Share Name Share Symbol Market Type Share ISIN Share Description
Capital Drilling Limited LSE:CAPD London Ordinary Share BMG022411000 COMM SHS USD0.0001 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -3.50 -6.54% 50.00 169,083 16:35:24
Bid Price Offer Price High Price Low Price Open Price
46.00 50.00 53.50 48.00 53.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 90.98 9.86 4.47 10.9 68.0
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:24 O 25,000 48.00 GBX

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Date Time Title Posts
17/7/201910:34Capital Drilling -For Mineral & Mining Exploration1,160
14/11/201308:29*** Capital Drilling ***40

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Capital Drilling Daily Update: Capital Drilling Limited is listed in the Support Services sector of the London Stock Exchange with ticker CAPD. The last closing price for Capital Drilling was 53.50p.
Capital Drilling Limited has a 4 week average price of 45.50p and a 12 week average price of 45.50p.
The 1 year high share price is 56.50p while the 1 year low share price is currently 33.50p.
There are currently 136,248,953 shares in issue and the average daily traded volume is 118,874 shares. The market capitalisation of Capital Drilling Limited is £68,124,476.50.
rivaldo: More news - CAPD have invested around £450,000 in a share placement by Arrow Minerals (quoted on the ASX). CAPD invested at 0.1c, getting one for one options as well - and in return CAPD "will provide drilling services to Arrow in Burkina Faso over an initial two-year period". So more drilling income is guaranteed for CAPD over the next two years. Plus it would seem there are "multiple" other drilling programmes to be undertaken by Arrow in Burkino Faso. And meanwhile Arrow's share price has increased to 0.12c - so CAPD are already 20% up on their investment, with free share options on top: Https :// "Capital raising and strategic alliance Arrow has received commitments from corporate, institutional and professional investors to raise $2 million through a two-tranche equity placement at an issue price of one cent per share plus a one for two attaching option. Arrow has also entered into a strategic alliance with Capital Drilling Ltd (LON:CAPD) who will subscribe for $0.8 million of shares in the placement and will provide drilling services to Arrow in Burkina Faso over an initial two-year period. READ: Arrow Minerals drill results confirm gold potential at Helsinki prospect Michael added: “Following completion of the capital raising, Arrow will be well funded to aggressively explore its gold projects in Burkina Faso and Western Australia, with a focus on high-quality drill targets and year-round exploration. “Also, the support of Capital Drilling, both strategically and financially, will enhance Arrow’s ability to complete multiple drill programmes in Burkina Faso.”
rivaldo: Well, well - Predictive Discovery have made a "significant" gold find in Ivory Coast: Https:// CAPD invested $350k in Predictive at 0.09c. The share price is now 0.17c (it initially rocketed 220% to above 0.3c), so CAPD have almost doubled their money in a matter of a month or two. And I assume CAPD carried out the drilling too.
rivaldo: Thanks for the heads up, I missed that one! Cora is just the latest of these investments - the 3rd or 4th in recent months. I assume as previously posted it's a strategy designed to get CAPD in on the ground floor of new drilling campaigns. It looks reasonable to me. CAPD get presumably quite lucrative drilling contracts, which would then lead on to multi-year contracts with any success, and also giving rise to share price upside in the investee companies. Meanwhile, CAPD's downside from their £300k or so investment in each company is reduced by the returns from the drilling contracts. I wouldn't like there to be too many more of these deals, but with $11m and rising net cash this seems a good use of relatively small dollops of cash which would otherwise sit there unutilised.
rivaldo: Tamesis Partners have updated - they have a 91p valuation: Https:// "Our view – overall a solid start to the year Capital reported it is on track to achieve full year revenue guidance and we are confident that the company will be able to deliver the US$29.3 million quarterly average revenue for the remainder of 2019 to hit the mid-point of guidance (US$110-120 million). The quarterly result is slightly below our forecast at the revenue level due to seasonal effects in Q1. Encouragingly, the company reported increased profitability from key contracts over the period – reinforcing our investment thesis from the FY/2018 results that Capital continues to outperform at blue-chip contracts with top tier mining companies including Kinross, Anglogold Ashanti, Resolute, Acacia, and Centamin. The West African hub continues to grow, highlighted by an exploration contract win with Golden Rim Resources (ASX: GMR) in Burkina Faso. The company is seeing robust tendering activity – any further contract wins will be incremental to the published guidance. Metals prices remain strong, and Capital is best placed to take advantage of any increased exploration spending by the majors and mid-tiers to replace depleting ounces or tonnes. We value Capital Drilling at 91p/share, representing 5x forecast 2019 EV/EBITDA of US$29.3 million and a 1.8x multiple on the current share price. Our forecast 2019 free cash flow is US$13.9 million, implying a 15.7% yield which easily covers the current dividend yield of 3.2%. At the current share price, Capital feels materially undervalued – trading at 2.7x 2019 EV/EBITDA, a strong balance sheet, covered dividend and further growth opportunities in the pipeline."
rivaldo: A good, solid Q1 trading statement today in line with guidance: - nicely up on last year's Q1 - net cash is up strongly to almost $11m - increase in fleet utilisation to 52% from 44% Https:// Most importantly, the outlook remains strong: "We continue to see robust tendering activity in West Africa and remain confident of further contract wins in the region in the coming months"
rivaldo: 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: Https:// "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."
mfhmfh: hopefully share price is mounting a recovery.
rivaldo: At this m/cap, realisations below book value would still provide substantial asset backing for the current share price, without any value for the ongoing business. Particularly as CAPD have always maintained that their asset base is always well refreshed and the best available in the market. I suspect we'll see a bounce as the market takes in the confidence going forward.
lord gnome: Yes, delighted to read that gleach23. Can now look forward to a recovery in the share price. 5-6x EV/EBITDA would equal a share price in the range of 100 - 120 which makes Finncap's target of 109 look right on the money. Still too much in my view, but who am I to argue with experts? WTFDIK?
rivaldo: Finncap have retained their 109p target price and forecast $23.9m EBITDA this year rising to $28.4m EBITDA next year (equating to 5.5p EPS), against a £53m m/cap. They also see a $3.78m cash pile at the end of this year, rising to $8m at the end of next year. The key point here is that despite the Tanzanian situation and therefore reduced revenues estimates, CAPD stated that they expect to achieve existing profit expectations. IMO the share price will continue to bounce, especially given the excellent tangible asset backing and generally optimistic and solid environment now around copper and gold. Plus the variety of new contracts won by CAPD in H1 in the likes of Mauritania, Mali, Egypt etc.
Capital Drilling share price data is direct from the London Stock Exchange
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