Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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escrow their shares and allow full investigative forensic analysis of their management accounts, why should we accept anything...even anything audited... at face vale..whether here or at any AIMster??? Pretty much every share on AIM is now a weak sell imv ...auditors need to explain what they do...in the case of the chineses horrors and now gbo, their work doesn't seem to an amateur/non auditor like me to go nearly far enough to protect the legitimate interests and concerns of shareholders.. ...we cannot individually go through the books..dd the business...check that revenues are legit ....we rely on them... ..and then the selling of shares by directors (disclosed only after the problems emerged) at gbo makes the case unambiguously for treating directors less trustingly...imv their shares should not be freely available to sell, but held in escrow...they shd be allowed to sell at times but only in v tightly governed and disclosed ways...not relying on their honesty
lol
Back in July I highlighted the missing $3 million and received some grief for my troubles. To quote - The company put out an announcement post year end stating "The Company's balance sheet remains strong with over $9m of liquid cash at 31 December 2014". This was on February 10th 2015. They issued their audited results to 31 December 2014 two months later, no mention of why the cash position is $3m lower than originally stated in the trading statement. Looking through the interim results, the value of the short term investments and cash position are both down despite the company making nearly $800k operating profits. Hidden in the cash-flow breakdown is a $2 million reduction in the operating assets and liabilities during the period. Short term investments and cash reduced but did not make up the full amount, instead trade receivables are up and will contribute to the next half results. Recurring revenues an important sign for growth are falling as are gross profits. The only reason why operating profits were marginally up was due to reduced spend in R&D and marketing - two important parts of the business for fueling business. Are holders optimistic this will reverse and soon trend up?
think so
is the seller active again?
dummy buy indicates near full ask req..the buying by ii(s) has been Jolly impressive
eventually reacting to the buying jolly? Hope so. gl.
some decent 100..300k trades in last few days with prices creeping up ...fingers crossed
of late. As long as they maintain the dividend and don't draw down too much on their cash unwisely, they could be going places. I'll sit and wait.
welcome
up
with goodness, I hope ...the big players are trading positions, and there seems no interest from dumb money like us ...feeling a little more confident that a surge is close
being req on dummy buys...but no buying lol
Bought these after the trading update early 2014 and was real frustrated and sold when despite a good story, the price didn't seem to react. Decided to try my luck here again after these results, hoping they've fallen enough and due a change of luck.
looking tad more promising
in 50/100k chunks @18p...would be nice to see that price go up ...at least the effective sell price has crept up
is gambling not investment... ...perhaps limit buying to times when there is significant margin of safety (which req plenty of patience & a good deal of frustration if the sp doesn't reach yr buying zone)?
Thanks for the info Jolly. You summed we up well. I feel like I've been on a losing streak - looking to make up losses by more trading. Which feels like gambling not investing. I remain, your avid fan! AP
@17.97p ...glutton for punishment
makes EV/EBIT metric a little less potent (just look at GBO lol) ....cash and eq dropped by c £1m in the 1H (which is unnerving to say the least). But they say cash will be paid in 2H...Let's see ...Being pretty conservative free cash/eq may be c £4-5m now (knocking a few million US$ off 30th June 2015 position...but so difficult to say given explosion in WC req over 1H) ...run rate EBIT is c£1m, giving EV/EBIT of c4-5...which is clearly cheap...v cheap ...don't rely on my figures, DYOR & gl!!
quite right...what is yr take? ...the explosion in trade receivables and poor fcf struck me as odd ...plus the revenue recognition policy
Nice to see you here. Wise words as always. ATB. TP
worth reading the value investing cannon, incl Joel Greenblatt's now classic book and thinking through the Magic Formula...I like Richard B (of iii)'s Share Sleuth blog more...Slater's classic of the ?70s is probably worth reading (I haven't!)...and then there must be plenty written by (and critiques of) the masters: Warren B and Ben Graham ...Perhaps decide (i) allocation to shares (probably a small % of net worth imv) and then (ii) what mix of value investing and momentum trading works for you...clearly sensible to invest/trade after trend reversal (to the positive if long of course).. ...remember: no one knows that much and market is pretty much always daft ...so don't get rattled and enjoy it...I don't think that comes out in the books enough...... ...if it is hard, it isn't working for you...take a break (I have had a few spells off over the past few years and returned refreshed and relaxed)... ...this is a great game, and you are much more likely to lose if you are not in the zone imv..like a sportsperson fully relaxed and in the groove, confident of their preparation and approach ..gl
I meant it! Lost plenty following ST / IC magazine. Would make a fortune following you! Any good books you can recommend?! Your analysis is uncanny and your patience rewarded!! Thanks again. AP