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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Capital Limited | LSE:CAPD | London | Ordinary Share | BMG022411000 | COMM SHS USD0.0001 (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.60 | 0.71% | 85.00 | 73,154 | 16:35:03 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 83.80 | 85.00 | 84.80 | 84.80 | 84.80 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | USD 348M | USD 17.32M | USD 0.0882 | 9.61 | 165.64M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:36:37 | O | 76,424 | 83.0841 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 19/6/2025 | 12:19 | ALNC |  Capital shares rise as company secures new contracts |
| 19/6/2025 | 07:00 | UK RNS | Capital Limited Contracts Update |
| 12/6/2025 | 13:58 | UK RNS | Capital Limited Director Declaration |
| 28/5/2025 | 12:58 | UK RNS | Capital Limited Notification of Major Holdings |
| 21/5/2025 | 14:08 | UK RNS | Capital Limited Results of Annual General Meeting |
| 24/4/2025 | 11:44 | UK RNS | Capital Limited Publication of 2024 Sustainability Report |
| 23/4/2025 | 11:05 | UK RNS | Capital Limited Notice of AGM and Proxy Form |
| 23/4/2025 | 07:00 | UK RNS | Capital Limited Q1 2025 Trading Update |
| 10/4/2025 | 13:18 | UK RNS | Capital Limited Issue of Equity and Director / PDMR shareholding |
| 04/4/2025 | 12:04 | ALNC | DIRECTOR DEALINGS: Fintel leadership team invest GBP650,000 |
Capital (CAPD) Share Charts1 Year Capital Chart |
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1 Month Capital Chart |
Intraday Capital Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 20/6/2025 | 11:10 | CAPITAL DRILLING : global minerals industry services provider | 3,448 |
| 21/5/2020 | 09:16 | Capital Drilling -For Mineral & Mining Exploration | 1,593 |
| 14/11/2013 | 08:29 | *** Capital Drilling *** | 40 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 22/6/2025 09:20 by Capital Daily Update Capital Limited is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker CAPD. The last closing price for Capital was 84.40p.Capital currently has 196,257,124 shares in issue. The market capitalisation of Capital is £166,426,041. Capital has a price to earnings ratio (PE ratio) of 9.61. This morning CAPD shares opened at 84.80p |
Posted at 20/6/2025 11:10 by bucky lasted Tamesis20 June 2025 Market Cap: US$225m Enterprise Value: US$269m Last price: 85p Target Price: 160p Capital released a company update showing strong momentum across the business as we move into Q3 2025. A new borehole drilling contract at Reko Diq was announced, opening up a further revenue stream at one of the largest copper development projects globally. We also note Reko Diq is ramping up well (see commentary below). Capital has also added new exploration drilling contracts which is excellent news especially at a time of record high gold prices. MSALABS continues its upward trajectory, with the successful commissioning of the state-of-the art commercial laboratory in Nevada and adding new contract awards with Kinross and WIA Gold. Reko Diq Updates Reko Diq is successfully being de-risked which validates the internationalisation of the business. The first tranche of the Sukari fleet is now on-site and will be commissioned over the next month. The second tranche of the Sukari fleet is being prepared for export from Egypt and the Gabon mining fleet is fully deployed and commenced activities in April. Capital is also expanding the business with a new 3-year contract (1-year extension) to provide borehole drilling services to Reko Diq. To fulfil this contract, Capital has purchased a specialised water bore drilling rig which is now on-site and undergoing commissioning. We expect this to contribute to sustained revenue growth although we have not adjusted our forecast for this as we expect the company to provide further guidance. Additional Drilling Contracts Capital have also advanced their core business and won 3 new exploration drilling contracts over the next 6 months with key players comprising Allied Gold (Ivory Coast), Toubani Resources (Mali) and International Continental Scientific Drilling Program (Gabon). Strong Update from MSALABS MSALABS continues its positive growth trajectory in Nevada with the completion of the installation and commissioning of the state-of-the-art commercial laboratory (with the 3rd Chrysos unit in the region), which has commenced processing samples. Furthermore, MSALABS has extended by 2-years the contract with Kinross at the Tasiast Gold Mine in Mauritania, and added a new 3-year contract with WIA Gold, a premier gold developer in Namibia. Valuation The stock rose 13% upon announcement reflecting the market’s enthusiasm for the positive momentum building across Capital’s three lines of business. The core drilling business continues to grow its book of new clients as the gold price environment spurs on new investment, the mining services business (through Reko Diq) is ramping up well and expanding its offerings, while MSALABS is successfully delivering on its growth at Nevada and expanding its customer base. We estimate Capital’s shares are trading on an EV/EBITDA of 4.3x and 2.9x for FY2025 and FY2026 respectively, and FCF yields of 8% and 11%. We also estimate a dividend yield growing from 2.7% to 3.4% in 2026. This is before fully incorporating the effects of the new contracts. We continue to believe these valuation multiples do not fully reflect the quality of and outlook for the business. info @ fpcfinancial.co.uk Prepared by Tamesis Partners LLP |
Posted at 07/5/2025 09:05 by rivaldo WIA Gold's share price was up another 7% overnight to new highs of A$0.225.This is CAPD's largest holding and is now worth £26.53m alone - approaching 20% of CAPD's entire m/cap. |
Posted at 23/4/2025 10:19 by davebowler TamesisSteady Start to 2025 Capital released its Q1 2025 trading update this morning. Revenue came in at $71.5m for the quarter with the core drilling business providing 80%. Mining fell to next to nothing as the company re-routes its fleet into the new contract with Barrick at Reko Diq (which has recently received a funding commitment of $300m from the IFC). The mining contract will ramp up in H2 with some revenue generated in Q2 already. MSALABS has had a strong start to the year through increased utilisation at Nevada (a sign that their efforts here are starting to pay off) and the new commercial lab in Fairbanks, Alaska. We didn’t have quarterly forecasts but the company looks well set to meet our H1 and FY forecasts with the latter in the middle of the company’s guidance range of $300-320m (see Fig1.). Key Points. Segmental Highlights • The core drilling business recorded a solid 10.5% YoY revenue increase as utilisation moved up to 73% from 66% in Q1 2024 - see Fig.2. Further gains are expected as management continue to focus on US operations. • Mining revenue was de minimis but the company signed the mining services contract with Reko Diq Mining (Barrick) and personnel and equipment have arrived and revenue is being generated. The contract is planned to run through to December 2028 and generate over $60 million in annual revenue once fully operational. The agreement also includes a provision for a five-year contract extension after 2028 and covers two major scopes of work: early works civils and tailings storage facility (TSF) mining services. • MSALABS revenue growth had stalled last quarter but recorded a strong start to the year. This is despite typical seasonal headwinds including the winter slowdown in Canada. The first stage of the company’s state-of-the-art laboratory at Nevada Gold Mines continues to ramp up with two Chrysos PhotonAssayTM units. A third Chrysos PhotonAssayTM unit will shortly be arriving in Elko, Nevada, with installation and commissioning taking place through Q2 2025 and sample processing subsequently in Q3 2025; and the company’s new commercial laboratory in Fairbanks, underpinned by large scale contracts with both Northern Star and Kinross, is also receiving samples. New Contract Wins Continue The company recorded new drilling contract wins including: - - An extension of our diamond and reverse circulation drilling contract with Perseus Mining at its Nyanzaga Gold Project in Tanzania; info @ fpcfinancial.co.uk A diamond drilling contract with Sanu Gold at their Daina and Diguifara projects in Guinea; - - A diamond and reverse circulation drilling contract at Asara Resource’s Kada Gold Project in Guinea; and A diamond and reverse circulation drilling contract with Koulou Gold at their Sakassou project in Côte d’Ivoire. Operational Update Fleet utilisation for the quarter improved to 73%, from 66% in Q1 2024 and decreased from 77% in Q4 2024 – the company has an internal target rate oc c.75% across the fleet. Average utilised rigs remained broadly in line with Q4 2024 at 98. ARPOR was $182,000 in Q1 2025, down 9.9% on Q1 2024 ($202,000) and 7.6% on Q4 2024 ($197,000). This reduction in ARPOR is primarily due to replacement rigs being commissioned and not yet hitting their full run rate productivity. We forecast this to move higher through the year. Source: Company filings Capital Investments: Continued strong returns The total value of investments (listed and unlisted) was $36.7 million as at 31 March 2025 up from ($30.3 million at as 31 December 2024), with the portfolio recording investment gains of $7.3 million in Q1 2025. Management notes the portfolio continues to focus on a select few key holdings namely WIA Gold, Sanu Gold and Asara Resources. Solid Outlook with Strong Pricing Background The company reiterated revenue guidance for 2025 at $300 - $320 million with positive momentum throughout the year. As part of this MSALABS should contribute between $50 - 60 million for 2025, another significant increase YoY (FY 2024: $43.6 million). The company also reports that tendering remains robust across the Group with several opportunities progressing. As it should be given the gold price! The travails of the strategically pivotal 2024 are starting to disappear in the rear view mirror with the benefits of leveraging best in class operational practices in new geographies now appearing. At its core the investment case of diversified and low risk growth remains and is strongly supported by a buoyant copper and sky rocketing gold price environment. The engine-room drilling business is benefitting from the increasingly large and high quality client base, the mining services business has a new and large contract to get on with and the laboratory operations also have a strong growth profile to $80m+ (what value would this attract as a separately listed business?). The recent share price performance leaves the company trading on EV/EBITDA multiples of 3.4x and 2.3x for FY2025 and FY2026 and FCF yields of 10% and 14%. We also estimate a dividend yield growing from 3.4% to 4.3% in 2026. This is clearly before the effects of any new contract wins. We continue to believe these valuation multiples do not reflect the quality of and outlook for the business |
Posted at 22/4/2025 10:06 by rivaldo Cheers shauney2, explains today's rise, although the rapidly rising gold price at new highs is likely also helping.I've noticed CAPD have also topped up on another investment, now reflected in the thread header post. They've bought a further 68,750,000 shares (or A$550,000) in Marvel Gold's March'25 placing at A$0.008. Since Marvel are now trading at A$0.015 CAPD have almost doubled their money in a month. Their total holding is now 183,750,000 shares worth just over £1.3m. Marvel's total m/cap is still only A$14m, so no doubt CAPD are hoping this will be a multibagger like PDI etc. |
Posted at 26/3/2025 07:38 by rivaldo Sanu Gold has raised CS12m at C$0.28 in a fundraising from its major shareholders, including Anglogold Ashanti.This has lifted its share price to new highs of C$0.365 - which now values CAPD's shareholding at £4.76m (from the original £650k or so cost): Asara Resources is also up to new highs at A$0.038, valuing CAPD's holding at a further £2.8m. WIA Gold continues to trade nicely at A$0.165, so is worth around £17.8m. So these three are now worth over £25m, with further proceeds from Leo Lithum still to come. |
Posted at 21/2/2025 12:21 by fozzie 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. |
Posted at 10/1/2025 10:45 by adamb1978 Hi AllI've been reasonably active on this thread over the last few years so just to say that I sold out in the second half of Dec. The bull and bear arguments have been done to death so I won't go into repeating them all. I had been thinking of selling 6-12 months before however the entry of teh activist investor in the register last year made me hold on, however they've gone quiet and the share price still hasn't even closed the gap to NAV let alone move beyond it. So given the share price has stalled in the last 3 years despite significant growth, it makes it harder to believe the bull case. Perhaps call me a stale bull! For those still in, the main hope I believe is that liquidation one of the large investments and sale of equipment leads to deleveraging which in turn causes a re-rating. Risk which counters that is the business is becoming lower margin provides a headwind which holds back the price. My total return was 32% after buying in at different points in 2020 and 2021 so not a disaster, but equally I feel not as good as it could have been had the leadership team run the company slightly differently (they're very strong operators but weak in terms of corporate/capital/in All the best, Adam |
Posted at 18/7/2024 17:43 by adamb1978 Hi tightfist - I take a different view. How about investing the $7m in shares of a very, very adjacent company called Capital Limited instead?!? Those shares are trading below NAV so extremely attractively valued and the buying would push the share price up! In my mind, getting debt down or a buyback would be of far greater value to shareholders.Average daily volume here is c.£130k so if CAPD bought back 10% of that each day then the $7m would fund a buyback for a bit over 400 trading days. That relentless buying would push the price up. A great example of this is TIG. They bought back shares day after day after day for about a year and the share price is now up 70%+ compared to pre buyback. In my mind, that would produce better value for shareholders than an illiquid stake in a start-up which could be years from turning into cash. If the CAPD price wasn't below NAV (and they had lower debt) it could be a different decision Cheers. |
Posted at 25/3/2024 16:53 by otemple3 Awale flying today, up another 88% on my watchlistWish we had a larger holding / CAPD share price could have a day like that..... |
Posted at 15/3/2024 10:41 by gb904150 People don't like the gold portfolio because it's not really valued in the CAPD share price.But part of the reason is because we've been in a miners bear market for several years, especially gold miners. Look at the GDXJ chart! Right now PM's are breaking out and people are taking an interest in gold miners again. At some point the value in that gold portfolio will be realised - first via higher valuations and eventually via exits on those positions. That should lead to some special divis or buybacks because they absolutely can't justify ploughing more money into capex than they already are. I think CAPD will just get taken private within the next year anyway...but I hope we get to realise some of the portfolio investments and return value to SH's first. The good insider ownership - Jamie Boyton 10% / Brian Rudd 6% should help ensure it only gets sold if a decent offer is made. In the meantime.....small divis mean you're paid to wait. |
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