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  • 09 Sep 19

Reabold Resources - Corporate Update

reabold-resources-corporate-update-09-09-2019
  • 09 Sep 19

GMP FirstEnergy ― UK Energy morning research package

Touchstone Exploration (TXP LN/CN)1 ; BUY, £0.25 : Very good results at the first Ortoire well in Trinidad | ExxonMobil (XOM US) (not covered): Selling Norway? | Hurricane Energy (HUR LN) (not covered): Well update in the UK | Independent Oil & Gas (IOG LN)1 ; BUY, £0.55: EUR100 mm bond issue | Reabold Resources (RBD LN) (not covered): Well results in Romania | Petro Matad (MATD LN) (not covered): Drilling results in Mongolia

Companies: TXP XOM HUR IOG RBD MATD

  • 09 Sep 19

GMP FirstEnergy ― UK Energy morning research package

Touchstone Exploration (TXP LN/CN)1 ; BUY, £0.25 : Very good results at the first Ortoire well in Trinidad | ExxonMobil (XOM US) (not covered): Selling Norway? | Hurricane Energy (HUR LN) (not covered): Well update in the UK | Independent Oil & Gas (IOG LN)1 ; BUY, £0.55: EUR100 mm bond issue | Reabold Resources (RBD LN) (not covered): Well results in Romania | Petro Matad (MATD LN) (not covered): Drilling results in Mongolia

Companies: TXP XOM HUR IOG RBD MATD

  • 09 Sep 19

SP Angel – Oil & Gas View

Mosman Oil & Gas* (MSMN): Stanley-3 Initial Production Flow Rates | Touchstone Exploration (TXP): Touchstone Announces Positive Coho-1 Exploration Well Results | Reabold Resources (RBD): Successful Appraisal Well at Parta Licence, Romania | Hurricane Energy (HUR) - 'Lincoln Crestal' 205/26b-14 Well Update

Companies: MSMN TXP RBD HUR

  • 09 Sep 19

Small Cap Feast

AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019

Companies: ONC PEN RBD UOG SAE SIM MATD CER MSMN MPL

  • 29 Aug 19

Positive drilling at West Newton

The update on the West Newton is notable in detailing a potentially material oil discovery, as well as the long-mooted gas discovery. In particular, the operator (Rathlin Energy) has now confirmed that the West Newton project contains an estimated gross 151 feet oil column located below a gross 66 feet gas column within the Kirkham Abbey formation. Deloitte will now be commissioned to prepare a CPR to assess volumetrics at West Newton and to undertake an economic evaluation applicable to a material oil development with an associated gas cap. This exciting news will inevitably result in changes to the development programme for the asset.

Companies: Reabold Resources
  • 27 Aug 19

SP Angel – Morning View

Jadestone Energy (JSE): Q2 & Half Yearly Results | Eco Atlantic (ECO): Well Spud | Reabold Resources (RBD): Romanian Discovery | Providence Resources (PVR)/Lansdowne Oil & Gas* (LOGP): Payment Delayed | Ascent Resources* (AST): Corporate Update

Companies: JSE RBD PVR AST ECO

  • 22 Aug 19

Small Cap Feast

Brickability - The br icks supplier , w hich a lso ha s a hea ting a nd plumbing business a s w ell a s a roofing division, expects to join the junior market at the end of this month with a market cap of circa £150m

Companies: SYM TEK TMT TLOU ALS SPDI RBD FOG SIM CLNR

  • 22 Aug 19

SP Angel – Morning View

Premier Oil (PMO): H1 Results | Rockhopper (RKH): Operational Update | 88 Energy (88E): Conventional Farmout | SDX Energy (SDX): H1 Results | Reabold Resources (RBD): Increased Investment | i3 Energy (I3E): Liberator Well Spud | Cluff Natural Resources (CLNR): Completion of Seismic

Companies: PMO RKH 88E SDX RBD I3E CLNR

  • 13 Aug 19

SP Angel – Morning View

Union Jack Oil* (UJO)/Reabold Resources (RBD): West Newton Update | Mosman Oil & Gas* (MSMN): Stanley-3 Update | Cluff Natural Resources (CLNR): Completion of Farmout | Lansdowne Oil & Gas* (LOGP)/Providence Resources (PVR): Barryroe Funding Delays

Companies: RBD MSMN CLNR LOGP

  • 08 Aug 19

Reabold Resources - Romania Update

reabold-resources-romania-update-08-08-2019
  • 07 Aug 19

SP Angel – Oil & Gas View

Union Jack Oil* (UJO): West Newton Update | Rockhopper Exploration (RKH): Egypt Update | International Oil & Gas (IOG): Harvey Well Spud | UK Oil & Gas (UKOG): Increased Horse Hill Interest | Europe Oil & Gas (EOG): Irish Licence Interest | Oilex (OEX): Australian Licence | Reabold Resources (RBD): Romania Well Spud

Companies: UJO RKH IOG UKOG EOG OEX RBD

  • 31 Jul 19

SP Angel – Oil & Gas View

Soco International (SIA): Trading Update | JKX Oil & Gas (JKX): Half Yearly Results | Igas Energy (IGAS): Trading Update | Mosman Oil & Gas (MSMN): Production Update | 88 Energy (88E): Quarterly Update | Reabold Resources (RBD): Corallian Energy Update

Companies: SIA JKX IGAS MSMN 88E RBD

  • 29 Jul 19

SP Angel – Oil & Gas View

Amerisur Resources (AMER): Operational Update | Lansdowne Oil & Gas* (LOGP)/Providence Resources (PVR): Funding Update | Ascent Resources (AST): Management Changes & Corporate Review | Egdon Resources (EDR)/Union Jack Oil (UJO): Wressle Planning Update | Victoria Oil & Gas (VOG): Term Sheet | Echo Energy (ECHO): Operational Update | Reabold Resources (RBD): Operational Update

Companies: AMER LOGP AST EDR VOG ECHO RBD

  • 17 Jul 19

Small Cap Feast

Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.

Companies: AOR MIRA CYAN ITX HOTC BRK RBD WINK MXCT AAOG

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Reabold Resources. We currently have 65 research reports from 4 professional analysts.

Open
1.23p
Range Today
1.21/1.24p
52 Week
0.53/1.40p
Daily Volume
7.2m
# Shares
4,047m
Daily Liquidity
(0.18%)
Pension Liability
£0m
Enterprise Value
£34.9m
Market Cap
£49.3m
Latest PE (hist)
Div Yield

Latest News/RNS

(more news)
Date Source Announcement
16Sep19 08:56 RNS Increased Investment into Danube Petroleum
09Sep19 07:00 RNS Successful Appraisal Well at Parta Licence Romania
29Aug19 07:00 RNS Operational Update at West Newton, onshore UK
27Aug19 11:15 RNS Capital Reduction Update
27Aug19 07:00 RNS Romania Operational Update
22Aug19 07:00 RNS Increased Investment in Rathlin Energy
12Aug19 10:04 RNS Operational Update at West Newton, onshore UK
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  • 17 Sep 19

Strong progress, 24.2% growth in revenue

Kape Technologies has reported first half revenue a touch ahead of the guidance given in July’s trading update with Adjusted EBITDA in line with the suggested $5.8 million. The results show strong progress in growing SaaS revenues with the number of subscription users increasing by 24% to over 1 million and the retention rate improving again to a very healthy level. The first half also saw further investment in customer acquisition paying off with ZenMate and Intego – now both fully integrated into the Group - benefitting. New product launches and high-profile successes by Intego’s macOS security analyst team helped augment Kape’s market positioning. We note that this business model continues to enhance Kape’s ongoing revenue visibility and that Kape is growing market share. We make no change to our numbers as the Board expresses confidence in meeting stretching market growth estimates.

Companies: Kape Technologies
  • 17 Sep 19

Data Privacy driving strong top-line growth

Kape have delivered a strong set of H1’19 results as flagged in the July trading update. Revenues increased by 24% y/y, driving adjusted EBITDA up +21%. Cash flow from operations was broadly flat (+$0.2m) as the Group continues to invest in customer acquisition. Operational KPI’s are particularly strong; 147k net subscriptions were added in the core Data Privacy segment, whilst retention rates were an impressive 82% (H2’18: 74%). The Group’s transition to a complete SaaS model continues, with subscription revenue now accounting for 72% of total sales and recurring revenue up >300% to $21.2m. We are encouraged by strong operational performance which serves to increase our conviction in FY’19E forecasts. The current share price looks compelling, with our SOTP intrinsic valuation at 117p/share.

Companies: Kape Technologies
  • 17 Sep 19

H1’19: Inline; a period of consolidation

Kape reported a bland if not confident update this morning, with figures broadly as per its trading statement on 30 July. The group has undergone a period of strategic consolidation in our view. While user count has clearly stagnated HoH at c.1.1m, retention improving to 82% has improved visibility on future revenue streams. Extrapolating this trend implies a 27% boost to the company’s future expectations to US$38m from recurring existing subscriptions. The group’s cash position was reported at US$36.4m. The shares have fallen 19% YTD and trade on 1.2x FY19E EV/sales. We reiterate our Buy rating on Kape as a strong proposition of balance sheet strength and robust organic growth, with the risks to H2 performance increasingly looking priced, in our view.

Companies: Kape Technologies
  • 17 Sep 19

Transformation on track

NAHL’s H1 results show that its strategic transformation in the personal injury market from a marketing business to a full legal services provider is on track and yielding positive results. Since inception, the Legal Services business has won 4,910 cases with £19m of damages, and now has 12,097 cases ongoing. We make no changes to our forecasts and reiterate our view that as the return from the new model drives increasing free cash flow, we see significant share price upside, with downside risk protected by the value of the growing Critical Care business.

Companies: NAHL Group
  • 02 Jul 19

Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC FDL GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 12 Sep 19

Adding Property Developers

OnTheMarket, the agent-backed company which operates the OnTheMarket.com property portal, is pleased to announce that it has signed a portal listing and additional advertising products agreement with Barratt Developments PLC, Britain's largest housebuilder.

Companies: OnTheMarket
  • 23 Jul 19

Quarterly Research Outlook - Summer 2019

In January, we provided a list of 11 stocks for 2019 that we believed would perform strongly with attractive catalysts that could lead to material outperformance. In this Quarterly Research Outlook, we revisit these views, analysing what has happened and how the remaining six months of the year could play out.

Companies: AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CALL CSRT TIDE CYAN DTG DEMG ELM EMR FPO FST GTLY GENL GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR HYR IBPO IOG INDI JHD JOG KAPE KEYS KCT KGH LAM LIT LOK MACF MANO PCA PANR PXC PHC PMO RBW RMM REDD RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG SOM TWD TRAK TSG TRI VNET VTC ZOO ZTF

  • 27 Aug 19

Foreign buyers gorging on UK stocks

Like whales feasting on Krill, overseas firms are today stuffing themselves silly with choice fillets of corporate Britain. Why? Well look no further than geopolitical tensions and Brexit, which have disproportionately impacted UK equities and the £. Indeed the FTSE100 has lagged the S&P500 by a hefty 19% over the past 2 years, with Sterling dropping to 34 year lows vs US$ (see below). That said to us, based purely on fundamentals, this period of underperformance appears over-cooked, leaving many quality British companies vulnerable to predatory interest.

Companies: VOD AV/ AGK CHG CNA ITV BRBY SMIN CTEC SXS OXIG MGAM IMI WEIR WMH KMK EYE GATC ULS INS ALFA RDT TSTL ELCO MBH BLTG IHC 9537 CSRT NBI

  • 18 Sep 19

Cenkos: Cello Group Plc - Growth accelerating over the year

Cello has delivered excellent interim results with group Net Revenue (NR) of £55m (+7%) and adj EBIT of £5.7m (+13%). Underpinning this positive delivery is an acceleration in organic growth in Cello Health, particularly in the US. This should accelerate further in H2/19E given recent ISS's addition. Today's other significant update splits out Pulsar's results from Cello Signal, which has masked an improving margin in the latter.

Companies: Cello Health
  • 30 Jul 19

Strong trading reflects drive and investment

Kape Technologies has enjoyed another strong half year of trading driven by growth in sales of its suite of digital privacy products. The update for the six months ended 30 June 2019 states that revenue is expected to be around $29.6 million for the first half with Adjusted EBITDA of around $5.8 million. EBITDA growth is running ahead of that of revenue and it is also ahead of our full year expected growth rate as the Group continues to benefit from its customer acquisition strategy and new product initiatives. The update notes Kape’s continuing commitment to investment in its people and products. Recent notable successes of Intego in exposing two Mac security threats have brought enhanced appreciation of the Group’s brand and capabilities. Kape recently updated the market on this and on ZenMate’s new products. We note the strong H1 performance and respective growth rates for revenue and EBITDA in relation to our exacting full year expectations. Assuming higher EBITDA margins, we leave Adjusted EBITDA estimates unchanged while reducing revenues by 7% and 6% for FY 2019E and FY 2020E respectively.

Companies: Kape Technologies
  • 05 Sep 19

LIBERUM: 4imprint Group* - Strong returns on marketing continue

Interim results were ahead of our estimate, with 16% organic revenue growth. Revenue per marketing dollar remained constant yoy at $5.12 despite an $11m increase in marketing costs to $79.2m.

Companies: 4Imprint Group
  • 21 Aug 19

Supporting clients through FDA approval

Cello has acquired Innovative Science Solutions LLP (ISS) for an initial $6.4m in cash (maximum $10.5m). ISS is a scientific consulting firm specialising in strategic counsel and regulatory support for the healthcare industry in the US. It adds a new and key component to Cello’s offering of technical services along critical drug development pathways. The addition of ISS is in line with the group’s strategy of growing its technical services offering in the US healthcare market and we have upgraded our FY 2019E EPS by 2% and FY 2020E by 7%, after allowing for investment in headcount to support growth. We continue to expect the group to have net cash at December 2019E, meaning further enhancing additions could be financed from existing resources if opportunities can be found. We have raised our target price to 160p from 145p, valuing Cello at a 30% discount to peers on a P/E basis.

Companies: Cello Health
  • 09 Sep 19

Allenby Capital TMT Update 09.09.19 (BIRD.L, MIRA.L, BOOM.L)

Blackbird plc* (BIRD.L, 11p/£32.5m) | Mirada plc* (MIRA.L, 1.4p/£12.5m) | Audioboom plc* (BOOM.L, 210p/£29.4m)

Companies: BIRD MIRA BOOM

  • 30 Jun 16

AIMing for income

So what is the profile of a typical AIM quoted company? The market’s detractors may argue that London’s junior market is peppered with cash consuming companies that are not sufficiently advanced in their route to profitability nor corporate governance regimes to justify their listing. Supporters of the London Stock Exchange’s growth market would say that the Alternative Investment Market is the world’s most successful market for growing companies rewarding investors prepared to brave the risks of earlier stage funding, and driving innovation and job creation. Neither view suggests that AIM would be a fertile hunting ground for income generating stocks. However a glance at the FTSE AIM All Share constituents (Source: Fidessa) suggests that over 250 of its members or circa a quarter of the market’s members pay dividends.

Companies: BVXP BOTB ITQ SHOE CGS DX/ HSP JIL IBEX PRP CAML GTC JIM CCAP ENTU FXI NAH ASY HGM PEN PEG AVG NXR

  • 21 Jun 16

The return of the goodwill IPO: How to value a brand?

I wake up in my DFS (DFS) bed with a Gin and Fevertree (FEVR) hangover, place a trade on my phone through CMC Markets (CMCX), have a quick go on my Hornby (HRN) train set, eat half a box of Hotel Chocolat (HOTC), all before heading out in my brand spanking new Joules (JOUL) wellies to my local Metro Bank (MTRO) branch. All of these well-known consumer brands share a common theme in that they are all listed or quoted on the London Stock Exchange. It’s been a year so far reminiscent of 2014 when we saw a flurry of large brands rush for the IPO door such as Pets at Home (PETS), Saga (SAGA), AA (AA) and Poundland (PLND). Most looking for a private equity exit. The IPO adventure of these companies tends to be fairly boiler plate: the valuation is a battleground between the exiting private equity house and incoming institutional investors, the book is many times covered and the scale backs are eye watering. But what makes these companies more alluring to investors than a company nobody has ever heard of which in fact may be profitable, dividend paying and ultimately, on a lower valuation?

Companies: CMCX CSP CYBG WJG ACRL ASCL