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CAML has sold off more than most coppers. Seems too extreme.
Thanks RightOn and JTS for the comments and it’s refreshing that this CAML board is populated by sane long term holders and so far free from hysterical rampers/derampers. Ive also been repositioning my SIPP portfolio over the last 2 years to a more defensive position and currently have 50% in cash or gold. CAML is my worst performing stock but I’ll sit and wait in hope of a slow but sustained recovery. Resumption of dividends would be a welcome bonus, but I don’t expect we will see this for a while.
https://www.mining.com/metals-markets-to-move-into-surplus-report/
All the best @RightOn
Hi JTS13, I know exactly what you mean. I have invested over the years in Hambledon, Max Petroleum, Oxus Gold, plus others, and seen them disappear into oblivion, although Hambledon is hanging on with large losses as Altyn. On the other hand, I bought Kaz Minerals (as Kazakhmys) at 65p, before selling at £6.50. I also made it large with Petrokazakhstan. I have most of my portfolio in funds, as I believe I am not clever enough to succeed in shares. I enjoy my dabble in shares, and take and accept risks. If something like PXC rises ten times, which it may well do, I would have to lose total value on ten other shares to lose that, assuming I invest equally, and even I have not managed that yet. I look out for small companies, which I judge to be well managed, and where I believe that there are no justified reasons to be unloved, and PXC fits that bill very well. I really have a big hunch for them, as they appear to know their stuff, and are doing a good job now of informing the punters. The last RNS's have been spectacular, and appear to have been missed. I had big hopes for CAML which have not materialised, but I haven't lost, so that is good. I like what you do for your daughter.
For KAZ, I make a comment that they went through a revolution, and came out better. I could not have expected that, but it does show the difference changing management style can make.
As a side comment, my portfolio is largely in the blue at the moment, being full of USA and gold funds. I had a hunch about gold about 2 years ago (Blackrock Gold has done me exceptionally well), and then cashed out the majority of the rest just before the extent of Covid came through. I put it down to luck rather than skill, but it's also experience having seen other crises.
Good luck JTS.
To be honest, I think that AIM has got quite of lot of mining companies that look great on paper. Huge resources with reasonable capex / forecasted opex costs etc etc. However, traditional life of mine cycle applies to them all and it's usually unknowing PI's who get caught out. (i.e. something like this illustration: https://asr-ltd.com/_images/mine-life-cycle.jpg). I've been caught out a few times myself. Thought I bought into an amazing play, spiked 300-400% and then 6 months later, I'm in a large paper loss. It's a crazy world!
With the volatility in todays' world, I'm not personally doing so much of those plays these days. Have adjusted portfolio completely and aiming for a simple 10-15% growth via selective plays. Boring but reliable is my preference right now.
That said, do have a couple smaller gambits in riskier investments. My closest comparison to PXC would be BCN (lithium). Ironically though, have only bought for my daughter. There's something about holding a stock and then looking at balances. So many bad decisions made just due to looking at a play too often and self doubting. Whereas holding stock for another (where they're not even going to know about it for at least a decade) means that you take no notice about weekly volatility... My daughters portfolio has nothing in the red and an average better than my own portfolio which I spend much more time in. Ironic isn't it!!
CAML has done well in the circumstances - copper price is below where it was 10 years ago. At least CAML has survived and is profitable!
I have a few PXC but is multiple times more risky as it is an explorer and will need funds - but the rewards may be greater.
If in doubt have both if you think CU price is going up (I'm still waiting for that copper shortage mentioned in the Press a year ago!).
Anyone with thoughts on ANTO ? I'm currently out of that one
Hi JTS13. I agree with your comments about CAML. I like the management. I think they’ve done a good job in difficult situations. But the last 2 years have been pretty flat. It may be that there is a gain in the coming months, but percentages rather than a multi bagger. For PXC it has a fully funded drilling programme with results due this summer. Then it goes into FS and into construction and production before end 2021. I looked in and liked it.
With an approx. billion dollars of resources, and a market cap of just over £10 million, I sense this is going to rise many times. There’s been a flow of information coming out of the company in recent weeks, but it still appears unloved and undervalued (much like CAML). Some serious posters are talking of 5-10 times before next year end. Plus it is in a safe environment (USA). It’s the classic risk vs reward. You pays your money and makes your choice….
So, no, I don’t see any pull back.
Hm, PXC has already multibagged in past - how far can one expect it to go before a pull back?
CAML on the other hand. Have been in and out since about 2013/4. It's true that it's not been loved by the wider market. Partly cause of the regions it operates in. Partly cause of challenges with LOM. Partly with challenges of just being in a crappy sector where commodity prices have been in the hands of bears for years.
However, that said, I've always been impressed by CAML mgt. and the (pre-COVID) dividends are spectacular. Unfortunately, it's been been a buy-in 1 month before divi and sell the day before type of share. If you did this the past few years you'd probably of averaged closer to 50% per annum, even with SP dropping overall during the period.
That said, I think that this is going to be a great long term play. It aligns so well with EV and other macro trends happening these days and it's pretty unanimous in terms of there being significant shortage of supply in 5+ years from now... However it's played, I think the only loser here (assuming buying today) is one who's looking at selling out within a few months time
Ironically, the board these days seems to be more varied than it has been for years. Clearly a few people watching, even if not interacting
I’m from the country so have a loyalty, so I think I’ll stay invested. It was interesting to see your comments. Thanks. If you’re interested, I point you to another copper (plus gold) company which appears to have generated some excitement, PXC. I’ve just put some money there as well and there’s talk of it being a possible multi bagger.
Spread has been pretty big here for the last couple of days.
All copper producers have taken a hit since Trump tariffs ... Nothing special about the fall here.
It's been a lousy couple of years but can't fault the management, just declining metal prices. In those 2 years debt has been reduced greatly and once metals return to a stabler pricing environment, these shares will motor. The mines remain open and I'd expect dividends to resume in October. Hang in there!
I share your pain as I also bought CAML in 2018 and with an average buy price of 230p it's been a really poor investment for me too. It looked then to be a relatively low risk, low cost, profitable copper producer with an experienced management team. And decent dividends too. I'll just sit tight and wait in hope for a sustained recovery in the share price. I bought an ETF in gold at the same time and wish I had put my CAML investment into that too...up 40% on gold, down 40% on CAML.
The reason I dislike it is that it has never made me any money over the last 2 or r years. Great company and well managed. But an absolutely crap investment for me personally
The share price seems to indicate the company is not very much liked.. Perpetual downward trend over last few years... I hold my shares but something don't feel right about this one.
Plenty of life in my opinion. A low cost producer with management that make good decisions is exactly what you want at the moment.
I have followed CAML a long time, and been in and out. But has it run its course? Or is there life in the horse yet. I see low interest in this board, and just wonder why? Any opinions?