OmniChart

BOX BOWOOD 29 Sep 2015

Re: Update Moving up. We must remember that the third qtr earnings exceeded that of the first half so it would be reasonable to expect that the average historic earnings for the first 3 quarters could be 0.06p. But of course we have moved on since then so earnings of 0.10p + must be on the cards for the current year as the business is growing massively.

IOF Tentative Predator 29 Sep 2015

half year results This is interesting (still needs refinancing but the numbers are looking better).$7m opening cash position (closing cash $4.8m, diff -$2.2m)+$1.8m operating cash profit (ie gp after removing non-cash items: $2.9m stated gp, +1.1m D+A, +0.2m discount unwinding, -3.1m stock increase, -0.2m cash not yet received, +0.9m cash deducted from profit but not yet paid out)-$2.6m admin-$0.7m interest paid-$0.7m capex=$4.8m closing cashOn the surface not great (numbers are worse than my last fy forecast here [link] )BUT! They're implying that the $3.1m increase in inventory will produce $2.2m or more cash profits (ie after costs) when they sell it (the industry needs chunkloads delivered, hence their insistence that they need to build inventory so that they can sell decent sized chunks).On that basis, the fy cashflow would imply+$8m operating profit-$5.2m admin costs-$1.5m interest costs-$1.4m capexwhich is nearly break-even on a fy cashflow basis.I don't believe they'll keep capex below $2m, and I doubt they'll get the full implied $4.4m from inventory this year, but even so I'm thinking now that fy cash drop will be under $1m, ie they could reasonably end the year on $6m cash, with a good prospect that next year (2016) they'll actually be cashflow break-even or even cashflow positive.If there was no debt, this would now be undervalued. With the debt, they have to refinance (there's no way they can pay $20m in 2017 on current figures). But with $6m in the bank and cashflow positive (just) that implies they're highly likely to be able to do an equity placement (worst case) - and even raising new loans would actually be possible now rather than unlikely which was my last opinion.So the big problem is, with no refinancing news less than 1.5 years from the debt due date (the report is dated end sep and there were no post 30 June balance sheet events), and share price at 18.5p as I write, I'd have to assume a heavily diluting rights issue (they need something like a 1 for 2 now but it will get worse as the sp drops), which is going to depress the share price even more than now.So, I'd say wait for the dilution, then buy. That would imply a sell now, but if you're heavily into a loss on your holding you might want to hold rather than miss out in case they get it right and manage to just refinance the loans long term with no dilution.At least it no longer looks like it'll end up getting taken over with nothing coming to the shareholders.Good luck to you holders.

CAMK LoadsaDosh2 29 Sep 2015

Re: SCamkids suspended LOL so you are so predictable OG; just a bit slow off the mark today.

TMZ divvent argie 29 Sep 2015

Re: Interims Nice to see that now people have had time to consider the interims the fall in sp is negligible especially after the recent negative turn in the wider market. The initial large drop this a.m. could have been mischief on the part of the mm's - does that ever happen - surely not.

EMED Small Holding 29 Sep 2015

Re: Mining Event "the company is expected to turn cash-positive fairly soon"

EMED Small Holding 29 Sep 2015

Mining Event [link] Capital’s second Event was buzzing with investors and company newsflow15:23 29 Sep 2015Under the Mining Capital brand, there’s been a new injection of enthusiasm and energy.Mining Capital’s second Event was buzzing with investors and company newsflowThere were plenty of the questions from the floor.It was only our second ever Mining Capital Event, but it was buzzing as if it was already a well-established affair.Which of course, it actually is, having directly superseded the old Minesite Forums of days of yore.Now though, under the Mining Capital brand, there’s been a new injection of enthusiasm and energy, and a resurgence in attendee numbers as new owners Proactive Investors bring to bear the full weight of its influence across the small company space.This new found pep fed through into the presentations, the first of which was given by seasoned analyst John Meyer of SP Angel.He referenced Glencore’s (LON:GLEN) recent spectacular fall from grace more than once in a wide ranging presentation that made reference to the supply demand position of all the major commodities in the context of quantitative easing, currency shifts and other major macro developments such as further potential developments in electric cars.That, he reckoned, would lead to an increase in copper demand long-term, which in part may be why in passing he also stated that he believes Glencore will now “bounce”.Alberto Lavandeira of EMED Mining (LON:EMED) then took the stage and gave an assured presentation about progress at the Rio Tinto copper project in Spain.This project was once mired in bureaucratic delays.Now though, following Lavandeira’s appointment at the helm, the logjams have cleared – to the point where first concentrate has already been produced and the ramp-up is underway.Considering, as Lavandeira said in his presentation, that at the beginning of the year EMED wasn’t even to pay company salaries, this is quite some transformation, and the company is expected to turn cash-positive fairly soon.After the coffee break Jeremy Martin from Horizonte Minerals (LON:HZM) took to the podium to talk about the deal his company concluded with Glencore on Monday.This deal, Martin was at pains to point out, was 12 months in the making, so those who have been quick to throw stones at Glencore for cutting desperate deals in desperate times aren’t being quite fair.Even so, Jeremy did point out that the total spend undertaken by the former owners of the property Horizonte is acquiring amounts to some US$70mln or more, so there’s no question that for Horizonte the deal is transformative.Its nickel resource base is more than doubled, and more than that, the grade that it will be able to mine in the first 10 years rises to 2%.That ought to pull the economics of the combined projects up by their bootstraps and give Horizonte a fighting chance of raising development finance when the next window opens.Finally, Roland Phelps from Galantas Gold (LON:GAL) stood up to talk about the latest exploration upside at the Omagh gold mine in Northern Ireland, relations with near-neighbour Dalradian Resources (LONALR), and the new investment from serial mining entrepreneur Ross Beaty.All the speakers fielded intelligent and searching questions from a crowd that at times numbered upwards of 100 people.Afterwards presenters and attendees alike repaired for lunch of a mild curry, a modicum of wine and plenty of networking.The sector may be down, but its participants are alive and kicking and as active as ever, attending our Mining Capital Events.

VLK rRomeo29 29 Sep 2015

Re: 42 - 44p ...next stop likely to be 38.80pAnd to all who havent botherd to sell: It remains safe to hold as long as 37.50p line is maintained.

MXP The Delboy 29 Sep 2015

RNS Tomorrow Will this be the end of the road for us investors?

CAMK Orchard Gate 29 Sep 2015

Re: SCamkids suspended "No doubt Orchard Gate will be along to puff his chest out..... "No real need. The facts speak for themselves. I said Naibu was a fraud and you made a series of laughable statements as to why I was wrong. I wasn't. I said CamKids is a fraud and of course it is.I note your comments about the IC and don't disagree but shouldn't you have known better? plenty of red flags.

ENEG hethersett62 29 Sep 2015

Trades A little flutter, active trades since 14.30

EMED alanadale 29 Sep 2015

Re: Production? Any news from this morning presentation, is there a link to see it anywhere

MTV bullbeatsbear 29 Sep 2015

the only crackpots here are those buying into this farce!

LEAF tiltonboy 29 Sep 2015

Re: BIG volume traded today Agreed

MTV bullbeatsbear 29 Sep 2015

is this officially the worst performing share on aim over the last 3 months???

MTV bullbeatsbear 29 Sep 2015

OK looks like bergan are about to ask for more please sir!