the buyer already owned some or buys some more.

Hi BodRuncie, thanks, I did see TST had bought back the 225,000 shares but forgot when I posted this morning!

Just to say also that for m/cap and EPS purposes the shares bought back and held in treasury aren't counted, so future EPS calculations will be increased to take the buybacks into account (unless those treasury shares are reissued to satisfy options or for acquisitions). This is the case for example with VLE (I hold), which has been buying back shares into treasury for some years now and has seen its shares in issue and m/cap reduce accordingly.

Hi Dibs61, good to see you here.

TST has been a long-term recovery story under the terrific stewardship of Ian Martin, so is still under the radar for many. When it was called Belgravium it was largely reliant on lumpy sales of hardware. Now it's been transformed, with:

- recurring income up to around 40% of revenues and rising

- high and rising sales of internally developed software

-highly cash-generative with over £3m cash and rising against the £8.4m m/cap

-big plans for international expansion

-possible acquisitions now on the radar

-taking advantage of the fuel industry's transition from out of date software to TST's own advanced software

A second RNS today - the Millingtons have bought around another 225,000 shares in TST. Their stake is now 6.98% (up from 4.19%):

Https://uk.advfn.com/stock-market/london/touchstar-TST/share-news/Touchstar-PLC-Holdings-in-Company/91735029

One would assume that if TST had bought any of the shares back we'd have seen an RNS by now.

So it would appear to be very good news in that a number of institutions/major buyers have been found to take out Chelverton, which is how they achieved a bargain price in taking on large stakes in an illiquid stock from a willing seller winding up their fund.

Of course TST can't announce anything until they've been formally notified by the buyers - and that's only if the buyers were already or are now over 3%. So aside from the Millingtons we may never find out who the other buyers are if they remain below 3%.

Another 110,000 shares just gone through at 45p - I assume another buyback.

Encouraging to see Ian Martin (the Chairman) buying another 25k shares, taking his holding to 830,250 shares - or over 10% of the company:

Https://uk.advfn.com/stock-market/london/touchstar-TST/share-news/Touchstar-PLC-Director-Dealing/91732716

A whopping buyback of 400,000 shares at 45p should be good news for the EPS going forward assuming the "strong" trading previously reported is continuing.

I note that the shares bought back might be used to part fund future acquisitions, so hopefully more corporate action is on the cards:

Https://uk.advfn.com/stock-market/london/croma-security-solutions-CSSG/share-news/Croma-Security-Solutions-Group-PLC-Transaction-in/91732584

Nice - 1.775m shares traded today! I'm assuming that's Chelverton's 670k now gone to safe hands, so the only question is whether TST bought a load back or whether we have institutional buyers in the frame (or a combination).

TST were "initially" budgeting for a max of £300k of buybacks, but had permission to buy back 850k shares.

SCSW had a nice write-up of RNWH's interims in their June issue, with this positive summary paragraph:

"Net cash was £17m, down from £20m, despite spending £13m on a bolt on acquisition last November of Enisca, a water services business. And now of course, there are no pension scheme contributions, having bought-in the schemes last year, so with a further £80m facility from banks, Scott has plenty of firepower for an eps enhancing deal before long. Even without a deal, the longer daylight hours in H2 will repeat the usual seasonal bias so Renew looks well placed to beat the forecast of £51.2m pretax profit/eps 60.3p."

The tip for CTO in July's Momentum Investor write-up hasn't been posted here, so here's its concluding summary:

"Order book up £135m

Looking ahead, prospects are rosy with the AGM statement noting that following strong trading in the early months of 2023, the order book has increased from £585m to £720m, covering most of this year's forecasts right through to 2025. As well as data centres it has great prospects in healthcare, ranging from fitting out single MRI rooms to two new hospitals in Bournemouth and Scarborough as the Government's much delayed 40-strong new hospital program swings into action. Even the mature commercial office refurb market is gaining a kicker from legislation to upgrade the energy saving credentials of a building to band E or better before from April 2023 and band B by 2030. Lawrence says the overall bidding pipeline is now over £1 billion and crucially Clarke's capacity investment means it could handle turnover above £700m without recourse to further spend.

With next year's prospective P/E just 6.4 (me - at the then 153p) and underpinned by a useful 3.9% (5.9p forecast) dividend yield, the shares have both short term and longer term potential. I am a buyer."

In addition:

"this month's front-page write-up, mechanical and electrical contractor TClarke, is benefiting from a massive boom in data centre construction. A confluence of factors ranging from growing cloud adoption, the Internet of Things, emerging technologies like AI, big data and blockchain, data compliance (driving demand for its storage) and the roll-out of 5G infrastructure have all led to a steep increase in demand for data centres."

Results confirmed for next Tuesday - good to see an Investor Meet presentation on 11th August too:

Https://uk.advfn.com/stock-market/london/sdi-SDI/share-news/SDI-Group-PLC-Notice-of-Results-and-Investor-Prese/91706472

Great to see a major win from another new customer, securing £1.8m of revenues going forward three and likely five years:

Https://uk.advfn.com/stock-market/london/react-REAT/share-news/React-Group-PLC-Contract-Win/91706433

For the record Techinvest had a nice summary of PEG's 2022 results inb their June issue. They concluded thus, noting also that PEG had £1.68m net cash, or almost 3p per share, against the current £4.2m m/cap:

"A lull in sales to the UK rail market acted as a drag on Petards’ revenue last year, but management report that the business is now seeing encouraging signs for new projects, particularly in the new build and retrofit rail rolling stock market. Moreover, service revenues are expected to continue their increasing trend as the installed base grows.

The current financial year has started satisfactorily with the group continuing to trade cash generatively.The broker consensus forecast for fiscal 2023 is 0.51p per share, rising to 0.77p for 2024. On a prospective P/E of 8.9 for a little over eighteen months out, the rating looks undemanding.

Petards’ book value (total assets minus total liabilities) is currently £8.25m or 14.6p per share, which is an exceptionally attractive value metric in the context of the UK market. Strong hold."

Following the excellent trading update CNIC will hopefully be featured in the upcoming issue of Techinvest.

June's issue had a nice summary of the Q1 results and concluded thus:

"CentralNic’s accounts are complicated by the many acquisitions made in recent years and the associated amortisation of intangibles. However, it is reassuring that the acquisitions appear to be working out well, with organic growth across the group continuing to impress (the 46% increase in the quarter looking particularly impressive).

Operating leverage in particular is driving momentum and there should be more to come in this respect as acquisitions are further bedded in and CentralNic continues to win market share in the digital marketing sphere where a strong secular growth trend is unfolding. The directors expressed confidence that the company will trade at least in line with market expectations for the current year.

Trading on a prospective P/E of 6.9 for fiscal 2023, CentralNic’s shares look exceptional value, particularly as debt continues to fall and operational leverage kicks in. We also feel that securing key partnerships with leading technology companies including Google, Amazon and recently Microsoft, is a testament to the strength and quality of the company’s offering. Continue to buy"

Nice upwards chart break-out yesterday.

But still only on a P/E of 9.2 for the year ending in less than two months' time.

For the record, Cenkos' latest note forecasts 17.4p EPS this year, rising to 24.2p EPS and then 27.1p EPS.

The cash pile is forecast at £9.2m at the end of this year, rising to £11.3m then £16.9m.

And the dividend is 5.9p rising to 6.5p and 7.1p.

They summarise (extracts):

"TClarke Plc

Momentum into H2 and beyond

Following the successful placing, todays interims are in-line with expectations, with revenues at a similar level last year (with significant growth forecast for H2) and an improvement in the margin to 2.8%. The group has excellent revenue visibility and is taking strong growth momentum into H2 and beyond, particularly with contract opportunities in the London region. On a FY24E PE of 5.5x, EV/EBITDA of 2.6x and an attractive 5% yield, we believe the valuation significantly underestimates the ongoing growth potential and quality of earnings. BUY."

" Forecasts: We make no changes to forecasts post our recent upgrades, following the placing. The proceeds of the placing will provide additional resources which will enable the group to capture and deliver identified short- to medium-term attractive contract opportunities in the London business, (which are expected to be margin enhancing). The placing is expected to be significantly accretive to underlying profitability. We forecast an operating margin improvement to 3.2% in FY25E, up from 2.4% in FY23E, with a 2-year CAGR (FY23-25E) in EBITA and EPS of 30% and 25% respectively.

 View: In our view, management’s track record of delivery to date of its growth ambitions, which has been achieved without acquisitions or fully supportive endmarkets has been excellent. The recent placing will allow another step change in the growth profile of the business, whilst also (and importantly) improving the quality of its earnings. There looks to be significant opportunities ahead, backed up by supportive end markets, such as government backed investment in infrastructure, the move to net zero and the significant expansion in the Data Centre market. On this basis, TClarke looks very well positioned to benefit and we retain our BUY."

For the record here's more from Cenkos's new note, which forecasts 5.81p adjusted EPS this year, rising to 6.97p EPS next year.

They summarise:

Extracts:

"Venture Life Group Plc

De-levering on strong cash flows

Venture Life has provided a trading update for the six months to June 2023 expecting revenues of £23.5m for the period, up 24.4% YoY, supported by both Venture Life Brands (+27%) and Customer Brands (+20%). Revenue growth excluding the recently acquired HL Healthcare (HLH) was 11.4%. The company notes strong cash generation from operating activities of £4.6m, up 158% YoY and group leverage reduced to 1.4x from 1.6x at Dec-22. The board remains ‘cautiously optimistic’ of achieving FY23E market expectations and we maintain our Buy recommendation."

"Investment thesis – Venture Life continues to develop its buy and build strategy, with the recent acquisitions expanding the portfolio of brands, de-risking individual products and leveraging the sales and distribution infrastructure. With available manufacturing capacity and a strong balance sheet, we believe the company is well positioned to develop its strategy further. We maintain our Buy recommendation."

Andrew Hore on i.i.i wrote this on Friday, rating RNWH a Buy:

"Engineering services provider Renew Holdings RNWH concentrates on maintenance work rather than large infrastructure construction projects, which makes it less risky than construction companies. There is a specialist building subsidiary, but this is small, and the growth is coming from the core engineering services provided to rail, water, highways, etc. The contracts are cost plus, so inflationary cost rises are passed on.

Renew Holdings increased interim revenues by 14% to £471.8 million, while organic growth was nearly 12%. November 2022 acquisition Ensica, which provides services in the water sector, made an initial contribution in the period. Earnings were 5% ahead at 27.4p per share. The interim dividend is 6% higher at 6p. Net cash is £17 million. The group order book is worth £890 million.

Full-year pre-tax profit should reach at least £61 million, although like all UK companies, earnings growth is held back by the higher corporation tax rate.

The prospective 2022-23 valuation multiple is just over 12, while the forecast yield is nearly 2.5%. Shore Capital recently pointed out that Renew Holdings has met or beaten expectations each year since 2006, while underlying earnings have grown at a cumulative annual growth rate of 18% since 2011. The share price has risen by more than 600% over the past 10 years. The consistent track record suggests that the rating is too low, and the shares are good value."