Inveresk Share Discussion Threads

[ptolemy] 27/3/2006 14:43

2m buy sell with a spread of half a penny. That's J10k for the market maker. Obviously the only one making any money on IVS. Still, directors should be back from their four month holiday soon....

[dave-w] 13/3/2006 12:51

Wrong kind of mill for us Donut... even if we had any left!

[donut114] 13/3/2006 09:58

Minmet(MNT) says Q4 trading positive

LONDON (AFX) - Gold mining company Minmet PLC said it has enjoyed a
"positive" trading performance in the fourth quarter, thanks to the strong gold
price and cost savings from last March's corporate restructuring.
The company said it is pleased that this phase of restructuring has been
successfully completed and operations at the Björkdal gold mine in northern
Sweden are running profitably.
In the fourth quarter, Björkdal produced 6,163 ounces of gold, which was
down on 8,093 a year ago, bringing production for the year to 22,237 ounces,
down from 30.601. The amount of ore processed rose, however, to 316,443 tonnes
in the fourth quarter from 289,894 tonnes. Production at the milling plant has
been maintained at full capacity levels throughout 2005, with ore processed in
the quarter primarily sourced from low grade stockpiles of previously mined ore.
Revenues during 2005 were enhanced with the production and sale of 61,300
tons of crushed rock/aggregate material.
[e-mail]
jc/jm

[dave-w] 04/3/2006 14:59

Fair point. Though 60% of the buys were 18.5p +. i.e. in top half of normal range.
Not sure about co. buying own shares at this stage but I did hear a rumour that the directors were.

[arthur_lame_stocks] 03/3/2006 16:56

IVS does seem to trade in the 16-20p range so it may be nothing more than people taking the opportunity to buy in at a low.

Can the company still buy in their own shares or is that not possible now they´re in the end of year close period?

[dave-w] 03/3/2006 16:21

Just bought in. Checked with broker first, IVS wasn't even on their radar but they got quite excited when I explained the scenario. They might JUST be responsible for one or two of the large buys as I first flagged this in to them a couple of days ago!! But the share price jump convinced me that "summat's afoot". Developer coming onboard perhaps?

[cockneyrebel] 03/3/2006 15:32

just got in and seen it moving - interesting.

CR

[ptolemy] 03/3/2006 14:15

Not heard but unusual for something to be released late Friday, so either insiders and/or warning of a release next week?

[mjcrockett] 03/3/2006 14:10

Now this is getting serious. I wonder what's in the offing. Sale of St Cuthberts? Planning matters? Anyone heard anything?

MJ

[mjcrockett] 03/3/2006 08:22

...and more signs of life today. Someone even bought 10K at 0.5p over the offer before the market opened. I would have thought that you would only do that if you knew something was about to be announced.

MJ

[ptolemy] 02/3/2006 16:34

Large volume today and signs of life......

[ptolemy] 21/2/2006 13:23

100000 buy at 15.75. Small but encouraging.

[cockneyrebel] 21/2/2006 11:33

DS Smith news yesterday hit it imo - tho UBS upgraded their targets for DS Smith after that news, which as far as earnings go was a positive imo. Energy costs seem to be the worry with many manufacturers tho when you ain't making anything you don't have those energy costs :-)

CR

[arthur_lame_stocks] 21/2/2006 11:27

These seem to be coming off the boil a bit. I guess it´s the news that the remaining mill isn´t performing very well.

I noticed yesterday that DS Smith announced the closure of a paper mill blaming high energy costs amongst other things.

I hope IVS´s last mill does not start consuming loads of cash.

Anyway the attraction for me here is in the assets. But I think patience will be needed.

[aladam] 18/2/2006 20:21

Is the scenario not likely to be keep the mill going using its cashflow to fund the development costs and then sell the business to klippan or another local competitor when the inverkeithing site has PP at the same time. it is in a very attractive location close to a railhead with about 3 trains an hour to Edinburgh. the bathgate site is an attractive location too

[aladam] 18/2/2006 20:21

Is the scenario not likely to be keep the mill going using its cashflow to fund the development costs and then sell the business to klippan or another local competitor when the inverkeithing site has PP at the same time. it is in a very attractive location close to a railhead with about 3 trains an hour to Edinburgh. the bathgate site is an attractive location too

[jonny wilkinson] 12/2/2006 14:45

mjcrockett - 12 Feb'06 - 13:05 - 823 of 823


Thanks for your latest response.

[mjcrockett] 12/2/2006 13:05

Jonny, you raise some interesting points. I am sure you are right that the directors are not interested in promoting the company to the market. They have said on numerous occasions that business is very tough and with little prospect of getting much better and have suggested that consolidation is the way forward. So, what would be the point of forecasting growing losses over the next few years, when they could well be selling the last of their businesses in the not too distant future.

Regarding the possibility of a cheap sell off. I agree this is always a possibility with this sort of company. However, with Alan Walker and Jan Bernander each having significant share holdings which they have added to recently, this is IMO less likely.

I did not learn any non-public info at the AGM and if I had, I would not post it. However, I can say that I came away from the AGM with the feeling that the directors were working for the benefit of the shareholders and that I am qute happy to hang on to my IVS shares.

MJ

[Abuse team] 11/2/2006 19:18

Post removed by ADVFN

[jonny wilkinson] 11/2/2006 19:08

mjcrockett - 10 Feb'06 - 23:30 - 820 of 820

I'm not doubting the directors are not supportive / helpful off the record but i'm quite certain its unlikely disclosed any " material info " which might move SP, so going back to my earlier post the point i sought to make was modicum of info disclosed public domain, outside interims / finals .

Correct me if i'm wrong but no brokers / research notes available, when i call Peel Hunt IVS Nomads / Brokers no recent research notes published so it begs question , are directors not interested in promoting what appears is a stock grossly undervalued.

Finally i take your point that once trading business's are sold then company might not be prepared to hang around until planning permission is secured, however with Alan Walkers experience with other property co's then i'd be surprised if land sold before planning permission is secured, despite it being Zoned for residential / commercial use.I know AW has engaged planning consultants who in regular discussions with planning authorities, appear more strange your suggestion then if he's only interested in flogging land . These days Major lenders often insist planning / environmental permission is approved before financing land purchases in a already overheated market. IVS Directors corporate responsibility is to extract best best deal for shareholders.

Did you learn anything new other than info already in public domain when you spoke to directors at AGM. My chief concern is someone acquiring company on cheap, perhaps related party deal ie company connected to Directors.

[mjcrockett] 10/2/2006 23:30

Jonny, I went to the AGM last year and I got a very different impression to that which you describe. I spoke to most of the directors after the meeting and found them without exception to very helpful and willing to speak at length to this private investor. I spoke with Alan Walker and got a most favourable impression. I think (but I am not sure) that he does 3 days a week with Inveresk.

Finally, should you be correct that IVS do sell their last business, I do not think that they will be getting planning permission etc. In my opinion they will sell the company, along with its tax losses, to a developer. I do not know the extent of any land clean up issues, but I will try to find out.

MJ

[jonny wilkinson] 10/2/2006 21:32

Ptolemy - 8 Feb'06 - 16:12 - 813 of 818

Communication almost non existent from directors apart from statutory obligations to report interim / final yr results. To best of my knowledge no up-todate brokers / research notes which suggests directors are not in the least bothered whether or not retail investors buy into this stock.

CEO is already holding 40 plus directorships according to companies house so it begs question how much time does he spend working for Inveresk, i suggest objective is for trading business's to be disposed and then IVS concentrates on securing planning permission for its substantial landbank which again is an unknown qty, don't overlook expensive cleanup costs industrial lands when trying to secure residential planning approval, firms like White Young Green plc don't come cheap but are neccessary when environmental concerns must be addressed.

[uwinsomeulosesome] 10/2/2006 11:33

No I don't work there, I have dealings with people who supply the industry.

WSLS

[mjcrockett] 10/2/2006 11:05

WSLS, Thank you for the information. I can well believe that the mill is not making money. Do you work at St Cuthberts?

MJ

[uwinsomeulosesome] 10/2/2006 09:04

18 going. Don't know the official reason but I believe the losses each month are quite high. Still remaining at 4 shifts for the time being.

WSLS