Share Name Share Symbol Market Type Share ISIN Share Description
Pure Gold Mining Inc. LSE:PUR London Ordinary Share CA74624E1007 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 35.50 1,010 07:45:45
Bid Price Offer Price High Price Low Price Open Price
34.00 37.00 35.50 35.50 35.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 95
Last Trade Time Trade Type Trade Size Trade Price Currency
10:11:10 O 1,010 34.05 GBX

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Date Time Title Posts
16/10/201916:37PURE WAFER $$$$$ PURE GOLD (sic)4,554
04/1/201716:30Pure Entertainment ???7
12/5/201511:12Pure Wafer Plc2,246
09/5/201308:50PUR ,WHY,WHY,WHY18
13/9/201223:38Buying Pure6

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Trade Time Trade Price Trade Size Trade Value Trade Type
2019-10-22 09:11:1234.051,010343.91O
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Pure Gold Mining Daily Update: Pure Gold Mining Inc. is listed in the Mining sector of the London Stock Exchange with ticker PUR. The last closing price for Pure Gold Mining was 35.50p.
Pure Gold Mining Inc. has a 4 week average price of 32.50p and a 12 week average price of 32.50p.
The 1 year high share price is 45.50p while the 1 year low share price is currently 30.50p.
There are currently 267,211,692 shares in issue and the average daily traded volume is 41,930 shares. The market capitalisation of Pure Gold Mining Inc. is £94,860,150.66.
troc1958: Looks like the small investor was "screwed" here today. Opened at 45p moved up to near 48p on no news and dropped back down to near 41p again. So typical of market manipulation "hype". New "Pure Gold" investors ....welcome to the "AIM" market!I still believe this share has potential, but watch the Canadian share price closely and only buy if the TSX $ price converted to £ is equivalent to that quoted on AIM. Beware of the ridiculous bid/offer spread!
alan@bj: Simon Thompson from Investors' Chronicle posted this update yesterday:- There was an interesting announcement yesterday from Aim-traded Pure Wafer (PUR: 123p), a leading global provider of high-quality silicon wafer reclaim services to some of the world's largest semiconductor makers and foundries. I updated the investment case last month when the price was 113p (‘Repeat buy signals’, 11 May 2015), and raised my fair value target price to a new range between 140p to 150p, having initiated coverage when the share price was 72.5p ('Time to chip in', 10 October 2013). As I noted in last month’s article, the company has agreed a full cash settlement with its insurers following a major fire at its Swansea facility (‘Engineering growth’, 5 February 2015), and one that will lead to a substantial cash return to shareholders. That’s because the company has decided not to reinstate the fire-ravaged Swansea plant, due to the fact that business from a number of customers has been lost permanently to rivals, but it will continue with operations at its plant in Prescott, Arizona. The actual size of the payout from the insurance claim has not been disclosed, but the fact that the board mentioned a cash return figure as high as 125p a share was well worth noting. Indeed, from my lens at least, a read through from yesterday’s announcement shortens the odds considerably of a cash return being at the top of the range. That’s because Pure Wafer has announced that Royal Bank of Scotland has given notice of its intention to exercise its remaining 2.2m call warrants at an exercise price of 20p per share. As a result, and as per the terms of the warrants, Pure Wafer has exercised its pre-existing right to cancel these warrants in return for paying the bank £2.15m in cash, representing the effective “in the money” value of the warrants outstanding on Tuesday 26 May, the date of exercise. As analyst Eric Burns at brokerage W.H. Ireland rightly points out: “The obvious implication of the company electing to cancel the warrants rather than issuing new shares upon exercise is that management believes the value of the company is in excess of the prevailing share price (118p on the date of exercise). This is clearly a bullish action and has led us to reassess our estimate of Pure Wafer’s potential sum-of-the-parts valuation.” As a result Mr Burns has “lifted his base case payout assumption to 110p per share, towards the top end of the range, driven entirely by today’s actions. In addition, we continue to believe Pure Wafer’s continuing US business to be worth a minimum of 38p per share based on applying a conservative 4 times historic cash profit multiple whilst acknowledging that, to a strategic buyer, the valuation could be very substantially higher”. Mr Burns has increased his target price from 100p to 148p, at the top of end of my own range. That looks fully justified and with Pure Wafer’s shares priced on a bid-offer spread of 118p to 123p, and offering potentially a further 20 per cent share price upside, I reiterate my buy advice ahead of a further announcement from the company on the size of the payout.
mudbath: bookbroker. I would agree. The PUR share price is not that far ahead of where it stood at their darkest hour. Progress across all aspects has since been transformational. If cyclicality does not impact first then PUR shares,as you say,could become above average performers.
alan@bj: Simon Thompson's tip in full:- I have revisiting the investment case of a small-cap provider of wafer reclaim services on my watchlist, Pure Wafer (PUR: 82p). It's fair to say that the share price of this Aim-traded company is very volatile, having rallied 40 per cent from my advised buy-in price of 72.5p when I initiated coverage in the autumn ('Time to chip in', 10 Oct 2013), to a high of 101.5p on 21 January this year. That was within a whisker of my fair value target price of 105p. I have adjusted these prices for a 10-for-one share consolidation post my original article. Subsequently, the price dropped by a third in a matter of weeks following a pre-close trading update at the end of January. It's one that I believe investors have misunderstood and certainly have overreacted too, making this a good time to buy ahead of half-year results that are due to be released during the week commencing 10 March. Growing industry demand for semi-conductors/silicon chips To recap, global market demand for semi-conductors/silicon chips continues to rise strongly which has been driving demand for 'test wafers' silicon chips. These test wafers are needed for testing, maintenance and calibration of semi-conductor manufacturing equipment. As a result, wafer reclaim is now an essential and highly specialised industrial process enabling the multiple re-use of silicon test wafers. And this is where Pure Wafer comes into its own as the company is one of the world's leading providers of wafer reclaim services which enable semi-conductor manufacturers to gain further efficiencies through greater re-use of silicon test wafers. In order to meet growing industry demand, primarily from Asia and the US, Pure Wafer has been adding capacity to its production facilities in Swansea, south Wales, and Prescott, Arizona. As the leading European and US provider of 300mm wafer reclaim services, the company boasts a 'blue-chip' customer base including most of the world's largest semi-conductor manufacturers and independent foundries. Intel, Samsung, IBM, Texas Instruments and HD MicroSystems are all clients and the company works closely with them to design and develop a service that delivers reclaimed wafers to their exact specification. It's an important source of income as revenues from 300mm wafer reclaim services account for about 70 per cent of Pure Wafer's total business. The planned 40 per cent ramp up in capacity of 300mm wafer reclaim services is clearly going to plan with all equipment required for the increased output in Swansea now installed and ready for manufacturing production. The installation of the additional manufacturing equipment for Prescott, US, will start shortly and is set to become fully operational during the first half of this year. This is good news for profits, which had already shown a sharp recovery in the last financial year when Pure Wafer reported pre-tax profits of $3m (£1.8m) on revenues of $37m in the 12 months to June 2013. In fact, latest guidance is that profits are bang on target to hit the estimates of house broker WH Ireland. Analyst Eric Burns expects cash profits to rise from $6.3m to $6.6m in the 12 months to June 2014. But with the benefit of cost savings, a lower depreciation charge and the operational gearing of the business, this is expected to feed through to a 30 per cent hike in pre-tax profits to $3.9m. On that basis, WH Ireland is forecasting EPS of 14.7¢, or around 9p. So, with the shares priced at 82p, the prospective PE ratio is only nine. Pricing pressure by Japanese rivals That modest rating is partly explained by news in last month's pre-close trading update that the company is facing pricing pressures due to the weakness of the Japanese yen versus the US dollar. This has enabled Japanese rivals, who are already facing a declining domestic market, to more aggressively price their business to a global customer base. That said, Pure Wafer has been able to absorb the decline through cost control to date, so although WH Ireland reined back current year revenue estimates from $39.5m to $38m, up from $37m in 2013, there is no impact expected on profits. Eqaully important is how this situation is likely to pan out in the future. In Mr Burns' view, there are three possible scenarios: either the pricing pressure will be alleviated by a strengthening of the yen/dollar cross rate; or faced with a declining domestic market some of the Japanese players will abandon the market altogether to reduce supply; or alternatively a growing global semiconductor market will put a floor on reclaim pricing. My take is that it will be market growth that will protect earnings of Pure Wafer especially as the factors driving industry demand are pretty strong. Primarily these are the increasing requirement of memory, or DRAM, and technological change. For example, wireless chips have been growing at a compound annual growth rate of more than 20 per cent for the past decade, while demand for units of integrated chips are anticipated to drive demand for silicon and therefore wafer reclaim. Analysts predict demand from this segment will grow by about 8 per cent a year over the next couple of years. The foundry market is very important, too; industry experts predict growth of 14 per cent in 2014, which in turn should be good news for wafer reclaim. So, although I am far from complacent, I can see ample drivers to support demand and boost volumes for the company's wafer reclaim services even in a more competitive pricing environment. Strong balance sheet and cash generation underpin valuation Investors also seem to be ignoring the fact that Pure Wafer has a very strong balance sheet and benefits from robust cash generation. Indeed, with the business generating $5.9m of annual cash flow from operating activities last financial year, and with the benefit of a share placing that raised £4.5m, the company's net debt has been slashed to only $1.6m, or 5 per cent of shareholders' funds of $33m, down from $12.5m a year earlier. WH Ireland expects the company to have net cash of $0.6m by the end of June after factoring the capital expenditure in ramping up capacity. This bumper cash generation not only greatly improves the risk profile, but means that Pure Wafer has been able to fund its capital spend programme entirely from cash flow. And having refinanced credit lines with HSBC a year ago, the company has the flexibility of being able to tap credit facilities if it needs to. These are a £3.5m term loan over four years and a £1m revolving facility, both of which are attractively priced on interest rates of 3 per cent over Libor. Moreover, with no financial concerns and a cash-rich balance sheet by mid-year, Pure Wafer's valuation looks even more anomalous on a peer group basis. Based on the business generating cash profits of $6.6m and factoring in a net cash position of $600,000 by June, the company is being valued on a enterprise value (market value less net cash) to cash profits multiple of 5.3 times. That is quite a discount to Pure Wafer's peer group: AXT (NSQ: AXTI) , Entegris (NSQ: ENTG) , Sun Edison and Shin Etsu (TYO: 4063) . These companies are all being attributed valuations between 33 per cent and 50 per cent higher using this metric. Technical set-up Following the sharp sell-off, Pure Wafer's shares based out around 65p, which neatly coincided with the 200-day moving average. In bull markets, it pays to buy shares on the dips when they retreat back to their long-term trend line and this looks no different this time. Furthermore, with the 14-day relative strength index reading only 50, down from 80 at the January high, there is ample scope for the recovery in the share price from this month's lows to continue. Needless to say, I rate Pure Wafer's shares a buy on a bid-offer spread of 77p to 82p and feel that another attempt at hitting my 105p target seems highly likely in the next six weeks given we are guaranteed a bumper set of financial results and the valuation is hardly stretched at this point. If my target is achieved, the shares would still only be trading on less than 11 times EPS estimates of 16¢ for the financial year to June 2015. WH Ireland is maintaining its target price of 115p. Please note that I have taken into consideration the fact that Pure Wafer is a small-cap company with a market value of £23m, the volatility of the shares and the bid-offer spread when making this buy recommendation. It's worth noting too that most trades can be executed between the spread.
hedgehog 100: From the thread header - "By way of a little diversion,posters can hazard a guess as to the net profit figure(in US$,pre any exceptionals)for the 6 months to Dec.31st 2012,together with an stab at the PUR share price on 31/03/2013 and I will include these in the header for the next 9 weeks. puffintickler...US$1,200,000...6.25pence bains123...US$950,000...7.50pence. firth...US$ 925,000...5.65pence roadster750...US$900,000...14pence !!!! PeterSmith3 ...US$850,000...6.25pence mudbath...US$750,000...4.75pence. AdamB1978...US$600,000...5.5pence lovaine...US$600,000...5.2pence blueskyventurer .....US$550,000...6.00pence. sir leonardo...US$400,000...4.15pence. selurz...US$375,000...4.88pence battlebus2...US$250,000...5.75pence Hedgehog 100...LOSS...US$250,000...4.5pence" In view of the Good Friday bank holiday tomorrow, today's PUR closing price will decide who wins the share price half of the above prediction contest. The current PUR share price is 4.13, so with just six and a half trading hours remaining sir leonardo is in the lead, with myself in second place. What we need now is a few nice buys to nudge the price up to 4.5p by close ... !
petersmith3: Here's the full write up from Steve for new investors. My entry for the NFSC 2013 is Pure Wafer, a business which operates in the semi-conductor industry. Given its record of shareholder value destruction this may seem an unlikely choice, but 2013 could be the year that this under-performer finally rewards its shareholders. Market cap: £10.5 million Share price : 3.75 / 4.10 Financial year end : 30th June. Web site : What exactly does Pure Wafer do? Pure Wafer is in the silicon wafer reclaim business. "During the many stages of the manufacturing process of semiconductors, large quantities of test wafers are used to check the accurate calibration of equipment. These test wafers are a key consumable in the manufacture of semiconductors and the ability to reclaim them through Pure Wafer's advanced process provides manufacturers with the opportunity to reduce costs." (2012 Annual Report) So far as I'm aware Pure Wafer has no significant intellectual property rights or technology which differentiates it from competitors. It operates in a growing but cyclical industry, providing a commoditised service which is nevertheless complex and capital-intensive. Its fortunes are largely dictated by the health of the semiconductor industry. The company also has some limited activity in the design, manufacture and installation of photovoltaic systems in the UK (Pure Wafer Solar). This accounted for just over 6% of revenues in the last financial year. As such it's peripheral to the investment case and so won't feature prominently in this analysis. A Brief History. To understand the current outlook for the business it's worth reviewing key points in the company's history. Pure Wafer was set up in 2000 by a management team drawn from the semiconductor industry with venture capital backing. The business was housed in a purpose-built processing facility in Swansea and listed on AIM in December 2004 at 125p a share. The share price peaked in February 2007 at 360p, giving a market capitalisation of £95 million. In March of that year Pure Wafer announced the acquisition of an additional processing facility in Prescott, Arizona and went on to report full year revenues of £22 million with pre-tax profits of £3.6 million. Things then went rapidly downhill. In the wake of the financial crisis semiconductor production volumes and prices fell sharply. This had a dramatic effect on Pure Wafer's financial performance - in the year to June 2009 revenues had slumped to £17 million and the business recorded a pre-tax loss of £5.3 million. In March 2009 Pure Wafer's shares were suspended. To keep the business afloat the company raised £2 million via a placing and open offer in August 2009. In the refinancing RBS (the company's bankers) and certain directors who subscribed for shares were awarded warrants exercisable at 2p. (By this time the share price had dropped to just 2p - a fall of more than 99% from its peak.) The Road to Recovery Following its refinancing Pure Wafer has slowly clawed its way back from the brink. By June 2012 revenues had increased to $36 million and the pre-tax loss had fallen to $0.7 million. (Note that from 2010 Pure Wafer has reported in US dollars, the functional currency of the semiconductor industry.) Following publication of its 2012 results the company announced a placing and open offer to raise $7 million, thereby halving net debt. Whilst this removed a cloud from the balance sheet, it also trashed the share price which dropped from over 7p to the placing price of 3.5p. Given that the vast majority of shares were allocated to institutions, many private shareholders were justifiably aggrieved by the double whammy of a falling share price plus dilution. So this is a deeply unfashionable company with a long history of losses which has alienated private shareholders. If you've bothered to read this far you'll doubtless be wondering what the attraction is. I've identified three factors which suggest that Pure Wafer is undervalued. 1. Cash Generation The business is extremely cash-generative in relation to its market capitalisation. In the year to June 2012 it generated operating cash flow of $5.7m. Capital expenditure was just $0.2m whilst interest costs and loan repayments ate a further $4.3m. For the year to June 2013 free cash flow should improve dramatically. According to the Placing Document (page 12) the cash raised should yield an annualised cash flow benefit of $2.4m. On top of this the anticipated improvement in trading performance should generate an additional $1.8m in EBITDA (see estimate below). This suggests that net debt could be close to zero by June 2013 at which point surplus cash would need to find a home. 2. Overlooked Assets Pure Wafer's processing facility in Swansea was built in 2000 at a cost of $17 million. The company owns the building outright and has a 99 year lease on the land which has a further 87 years to run. The building currently has a written down value of just $5.8 million (note 14 to the 2012 accounts). This valuation appears very conservative. There's also an unrecognised deferred tax asset of $10.8 million (note 16 to the accounts). This can be utilised assuming the business returns to profit. 3. Anticipated Return to Profitability. In the six months to June 2012 the company recorded a pre-tax loss of just $2,000. Trading performance should continue to improve thanks to a range of factors including increasing production volumes; reduced finance charges (following the fund-raising); and reduced depreciation (an increasing proportion of the fixed asset register is fully depreciated). I'm prepared to stick my neck out and project the following figures for 2013 : - Revenue to increase from $36m to $41m, a rise of 15% compared to the 20% increases recorded in both 2011 and 2012. - Gross Profit to increase from $11.5m to $13.8m (This assumes a gross margin of 34%, the same level as achieved in the half year to June 2012. This errs on the side of caution as improved capacity utilisation has seen gross margin steadily improve from a low of 21% in 2010.) - Administrative expenses to increase by a guesstimated 10% to $6m. (This compares to an 8% rise in the year to June 2012.) - Based on the above, EBITDA to increase from $6.0m to $7.8m. - Depreciation to decrease by an estimated 10% from $5.5m to $5m. (The charge has dropped from a high of $7m in 2011 as an increasing proportion of fixed assets are fully depreciated. Given the very low level of capital expenditure in 2012 a further reduction of 10% appears reasonable). - Finance costs to decrease from $1.1m to $0.4m. (This is based on my detailed analysis of the placing document. Interest charges will fall as capital is repaid and certain loan balances have been reduced in return for early repayment using funds from the placing.) - Based on the above I project a pre-tax Profit of $2.4m in the year to June 2013. - Assuming an extremely cautious NIL tax charge (2011 and 2012 saw tax credits of $0.5m and $0.4m respectively) this leaves a fully diluted EPS of 0.77 cents ($2.4m divided by 312 million shares, assuming all outstanding warrants are exercised). Assuming continued growth in global silicon wafer production the company's trading performance has a strong chance of improving in 2014 and beyond. Valuation of the Business Given its ability to generate cash, Pure Wafer could prove an attractive target for private equity. I believe this offers a useful valuation benchmark. - Assuming a valuation based on 6 times 2012 EBITDA minus net debt gives a valuation of $29 million / £18 million. (6 x $6m EBITDA minus $7m net debt post fund-raising). - Assuming 2013 EBITDA of $7.8m and negligible net debt the valuation increases to $46 million / £28 million. Alternatively, a 2013 forecast EPS of 0.77 cents on a P/E of 10 implies a valuation of 7.7 cents, or 4.7 pence per share. What are the Main Risks? 1. Industry Downturn : If global demand for semi-conductors declines this will hit both production volumes and price levels. Given the high operational gearing of the business a relatively modest decrease in demand could have a disproportionate impact on the bottom line. Pure Wafer is therefore dependent upon the continued growth in demand for smartphones, tablets, PCs and other devices which utilise silicon wafer. (For a quarterly breakdown of silicon wafer shipments since 2000 please refer to the semiconductor industry associated website : ) 2. Currency Risk : The business generates all of its revenues in dollars but has a substantial proportion of its cost base in Sterling. A weakening of the dollar could therefore put pressure on margins, though the operation in Arizona provides a partial 'natural hedge'. 3. Further Dilution : There have already been two highly dilutive share issues and the current 268 million shares will increase to 312 million once RBS exercises its warrants at a price of 2p. However, further dilution appears both unnecessary (thanks to the cash-generative capacity of the business) and contrary to management interests (they have warrants exercisable at 2p and will be reluctant to see the share price trashed once again). 4. Share Overhang : As a result of the recent placing at 3.5p the number of shares in issue has more than doubled. Many shareholders may be happy to sell and bank a quick profit as the share price advances. 5. Obsolescence : Wafer reclaim is a capital intensive business and without the right equipment you're out of the game. However, Pure Wafer's plant is capable of processing both 200mm and 300mm silicon wafer. The next generation of 450mm wafer is in development but is unlikely to be fabricated for at least 5 years ( ) In Conclusion Barriers to entering the wafer reclaim market are high due to capital-intensive nature of the business. The ticket price for a new facility is around $50 million and on top of that there's a supplier accreditation process which takes between 9 and 12 months. Pure Wafer currently appears to occupy a 'sweet spot'. Wafer reclaim prices and volumes aren't high enough to attract new competitors, but they are high enough to ensure that the business generates large amounts of cash from its heavily depreciated asset base. Accounting profit is lagging EBITDA and cash flow, but 2013 should see the business return to profitability. Immediately prior to the fund-raising Pure Wafer's market cap peaked at close to £10 million (127m shares @ 7.7p). After a £4.5m fund-raising, and with debt reduced by more than half, the market cap stands at ..... £10.5 million! This is now a de-risked, cash-generative business in a growing market with high barriers to entry. My research comes with the usual health warnings as it includes a number of estimates/uneducated guesses. I may have overlooked or misunderstood key elements of the story – it's far from straightforward, after all. However, the current valuation of Pure Wafer appears to offer a decent margin of safety. This is not a share for widows and orphans, but the current balance of risk and reward seems attractive and 2013 may see the share price turn the corner.
mudbath: Short term we are going to see selling pressure as holders,who do not wish to increase their exposure to PUR sell sufficient stock to enable them to take up their rights,ie 10%.My view is that most of this type of transaction will by now have been completed. The negotiation of the refinancing package,with its many nuances,has obviously taken several months from inception to announcement.For me it explains the continued failure of the PUR share price to move significantly higher over recent months,when such a trajectory appeared fully justified by the rapidly improving corporate fundamentals. As the impending dilution is a "fait accompli",and with PUR undoubtedly now profitable,we need only to concern ourselves the timing and significance of the impending upward re rating.It is a pity that the next upward move will be from such a lowly level of 3.5pence. Nevertheless,it will be a sweet moment when"normal service is resumed",as will the day when the PUR share price belatedly achieves that 10pence level.
mudbath: roadster750. Your link to The Basher's Handbook provided a most interesting read.Thanks. Not only do we have,with PUR,a set of fundamentals which quite set the company apart from the norm,but also it does appear that "something is up"! When reading between the lines of recent share trading and share price performance data,it does seem that there has been a concerted effort by the MMs' to manoeuvre the PUR share price down to its current level. In previous dips over the past two years it has proved virtually impossible to sell in size at anywhere near the quoted spread.I made a note earlier this year of being offered just 2.25 for a dummy 100k sale when the official quote was 3.25pence to sell. On the run up to the results,investors could buy in only limited quantity,whilst being able to sell in size within the spread. Notwithstanding the brilliant corporate performance(TTM) as demonstrated by the recently published 2012 accounts,the share price was subsequently and surprisingly(imo)marched steadily downwards. The difference on this occasion however has been the eagerness of the market to buy in PUR shares in almost any quantity.Obviously there is no longer a market overhang and indeed as wj12 observed on OCT 12th it was possible to sell 300k PUR shares at 5pence. A similar situation exists this morning with MMs' bidding 5pence for 500,000 shares. As wj12 surmised,"SOMEBODY WANTS THIS SHARE". All will be revealed in the fullness of time,with holders very possibly in line for significant reward.
mudbath: Very relevant to the current low share price is the situation where virtually ALL recent buying has emanated from a limited pool of people who are mostly already contributing to this PUR thread. The potential for Pure Wafer to generate spectacular returns for investors imo has not yet impacted in any way on the wider market. As ItchyCrack observes,even we would have struggled to buy in any significant quantity had the seller not been in evidence over the past three months. For me PUR trading activity will go one of two ways,beyond the very short term;either the current seller will realize that he is selling to cheaply and therefore choose to desist or increase his price-in which event the PUR share price should soar,or,news from PUR will be such that resultant buying will overwhelm the "tap",causing the PUR share price to soar. "Daddy or chips ? "
mudbath: chrisis33. I hope you slept OK after investing so much time researching PUR. Any future material expansion of capacity utilization at either Swansea or Prescott would surely be indicative of continued exponential growth PUR in wafer reclaim volumes. Your conclusion that, "The more I look into Pure Wafer, the greater the potential seems",very much mirrors my own,and others, view of the company and its prospects. It is therefore disconcerting that on every occasion so far,when the share price has shown any strength,it has been subsequently hammered back to lower levels by institutional selling,as has been the case since March when the share price responded positively to the excellent interim results. At least these sales enabled James Leek and Knox and Wells Holdings to take significant stakes in the company;not that their investments have had any impact,so far, on the market's evaluation. Although it is comforting to see the PUR share price edging back towards the more normal bottom end of its trading range;their is the downside of not being able to accumulate further at what did seem particularly advantageous prices. There is a well held view expressed by thread contributors, that as long as the PUR share price remains below seven pence, this does constitute an outstanding buying opportunity.In an earlier post I did outline a justification for a price target of 37.5pence on a three year view,which interestingly ignored any growth in the interim period. As ever,only time will tell. I am away now for a couple of weeks.Keep up the good work in my absence! Mud.
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