Member Info for schlemiel

SolGold PLC US$750M Financing Package for the Cascabel Project

NM

A fine team though England. They'll get it right, eventually

It's the placing flippers but the company's now in great financial and operational shape and over time that's what's really important

When a company starts aggressively cleaning up its balance sheet in the way CPI is doing then it's time to get on board for the ride.

Take a look at Ashtead Group back in March 2003. The company was on the verge of bankruptcy and had to defer interest payments to survive. Then the recovery started and the price went from 2p all the way up to £60, now at £52. That is what happens when the CEO commits to cleaning up a company finances and refining its operations

Kane shouldn't even have been at the tournament. A donkey

Debt stripped away to clean up the balance sheet. The market loves this type of corporate action.

Costs stripped away to up margins.

Business streamlined with focus on higher margin contracts

Digitalisation to extract greater value

All points to a CEO who recognises that what needs to be done needs to be done asap. The market will see the sense of urgency and refocus on equity promotion.

I reckon the CEO wants to achieve the rating of a tech company but that's going to need a refocus on changing the process of how revenues are generated ie less people, more software based processes

Https://www.ai-online.com/2024/07/the-new-magna-paradigm-for-driver-monitoring-systems/

requires registration, free

What would be a commercial flow rate from the upcoming extended well test?

I can see this stock 'doing a Greatland Gold' if commercial flow rates materialise.

Thanks

Never confuse profit with cash. The two are different. Profit is a nominal book figure, a mere accounting number subject to various changes for tax purposes but cash is real, cold hard cash, the lifeblood of any business without which the business dies.

Free cash flow (FCF) (inflow) is when a company generates more cash than it spends ie more cash in than cash out. A cash outflow is more cash leaving the business than coming into the business, which if left will kill the company

Tuesday opened with interesting news from Capita, CPI – another Richard Staveley Rockwood Strategic stable horse.

I saw these moving up on Monday but ignored them unfortunately, even though I had listened to what Staveley had said, it looked like punters just driving the price. On Tuesday they announced they had disposed of part of the company:

It still has to go through and meet certain terms but it looks pretty straight forward

On this basis they lose a small bit of profit, about £21m of EBITDA for £200m+ which will reduce their debt a lot. The business looks far more attractive on that basis and the shares roared up from 15p to 19p. Interestingly, Staveley was saying only just last week on Vox that he believes the business is worth more than double it’s valuation as there are several disposals like this they can make that would be enhancing to the value of the company. This web interview is worth watching, Capita is the first one up, it also includes Filtronic and Funding Circle further in:

Capita has a pretty recent change to CEO and CFO which I like to see, the new CEO bought 650k shares in March and a non exec buying a decent amount too.. They have also done a deal which means they stop paying into the pension over the next year. Staveley also mentions that the debt figure includes a lot of leases that the new CEO plans to sell off a number of – so the debt is less worrisome than many may have thought. All in all with the disposal, Staveley buying recently, new CEO and CFO, the positive chart move and finally worthwhile action on disposals and pension all say to me this is an interesting stock and I’ve been buying a position that I’ll likely increases going forward if everything goes well. There is also just 12% dilution over the past 5 years – a 5 year chart below.

The June 15th trading update carried a link to a webcast – I watched it and couldn’t help thinking how similar this was to RR. and Turbo Tufan’s presentation, down to the new CEO bringing his female sidekick with him to the company. Worth watching:

https://webcast.openbriefing.com/capita-cmd24/.

Interestingly, after the disposal their doesn’t seem to be earnings downgrades. Currently, the forecasts are for 2.95p eps this year and 3.96p for 2025. There has only been circa10% dilution from 2018 where they were achieving 22.5p eps so around 20p eps with that dilution. 3.96p eps next year would be a PE of 5.2. I like recovery plays where you can see huge previous earnings and little dilution, it sort of lets you feel where the shares could go based on historic performance, if they can regain previous margins imo. I now have a 5%+ holding. In what looks like could be an OBIAY imo, but I would say that so do your own research.

end

**** = C-O-C-K ney

https://****neyrebel.substack.com/p/the-weekend-rebel-review-13th-july?r=29huk7&utm_campaign=post&utm_medium=web&triedredirect=true

CPI is a main market listed, SETS stock. Therefore anyone with access to the DMA order book can post buy and sell orders. Market Makers do not determine quotes as they do fully on SEAQ or partially SETSqx

Https://au.linkedin.com/jobs/view/derrickhand-darwin-australia-at-helmerich-payne-3972628500

Duties

H&P Australia is seeking a Derrickhand for our Beetaloo Basin (0852) drilling project. The primary duties will include but are not limited to the following:

The Derrickhand is primarily responsible for the mud system and associated equipment, but not limited to performing various manual labor tasks throughout the rig site.

Demonstrate core values and safety standards according to the H&P way

Welcome and mentor incoming Floorhands

Monitors the performance of the mud pumps and performs exchange of expendable items as required, as well as general maintenance of pumps

Properly locks out and tags equipment on mud system during repairs and other activities that require isolation of equipment

Oversee condition and basic analysis of drilling fluid in active and reserve mud system of rig as per the direction of customer and customer supplies service companies

Monitor pit (mud tank) fluid level, transfer fluids in and out of rig mud system, maintain the condition of the solids control equipment and high and low pressure piping, arrange valves of all tanks and associated pumping equipment, and monitor the flow output from well bore to mud system

Direct roughnecks and roustabouts during repairs and general maintenance of mud system related equipment

Report and advise driller of any change of status regarding drilling fluid – in terms of volume, flow input, flow output, temperature, contamination, cuttings anomalies, abnormal flow properties, and leaks

Provide inventory of necessary chemicals and fluids utilized for treatment of drilling fluids to Operator representative

Report and advise driller of any change of status to pumping equipment, solids removal equipment, mud mixing equipment, cuttings handling equipment

Perform daily, weekly, and monthly service to overhead equipment in mast used to hoist tubular product in and out of well bore

Positions themself +/- 100 feet above ground level at derrick board during tripping operations for the purpose of racking and removing tubulars in mast

Perform visual inspection of all equipment from rig floor to top of crown section taking remedial action to rectify any situation requiring repair and reports such action immediately to driller

Demonstrate complete understanding of rig well control equipment (BOPE) with ability to function any aspect of equipment at driller’s command

Operate rig and systems from control panel to maximize drilling and tripping efficiency; supervise operations on the rig floor

Monitor and ensure proper well control practices are followed as per H&P operating procedure

Ensure compliance with all relevant H&P policies

Up to date on current Workday trainings as assigned

I don't think K78 from ADVFN is too far from the mark with his thoughts :

'Oldtimer, I entirely agree with you. A new CEO is always energetic and looking in from the outside. Repaying a large chuck of debt by a big disposal is the right decision, getting 10 years worth of cash flow upfront. There must be more disposals (smaller ones) which together, will wipe out the company's debt (other than committed leases retained in the group). By that stage CPI will be a lean and mean machine. It is like starting all over again, but learning the lessons, will probably focus on technology areas.

CPI will be substantially rerated if it is considered as a technology company in its new form (this would be my way of thinking about the direction of business). One never say never, it may even gain entry back into the FTSE100 one day.'

Further unlocking of value through sale of non-core assets, pay back debt, strip away unnecessary costs and relabel as a tech company rather than pure outsourcing...that really would put a rocket under the company's equity value

That's Friday profit taking for you

180k at .2150p

There's no stopping her at present

Amo

Cheers fella