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I also note that the CEO has been tweeting about the major new Star Wars series The Acolyte filming from November, which since he usually tweets about ADF-only productions rather suggests that ADF are involved:

Https://twitter.com/marsproctor/status/1552220386317697024

ADF also posted a news story about their provision of facilities to the new Paramount streaming platform for a commercial marking Paramount's launch, evidencing ADF's further diversification into new customers:

Https://mailchi.mp/e671b3409132/adf-paramount

Another good week for the rig count, rising another 9 to 767:

Https://boereport.com/2022/07/29/u-s-drillers-add-oil-and-gas-rigs-for-record-24th-month/

Extracts:

"U.S. energy firms this week added oil and natural gas rigs for a record 24 months in a row as oil majors post blowout earnings on surging crude and gas prices.

The oil and gas rig count, an early indicator of future output, rose nine to 767 in the week to July 29, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.

Baker Hughes said that puts the total rig count up 279, or 57%, over this time last year."

"Demand for hydraulic fracturing equipment is quickly outpacing supply, executives said"

Excellent increase in their gold resource at Bankan just announced by PDI:

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

I note they now have 9 drill rigs on site (CAPD's Q1 update stated their contract with PDI had expanded from 2 to 5 rigs).

And PDI state:

"Bankan is one of the most significant gold discoveries ever made in West Africa and may possibly become the region’s next tier-one gold mine."

"Over the following months and supported by our healthy A$57 million cash balance, we will continue to drill the current deposit to convert the Resource category from Inferred to Indicated, undertake further resource drilling at Bankan Creek and develop our regional targets with the goal of finding more NE Bankan-style deposits along our 35km-long structural corridor."

Finncap have this morning raised their target price to 275p (from 265p).

I note that Finnap also state "this is unlikely to be the last acquisition in the current year".

And that LTE's "costs will be lower post-acquisition", i.e there are savings to be had post-acquisition. Plus "the opportunity to potentially cross-sell with other SDI businesses and expand production in LTE’s factory should also drive incremental sales and cost synergies".

This acquisition is in line with the usual multiples paid of up to 6 times EFV/EBIT given this one's being done on around 6.4 excluding the freehold property acquired, so barely any difference.

The size and pace of acquisitions is certainly stepping up - that's the third major acquisition this year.

Looks excellent value too, being earnings-enhancing and with SDI gaining historic £0.4m EBIT for £2.65m net of the freehold property. Plus presumably synergies with the rest of SDI's companies and growth post the covid-affected results in 2021 which gave rise to that £0.4m EBIT:

Https://uk.advfn.com/stock-market/london/sdi-SDI/share-news/SDI-Group-PLC-Acquisition-of-LTE-Scientific-Limite/88716749

Another potential catalyst is the potential IPO of investee company Allied Gold, which was mooted last year and may well be resurrected, especially if the gold price remains around its current levels or falls back to say $1,400-$1,500, which would still be a decent level historically.

CAPD's investment in Allied Gold is currently valued at around $10.9m.

Berenberg have today reiterated their Buy and 380p price target:

Https://www.sharecast.com/equity/Shearwater_Group-18554/broker-views

Buys coming in at 779p and now 789p....perhaps more/larger trades will be reported later since these are relatively small.

Overhang cleared? Something occurring? Maybe even takeover interest (there has been mention of this being a possibility in the past)? Or simply a re-rating taking RNWH nearer to where it should be valued.

More good news - this new contract will benefit this H2 as it's due to roll out from September:

Https://www.touchstar.co.uk/blog/wcfnortheast

Extracts:

"WCF North East roll out Touchstar Android fuel delivery solution
27 July 2022

WCF North East roll out Touchstar Android fuel delivery solution "

" Business challenges

As the business continued to grow and become more diversified, WCF North East were looking to introduce a technology-based solution that would replace the ever-increasing amount of paperwork. Efficient and effective operations are fundamental to delivering a first-class service, so WCF needed to significantly reduce or completely eradicate paperwork which was both time-consuming and prone to human error.

Any new technology introduced to the company’s operations needed to reorganise and improve existing processes and enable the drivers and back office to communicate more effectively.

The Solution

To tackle the challenge of reducing paperwork and streamlining processes, TouchStar began by using their comprehensive API integration and worked with the existing CODAS back office system to integrate processes seamlessly. As a result, the trucks and back-office systems seamlessly communicate with one other, providing a greater level of automation and reducing paperwork. Another significant benefit is the GPS technology which supports truck routing and scheduling teams, as well as receiving data directly from the devices in real-time. All of this provides a consistent and high level of customer service and reduces unnecessary mileage for WCF drivers.

The integration and the attachment of the signature to the invoice has proved invaluable to the company. The fact that WCF can obtain live data directly from the devices is invaluable and the range of different meter types TouchStar accommodates fully met the WCF brief. Since implementing the system, WCF have seen a number of benefits including better visibility on what, when and where fuel has been delivered. Delivery processes have become more efficient and automated including back-office stock reconciliation, driver paperwork and safety checks. WCF have been able to plan better and improve their service to the customer with a greater degree of accuracy and compliance.

Android Implementation

Since the initial set-up and training, TouchStar has continued to work closely with WCF to provide ongoing support to both office staff and drivers. TouchStar has now been commissioned to upgrade the entire WCF North East fleet from a Windows operating system to Android.

The advent of Android has dramatically improved the functionality of mobile devices. It is an open system and has now been adopted on a large scale. "

"Touchstar has invested heavily in the development of a range of mobile and in-cab devices that operate under the Android platform.

The transition will commence in September 2022. "

WH Ireland have updated as follows FYI (they see 9p as fair value):

"Dekel Agri-Vision (DKL) – Cashew operation update – Significant increase in daily production in the coming weeks
Market Cap £15m Share Price 2.7p

Encouraging news from DKL this morning highlights the full installation of the new colour sorter which is due to drive a significant increase in daily production at the new cashew processing operation. Arriving on June 12th, the sorter has moved from arrival at the port to full installation in a matter of weeks. With shelling machines now having also arrived at the port, full commissioning of the cashew lines seems close at hand.

As final commissioning takes place, we expect the cashew operation to increase very materially in operating capacity, moving from around 20% now to near full production at 10,000tn of raw cashews. We expect the cashew operation to add €12m of revenue in FY23 and as much as €24m with further capacity improvements in future, with gross margins potentially over 25%.

WHI view: We note that in addition to the momentum on installations, the company has purchased sufficient raw cashew nuts to feed the operation for the rest of the current year. We feel that with the investment in the cashew plant now largely completed, DKL is poised to move to an increasingly cash generative phase of the business, as highlighted in this morning’s RNS, giving it added means with which to pay down debt and at an appropriate time to introduce a progressive dividend policy."

Finncap this morning retain their 425p target and 25.9p EPS forecast.

There's also a 1.2p dividend and £3.9m net cash.

They summarise (extracts):

"AGM trading update – on track for FY22 expectations

The group’s first AGM as a quoted company is encouraging, with positive trading and a strong order book supporting prospects. With encouraging trading seen in H1, the group is on track with growth plans. Demand continues to grow in energy and water efficiency – with recent increases in energy costs driven by the Ukraine conflict highlighting the need for energy sustainability and the increasing issue of fuel poverty. No change to forecasts and we maintain our 425p price target. The shares responded well to FY22 results but have since retreated. The valuation remains significantly below peer group valuations, while our price target offers good upside to current levels and should benefit from defensive characteristics and strong growth."

"Valuation.

The shares continue to offer very compelling value, in our view. FY22 results announced recently were on track and illustrate a continuing high level of cover from its multiyear order book. The group has defensive characteristics, not just from order visibility but also from a customer base that is significantly made up of utilities, municipal and other local authorities, where demand is being driven by heightened awareness of climate imperatives, increasingly supported by regulation. We maintain our existing 425p price target that offers significant upside to current levels, with the current P/E valuation of 9.9x a significant discount to peer multiples."

Cenkos's update today says Buy and sees 200p as fair value.

They've left their forecasts for this year unchanged at 13.6p EPS and £4.8m EBITDA, with the cash pile rising to £6.9m at the year end.

They summarise:

"Shearwater Group Plc More beats The prescient demand for cyber security protection is shown in these results, with double-digit organic revenue and EBITDA growth. Major contracts wins are reinforcing revenue visibility and the re-platforming of the Software division bodes well for new sales once completed.

? FY22A results. Adjusted EBITDA of £4.4m is 5% ahead of that flagged in April’s FY trading update, and 16% ahead of the estimate we had at the close of the fiscal year. Organic growth amounted to +13% YoY to £35.9m in revenue terms, +19% at the adjusted EBITDA level. Adjusted EBITDA margins rose 60bp YoY to 12.3%. Net cash ended the year at £5.6m (-7% YoY), just shy of our £6m forecast, after a large working capital unwind versus prior year. This is a good set of results."

"? Visibility. A bunching of new contract wins announced in Q4A amounting to £25m contributed to last year’s performance but part will help revenue visibility going forward. This currently stands at £14m, or 37% of this year’s forecast.

? Forecasts unchanged. We are leaving our adj. EBITDA forecast of £4.8m (+9% YoY) in FY23E unchanged and introduce FY24E forecast of £5.0m (+4% YoY). We note that prior years have started out similarly cautiously and been upgraded as the year progressed. A pipeline of software deals now that functionality has been broadened and modernised could be the catalyst for a similar pattern. We continue to see fair value at 200p+, which on FY24E forecasts would be c8x adjusted EV/EBITDA. Buy."

Looks very cheap to me at the current price.

H1 trading has been "encouraging" and is in line with forecasts of 25.9p EPS for the current year - barely above a single-digit P/E.

And there's huge forward revenue visibility for the next two years:

"In addition to delivering on contracts in the current year, we are also building a strong pipeline of opportunities for the following year and beyond with an Order Book(1) providing full revenue cover for our FYJan23 revenue target and 67% for FYJan24"

Following the first Agritech win in India ETP are "in discussions with other states across India". Imagine the potential....

Https://uk.advfn.com/stock-market/london/eneraqua-technologies-ETP/share-news/Eneraqua-Technologies-PLC-AGM-Update/88705230

The results are to 31st March are ahead of even the upgraded expectations.

EBITDA in particular is £4.4m compared to the previously flagged £4.2m, and adjusted PBT is similarly well ahead at £3m (compared to Progressive's forecast £2.6m).

Net cash of £5.6m is as stated, and SWG are on the hunt for acquisitions.

Above all, the outlook is very rosy, with Q1 having been strong, high repeatable revenues and an increasing number of new clients.

With 14.1p EPS forecast for this year SWG are a cybersecurity company barely trading on a double-digit P/E.....

after the MM's were bidding 84.1p for up to 150,000 shares in the early afternoon. Someone was after stock!

Good to see another rise today to the closing 91.8p mid-price after several large trades went through and a total of 3.72m shares traded.

The H1 results are out soon, on 18th August. We know they'll be good (at least prior to the short-term investment portfolio movements). The outlook will be equally bullish.

Then there's every chance of further mining service contract wins, plus the stellar growth of the Labs business and the likelihood of more drilling contracts.

The share price has gained 50% in the last two years. There's no reason imo why the share price shouldn't re-rate again by anywhere between an additional 50%-100% given the extremely cheap fundamentals.

Looking good now. And ended the day strongly with several buys at or around the full 730p offer price.

on very good volumes and ended the day strongly with a 50,000 share buy at 158p and around 33,000 shares bought at the full 159p offer.

on their web site dated 20th July, covering their first six months as a PLC:

Https://facilitiesbyadf.com/life-as-a-plc-update/

Extracts:

"Life as a PLC – Update

During the first six months of the year, we’ve seen solid progress across the group and a great start to life as a publicly listed business on the AIM market of the London Stock Exchange."

"The supportive market dynamics have led to a significant increase in demand for our services, with ADF's fleet capacity already almost fully booked for the 2022 calendar year. We have had a total of 197 new vehicles ordered for 2022/2023, with 76 delivered."

"Outlook

We are pleased with the start we have made as a public company and as demonstrated this year, our business model provides a strong platform for sustainable growth. Going forward, the underlying market drivers provide us with confidence that the demand for our services will continue to expand significantly. This, coupled with our extensive network of contacts and sector expertise, positions us well to capitalise on the market opportunity ahead."