Pure Gold Mining Share Discussion Threads

[jakecook] 30/4/2014 14:35

The reason for the buys was ST tipping it today...I guess we will have to wait a bit longer.

[jakecook] 30/4/2014 13:47

Massive buys today. Are we expecting news?

[puffintickler] 30/4/2014 13:16

Must be a mention somewhere....

[hutch_pod] 25/4/2014 16:00

Ahh I felt a bit downhearted when I saw the Appeal (uncertainty, time wasted if nothing else) but cheered up no end reading the comments !!

[roadster750] 25/4/2014 15:33

thanks,glad to help guys,

latest news coverage of the intended appeal, seems these guys dont know when they're beat, the readers comments indicate the views of the average Joe!

www.dcourier.com/main.asp?SectionID=1&SubSectionID=1&ArticleID=130980

[alan@bj] 25/4/2014 09:45

Looks like we're not out of the woods yet. This is from the City of Prescot's website today:-

Next Steps
Review of the Court's decision has identified several points of serious concern about the 17-year-old development agreement and its judicial interpretation in 2014:

The Court's decision extended well beyond the development agreement provisions, as well as the pleadings of both the plaintiff (Pure Wafer) and defendant (City).

Despite specific provisions in the agreement to the contrary, the Court's decision effectively relieves Pure Wafer from any responsibilities for limiting the fluoride level in their plant discharge, and more broadly, from any specific obligation for environmental compliance.

Without a fluoride limit on the Pure Wafer wastewater discharge, neither the capital nor operating costs for treatment equipment can be determined; however, it is certain that these costs will increase dramatically, by millions of dollars.

Following discussion of the case in executive session today, on behalf of its citizens and wastewater system rate-payers, the City Council directed the City Attorney to file a notice of appeal of the April 18, 2014, permanent injunction, while expressing a willingness to discuss a settlement with Pure Wafer before the appeal is heard by the Ninth District federal court.

[firth] 25/4/2014 09:26

Well done Roadster 750. What I find odd is there is no mention of this good news under the heading 'company news'!!!!!!!

[hutch_pod] 24/4/2014 10:10

Ah thanks roadster, was just about to post the same as it popped up in my Alerts last night. Didn't even know this was ongoing, but happy it was resolved positively.

[hutch_pod] 08/4/2014 17:36

BOJ decision may help allay some of the currency fears.

[hutch_pod] 01/4/2014 16:06

Excellent writeup and I wish I had seen it before i bought in.. However, I now feel even more fully appraised of the risks and am happy to wait a while to see performance.

[el1te] 30/3/2014 20:43

Interesting company. Currency risk is there, but overstated given the lowly rating. Best of luck - I hope it rallies.

Pure Wafer - A Polished Performance

New write-up on Pure Wafer available below. Feel free to sign up to free email updates via the right hand sidebar and leave comments on the article

ht

Good Luck with your investments

El1te

[puffintickler] 20/3/2014 12:22

The market does not seem to like the management reorganisation.

This is quite normal, when a company is doing well any change to the directors adds a downside risk with little upside potential.

However, because no directors are leaving completely the ethos should be unchanged. There are a couple of promotions and the only new blood will be a new FD.

I think once the dust settles the share price will resume its upward course, probably quite quickly.

[roadster750] 20/3/2014 07:43

PURE WAFER PLC
("Pure Wafer" or "the Company")

Board changes
Strategic board re-organisation to maximise growth opportunities and drive shareholder value

Pure Wafer plc, the provider of high quality silicon wafer reclaim services for many of the world's leading semiconductor manufacturers, today announces a strategic re-organisation of its board of directors.
Strategic Board Re-Organisation
Following a transformational and highly successful 18 month period in which Pure Wafer has consolidated its position as one of the world's leading wafer reclaim companies, restructured its balance sheet, moved back into pre-tax profit and very recently announced the proposed payment of a maiden final dividend to shareholders, the board of Pure Wafer is confident that the business has strong foundations and a platform on which to take the Company forward.

The board also recognises the need to put in place a successful strategic plan, in order to maximise the opportunities now available to it for the next phase of the Company's growth. Following a comprehensive review, including discussions with key shareholders, the board announces the following changes which have been driven by the board's determination to move the business forward in a planned and structured manner:
Pure has always struck me as a bit of a plodder, maybe they are about to break into a brisk walk.

[hedgehog 100] 15/3/2014 16:34

"INVESTORS CHRONICLE", 14 March 2014.

"AIM: Pure Wafer is cash rich

Pure Wafer (PUR), a provider of silicon-wafer reclamation services, assured investors that its debt turnaround was complete by pledging a final dividend for the full year to 2014. Chief Executive Peter Harrington said the maiden dividend would "mark the completion" of the group's recovery; just two years ago it was saddled with $15m (£9m) of debt.
It finished calendar 2013 with net cash following an equity placing in 2012 and a one-for-10 share consolidation last November. And while it was the acquisition of its Arizona manufacturing facility in 2007 that plunged the group into debt - just at the wrong time - its clean balance sheet will now fund the site's expansion. The manufacturing base in Swansea, Wales, will also benefit from additional production equipment.
Apart from the dividend, Mr Harrington said productivity levels were the top priority for the coming year. Recent forecasts for the semiconductor industry predict growing demand into 2018, and Pure Wafer's capacity expansion has been planned in direct response to investment in silicon chip manufacturing by the company's customers. Mr Harrington deems further equity raisings "unlikely" now that Pure Wafer looks capable of maintaining annual cash flow in the region of $6m.
Broker WH Ireland expects pre-tax profits of $3.9m for 2014, giving EPS of 14.7c, up from 14.4c in 2013.

Pure Wafer's focus will now have to shift from balance sheet overhaul to the top line; sales last year were hit by the UK government's decision to reduce feed-in tariffs for home solar panels. Nevertheless, the shares look cheap on an earnings multiple of just 10. HR

Buy

Ord price: 85p Market value: £24m
Touch: 83-87p 12-Month High: 105p Low: 41p
Dividend Yield: na PE Ratio: 19
Net Asset Value: 126c Net Cash: $1.3m

Half-year Turnover Pre-Tax Earnings per Dividend
to 31 Dec ($m) profit ($m) share (c) pre share (p)
2012 18.5 1.4 9.2 nil
2013 18.2 2.1 7.6 nil
% change -2 +46 -17

Last IC view: Buy, 82.5p, 3 Oct 2013 £1=$1.66"

[camerongd53] 11/3/2014 20:11

Some have noted the comments re the yen exchange rate. This was highlighted in a RNS as a possible future risk. I noted in a recent newspaper article (I think it was in one of the weekend Telegraphs 2/3 weeks ago) that Japanese companies are going to use the increased margin not to decrease prices and gain market share but to increase profits and surprisingly to increase wages to get their economy moving. As the PW board have not mentioned the yen issue, they must be happy it is not going to have as severe an impact as initially feared, possibly for the reasons I have stated.

I would be hopeful that the company will at least repeat the interim results for the second half - they should be able to exceed them as the 2nd half has less downtime for holidays.

This company is on Simon Thompson's buy list (Investors Chronicle) and hopefully he will give a favourable update in the next week or so which will give the share price a boost

[adamb1978] 11/3/2014 10:18

Results look very good - solid balance sheet, growing earnings, extremely good cash generation and all this without meaingful impact of the increased capacity....and that capacity is 40% of the 300mm wafers business, which is about 70% of turnover.

These results underpin the 8.9p EPS forecast for the year and should mean that EPS grows to at least 10p for the year to Jun-15. Only thing holding back the share price will be the history of the company/industry, however even taking that into account a PE of 12x next year should easily be justified.

Interesting that there was no mention in the results of teh Japan/pricing issue flagged before - you could say that the marginally decreased turnover reflected this though I guess

[woodcutter] 11/3/2014 09:23

despite my earlier post on valuation i've sold out this morning, spread is killing the stock and very little opportunity to deal inside it too.

WC

[paleje] 11/3/2014 08:45

Brownie69

No I wasn't suggesting either was untrue, just that the January RNS read like a caution re currency movements causing pricing pressures and thereby profits and/or revenue...and it caused a substantial share price drop. Now, only a few weeks later, not a mention of it. Has the USD/Yen situation changed, I don't think so.

Perhaps increased production will reduce cost sufficiently to level the playing field.

[woodcutter] 11/3/2014 08:02

Without knowing the detailed manufacturing process for new wafers i'd guess the biggest potential risk to this industry is a major improvement in the waste produced in the manufacture of new wafers. I'd expect at some point the producers to be looking seriously at improving that 2 million ref roadsters post 2186.

I'd build a reasonable stake but for the spread. As usual the spread this morning is ridiculous

WC

[brownie69] 11/3/2014 07:51

Decent enough results

Profits up.
Cash positive replacing debt.
Increased capacity on schedule to be on stream by year end
Dividends due to resume at full results
Business repurposed away from solar
P/E less than 8!!

Lots to like IMO.

I'd expect a tick up to 90p+ over next couple of weeks on back of this.
Good solid hold IMO.

[woodcutter] 11/3/2014 07:48

pretty good set of interims and looks very undervalued so i'd expect some move forward on the share price today.

outlook looks postive too.

woody

[brownie69] 11/3/2014 07:44

Decent results.
Improved profits and cash flow. Dividends to commence at end year. and further capacity on stream by year end.
lots to like.

Paleje, I don't see why both statements cant be true. ie two reasons why group revenue pressurised.

[roadster750] 11/3/2014 07:43

Pure never got to grips with the pv market, better they stick to what they know. good news on the divi.