Member Info for rivaldo

Excellent - a second large mining services contract win, this time for $30m per annum for 5 years:

Https://uk.advfn.com/stock-market/london/capital-CAPD/share-news/Capital-Limited-New-Contract-Award-Finance-Updat/91296142

Ivindo/Fortescue Metals must have been impressed with progress on the diamond drilling contract announced earlier this year.

This bodes well as Fortescue are the fourth biggest producer of iron ore in the world.

CAPD are just absurdly undervalued imho.

Yesterday from Domain News Wire:

Https://domainnamewire.com/2023/06/07/com-winners-latest-rankings/

"Com winners – latest rankings

Andrew Allemann

June 7, 2023

ICANN has published the latest official data from Verisign (NASDAQ: VRSN) about the .com namespace. This registrar-by-registrar report covers February 2023.

CentralNic had a strong month for new registrations after receiving an larger-than-normal performance from its Key-Systems brand.

Here’s how registrars did in terms of new .com registrations in February:

1. GoDaddy.com* (NYSE: GDDY) 763,837 (779,935 in January 2023)

2. Namecheap Inc. 267,371 (287,015)

3. Google Inc. (NASDAQ: GOOGL) 227,693 (241,112)

4. Newfold Digital+ 166,623 (158,231)

5. Tucows** (NASDAQ: TCX) 150,467 (169,605)

6. CentralNic 141,521 (80,023)

7. GMO 77,776 (111,852)

8. Gname.com 77,360 (94,345)

9. Wix 69,824 (75,481)

10. IONOS 67,517

Here’s the leaderboard of the top registrars in terms of total .com registrations under management as of the end of February.

1. GoDaddy* 55,940,212 (55,903,000 in January 2023)

2. Newfold Digital+ 12,926,368 (12,977,415)

3. Tucows** 11,300,918 (11,325,219)

4. Namecheap 8,973,624 (8,918,940)

5. Google 6,522,073 (6,374,991)

6. TurnCommerce++ 6,164,131 (6,180,371)

7. IONOS# 5,504,915 (5,495,138)

8. Alibaba 4,404,155 (4,548,403)

9. CentralNic## 3,575,252 (3,460,216)

10. GNAME 3,201,177 (3,052,943)"

For the record here's WH Ireland's summary of the deal - the sale "looks to us like a good outcome for CSSG" on a historic EBITDA of 9.46:

"Croma Security Solutions (CSSG) – Corporate – Successful disposal of Vigilant,

subject to shareholder approval

Market Cap: £7.1m Share Price 47.5p

CSSG’s announcement this morning brings to a successful conclusion, subject to

shareholder approval, the disposal process for Vigilant, its manned guarding

operation, announced at the company’s AGM at the start of December last year (2022). The overall strategy behind the disposal recognises the disparity between

the ongoing CSSG businesses (Security Systems and Locks) on the one hand and

Vigilant on the other, and the relative lack of cross-selling opportunities between

the sides of the business prior to the disposal. In addition, in terms of the

fundamentals, notably, firstly, the ongoing businesses are higher margin operations than Vigilant, which operates at the upper end of the mid-single digit operating margin level typical of manned guarding businesses. Secondly, we note the consolidation opportunities which CSSG perceives in the wider locksmith market in particular, lending further logic to the deal from the company’s perspective.

The company also updates on FY23E trading in the eleven months to June ‘23, which is said to be ahead both consecutively – H2-23E as against the half year to

December ’22 – and on a full year basis, and across the business. Positive news,

this suggests resilience / growth in the underlying markets for the ongoing group,

with further market penetration a consistent theme.

WHI view:

In terms of the disposal price, CSSG has disclosed revenues, EBITDA and operating profit for Vigilant of £29.3m, £0.8m and £0.7m respectively for year to June ‘22. Given the effective overall sale price of £7.57m, based on a consideration of £6.5m plus inter-company balances of £1.07m, the implied historical ratio of 9.46x EBITDA looks to us like a good outcome for CSSG. Subject to details of the final deal structure, CSSG within the overall £7.57m will receive on completion either £3.4m or £2.1m in cash, with further cash payments starting at March 31st 2024 and over the following nine quarters. Following the recent Safecell announcement, the company has already announced its intention to continue to take advantage of the consolidation opportunities in its markets as it grows its national footprint, with further acquisition opportunities identified. With no forecasts in the market at this point, we await developments post-the General Meeting announced for June 30th."

Zeus have retained their 57.4p valuation and summarise:

"Trading update highlights strong start to FY24

Altitude has released a trading statement this morning confirming FY23 results will be at least in line with Zeus’ recently upgraded forecasts and trading in the first few weeks of FY24 has been strong. The upgrades put through at the time of the last update (28th March) were predicated on new contract wins in the Adjacent Markets Programmes (AMPs) leading to an increase in EBITDA expectations of 11.9% in FY24 and 24.2% in FY25.

The contracts underpin the strong start to the new financial year but encouragingly momentum has been maintained across the Group with both the Merchanting and the Services divisions continuing the positive performance seen during FY23. Zeus leave forecasts unchanged today, apart from a slight increase in FY23 net cash, but the strong start to FY24 provides confidence in estimates that factor in 47% revenue growth and 38% pre-tax profit growth yoy. Altitude shares trade below our valuation estimate, updated at the end of March, of 57.4p per share, offering 37% upside to last night’s closing price."

"Valuation: We continue to believe that Altitude shares trade at a discount to intrinsic value. Based on Zeus forecasts, Altitude trades on an EV/Sales multiple of 1.1x FY24, compared to a 1.8x average FY2 EV/Sales multiple for a broad set of UK small-cap software and services peers. Our DCF analysis provides a 54.9p per share valuation estimate and our discounted medium-term valuation estimate is 54.2p. The average of the three valuation estimates is 57.4p, which represents 37.0% upside to last night’s closing price."

Very nice update this morning - "significantly" ahead of last year is rather promising:

"initial trading has continued to be strong and is tracking significantly ahead of the same period last year"

And the USA-wide AMP roll-out augurs well:

"Merchanting continues to expand via its Adjacent Market Programmes (AMPs), which are progressing well with further contracts having been signed and other contracts now entering the final stages of legal negotiations . Currently, the AMPs national roll-out implementation has commenced in multiple cities across the United States, and we expect to provide further detail following the successful roll-out of our contracts towards the end of the first half of FY24 being September 2023."

Today's RNS shows that Chelverton's holding has remained constant at 9m shares - their percentage holding is now 6.53% due to dilution from the placing.

Good summary AJP08, cheers. I've now watched the presentation and was fine with it. The focus should be on the exciting content, and as John's been able to get institutional investors to part with £10m at 5.1p per share then he's doing a bloody good job in terms of communications, let alone anything else!

Also this morning Octopus AIM VCT released their prelims to 28th February, and for the record they had this to say about newly investing in ITX:

"We invested £1.6 million into Itaconix plc, which is a leading producer of plant-based additives for a range of consumer products, from detergents to shampoos. Itaconix’s natural polymers help to decarbonise products, whilst providing improved performance, safety and sustainability. The company raised a total of £10.5 million in a heavily over-subscribed share placing, which will be used to support a range of growth initiatives, including the development of new products and applications for its technology."

Sigh :o))

No, I do not work for any of BMS's corporate brokers. I have no relation or connection to BMS. I am a purely independent stock market investor and have been so for over 20 years - as you'd know if you clicked on my name and looked at my posts. And you can deduce my views on BMS from my various posts.

Now we've established that, please answer my questions.

Looking at your history, you've posted 45 times in total on this LSE bulletin board since 2022. Every single post has been on BMS.

Can you confirm whether you've ever had any connection to BMS? Why is it you've never posted on any other company if not? Even if you do not have a direct connection, do you work for a competitor or other company in the same industry?

Awale Resourdes, where CAPD have been the drilling contractor, have commenced drilling at Odienne in the IC following linking up with Newmont Corp:

Https://money.tmx.com/en/quote/ARIC/news/7370937418551783/AwalxE9_Resources_Recommences_Drilling_at_the_OdiennxE9_Copper_Gold_Project

Also noticed this tweet from CAPD on May 24th about more drilling commencing for Fortescue Metals:

Https://twitter.com/_CapitalLimited/status/1661230690288177152

"Our Rig 85 has arrived in Gabon to commence the three-year contract with Fortescue Metals Group Ltd at their Belinga iron ore project. This is our first contract in the country and drilling has commenced this week."

RNS - that's a chunky £90,000 buyback of 7,500 shares at 1200p. That's another 10,000 shares off the books including the one four days ago:

https://uk.advfn.com/stock-market/london/volvere-VLE/share-news/Volvere-PLC-Transaction-in-Own-Shares/91226616

On relatively large buying by TST's usual standards.

There you go again!

As I said, just click on my poster name and you'll see a multi-year record of postings on a huge range of companies, including those where I've sold my shares. It'll take you 5 seconds if that. If you must make such absurd statements about me (or anyone), then you just make yourself look ridiculous :o))

After £8k of buys today, so hopefully not much stock around. There should be news of the decision on either buybacks or dividends soon.

BMS were indeed promoted to the FTSE Small Cap Index last week as per FTSE Russell's announcement.

Changes take effect from 19th June, so it'll be interesting to see if there's any increased buying interest up to and after that date.

OT : Le Barone may or may not be correct over time as regards BMS, but the tone and nature of his posts completely invalidates any opinions he might give. Any poster who has to resort to insulting someone who merely has a different opinion is more than likely to have an agenda of one sort or another. Perhaps he might take just a few seconds to look at my posting history over the last 20 years or so to revise his views. But I don't expect him to, as that would show his posts up for what they are......

Excellent news which should bring further attention here:

Https://www.lse.co.uk/news/london-briefing-bats-glo-doesnt-abf-buys-national-milk-records-tp6q4p1z2p1ymio.html

"Berenberg starts Renew Holdings with 'buy' - price target 950 pence"

Today's RNS confirms the sale of Vigilant for an excellent £7.57m of total cash receipts including intercompany repayments - compared to the £7.1m m/cap.

Pretty good for a business which made £0.7m operating profit in the last full year and only £0.13m PBT in the last six months.

Plus CSSG retain the growing security centre business which made almost £0.5m EBITDA in the last 6 months.

There's a lot of deferred consideration in one form or another, but this strikes me as a rather good deal.

And today's trading update reads very well:

"Separately, the Group has continued to trade well and we have had a strong second half to the year which ends in June 2023 and we expect to report overall trading comfortably ahead of last year."

"Following the Disposal the Continuing Group's business will comprise Croma Locks and Croma Systems where margins are high (relative to Vigilant) and cash generation remains strong and where the Board believes there are good opportunities for profitable growth."

https://uk.advfn.com/stock-market/london/croma-security-solutions-CSSG/share-news/Croma-Security-Solutions-Group-PLC-Proposed-Dispos/91250081

Let's hope this commentary from the CEO re the new CFO today presages good news:

"With his significant experience and dynamic approach combined with his strong commercial acumen he will be of great value as we enter a new phase of corporate development and look forward to a period of growth as we commence the exciting phase of introducing the game changing SABER technology to the drilling market."

Https://uk.advfn.com/stock-market/london/enteq-technologies-NTQ/share-news/Enteq-Technologies-PLC-Appointment-of-new-CFO/91211965

Excellent new article on TST from AIM Prospector - free to download. A £15.6m m/cap would give 90% upside from here:

Https://www.aimprospector.co.uk/

Conclusion:

"Before post-COVID interest rate hikes, when sentiment was elevated, software companies were typically valued at three times recurring revenues plus non-recurring income. To that we can add net cash. Using the most recent full year figures, gives a rule-of-thumb valuation of £15.6m. While Touchstar isn't an outright software play, it is growing, suggesting my quick appraisal isn't outlandish."

Excellent news last night as another validation of CNIC's reputation and quality.

In case anyone missed it:

Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-CNIC-becomes-supplier-to-Crow/91192225

"Network Services 3 is the latest iteration of the CCS's Network Services framework. The agreement will provide telecommunication services including Critical Domain Services to Central Government Departments and all other UK Public Sector Bodies. This includes Local Authorities, Health, Police, Fire and Rescue, Education, and Devolved Administrations."

The next FTSE indexes review takes place tomorrow (Wednesday), with changes taking effect from 19th June.

It looks like BMS will be promoted to the Small Cap index, which should prompt some tracker index buying in advance of and after the promotion:

Http://www.stockchallenge.co.uk/ftse.php