News & Tips: Polo Resources, Monitise, Cupid, Hunting, Quindell Portfolio & more

July 2, 2013 by  
Filed under Solar Energy Tips

Equities leapt out of the blocks in early trading as the second half of the year began on a positive note despite disappointing manufacturing data from China. But The Trader Dominic Picarda thinks the bears have not yet finished and we could see further downside before too long.


Simon Thompson recommendation Polo Resources (POL) has announced a significant increase in resources at its subsidiary Nimini Holdings’ Komahun gold project in Sierra Leone in an early assessment of an independent mineral resource estimate. The full report is due to be published within 6 weeks. Buy.

Fellow Simon Thompson recommendationPV Crystalox Solar (PVCS) has offloaded its polysilicon manufacturing operation in Bitterfeld, Germany, to a management buy-in team. There is no consideration for the asset and PV Crystalox will pay €12.3m towards liabilities totalling €18.4m.

James Fisher (FSJ) has won a marine management system contract with Total for a rig offshore Congo. Buy.

Mobile payments specialist Monitise (MONI) has signed a five year contract with Telefonica to develop and manage new and existing mobile payment services. Alongside a similar recent agreement with Visa, the built in minimum payments from these contracts underpin revenue expectations for 2013. Buy.

South American oil explorer Global Energy Development (GED), which was recommended by Simon Thompson in May, reports that production from its Llanos Basin has outperformed last year but lower oil prices will partially offset this.


Online dating specialist Cupid (CUP) has completed an internal enquiry into the practices within its various business units which was triggered by allegations of dubious business practices. The review concluded that instances of employees posing as members of the website through fake profiles to encourage subscriptions did not occur. But changes are being made including the replacement of the Motivation Team with Dating Advisors who will be clearly identified and offer live help to users.

Hunting (HTG) says trading in the first half of the year was in line with expectations despite a flat global rig count over the period with a ramp up in Gulf of Mexico and North American shale investment contributing.

Fellow oil services and engineering business Petrofac (PFC) has signed a memorandum of understanding with KazMunaiGas Exploration of Kazakhstan to jointly explore improvements to production at the mature Emba producing field.


Quindell Portfolio (QPP) has announced a further acquisition, of accident rehabilitation and medical reporting specialist React and Recover, which further boosts its healthcare business. Meanwhile some recent acquisitions have performed so well that early settlement of warranty obligations is being considered, which would allow integration to be accelerated. Meanwhile, management has reiterated its intention to slow down acquisitions and drive organic growth.

Russian anthracite miner Sibanthracite has indicated a wide possible price range for its initial public offering of Global Depository Receipts in London of $7-$9.50 each which values the business at $630m-$855m.

Plus500, which owns an international CFD trading platform which allows retail customers to trade CFDs in 50 countries, has announced its intention to float on Aim this morning, with a view to raising $50m.


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