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Certanly an impressive start to the week.....now breaking above recent chart highs.

Good to see a few buys first thing this morning at around 20.8p-20.9p - well above the 20p published offer price. That's keen.

VLE have been tipped here by the looks of it. Subscribers only - anyone got the text?

Https://www.*************.com/views/48390/volvere-shares-up-on-our-february-share-tip-after-trading-update-more-to-come

"Volvere – shares up on our February share tip after trading update, more to come…

By Tom Winnifrith & Steve Moore | Friday 10 April 2020

Self-styled “growth and turnaround investment company” Volvere (VLE) has updated including it is “still achieving an encouraging level of output” and “is in a strong financial position, with significant cash resources”…"

TST have been tipped here by "HotStockRockets" (a name to live up to!) by the looks of it. Subscrbers only - anyone got the text?

Https://www.*************.com/views/48384/touchstar-shares-now-bounce-following-update-on-trading-and-impact-of-coronavirus

"Touchstar – shares now bounce following “Update on trading and impact of Coronavirus”…

By HotStockRockets | Friday 10 April 2020

Shares in Touchstar (TST), a tip earlier this year, fell below 30p last month but have currently recovered back above this level, including following an “Update on trading and impact of Coronavirus”…"

Finncap have a 25p target based upon the existing business, with nothing at all for COVID-19.

The current m/cap is largely covered by the valuation for the extremely profitable Food Intolerance division. Then you've got CD4, which alone could be worth multiples of the current share price, plus the allery testing division. Both of these are almost in the current m/cap for free imo (and Finncap's).

You really need to read Finncap's research to realise the upside from the imminent CD4 testing.

Today's COVID-19 news is entirely a bonus on top of that existing business.

Finncap have a 25p target based upon the existing business, with nothing at all for COVID-19.

The current m/cap is largely covered by the valuation for the extremely profitable Food Intolerance division. Then you've got CD4, which alone could be worth multiples of the current share price, plus the allery testing division. Both of these are almost in the current m/cap for free imo (and Finncap's).

You really need to read Finncap's research to realise the upside from the imminent CD4 testing.

Today's COVID-19 news is entirely a bonus on top of that existing business.

Great to see. I do like the secure asset backing in the form of a big cash pile plus freehold property.

Good to see the bid price up to 18.5p, with buying coming in at 19.4p and the share price starting to respond.

...and thar she blows :o))

Could well move up quickly from here given the low m/cap and the buying interest, now that the seller is hopefully out.

The timing of the virus outbreak is such a shame for NTQ - having produced yesterday's numbers of $11m revenues and $3m EBITDA to 31st March, they were in a fantastic position to push on and really make some big breakthroughs.

With $10m net cash, against an £8.9m m/cap, NTQ are in a strong position and, once again, have shown their acumen by employing many staff on easily releasable contracts, reducing their workforce by 60% etc.

Judging by the previous downturn NTQ should be able to retain most of that cash pile ready for the recovery.

There's a new interview with the CEO here. He's optimistic about prospects outside the USA, including the new Saudi deal and also following discussions recently with Chinese customers in that market which is now recovering. And NTQ's new technologies, including the new partnership with Shell, are in the price for nothing at present:

Https://www.proactiveinvestors.co.uk/companies/news/916895/enteq-upstream-expects-revenue-to-remain-broadly-in-line-with-earlier-full-year-expectations-916895.html

And there's a new research note on Proactive, with some interesting conclusions:

Https://www.proactiveinvestors.co.uk/companies/news/916905/enteq-upstream---strong-balance-sheet-maintained-916905.html/long

"Enteq has also indicated that it will continue to invest in selected engineering development projects. One important programme is the Rotary Steerable Drilling system being developed under a licensing agreement with Shell. We believe that the expanded product base could enable Enteq to significantly exceed its FY Mar 2020 revenue run-rate once market conditions allow.

Cash position, valuation

The strong net cash position on Enteq’s balance sheet (US$10mln) is an important element of the investment proposition in our view. We believe that with its reduced cost base, the company will be able to trade through a very depressed revenue environment in 2020 (and 2021 if necessary) without needing to access fresh capital. We believe that some industry peers may prove less resilient, which could alter the competitive landscape going forward.

The shares now trade on an enterprise value (EV)/sales multiple of 0.24x (using trailing Mar 2020 revenues). While the market may be sceptical about any kind of valuation metrics applied to the energy sector at present, we believe that this multiple implies substantial upside potential for Enteq shareholders once the energy market enters a recovery."

Cheers Fredr.

The new Finncap note is 17 pages long and well worth a read.

A couple of nice extracts:

"Final thoughts The financial results do not truly reflect what a good year FY 2019 was for Pelatro. The switch from large upfront licences to smaller recurring-revenue contracts while scaling up for global sales and a managed services offering, has impacted the financials, but if we look beyond the headline numbers this is a company showing consistent growth in; customers, regions and offerings. By deepening its relationship with its customers, PTRO is building a secure base of recurring revenue and which made its name in developing regions but now beginning to challenge US market leaders in their own backyard."

"Valuation view From highs of near 100p, the share price has slipped steadily over the past 12 months as the company undertook its transition from selling upfront software licences over to recurring contracts. The lower revenue growth and the reduced earnings from the required investment made investors nervous. This has been exacerbated by the sudden impact of COVID-19 on the market leaving the stock deeply undervalued. The share price, along with the market in general, has rallied since mid-March lows.

The business currently trades on a forecast P/E of under 14x and an EV/EBITDA of under 6x both far too low for the growth and profitability the company has demonstrated. To that we can now add the security of starting the year with half of the expected revenue already secured under recurring revenue contracts. We continue to target 125p in the longer term as the stock and the market recovers."

The list of major shareholders is stellar:

Shareholders %

Bannix Management LLP* 39.9
Chelverton Asset Management 6.6
Rathbones Investment Management 5.4
Herald Investment Management 4.8
Artemis Fund Management 4.7
Killik & Co LLP 3.8
Hargreaves Hale Ltd 3.2
Maven Capital Partners 3.1

*Bannix is the investment vehicle of Kiran Menon, Varun Menon and Sudeesh Yezhuvath."

Worth noting that Cenkos' forecast of 4.3p EPS this year is "conservative" per their new Buy note today:

"Upgrade – We have upgraded our FY20E forecasts by £1m following the March trading update. While clearly orders from China are strong, we feel it is appropriate to remain conservative given the COVID-19 associated uncertainty. The increase in revenue forecast delivered an upgrade of ~£300k at the EBITDA level."

Investment thesis – Venture Life offers a combination of both organic and M&A driven top-line growth with manufacturing and operational efficiencies expected to deliver margin improvement. We believe the strong order book and acquisition of PharmaSource exemplify the growth and margin expansion potential of the company. We maintain our Buy recommendation."

Topped up with a few more on this dip. Online has improved somewhat, so hopefully the seller is running out or has run out of stock.

DKL are a company who are forever not quite getting there/suffering from bad luck but whose potential is obvious.

For example, (1) at just the time when CPO prices were peaking, the 2020 high production season started late! So Q2 will show higher production, but prices will have dropped due to the pandemic. And (2) the cashew milling tool manufacturing just happens to be in Italy, so couldn't be in a worse place. And (3) the delay in this production of three months, which ordinarily is neither here nor there, would be enough to miss much of the Feb-May'21 cashew high season.

The good news is that Q1's figures should nevertheless be pretty decent (fingers crossed) given the 28% rise in average prices over 2019, with positive EBITDA.

And operations for both palm oil production and cashew preparations are continuing nicely with minimal disruption.

I can see Aristide Achybrou buying more shares if the price remains at these levels, and I may well do the same. But I suspect patience is the watchword.

Very good results indeed.

The progress over 2018 is good, but it's the prospects for this year that stand out:

- the order book is 2.5 times last year
- the company is sound financially, with net cash even after the PharmaSource acquisition in January
- all the company's facilities are operating normally worldwide
- hand sanitizer sales should benefit the company nicely
- the Chinese partners seem to be very keen and are ramping up orders even now
- VLG are ideally positioned to benefit from the growing self-care market, particularly in the current environment

Trading statement is out. VLE continue to look great value imo. JL is typically cautious about the pandemic's uplifting effect on Shire's sales, but the signs are there:

Https://uk.advfn.com/stock-market/london/volvere-VLE/share-news/Volvere-PLC-Trading-Update-and-Notice-of-Final-Res/82200157

- net assets of 1382p per share (excluding the true value of Shire Foods)
- cash of £19.3m (prior to small Indulgence acquisition)
- Shire made £1.3m PBT, up from £0.85m, with revenues up 26% to £23m
- Shire's likely large uplift in retail sales partially offset by foodservice decline, but this must surely be much smaller relatively speaking as only 12% of sales?

Boom :o))

Given that the current m/cap is undervalued imo even solely in respect of the Food Intolerance division, with CD4, allergy panels etc thrown in for free, you have to wonder just where the share price could go on the back of this:

"The UK-RTC, which was announced by the UK Government yesterday, comprises Omega, Abingdon Health Limited, BBI Solutions Limited, CIGA Healthcare Limited, and the University of Oxford (the "Parties") and was formed at the request of the UK Government to support the development and manufacturing scale-up of a COVID-19 lateral flow antibody test ("COVID-19 Rapid Test") to determine whether people have developed immunity after contracting the virus."

Moving up now. I bought some more this morning. Hopefully, with just a £3.2m m/cap, REAT will be winning a lot more deep clean contracts very soon given the COVID-19 pandemic.

Moving up strongly yesterday and today - there was a seller around, but he looks to be well and truly out now.

There has to have been a large forcede/desparate seller out there yesterday. Can't believe the seller has much stock left now with another load going through this morning!

Nice coverage here:

****************************/articles/reacting-to-increased-demand-caused-by-covid-19--9bf33a2/

"REACTing to increased demand caused by COVID-19
6th April 2020

The REACT Group Plc (AIM: REAT) has announced they are experiencing a period of high demand to provide decontamination and infection control services for premises thought to be harbouring COVID-19.

The Company’s proprietary components and methodologies eliminates all traces of the virus and can provide ATP testing to confirm and certify a site is clear for safe operational use.

Capacity has been expanded to support demand through cross training, partnerships and sub-contracting with smaller specialist cleaning operators with all specialist cleaning operators are equipped beyond recommended standards to ensure their health and safety.

The Company has entered into a number of agreements with Tier 1 Customers to provide a 'first-response' service to support multiple premises in England and Wales. Although demand is likely to decrease over the next few weeks as the impact of the lock-down reduces incidents requiring remedial action, the Company believe demand will increase again as the country returns to some form of normality.

Current Trading ahead of management expectations

Due to the increase in recent trading, the Company now expects to deliver a small operating profit in the six months to 31 March 2020, ahead of expectations and putting the Company in a good position to meet or exceed management expectations for the full year.

Strengthened balance Sheet

The (unaudited) cash balances as at 31 March 2020 was c.£306,000, which only included one week's payment from the c. £0.5 million Tier 1 Customer contract announced on 23 January 2020. From this point forward remittances from this Contract are now issued weekly to contribute positively to the Company's cash position.

In addition, REACT has negotiated with a bank an initial line of credit of £225,000 on favourable terms secured through invoice discounting.

These actions put the Company is a strong position to support its growth."