Capital Share Discussion Threads

[rivaldo] 11/4/2019 09:38

EDIT - that can't be right, on 4th April he was supposed to have sold DOWN to 10.795m shares. Is today's RNS incorrect or have I misread things?

EDIT2 - I'm sure that RNS is incorrect :o))

[tiswas] 11/4/2019 09:12

Interesting?

[basem1] 10/4/2019 09:33

XD Tomorrow last chance to buy that yield today

[rivaldo] 02/4/2019 07:20

New drilling contract win in Burkina Faso - the tie-up with Golden RIM is starting to pay off:

Https ://www.proactiveinvestors.com.au/companies/news/217186/golden-rim-resources-engages-capital-drilling-at-kouri-gold-project-217186.html

Looks like lots more to come:

"Golden Rim managing director Craig Mackay said with the start of mobilisation of the multi-purpose drill rig to Kouri from Mauritania, the company was now on the verge of what would be a very substantial drilling program"

[rivaldo] 27/3/2019 11:38

New interview with the CEO - sounds encouraging again. In particular he states he's optimistic of revenue upgrades during the year, which is unusually bullish:

https ://www.proactiveinvestors.co.uk/companies/stocktube/12727/capital-drilling-optimistic-of-another-good-year-as-it-grows-presence-in-west-africa-12727.html

"Capital Drilling optimistic of another good year as it grows presence in West Africa
10:32 26 Mar 2019

Capital Drilling Ltd's (LON:CAPD) executive chairman Jamie Boyton tells Proactive London he's anticipating revenue for the mining contractor of between US$110mln and US$120mln for 2019.

The company finished 2018 with net cash of US$10.9mln, up 122% on 2017, and announced a 25% increase to the final dividend to 1.5 US cents per share.

Boyton describes the period as one of significant progress with record net cash generated from its assets, a further strengthening of the balance sheet, as well as 'key strategic growth' into West Africa."

[mfhmfh] 26/3/2019 09:47

gold remains above $1,300

[gleach23] 19/3/2019 19:23

4 quarterly TUs each year on top of Finals and Interims - just brilliant and such a refreshing change to most other companies I own who leave me wondering for 6 months or more whether they are still in business!

Almost makes up for having to wait 10 weeks for cheques to clear for the dividend to be paid (AJ Bell) :)

[mfhmfh] 19/3/2019 18:23

waiting for the Q1 trading update in April - that will be the key. looks like momentum in the company is increasing:

'So, it was a tale of two halves, the first half was solemn, the second half was very strong, and it flowed through to improving margins over the year and strong performance in both EBITDA and profitability.'

All IMHO.

[rivaldo] 15/3/2019 10:49

To clarify, CAPD are forecast to have a $31m gross cash pile at the end of this year - that's over $22m net cash (net of $9m debt).

[deanowls] 14/3/2019 16:07

Mines a quid although I have been saying that for five years. If they can get eight rigs going out of the 31 they have relocated your looking at around 17m extra revenue per year.

[rivaldo] 14/3/2019 12:45

Noticed CAPD's joint brokers Tamesis Partners (mining company specialists) have their research available for free. Which is nice.

Here's today's note - they have a 91p valuation. They see 7c EPS this year, with the cash pile rising to a mighty $31m by the year end!

They conclude:



"Near term price target upgraded to 91p/share

Capital Drilling continues to look undervalued based on its stable core business with long term contracts, an ever-stronger balance sheet, dividend growth and opportunities to grow the contract base further in West Africa. Forecast 2019 free cash flow of US$14.2 million implies a 15.8% FCF yield at the current share price, and management have a proven record of either prudent investment or returning that cash to shareholders (leaving plenty of upside to our 2019 dividend forecast). We value Capital Drilling at 91p/share, representing 5x 2019 EV/EBITDA and a 1.8x multiple on the current share price."

[rivaldo] 14/3/2019 11:00

New interview with the Chairman about the results:



He's "confident" of announcing more contract wins in Q2. Also interesting to hear him talking about CAPD starting to gain traction in providing additional laboratory and maintenance services.

[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