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Real-Time news about Viridas (London Stock Exchange): 0 recent articles
|bam bam rubble: Investments in the 2 listed stocks are worth £420k at the bid price. 20% discount for illiquidity gives a fair value of £336k. Plus £133k if the LDP warrants were exercised and sold at the current bid price, discounting for illiquidity. These investments are therefore worth around 0.08p per share of VIRs 0.28p share price.
The 0.2p balance values the company's cash (assuming £2.5m is left) at £1.2m, which is fair for AIM in the current climate. Certain stocks such as MIO have larger discounts. This allows leeway for ongoing expenses and director salaries which drain the balance. Considering the full valuation and wide spread there is little reason to invest here.|
|marab: cocorico2009 - if we sold BRDY at a price of 2.11p and the warrants at full value with the LDP shares at 0.6p, then yes 0.78p looks about right. So share price of VIR at 0.52p pretty much a third less than the cash the company holds. Or to put it the other way, every £1 worth of VIR shares is worth about £1.50 in cash held by the company. That seems an overly generous discount to me, roll on the next investment.|
|howdlep: Remember we hold 166.66m (@ 0.15p) LDP warrants which will be exercised and sold in due course. At the moment LDP is very strong so management may not be in any hurry to realise the gains just yet.
We also have that BRDY investment which is already in profit from 1.15p. Exciting times are ahead.
Time for VIR share price to play catch up imo.|
|marab: steddieddie - truly excellent post. It doesn't matter whether people agree or disagree because you have put in so much detail that they can make up their own minds. No way I am trying to follow a quality post like that except to pick up a point on share prices and NAV, (I own a few VIR so may be biased). Normally with shell companies big investors buy quintillians of shares for an average price of nothingpence each. PIs hear the news and think they will buy in, normally at multiples of the price of the big investors, and the share price goes to a sky high premium to NAV. Here we have the same sort of thing (ask the old VIR share holders how they felt when the low placings were announced) EXCEPT we now have the opportunity to buy in at a 30% discount to NAV, or 5% discount to the cash held by the company. If the deals keep coming anything like the LDP one, the future could be very bright indeed.
From an earlier RNS last year -
'Viridas, the AIM listed investing company (AIM:VIR), announces that the Company has raised an additional £500,000 before expenses, by way of a subscription for 125 million new ordinary shares of 0.1 pence each in the share capital of the Company (the "New Ordinary Shares") at a price of 0.4 pence per share (the "Subscription Price"). The Subscription Price represents a discount of 3.6 per cent. to the closing mid market share price on 11 July 2011 and a premium of 60 per cent. to the conversion price of 0.25 pence for each new ordinary shares issued on 18 May 2011.'|
|marab: LDP is still doing well, hope we still have the warrants. If you see any errors below please let me know.. COST TOTAL SP VALUE LDP SHARE PRICE0 0 0 0.6£0 LDP WARRANTS @ 0.15P166,000,000 0.15 0 0.45£747,000 BRADY17,000,000 1.15 195,500 2.1£357,000 TOTAL INVESTMENTS £1,104,000 CASH £3,369,200 TOTAL INC CASH £4,473,200 MARKET CAP578000000 0.55 £3,179,000 Discount share price to NAV28.9% NAV0.774 Asset values based on bid prices Market Cap based on offer price |
|marab: engelo - I've been out and about or I would have done it sooner. Normally people would argue that an investment company, which VIR is at the moment, generally trade at a discount to NAV. Looking at VIR's performance over the last few months I think one could argue that they should be trading at a premium. LDP's share price seems to indicate that there is more news to come there and, since VIR have not issued an RNS, we have to presume that they are still holding the LDP warrants. I hope VIR continue being so prompt with RNSs as it makes a refreshing change from most AIM companies. As someone commented earlier VIR have already amended their listed holdings in LDP on the website. I have to say I am quite encouraged by the professionalism of VIR to date.|
|marab: supercity - 'secondly are VIR just looking for cheap shares ramping them up then jumping ship...while this could be great news for investors it will only take a few trades like this before companies turn against it.' Fair points but I don't think VIR did any ramping. They bought LDP for the prospects and that looks like the reason the other large share holders have climbed aboard. The fact that VIR could sell that many LDP at the price they did shows that their has to be some potential in LDP's project. By selling at a huge profit VIR now has more cash to play with, no risk of their investment in LDP going down, and created the impression of a company that can do the kind of deals most of would love to be part of. BRDY seemed to go up for no other reason than people expected it to do what LDP did. It may well do so in the future as BRDY is a shell looking for a reason to justify its existence, but most bought as a short term punt.
There are a lot of companies out there short of cash and they are going to be happy to do any deal that keeps them afloat, and that's where VIR comes in. Look how cheaply they bought into LDP and look at the current LDP share price. A placing could be done now at 5 times the level VIR invested at and still offer a discount, so I don't see how LDP have lost on the deal.
As to the directors giving themselves a hefty bonus, I have no opinion on that as I don't know much about them. Perhaps other posters would like to comment on that for the benefit of all of us. Time will tell, but looking at some of the other companies on AIM, it's definitely a point to bear in mind.
Your post could be construed by some as negative, but to me it was just a list of points worthy of consideration and I thank you for bringing them up. A balanced thread is a good thread imo.|
|liquid millionaire: For every seller there has to be a buyer of course. My understanding is that the desire of certain entities to get on board LDP forced VIR's hand [and any way VIR need the money for what is happening next by all accounts]. At least one of these buyers is looking for a 29.9% stake in LDP [again by all accounts].
Any pull back in the share price of either LDP or VIR will be heavily bought in my view. LDP going to go on and hit 1.25p with VIR going on to hit 3p.
|liquid millionaire: Short term [end of month] share price target for LDP = 1.25p
Short term [end of month] share price target for VIR = 3p|
|liquid millionaire: VIR, TOM & TXO
From the 100% thread....
Skiboy10 - 31 Dec'11 - 15:27 - 77 of 81
Three stocks for 2012
VIR - Investment vehicle - 0.5p - Market Cap £2.9M
Investments to date
LDP shares 592m, cost 0.08p, total investment £473,600 bid price .22p, value now £1,302,400
LDP warrants at 0.15p, 166m, cost 0.0p, total investment £0 bid price .22p, value now £116,200
BRDY shares at 1.15p, 17m, cost 1.15p, total investment £195,500 bid price 1.7p, value now £289,000
Cash around £500,000
Total current NAV £2,207,600 or 0.382p per share
Market Cap 578m shares at share price 0.5p £2,890,000
However the big news surrounds the links between VIR, Russian Steel, LDP, Abramovic steel commpany Evraz, ZOL.
Apparently coking coal will be supplied by LDP which will be reversed into by Manas Coal.
The key to VIR is that it can supply an essential ingredient of steel manufacture. All is being set up for it to acquire a S African manganese mine next week. What`s more, its already producing + profit making.
Expectation is a move to 2p on completion of the manganese deal. Also the reversal of Manas coal into LDP would ensure a re-rating there and VIR's LDP shares at 1p would be work approx £6M.
TomCo Energy - TOM - 1.725p - Market Cap £24.4M - Oil and Gas
TOM owns oil shale leasing in Utah, USA, conaining up to 230M barrels of oil. Around 123 million barrels of this resource lie on the main tract of Holliday Block lease, and have now been classified as an Indicated Resource under the JORC Code.
TomCo has entered into a License with Red Leaf Resources Inc (Red Leaf), which owns the EcoShale(TM) In-Capsule Process (EcoShale), to use this unique and environmentally sensitive technology to extract oil from TomCo's leases. Red Leaf is planning a 9,500 bopd commercial operation at their Seep Ridge site, which lies about 15 miles SW of TomCo's Holliday Block lease. First production is planned for late 2013 with TOM approx 12-18 behind. As part of the license Tomco also have a full collaboration agreement with Red Leaf which gives TomCo full access to all of Red Leaf's Technical data/experience.
TomCo's strategy is to develop the Holliday Block lease as a similar follow-on project to Seep Ridge using the EcoShale(TM) In-Capsule Process, with the same targeted production of 9,500 bopd. The Holliday Block could sustain a 9,500 bopd operation for 20 years.
Red Leaf Resources are rumoured to have signed a Joint Venture Agreement with supermajor Total SA of France who are investing up to $320M. TomCo are also thought to be talking to third parties regarding their own leases.
Also just tipped in the Daily Mail yesterday saying not for widows or orphans but could be a 5-10 bagger this year.
TomCo is worth digging up
by Ian Lyall
After being stung by the rather poor performance of Aviva, I have decided to go for it this year with a particularly speculative stock.
TomCo Energy is not one for widows and orphans. But if it does take off in 2012, it has the potential to be a five or ten bagger. Using a revolutionary new technique, TomCo plans to strip mine oil shale in Utah.
Close inspection of the shareholder register reveals the names of former Williams de Broe analyst Chris Brown, and Mark Donegan and Dominic Redfern, his former hedge-fund backers at Altima Partners.
So the presence of investors of this calibre on the shareholder register suggests TomCo is at least worthy of closer scrutiny.
TXO - Mid Price 0.69p - Market Cap £2.4M - Oil and Gas
TXO reinvented itself earlier this year as an investment vehicle and has already made several deals.
TXO has a 20% stake in Empire Energy who will be drilling in Tasmania for oil and gas in the New Year and are in the process of securing $50M to fund these drills. The structures are prospective for up to 668M barrels of oil. $50M has already been spent on research and seismic data.
TXO also has a 10% shareholding with an option to increase to 42.2% in Grand Bahama Group which has two subsidiaries Morgan Oil USA and Morgan Oil Marine.
Morgan Oil is an oil producer in Kentucky, USA with reserves at current prices valued at $31.5M however using horizontal drilling this could be as high as $100M.
Morgan Oil Marine is a main supplier of BP Castrol Marine Products throughout the whole of the Bahamas. Servicing the 4,000 ships that visit annually could yield £20,000 to £35,000 in revenues per ship for the purchase of marine oil. Annual profits of $1.8M to $3.9M are expected.
TXO is also currently in negotiations with Empire Energy to enter into a JV for a potentially revolutionary and very lucrative gas to liquids technology in the USA.
At a cap of only £2.4M TXO have huge potential given the good spread of projects and the exciting drilling campaign due to start in the next few months in Tasmania.
Viridas share price data is direct from the London Stock Exchange