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The Northern 3 VCT trading statement just out indicates they've bought around £500,000 ACM in the last 3 months (and similarly HAYT, which I also own): Http://www.investegate.co.uk/northern-3-vct-plc--ntn-/gnw/interim-management-statement/20140717120435H8730/

Excellent H1 trading statement - and the confidence going forward shines through. Looks like more news flow coming soon with the Chairman's comment re updating the market on strategy - hopefully more acquisitions from the $60m cash pile.

The broker forecast for the current year to 30/6/15 has now been increased to 30p EPS, up from 26.3p EPS two weeks ago, with 20p EPS forecast for the year just ended. A reasonable multiple of only 12 would give a 360p share price on 30p EPS. A more ambitious multiple given the growth here would see the share price at 450p-500p. And that's without taking into account the cash pile.

Hi djone. No advice, but I've got a decent stake in SOM, put it that way! The next results should show, per the recent trading statement, that SOM is experiencing terrific worldwide growth and is on a cheap rating imho. Lots of cash to spend too.

EK has just bought another 200,000 OMI and wants a dividend.... Http://theevildiaries.com/ "I bought 200,000 Orosur (OMI) at 16.5p on the basis of the Cantor note issued a couple of days ago. This stock really is cheap. All I want the management to do is to pay a trifling 1p dividend: I am going to have a go at pressing for it - if necessary calling for an EGM. It's our company, not theirs. Incidentally, there is stock to come out as a result of the Waymar acquisition. I think that this presents an opportunity in a tight market."

Canaccord have initiated coverage with a Buy, saying that OMI is worth 32p, double the current price.... http://www.proactiveinvestors.co.uk/companies/news/70347/orosur-mining-shares-worth-double-current-value-says-broker-70347.html "Orosur Mining shares worth double current value, says broker By Ian Lyall July 14 2014, 12:31pm Orosur Mining’s (LON:OMI) shares are worth more than double their current value, according to City broker Cantor Fitzgerald, which initiated coverage of the London-listed Uruguayan gold miner with a ‘buy’ recommendation and 32p a share valuation. In a note entitled 'Gold to the South, Share Price Heading North', analyst Asa Bridle highlighted that the potential is just not being recognised by the current share price of 15.65p. “Orosur’s maturity and potential as a gold producer and explorer is wholly disguised by its current market value in our view,” Bridle said in a note to clients. “With production, profits and significant exploration upside, we believe OMI has considerable appeal.” The company owns San Gregorio, Uruguay’s only producing gold mine, which is expected to excavate and process 55-60,000 ounces of the precious metal this year. Last week it completed the acquisition of Canadian junior Waymar Resources in a deal that Orosur says will create the “premier South American gold exploration, development and production company”. The all-stock deal valued the business at £2mln but brought into the portfolio a hugely promising asset in the form of the Anzá gold project in Colombia. Covering an area of 23,100 hectares, it is situated in the prolific Mid-Cauca gold belt, 50 kilometres west of the city of Medellín. Geologists believe they have made a brand new discovery, perhaps of a new type of high-grade gold deposit (plus silver, zinc and copper). Drilling has uncovered a 15 metre section at 40 grams per tonne of gold and 41 metres of 14 grams per tonne. Orosur chief executive Ignacio Salazar told investors recently: “The Anzá gold exploration project is an attractive high grade asset with significant upside which, set alongside our San Gregorio Mine and Pantanillo and Anillo projects is a major step towards the creation of a strong and diversified gold company with a well balanced mix of existing production, exciting exploration and advanced development projects in South America.” The Cantor note, meanwhile, looked purely at the potential of the current producing mine. It reckons investors had been put off the stock after a fall in the mine margin from 2011 through to last year. However analyst Bridle points out cash costs have been reduced and production is set to be ‘solid’. He is predicting a pre-tax profit of US$7.7mln this year, rising to US$9.5mln next and then US$17mln in 2016. “We expect profitability to increase significantly

Today's is a perfectly good H1 trading statement and a buying opportunity imho: - "good trading in the year to date" - "healthy levels of order enquiry" - "confident that Thalassa will deliver another satisfactory performance for the year" Great to see such confidence at such an early stage of the year. Above all, the share price is now extremely good value imho for such a fast-growing company with such potential, especially stripping out the mountain of cash. The market is miserable at present, and no doubt a few PIs had bought over-optimistically in expecting some ridiculously bullish statement, causing them to sell off this morning. From WH Ireland this morning - Buy with a 400p target price: "Thalassa Holdings*# - BUY Market Cap: £49.6m; Current Price: 197p; Target Price: 400p Trading update and relocation of UK operations Thalassa has this morning provided a brief update for the six months to 30 June 2014. The group is reported to have experienced ‘good trading’ during the period and continues to experience a healthy level of order enquiries. As such, the board remains confident that Thalassa will deliver another satisfactory performance for the current financial year. In addition, it has also been announced that the group intends to lease a new office with improved transportation links in order to attract new staff and maintain the company’s growth over the coming years. The shares have been weak of late, now trading on a FY 2014E cash adjusted PER of 13.2x and EV/EBITDA of 9.6x. However, we believe that the business continues to be extremely well positioned to deliver further significant growth over the next few years given the ability to provide bespoke, cost effective solutions to oil majors in the offshore seismic market."

To quote from LRM's recent results, they are "developing a market-leading solution to satisfy the regulatory requirements of the European Banking Authority's Common Reporting and in the new Optimisation module for the COLLINE® product family". They've also introduced "a new product, Compliance Assessor". All of these seem to be "genuinely new products", in particular the ones to meet new regulatory requirements. When LRM start to receive revenues for these products they will begin expensing the costs. That's the way the accounting rules work and which almost companies all abide by.

It's good news that H1'13 was weak - that means that the upcoming H1 will look even better in comparison. There is no "should" about it as regards capitalising R& D, especially if the matching revenue is set to come through in the future. There are arguments that they could be extra-prudent and do so, but that's another matter. As it is, most companies abide by the standard accounting rules, as LRM do, and capitalise until appropriate to match.

Excellent AGM statement today - particularly liking the "recent new licence wins and additional new orders", with trading ahead of last year and on target for current year forecasts: Http://www.investegate.co.uk/lombard-risk-mngment--lrm-/rns/agm-statement/201407090700097981L/

XLM does a lot of business via 888, so today's 888 trading statement makes rather a good read.... Http://www.investegate.co.uk/888-holdings-plc--888-/rns/trading-update/201407090700097951L/ "During the first six months of the year, 888 has continued to deliver a very strong performance and anticipates announcing EBITDA for the period significantly ahead of the comparable period in the prior year."

This overnight tip should attract some attention... Http://www.-.com/blog/james-faulkners-small-cap-of-the-week-optimal-payments.html "James Faulkner's Small Cap of the Week: Optimal Payments Posted on DateMonday, July 7, 2014 at 3:20PM In its earlier incarnation as NETELLER, Optimal Payments (OPAY) was forced to withdraw from the US eWallet market, to the ire of shareholders. However, it has repositioned itself as a provider of online payment services, with a particularly strong presence in the fast growing Asian markets and a recently established bridgehead back into the US.

Superb - and very positive - article Lancygeo, many thanks. I've copied it elsewhere.

On a current year P/E of just 8.5 based on 12.4p EPS, buybacks are an obvious way of enhancing EPS and shareholder value. And taking the cash pile into account the P/E probably falls to 7.5 or so... Nice 50k buy just reported. Last year's Q1 trading statement was on 29th July, so not long to go. And it should look very good, as last year's was lacklustre before business picked up from thereonin.

Nice start today, though still short of the 16.5p close in Canada after Friday's excellent rise - which most intriguingly was on excellent volumes.

Excellent news - an earnings-enhancing acquisition..... XLMedia PLC 07 July 2014 For immediate release 7(th) July 2014 XLMedia plc ("XLMedia" or "the Group") Acquisition of Affiliate Network XLMedia (AIM: XLM), a provider of digital performance marketing services, is pleased to announce that it has acquired a leading Scandinavian website network within the online gaming sector for a cash consideration of US$2.3 million. The acquisition is expected to be earnings accretive during the year ending 31 December 2014. The network reviews a large number of online casino and poker websites, mainly in Denmark, generating high value added content. This enables it to refer significant amounts of customers to its partner brands. The acquisition represents an attractive opportunity for the Group, offering a complementary geographic footprint to XLMedia's existing Scandinavian presence and extending its reach into Denmark, a fully regulated market. The acquisition follows two acquisitions of domains in the North American market during H1 2014, also aimed at extending into new territories and further establishing a presence in fully regulated markets. The Group will continue to buy domains and websites as part of its ongoing growth strategy as well as continuing to evaluate an increased presence in fully regulated markets. Commenting on the acquisition, CEO, Ory Weihs said, "Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector. This acquisition represents a complementary fit for our business, strengthening our reach in Scandinavia and providing entry into Denmark, a fully regulated territory.

Hardman have today issued their July monthly newsletter, and it includes an upgrade in the forecasts for LRM. Plus the AGM is coming up on 9th July, and judging by the outlook in the finals it should be pretty good: Http://www.hardmanandco.com/sites/default/files/research_papers/July%20Monthly%202014_0.pdf?utm_source=Email+Campaign&utm_medium=email&utm_campaign=29208-236220-July+Monthly+14 "Lombard Risk reported good results on 13th May, profits and revenue ahead of expectations. The AGM will take place on 9th July. It posted a record backlog stood at £5.2m (+18%). FY14 featured a signing of a number of Tier 1 banking clients and strong expansion in Japan. Revenue growth: All FY14 22% revenue growth achieved was organic (up from 18% organic prior year). 2H14 came in strongly, at 44% up on previously record half year. 2H14 revenue was £13.1m vs a full year FY13 of £16.8m. There was an element of ‘catch-up’ from H1, nonetheless the backlog (order book revenue to come from orders in hand) at year end leads us to raise estimates. Lombard Risks fulfils mandatory regulatory requirements for its financial sector clients and regulation rises (though there were delays to the regulator implementing a key stage until next month). Revenue from alliances should start to become meaningful. Upgrade to revenue numbers: FY14 achieved £20.4m (£19.0m estimated). We raise sales FY15E 6% to £22.5m. 61% is recurring revenue plus the order backlog, a strong ratio. Indeed in FY14 there was a strong focus on entirely new business so order book conversion and underlying trend of repeat work and projects should do well in FY15E. We also have strong anticipation based on extending FY14 ‘beach-head’ wins for growth in North America and Japan. Upgrade to profit numbers: FY14 achieved £4.4m; had estimated £3.8m. We upgrade FY15E from £4.6m to £5.0m. With gross margins near 100% and high investment for growth in FY14, we see EBITDA margins expanding FY15 from 29.0% FY14 to 34.7% FY15E. This (allied to software amortisation conservatively rising from £1.6m to £2.8m) translates to a rise in PBT to £5.0m, 14% growth on FY14 just reported. So as costs were taken on (technology product development) in FY14, EBITDA rose 12% but we estimate a 32% rise in FY15E. Investment for the future: Technology spend stood at £7.1m, up from £4.5m in FY12."

Good news - Canaccord have today raised their target price to 142p. Don't know if they've raised their forecasts yet, but imo they're still being conservative as regards their price target: Http://contacto-latino.com/en/news/201402/102838475/canaccord-raises-somero-price-target-to-142-134-pence-buy/

Good to see PG has increased by 2,030,000 shares. PG had 34,381,026 shares per his last holdings RNS on 7th April, and now he has 36,411,026, or just above 16%: http://www.investegate.co.uk/trap-oil-group-plc--trap-/rns/holding-s--in-company/201407021237062291L/

More like a superstar stock imho - have you seen the chart over the last couple of years?!! The lack of a big PI following is a big bonus, cutting down on volatility and leaving long-term investors in for a nice easy ride. The current price seems like a bargain imho. "Comfortably ahead" means SOM must be looking at a minimum of 11p EPS this year and possibly a lot more, say 13p EPS. Plus they should have say a $10m cash pile at the year end. This will of course feed a nice dividend increase, and product development, but I wonder if SOM might undertake an acquisitions or two?