Capital Share Discussion Threads

[deanowls] 14/3/2019 09:38

Reminds me of avesco in some respects. They are happy to have a high capex to keep the fleet young. They could scale this back if required.

I’d expect the costs of setting up in west Africa to be quite a bit which will come back this year.

[mfhmfh] 14/3/2019 09:38

hxxp://www.capdrill.com/media/investors/Presentations/CAPD-FY2018-Results-Presentation_Final-20190313.pdf

[mfhmfh] 14/3/2019 09:01

also happy with the 25% increase in the final dividend.

[insideryou] 14/3/2019 08:52

Tiny amount of stock traded for such results

[gleach23] 14/3/2019 07:58

Makes for very pleasant reading. A testament to the way management have navigated through the Tanzania situation which brought the share price down.

[muffster] 14/3/2019 07:31

Our stated strategy of building our long-term business, coupled with a robust balance sheet and a focus on maximising the generation of free cash, is expected to see shareholders enjoy strong dividend growth, with a final payment for 2018 of 1.5c

[rivaldo] 14/3/2019 07:25

Excellent results today - and an "encouraging" outlook for this year. In particular they say:

"we anticipate a further improvement in profitability in 2019"

- around 4.3p historic EPS
- revenues above the top end of prior guidance
- 1.5c final dividend
- almost $11m net cash
- rising ARPU in H2'18
- encouraging comment about "optimism for further contract wins over the year ahead"
- profitability underpinned by long-term contracts

[rivaldo] 13/3/2019 13:29

Nice.

And news yesterday of CAPD mobilising a second rig at a site in Ivory Coast:



"In order to quickly test the combined Typhoon/Mise-a-la-Masse targets, Capital Drilling will mobilize a second drill rig to complement the one on the current 6,000-m drilling program designed to test high-conductivity targets defined by Phase 1 of the Typhoon survey. The drilling program is targeting semi-massive and massive polymetallic sulphide anomalies located between 600 m and 900 m from surface."

[mfhmfh] 13/3/2019 10:46

rising ahead of results tomorrow. GLA.

[gleach23] 08/3/2019 09:56

thanks rivaldo - good to have you back to bring us all up to speed :)

let's hope the revenue outlook holds up next week mfhmfh

[mfhmfh] 08/3/2019 09:39

let's see what 14th March brings

[rivaldo] 08/3/2019 08:29

News - CAPD has cornerstoned a $2.25m fundraising by Aussie-listed Golden Rim Resources, taking a 12% stake.

Clever stuff. For a relatively de minimis £350k or so investment (from a quick calculation) CAPD will presumably get the drilling contracts in Burkina Faso - extending their West African involvement - and also get the potential upside from their investment:

https ://www.proactiveinvestors.co.uk/companies/news/215673/golden-rim-resources-attracts-225-million-to-advance-kouri-gold-project-in-burkina-faso-215673.html

[gleach23] 06/3/2019 13:21

Now after that brief flurry of buys and with the market quote @ 43-45 there is still only 1500 shares available to buy and bid has moved up to 44.5 for decent volume

[gleach23] 06/3/2019 10:44

At 43-44, this is looking promising for an upward move with just 1500 available to buy online and a strong bid up @ 43.65. A break above 45p would be very nice.

Finals next week (14th).

[deanowls] 15/2/2019 07:08

Does anyone know if they have the contract with CEY for the Ivory Coast area announced this morning? Should see more business coming our way if so?

[mfhmfh] 11/2/2019 14:08

hopefully share price is mounting a recovery.

[deanowls] 05/2/2019 13:58

A couple of wins would be nice from all those rigs located.

[gleach23] 05/2/2019 11:20

Yes a nice move rivaldo and not much stock about. A couple of 5k/10k trades might see us cut through the 40s in short order with any luck.

Finals 5 weeks on Thurs (14 March)

[rivaldo] 05/2/2019 10:52

Moving up now. The rising gold price should help nicely.

[gleach23] 21/1/2019 14:01

Noteworthy that a trade of 58,261 shares this morning @ 38p preceeded today's rise. Potentially an overhang cleared?

Furthermore, can currently only get a quote to buy 1500 shares with plenty on offer on the sell side so fingers crossed we may get a long awaited push up...

Edit - also looks like a mini breakout on the chart above 40p in progress

[deanowls] 21/1/2019 11:50

Just need to see a few more contracts drop in and we will be away.

[rivaldo] 17/1/2019 12:29

Agreed - I was also pleased with the update. Revenues which are above the top end of guidance are great for a start :o))

Excellent H2 utilisation too. And "there has been a substantial increase in new tender opportunities in the second half of the year".

Net cash is up to almost $11m now and should continue to rise nicely.

Plus:

"The current year has started strongly with solid tendering activity in West Africa, where we are benefitting from the infrastructure investment that we have made over the past 12 to 18 months."

There's a natural caution given the capital markets, but with the gold price looking strong there could be good upside from here.

[gleach23] 17/1/2019 12:26

I also took it as a broadly positive update with the prime caveat being the comment about a recent pause relating to global trade tensions which, if persistant, have the capacity to dampen future activity.

On the ARPOR reduction they gave "reflecting increased utilisation of exploration rigs, single shift operations in Kenya and Botswana, and contract commencements in Tanzania and Côte d'Ivoire" as the explanation.

Nice to see it go blue after the early dip but has been a frustrating hold in the last 18 months.

[deanowls] 17/1/2019 11:27

Troc if the new units started part way through the period they are active but will not realize the full period sales thus reducing the overall figures. A ten percent increase in rigs wouldn’t start on day one. The next period hopefully has the same issue with rising sales on the back of a higher utilization. Nothing to worry about I believe.