finnCap Research Company Notes - 12 June 2019
Jun 12, 2019 / News
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Sector: Mining
Avesoro Resources (ASO) : Corp
Youga operations update
Key data
- Share price (p) 31.5
- Target price (p) U/R
- Market cap (£m) 25.7
- Enterprise value (£m) 122.7
Avesoro Resources has reported an update from its Youga gold mine in Burkina Faso. Further to Monday’s announcement about various operating problems, it has now reported that negotiations continue between its former mining workforce and the new mining contractor. These negotiations have not been finalised and so the mine has now suspended remaining processing operations. Our price target remains under review.
Martin Potts mpotts@finncap.com
Sector: Financial & Insurance
Morses Club (MCL) : Corp
Appointment of new CFO
Key data
- Share price (p) 155.0
- Target price (p) 190.0
- Market cap (£m) 201.7
- Enterprise value (£m) 207.5
Morses Club has this morning announced the appointment of a new CFO to take over from Andy Thomson. Andrew Hayward will take up the role of CFO from 1 July: Andrew comes with CFO experience from a listed financials company as he joins Morses Club from eServGlobal, the ASX and AIM-listed digital financial transactions technology company where he has been CFO for more than two and a half years. The current CFO, Andy Thomson, will step down as CFO but remain as NED with Morses Club.
Kim Bergoe kbergoe@finncap.com
Sector: Technology & Telecoms
PCI Pal (PCIP) : Corp
Continuing global rollout through channels
Key data
- Share price (p) 26.0
- Target price (p) 50.0
- Market cap (£m) 11.1
- Enterprise value (£m) 7.6
We are very encouraged that PCI Pal has signed this global extension to its UK-focused reseller contract with a leading CCaaS and UCaaS vendor, 8x8 Inc. The secure payments solution provider to contact centres immediately benefits with an initial contract in the US from a market-leading travel-sector brand. Further strengthening North American channels, PCIP is also deepening an existing relationship with a leading telecoms supplier in Canada – which becomes a fully integrated reseller, meaning that its solutions will connect seamlessly with PCIP’s new AWS platform. PCIP’s cloud-based approach is facilitating the global rollout, leveraged by strong channel partnerships to accelerate sales growth and underpinning our current forecasts and target price.
Lorne Daniel ldaniel@finncap.com