Will post more later. In summary feel a *bit* better about PRS.
RE: spotty 277
It reads well, but a little bit of research and it's not great at all. I did enjoy this bit "is pleased to provide the following update on the recent progress it has made in reshaping certain of its investments and setting them on new and exciting paths for growth." As if that was the master plan with MTR when we threw what little money we had pre LDP at Capcon. I'm actually surprised we didn't go red rather than blue.
Agree completely about the Rns. Nothing new with mxo. We need the sp to get to 4.77 just to break even....
The problem is whilst they are now off in positive directions that's not what Nick bought into, PPA was to get us into the Canadian aggregates market and Capcon the BRDY was to get us our promising deal with EER. Nicks done well in not mentioning it's only £45,000 more than what we invested. Whilst with MXO formerly ASTA we invested £300,000 and then £111,000 and our investment ("up 200% since the placing in March) is only worth £273,000 so a nice loss of about £130,000 over 24 months. I can't see too many getting excited on this RNS, especially when the figures speak for themselves.
I had calculated slightly less for MTR so my NAV calc is nearer 0.39 now. We just need a bit more good news to turn the tide, hopefully this will atleast stop it falling further.. Fingers crossed PLR come good in a couple of days, then detailed valuation follows and highlights NAV and we could se 0.30's again. Come on Bison and Andiamo, then we could really move. 1p soon...
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