Plexus Share Discussion Threads

[paulypilot] 06/11/2023 07:42

I think it helps keep punters interested, if there's regular newsflow, even if contracts announced are not game-changers. So I like the recent flurry of news. It's reassuring that progress is being made. I find with lots of small caps, the gaps between trading updates can be far too long, and then everyone starts to worry, and imagine something bad might be happening when the share price drifts. People are nervous after a hideous 2 year bear market.

[stevehuges] 06/11/2023 07:41

That the second one of these-sort of contracts in the last couple of weeks, all good news and keeps us in the spot light as we gain traction.

[tomboyb] 06/11/2023 07:34

Indeed Paul -

A good RNS nevertheless -

[paulypilot] 06/11/2023 07:27

Good to have another contract win this morning. Individually not huge, at £175k, but I see this as good confirmation that Plexus is gaining traction in the Plug & Abandonment space, where there should be rich pickings in the North Sea (and globally) as we've been told before by the company. I like it when companies say they have potential in a particular area, and then start winning contracts, as it makes the investment proposition more credible.

Plexus has high margins too, the Cenkos note from March 2023 (available on Research Tree) has c.60% gross margins. Also as we've seen before, contracts sometimes end up higher than the initially announced amount (the big one, £5m went up to £8m within a few months after announcement).

This share is a work-in-progress I think, but we're getting a helluva lot of potential for just a £15m market cap. But we're all grown ups, and know the risks too, this one is not for widows and orphans at this stage.

[bloomberg2] 06/11/2023 07:15

Nice trade la

[hotorcold] 06/11/2023 07:09

Nice contract win again

[mammyoko] 06/11/2023 06:59

Is anybody else concerned that this is a one-man show (Ben van Bilderbeek), that he is getting on a bit and that he doesn't;t have a huge financial interest in the company?

There are several scenarios around those risks that wouldn't be good for shareholders.

I took a small position on Friday. I can see all the arguments that this is potentially undervalued - particularly important is the fact that the technology is proven. But won't Schlumberger - who will have the best information about whether sales are going to take off - just step in and buy the thing long before there is any chance of it really multi-bagging? Mr van Bilderbeek doesn't seem to have any significant holding that could in any way oppose that. So isn't the upside much more limited than has been suggested? Schlumberger (or another) would just step in and buy it and whip the upside away from current investors.

Also, I'm unclear about the ownership of the POS-GRIP IP - was that not included in the sale of their wellhead exploration and services subsidiary to TechnipFMC on 2017? Was the IP retained in Plexus holdings as they seem to still be selling POS-GRIP. Does that pout them in competition with TechnipFMC? Would really appreciate some information about the background here.

After GBP27m of negative free cashflows over the last 7 years their ability to absorb further losses must surely be limited? I can see that there is a reasonable turnaround in place for FY24 but do they have working capital capacity to deliver it.

Intriguing but I'm not sure that the potential upside would be left on the table for PIs and the downside is that the contract doesn't lead to lots more contracts and that the creative avenues for generating cash are exhausted.

[hotorcold] 06/11/2023 00:24

https://www.bbc.co.uk/news/uk-politics-67326497Annual oil and gas licences planned with net zero commitment required

[grahamite2] 06/11/2023 00:16

Quite considerably more insane and disgraceful than the mistreatment of the policemen if you ask me.

[jeffian] 05/11/2023 22:57

The other 11 courses?

[monte1] 05/11/2023 20:49

Aye, noice - what is Mrs J having ?

[teh hampster] 05/11/2023 20:32

Nice, enjoy matey.

[james japp] 05/11/2023 20:04

Fish soup and Seafood Cataplana (2 persons) order just placed.

[bloomberg2] 05/11/2023 13:56

Fast forward to 20 minutes for Plexus

[bloomberg2] 05/11/2023 12:52

Paul mentions Plexus's in weekly round up !! Still very excited on there future prospects!! Results this month ! Will report a small loss ! As the market expects!! Out look in statement will be key

[bloomberg2] 05/11/2023 12:27

https://podcasts.apple.com/gb/podcast/small-caps-podcast-with-paul-scott/id1642339156?i=1000633731184Paul Scott's weekly round up

[dominiccummings] 05/11/2023 11:03

Hi there chops! Early notice that I am inviting ye all to an evening, with your partners, to celebrate the Winterval. It will be at "The Bumstickers Club" near Manchester.
RSVP

[bloomberg2] 05/11/2023 10:05

Great find Hotorcold

[source] 05/11/2023 07:47

Nice to see methane tracking (& leak fix/prevention) starting to work it's way into oil companies spending budgets Hotorcold. Given the worldwide pressure & focused effort by governments on this problem it's likely to lead to bigger spending in this area by many oil & gas companies. Also given these companies are cutting back their spending on poor wind & solar projects, now that sham is being exposed, it's not too much of a stretch to imagine that oil companies will now start spending much more on leak prevention & methane monitoring/control in order to demonstrate REAL ESG improvements & progress in their repoting obligations.

[michaelg1] 05/11/2023 07:28

Morning Patriots.

[grahamite2] 05/11/2023 00:42

#9603 Il Gallo d'Oro, I presume. Some quite amusing reviews on Tripadvisor.