Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
lots of buys coming through now ... looks like more people are spotting the value in this one ... or Lennie, have you been getting your friends to support your push for Hamleys? Either way .... the bet stands .. this gets back to 40 before Christmas and Lennie's going toy shopping (ps do you have kids or have you got your eye on a new train set?)
Lennie, good spot. Have you also had a look at the half year report and the cash flow. Cash might be 5m less but trade and other receivables is up almost 5m and there is almost 2m more inventory. (nb at this ridiculous share price, cash balance has almost been same as market cap this week). I am strapping in for the ride to the 30's before the month is out
Lennie - looks like your shopping bag is full anyway with 100k at 26p But ... yep, if the share price gets back to 40p before Christmas then I'll get you a private tour of Hamleys
Lennie - don't worry about the share price today .. volume is still tiny .. the institutional investors aren't getting caught up in it. The true read is what the pros (analysts) think .. "Investec hoisted their price target on shares of Enteq Upstream PLC (LON:NTQ) from GBX 62 ($0.97) to GBX 64 ($1.00) in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. " Jolly - if you are looking for a cheap buy-in price then good for you. I am buying more today as well Lennie & Jolly - If this share goes back to 40p + before Christmas as I know it can then I'm buying you both pre-Christmas Lunch with the profits ... Gaucho Grill off Regent Street and a trip to Hamleys afterwards if you are anywhere near London
What's happened to you two, Lennie & Jolly, I pop off for 48 hours day trading QPP (a scary ride) and when I get back you have half lost the faith? Don't forget .. management bought in September at 32.7p; results on 14th Oct were in-line with expectations (as below), they have $14m of cash (even with a little sandbagging on inventory) and market cap is only £16m. Looking at the small number of transactions, you two may have been the majority of trades & knocked 2p off the share price (as its currently illiquid). Hence have put my money where my mouth is and bought some more ready for the full results on 18th!! "Enteq, the oilfieldservices technology and equipment supplier, confirms that trading for the six months ended 30 September 2014 has been in-line with management's full-year expectations. Revenues were approximately 45% of the full year's expectation with gross margins and overhead as planned. Net cash in the business remains at approximately $14m following some investment in inventory, rental assets and further platforms for growth"
Good work on COP. I like SQZ - did well out of the rise to 15p a couple of months back and am still in with 1/3rd on the hope of good news to come from the drill. My pain is in AZO ... in at c.1.2p, could have sold out at 2.5p but held 2/3rds all the way down to 0.5p. Very little support but doesn't look like it will go bust so am waiting. NTQ continuing to behave ... hopefully will nudge through 30 over the next week or two
Lennie, yep I am still in OVG ... starting to come good in last month - management doing something at last with the cash pile (share buy-back). Market Cap is still well under asset value but its Russian and not much of a free float so some investors wary. Are you in OVG yourself or just looking? I am hoping for 13-14p but its a slow share. NTQ having a breather today .. hopefully a lot more to come. I agree with your 32p level being key but think it could push through towards the 40's of the first part of 2014 (after the normal panic inducing wobbles back to sub 30). What else are you in? Slow
I've got 100k ... so only 2.9m to find!! ... A good day today on NTQ .. hopefully a fair bit more to come. I could do with it to balance out losses elsewhere. We'll try and keep you company for a bit Lennie if you're feeling lonely
Have you had a reply yet? Something may be up / about to come out ... 350k shares bought today out of the blue(average volume 1500!!) .... hopefully the underlying value in this share will be finally realised
Yep, I am still being patient ... OVG's time will come (its got too much cash & assets for the share price to stay this low in the longer term)
Not a lot (yet) unfortunately ... it's not got a massive free float. It's a mid to long term bet for me on the basis that it is significantly undervalued IMO vs its cash pile, shares in Polymetal from a previous sale and assets. As per some of the messages on this board, some people feel its lack of news flow and illiquid shares (+lack of trust for Russian companies) mean it is unlikely to move upwards. I guess the reality is that when/if the share gets noticed and people start buying it will jump up as there is little stock available however for this to happen it has to get noticed and investors have to agree with the undervaluation. I am holding as I think it will happen but others aren't.
Many thanks
Thanks Elite ... sounds like you have had a good look at the share. Am sure you saw the RNS (resource update) on 22nd ... didn't look too bad to me but can see that they haven't done many updates in the past. Hopefully this is a sign of more communication and the bottom for this share. At the current market cap of £7.5m they have got to burn an awful lot of cash (£14m of the £16m) in 2013 to get cash + share= market cap (ignoring their other assets). I think I am going to take a punt (nothing silly) but I want to be in it when it shoots up
Thanks ChameleonMan ... have had a look but come up with 2 thoughts/questions about whether OVG is massively undervalued: 1. If you reduce net assets for the £18m intangible assets (worst case scenario) you still have c.20p a share (ie way over the current sp) ... and cash + Poly shares still gives you 20p a share 2. 2012 had a big uptick in Other current assets and other current liabilities .. could this have been the Olcha sale as it was over year end 2012 .. or are management buying up equipment that they haven't paid for yet (that will subsequently use up a big chunk of the cash pile) Clearly the answer to the latter might explain why the share price is so low but it feels to me like it could be an unloved, unnoticed bargain What do you think?
OVG got flagged over on the POG board .... can anyone here explain OVG market cap £7.6m but cash = £16m and Poly shares of almost £9m (@£6). Last available cash burn (2012) wasn't huge ... what am I missing?