Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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No idea of my average but def around 0.3p this time around but I've made fortunes trading CMB for over a decade and I'm not one of those people that will want money back before I sell. If I do not like a stock I just sell it and yes I do have too many, the 850k sale the other day was not me though. When that 2 mil+ buy went in it was 500k max online at 0.24p so it could have easily spiked on any interest but back to being dead again. I think the properties should be just sold for a discount and be done with it he's being stubborn but sometimes selling a £2 mil property quickly for say £1.5 mil is the best way out assuming he can get that amount in Zimbabwe
Market thinks there's only 1 in 5 chance of realising full value of assets. Property is the main stumbling block for me. davey sounds like you've overcommited here. What's your average? I got mine down to .6p. Still a long way to go
£5k buy today which is massive for CMB, I think all of us would just like to move on now. I'd probably like to have sold that 2.27 mil to that buyer, I'm not negative but my holding is just too big for me right now
I've been in since Lonzim days too. I suggested to Samir a move down to Asset Match as a cheaper alternative. I think he wants to hang on to the cash for flexibility(?)
Yes.
I've been trapped here since LonZim days.
If it costs xxxx to list on Aim and Samir wants to cut costs he could always move down to a less regulated market. It's not like CMB has any institutions holding their stock.
But to get ride of some of the cash held on account, Samir could easily issue a 'special dividend's and again at the next sale of assets.
We have to trust in him, so he will do what he thinks best.
He's long been reluctant to delist but it costs around £120,000 pa to be AIM listed.
Two pluses and two minuses for the company.
Pluses. Cash covers m/c. Legacy debt is gradually being recovered.
Minuses. I suspect the property sale is hard going right now. Also the Radar sale seems to be stuck in a regulatory mire.
The liquidation process will probably take years to complete hence the large discount to NAV.
Have you got the patience?
Well said silverknight, we can believe Samir is doing his best under difficult Zimbabwe regulation. Again I'm guessing, but I'm thinking he added the de-listing bit at the end because he wants to be open about any possibility.
Time will tell all.
He can't do that. Think about it. The cash belongs to the company (ie ALL shareholders) If he used company cash to buy back the 30% he doesn't own he then has the company at no cost to himself. How much of that 30% is available right now? Remember this guy has run the company for years without payment. Probably unique on AIM. Most directors would have taken the cash as directors salaries. I'm sure the free float is tiny right now. I've held for 10 years so will see it through.
And look at Seed 850k buyback, people were suggesting it and they listened. Samir could use the cash to buyback most of the stock and still have loads left over it's so simple...to me it is then we can all move on
Totally agree, do a share buyback, then delist.
I mentioned on Advfn if they are thinking of delisting then Samir could gain 100% total control using the cash resources to buy out the remaining stock. He holds 70% of the company so 30% atm costs less than £400k, he could offer 0.4p per share and I reckon most would be happy to take it and move on or why not share buybacks with the cash resources ?
It's always been a "bargain" but it's now starting to drag this Zimbabwe stuff and I've had enough, I've got over 10 million of these folks and I wish it was just 1 million and then I could not care less what they do.
Same here guys- 300k more at .224 will turn into much more cash in a few years time and happy for it to delist as listing clearly does them no favours. As usual it will pay to be patient.
Agreed, just bought a few hundred quid to add to my existing. They have said they will look into selling everything and distributing the funds. Guess it will be more than the 0.224 I just paid. Just sit and wait.
As the company indicates in the rns there is little point in continuing with a listing. The discount to nav is huge and the mkt is not interested in this type of company. My guess is that the company will delist and holders will get bits and pieces of cash back over the next couple of years equivalent to about 60. So I will hold these and might even add if the price falls to silly levels. I recently received a slab of money from a delisted company that was much more than I paid. You have to be patient but the assets here are 4.5 times the current price. This is the problem with the U.K. mkts at this time. Cheapest levels ever and no liquidity and stupid red tape
Finally relists tomorrow 15th September!
Think that the company has until 20 August to relist, ask for an extension or be delisted from AIM.
Could results be published soon?
Paynet use to generate profits of up to £2 mil around 5 years ago before the Zimbabwe government decided they did not like people making money providing a great service and stopped it so this as you say is excellent news...massive infact. Because it's only valued at £1.5 mil, they are almost covered by cash most of which is outside Zim. They just want to take a hit and sell everything in Zim and get out imo, it would still be multiples of the current price and with this potential news on top the shares could be valued at 5-10 times current level.
Excellent News - In suspension at the moment
Cambria Africa plc
("Cambria" or the "Company")
Paynet Software Agreement proposed to Multi-Pay Solutions (Pvt) Ltd
(Multi-Pay)
Further to the Investment Update of 27 October 2022, and in keeping with its strategy to maximize realizable NAV at the holding level, Cambria Africa plc (AIM:CMB) ("Cambria" or the "Company"), has in principle agreed to grant Multi-Pay Solutions (Pvt) Ltd (Multi-Pay Solutions) exclusive rights to use, distribute, and operate Paynet Software in the Southern African Development Community (SADC). Payserv Africa will continue to operate Paynet outside of the SADC region.
Paynet Software is a multi-currency payment solution that has been trusted for over two decades to streamline secure and efficient interbank/intrabank (onus/offus) bulk payment and gross settlement transactions.
Commenting on the proposed exclusive arrangement, Frances Pickering, Managing Director of Multi-Pay Solutions, stated, "With independent management and control, Multi-Pay will build on a proven and tested platform, offering a unique and reliable opportunity for our partners in the banking industry."
Cambria's CEO, Samir Shasha, commented, 'This proposal, if finalized, would be an important step in our efforts to realize the value of our proprietary software and aligns well with our ongoing strategic shift. Multi-Pay, by leveraging its extensive fintech experience and market knowledge, is uniquely positioned to distribute and operate the Paynet Software, driving substantial benefits to financial institutions and consumers alike.'"
Cambria is in the process of active fixed asset realization. As previously announced, Cambria is concluding the sale of its interest in Radar Limited. Since October, the Company has recovered about $400,000 in Legacy Debts at the holding level. The Company is yet to release its audited full-year results as of 31 August 2022 and management's half-year results as of 28 February.
Cambria will provide further updates on the progress of this strategic partnership as and when appropriate.
LOL, probably the worst comment ever posted on LSE. Useless.
Yes, at this price the assets net of cash worth about £500k. I suspect they are having problems concluding the Radar and property disposals. If both happen the sp should rerate to about .45p. Tortuous.
Hopefully a repeat of last year, get the accounts sorted, make some kind of disposal and return to the market with way more cash than market cap. Getting to the point soon where market cap will be cash if they carry on with this manipulation.
960k of buys today the 150k at 0.28p was a buy v 740k of sales and price finishes down 10% go figure
Another accounts delay. They use meaningless expression 'on track to deliver' objectives previously stated. That track could be 100 yards or 100 miles!
You should read the orgasms they are having on the Vast thread over Zimbabwe.
And we cannot even get a trade for a week now here when this is miles better value than that Vast garbage
Never sold your house then silverlight things do take time and this is Zimbabwe
Well if you believe the Vast Rns this morning things in Zimbabwe are getting better for business and they pile into that rubbish at 6 times the price it was on Monday and we cannot even get a sniff here when it's a much better stock
3 months and no news on property sale or sale of Radar holding. Bleak article on Zimbabwe in Sunday Times yesterday