Capital Share Discussion Threads

[matthew_88] 30/10/2013 08:09

Market aren't enamoured by the IMS, although it dropped too severely initially and its now picking up.

I actually think it was still fairly positive in the grand scheme of things, any company that can remain cash flow positive in its poorest ever quarter is doing something right.

There a million and one companies who claim to be doing great yet aren't cash flow positive.

I guess the companies that do 'OK' in the bad times, will end up doing fantastic in the good times :)

[pugugly] 30/10/2013 08:08

Indeed a fall(back to 17.5 bid at the moment) but not as much as I was expecting - Lets see where it closes.

[pugugly] 30/10/2013 07:44

ims Not good - In normal times I would expect a significant fall in share price as reading between the lines revenue generation going forward will be more difficult - This downturn may have already been built into the share price given the recent consistent buying at 20p but the buyer may decide to await a lower price.

All imo dyor etc.

[cascudi] 30/10/2013 07:26

-- Cash flow continues to be positive allowing for further reduction in net debt to equity, reducing to 12.7% (15.6% at end of Q2 2013, from 21.4% at 1 January 2013). Cost reduction initiatives on-going.

-- 3 rigs scheduled for delivery in Q4 (expected commissioning in early Q1 2014) to service the newly won 5 year drilling contract with AngloGold Ashanti in Tanzania.

-- Global conditions for the Mining industry showing initial signs of stabilisation. Current trading remains in line with market expectations.

[el1te] 29/10/2013 19:03

Was actually very impressed by the H1 results. Looking at it closely and am just waiting for the IMS in order to collaborate my thoughts as to whether putting it as a Buy. It has overshot my sell target earlier in the year which also makes it interesting.

Just waiting for that news now...

[matthew_88] 29/10/2013 18:23

Elite I was actually going to pop you an email regarding Capd. I read your well balanced piece on the company which you did in March this year and wondered if you felt the company had reached its bottom.H1 '13 Cashflow was only marginally lower than H1 '12 yet the share price is much lower.I'm not saying we should be at 50p would around 30p seems more reasonable. I also noticed that they reduced debt by around £5m in H1 which is very good for a company experiencing difficult market conditions.

[el1te] 29/10/2013 18:03

Cascudi - A lot of people are waiting for the supposedly imminent announcement I expect. I certainly am

[cascudi] 29/10/2013 17:59

Matthew, I agree with you.
Unfortunately It seems to me that we live in a period of time that people forget to look on fundamentals of companies. the only look the chart and they buy stocks because everybody are buying. I have friend that are buying now amazon that has a pe ratio of 1200. may be I am wrong and the mr market is right. but I like fundamentals and I think this company has good fundamentals and it is undervalue. Warren Buffet said be greedy when everybody are scare and be scare when everybody are confident. I hope this scare about mining will go away soon and people will start to realize that there are still good companies in this business. I hope and it is my personal opinion.

[matthew_88] 29/10/2013 09:08

I'm in here after the contract wins announced on the 4th... Really hoping the trading statement before the end of the week instils some life here...

PE is ridiculously low as of current interim profits.

Anyone mentioned us on Mining and drilling forum of late, might be worth reminding a few people CAPD still exist.

[boo 2 goose] 29/10/2013 09:05

Y has the share price not moved for 2 wks?

[dr know] 28/10/2013 21:54

Come on guys you said in the 4th Oct announcement ...

"Capital Drilling will provide a further update on its performance and 2014 prospects within its Interim Management Statement scheduled for late October 2013."

There isn't much of October left.

[spob] 24/10/2013 08:45

19.75p 26.6m








1 year

[gleach23] 18/10/2013 12:25

Hope so phowdo - thanks ;)

[phowdo] 18/10/2013 12:20

Looks like a large seller at 20p - hence why it fell back after the recent contract news. Im sure theyll clear eventually :)

[gleach23] 18/10/2013 12:12

Made another top up today - CEY has been flying and looking like it's breaking out.

More buying again here today - surely these have to move up soon?

[hedgehog 100] 06/10/2013 14:22

I agree with the consensus about Friday's CAPD news being very positive for the company, and indeed encouraging for the mining services sub-sector as a whole (albeit that that 'whole' is only really two shares on the LSE).

And the icing on the cake with CAPD is the chart: I really like the combination of the gentle uptrend after a double bottom in the mid teens.


P.S. Newcomers to CAPD please note that there is a specific ADVFN thread for the mining services sub-sector:

Mining Services Companies: 'Picks & Shovels' Plays (SHFT)

[sailing john] 04/10/2013 10:05

GP - Spot on and that is what attracted me to buy today

My summary at 1H

Bal sheet summary at 30 June 2013 $m

PPE $67m
Current Assets $63m
Total assets $130m

Laibilities $34m

Net assets $96m
MC £28m 0r $48m at 22p

Cash generation 1H $7.6m - after tax but before investments
So perhaps $15m for year

[gingerplant] 04/10/2013 10:01

It's a sitting duck at 21.5p / mkt cap of £29m IMO. And if it did go - it would do so at a decent premium given directors' holdings - and still be a bargain (anyone remember VELO, for example?).

Against that £29m, there's around £31.5m in net working capital, £59.6m in NTAV, and a historic P/E average of 3 based on last 5 years - and around 6.3 for the current year.

The shares were over 40p in March which would seem to be a more reasonable valuation to me. In fact, it would still be pretty cheap.

[cascudi] 04/10/2013 09:00

fantastic news.
contract win
net working capital of 30m£ and mar cap of 28.9m£

[valhamos] 04/10/2013 08:30

I was surprised this went below 20p, seems that a lot of potential bad news in the mining sector was being factored in. Over recent weeks that was looking less likely, and now with contract wins being announced the share price is "well-positioned" for further gains. :)

[drewz] 04/10/2013 08:29

It's still rather wintry in the mining world, but spring will sprung before long and CAPD is WELL POSITIONED to shovel cash to the bottom line once mining activity and utilisation rates pick up.

I'd rather they were 'well positioned' than 'over exposed' or 'under invested', Pug. You're a hard man/lady to please!

I still think this share is ridiculously mispriced and oversold.

[thorpematt] 04/10/2013 08:28

Personally I believe that CAPD IS well positioned for the present, short-term and mid-term likely market.

I believe it HAS re-positioned and is thus now well positioned - hence I read the statement as a positive commentary on the situation.

We will see of course (in due course) but I like it where it is, at the price that it is, and I am confident of a strong return assisted by an upturn in the sector.

[sailing john] 04/10/2013 08:21

Bought in today

SJ

[phowdo] 04/10/2013 08:10

The tanzanian contract is a huge win.
Bowl forming on chart. May take a while to get through the overhang though.