Small Cap Value Report (Tue 5 April 2022) - ECK, BKS, IGP, TPFG, MOON, QXT

5th Apr '22 by Paul Scott

97 comments 8687 reads

Good morning, it's Paul & Jack here with the SCVR for Tuesday.

I (Paul) have a crazy day today, as I realised my passport did not have sufficient (time) range to cover a forthcoming trip to Malta next week. So I had to fast track my renewal application, which involves driving from Bournemouth to Newport (South Wales) and back this afternoon!

Electric Cars

Using an electric car means carefully checking that it will have the range necessary, which it does thankfully for my trip today. I've already discovered that public chargers cannot be relied upon, because they're often out of service, or already being used, with someone else waiting to use it next. You also have to sit in the car whilst it charges, to ensure nobody else presses stop on the charging machine, and then puts the other plug in their own car (unlikely, but possible). Disputes are common.

For these reasons, a recent weekend trip to visit family in Cheshire (240 miles each way, easily done on one charge with 13% remaining) was blighted by me having to spend 4 hours at a service station, to re-charge the car for the return journey! It wasn't too bad, as the sun was shining, and the family brought some picnic chairs, and we sat on the grass verge by a Co-Op petrol station, having some Greggs and a natter! But it wasn't quite what I had planned for a family weekend.

My conclusion being that electric cars are fine for people who mainly do shortish journeys, starting and ending at home, but for people who routinely need to travel 250+ miles in a day, forget it! The charging infrastructure is woefully inadequate to make that a viable option at the moment. For two car families, having one electric, and one petrol car could make a lot of sense.

The driving experience of the car itself (a Porsche Taycan) is just stunning. Prodigiously quick, and it handles like a go-kart, yet as easy to drive as a Golf. There's instant, bucketloads of torque available at any speed, making overtaking hilariously easy, and fun. I miss the lovely sound of a powerful engine though, but the near-silence of each journey (apart from a bit of tyre rumble), and the ease of driving, means that you don't feel at all tired, even after a long drive. This is definitely the future,…

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Rusty2

5th Apr '22

What I meant is we have to import 9% of our electric from abroad.

Not everyone, they are too expensive for many people. I'm considering getting one in about 5 years time if used prices have fallen to around £12,000, I need a range of over 200 miles and by then we should see how batteries are lasting and what the reolacement costs will be.

TheFloatingInvestor

I am with you Michael...a very frustrating share...I am on my second go at it when it stop lost out last time, Three strikes and your out for me...lets see but am 5% down already! Results out soon I think.

I would say if they stopped issuing shares and got on with working with what they have, that might help.

Quilleron

Yes, I've been watching Intercede (LON:IGP) for a while waiting for an opportunity to get in and first thing provided what I hope was an ideal opportunity. Markdowns for missed targets are severe at the moment but by all accounts, the sales were deferred rather than lost.

My view with this share is that those who use its services don't take that decision lightly and will be locked in for years to come and security of this kind is becoming increasingly necessary. Company quite possibly to be take out by a far larger player at some point. IMHO.

John Gibson

£BKS

Would anyone be able to share a link to the Beeks webinar that Paul referenced in his report?
I’d very much appreciate it.
Thank you all!

timarr

Yes, I've been watching Intercede (LON:IGP) for a while waiting for an opportunity to get in and first thing provided what I hope was an ideal opportunity

The problem with Intercede used to be that its technology was only really suitable for use with US Federal Agencies - which is a great moat as far as it goes, but they were on the wrong side of it. And they're deploying through integrators like Lockeed Martin who are taking the lion's share of the revenue.

Whether that's changed or not I don't know but given the way that the wider market for identity management systems has taken off - the likes of Okta (market cap of £19 billion) or Assa Abloy (£23 billion) for instance - you'd have to think the opportunity has passed them by. How on Earth can tiny Intercede compete with the investment those companies can make? Frankly most cyber-criminal groups probably have a bigger turnover than IGP.

The price is back where it was twenty years ago and there's been dilution in the meantime.

If they can start to bring in significant business from anything other than US Federal Agencies then it would be interesting. But otherwise it's hard to see where the growth will come from.

timarr

Wimbledonsprinter

Go on investormeetcompany.com and look for Beeks. You might have to register but it is free.

GrahamF

Thanks Timarr, that’s very useful

Thank you very much!

AnonymousUser894098

I have a company lease EV car - a Citroen EC4. Lovely car to sit inside but absolutely dreadful range. It barely can manage 3/4 of the range it states whilst in Eco mode with no appliances turned on. I think the only EVs worth buying are Teslas.

Rolls Royce small modular nuclear reactors. These are nothing like Sizewell C style plants. They're modular constructed in factories and shipped to site.

davidallen77

yes but we export it to when windy like today tomorrow and this then lowers the gas price.

ISAallowance

Exactly! Everyone talks about EVs from a CO2 standpoint, but the real undisputable win is in reduction of local pollutants (NOx, CO, particulates), particularly in urban areas which just happen to be where the majority of us breath.

But not very often and over the last year we imported 9% of our electric. We are still importing today.

Yes if and when they happen, will certainly be one one solution.

gmtrader

Do people realise you don’t have to fork out for a Tesla to join a cult.

MichaelFBS

6th Apr '22

It was tongue in cheek Rustbucket, like you I hope my existing car last’s five years + and by then the technology will have moved on (and hopefully the production of batteries).

Regards

Michael

The Phoenix

Hi Tim can't remember if I thanked you or not for your input into a question I asked on another thread if I didn't I appreciated you taking the time to reply and good to see you back posting on Stocko.

I see, not sure my current car will be with me in 5 years time as it’s getting on, I was thinking changing it last year but used car prices were crazy. I don’t do many miles so buying an EV now would not make much sense. Cars are the biggest waste of money.

judywil

16th Apr '22

There's a reason the Tesla share price is where it is. They are way ahead on technology and I don't know why people don't understand that it's NOT EASY. Tesla sorted the charging problem 10 years ago. It takes us 20-30 minutes to get half our battery charged, an hour for the full thing (on a Tesla Supercharger, but a public Chademo is pretty fast too). We bought our Tesla 8 years ago, the more recent cars are faster. There is still nothing wrong with our 8 year old car. We've never serviced it (it doesn't need it). We've replaced tyres and one or two other things. The battery has hardly degraded at all.

However, the biggest mistake we made was buying the car and not putting the money we spent on the car into Tesla shares!

Small Cap Value Report (Tue 5 April 2022) - ECK, BKS, IGP, TPFG, MOON, QXT

Electric Cars

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Paul Scott

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