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CAPD Capital Limited

90.00
0.00 (0.00%)
Last Updated: 08:39:26
Delayed by 15 minutes
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
  0.00 0.00% 90.00 20,516 08:39:26
Bid Price Offer Price High Price Low Price Open Price
90.20 92.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs USD 290.28M USD 20.99M USD 0.1084 8.30 174.33M
Last Trade Time Trade Type Trade Size Trade Price Currency
09:07:16 O 15,000 90.65 GBX

Capital (CAPD) Latest News

Capital (CAPD) Discussions and Chat

Capital Forums and Chat

Date Time Title Posts
19/3/202407:29CAPITAL DRILLING : global minerals industry services provider3,076
21/5/202008:16Capital Drilling -For Mineral & Mining Exploration1,593
14/11/201308:29*** Capital Drilling ***40

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Capital (CAPD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
09:07:1890.6515,00013,597.50O
08:27:1590.655,5165,000.25O
2024-03-18 16:35:1890.0014,10912,698.10UT
2024-03-18 15:45:3090.001,4791,331.10AT
2024-03-18 15:04:1689.731,2001,076.76O

Capital (CAPD) Top Chat Posts

Top Posts
Posted at 19/3/2024 08:20 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 90p.
Capital currently has 193,696,920 shares in issue. The market capitalisation of Capital is £174,327,228.
Capital has a price to earnings ratio (PE ratio) of 8.30.
This morning CAPD shares opened at -
Posted at 19/3/2024 07:29 by rivaldo
CAPD's holding in Awale Resources looks like becoming another decent-sized holding.

Awale's shares rocketed 42% last night to CAD$0.255 on excellent drilling news.

CAPD hold 8.33m shares per my records, so this is now worth £1.25m.

CAPD are also the drilling contractor at Odienne, so there should be lots more work in the future:



""We are delighted with these assays from the follow-up program at the BBM target. The mineralization is robust and we have now confirmed plunging high grade mineralization over 500m of strike, which remains open in all directions. The consistently high-grade gold mineralization encountered in multiple drill holes underscores the prospectivity of our exploration area and highlights the substantial value it holds for our Company and stakeholders."
Posted at 18/3/2024 09:40 by rivaldo
Tamesis have released their post-results update.

They retain their 160p target price, and note that EBITDA, PAT and net debt were all better than expectations.

They forecast 18.7c EPS this year, i.e 14.7p EPS, with "at least" a 3.04p dividend.

Brief extracts - note that they were "taken aback" by the initial share price reaction!

"And there is more to come: management are guiding to a revenue range of $355 - 375m for FY24. If delivered, and we normally get upgrades throughout the year, it will equate to a 17% CAGR since 2021 and we see no reason for this growth not to continue into 2025. As part of the guidance, the company have specifically guided to revenue from the MSALABS business at $50 – 60m, and reiterated their guidance of 21 Chrysos units to be rolled out by 2025 which we estimate will deliver $80m in sales. Capex is guided to $70 – 80m, covering sustaining capex for ongoing fleet as well as their planned expansions in the US and MSALABS.

We show our forecasts below and in the appendix. At the mid point of guidance revenue grows another 15%. We believe EBITDA will reach $98.7m assuming the margin remains at 28%. Cash from operations reaches $104.9m and net debt goes to $76.1m. This will allow management to pay out at least 3.04pps in dividends – currently yielding 3.4%.

Investment Case

The investment case is still centred on diversified and therefore low risk growth. This in turn has been accelerated by the breakthrough technology that is Chrysos which carries very low capital requirements. The engine room drilling business is benefitting from the increasingly large and high quality client base for whom Capital works and finally the mining service operations have the ability to deliver step changes to the P&L. The growth is accompanied by a dividend and an investment business with assets currently worth $47.2m. We believe the company should start to set investment parameters and structure to its investing. This, along with the release of the margins in the MSALABs operation, may encourage the market to apply a SOTP analysis to the valuation which, using our methodology, comes to 157pps."
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.
Posted at 15/3/2024 09:33 by hpcg
AdamB - I actually disagree on the portfolio - share price movement. I think it correlates reasonably well. I'm kicking myself for not selling at least some in Jan 23 when I had calculated the portfolio value pretty well and though to myself that it would disappoint the market. So it isn't a huge surprise to me that the share price and buying activity has strengthened as portfolio has bottomed and recovered.
Posted at 15/3/2024 07:26 by rivaldo
Indeed, and as well as PDI I'm sure CAPD increased their investment in WIA Gold during last year (I don't have the details to hand immediately).

As it happens, WIA Gold's share price was up another 10% overnight to 0.075 and to more new highs. So the value of CAPD's investment in WIA has almost doubled since the year end and is now worth over £7m.
Posted at 14/3/2024 22:41 by adamb1978
To me the market factors in zero value from the portfolio - when its goes up in a given period there doesnt seem to be any market reaction, when it goes down in value the share price goes down.

I'd love to know what they've frittered $9m away on in 2023 which, counting interest costs, has probably cost them nearer to $10m now.

Share price here would be considerably higher with more conventional governance structures and better, well-communicated capital allocation decisions IMO. There's considerable upside here if management could sort their act out, but there doesnt ever seem to be suggestions that that will happen
Posted at 07/3/2024 15:15 by rivaldo
Apiarist, I've regularly updated the shareholdings in the header post since I set up the thread, and others have contributed details too, so (without guarantees!) most of the shareholdings should be pretty accurate. Obviously the value of those holdings shifts up and down considerably over time.

The exception is Allied Gold, as post-IPO there doesn't appear to be any public record of CAPD's holding. I'd guess this alone is still worth anywhere from $7m-$10m at Allied's share price today (which is currently bouncing, presumably on the back of the gold price as well as recent results and presentations).
Posted at 05/3/2024 07:39 by rivaldo
The gold price has surged above $2,115 this morning.

And two of CAPD's larger investee companies saw good overnight price rises:

- PDI rose 7% to A$0.23 and are near all-time highs (CAPD's holding is worth £23.5m)
- WIA Gold rose 24% to A$0.063 (CAPD's holding is worth £6m)

Absolutely QS99, higher sector revenues/gold prices together with the rosy long-term prospects for gold pricing will surely help in terms of financing potential for both new projects and decisions as to whether to expand existing projects. Thus more and more work for CAPD.
Posted at 28/12/2023 07:21 by rivaldo
Good news overnight from CAPD's investee company Awale Resources.

CAPD are also the drilling contractor at Awale's Odienne project, and after recent investment from the behemoth Newmont Mining, Awale have announced a new drilling campaign at Odienne which is now a JV with Newmont (and Awale's share price rose almost 4% on the news):
Posted at 13/6/2023 08:06 by hpcg
allstar - they are not in control of the timing for the Allied IPO. They are in control of how they sell it down. They should absolutely not be telling the market what they intend to do, just as none of us here would. IMO people speculating about what others think of portfolio is just finding reasons for observed behaviour and not from the horses mouth. I think there was one fund that did object, or complain it was too complicated so they sold out. The turnover of stock must leave it in the hands of investors who are happy about it. Anyone can do a sum of parts and rank the portfolio at zero if they wish.

In my opinion a lot of investors or potential investors are driven by the price of gold. Overlay a chart of the price of gold in dollars and one can see that rallies to highs in 2022 and at the start of this year follow rallies in gold. Gold is consolidating, CAPD share price is consolidating. I actually think there are investors who think we are a gold miner. This in turn because oil companies are routinely called oil drillers despite them having handed the task of drilling off to service companies decades ago (some oil cos do again own drill rigs, mainly onshore and or in unique environments).

One of the benefits of the Fortescue deal is that it will become apparent that we provide services across metals. If investors did their own due diligence they would see that neither the top nor bottom line of CAPD is correlated with the price of gold.
Capital share price data is direct from the London Stock Exchange

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