UK Stockmarket 2009 and beyond

cloud_dog

StevieJ wrote: »

Good news for Cadogan, GPS are coughing up $29.5 milllion, good to see a commodity share on the way up. Does this mean that the cash balance outranks its market cap?
http://otp.investis.com/clients/uk/cadogan-petroleum/rns/regulatory-story.aspx?cid=46&newsid=335604

As a rough estimate the full amount is equivalent to about 60% of the current market cap.

StevieJ

cloud_dog wrote: »

As a rough estimate the full amount is equivalent to about 60% of the current market cap.

In november the company reported cash and cash equivalents of $42.7 add in this $29.5 = $72.3m or around £47m. Ignoring any cash spend since Nov and with a market cap of around £36m (at 16p), I make that cash/mkt cap of 1.31, with little debt and increasingly bullish outpourings from the board (as opposed to the negative vibes previously) there won't be many explorers around with such an attractive profile, surely worth a few more pence on the share price.

MAIN FACTS:
-At Nov. 16, the Group had current cash and cash equivalents of $42.7 million.

cloud_dog

I'm just wondering how serious a exploration company it is / will be?

There were a lot of shenanigans a while ago over board appointments and the revision to its listing (which lowered the level of shareholder authorisation for certain activities).

TBH, my ideal would be if they sold their assets and returned all the cash to investors.

StevieJ

cloud_dog wrote: »

I'm just wondering how serious a exploration company it is / will be?

There were a lot of shenanigans a while ago over board appointments and the revision to its listing (which lowered the level of shareholder authorisation for certain activities).

TBH, my ideal would be if they sold their assets and returned all the cash to investors.

I am quite amazed by the transformation in rhetoric from every announcement spinning a negative yarn, to the orange future. They have a few assets to farm out and a 15% almost free play with the shale gas project, more to come here I will wager. They do seem like masters of information outflow management.

lvader

I'm close to breaking even on CAD after todays rise, there is hope yet!

Ay thoughts on the Range (RRL) suspension?

clairbear_3

sabretoothtiger...

Its not looking great at present but I prefer gold to vix. VIX relys on company integrity and whatever happened to MF global mess, etc They reneged on contracts as might vix or CBOE one day I guess

well yesterday the VIX went up..but GOLD spectacularly fell with the markets..:eek::eek::eek:

Glen_Clark

cloud_dog wrote: »

TBH, my ideal would be if they sold their assets and returned all the cash to investors.

I guess most Investment Trusts holders think the same since they trade at a discount to Net Asset Value too..
If the management were acting for the shareholders instead of themselves I guess thats what they would do.

StevieJ

Glen_Clark wrote: »

I guess most Investment Trusts holders think the same since they trade at a discount to Net Asset Value too..
If the management were acting for the shareholders instead of themselves I guess thats what they would do.

We don't know that, CAD management seem to now be removing the irons from the fire one at a time, it would not surprise if there were more positive surprises to come.

StevieJ

The market seems to have overreacted to Cadogan announcement this morning. The book value of assets was 182 million at the end of 2011 and the net market valuation around 35 million so an impairment write down is well overdue. Looks like someone got shares on the cheap again? Or have I got that completely wrong?

The Company wishes to announce that it expects to release its 2012 results by this Thursday, 26 April 2013. Further to the Interim Management Statement and the Operations Update announced on 19 November 2012 and 21 February 2013 respectively, the Company expects its result to show a significant impairment to asset book value leading to a material loss for 2012. The Company expects to finalise its audit shortly and further detail will be included in the fully audited results.

StevieJ

I couldn't resist