Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on DEINOVE. We currently have 6 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
03 Oct 16
While the H116 financial results were in line with expectations, the decision to suspend the Deinol programme was not. Short-term projections will not be affected by the change in strategy as resources will simply be reallocated, but potential for longer-term revenue generation will switch from biofuels to green chemistry and healthcare.
Commercial revenues expected 2018
10 Jun 16
Management believes that Deinove now has the necessary financial resources to continue with its work until the end of FY17 without recourse to further equity funding. Deinove will continue to progress towards commercialising its technology in both the Deinochem and Deinol projects, with first commercial revenues expected by 2018. Based on the assumption that it can successfully deploy its technology, we believe Deinove could be worth c €8/share (previously €10).
Finance secure until end 2017
30 Mar 16
Deinove made significant scientific and technical advances in 2015, signed important commercial agreements and improved the financial positioning of the company. The first commercial revenues are expected in 2018 and the company believes it has sufficient financial resources, without further equity drawdowns (€10m unused facility), to last it until the end of 2017.
Broadening the offering
12 Jan 16
Deinove has secured additional financial resources that will allow it to continue the development of its technology in the field of green chemistry and biofuels. The majority of the funds raised will be used to finance developments in Deinochem (green chemistry), which we now expect will contribute an increased proportion of future revenues.
Funding the road to commercial deployment
08 Dec 15
Deinove’s proposed capital raising (€9.3m) should allow the company to continue to develop its technology to the point when commercial revenues are expected to begin (2017/18). The intended distribution of the proceeds among Deinove’s businesses highlights the increased importance of the Deinochem offering within Deinove’s portfolio. It also highlights the greater number of potential revenue-generating projects beyond biofuels to which Deinove can now point.
Milestone payments demonstrate progress
25 Sep 15
Deinove continues to make progress, passing research project milestones, signing agreements with commercial partners and diversifying future potential revenue streams by broadening its research platform. The company has yet to generate commercial revenue (we expect from FY17), but believes it has sufficient cash resources to last “beyond Q316”.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Sound Energy is an AIM-listed upstream gas company
27 Feb 17
Sound Energy is an AIM-listed upstream gas company with a balanced exploration and appraisal portfolio focussed on three strategic assets in onshore Morocco and Italy. The share price has trebled in the past year, following drilling success in the Tendrara licence of eastern Morocco. The work program of the next 12-18 months has the potential to de-risk additional gas resources in Morocco and Italy, providing short-term catalysts for further upside in the share price. However, any disappointing drilling results might leave the stock rather exposed given recent momentum and lack of certified reserves, although we recognise that the optionality in the portfolio would remain substantial.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.