Cheers Mike. I hear you on the management as I spoke with them a while back too and no joy. I was down quiet a bit but decided to cut it. Hopefully all your other investments go well too. I got into IOG and did a bit better there. All the best mate and see you soon.
Sorry to see you go Hawk but fully understand and agree with your sentiment. I have been asking the Management team the very same questions that you raise but it has got to a point where they are no longer replying to my mails. I am so far down on this one that I made the decision a while ago to stick with it even though they have squandered so much money and opportunity. Wish you all the best in your future investments and am sure we will bump into each other again on the share chat boards.- Mike
I gave up on this stock now. Management could not realise shareholder value when the chinese market was at all time highs over the last year....now they have even less chance and the portfolio will get revised downwards. For that, I sold my stock and wish all those here good luck and Hope I am wrong for other shareholders sake. Cheers
Well lets hope that this set of results concludes the consistent bad news ! We are down to a NAV of around 10p now and the Management team are consistently blaming the poor environment and downturn in mining etc...etc. but if you take a look at the report it reflects consistent bad results/news in other investments also which must show some dubious decision making at some point along the line. The only positive for me is the possible asset value in the Mandel project but will that ever improve on its current low valuation ? They have included a somewhat positive outlook statement which I have attached below :-
The outlook for the sectors in which the portfolio companies are active remains unclear, although there have been a number of positive developments after the end of the year. We remain convinced that our Chinese investments are well positioned to benefit from long-term trends in the Chinese economy and society. In Mongolia, the conclusion of the deal to fund the underground mine at Oyu Tolgoi removes a significant negative factor, and could provide the basis for a longer-term re-rating of the country's mining sector. We continue to review opportunities for divestments in line with Origo's revised Investing Policy, however, we will only propose opportunities to the Independent Directors which we believe will deliver appropriate value to investors.
Hmm, June 12th should prove interesting . I wonder how much the " Substantial reduction" in the NAV will be ? but then again how long is a bit of string ! One good thing is that the share price seems to have bottomed otherwise we would surely have seen some downward movement after the wording in this notice.
Yes I did mention Rio and the long term highs in the Chinese markets etc. but no reaction. Origo's holding "Kincora copper" is in the same world class Oyu Tolgoi copper belt of Mongolia as the Rio deal which should prove to be advantageous, lets hope someone is interested in Gobi and Molyworld? All the best Cadbury and will post if I hear anything else.
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