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VLT - Vault Intelligence

System

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Credo was incorporated on 6 July 2010 and incorporated a subsidiary company, Ora Banda Gold Pty. Ltd. to acquire mineral interests throughout Australia with an emphasis on gold projects.*To this end Ora Banda Gold has successfully acquired a number of prospective exploration projects in close proximity to Australia's premier gold city, Kalgoorlie.

The Fair Adelaide Project is prospective for both gold and nickel mineralisation and contains several targets for follow up including the Puzzle Bear nickel target and shallow gold targets.

The Bardoc North Project, the Boomerang Dam Project and the Dixie Project also have existing gold mineralisation developed at shallow depths along shear zones and hosted in structurally controlled quartz lodes. These projects all require additional drilling to progress them to the next stage of exploration but all have drill targets ready for immediate testing.

The Cawse Extended Project is earlier stage and requires systematic first pass exploration to progress it to the drilling stage.

http://www.credoresources.com.au
 

springhill

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Re: CRQ - Credo Resources

MC - $4.7m
SP - 8c
Shares - 57m
Options - 18m
Cash - 3m

Completion of Initial RC Drilling Program at Tyegana 1 and Sebila Permits in Burkina Faso
● First pass RC Drilling at Tyegana 1 Permit, Prospect A, (Peotenga Prospect) intersects significant gold mineralisation with best intercept 8m @ 11g/t from 40m● First pass RC Drilling at Sebila Permit, Prospect A, (Damesma Prospect) - intersects thick zones of gold mineralisation with best intercept 22m @ 1.95g/t from surface

Tyegana 1 – Prospect A and B

• Prospect A is two parallel structures being mined by artisans, over 1,000m strike
•Prospect B is a recent discovery with numerous artisans mining, over 500m strike
•Prospect A drilled in May, 2,000m of RC

Sebila Permit
•Nine gold targets identified from previous soil sample grids
•20kms from Bissa
•Gold targets are hosted by basalt-sediment contacts, porphyry intrusives, gabbros
•At Damesma a large area of artisanal workings over a zone 1.2kms in length, recently drilled 700m of RC
•New soil grids by Credo underway

Bourzanga Permit
•Previous soils sampling on 1km by 100m grid
•Anomaly A is 10kms long @ >20ppb Au
•Anomaly B is 7kms long
•Drilling of Prospect complete, 2,000m of RC, 600m known strike length, 3 parallel structures
•Auger drilling program underway

Pepow Permit
•Soils collected by Etruscan on 1,000m by 100m grid
•Anomalies are 3km in length
•Await recent sampling results
•Artisanal workings testify to gold
 

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System

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On June 27th, 2016, Credo Resources Limited (CRQ) changed its name and ASX code to Vault Intelligence Limited (VLT).
 

greggles

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Has anyone else looked into Vault Intelligence? They operate in the Risk, Environment, Health and Safety (EHS) sector and offer software-as-a-service solutions to organisations looking to simplify and modernise their EHS processes.

There seems to be very few players in this area and a huge potential market.

Market cap of around $13 million and they have generated $2.729 million in revenue in the last nine months. Much of this is recurring revenue. They currently have $3.5 million in the bank.

They seem to be growing very quickly and gaining some real traction. Am starting to get very interested in VLT.
 

So_Cynical

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Has anyone else looked into Vault Intelligence?

Just had a look after seeing you picked them in the June comp, looked cos i had no idea who they were or what they did and have to agree that the business has some potential, they have the runs on the board with some major clients and the Risk, Environment, Health, Safety at work thing is a growth sector, all those women uni graduates need something to do around the office..

Was surprised to see they are still burning cash even with all those clients..have added it to a speccy watchlist, i like software stocks, i did well with Aconex.
 

greggles

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Just had a look after seeing you picked them in the June comp, looked cos i had no idea who they were or what they did and have to agree that the business has some potential, they have the runs on the board with some major clients and the Risk, Environment, Health, Safety at work thing is a growth sector, all those women uni graduates need something to do around the office..
Yes, and anything that saves a business or organisation time and money will generally do well as long as it works like it's supposed to. And where there's little to no competition in a growth sector, that just means more revenue and better margins.

Was surprised to see they are still burning cash even with all those clients..have added it to a speccy watchlist, i like software stocks, i did well with Aconex.

Yes, still burning cash but they're trying to get on top of it. This is from the last quarterly:
Cash burn excluding financing rate down 49% on previous quarter. Reductions in expenses and increased cash receipts have resulted in a 49% reduction in the cash burn rate for the quarter excluding financing. Corporate and administration costs continue to reduce quarter on quarter.

Last quarter they were only $343,000 in the red. With $3.5 million in the bank that gives them quite a bit of time to build up enough recurring revenue to get cash flow positive. If the below graph from their last quarterly turns out to be accurate, it should happen soon.

screenshot-www.aspecthuntley.com.au-2018.05.30-17-28-58.png
 

galumay

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Its an interesting business, there is actually a lot of competition in the space though, a lot of it is opaque though. Bigger companies prefer to run their own bespoke EHS programs, as do Government orgs and Councils. Its also not a very sticky customer base, EHS goes thru fads and fashions and its easy for businesses to have a change in management who choose to use a new supplier for EHS templates and management systems.

Still its piqued my interest enough to keep and eye on it and see if it can grow a sustainable business. Probably an opportunity to develop the SaaS process to an integrated HR/EHS/Warehousing/production product.
 

So_Cynical

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Its also not a very sticky customer base, EHS goes thru fads and fashions and its easy for businesses to have a change in management who choose to use a new supplier for EHS templates and management systems.

My second last employer was very HR heavy, they were crazy for all this stuff and HR and people and culture all flows into safety and reporting and risk management, its a big thing now, and the big organisations can be sticky just because its so hard to change software, such a pain in the ass.

Ill have to see if i can find some videos, i want to see what it (Vault) looks like working..
 

galumay

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its a big thing now, and the big organisations can be sticky just because its so hard to change software

You may be right, it hasnt been my experience though. When I worked for big mining companies like Rio, we would actually joke about EHS systems - every 6 years we would end up back with the same system. Middle management turns over very quickly, and they all want to bring their own systems so its a revolving door of software systems to support the process on site! Its a bit of a myth that changing software systems is hard or even expensive, and as more and more is cloud based is even less so.

I certainly agree its a big addressable market, big business has become well aware that cost savings in mitigating the liability risk in EHS issues is massive, the systems that are designed to shift all responsibility to employee from employer are most popular!
 
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Hi all,

I’m always on the look out for saas/saas-like businesses as I think once you established they can be hard to dislodge if they’re run by capable management.
One question I’ve got and it relates to VLT and others is how does deferred/unearned revenue for which sits on the balance sheet as a n/c liability, usually, does that actually translate to cash in the bank?
In VLT’s case it was $0.9m as at December 2017 with about $3.5m classified as cash/cash equivalents on the balance sheet?
 

greggles

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Vault Intelligence moving north today on the highest daily volume in the last 12 months. Currently up 22.73% to 2.7c. There have been no announcements since the Quarterly Report released on 26 July.

The sell side of the market depth looks to be thinning out. Something must be up. Not sure what though. My guess is either someone is taking a position in VLT or good news is imminent.

big.chart-VLT.gif
 

greggles

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Interest in VLT has increased since my post on 17 August as can be seen by the increase in daily trading volume. Since then, the company has launched a new business product line, Vault Solo, and raised $5 million via a placement of 166.7 million shares at 3c a share.

Things seem to be progressing quite well for VLT and its share price is holding up nicely.

big.chart-VLT.gif
 

greggles

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Coming back to VLT after about 10 months to find that the company has carried out a 10 to 1 capital consolidation, reducing their shares on issue from 1,029,169,394 to 102,916,939.

Today the company confirmed the achievement of their market guidance of $6 million Contracted Annualised Recurring Revenue (CARR) as at 30 June 2019, as a result of a number of significant customer signings.

After trading in a tight channel between 15c and 20c for the past seven months, VLT looks like it might finally be making its way north again after gapping up and through 20c to be currently trading at 21.75c.

I reckon the bottom might be in here.

big.chart-VLT.gif
 
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and looks like the market agrees. up 24% so far on very large volume, very nice for holders.
 

greggles

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VLT gapping up through 35c this morning on high volume after announcing that it has secured a significant contract with ADT Security New Zealand for Vault Solo.

ADT has committed to a five year contract for Vault Solo with a total contract value of a minimum A$6.8 million and a minimum of A$1.36 million in Contracted Annual Recurring Revenue (CARR).

VLT said that they remain confident of meeting market guidance of a minimum of A$10 million CARR by end of FY20 with CARR already at A$8.3 million. A number of new contracts worth over A$14 million have been delivered in the past four months and a number of significant global opportunities are currently in the pipeline.

Things certainly looking brighter for VLT. I imagine 50c can't be far off if the good news keeps on rolling in.

big.chart-VLT.gif
 

System

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On October 20th, 2020, Vault Intelligence Limited (VLT) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between VLT and its shareholders in connection with the acquisition of all the issued capital in VLT by Damstra Holdings Limited.
 
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