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That's what I said on twitter Toffeeman, if those greedy ***** the mm's will not give us a fair price we'll get it via a special dividend. Lots more to come too, the properties are worth a lot, he might take a small haircut to get them out too.
I reckon they are looking to special divi, hoping for 1.5p plus. Plenty of upside imho.
Just taken a look
Great deal
Is current cash likely to still be around $1.4m (as they are profitable?)
So with this sale, cash maybe ~$3m USD and they have other interests on the books
Any idea what they are looking to do with the other investments since they have now sold off this one? Be interesting if they were looking to offload and then either distribute the cash as a special divi or RTO/acquire a new company, either way the value would be easily 100%+ from here (Arguably 200%+ since the recorded NAV is £6m+)
https://www.investegate.co.uk/cambria-africa-plc--cmb-/rns/investment--update/202210271216473721E/
LOL, Market cap here £2m. Just put £1.5m in the bank alone on this rns. Add all the other stuff this is massively underpriced, imho.
Brilliant news. Should re rate on this RNS
The only thing PREM and CMB have in common is geographical locations. CMBs assets are held outside ZIM by holding companies so USD sale wouldn't touch ZIM. If all assets are sold off the company would have to delist. If you want real value there buy CMCL but it looks like you're only interested in micro priced shares.
It's weird how everything with CMB is "difficult" but with PREM everything is amazing. With them in Zimbabwe would they not have the same troubles getting USD instead of Zimb dollars, it's ramped big style and has a massive valuation now, personally I think CMB is a much better value play for Zimbabwe.
Personally I would accept discounts for USD on the properties, return most cash and then become a shell. Or maybe use current cash for a acquisition outside of Zimbabwe.
I suspect that any offers might have been too low to accept. The Radar holding will be particularly difficult to shift. Still a resolution with the RBZ on the legacy debt would have a major positive impact. Reinstatement of the OMU holding on the ZSE would also help. Could be a long wait before any sp improvement
Well it will happen at some point. Surprised there's little interest as it's better value than post penny stocks on the market.
"In its efforts to realize its NAV, the Company is actively pursuing avenues to sell its property and its indirect interest in Radar Holdings Limited ("Radar") shares. While we believe there is firm interest in our investment, the Company will only sell such investments if it can achieve value at the holding level"
Any property disposal should have an RNS as it would represent most if not all of the m/c.
I've took note of several properties for sale in the Mount Pleasant area all for USD by Hollands Harare. One has disappeared, firstly I do not know if it's been sold and secondly I do not know if it belonged to CMB but the price was in their range of $2 mil USD. I'm guessing if it is or not the property will get sold at some point and give a huge boost and probably returning of capital to shareholders with Sammi holding 377 million shares the horse is definitely trying.
worth keeping a close eye on now.
Not that dire for CMB, maybe it's time people shop avoiding stocks because it's "Zimbabwe". They are happy to pile into Prem with that dodgy George Roach at the helm.
Crazy low valuation here. You do not come across many stocks worth sub £1.7 mil with £1.1 mil cash out Zimbabwe, cash in Zimbabwe, profitable business's making £200k in 6 months, properties worth millions too which are up for sale at the right price. The overall penny markets are tumbling but this is the best value stock on all my monitors.
Things are still dire in Zim. I've got a Zimbabwean friend whose mother lives there. I'm at a loss to think why anyone would buy the Radar stake. It provides neither income nor influence. Zero chance of a moneyraise at this price. The free float is only a few hundred thousand pounds worth. The well conserved USD deposits in Mauritius underpin the sp but testing the market for asset disposal is the way to go imv.
Plus virtually zero chance of a placing, how many others on AIM can say that. Very little downside risk here, imho.
It sounds like things are recovering a bit in Zim and Shasha plans on liquidating the Radar holdings for some amount - maybe he'll turn things around and at least get liquidation value for the company's assets. I imagine he's motivated since he owns 2/3's of the company's stock. Shares are probably worth a fair bit more than current price.
eyups
Has a twice a year mini spike, buys at this price a reasonable punt imho.
Nothing new since report earlier in the month.
3.5 bagger? Not going to happen. These are illiquid Zimbabwean assets and will be hard to sell (especially Radar stake). They have looked after the cash in Mauritius though. I suspect the sp wont budge much over the coming months. Hope I'm wrong.
"We remain cautiously optimistic about achieving full value for the Company's assets beyond its NAV. At this point in time, we hope to increase shareholder value through appreciation of the Company's share price to reflect at the very least, net equity per share. This would bring our market valuation closer to the Company's current NAV of 1.16 US cents per share which is 3.5 times the closing price of 0.36 US cents per share (£0.275) on 28 March 2022."
At the very least 3.5 bagger.
NM
Well in the past its been released in Feb - although I know there was a delay last year. I was just guessing end of the month. No special information here.
How do you know when the accounts are coming out?
We'll see if the CEO, who owns 2 thirds of the stock, has made any progress with the company when the accounts come out around the end of the month. He seems like a competent manager. There's a chance of a positive development.