Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
AGM is being held on 29th Sept and they issued a trading update last year to coinside with the AGM. Perhaps we shall get some more detail then and it would be nice if a few new contracts were announced to help soften the blow.
Perhaps that is why the Financial Director resigned at the end of July. I think that they could now be vulnerable to a takeover offer at a low price, especially from a US operator. I still have 200,000 of these, having bought at 6p and top sliced along the way, so the company owe me nothing and I am sure and hope that they will recover from this small setback, a well run company with a great future.
We are down today at a time when our revenue from the US is increasing while the pound is down against the dollar which will lead to our profits increasing, strange.
I have held IOM for a number of years and in the past the share price has dropped after the results almost every year from what I can remember. This year it has gone up and I note that liontrust have announced today that they have increased their holding to over 15%, very interesting.
More excellent progress looks like there should be good progress in second half.
Another great set of results, Finncap have raised price target from 340 to 360.
In next few days, fingers crossed
Spike, I first tried to buy after listening to Jose's presentation at the Shares conference, then having a chat with him later. The most that I could buy was a couple of lots of 30,000 shares but I did manage to get 40,000 the other day. Your might be better to split your order and just pay two lots of commission. The other side is that they will be just as hard to sell if it does not go well, however I was impressed by his enthusiasm.
Thoth2, I am hoping that it is under the radar due to the low market cap, if we can move into profit then I think there could be a very good re-rate, in view of all the contracts and grants announced over the past nine months or so I think we have a decent chance and I have invested big time for me.
Fincap have increased their target price from 290 to 340. Peel Hunt have increased their target price from 300 to 315. Positive reaction from the brokers, I have been in Iom for about 7 years, since 46p, and it is worth bearing in mind that the price usually falls after the results and recovers a few weeks later.
Gordo, I agree going great, I think that there could be a couple of reasons for the rise. Firstly Theresa May made an announcement yesterday that companies would have to retain customer data for minimum of a year, which will need more data storage. Secondly Rachspace had an RNS today about a survey which points to boardrooms rather than IT making the decision to move to the cloud. You should be able to google both items.
9th Dec last year and 10th Dec the previous year so I would imagine that it would be around the same time.
Sounds good should have a Hurricane behind it. Thorpe moonlighting in Palma.
I thought the results were excellent as well. The takeover looks good as well plenty of cross selling opertunities and cost savings. One interesting point is that the combined value of both companies should put them in the top 100 on aim which may lead to buying by tracker funds, probably not a big deal but it all helps.
Could just be reaction due to Telecity takeover announced today. Similar sector. Would love to see another bid though
Iomart has invested in datacentre space and infrastructure on the East and West coasts of the United States and through it's relationship with Tier 1 storage hardware solurions vendor EMC, the group has developed a new revenue stream managing backup and compute systems for customers in the US from it's Network Operations Centre in Glasgow. EMC has selected Iomart as its European partner for the launch of EMC Enterprise Hybrid Cloud. EMC are listed on the NYSE and have a market cap of 60.8 billion. Hope they want to expand on the partnership at some point.
For me I think that the main reason for the share price fall was one line in the Rns. "We have seen a modest increase in customer churn in one of our hosting divisions" Previously the talk had been of them having "sticky customers", it may be that they are facing increased competition, apart from that I thought the figures were good and maintain the ever increasing revenue and profits. I would point out that a couple of years ago they were trading on 16 times EBITDA and if the same applied today the share proce would be 448, maybe they were overpriced then. The other big plus point is the cashflow of 13.5 million for the six months, this means that they are trading at around seven times cashflow and as the Data Centres use up their spare capacity the cash flow will just get better whoch is what makes them attractive to private equity. I have held IOM for 6 or 7 years and one thing I have noticed is that the shares seem to go down every time with good results and recover over the next few weeks. Good luck LK
Very impressed with set of results and the outlook for the future, I have held this share since the 6/7p days. The outlook for the US looks really good, so many UK companies go to the US and make a mess of it Tesco for example, so to go there and do well will no doubt put them in the shop window.
IMS was issued on 15th November last year, so wirh a bit of luck we should have news in a couple of weeks. Could they say that they are moving to smaller premises as the stockroom is now empty?
I see from the Iomart website that BTL have picked up a nice contract with Pernod Ricard, brands include Absolut Vodka, Chivas Regal, Ballantynes, Jamiesons, Beefeater, Malibu etc. The contract is to centralise it's data protection for Europe, Africa and the Middle East. A few of them would be nice.