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http://www.iii.co.uk/articles/277323/13-top-uk-stocks-dividend-growth

Interesting views, your predictions this would fall further have been prove correct although I can't find anything that implies the stock fundamentals have worsened. Maybe just market risk and the perceived US rate hike.

Hi DrMaccers I read through your analysis with interest. Looking at the share price movements these past few months, would you agree this is mainly attributed to a weak indices and drying up of small-cap buyers? There seem to be a number of AIM-listed earners taking hits for no apparent reason other than the markets are pricing in the FED rate hike (weaker stocks etc). Are you hopeful seeing a drop to 40p range? Surely with results due out by the beginning of next month the share price will recover some of the former lost ground, perhaps 54-55p on the day.

Cash offer looks to be in the bag, very little stock available to the market if 66% of the capital voted in favour of the decision. Another good performer leaves AIM for the right reasons.

Nice set of interims, the pullback may be related to the dividend announcement. Investors factoring in a reduction of cash. Same thing happened with APF a few weeks ago and the stock bottomed after going ex-div

Hope you're around still and enjoying the relief rally :) We're up around 7-8% since ex-dividend period despite commodities weakening. And the dividend to be paid in February

Also comparing MBO to any of the recently listed Chinese start-ups that folded isn't fair considering the company has traded on AIM for over 8 years now and prior to that were trading privately if memory serves me and in that time grown substantially. It's R&D department appears to be were most of the net income ends up which has enabled it the group to diversify it's range of services

True enough, there is a problem with market mechanisms, especially in light of the events at GBO. The issue is then one of trust rather than anything specific with this stock. I've done no more dd here than many of my previous or current investments, a couple of emails back and forth but as private investors there is an element of blind trust when investing your money no question. MBO headquarters are based in KL Malaysia, not too far from where i am based (HK) but for the amount I've invested it's not really worth my time to attempt to set up a meeting with someone senior in the boardroom for an interview. If there was a collective group of interested investors with a serious amount to invest then I would consider a weekend trip and report back. The company is lacking exposure but then results have only recently turned a corner thanks to operational changes. Also comparing MBO to any of the recently listed Chinese start-ups that folded isn't fair considering the company has traded on AIM for over GBO was a case in point that you cannot place your trust in unscrupulous individuals. The largest stakeholder here has increased his holding in the past, not once selling any stock so I don't believe he is out to make a quick buck trade. I don't know the ins and outs of the recent GBO fiasco but never really fancied it as a punt. There are some risks that should be carried by the process rather than individuals, and quite how they managed to pull the wool over investor eyes is a clear signal something needs to change. I'm curious how would someone like yourself or I interpret the the company finances any differently if we are given access only to what the company will allow us to see? Don't get me wrong, I agree with your POV but I can't see how you or I could cross-examine finances unless it was made a mandatory requirement by the government.

Earlier this year VED paid a final dividend of 25.8p. The interims last November gave shareholders approximately two weeks to load up before it went ex-div on the 28th November. It was 14p last year and possibly higher again this time around. We wait and see!

Interims could spark some life into this come the end of the month. What did you make of the outlook statement?

Interesting to note the share price has risen in each of the past three years during the last week of November into December and early January when the Preliminary Results are normally announced.

'plenty of potential' here but less enthusiastic about MBO? RCI turned just RM 0.6m operating profit in the first half, around £90k which is 50% down on the previous year.. on revenues of £1.12m. In comparison MBO turned £220k, 400% up on the previous year. Profit after tax is pretty much the same for both despite the difference in market cap. Cash position of £2m not much great than the comparison (£1.7m) however MBO has generated this through organic means where as RCI raised approx £1.75m back in the summer through a share subscription. If you look at the previous years cash position it's clear RCI was spending more than it was generating (approx £700-800k more) hence the placing to shore up the cash position. Both RCI and MBO traded through the difficult period earlier in the year and it seems both are expecting greater business turnover in the second half the year. The details of agreements and potential payouts sounds promising but the company needs to deliver results rather than potential estimates. The only thing that sets the two apart right now is that RCI have very few liabilities having conducted a placing to shore up their dwindling cash position whilst MBO increased their loans late last year to shore up the balance sheet. Since then in the first half, loans have fallen and the cash position has increased.

Didn't expect new highs again, could be the improving US economic outlook and the likely knock on effects it will have to HAYT's next trading results

There is plenty who believe they will or are hedging their bets (despite the lunacy behind the decision). A rate rise if it comes will have a cooling effect on certain parts of their economy, housing and consumption which accounts for more than 70% of economic output will take a hit if lending becomes more expensive. The big buyers of gold including banks acting on behalf of their governments (Russia, China etc) will continue to buy cheaper dollar priced gold in my view. Bring on December.

There is plenty who believe they will or are hedging their bets (despite the lunacy behind the decision). A rate rise if it comes will have a cooling effect on certain parts of their economy, housing and consumption which accounts for more than 70% of economic output will take a hit if lending becomes more expensive. The big buyers of gold including banks acting on behalf of their governments (Russia, China etc) will continue to buy cheaper dollar priced gold in my view. Bring on December

Terrible company still valued at an eye watering £15.28m. Any CFO selling all their stock knows there are difficulties ahead. Most recent update "anticipates that full year revenues will be in the range of €17.5 - 18.5M". That's roughly £12-13m and according to Edison they will makes losses for the next two years. A$25.7m revenue and a loss before tax of A$15.9m Once losses begin to narrow and the full extent of the damage revealed then it will be worth a look-in otherwise this could easily drop another 20% by year end

~ Kestrel ~ Royalty income at Kestrel was £1.0m in the six months to June 30, 2015 from production of 2.252 Mt of coal (1.956 Mt of hard coking coal and 0.296 Mt of thermal coal). Only 30-35% fell within APF royalty lands. The latest Kestrel forecasts from Rio Tinto reiterated that 70-75% of production was to be within our lands in H215 which is expected to result in much higher royalty income. The update following the release of Rio Tinto's Q3 2015 operations review on October 16, 2015 suggested that despite the lower production rate in Q3 2015 it is expected total production at the Kestrel Mine will recover in the final quarter as the mine ramps up towards "the nameplate longwall capacity of around six million tonnes per annum" Kestrel Mine Q3 2015 production was 0.54 Mt of hard coking coal and 0.11 Mt of thermal coal Q2 2015 production was 0.94 Mt of hard coking coal and 0.18 Mt of thermal coal Forecasts at Kestrel suggests that 50-55% of total production in 2015 will be within the private royalty lands and APF are expecting most of this will accrue in the second half of the year. Revenues are expected to increase in 2016 and the previous guidance of 60-65% of production within the Group's royalty land remains unchanged, rising to 90% in 2017. This upward trend should drive revenue growth over the coming years. ~ Equity investments ~ We continue to hold a small portfolio of equity investments which provide additional liquidity, as required. The largest single holding within this portfolio is Berkeley Energy Limited ("Berkeley"), whose Salamanca project we own a royalty over, and who have made considerable progress in the first half of this year. Lower coking and thermal coal prices and a weakening Australian Dollar impacted revenues and the value of assets but we may be near bottom now.

LLucan - good points raised, certainly not clear at this stage whether APF will generate more than £10m over the course of the year, but £3.8m for the first half was ahead of expectations and a 48% increase on the period last year. Looking at each prospect: ~ Narrabi ~ In the HY report it states Narrabri was "exceeding production estimates in the first six months" with full year ROM production guidance of 7.7mtpa of coal versus 6.5mtpa estimated at the time of acquisition. Approximately half of the royalty income £1.8m came from Narrabri during the first six months 2015. Run of Mine ("ROM") coal production during the period was 4.9 Mt (2014: 2.4 Mt), and saleable coal production was 4.1 Mt (2014: 2.3 Mt). Sales of produced coal totalled 3.9 Mt (2014: 2.3 Mt). In the third quarter Run of Mine ("ROM") coal production for the quarter was 1.0 Mt and sales of 1.6 Mt. So we are up to 5.9 Mt production and 5.5 Mt sales. With the maintenance works complete there should be a solid quarter ahead of around 2-2.2 Mt production and royalty income for the half perhaps in the £1.7-1.8m range. It was expected ROM coal production for the next fiscal year, to 30 June 2016 to be 6.6 Mt to 6.8 Mt, lower than the current ROM of 7.7 Mt due to maintenance works ('wall change outs') however Whitehaven sold down inventories in the last quarter and have forecast Narrabri fiscal year 2016 coal sales to exceed the ROM coal production guidance of 6.6 Mt to 6.8 Mt. Long term they are looking at widening the longwall face at Narrabri to 400m panels in H2 FY2017 in a move expected to increase production and reduce operating costs at the mine.

Yesterdays update was a timely reminder to take up the near 6% equivalent interim dividend.

Accounts for easy comparison. http://shareminator.blogspot.co.uk/2015/10/mobilityones-half-year-performance.html