Capital Share Discussion Threads

[pugugly] 17/5/2013 11:50

Valhamos:. Thanks = Just been back to check the last presentation.



Looks like 24 rigs out of a fleet of 92 locaated in Egypt - Possibly all CEY as no split given and we know CEY is major client - So worst case some scenario 25% of total rig fleet utilisation at risk. Or as from todays notice fleet utilsation was "Rig utilisation of 66%," 66% of 92 I make 61 rigs in use - So say CEY current use account for all the 24 in Egypt (I cannot locate a figure for AngloGold in Egypt) then it is possible that the figure of 40% I was working on may have related to the %age of rigs currently in use.

Does this seem about right ??

Drewz:> Agreed re well run and competent company. Which is why I am interested and watching.

[drewz] 17/5/2013 11:02

Shares are on sale again I see.

Time to nibble a few more. This is a very efficient well run business and will make money even through the temporary downturn in demand over the next 18 months.

[fishbournetrader] 17/5/2013 10:37

If Centamin lost the court case then they will continue production on the small area which is not in dispute and which still represents most of their current production. Meanwhile, unless the Egyptian authorities give up on gold extraction from the disputed area, there will still be a need for drilling rigs and Capital have to be in the best position to provide them to whoever is awarded the rights. In fact, is it not likely that the extraction rights would be renegotiated with Centamin on terms that are a little more favourable to the Egyptian government? This all represents a lot of uncertainty so the CAPD share price would definitely come under a lot of extra pressure.

[valhamos] 17/5/2013 10:32

Pugugly

See my post 547. As per the statement last October CEY cannot be anywhere near 40%

[pugugly] 17/5/2013 10:10

deanowls:> I think you will find CEY is a very much larger share of their business. I have seen estimates that CEY is closer to 40%. Can anyone confirm ?

In which case if CEY have major problems as a result of the court case in Egypt then possible (imo) the share price could drop back to somewhere nea, or below the 15p low of the year


Thoughts/comments ?.

[gleach23] 17/5/2013 07:18

Perhaps not! A pretty grim update...

[gleach23] 16/5/2013 16:17

trading updates have been on 17th may last 2 years...chunky trades today and now a tick up...I topped up on yesterday so let's hope it bodes well!!

[deanowls1] 15/5/2013 13:51

Just took another 12000

[valhamos] 15/5/2013 12:09

price gradually falling into my top-up range

[deanowls] 11/5/2013 07:28

Pauly Pilot mentioned that the PR of CAPD were raving about them to him at a function, if you read this PP is there anything of note there?

I cant see any news due to move this upwards so maybe drift down until there is clarification one way or the other regards CEY, being as this is only 25% of the business I would say this others an oppertunity over the medium to long term however if they employ a PR firm what are they doing to get this going?

[valhamos] 31/3/2013 23:13

El1te - What's your source for the the comment that Centamin accounts for over 30% of revenue?

In the statement of 23 October, Egypt and Tanzania combined accounted for approximately 40% of revenues. There are 17 rigs in Tanzania and 25 rigs in Egypt. As well as Centamin in Egypt, CAPD also works with AngloGold Ashanti. Therefore over 30% just for Centamin seems on the high side.

[el1te] 30/3/2013 20:50

Capital Drilling - A Mixed Bag

Feel free to sign up for free email updates using the box on the right or leave a comment beneath the article.



Best of Luck with your investments and have a good Easter,
El1te

[hedgehog 100] 30/3/2013 16:06

For any newcomers to CAPD, please note the following thread which may be of interest: "Mining Services Companies: 'Picks & Shovels' Plays" -



In fact, a couple of days ago I posted about a useful interview with North American mining guru John Kaiser last month, which I believe reinforces the attractions of mining services companies.

[technofiend] 20/3/2013 18:21

From what I understand the Sukari mine is now allowed to run as normal while the appeal process continues. So while the news is not conclusive it appears to be very positive for CAPD.

[thepopeofchillitown] 20/3/2013 17:48

Down she goes

[drewz] 20/3/2013 09:40

And up she goes!

[mirabeau] 20/3/2013 09:37

News at CEY. + so far for CAPD

[rivaldo] 18/3/2013 15:35

New presentation FYI:



The Outlook page states "Earnings underpinned by existing clients and operations. Tendering on new contracts expected to impact H2 2013", i.e any contract wins should benefit CAPD from this coming H2.

[rivaldo] 18/3/2013 14:05

The most interesting part of the interims for me was that despite the comments about the economic outlook, utilisation etc the CEO felt able to comment that "As we commence 2013 we are cautiously optimistic of an improved performance".

Better than historic 7p EPS would make CAPD pretty cheap.

In particular, the $24.1m net cash generated from operating activities and $37.9m operating profit before working capital compare rather nicely with the $14.1m reported PAT.

We know that cap ex should be drastically reduced this year, so cash roll in from hereonin. And receivables, which grew roughly in line with turnover, should also improve given the comment about " the timing of period end cash collections".

It's also worth noting that with $74m of PPE and $95m of net tangible assets, the TNAV equates to around 70c per share on 135m shares in issue.

[technofiend] 18/3/2013 13:29

Entirely as expected.

Revenues were up also. The minor blip from CEY's troubles is entirely possible to overcome over the next year.

Markets appear to be waiting until CEY court result on Wednesday.

[deanowls] 18/3/2013 08:04

Growth is a bonus, reduced capex will push the ebit higher in the next year, along with the expansion (fingers crossed at centamin) should be good, hopefully and there is no clue in the results the mines that reduced operation at the end of the year have they picked up?