Reason: ANGS have become too cheap in my view especially with the current MAJOR drilling going on!|
opening lower now 22 points on the red|
W Resources Plc
("W" or the "Company")
São Martinho SMD-009 Hits 56.4m of Gold at 2.34 g/t from Surface
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining, production, exploration and development company with assets in Spain and Portugal, is pleased to announce some exceptional results at its São Martinho Gold project in Portugal.
SMD-009 results have confirmed a very thick gold intersection of 56.4m at 2.34 grams per tonne (g/t) from the very shallow depth of 2.6m. The thickness of the intersection bodes well for an increase in the size of the ore deposit and the potential to mine ore at low cost given the shallow nature of the zone.
New results from Holes 5-9 and an upgrade from further sampling of Hole 4 have yielded very positive results:
· SMD-009 was the highlight with a wide zone of 55.6m at 2.34g/t from 2.5m with an additional deeper zone of 3.55m at 1.69g/t Au from 194.95m identified
· Infill sampling of hole SMD-004 significantly improved the results with thicker intersections
· Hole SMD-007 reported two gold bearing zones with a shallow zone at 18-20m and a deeper zone at 104m
In addition to these first assay results visual gold has been picked up in holes SMD-010 and SMD-011.
Michael Masterman, Chairman of W Resources commented: "São Martinho SMD-009 is a very positive result with a very thick intersection of over 55m of gold at 2.34g/t. The result provides a solid base to drive extension drilling with the potential for materially larger resource. We are very pleased with the results from this drilling programme."
Further results from this diamond core programme at São Martinho will be progressively released as the assay results come through.
Please click to view São Martinho drill hole map and photo of visible gold - hxxp://wresources.co.uk/caa-portalegre/|
|VOLUME AND RISING|
|VOLUME AND RISING|
|Why WANdisco shareholders are dancing again - By Lee Wild | Mon, 16th January 2017
Why WANdisco shareholders are dancing again software profit cash flow big data We haven't covered WANdisco (WAND) since March 2015, when the software company's share price plunged to 310p following worse-than-feared full-year losses and faster-than-expected cash burn. It had nudged £15.50 less than 18 months earlier, and City analysts had been optimistic. However, after bottoming out at 70p a year ago, and following a short-lived boardroom coup last autumn, might this latest rally signal better times?
Hearing that it had almost doubled bookings during the fourth quarter to a record $6.1 million (£5 million), and that full-year bookings would be up 72% to $15.5 million, investors decided it was time to pile in.
Within 10 minutes of the opening bell, WANdisco shares had surged over 20%, topping out at 278p, a 20-month high, for a 24% gain on the day.
Tie-ups with IBM, Oracle and Amazon are clearly significant for the £100 million firm. Crucially, WANdisco, whose software lets customers analyse huge amounts of data, has no borrowings and $7.6 million of cash, more than half the net $14.3 million it raised from a share placing in June at 160p.
And cash burn fell to £200,000 in the final three months of 2016 versus $6.9 million a year earlier.
"Operating at nearly cash flow break-even during the quarter reflects the significant action taken to reduce our operational cost base, which coupled with our improved booking performance has dramatically reduced our cash burn rate, ending the year with no net debt," a relieved chief executive David Richards, who also set up the company in 2005, told shareholders Monday.
Tie-ups with IBM (IBM), Oracle (ORCL) and Amazon (AMZN) are clearly significant for the £100 million firm, making a huge difference to bookings. As we said in March 2015, any uptick in the share price would be linked to improving sales. And so it has been.
"We have begun 2017 with a strong new business pipeline and a significantly reduced cost base, which, together, will further our progress towards profitability," added Richards, who many might be surprised to see penning this January update.
Less than four months ago, Richards was ousted in a boardroom coup led by chairman Paul Walker. Then, in a remarkable change of events (and with the support of 12% shareholder Schroders (SDR) and others), Walker left and Richards was reinstated.
News of further progress when full-year results are published in March would help underpin recent gainsWith some certainty restored, investors appear happy to price in better times. A dramatic reduction in the burn rate is certainly significant, as is operating at "nearly" cash flow break-even. That becomes more relevant if WANdisco begins operating at cash flow positive consistently, reducing the need to go cap in hand to shareholders.
We have no fresh forecasts - Stifel was only recently appointed joint broker and is yet to initiate coverage. However, this could work in WANdisco's favour, as research notes from new brokers are typically brimming with optimism and can stir up interest in the shares.
It'll be interesting to see what Stifel thinks, but Silicon Valley- and Sheffield-based WANdisco is widely believed to be many years away from turning a regular profit.
Timing of contracts also remains unpredictable. News of further progress here when full-year results are published in March would help underpin recent gains. Until then, WANdisco shares are likely to remain unpredictable and high-risk.|
|30 shares for this £1 million portfolio - By Lee Wild | Mon, 16th January 2017
30 shares for this £1 million portfolio stockpicking algorithm growth value Successful stock-picking, especially in the small and mid-cap sector, is hard work. Many investors use a system to make smart investments, among them our companies analyst Richard Beddard, who invented his Decision Engine to beat the market. Now, broker finnCap has designed "The Slide Rule" to help spot the best stocks around.
"The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company," explains finnCap's head of research Raymond Greaves.
"At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum."
The Slide Rule can rank or screen almost 500 small/mid-cap companies - firms worth £50 million-£2 billion with proper revenues, profits and cashflows - on 11 key quality, value, growth or momentum (QVGM) metrics.
To measure quality, finnCap uses return on capital (ROCE basis), return on capital (free cash flow basis), and gross liabilities as a proportion of capital employed. For value, it's enterprise value/operating profit and price/earnings, for growth it's sales and operating profit, and finally there's earnings momentum.
Trialing the portfolio over fourth-quarter 2016 made 8.9% of capital gains, excluding dividends.Using a QVGM-rank for each company based on a proprietary blend of the metrics, finnCap has created a "robo portfolio" based on the Top 30 companies. The algorithm for determining the portfolio prioritises growth first, then quality, then value, then momentum.
It will be tracked over time and published every quarter alongside The Slide Rule, which will rank each small/mid-cap stock and track individual £1 million portfolios for quality, value, growth and momentum.
Here's the current Top 30, dominated by tech, support services, consumer, media and industrial sectors, although there are oil, mining and specialty finance firms, too.
"Our QVGM portfolio of Top 30 companies for first-quarter 2017 includes established performers such as boohoo.com (BOO), Fevertree (FEVR) and Fulcrum (FCRM) but also more 'off the beaten track' names such as Taptica (TAP), Learning Technologies (LTG) and Stride Gaming (STR)," points out finnCap.
To test the theory, the broker has invested a notional £1 million evenly across the portfolio. Every quarter, the selection process will be re-run and the "proceeds", including dividends from the previous quarter, will be re-invested equally across the new Top 30.
Already, an initial trial for the fourth quarter of 2016 generated 8.9% of capital gains. Add in dividends and total return was 9.9%. Had it run for all of 2016, those returns would have been an incredible 31% and 35% respectively.
We'll also be watching the portfolio with interest, and later this week will look at finnCap's portfolios for quality, value, growth and momentum, and ideas generated by The Slide Rule for "undiscovered gems", "building momentum" and "debt traps".
LEARNING TECH 37.50p 0.00%
STRIDE GAMING 229.00p -0.22%
FULCRUM UTILITY 61.50p 0.82%
BOOHOO.COM 145.00p -0.17%
FEVERTREE DRINKS 1,115.00p 0.36%
|Lloyds price target upgraded by 17% - By Harriet Mann | Mon, 16th January 2017 - 13:23
Lloyds price target upgraded by 17% Is Lloyds Banking Group's (LLOY) near-£2 billion takeover of MBNA worth the equivalent of a 2.5p per share special dividend? Only time will tell but, after factoring in the acquired credit card business, one City number cruncher has made double-digit upgrades to earnings forecasts and spelled out what's needed for a second leg of this recovery story.
It's been nearly a decade, but Lloyds continues to feel the pressure from the financial crisis and miss-selling scandals. The bank is in much better shape, however, and the banking sector is widely tipped to do better in 2017. One analyst announced a big upgrade this year already, now a second has adjusted its numbers higher.
Buying MBNA from Bank of America (BAC) for £1.9 billion is great for earnings and margin growth, says Deutsche Bank analyst David Lock. Increasing its share of the credit card market from 15% to 26%, Lloyds gets £7 billion of gross assets and £650 million of annual revenue from the acquisition, which also compliments Lloyds' hard graft for lower costs.
Increasing adjusted earnings per share (EPS) forecasts by 5-12% for 2017-19, Deutsche reckons Lloyds will make EPS of 6.67p, 6.02p and 5.99p in 2017/18/19, from underlying pre-tax profit of £7.58 billion, £6.95 billion and £6.93 million.
Include its simplification programme and non-branch property disposal programme - targeting £1.4 billion and £200 million of savings respectively - and Lloyds is clearly keen to shed costs. By the end of 2018, the bank should have made £0.8 billion of run rate savings and £100 million from one-off cost-cutting.
But it costs to save, and Lock is expecting £1 billion of charges to come through in the run up to 2018 - £600 for restructuring, £200 million for ring fencing and £200 million for MBNA as it consolidates its IT, marketing and property.
These plans are likely to be given a re-write over the next year, either at the 2016 full-year results or at the 2017 interims/when the MBNA deal closes. "We expect further cost initiatives to be evolutionary rather than revolutionary," explains the analyst.
Is it all worth it?
While it will be hard for this purchase to go wrong, Lock wonders whether the deal is worth the equivalent of a 2.5p per share special dividend. As long as the impairment cycle remains healthy, this dividend capacity should be recovered over five years.
"Impairments would have to be at peak-crisis-levels of write-offs in order for the book to be lossmaking/dilutive for the group," writes Lock.
"However, whether the transaction was worth the 80 basis points (bps) capital cost (equivalent to c.2.5p of special dividend) will only be judged in coming years: it will take circa 5 years for the EPS accrual on the transaction to compensate the capital cost at expected return on investment, but longer if impairments are higher than expected."
Lock, who still rates Lloyds a 'hold', has upgraded his price target from 58p to 68pTrading on just under 11 times 2018 earnings and around 1.2x tangible net asset value, Lloyds is priced at a premium to its European benchmark, although Lock thinks this is justified given its returns, business model and dividend yield of 5-7%.
Jumping 30% to 65p since early October, Lloyds has smashed through layers of technical resistance to its post-financial crisis highs.
Lock, who still rates Lloyds as just a 'hold', has upgraded his share price target from 58p to 68p, which would mark the half-way point in a recovery from a post-Brexit vote low of 47p to 2015 high at around 90p.
"To see greater upside, we think we would need to see sustainably lower-for-longer impairments in the outer years (our current forecasts envisage circa 40bps in 2018/19 versus 15bps today and pre-crisis average of circa 65bps), a material upgrade to cost plan, and/or better than expected margin outlook for the UK."|
scotty66616 Jan '17 - 18:08 - 216 of 219 1 0
Whoever took the 60k will have to notify so interesting to see who took them. Nice to see the directors taking a few as well - another 100k in the bank.
RNSs flying out today from scatter GUN
Further to its announcement of 10 January, Gunsynd (AIM: GUN, ISDX: GUN) announces that it has, in order to fulfil excess demand, raised £60,000, gross of expenses, through the issue of 141,176,471 new shares of 0.01p each in the Company ("Placing Shares") at a placing price of 0.0425 pence per share with a single existing shareholder ("the "Placing").
Application is being made for the Placing Shares, which will, on issue, rank pari passu with the existing ordinary shares, to be admitted to trading on AIM and such admission is expected to occur on or around 20 January 2017. The Placing Shares will be admitted to trading on NEX Exchange simultaneously with the admission to AIM.
Gunsynd (AIM: GUN, ISDX: GUN) announces that two directors of the Company, Hamish Harris and Donald Strang have, now that they are no longer in possession of inside information relating to the share issues of 10 and 16 January 2017, each invested £20,000 in the Company by means of a subscription, resulting in the issue of 94,117,646 new shares of 0.01p each in the Company ("Placing Shares") at a placing price of 0.0425 pence per share (the "Directors' Placing").
Application is being made for the Directors' Placing Shares, which will, on issue, rank pari passu with the existing ordinary shares, to be admitted to trading on AIM and such admission is expected to occur on or around 20 January 2017. The Directors' Placing Shares will be admitted to trading on NEX Exchange simultaneously with the admission to AIM.
flashheart16 Jan '17 - 18:31 - 218 of 219 1 0
Could be looking to increase the stake in Oyster.
cottoner16 Jan '17 - 18:33 - 219 of 219 1 0
£60K investor - Jim Mellon perhaps?|
|Some UP some DOWN ...........
The world's financial watchdog revised its forecast for economic growth in Britain higher for 2017.
In an update of its World Economic Outlook, the Washington-based lender pegged the UK's rate of economic growth for this year at 1.5%, versus its previous estimate of 1.1%.
Britain's gross domestic product expanded at a 2.0% clip in 2016.
The IMF said the upwards revision was "mostly on account of a stronger-than-expected performance during the latter part of 2016".
However, its projection for 2018 was lowered by 0.3 percentage points to 1.4%.
Global growth was still seen at 3.4% in 2017 and 2018.|
|How the UPS are performing during last month How the UPS are performing during last month|
|How the UPS are performing today|
is close today - Martin Luther King, Jr. Day|
|KEEP an EYE
CTAG 7.625p ( 7.50/7.75p )
Some change on the direction of the share price since late last week, as it was holding from the falling. From early this morning there was signs of wanting to move forward and by midday did a big jump up. There is currently some very large shorts, on moving higher they will be close and accelerate the bounce.
----------------- Intraday ------------------------------------------ 2 months ------------------------------- 2 years -------------------|
|GLOBAL MARKETS-Investors turn wary as Brexit, Trump uncertainty grows
Investors sold sterling and stocks in Europe and Asia on Monday, seeking shelter in gold and the Japanese yen as uncertainty over Britain's departure from the European Union and the policies of U.S. President-elect Donald Trump curbed appetite for risk.
The dollar rose, except against the yen, rebounding after suffering its worst week since November, when it was hit by a lack of clarity over what Trump, whose inauguration is on Friday, will do once he assumes office.
U.S. markets were closed for a holiday, potentially exacerbating price moves in thinner than normal trade.
The price of gold, a frequently sought haven in uncertain times, hit its highest level since November.
"(The movement) shows that people are looking ahead this week with Trump's inauguration and discussions on Brexit. There is a lot of uncertainty moving forward," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central
Yields on low-risk German government bonds fell, but those on Italian equivalents rose after rating agency DBRS cut Italy's credit rating after markets closed on Friday, a move that could raise borrowing costs for the country's banks.
But the eye-catching mover was sterling, a day before a speech by British Prime Minister Theresa May. Media reported that she would lay out an exit from the EU that would see Britain lose access to the bloc's single market.
The pound fell as low as $1.1983 in thin early Asian trade, which, barring a sudden "flash crash" in October, was its weakest against the dollar in 32 years.
Investors will scrutinise May's speech for clues to whether she plans to prioritise immigration controls in a "hard Brexit" that some analysts say could hurt the economy.
The fall in sterling, which makes UK exports cheaper, has contributed to an unprecedented 14-day rally in the blue-chip FTSE 100 stock index.
The index fell marginally on Monday but still outperformed continental European markets. The main STOXX 600 index fell 0.7 percent, as declines in autos and banks offset a rally in eyewear makers Luxottica and Essilor, who agreed a 46 billion-euro merger.
German carmakers BMW, Daimler and VW fell 2 percent after Trump warned he would impose a 35 percent border tax on vehicles imported to the U.S. market.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.6 percent, Japan's Nikkei lost 1 percent as the strong yen hit exporters.
Sterling last traded at $1.2043, down 1.1 percent on the day. The euro was up 0.6 percent at 87.95 pence while the yen was up 0.8 percent at 137.45 to the pound.
The dollar index, which measures the U.S. currency against six of its peers, rose 0.4 percent. The euro fell 0.5 percent to $1.0592 while the yen, another perceived safe haven investment, rose 0.4 percent to 114.07 per dollar.
U.S. markets are closed on Monday for a holiday.|
|LUNCH TIME FUN|
scotty66616 Jan '17 - 10:24 - 214 of 215 1 0
cpap you might like this !
scotty66616 Jan '17 - 10:40 - 215 of 215 1 0
Top stockbroker Andrew Monk of VSA has today served up his third share tip of the year (following from his win with Sula HERE) and it is a real "hell or glory play". it is right now TSX.V listed but there is an AIM listed way to play it. Over to the Monkey...
So today I can give you my 3rd tip of 2017. This one is the really speculative one but if I am right then the return really will be huge. It also really is the PA one as it is currently listed on the TSX-v but I hope it will head to London soon as this is where it should be listed and it would do very well on AIM
Oyster Oil & Gas is the stock and it’s a little pearl (sorry couldn’t reist!!)
It Light oil in the north of Madagascar and I reckon it has Billions of barrels and also very shallow so very cheap to extract – this project would work in my view down to $25 and so if price is just where it s today – its worth a bloody fortune
So why is it different to Madagascar Oil &Gas which let’s be honest I got wrong as it delisted and you basically have had to write it off. Well the real problem with MOIL was firstly the shareholders who just were not suitable for a listed company and secondly it was of course heavy oil and so needed a much higher price to breakeven and I mean much higher
Madagascar has amazing geology and it is very under explored – also where you have heavy oil you nearly always find light oil although this is a different structure up on the North of the island and more akin to across the Mozambique channel ro Mozambique and Tanzania where we also know there are huge reserves of Oil & Gas
Now the asset was owned by Candax and then went to Afren who had 90% and Oyster had 10% but with Afren going bust , Oyster has secured 100% from the administrator for nothing – it just needs to finally fully sign off with OMNIS the local ministry
Italso have assets covering most of Djibouti but I am focussed on Madagascar
I also believe very strongly that this will be an ideal asset for a major to farm in because of its potential size – this is a game changer – a monster – many Billions of Barrels ………;….so don’t think it will need a constant funding , it wont , it will sit back and let a major do it ………;..another difference between it and MOIL who wanted to fund 100% to full production
Mike Wood who runs Oyster is a serious player – found most of the oil for Heritage , so also worth backing. It ticks all my boxes
Clearly has risk as its exploration , but we know there is oil as it seeps out of the ground and it has cores which show it – yes there has bene some historic drilling. But this is probably the best lottery ticket you will ever buy
Now the reason I can tell you today is that Aim listed Gunsynd (GUN) announced on Friday that it had taken a small initial stake - I obviously knew that so had to be quiet – so you could buy through Gunsynd on Aim but then that comes with all sorts of other bits and pieces some of which are ok , some maybe not (who knows) but it’s not a pure play and it’s a small part of its portfolio – had it been bigger then I would be jumping up and down and saying buy Gunsynd.
- See more at: hxxp://www.shareprophets.com/views/26579/andrew-monk-s-third-share-tip-of-the-year-the-best-lottery-ticket-you-will-ever-buy#sthash.4N9LxkyP.wFMlUUlU.dpuf|
Pound falls to its lowest in three months on possible 'hard Brexit'
The pound plummeted to its lowest level in three months on reports that UK Prime Minister Theresa May is set to quit the EU single market under a 'hard Brexit'.
Miners Fresnillo (FRES), BHP Billiton (BLT) and Anglo American (AAL) were among the top blue chip risers as the weaker sterling boosted dollar-denominated earnings.
Despite the rally, the FTSE 100 was flat at 7,341.
West Texas Intermediate and Brent crude oil slipped 0.3% to $52 and $55 per barrel, respectively.
Gold rose 0.4% to $1,200 an ounce and copper cheapened 0.2% to $5,886 per tonne.
The British Retail Consortium revealed footfall in the High Street rose for the first time in December since 2011.
In the US, the S&P 500 closed 0.2% higher at 2,274 and the Dow Jones index was flat at 19,885. To commemorate Martin Luther King Day, both will not open today.
The Hang Seng in Hong Kong was 1% lower at 22,718 and Shanghai's SSE Composite index slipped into negative territory.
FTSE 250 RISERS AND FALLERS
Gold producer Acacia Mining (ACA) confirmed it is in preliminary discussions regarding a possible tie-up with Endeavour Mining, which is developing a portfolio of mines in the prolific West African region.
Asset manager Ashmore (ASHM) was 3.9% higher despite a decline in second quarter assets under management. CEO Mark Coombs said stronger emerging asset prices in December continued into the New Year and flagged a strong performance in 2017.
Brick maker Ibstock (IBST) warned that national brick imports declined significantly over the year to 31 December, which concerned investors.
The market cheered dehumidifier equipment supplier Aggreko's (AGK) contract extensions in Argentina.
SMALL CAP RISERS AND FALLERS
Self-tanning products developer Innovaderma (IPD) plummeted 25.7% as shareholders were keen to cash in on profit following its trading update. Revenue grew by over 80% year-on-year due to the strong performance of its self-tanning brand Skinny Tan. IDP's shares soared by approximately 230% over the last six weeks.
Software company Wandisco (WAND) sparked 18.7% to 266p on record fourth quarter bookings of $6m as total bookings for the year increased by 72%.
Global Energy Development (GED) decided to reinvent itself as Nautilus Services following a reverse takeover. It conditionally agreed to buy 11 offshore subsea service vessels and a barge vessel to focus on the subsea oilfield services sector.
Publishing services provider Ingenta (ING) gained 18.2% as investors were excited by its announcement that it will pay its first dividend of 1p per share for the 2016 financial year.
Metal project developer Ferrum Crescent (FCR) suffered a 10.7% drop in its stock after its joint venture partner Business Venture Investments failed to complete Phase I of its bankable feasibility study. The study was for Ferrum Crescent's Moonlight iron project in South Africa.
European regional airline Flybe (FLYB) announced that Christine Ourmieres-Widener is now CEO, following the shock resignation of Saad Hammad in November.
Shares in life science software developer Instem (INS) jumped 5% following a rise in revenues in 2016 despite a slowdown in the early phase clinical market and contract delays.
South American-focused gold producer Orosur Mining (OMI) rose 9.6% to 16.8p on improved second quarter cash generation and a swing from a quarterly loss into profit.
Tethyan Resources (TETH) reported encouraging intercepts of copper based on its first test results from samples taken from its Suva Ruda project.|
|Brent oil slightly down, chart not updating|
|Window of opportunity for first time home buyers in 2017, says Rightmove
First-time home buyers in the UK have a "window of opportunity" in 2017 as there are fewer buy-to-let investors to compete against in the market, Rightmove said on Monday.
The property website said first time buyers will also have more negotiating power as sellers are more open to lower offers given sales in the sector fell 13.2% in December compared to a year ago.
The decline in the number of sales agreed in the first time buyers market last month was driven by less buy-to-let investors following the increase in stamp duty on these purchases in April 2016.
"Those planning to buy their first home in 2017 have more choice of properties and less competition from other buyers than their counterparts a year ago. It's a possible learning point for aspiring first-time buyers that a year ago buy-to-let purchasers acted more quickly and closed deals at a faster rate, appearing not to take a Christmas break," said Miles Shipside, Rightmove director and housing market analyst.
In January, house prices in the UK rose 0.4% compared to a month ago and 3.2% compared to a year ago to an average asking price of £300,245.
The average asking price in the first time buyers sector gained a monthly 2.6% and an annualised 6.4% to £188,612.
In the second home buyers market, average asking prices were £255,387, up 0.4% on the month and 4.5% on the year.
The prime real estate market saw prices drop 0.2% on the month but grew 0.4% on the year to £520,840.
On a regional basis, London's house prices continued to edge higher, rising 1.4% month-on-month and 2.3% year-on-year to an average price of £624,953.
Prices in the South East were an average £404,804, a monthly increase of 1.5% and an annualised rise of 5.5%.
House prices also rose in the East of England and North West. In contrast, the North East, Yorkshire and Humber, East Midlands, West Midlands, Wales and the South West experienced falls in house prices.|
|GUN & ZEN
A bit O/T so apologies but interesting especially as GUN are a large shareholder in ZEN
scotty66616 Jan '17 - 10:33 - 563159 of 563159 1 0
Reference to GUN and its Oyster asset, Andre Monk tipped it and TW sees the upside;
"KEEP AN EYE"
Interesting developments chart wise [and other wise!] over at CYAN
KEEP AN EYE on CYAN
AIMHO / DYOR|
Not really ch4p_85 as KOD have more than twice the licence area for LITHIUM than near neighbours Aussie listed BGS who are currently subject to a cheeky bid for A$107M from the CHINESE
To be fair BGS are most probably some 3 to 6 months ahead of KOD but KOD everything being equal of course could get a bid from the CHINESE or be valued during 2017 some where north of £100M+
Hence a share price target during 2017 for KOD of 3p+|
|Sterling skids to three-month low as "hard Brexit" fears bite
Sterling skidded to its lowest levels - bar a "flash crash" in October - in 32 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday that Britain is set for a "hard" Brexit out of the EU and its single market.
Sterling fell as much as 1.5 percent against the dollar and over 2 percent against the yen. That shifted the spotlight away from the greenback, which has come under pressure in recent days as investors ponder U.S. President-elect Donald Trump's likely economic policies after he takes office on Friday.
The pound plunged to as low as $1.1983 in early trade in Asia, depths not seen since a bout of thin liquidity triggered a "flash crash" on Oct. 7 that wiped as much as 10 percent off the pound in a matter of minutes.
By 0851 GMT sterling had managed to inch back above $1.20 but still traded down 1.1 percent on the day at $1.2040.
Dealers said the market was reacting to various media reports over the weekend, including one in The Sunday Times that said May will signal plans for a "hard" Brexit in her speech on Tuesday, saying she's willing to quit the European Union's single market to regain control of Britain's borders.
Investors have been worried such a decisive break from the single market would hurt British exports and drive foreign investment out of the country.
May has said she will trigger Article 50 - starting the formal withdrawal from the EU - by the end of March. But so far, she has revealed few details about what kind of deal she will seek, frustrating some investors, businesses and lawmakers.|