On two yardsticks, P/E and Price to NAV its seems to be a bargain. Hope so anyway, as it's one of my bigger holdings. |
yasX, ironically, but of no benefit to shareholders, you have it the wrong way round. The cash from the investments has been a saving grace whilst the main business, in particular the expansion into Nevada, has struggled. |
NK104,
I pointed out the same to the clowns on this thread a few years ago - hoever, Rivaldo and his band of merry men told me I had it wrong and the brokers had valuations of over 150p. All contributors on here do is point out that the investment side of the business is doing well. Only if/when such illiquid holdings are sold do they have value since otherwise theyvremain holdings in speculative microcaps which usually end up hitting a brick wall. The market is cynical and rightly so. |
Clearly the market doesn't believe in CAPD's prospects, I guess we'll find out who's right with the next results. In the meantime it's certainly frustrating! |
Yea i feel your pain but logically we are incredibly well placed to benefit from this gold bull market without the risk of single country mining or the high valuation of gold streamers. These value funds that bought in know this |
Need to get their act together and sort out Nevada! |
Having held for c5 years the arguments around the share portfolio and its effect on the CAPD share price remain the same. I think there is value here but seriously the management need to get their collective act together and start to realise some shareholder value. Granted I could have sold above 100p on many occasions and made a nice turn, I didn't because I believed the shares remained undervalued. |
Sanu Gold's shares are up 12% overnight to C$0.28 after news that they've launched a new drilling programme (CAPD's holding is now worth £3.7m) - and you'll remember that CAPD are also the drilling contractors: |
True, not ascribed any value but converting to cash any time soon would be a big mistake imo.
CAPD's poor performance is mostly of its own making. Getting involved in contract mining that has brought new complications, lower margin work and the problem of purchasing and reselling lots of expensive kit that depreciates.
The water monitoring sideline remains to be seen whether it's worthwhile or not, but it would have been nice if that 'spare' $7m had been returned as a divi.
The investment portfolio is complementary to their day job. They get the chance to invest in early stage mining projects and are close enough to the companies and management to know a good prospect and get a good deal.
The greatest mistake would be to sell those projects too soon, just as a bull market in gold is getting going. I think the portfolio should just be held for as long as possible.
If the prospects and projects were good, the value will out. |
Problem is that these stakes not ascribed as having any value by the market. Now the market is hopefully completely wrong, but they don't have value unless they are converted into cash at some stage. |
Cheers Jeff H, I've added Apollo to the thread header summary. I note that Apollo are now trading at A$0.018, so CAPD are almost 30% up in just a few days!
As well as the WIA stake now worth £17.8m and SANU at £3.3m, the 150m shares in Asara have been steadily rising. They'e now at A$0.034 and so worth a further £2.6m. |
I previously posted (3338) Capital providing drilling for Apollo Minerals.
Phase 2 of the drilling programme has now commenced:-
....and Capital Limited have now taken a 6% stake in Apollo, investing about £400k:- |
Kaizenkid, certainly my estimate was too low - according to this CAPD now own 220m shares in WIA, as opposed to the 183m in the thread header, so they must have bought some more in a fundraising or on the market at some point:
So 220m shares at A$0.16 at the current 1.98 exchange rate means the shareholding is now worth £17.8m against CAPD's £151m m/cap.... |
I have that CAPD own 17.8% of WIA. WIA market cap is 138m in USD - so stake is worth $25m - 13% of the market cap. Either way its nice to have and offsets a decent chunk of the gross debt. |
Further to Sanu Gold's rise above, WIA Gold is also at around new highs at A$0.16.
At current exchange rates CAPD's holding in WIA is now worth £14.2m - almost 10% of CAPD's entire m/cap. |
Sorry for not doing my own research here, but can someone explain the PDI deal "they will be due 50% of if a deal is done before 31dec".
Why would any company not wait until after 31 Dec, to avoid huge dilution on their sale?
I don't get the economics of the deal. Surely this deal is simply a guarantee that they won't sell before 31 Dec?
What have I missed? Is there a deadline for a deal to be done? |
CAPD's 24m shares in Sanu bought last year at C$0.05 have now almost five-bagged (or four-bagged depending on your point of view!) to CS0.245, up another 23% overnight.
They're now worth around £3.3m.... |
Cheers catsick - and PDI were up another 10% overnight to A$0.33.
Leo Lithium have just completed their first tranche distribution of funds to shareholders of A$0.172 per share.
This means that CAPD should by my calculations have received an initial £0.9m or so in late January, with a further tranche to be received in July:
And Eco Detection have announced another sale:
"We are proud to announce that our dual channel, dual input ION-Q+ has been operational at the TasWater – Western Junction Floating Wetlands since November 2024.
Our innovative water quality monitoring technology provides continuous performance monitoring, setting us apart from the competition.
Eco Detection was selected to quantify the performance of the Western Junction Floating Wetlands, highlighting our commitment to excellence and innovation in water quality monitoring solutions." |
Predictive rising fast , there is now 50% profit they will be due 50% of if a deal is done before 31dec , could be significant amount |
Another all time high overnight in Gold. |
Gold is at an all time high,so surely there will be a knock on effect to CAPD's NAV and demand for its services. |
Yup, they know the roundabout figure and should disclose it.
No mention of the water company.
It was always going to be a tough start up in the USA, higher wages and costs than Africa, support from HQ a long distance away. Get it right and it’ll be fine.
Overall an opportunity here perhaps. |
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