Capital Share Discussion Threads

[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.

[mfhmfh] 17/1/2019 11:16

Also, this in the outlook:

'...with the Group experiencing higher than anticipated demand in H2 2018.'

[mfhmfh] 17/1/2019 11:16

I felt the update was quite positive:

· Full year 2018 revenue of $116.0 million, above the top end of the 2018 revenue guidance of $105 to $115 million

· Significant increase in free cash flow generation with period end net cash increasing to $10.9 million, from $3.4 million at June 30, 2018

· Gross debt reduced to $9 million (2017: $12 million) including a further $1 million reduction on the Group's revolving debt facility in the December quarter

All IMHO.

[troc1958] 17/1/2019 08:11

Positive H2 results. Full year revenue above guidance. Rig utilisation up. However the significant drop in ARPOR to 181k is a concern. Their explanation that a higher % of exploration rigs being used does not fully explain the drop. Imo they are discounting rates to gain market share in West Africa

[chinahere] 28/12/2018 12:15

In the FY accounts 2017 they say their debt costs US LIBOR +5.75%.

Have they said why they haven't paid more of it off from cash?

[rivaldo] 12/12/2018 13:13

Yep, this secures another chunk of revenues for the next year.

Forecasts for the coming year are for 4.9c EPS, with $6.2m net cash rising to $7.7m at the end of next year. Plus of course there's the huge tangible NAV as back-up for the current m/cap.

[mfhmfh] 12/12/2018 09:31

positive contract extension announced today IMHO.

[aim_trader] 26/11/2018 10:25

Capital Drilling will be presenting to investors at the Mining Capital Conference in London on Thursday 29th November. For details and registration, click here:

[gleach23] 21/11/2018 18:07

It would seem to be an AJ Bell specific issue then rhomboid...the one you initially alluded to and the one they are not being very transparent about. I was so piqued I even managed a maiden tweet after 7 years on twitter :)

[rhomboid] 21/11/2018 16:42

Same situation with Somero dividend...

[gleach23] 21/11/2018 16:31

Still no dividend from AJ Bell - it'll be 7 weeks late this Thursday. To me they blame Bank of America whilst at the same time claim on social media that they are working very hard to resolve the situation. Hmmm...

[gleach23] 02/11/2018 12:11

Not many shares available to buy online this morning which hopefully bodes well, along with the 25k buy @ 38p.

Still not received my AJ Bell dividend 'paid' on 5th October. Completely unacceptable.