Yesterday's RNS, streamiining the debt structure and reducing the overall cost of debt, was very good news- I think today's move must be a belated reaction. So much for efficient markets!
Good point ericeric- all the industry talk over the past 1-2 years has been of convergence between prices of diamonds and coloured stones. Hopefully we will see this reflected in prices realised in the next emeralds auction- as we already did for rubies in June
Shares should trade higher on this- it's nowhere near enough given that the shares have traded above 400p in the past year.
Still ticking up and no relevant newsflow that I can see. Still, not complaining. It seemed very cheap to me at 220p so perhaps it's just a case of people belatedly spotting the value (as there's not much value out there at the moment IMHO).
I think TUNG has always been clear that it aims to capture the Fortune 500/top tier companies (and their suppliers) rather than go after a million tiny SMEs. It also offers tax-compliance in 46 countries and growing. Paypal and Secure Trust are probably handle payables that are much. much smaller than a typical TUNg-size invoice so I dont think this is anything to worry about.
Once the dividend is declared in September, the stock will show up as attractive on yield screens and should get onto the radar with more institutions and funds. I see it as a comparatively low risk play in the sector with a generous yield and at least some growth. In time the stock should trade up to a 4.5%-5.0% prospective yield range so upside to around 200p on that basis
RNS out: Total Carbide performing as expected, more development work in the pipeline for VersarienCu, 2-D Tech integrated. A few concerns about working capital mgt- receivables up sharply, invoice discounting required, cash down since midyear. Expect them to need another share placing in next 12m. On some modest assumptions for growth in the three businesses, see them close to breakeven in 2015, modestly profitable in 2016, then ramping up. 12m target price 32p.
RNS: Third Product in Vernalis' Cough Cold Pipeline (CCP-08) Achieves Proof-of-Concept. Expected but good to see another one going through, augurs well for the rst of the development pipeline. Getting nearer to commercialiasation when it will be possible to put a more precise valuation on the business. NB Neil Woodford owns 6.7% in his new fund.
Final results to 31 Mar out tomorrow. Focus will be on integration of 2D Tech, acquired in April, progress of Total Carbide (orders, partnerships) which contributed revenues of £1.08m at the interim stage, and trading update said performance was expected to be "boradly inline" in H2; and progress of VTL, news of contract wins etc. Stock has languished since last trading update and absence of any news of contract wins, so these results have the potential to reassure and hopefully lift stock back to recent highs. Worth a punt ahead of the results- I will set a target price after digesting them.
This stock seems to be ignored. Neil Woodford bought Invesco's entire 29% stake for his new fund back in May. Company presentation on website has a few Q3 newsflow events, and interims due in September. Should see buying interest return in next couple of months.