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Yup ... would have been quids in if sold just prior to Ex-Divi earlier this year ... SP collapsed as timing was unfortunate ... perfect storm so to speak !! Anyway, why not just load up with these in an ISA (I have) ... that way you don't pay tax on any dividends. Would be just my luck that if I sold half of my holding just before Ex date, the soddin thing would just keep going up ... sods law as it were. RSA is my favourite long term income play, I also thrown in a few CSN, CGL & GNC for good measure ... LOL a bit heavy into insurance .. PF is screwed if there is another sunami or similar !!!!
UK Coal (LSE: UKC) had sold its coal mine methane (CMM) subsidiary Harworth Power for £20.3m to Red Rose Infrastructure. Harworth Power had approximately 26MW of CMM capacity, which generated £5.5m revenues and £2.4m EBITDA in FY’11. This acquisition demonstrates two key points...(1) ALK is undervalued in the market & (2) ALK's Greenpark acquisition was extremely good value : 1) Harworth Power is being sold on an Acquisition Cost/MW multiple of 0.78x, Acquisition Cost/Revenue (FY’11) of 3.69x and Acquisition Cost/EBITDA (FY’11) of 8.46x. Applying these multiples to our FY’12 estimates for ALK provides a valuation range of £28.9m - £53.7m for ALK’s CMM operations, representing a TP range of 29p - 53p. (2) Excluding the acquired power response capacity (which at ~21MW was considerable), ALK’s acquisition of Greenpark looks particularly good value in light of the Harworth Power disposal. It was completed on an acquisition Cost/MW (CMM only) of 0.72x, Acquisition Cost/Revenue (all revenue) of 1.68x and Acquisition Cost/EBITDA (all EBITDA) of 3.0x, all significantly lower than Red Rose paid for Harworth Power.
18.00-18.50 would be good price to add more IMO. I think that an update regarding integration of wider business would be most welcome .. 2013 earnings estimate at just under 4p which based on historical multiples (Bear in mind that these were based on much smaller commercial footprint) would offer SP target ca. 40p - 42p Do NOT allow short term retraces frustrate or motivate into selling, one should hold tight and look to the future (Not too distant future at that) and if you have funds available then I would say that all indicators point to ALK being a STRONG BUY at price I state above. Walkley raises some very important points relating to ALK's forward sold positions, effectively ALK have locked a large part of what is expected to be earned during the next 12 months or so ... only variables remaining is how much energy is produced and how much they spend along the way. Take a look at the 1,2,3,5 year charts with std deviation trendline selcted .... trend direction should offer some comfort ? Keep the faith ;o)
Holdings RNS the earlier in the week suggested Aviva were reducing their holding (Now below 5% threshold), I think that this fact plus the wider market panic served to offer the MMs a perfect oppertunity to turn us upside down and give us a good old fashioned shake !!! Greenpark should deliver additional £1.9m EBIT (assuming that the enlarged business doesnt make any efficiency savings) ... and it adds £9m worth of assets to the balance sheet !! I agree that once things have bedded in a bit and management (and analysts) have had chance to carefully reforecast performance then we should see sensible rewards in here. As I see it anything less than 22p is chronically undervalued here all things considered !!
Now that's how you shake a few out ... I can't believe that there is anything more worrying going on here ! So soon after acquiring Greenpark it is unlikely that ALK would be looking to secure additional funding etc. (SP suicide to be asking for money against current market backdrop). My thoughts ...HOLD TIGHT and exploit the drops to add more (NAV is ca 19p) !!!!!!!!!!!!! Keep the faith. Wooly ;o)
MASSIVE ... 2 x 1m BUYS thats huge !! Can anyone shed any light on this ... shorts being closed or something more significant maybe ?? Note : At least these buys have heled us to break the 86p barrier ... it took some time & effort !
9.57% dividend ... fill ya boots people !! Tucked a few of these away in my ISA prior to recent Ex-Divi date .... am VERY close to adding some more, it seems almost rude not too (or am I missing something ??)
88p paid today yet still managed to reign us back to rest bang on the 86p line at close !! We keep testing the resistance, its got to give eventually.
Flirted with the heady heights of 88p today on back of strong volumes ... but still managed to hold us back to 84p at close. It must be let lose eventually ... no ??
we enter into a period of order filling and share swapping .... come on guys just get on and do the right thing... time to mover her up a few notches please !! I see TEG are introducing bidders to the detail behind their business .... hmmm ... might we go it alone into the wonderful world of AD & Biogas to energy ?? Revised my near-term target down to 25p (Still believe we can do 28-32p with the right decisions & newsflow) !! Good luck 'ALKies' ... oh, thats not such a great nickname but it will do for now. Cheers Wooly
Ouch ... bumped our head at 86p AGAIN !! Come on CLF you can break this barrier and try using it as the floor rather than the ceiling !!
Saw this and thought of us... http://www.uts-biogas.com/en/plants/tritonr-system/tritonr-movie.html I love this technology, quite litterally turns cr@p into cash !!!!
@ 86p ... once we break this price next stop is mid 90p.
very generally speaking, the number of shares bought by directors (in very small batches) tends to match SP that is eventually achieved on spike ? latest bunch were in 120 share lots ... fingers crossed as I topped up my ISA with a few more of these yesterday !!
Current price over-discounted (Poor sentiment maybe due to civil unrest risk & cash drain due to construction/mine development) http://www.youtube.com/watch?v=9xqRmKElHwo&feature=plcp&context=C4aa3045VDvjVQa1PpcFPDPKV-OuknW6_eeEzoTb3xoaDx_7uyj2s=
In the last couple of weeks we have had significant news regarding CMM & CBM .... all we need for a clean sweep is an interesting update on Biogas/AD and confirmation that we are set to extend our tolling operations !! Biogas/AD - Our JV partner in this sector (TEG) has offered themselves for sale recently, might we be interested ? http://www.investegate.co.uk/Article.aspx?id=201201260800021985W G2E Tolling - Victoria Oil & Gas Plc (VOG) are in the process of installing 35km pipeline and connecting up new customers to their huge natural gas resources in the industrial heartland of Cameroon, they are also making a lot of noise regarding urgent need for G2E tolling equipment/partners in this region owing to unreliable local grid service. Maybe ALK should have a word as to my mind we are pretty darn good at it plus our UK tolling customer GDF Suez is also active in Cameroon and intend to build a massive natureal gas and condensate refinery nearer the coast. http://www.victoriaoilandgas.com/presentation/2012-01-24/investor-presentation-january-2012 http://www.victoriaoilandgas.com/logbaba-project-update/2012-02-13/january-progress I realise that Cameroon isn't exactly on our doorstep, but ALK have experience of overseas partnerships (Germany) and maybe our contacts within GDF Suez might be able to assist ? LOL - Its great in my world - LOL !!! GLA Wooly ;o)
Stuck a few away in my ISA. This is my first time in CSN and have done so mainly as it looks to me as if it is approaching being 'Technically' oversold plus if the company maintain dividend payments at recent levels then I for one am quite happy to be on board. GLA Wooly ;o)
20,000 shares bought today at ave £0.93 per share by Tim Wadeson (Non Exec Director). http://www.investegate.co.uk/Article.aspx?id=20120214132424M0466