Ipsa Share Discussion Threads

[nash81] 18/1/2013 09:37

seems that people bailing out, for bottom drawer for me then :(

[nash81] 17/1/2013 23:53

this one sounds very positive

"the company issued a statement reaffirming efforts to complete the sale."



-----------
Shares in power group Ipsa jumped over 7% on Monday after the group reiterated its commitment to close the sale of its last two turbines as soon as possible.

The group was attempting to sell its remaining two Siemens Westinghouse 701 DU gas turbines to Malaysian power development company Iris Eco Power for $31-million, allowing the group to repay its creditors.

However, Iris Eco Power, in December, sought an extension of the sale agreement, which Ipsa's creditors have not yet agreed to formalise.

In response to a recent movement in the group's share price the company issued a statement reaffirming efforts to complete the sale.

Ipsa initially said it would sell the two 701 DU gas turbines to Lezayre Holdings, but reported that the contract had expired owing to delays.

The company sold the other two of its four gas turbines, which it initially acquired for a power project at Coega, to Bright Day, in January 2012, for $35-million.

[nash81] 17/1/2013 23:11

definitely deal on, as otherwise they would have announced deal was off in the last RNS.

[donald tramp] 17/1/2013 20:16

Deal or no deal?

[sir leonardo] 17/1/2013 20:05

FFS WAIT FOR IT!!!!!!!!!!!!!!!!!!!

[nash81] 17/1/2013 09:39

waitttttt

patient

[sir leonardo] 16/1/2013 22:18

WAIT FOR IT !!!!!!!!!!!!!!!!


FFS WAIT FOR IT!!!!!!!!!!!!!!!!!!!!!!!!!

[tamboerskloof] 16/1/2013 16:59

Waiting on Creditors, as usual.

[nash81] 16/1/2013 16:42

hence, since many here have no clue about IPSA, hence i believe this calculation is accurate which was done referring company own financial statement.

here was calculated


feel free to revise this calculation

[loverat] 16/1/2013 16:37

There are alot of dishonest posters out there who do nothing for these boards. These boards are meant for learning and swapping ideas etc.

There are actually alot of very good traders/analysts on this site but their contributions are often misunderstood and unappreciated because they do not make the effort to justify their comments. I remember coming across someone who I thought was a deramper on one thread and I challenged him to justify his view. He came out with some amazing research and figures and basically proved that previous RNSs had been false. If people used their knowledge and were willing to share it, we would get much more out of discussions on here.

As for the rampers I think there is no harm in being a bit enthusiastic as long as you do not mislead others. For example if trading a share and you comment about you buying, you should say it is a trade rather than saying you are an committed investor.

[drewz] 16/1/2013 16:30

So there you have it. Most of the posters on here recently don't have any insight on the company or its business. They probably wouldn't know Peter Earl from Adam.

It's all a game of ramper vs de-ramper tit-for-tat across advfn's playground by adults with the emotional intelligence of children.

Give us strength and may the caravan move along swiftly.

[6kenny] 16/1/2013 16:27

slong,

Same here. I often track ramps as the share price normally shoots up for a day or two causing further frenzy and panic buying (musn't miss out on this one mentality!)and then a few days later it is heavily sold off as the rampers cut loose and move onto the next share victim.

[slong] 16/1/2013 16:23

Certainly agree with that loverat

For the record I have no position, long or short here, only reason for my being here is the research I did into the company following the spamming on other boards.

I will leave you all with my best wishes, hope the sale comes through asap.

[nash81] 16/1/2013 16:23

ok, guys, can someone re-calculate how much IPSA (ie not just cash, but the whole operations, assets etc) worth and show the figures.

here was calculated


maybe someone else can revise this calculation and show the evidence without just putting the blunt figures in, be it derampers or rampers

[slong] 16/1/2013 16:13

drewz

Its hardly bile, its fact, I post on here so that folks remember to research properly and not blindly follow the idiots that go around ramping the stock on other boards.

If you have taken a position in the company based on research, fair play, and good luck to you, I hope it pays off.

What I dont like to see is people effectivly conned out of money by rogue characters who go around boards with the only aim of making money out of others by offering the easy get rich quick scheme, its akin to receiving a letter saying you have won the Nigerian lottery!

hows that for bile and imbalance!

[drewz] 16/1/2013 16:07

Thank goodness for de-rampers like you then 'slong' to add some bile and imbalance on the other side of the equation.

[slong] 16/1/2013 15:59

It is terrible to think that people get caught up in these ramping scams, I read some of them and do the research on the company, its a shame some people just believe the hype on these boards and stick money in without looking at the fundementals behind it. Best case scenario if the turbines are sold this share price is more than fair value, of course there is more than a chance that the sale has not gone through, and wont go through, and then the company is stuck with unsaleable assets and a boat load of debt.

Always DYOR, then do it again and again!

[6kenny] 16/1/2013 15:48

Looks like the ramp is over here lads, thomas_uk was spamming this stock on so many different threads.

[nash81] 16/1/2013 15:43

ok slong -get your point - so bye bye from us here.

while for me, and the rest, this is the true value, per below

----
thats free cash - remember the cash 2m is after putting aside working capital (about millions ) that they need until 2014.

so, actually if you take that cash on working capital, it will be more than 2m

ie
calculation:
the remaining turbine sale total proceeds = GBP 19.4m
proceeds Will be used to pay off all debts totalling = GBP 15.8
(page 4 of the report)

so, the company will have cash (and debt free) worth
= net cash after sale of turbine = 19.4-15.8 = GBP 3.6m

of these 3.6m, 1.6m will be put aside for further working capital (hence no longer need for dilution/placing) and leaving behind free cash of 2m

IN ADDITION TO THIS CASH, company has assets/plants/equipments worth

= other assets (property/plants) FMV worth = GBP 9.7m

so, total assets/cash = 9.7+3.6 = 13.3m (around 13.3p)

and this doesnt take into account the revenue generated via selling electricity in SA, could easily worth further 10p, bringing total value of 23p plus


so, yes, undervalued especially by derampers who has no time to review company account.

summary here:

[slong] 16/1/2013 15:18

The free cash wont be 3.6m, dont forget this drawn out saga will lead to bigger legal and professional fees and storage costs.

How can you value the electricity business at 10p, it currently makes a loss, look at the half year figures and it makes a gross loss, let alone the admin costs.

I would never invest in a business solely on its FA value is it really possible that IPSA could realise 9.7m for them tomorrow, of course not, it would take time to sell it wouldnt be at the value in the books thats for sure. Hence my value of the company is about 2p, and thats only if the turbines sale goes through! which isnt looking too promising!

[nash81] 16/1/2013 14:17

thats free cash - remember the cash 2m is after putting aside working capital (about millions ) that they need until 2014.

so, actually if you take that cash on working capital, it will be more than 2m

ie
calculation:
the remaining turbine sale total proceeds = GBP 19.4m
proceeds Will be used to pay off all debts totalling = GBP 15.8
(page 4 of the report)

so, the company will have cash (and debt free) worth
= net cash after sale of turbine = 19.4-15.8 = GBP 3.6m

of these 3.6m, 1.6m will be put aside for further working capital (hence no longer need for dilution/placing) and leaving behind free cash of 2m

IN ADDITION TO THIS CASH, company has assets/plants/equipments worth

= other assets (property/plants) FMV worth = GBP 9.7m

so, total assets/cash = 9.7+3.6 = 13.3m (around 13.3p)

and this doesnt take into account the revenue generated via selling electricity in SA, could easily worth further 10p, bringing total value of 23p plus


so, yes, undervalued especially by derampers who has no time to review company account.

summary here:

[jell8] 16/1/2013 13:54

over priced?

[slong] 16/1/2013 12:08

These are massivly over priced, if the sale goes through and leaves circa 2m in cash (1.8p per share).