Capital Share Discussion Threads

[lord gnome] 15/7/2021 07:25

Marvellous update. I couldn't find a single negative. The only phrase that was missing was 'expects profits to be substantially ahead of market expectations' although I suspect that this is the subtext. Should be well received by the market.

[rivaldo] 15/7/2021 07:24

Lovely - revenue guidance has increased by $15m to the $200m-$210m range.....

A blistering Q2 and H1. Utilisation and total revenues are massively up and ARPOR is solidly up. As is the fleet size, which bodes well.

And the outlook is great:

"Looking ahead, rig utilisation levels are expected to maintain the high levels seen through H1, with new rigs largely going to previously announced contracts, and demand remaining strong."

It's great to see non-drilling revenues start to approach a fifth of total revenues - even despite the huge increase in drilling revenues. The Sukari expansion is nicely on track and the necessary capex has now all been spent. And CAPD are also now expanding in Canada too.

Can't wait to see the new broker forecasts, but the current share price is surely ridiculously low.

[valhamos] 15/7/2021 07:12

It's been a while coming but marvellous rig utilisation at 79% for Q2. Revenue guidance for the year now $200m

[basem1] 15/7/2021 07:12

I'll let Rivaldo do his usual synopsis But all good here and looking for a climb into the mid 80's today

[shanklin] 14/7/2021 15:56

rivaldo, you can probably look here without a Twitter account...

[rivaldo] 14/7/2021 15:04

Ah, missed that, cheers. I really must look at Twitter more often :o))

[otemple3] 14/7/2021 14:53

They tweeted it will be tomorrow as I said earlier - will look pretty stupid now if it isnt

[rivaldo] 14/7/2021 14:44

Curencytrader1, do you know officially that the trading update will be tomorrow, or are you just assuming it will be as last year's was on the 15th July? I don't recall having seen an official mention.

[currencytrader1] 14/7/2021 08:55

Very good news ahead of update tomorrow. I do like the way this business communicates to the market its good news stories, very refreshing... GLA

[shanklin] 14/7/2021 07:40

Also a tweet this morning from CAPD...

"Strong indicators the high activity levels in our drilling business will continue with S&P Global Market Intelligence drilling data for June showing a strong rebound, 355 projects, +83% YOY, up on moving 12mth avg of 299 & a 3-mth high. Gold matched this trend, also a 3-mth high."

[rivaldo] 14/7/2021 07:28

More good drilling results from CORA this morning, with a nice mention of more work for CAPD:



"The Capital Drilling Deep RC rig has been moved, following completion of the P2 deeper holes at Selin, to target follow-up on the high-grade intercepts reported at Zones A and C, and as part of the completion of the P2 resource consolidation process."

[otemple3] 13/7/2021 11:51

Yes, capital tweeted it would be thursday

[dangersimpson2] 13/7/2021 11:50

no, valuing assets under IFRS13:

Level 1 have quoted market prices, ie. mark to market. Level 3 will be mark-to-model e.g. Black-Scholes for unlisted options & warrants.

[currencytrader1] 13/7/2021 11:49

Are we thinking update will be this Thursday?

[smithie6] 12/7/2021 16:00

'level 3 & level 1 assets'

??

mining levels ? ;-)))
level 3 is lower down ?!!!! :-))))))))

[dangersimpson2] 12/7/2021 15:22

FireFinch Listed Options add about another $1m - from equity price minus strike price, rather than black-scholes or mark to market (I can't find a reasonable price feed for the options.)

Most of the other options they hold are unlisted so will be level 3 assets not level 1.

They may well have completely sold out of Cora & Arrow Minerals by now, but in general, I have roughly similar valuations.

[deanowls] 12/7/2021 14:57

Thanks tidy sum, I see in the header that they have options. Do those sums include the options?

[kaizenkid] 12/7/2021 14:31

I have circa $5m vs. the Predictive Discovery holding at around $7m. - I could be slightly wrong others maybe able to confirm. - This is what I get for listed holdings:
PREDICTIVE DISCOVERY LIMITED 7.04
Cora Gold Limited 0.81
GOLDEN RIM RESOURCES LTD 0.99
ARROW MINERALS LTD 0.37
FIREFINCH LIMITED 5.02
TANGA RESOURCES LIMITED 0.63
ALGOLD RESOURCES LTD. 0.45
AWALE RESOURCES LIMITED 0.77
DESERT GOLD VENTURES INC. 0.54
MARVEL GOLD LIMITED 2.49

[deanowls] 12/7/2021 14:07

How much is that worth currently?

[kaizenkid] 12/7/2021 13:57

An example of Jamie Boyton and teams investment prowess/capital allocation - this article gives a bit of backgound to Capital 2nd largest public holding FireFinch - hxxps://www.miningnews.net/deal-and-or-merger-of-the-year/news/1413586/firefinch%E2%80%99s-morila-deal-result-of-the-best-and-worst-of-west-perth

[otemple3] 08/7/2021 09:21

I phoned my broker late last week and could get any which was very unusual. Q update will hopefully start to kick us on from here......

[rivaldo] 08/7/2021 08:34

Nice 30,000 buy at 78p - well above the 76p offer price - on the bell this morning. Hopefully an indication that stock is somewhat scarce for once.

[rivaldo] 08/7/2021 07:17

Cheers ds2.

And more good news this morning from CAPD client Altus Strategies at their Tabakorole drill site, with "a number of drilling programmes" forecast by the CEO:

[dangersimpson2] 08/7/2021 00:50

Not sure if CAPD still hold Cora. They dropped below the notifiable threshold in September last year.

In general, the CAPD equity portfolio is doing very well and stands at around $35m by my estimates, or over 17% of the current market cap, having gained over $7m in value in 21H1. And this is despite them topslicing over a $1m of Firefinch and largely selling out of Arrow Minerals for a few hundred $k.

However, good drilling results at Cora are positive for CAPD whether they still hold the shares or not, as they tend to drive further infill drilling campaigns. In the long term, this also increases the chance of production drilling contracts if these projects get developed.

Also of note is that Hummingbird also had positive drill results today:

9m at 26g/t not quite as good as Cora but again this is likely to be a CAPD drilling campaign where such positive results will drive further drilling activity.

In many ways, CAPD's clients success is their success also. Doubly so for the ones where they hold significant equity stakes too.

[currencytrader1] 07/7/2021 15:17

Thanks for update, figures should be the strongest yet with great growth and forward view.
GLA