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A quick burst of buying, with around £30k of buys today causing a 2.5p rise.....

Encouraging to see Chris Mills' Oryx International Growth Fund buying more shares - they had 6.275m at 12th September, and now they have 6.49m, so that's another 215,000 shares in the bag, or over 14%:

Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/holding-s--in-company/201911041308171855S/

There was a big feature on the next generation of cars in Saturday's Times Magazine. In it there were a couple of paragraphs highlighting that the latest diesel cars actually produce less particulates/brake dust than electric cars, which are typically heavier and produce more dust from tyre and brake wear.

Of course SCE can help with reducing brake dust by using their CC brakes....

The November issue of Master Investor magazine is out this morning - great to see RNWH tipped as one of three AIM companies ready to bounce. From page 29 onwards - here's the conclusion:

Https://masterinvestor.co.uk/magazine/?utm_source=Daily+Bulletin&utm_campaign=926a69ac5b-MI_Magazine_Alert_November_2019_DB&utm_medium=email&utm_term=0_25eff0bb7f-926a69ac5b-34898813

"Overall, I believe that the shares look like a good bet, with management being a particularly good asset here. What's more, the business is strongly cash generative, with a £16.6 million inflow from operations in 2018, and the current order book represents just over a year's worth of historic revenues.

Notable growth opportunities come from Network Rail's current Control Period 6 (CP6) five-year financial period, which has had £48 billion allocated to its budget, with an increase of around 25% in planned spending on operations, maintenance, support and renewals activities, compared to CP5.

Renew shares have slipped a few percent since the October trading update, which seems unfair given that it was in line with expectations and there were no negative points.

In September this year, analysts at Peel Hunt initiated coverage on the shares and slapped on a 500p target price, implying upside potential of 33%. Top management seems to agree with that view, with the chief executive, chief financial officer and another director recently splashing out a combined £50,000 on buying the shares."

Good to see the price moving up on a couple of relatively small buys, perhaps indicating not much stock around.

Looking forward to seeing MWE present next week.

Nice little in-fill acquisition this morning:

Https://www.investegate.co.uk/afh-fin-group-plc--afhp-/rns/acquisition-of-the-assets-of-groom-associates-llp/201911040700060607S/

Liberum retain their Buy and 568p target price:

Https://investing.thisismoney.co.uk/broker-views/

CAPD's equity investment continues to do very nicely, and the drilling programme is being stepped up:

Https://www.investegate.co.uk/cora-gold-limited--cora-/rns/summary-of-recent-work-programme-at-sanankoro/201911040700040053S/

"We believe that the scale of the structure at Sanankoro is substantial given that drilling to date has only focussed on oxides over less than 20% of the potential mineralised structures on the permit area. Accordingly, we look forward to advancing our Q4 work programme to support this belief; details regarding this will be provided soon. Notably, having raised nearly £2 million in September 2019, Cora is well funded to fast-track these programmes."

Encouraging for the sector - and KWS - that Team17, a "global games label, creative partner and developer of independent ("indie") premium video games", issued this excellent trading update today:

"The Company has continued to experience strong customer traction from both new and established games throughout the second half of the year and now expects both adjusted EBITDA and revenue to be ahead of market expectations for the current year"

Remember the merger of BBA's and GMAA's US charter and management operations - called Signature - into a 50/50 JV in 2017 to form the largest aircraft management business in the country:

Https://www.flightglobal.com/news/articles/bba-and-gama-merge-us-charter-and-management-operati-432834/

This morning BBA confirmed their disposal of Ortic, their MRO operation, for $1,365 million, to concentrate on Signature.

There are some interesting comments:

"Following completion of the Ontic disposal and given the on-going process to dispose of the ERO business, it is expected that the Group will from that point comprise predominantly the market-leading Signature business. This will enable enhanced focus on Signature, which the Board believes to be a significant source of future shareholder value creation. The Board has therefore elected to change the Company's name to "Signature Aviation plc" which will better align it with the Company's most significant brand in its core market. In addition, it will create a stronger and clearer connection of the brand to shareholders and other stakeholders."

"Signature's free cash generative characteristics should allow it to sustain a progressive dividend policy and the potential for ongoing returns of capital, surplus to the investment requirements of the Signature business, while maintaining a strong balance sheet within the target leverage range on a covenant basis."

as "a small, growing company with attractive returns on capital":

Https://www.stockopedia.com/content/can-sdi-group-become-the-next-high-flying-compounder-525036/

More new highs, and a superb finish on Friday night.

The IC article concludes - Buy :o)) I'll just note the conclusion at this stage:

"IC View

discoverIE shares have achieved good momentum this year, but the forecast PE sits just below the peer group average. We feel the group's prospects are considerably better than average, based on the acquisition strategy, margin improvements and presence in several exciting growth markets. Buy."

with buying at 476.5p.

Good to see a £3,500 buy causing the price to tick up, and then a mere £500 buy causing an even bigger mark up!

Hopefully evidence that sellers have disappeared and stock is scarce?

DSCV are a Main Tip in today's IC.....

Https://www.investorschronicle.co.uk/tips-ideas/2019/10/31/buy-into-an-exciting-discoverie/

and the strong finish bodes well for more.

"At the adjusted EBITDA level (relevant for Kape given high non-cash charges) profits grew by 21% to $5.8 million. The balance sheet remained strong with cash of $36.4 million as at 30 June and no debt. The outlook for the second half was positive, with management saying it remains confident in delivering year-on-year growth for the current financial year, in line with market expectations.
Hack into growth

The interim results showed how ambitious Kape is. Comments from chief executive Ido Erlichman, included: “We have significant ambitions for Kape…”and …”we firmly believe much more is possible.” With profitable operations and a large cash backing, I believe that the company looks very well placed for further growth in the personal digital-safety market, which was estimated to be worth $10 billion in 2018.

Kape is currently being valued by the markets at £116 million. For the 2020 financial year, broker Shore Capital is looking for revenues of $83 million, pre-tax profit of $16.3 million and earnings of 9.2 cents (7.33p) per share. It’s worth noting that further earnings visibility comes from the sale of the media division, with Kape receiving a 50% share of EBITDA from the business for the next five years as consideration for the deal.

Assuming targets are met then the forward price earnings multiple is just 10.7 times for 2020. Strip out the cash balances and that falls to a very low eight times, at the bottom end of the wider software and computer-services sector."

Https://masterinvestor.co.uk/equities/what-a-result-great-numbers-from-three-top-performing-small-caps/?utm_source=Daily+Bulletin&utm_campaign=246fbf5634-Daily_Bulletin_20191031&utm_medium=email&utm_term=0_25eff0bb7f-246fbf5634-34898813

"KAPE TECHNOLOGIES

I first covered this next company in the April 2018 edition of this magazine. AIM-listed Kape Technologies (LON:KAPE) is a consumer security software as a service (SaaS) business which changed its name from Crossrider last year to reflect a shift in strategic focus. While the shares are down from 86.5p to the current 78.5p since my initial report, they have surpassed 135p during that time and investors have also enjoyed a special dividend of 3.55p per share. But with two acquisitions recently completed and the business making strong operational progress, I believe the story is worth revisiting.

Kape currently develops and distributes a variety of digital products in the online-security space, offering products which provide online security and privacy. Since my last report, Kape has disposed of its non-core media division, leaving app distribution as the core operating segment. Key subscription-based products include; CyberGhost, an online privacy application; Reimage PC/Mac, which can fix a PC or Mac and restore peak performance via the internet with 24/7 support; and DriveFix, which scans computers for outdated drivers.

Expanding its suite of products, Kape made two complementary acquisitions in 2018, putting to use some of the £45.9 million it raised at IPO in 2014 but hadn’t really touched since. July last year saw the $16 million purchase of Intego, a leading Mac and iOS cybersecurity and malware protection SaaS business, headquartered in Seattle.. Then in October, the company bought ZenMate for €4.8 million. This is a digital privacy company, headquartered in Berlin, focused on encrypting and securing internet connections and protecting individuals’ privacy and digital data.

While Kape announced in July that its interim results would be in line with expectations, the shares oddly fell by around 20% over the next two weeks. Investors had nothing to fear, however, as the final numbers showed revenues up by 24% to $29.9 million for the six months to June.

Kape now has over one million subscribers across its product base, up 24% over the previous year, with the customer-retention ratio improving from 74% at the end of 2018 to 82% - one of the highest in the consumer SaaS space. Notably, recurring revenues more than quadrupled to $21.2 million, providing strong visibility of earnings. Elsewhere, both of the acquired businesses were said to be performing in line with expectations, with $1.7 million in annualised cost savings identified in ZenMate."

today, following the good news re loan facilities:

Https://investing.thisismoney.co.uk/broker-views/

Good news this morning re new loan facility agreements, in particular that these are on "enhanced pricing terms" - i.e cheaper:

Https://uk.advfn.com/stock-market/london/inspired-energy-INSE/share-news/Inspired-Energy-PLC-New-60-million-Banking-Facili/81032324

Looks like more acquisitions are on the way too:

"to provide further headroom to support the continued acceleration of the Group's growth and acquisition strategy"

XLM look very, very cheap at 53p on fundamentals:

this year: 10c EPS, 6c dividend
next year: 12.1c EPS, 7.3c dividend

Plus $24m forecast net cash at the year end, i.e almost 20% of the £99m m/cap.

But investors have obviously reacted to the revenue and margin decline resulting to increased regulation, so sentiment has understandably been against the company.

Hopefully the revised guidance provided by XLM is conservative. If the company can meet those revised expectations and reiterate the forecast upturn next year that should lead to decent upside from here.

Secondly, we may still get further earnings-enhancing acquisitions.

And thirdly there's the USA. The market usually looks forward, so the moment there's concrete evidence of the massive opportunity in the USA being realised then perhaps XLM will follow GAN to a big re-rating, especially given the already relatively solid and highly profitable core business.