Commoditrade Share Discussion Threads

[topinfo] 17/8/2010 16:01

Mentum Inc.

formerly Commoditrade Inc

("Mentum" or the "Company")

Change of Name

New AIM ticker

Further to the announcement of the result of its Annual General Meeting on 27 May 2010, the Company is pleased to announce that the change of its name to Mentum Inc will be effective and that trading of shares under the this name will commence at 08.00 a.m. on 18 August 2010 under the AIM ticker MEN.L.

Enquiries:

Mentum Inc

David Phipps

[dean382] 14/8/2010 12:28

Truffle thanks for your reply.

As for the name change TBH I am really not that concerned that it's taking awhile (I am hoping they have been far to busy to get around to it!) and as 77Monty mentioned in his post no 2511 on 11 Aug there might be no point changing the name if there is going to be a buyout, but personally I cant see a buyout happening mainly because the rumour came from a newspaper, plus IMO the 04.5p reported price is simply to cheap for a company that has generated US$20 - US$30 over the last two years even with the large losses they have incurred (most of which I believe can be easily explained and are not that surprising with all that's been going on) and as mentioned they have no debt (as of April) and with the more normal trading conditions expected this year plus the new revenue streams planned and the renegotiation of the trades now sorted I would expect them to achieve revenues of between us$30 – us$40 million for 2010 with a profit of around us$5 – us$10 million, so the company has got to be worth more than £16mn IMO, especially if they can start generating profits as anticipated in the last RNS, so I would not imagine the large share holders would be very interested in that offer (if it exists) now that things seem to be turning, but until we see the half yearly report it is very hard to call and perhaps hence the very low valuation of the company.

Just out of interest you mentioned you have held these shares for a few years, would you or any other long time holder be happy to take the 0.045p per share offer reported by the newspaper especially now just before the half yearly report?

All IMO.

Many thanks.

[truffle] 13/8/2010 14:20

Interesting, thanks.

Agree with most of what you say and there does seem, at long last, some reason to believe that the worst is behind us for those who, like me, have been in this share for some years and are inevitably long and wrong and hoping for a recovery.

As I said recently, an update/confirmation on the name change to Mentum would be a welcome start - can't understand why it is taking so long to implement, as well as a timely announcement on the interim results.
If the interims are reasonable and confirm the changes and progress that have been flagged by the company over the past year, then a recovery could really be on the cards.

[dean382] 13/8/2010 11:57

I have been looking into Commoditrade (soon to be Mentum) after the company was brought to my attention from an article saying there might be a possible buyout for 4.5p a share, (which came from a newspaper so I really don't pay any attention to that) but having done some research on the company I am now considering buying in as it looks like it could possibly be a good buy at this price (3p) IMO.

I am very aware that this is not a popular company with many as the share price has collapse from it's high of over 50p a share in 2007 and also the a lack of any information coming out of the company of late, but having said that if there is nothing to report there is nothing to report.

Looking at the accounts the company dose seem to be able to make good profits when trading conditions are normal £16.7mn in 2007 on turnover of £33mn (obviously before the markets all crashed) which I thought looked very promising, but I am presuming they got hit by the global down turn the same as everyone else and at the time where doing the restructuring of the company due to buying (AMCO Fund Management in 2008-09) installing a new state of the art trading platform (which I presume would not be cheap) as well as changing to new premises, so I presume that was some of the reasons they put in such a large loss 2008-2009.

It's no secret that commodity trading collapse in 2008-2009 as can be easily seen by the collapse in the base metal prices across the globe so I don't think it's any surprise they made losses during this period with everything going on although the losses are rather eye wateringly large to say the least (2009) US$(14.7) million (2008: US$(40.9) million), however there dose seem to be some positive regarding Commoditrade going forward as they still seem to have reasonable revenues streams generating - US$20.1 million 2009 and US$31.1 million 2008 and with the renegotiation of the contracts with Sucden Financial ltd which they have done giving a much better rate for trades, less shares in issue after they did a share buy back program of 50mn shares in 2009 a new state of the art trading platform which they have now installed plus they seem to have more revenue streams planed for later this year (as yet to be seen or announced!) so personally I think things are looking far more promising this year and looks to me like they are now well positioned to make a good recovery and possibly even starting to show some profits throughout 2010-2011.

The loss they had for the last six month of 2009 was $US2.4mn compared to $US12.3 for the first halve so things do seem to be improving fast and if they can get back to normal trading conditions this year they might look like a good buy at this price IMO, bearing in mind the market cap for this company is only £9.73mn as of today and after all that's going on with the company and the markets ect they still have no dept (as of April this year) which is at least one good thing and I also thought the last RNS on 30th April 2010 sounded very positive going forward with a return to profit expected this year, but this is just the way I read it and I could be way off the mark here and would very much appreciate any feed back or views regarding this company.

I also noticed that the AGM was held in Switzerland!!!!!! On the 27th May and was a bit surprised by that and would be very interested to know if anyone actually went?

Lastly like many on here I would like to see more information coming from the company even if it's just to say hi we are still here!! Plus it would be nice to see some decent director's buys to show the market that the management think there is value in the company and TBH I am a bit surprised that they have not already. (I am not sure when they can and can't buy with the half yearly report expected on or around the 24th September 2010 plus the reported possible take over), although my thoughts are that 4.5p is far to cheap and I would not imagine the management entertaining that sort of offer if they are in fact now making profits, all IMO.

Many thanks.

[77monty] 11/8/2010 15:55

Somethings occurring.... check out those trades

[77monty] 11/8/2010 15:08

Could be that there is no point changing the name if they know they are going to be gobbled up.

[truffle] 11/8/2010 14:57

There was a report in one of the papers a week or two ago suggesting a rumoured bid at 4.50p which may account for the support.

However, would rather see the name change go through (why is it taking so long?), get the interims out quicker than last year, and see some real evidence that the changes that have been implemented over the past year are resulting in decent profitability and progress at long last.
That in turn might get the price to rather higher levels in due course.

[77monty] 11/8/2010 14:42

Well, can sell in decent volumes at 2.8 so there is clearly a buyer about.

[truffle] 11/8/2010 14:36

The only two news items that we might expect soon are the name change to Mentum (approved at the AGM on 27th May as reported by the company) and the interim results (announced late Sept last year).
In both these cases it would be nice to think that they will be confirmed/announced soon.

[jonno1] 11/8/2010 14:07

what was that?

[77monty] 09/8/2010 13:39

Does anyone know when the next news might be due?

[sheeneqa] 04/8/2010 10:41

R.I.P....................

[a2584728] 03/8/2010 12:01

Where's this bid then??

[sportbilly1976] 27/7/2010 12:38

just gone 2v1 now....

[truffle] 27/7/2010 09:53

Thanks for the article.

[sportbilly1976] 27/7/2010 09:53

..an interesting one - the rise this am could prompt a statement

potential double bottom forming too for longer term share price growth as well

[topinfo] 27/7/2010 09:48

Market report
The Times
Published: 27 July 2010
Markets Business ...not be novel, but could a bid finally be on the way for Commoditrade? Although unchanged at 2.375p, there were whispers that an offer of 4½p a share was imminent. Commoditrade has an interest in a team trading at the London Metals Exchange...

[truffle] 27/7/2010 09:44

No, not seen the papers yet.
Can anyone post the article, please?

[s50cam] 27/7/2010 09:34

Anyone read the Times this morning, apparently a 4.5p bid on the table ?

Anybody confirm ?

[truffle] 05/7/2010 12:52

Is there anything going on here? Is 'no news' good news?
Presumably the name change to Mentum must be imminent as the go-ahead was confirmed back in May.

[dasv] 29/6/2010 23:29

glad I sold in sep 09

[kooba] 17/6/2010 17:45

they did fall on 25000 shares traded which is £750 worth so not worrying too much.half year end june and i'm hoping we get a more positive update shortly after period end...they've now kitchen sinked everything into last year. now with all the reorganisation, new business lines and system improvements etc etc etc we have been fobbed off with for months and months are we actually making any money...be interesting to find out when this company finally tells us what we are shareholders in exactly and perhaps whether we can expect to make a return on our capital employed.

[a2584728] 01/6/2010 15:09

More chat of good things coming.....we shall see.

[chrisdgb] 28/5/2010 15:36

more decent volume just getting printed..