Note: Where MoneyAM chart shows 0.00p, it means 1.00p(!)

Ticking along nicely. Volumes today nowhere near as huge as Mon/Tue, but noticeably greater than previous daily average.

This one now getting noticed, up 1 in the last month. An excellent stock to put away in the ISA for substantially higher gains in my opinion.

I suspect the marine side of things is also growing rapidly, think lifeboats, ropes, equipment, regular repeat business etc etc. This along with all other security clothing, fire prevention. I see this as a nice steady multi-bagger.

I agree greyhound...

Cosalt is looking like a company with a great future ahead of it. Fairly recently it has been transforming itself into the marine support services and safety sector. Anyone not familiar with this support work needs only look at the 5 year graphs of James Fisher (FSJ) which has been a multi-bagger.

Cosalt has recently acquired GTC Holdings which I think is really going to change the company into a revenue generating cash machine. The acquisition will be earnings enhancing and something like 70% of the profit could well be coming from this division.

It was tipped a buy back in September by Hardman & Co:

http://www.hardmanandco.com/Research/Cosalt_Sept2007.pdf

This week it has been tipped again by new recent joint broker KSFCM.

The stock is fully listed and therefore nicely protected and I've got this one nicely tucked away as a medium/long term hold. I hope to have a nice multi-bagger here in what is becoming a hot area to operate in.

As always do your own research but I think we could be in for earnings upgrades.

Working in the Marine industry & use some of there Kit, I dont think they will be to short of work !! one to watch !

What went wrong..are they going bust in 2010.

SELL.

I bought some!


I hope for a recovery.

But more likely I will myself have been in and out of recovery a few times before this one recovers.

I bought at about 9p. (Scattered small amounts of cash among a few "bombed" out companies, which couldn't drop further in price. Dumb.)


Should have waited a bit longer.

But based on hope and time scale of 2-3years.

A bit old but!!!!

Date: Thursday 18 Mar 2010

LONDON (ShareCast) - Safety equipment and protective clothing provider Cosalt reported a dip in interim revenue amid challenging conditions but said it has seen some evidence of improvement in the market.

The group, which provides equipment for the Offshore Oil & Gas and Marine industries, said revenue in the four months to the end of February was 30m, down slightly from 31m in the corresponding period.

Chief executive Mark Lejman said, "We continue to manage both costs and working capital carefully as we prepare for the seasonal uplift in trading which occurs in the summer months."

He added, "Having taken steps to reduce costs in response to the market environment, and with recent signs of some improvement in trading conditions, the board's expectations for the full year remain unchanged."

Why is this going down.

Worth 2p and thats all.

Sell.. sell..sell..

Follwing CNT and Jarvis.

everyone should prick up their ears when mitzy posts, because it's usually a load of ......

this is MM only stock and offered in lots of 10k - i.e. +/-400 - and volumes are pretty minimal

I said sell at 9p have you got a problem with that.

i have a problem with many of your inane utterances, not least this last one on 6th when sp was only a little higher

it gives me considerable worry, and i have posted as much, that you do not care whether sp goes up or down - i.e. you play tiddlywinks ...... de facto, it allows you to make stupid prognostications without any risk of pain ..... occasionally you manage to call correctly, which you then think gives you bragging rights - a chimpanzee could do as well - conveniently ignoring the crap of when you have called totally wrongly

Relax old chum.

fortunately i do most of the time, but i shall no doubt continue to remind others of the inanity of your forecasts and that you never ever back same in meaningful way

now tell us all - truth if at all possible - of how many of these you are short at 9p and how many extra you added on 6th when you told everyone to "sell ... sell ... sell"

I cant be bovvered like your wife cant.

that pretty much says it all .... beginning to have sympathy with RDG and his view of you ..... as with several here, the truth and you are not well acquainted

You have never bought me a drink...or anyone at the golf club.

wonder how i spend all that levy then!?

Another small cap disaster.

Too risky @3p.

Cosalt inventory check reveals 4m shortfall
StockMarketWire.com
Oil and gas services group Cosalt says an inventory check has revealed evidence of a shortfall in company-owned stock and work-in-progress of up to 4m.

Further detailed investigation to establish the extent of the shortfall is under way.

The company says it has identified a series of doubtful transactions involving a supply company. Evidence suggests these account for a substantial proportion of the shortfall.

The transactions could give rise to claims against those involved with the supplies in question.

Cosalt has instructed KPMG as forensic accountants to complete the compilation of the evidence and Scottish solicitors Dundas & Wilson to advise on the recovery of any losses.

The company says that to avoid prejudicing its legal remedies and any future action, it is unable to comment further on such claims save to say that it will be taking all steps to maximise recovery.

Notwithstanding the shortfall, the company said it has sufficient stock to ensure there will be no interruption to services provided by the Offshore division.

The shortfall was not expected to have any further impact on the company's net borrowings.

Go long..!

On the rise with volume for the last couple days
A very good sign for a change of TREND

strong Level 2 of 5 v 1 @ 4 / 4.25p

Somethings happening, someones heard news?????????

this is such a twiddly company that some pretty small buying (or selling) can move the price disproportionately ..... i wouldn't be a buyer

Its that time of year - a lot of similar sized companies are being walked up and then down again.

IS HAVING A PAUSE JUST NOW

but the posible sale of the marine business for between 25 and 35m, is a good omen for the company low market cap, though there is debt on the balance sheet

which is perhaps why they are being forced to sell assets

Up..!

Good news today so the trend on the charting is changing for the better >>>>>>>>

Cosalt Offshore wins 3m deals with Acergy

Cosalt Offshore has won two one-year contracts with Acergy to provide all lifting services it requires in the UK and Norwegian sectors of the North Sea.

The contracts are worth up to a total of 3m at present and there is scope for a further increase in the workload over the coming months.

The deals involve Cosalt Offshore providing a total management service in addition to product supply to fulfill all of Acergy's subsea lifting equipment requirements.

up 10% this am.

Long may it continue. 8-)

A complete disaster.

genuinely sorry for you all (with one notable exception to whom all good things must surely come to pass in time), but why on earth any of you should have money in this flea-ridden dog is beyond belief .... the writing has been on the wall for ages, and if the share is not suspended tomorrow, then for goodness sake bite the bullet

Dont turn your nose up well you can if you need to it you wont be the first or last.

?

Not much value going forward.

Down 10% today.

Is it the end or will they suevive in 2011.

Sub 2p now not looking good.

..maybe worth a go @1p..?

Games up I guess.

That's a scary one mitzy! Looking like junk stock & administration on the horizon?

Is it? This is a gamble now but I've just topped up at 0.7p to bring my average down to 1.7p. Haven't got a clue which way it's going but the only way I can win is to gamble on a bounce back. Good money after bad? We'll soon find out.

This has fallen so quickly. Hanover selling their 6% earlier in the week, they must have known this was coming. Is that insider trading or just the benfit of being a large shareholder with your finger on the pulse? In any case they knew before we did.

The question is what is the true value of what we have left? The trading statement doesn't hold up - on the one hand they're saying the delayed sale is the cause of the half year results being off, on the other they're saying that they'll have to look at ongoing funding requirements and operations.

Is it a deliberate ploy so that new money can come in at a bargain basement price, or so they can take it private at a rock bottom price? At this moment we'd probably all jump at 2p per share, I know I would. That would have been unnacceptable a week ago, and only 6 weeks after the full year results painted a rosier future.

Big boys playing games, I'm joining in rather than backing out.

It looks like ir will be taken private Harry with nada for shareholders.

On 1st September, David Ross, Chairman, commented:

"The sale of the Marine division has enabled us to stabilise the business, reduce borrowings and re-focus the business on providing services to offshore industries. Trading has been challenging but the disposal of the Marine division will enable us to make a fresh start. To that end, we have today announced the appointment of a new senior management team, who come with extensive financial and commercial experience and I look forward to working together with them to grow the business."

The Marine business was sold for 31M and was supposed to reduce borrowings to 7M in September, presumably that figure is now incorrect but what is it? At a price of 0.75p what's left of the company is now valued at 3M. It would be useful to see the company trading figures exclusive of the marine division. What do we expect of turnover, 10M?

.

Games over for the shareholders.

.

Shareholders have been duped.

A sad end for all connections.

.

.

.

Nope! You need to turn out the lights and shut the door as you leave, mn!

.

You need to go to the LSE chat board for all the action on this share.

http://www.lse.co.uk/ShareChat.asp?ShareTicker=CSLT

By no means dead and buried

.

pandjenergy article by Ross Davidson, 14th Feb

"The chief executive of Cosalt said yesterday he wanted the company to return to private hands, but added he was confident in the future of the firm even if it remained listed.

Shareholders in the engineering business will vote on proposals to take it off the Stock Exchange later this month, but Trevor Sands said the company was more focused on preparing for the busy months ahead.

Mr Sands said he was certain the company would have collapsed before Christmas without the support of chairman David Ross, whose takeover offer was made unconditional last month.

Mr Ross controls just over 56% of Cosalt’s shares and needs 75% of shareholder support at a meeting in Grimsby, where Cosalt is based, on Monday, February 27.

Mr Sands said Cosalt and its employees, including 250 at the Aberdeen-based offshore division, felt the business had already turned a corner regardless of the outcome of this month’s vote. He said: “In our minds the change has happened, the future of the company was secured when the offer closed.

“The whole point of the general meeting is that Cosalt runs up a lot of costs as a public company – around £500,000 per year – and we honestly do not get a lot of benefit out of that.

“The reason for being public was to have access to funds, but at the moment those funds are only coming from the majority shareholder.

“As chief executive of a publicly listed company with no access to funds I am focusing on the regulatory requirements, but I would rather be focusing on opportunities to help the group grow and prosper.”

Rod Buchan, chief executive of Cosalt’s offshore division, said morale among the company’s staff was still high despite the firm’s difficult circumstances, adding: “The uncertainty surrounding ownership and stability are now behind us and we want to focus on the business.”

Mr Sands said Cosalt had been able to hold on to employees while its future was uncertain. He added: “I am very proud that we have not lost that technical expertise as we have gone through these tough times.

“The company still has issues to deal with. It still has large debts and the pension-fund deficit has to be resolved.

“That is not going to be sorted out in a few weeks, these are long-term problems, but we are now in a position where we can worry about long-term problems.”

David Ross gave Cosalt a £5million loan to provide capital for investment and has said previously he would take on the firm's multimillion-pound debts and pension deficit if it was delisted from the Stock Exchange."