Member Info for rivaldo

Zeus Capital have updated this morning with a 221p valuation based on DCF. The share price is up 6p this morning already to the now 126.5p midprice, so still loads of upside.

Zeus have left forecasts unchanged at 17.4c EPS for this year for the moment given (1) the debt refinancing expected soon and (2) the 17th October trading update not far away.

But they note that their forecast is only mid-consensus whereas CNIC have indicated that they're at least at the high end of expectations.

If they merely double H1 forecasts that would be 10% above their current forecast. And that's not accounting for (1) a full period of VGL (H1 only had four months) and (2) Q4 being CNIC's strongest quarter.

Positive drilling results from Syama (where CAPD are the contractor) from Resolute Mining:

Https://www.londonstockexchange.com/news-article/RSG/two-million-ounce-mineral-resource-at-syama-north/15604334

In particular, lots more work to come:

"Future Exploration

The drilling program at Syama North is ongoing and is expected to extend throughout 2022 as results continue to expand the Mineral Resources. The sulphide mineralisation remains open at depth and appears to be contiguous along the entire strike length of the Beta and A21 deposits.

Infill drilling will also be undertaken as half the Mineral Resources are classified as Inferred and will require to be upgraded to Indicated category to be included in Ore Reserve calculations.

At this stage exploration drilling will be restricted to zones within 150m of the surface to concentrate on identifying open pit extractable Mineral Resources. The potential of an open pit operation at Syama North is high with engineering studies commencing to evaluate the project.

An open pit sulphide mining operation will complement the Syama Underground Mine and add 'flexibility' to the processing complex.

A new low-level, high definition heliborne aeromagnetic survey commenced in July to improve on the historical wide-spaced aeromagnetic coverage. The survey will cover the whole 85 km length of the Greenstone Belt held under license in an effort to delineate more sulphide resources which are the long-term future of the mining operation."

Of course CNIC's results are in US$, so the H1 EPS is actually 7.2p or so, or 8.46c EPS.

No idea what happened to the formatting in my prior post! Here's what should have been posted.....

a storming H1 for the core business, with 8.46p adjusted EPS in H1 alone.

Plus confirmation that CNIC are "confident that the Company is comfortably trading towards the high end of the recently upgraded forecasts".

I suspect that CNIC are readying themselves for an "ahead" trading statement on 17th October.

Cash conversion is superb as usual at 110%, and borrowings are reducing fast - down 22% in just the six months.

Today's we're also promised that the debt refinancing will be completed in the next month or so, which should materially increase profits.

US dollar strength hit Online Presence somewhat and also resulted in hedging losses for the period, but these things even out over time. It's Online Marketing which is growing fast and is the prime mover of the Group.

Net debt will now be ahead of expectations, and the acquisition pipeline is "strong". EBITDA as a percentage of Net Revenue is storming ahead, and the core business looks in fine fettle.

A storming H1 for the core business, with 8.46p adjusted EPS in H1 alone.

Plus confirmation that CNIC are "confident that the Company is comfortably trading towards the high end of the recently upgraded forecasts".

I suspect that CNIC are readying themselves for an "ahead" trading statement on 17th October.

Cash conversion is superb as usual at 110%, and borrowings are reducing fast - down 22% in just the six months.

Today's we're also promised that the debt refinancing will be completed in the next month or so, which should materially increase profits.

US dollar strength hit Online Presence somewhat and also resulted in hedging losses for the period, but these things even out over time. It's Online Marketing which is growing fast and is the prime mover of the Group.

Net debt will now be ahead of expectations, and the acquisition pipeline is "strong". EBITDA as a percentage of Net Revenue is storming ahead, and the core business looks in fine fettle.a storming H1 for the core business, with 8.46p adjusted EPS in H1 alone.

Plus confirmation that CNIC are "confident that the Company is comfortably trading towards the high end of the recently upgraded forecasts".

I suspect that CNIC are readying themselves for an "ahead" trading statement on 17th October.

Cash conversion is superb as usual at 110%, and borrowings are reducing fast - down 22% in just the six months.

Today's we're also promised that the debt refinancing will be completed in the next month or so, which should materially increase profits.

US dollar strength hit Online Presence somewhat and also resulted in hedging losses for the period, but these things even out over time. It's Online Marketing which is growing fast and is the prime mover of the Group.

Net debt will now be ahead of expectations, and the acquisition pipeline is "strong". EBITDA as a percentage of Net Revenue is storming ahead, and the core business looks in fine fettle.

Https://www.londonstockexchange.com/news-article/SCE/contract-award-from-oem-9/15604553

Excellent news - the "battery electric vehicle automotive company" description should attract the market's attention as well as the £13m contract itself.

And "We are in discussions with OEM 9 on additional opportunities and hope to make further announcements in due course"

Nice comment too about the contract being won "due to our product's technical superiority in exacting head-to-head trials".....

Late yesterday what looks like a very positive update on CAPD was issued by the never knowingly understated HotStockRockets - anyone got full access?

Https://www.*************.com/views/63946/capital-limited-positive-interims-and-further-encouragement

"Capital Limited – positive interims and further encouragement

By HotStockRockets | Thursday 25 August 2022

Mining services company Capital Limited (CAPD) has announced results for the first half of 2022 and that “the underlying demand in the market continues to be encouraging”."

Https://www.investorschronicle.co.uk/ideas/2022/08/25/business-is-heating-up-at-sureserve/

" investment ideas
Business is heating up at Sureserve
The energy support group has the tools to tackle fuel poverty
August 25, 2022
By Jemma Slingo

Very few companies will benefit from soaring energy prices. Sureserve (SUR) looks better placed than most, however. The Aim-traded group has reinvented itself in recent years, shifting from construction and property maintenance into heating and energy, with a focus on social housing. As fuel poverty spreads this winter, the contractor’s services – which include installing insulation, smart meters, heat pumps and solar panels – are likely to be in high demand. "

etc"

Good to see 50,000 shares bought in three blocks already today on a normally quiet Friday morning, causing the bid price to move up from 88p to 89.2p so far.

Confirmation today that the H1 results will be on 20th September:

Https://uk.advfn.com/stock-market/london/anexo-ANX/share-news/Anexo-Group-PLC-Appointment-of-Director-Notice-o/88921653

The June AGM update was very positive and confirmed ANX were trading in line with expectations of 19.3p EPS this year.

A few punters may have exited recently due to the barristers' strike, thinking it might affect court cases, but elsewhere a poster has confirmed this is definitively not the case:

"I rang the IR guy about this. It won't affect Anexo as their actions are civil and not criminal; it won't make a difference to court timings either as criminal cases are heard in magistrate and crown courts and not civil courts."

RNS this morning confirms the H1 results will be out on September 13th:

Https://uk.advfn.com/stock-market/london/facilities-by-adf-ADF/share-news/Facilities-by-ADF-plc-Notice-of-Results/88921662

The H1 trading update confirmed that ADF continue "to trade in line with market expectations for the FY22 year" of 4.6p EPS, £31.8m revenue and adjusted EBITDA of £7.8m.

"With our order book nearly filled for 2022, we enter the second half in a robust position and look to the future with confidence."

Momentum Investor updated on SUR in their July issue after the interims. They noted "excellent momentum" and that "Encouragingly the order book increased 50% to £512m and covers 96% of FY'22 expected revenue". They concluded:

"Shore Capital has left forecasts unchanged with eps of 8.1p for the year to September '22, rising to 8.9p in '23, leaving the prospective PE on just 9.4. I am a buyer."

Liberum have initiated coverage on ORPH today with a Buy and 21.6p price target.

Their note is 62 pages long!

The opening summary paragraph is:

"Open Orphan is the global leader in challenge study CRO services, a small but growing pharmaceutical services segment. Sales are set to grow 27% this year, it is profitable and cash generative, has an current order book at >£80m and £15.4m of net cash (pre-IFRS16). Yet amongst investors it is largely unknown. In our view, Open Orphan offers investors a growth story in a defensive sector at an attractive entry point. Shares trade on an undemanding 7x 2023 EV/EBITDA and a 5.8% FCF yield, 60-80% below UK listed peers. This discount should narrow as growth is delivered, the track record extends, and investor awareness grows. We initiate with a BUY rating and a 21.60p TP."

CAPD's large investment in Predictive is up 8% overnight on "outstanding" drilling results from Bankan.

CAPD in Q1'22 extended its exploration and delineation drilling contract and expanded "initially" from 2 to 5 rigs - and this press release says there are currently 10 active drill rigs on site:

Https://www2.asx.com.au/markets/company/pdi

“Predictive’s next phase of drilling, which is focused on further defining the quality and extending the fast-growth resource of the NE Bankan gold deposit, continues to prove up the significance of what is the largest gold discovery in West Africa for over a decade.

“As we continue to drill out our assets and move towards the development phase of the project, we are also highly encouraged by the consistency and quality of the resource through our initial grade control drilling at NE Bankan.

“With the expanded drilling cap and the data gathered to date, Predictive continues to maintain significant momentum in its development as we gain further knowledge of what will clearly become a Tier 1 asset in the gold mining industry.”

Today's RNS confirms the H1 results will be on Monday (a good sign!) 12th September, with an Investor Meet presentation too:

Https://uk.advfn.com/stock-market/london/kape-technologies-KAPE/share-news/Kape-Technologies-PLC-Notice-of-Results-Analyst/88912042

Shore Capital currently forecast 40.6c EPS for this year rising to 46.5c EPS next year.

That's 34.3p EPS for this year at the current exchange rate, rising to 39.3p EPS next year - a P/E of just 7.1 at 280p.

We already know the H1 results will be very good from the trading statement:

"Kape has made a strong start to 2022, delivering on our organic growth ambitions and, more importantly, servicing c.7 million customers who choose to use our products.

This has been our strongest H1 to-date, having delivered six consecutive years of growth and, with the integration of ExpressVPN progressing to plan, we are ideally placed to further capitalise on this rapidly growing market."

I missed the presentation this morning so will have to catch up another time.

dangercapital has posted some helpful notes on Discord, for which thanks - apparently Jamie noted repeatedly that the current investment cycle was still in its early stages::

"Q. M&A? A. market not valuing earth movers. Jamie addresses bid defence - strong holders and concentrated should defend against an opportunistic bid.
Q. Dual listing? A. Aware of valuation difference, but illiquidity across 2 exchanges doesn't help.
Q. Leverage? A. An internal target not an external one.
Q. Inventory? A. managed closely, expected to fall in H2.
Q. focussed holdings? A. Moved out of those without explo success, added to those with explo success.
Q. End goal of equity holdings. A. to realise value, provide services as exiting investments.
Q. debt refinancing H2 aim? A. increase capacity to move quickly. Cost of debt should come down quickly.
Q. MSALABS margins? A. Mature Labs would have a higher margin. Current - still relatively small. will report segment when larger.
Q. Rig count? A. no magic number, based on clients, not about rig growth but developing the next big mine customer.
"We are bulls on this cycle, it is due to the classic capital investment cycle. Due to an underinvestment ... looming shortage in resources in many commodities."

Good to see the CFO almost quadrupling his holding! Not eactly a huge purchase, but I find any CFO share purchases encouraging, since they're generally by far the poorest paid exec directors and don't usually have independent wealth - and of course they're closest to the business (in theory anyway):

Https://uk.advfn.com/stock-market/london/shearwater-SWG/share-news/Shearwater-Group-PLC-Director-PDMR-Shareholding/88898373

CAPD are drilling contractors for (and investors in) Awale at the Odienne gold-copper project in the Ivory Coast.

Awale's shares were up 33% overnight on good news from Odienne, which is subject to an earn-in JV agreement with the mighty Newmont.

They've identified "the discovery of a new 4km-long high-tenor copper (+molybdenum & arsenic) anomaly at the Lando prospect":

Https://finance.yahoo.com/news/awal-delineates-4km-long-soil-130000842.html

Excellent news this morning. Parques Reunidos have extended their agreement with ACSO to supply virtual queueing technology for five more years - and expanded it across "two additional North American venues and four European theme parks this year, with more planned for the future".

This may be an RNSNON because the immediate financial uplift is non-specific, but imo this is extremely significant. It's another vote of confidence in ACSO's tech and abilities from a big name in the industry, and is also likely to be financially very material given the impact from six additional theme parks with more to follow:

Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-accesso-virtual-queui/88902269

BGF Investment Management now own 16.151% of ADF and have increased from 15.89% (actually from 15.79% per ADF's web site).

They now own 12.275m shares, up from 12m per the web site, so have bought another 275,000 shares (ADF have 76m shares in issue):

Https://www.investegate.co.uk/facilities-by-adf--adf-/rns/standard-form-for-notification-of-major-holdings/202208221419068123W/

Nice article from Suki Gill of Enteq in Oil Review Middle East latest issue p.32-33 on MWD (doesn’t reference SABER specifically):

Hhttps://www.oilreviewmiddleeast.com/current-issue