Pure Gold Mining Share Discussion Threads

[interceptor2] 14/10/2015 09:10

Looks like it could be cameo4, as you say it is reassuring that a major buyer see value at today's price.

hxxp://www.azini.com/about-us/our-people/

Last year the Arizona business was 44% of group revenue, it will be interesting to see the breakdown in tomorrow's results and try to work a value for Arizona as a stand alone business.

[cameo4] 14/10/2015 00:44

following todays RNS and following something mentioned on another board, ( 50glass on LSE). could it be that the Michael Andrew Bennet is the same Michael Bennet, co founder and partner of Azini Partners. if so, he can see some value at todays price.

[sailing john] 13/10/2015 09:20

Results
140-145p surplus capital return
Presumably a well capitalised US business "and with the facility currently running at record levels of productivity and high utilisation"
I think the market will be happy!

The key issue for the current valuation is the timetable for return of cash and options (if any) re income or capital return - market currently reflecting opportunity cost of cash tied up.

[interceptor2] 13/10/2015 08:53

Someone is keen to buy before the results announcement.

[dangersimpson2] 06/10/2015 09:09

yeah that's my thoughts as well - there must be lot's to finalise and it makes sense to have it all in one announcement.

[puffintickler] 06/10/2015 08:50

Bit of a delay before the results are out (15th October).

I imagine it is because they intend to release details of the cash return at the same time and there are still a couple of ducks to get in a row, let's hope so.

[dangersimpson2] 05/10/2015 16:48

I'm hoping they will seperate out continuing & discontinued operations since it will make valuing the remaining business much easier if we can see what the remaining plant can do w/o all the exceptional payments and costs associated with the welsh ops.

An update on payment timetable would also be very useful since they must have closed out most of the key details by now.

[riddlerone] 05/10/2015 09:45

Last year it was on the Tuesday of the week they advised so maybe tomorrow

[alan@bj] 05/10/2015 09:35

From 12th August RNS:-
The Board of Pure Wafer plc ("Pure Wafer" or "the Company"), one of the leading global providers of high quality silicon wafer reclaim services to many of the world's largest semiconductor manufacturers and foundries as an integral part of their cost control programmes, is pleased to provide the following update in advance of the announcement of the Company's preliminary results for the year ended 30 June 2015, which are expected to be released during the week commencing 5 October 2015.

[puffintickler] 17/9/2015 09:11

I hope so, I don't like having so much value tied up in one place even if it is 80% cash.

[alan@bj] 17/9/2015 07:25

Three weeks to preliminary results. Wonder if we'll be told what date the payout will be, and exactly how much?

[interceptor2] 25/8/2015 09:51

PUR, looking like a safe port in a storm imo. 140p to 145p cash to be returned to shareholders and a business still operating in the USA, sounds rather attractive at this time.

Others seem of the same opinion looking at the share price

[alan@bj] 24/8/2015 19:14

Good move.

[badtime] 24/8/2015 18:09

Decided to buy back in today at 156 which I thought was a nice price

[coolen] 15/8/2015 16:55

At the very least, they are fully entitled to distribute all of their retained earnings, which stood at $28m in their last accounts.

Assuming these earnings have been subject to UK corporation tax (and I'm a bit concerned about all the "$" signs in the accounts), then any dividend distribution should carry the usual 10% notional tax credit and thus be tax-free to standard rate taxpayers.

Has anyone a copy of the last dividend voucher which might confirm their UK tax status ?

[riddlerone] 15/8/2015 12:53

I think the balance sheet will also be a lot better than 2014.They have already paid over 2m in warrant redemption plus you would imagine they would have a very lean operation,cash in the bank and still with over $12m in fixed assets

[ganthorpe] 15/8/2015 12:27

I used to be an analyst before I retired to concentrate on investing ( for whatever that's worth - suggestions not welcome!).
Having had a good look at the available info on the Texas business I reckoned at only 5 times operating profits after amortisation , the value was about 34P.
Texas had about 42% of the group sales and production capacity in 2014 and was more profitable. As has been pointed out , a strategic trade buyer would likely pay more than 5 times profits.
Definitely worth hanging on to October 5th , keeping Texas on as the sole activity doesn't make a lot of sense to me.

[puffintickler] 13/8/2015 18:23

In fact if you strip out the cash element of the share price then at 160p only 20p (or even 15p) is a stake in the rump of the business. This stake is assumed by most here to be worth more than double that so in a way we are expecting a short-term 100%+ return on the capital at risk.

[alan@bj] 13/8/2015 12:58

Perhaps a little premature MRT, but a profit's a profit and should never be knocked. This is Simon Thompson's latest view:-
"So with the forthcoming cash return accounting for at least 140p, and possibly 145p of Pure Wafer’s current share price, I feel that it’s not time yet to bank profits with the shares priced on a bid-offer spread of 160p to 162p. Offering scope for a further 10 per cent upside and perhaps far more if a strategic buyer emerges for the U.S. business, I would run profits ahead of the full-year results on 5 October."

[mrthomas] 13/8/2015 12:23

Sold out but well done to management was a good return for a short term hold thanks to IC have made some good buys due to them.As some have said could be a take over soon so may buy in latter see

[bad robot] 12/8/2015 20:24

Bloody hell you guys kept this one off Radar.

Enjoy your winnings boys. Well done

[janeann] 12/8/2015 20:09

Thanks dangersimpson; that was what I hoped and expected.

[puffintickler] 12/8/2015 19:11

Yes, 1.60 will be high enough for those who were in near the bottom of 40p. There is still some risk but for me it is more a risk that the rest of the gain will not be as great as we hope it will be. I still think we have 10-25% uplift to go.

[stegrego] 12/8/2015 19:00

Just plenty of people happy to take 160. Stock market is far from efficient, especially in small caps, so it might take weeks or months to get much higher, depending on what news comes.