Codan Ltd (CDA)

Discussion in 'Stocks & Derivatives' started by finicky, Aug 7, 2012.

  1. SilverSanchez

    SilverSanchez Active Member

    Joined:
    Jan 17, 2011
    Messages:
    2,679
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Melbourne
    you really dont have a fun time with life do you finiky. Like how psycho do you have to be to actively make enemies on the silverstackers forum. Like do you go round picking fights everywhere you go? Being critical of people, belittling them, just the a coldness you have and how relentless, its really ... nutz.
     
  2. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Down 12% today to $1.30 with higher volume but no news

    somebody must know something - expect a speeding ticket
     
  3. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Yes, do sellers know something or is it just momentum following? Wish I wasn't overweight as seems so cheap. It's unbelievable that the 1.50 level didn't put up a second fight. The share price of Codan spent ~6 years consolidating under 1.50, now it collapses through like rock through wet kleenex. What the hell's going on? This stock used to be like winning Boystown lottery, now today I've entered loss territory. I'm hoping for that speed ticket.

    [​IMG]
     
  4. SilverSanchez

    SilverSanchez Active Member

    Joined:
    Jan 17, 2011
    Messages:
    2,679
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Melbourne

    maybe they read my post ;)
     
  5. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    You wouldn't confirm your post. As such, and borrowed from your 'mentor', your call was nothing.
     
  6. SilverSanchez

    SilverSanchez Active Member

    Joined:
    Jan 17, 2011
    Messages:
    2,679
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Melbourne

    Hehehe that was my chart, and my 'call' wasnt a call - it was a hunch. So i'm not taking credit.. im just having some well earned fun with you. I dont know if you have noticed but Codan has a correlation with the aussie gold miners index (XGD).
     
  7. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    10 December 2013
    By Email: [email protected]

    Ms Shannon Hong
    Adviser, Listings Compliance
    ASX Compliance Pty Limited
    20 Bridge Street
    SYDNEY NSW 2000

    Dear Shannon

    Request for Trading Halt

    This letter is request a trading halt in the securities of Codan Limited ("the company"). This request is
    made on the following basis:

    The reason for the trading halt is that lower than forecast sales of gold detector products into our three
    main African markets in the month of November
    may have an impact on the profit guidance for the first
    half ending 31 December 2013.

    The Board and management are currently working to complete the November month end results and
    complete a review of the first half profit guidance.

    As you are aware the company has been issued with a price query letter dated 9 December 2013 and a
    trading halt will ensure that the company has the necessary time to complete its review of the first half
    profit guidance and to issue a release on this matter to the ASX.
     
  8. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Well since insiders got a chance to sell out now let's have a trading halt.

    Gotta love continuous disclosure huh ?
     
  9. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Low of 63c since open on unprecedented daily volume with 1 hr of trading
    I got up late

    $4m to $5m NPAT guidance H1

    Take lower figure

    If assume dismal performance repeated H2

    Then $8m spread across 177m shares

    eps = 4.5c

    Assume things will not radically improve in future years but not get worse ...

    Apply P/E of 8

    8 x 4.5 = 36c per share

    The market's being generous! Paying a premium for growth prospects from this level of profit?
     
  10. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    I'm in at 73c

    Prepared to hold long term but if it gets back to near $1 will get out for a quick profit

    If it gets down to your 36c valuation Finicky will double up.
     
  11. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Yes I was giving a pessimistic case as a reality check.
     
  12. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Out at 92c

    Hey it's not a bitcoin type of return but 25% in 24 hours is nothing to be sneezed at
     
  13. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Thanks for coming and your contribution to capital formation in the share market, lol
     
  14. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Management claims ignorance before Wed 11th, despite sellers obviously knowing something on Monday 9th.

    :rolleyes:

    Market seems happy enough with the response - share price is up a bit


    Sometimes you gotta laugh at the concept of a fully imformed market
     
  15. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    19 February 2014


    CODAN LIMITED HALF-YEAR RESULTS
    PERIOD ENDED 31 DECEMBER 2013

    Summary

    Reported profit of $4.8 million. down 82% on H1 FY13

    Earnings per share of 2.7 cents.

    Interim dividend declared of 1.5 cents.

    The trading environment for gold detection products into our three main
    African markets was depressed for the last nine months of calendar year
    2013.
    The cost base of the organisation has been restructured and reduced by
    around $10 million per annum.
    The current expense base now supports a baseline business of circa $150
    million revenue, with upside potential from future gold rushes.
    The release of our new Envoy software-defined radio and a strong pipeline of
    new products, coupled with on-the-ground market development, has the
    business well placed to deliver future profit growth.
    We continue to see long-term growth opportunities in each of our three
    business units.
     
  16. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,810
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Taking a real clobbering today as yesterday's bad news gets out to the little shareholders.

    I was not impressed by the disclosure that they are stuck with high stock levels and debt has increased.


    Put in a lowball @ 61c - let's see if it gets down that low :p
     
  17. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,543
    Likes Received:
    77
    Trophy Points:
    48
    Location:
    Dreamworld
    Chart gives strong impression of having already based and then put in shallow higher lows and higher highs. Note the volatility field narrowed, then expanded, with the price lingering nowadays in the top half of the band.

    Disclosure: still holding all ours
    Sentiment: at least a hold

    Excerpts from H1 Report

    "Margins improved across all our businesses."

    Codan Radio Communications

    A leading designer and manufacturer of premium
    communications equipment for High Frequency (HF) and Land Mobile Radio (LMR)
    applications.

    Segment contribution doubled to $10.9 million on sales of $36.6 million, which was
    up 55% on the prior year. ...

    ... "The future growth of our Radio Communications business will be based on our
    ability to combine HF and LMR platforms to provide unique and resilient radio
    networks that connect over multiple communications platforms and make us more
    attractive in larger infrastructure projects."

    Metal Detection

    Minelab sales in the first half were $27.1 million, down $5.8 million on the prior
    corresponding period. ...

    ... We are addressing these issues by:
    releasing the revolutionary new GPZ 7000 gold detector which detects gold at
    greater depth and across all ground types including very highly mineralised
    soil,
    establishing a Minelab retail and distribution centre in Dubai to support the
    efforts of our dealers, and
    continuing to aggressively defend our intellectual property against
    counterfeiters.

    Mining Technology

    Minetec's sales in the first half were $2.5 million, unchanged from the prior
    corresponding period. ...

    ... During the half year, Minetec successfully completed a pilot project for a large global
    miner which demonstrated the mine simulation and productivity technology in a
    working mine environment. Other successful proof-of-concept trials have been
    conducted and management continue to pursue full-scale mine rollouts which we
    anticipate will occur within the next 18 months. ...

    ... Enabling mining companies to
    transition from conventional labour-intensive mining practices to more efficient
    mechanised mining is a key element of our value proposition....

    ... Over the longer term, management is of the firm view that Minetec will become the
    third major arm of Codan.

    2 year weekly
    [​IMG]
     

Share This Page