Ive just come across this one in the last few days and have been very impressed by what I have seen so far. Hardly had a mention in the market world and floated middle of last year.

As a good and proven management team , looks cheap on fundies and is acquiring quality bolt ons in the fragmented market it serves.

Chart looks very sound and the company is profitable.

Fundies are...

P/E of just over 14 to end of Sept 2007 and a P/E of just over 11 and a PEG of 0.5 to end of sept 2008.

Looks very much like a new Worthington Nicholls.

Very similar to the admission document...

http://www.investegate.co.uk/Article.aspx?id=200606230700300600F

Web site.....

http://www.silverdell.co.uk/homepage.asp

Chart.



DYOR.

I know of no short position on sola.

Anyway back to this one, strange SP action today on what looks like more buys than sells.

A bit of momentum behind this one over the last few days.

The city havent caught on yet.

No tip sheets following it therefore no lemminns in yet.

Legislative driven high margin work.

A niche player in an industry and product most dont wont to touch............ NICE.

A bit of momentum behind this one over the last few days.

The city havent caught on yet.

No tip sheets following it therefore no lemmings in yet.

Legislative driven high margin work.

A niche player in an industry and product most dont wont to touch............ NICE.

The
Directors and the Proposed Directors believe that there are two main drivers for
the recent growth within the industry:


1. Legislation


Although legislation in relation to asbestos was first introduced over 20 years
ago, the principal legislation is contained within the CAWR.


In particular, Regulation 4 of CAWR introduces the concept of a 'duty to manage'
asbestos within non-domestic UK premises, creating an obligation to assess and
manage the risks from asbestos and ACMs within relevant premises. Broadly
speaking, non-domestic premises are defined as commercial and industrial
buildings as well as the common parts of public and social housing.


In practice, this necessitates the identification of asbestos and ACMs through
the conduct of surveys, the introduction of asbestos management plans and
regular audits to assess the stability of asbestos and its remediation as
appropriate e.g. prior to demolition or major refurbishment work.


In late 2005/early 2006 the HSE published a consultation document that sought
views on draft Regulations and an Approved Code of Practice to implement
amendments to the EU Asbestos Worker Protection Directive 83/477/EEC and other
changes to the existing asbestos regulatory framework. The HSE proposes to
repeal the CAWR, the Asbestos (Licensing) Regulations 1983 and the Asbestos
(Prohibitions) Regulations 1992 and to replace them with a single set of
regulations. One of the legislative changes proposed in the consultation
document is to adopt a risk-based approach to defining work with asbestos or
ACMs which will be exempt from the requirement to obtain a licence from the HSE.
The HSE believes that for most work with asbestos this will maintain the status
quo; however, the HSE is proposing to consult further on whether work with
asbestos-containing textured coatings should be removed from the licensing
regime altogether. If that were to happen, licensed contractors such as
Silverdell could be exposed to competition from unlicensed contractors for such
work.


2. Litigation


As the incidences of asbestosis (scarring of the lung) and mesothelioma (cancer
of the lung lining) have gradually risen so have the number of asbestos-related
claims. Asbestos accounts for over 3,500 deaths each year and is the UK's
biggest single cause of work-related deaths. In 2005, the insurance industry
paid out 205 million in asbestos-related claims and the actuarial profession
has warned that the cost of asbestos claims in the UK could reach 20 billion in
the next 30 years.


The Directors and proposed Directors believe that rising claim volumes are
likely to encourage employers in particular to manage asbestos appropriately.
The current mortality rate from asbestos-related diseases is expected to rise
until around 2011-2015. There is also an appeal before the House of Lords in
respect of a number of cases in which the claimants are seeking damages for
pleural plaques (benign scarring of the lung tissue caused by exposure to
asbestos fibres). The Court of Appeal ruled that pleural plaques do not
constitute an injury and therefore do not attract compensation. If the House of
Lords reverses the Court of Appeal's decision and rules that compensation should
be paid for pleural plaques this may increase employers' concerns to manage
their asbestos risks appropriately.

Could be a smal tick up coming.

A few stats for the fundies followers here...

At todays market SP of 128.5p

Forecast P/E of 12.9

Price to Revenue Ratio of 1.5

Price to Book Ratio of 2.1

Net Operating Margins of 16.8%

Buyers coming in this lunch time, no sells to date.

Are we rich yet, gf? ;-0

Certainly not on this one, but Ive got patience bundles of it.

Im sure in the end value will out.

Indeed. No panic. ;-)

Glad you made a contribution, Big Al, I thought this thread was becoming a tad monologic

Oh no! We need to be careful if hushpuppy is into these, gf. Just joking, John. Howzit?

SID look well set BTW. Stuck 'em in the SIPP for a few years hopefully

Nice to have a bit of banter on this thread LOL.

Still muddying around Al, currently in my second year on Nexen's Scott Platform. Its okay apart from the excessive stair climbing. You must be getting old, isn't a SIP a tad long term for you. Seriously though I nearly got into these after I sold out WNG just after the start of the year. Got into them on day one so profits were pretty healthy. Split money into Tanfield at 58p and GKN at 278p instead so I can't really complain. However these are still on the radar and now that I've found out that gf isn't in effect the only investor who knows?

Oh Al, are you still pointing bits of metal at distant targets (and sometimes getting there :-) )

John - gave up the pointing bit a couple of years back. If in doubt become a Drill Rep on dayrate. You know it makes sense ;-)) Hence SIPP move. ;-0

Anyway, you made a few good moves there. Better than BPRG, TRK and TDM (if I remember!)

Anyway lads, patience please.

If you are not confident then please sell your stock.

The fact is I beleieve when others get caUGHT ON that this will bomb.

OK at the moment its rather quiet, and if stock momentum pickers know what they are doing.............................. THEY WILL BUY.

Don't panic, gf. I'm going nowhere. ;-))

Great to see, I think I had one to many tinnies last night celebrating a pals birthday.

AAAAAAAAAAAAAAAAAAAAAAAgh, my head.

Looks like one big institution as taken a profit.

No doubt we will get an RNS.

Great to see, I think I had one to many tinnies last night celebrating a pals birthday.

AAAAAAAAAAAAAAAAAAAAAAAgh, my head.

Looks like one big institution as taken a profit.

No doubt we will get an RNS.

Ticked up this afternoon.