Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Following the analysts' meeting, Panmure Gordon re-iterated its "buy" rating for Dolphin Capital Investors (DOLC), the real estate investment company, with a 100p target price. The broker notes that the company continues to make progress on the first phases of its four advanced projects and has a "solid" net cash position at group level. Trading at a perspective 79% discount to the current Net Asset Value, Panmure thinks this discount is anomalous and expects it to narrow as developments progress.
Dolphin NAV sinks Date: Tuesday 22 Mar 2011 LONDON (ShareCast) - Mediterranean residential resort property investor Dolphin Capital Investors reported a decline in its net asset value from €1.94 a share to €1.82 a share in the 12 months to December 2010. AIM-quoted Dolphin’s net asset value fell from €1.26bn to €1.14bn, with the fall in the valuation of the Aristo subsidiary blamed for most of the decline. The sterling-based NAV is 173p a share. There was a €17.4m property valuation write-down and investment manager fees of €18.1m. There were property disposal gains of €9.89m but admin costs and other charges, plus the interest charge meant that the loss was €78.2m. That is around two-fifths of the previous year’s loss when the valuation write-down was €124.7m. Net debt was around €367m at the end of 2010. The finance for the development of the most advanced projects has been secured. This year the focus will be on selling properties in the main projects.
fly tomorrow topped up with another 3k as there was so many big buys today
DCI the results are due sometime this week, but v quiet on here
Date: Tuesday 21 Sep 2010 LONDON (ShareCast) - Greek residential resorts developer Dolphin Capital Investors is trading at a discount of more than 75% to its net asset value. AIM-quoted Dolphin's net asset value after deferred tax liabilities is slightly lower at 156p a share at the end of June 2010. This was due to the reported loss and a 9% appreciation in Sterling against the Euro. The shares are trading at 36p. There was a €1m valuation gain on investment properties in the first half of 2010 but this was not enough to prevent a first half loss of €11.2m. There is cash of €40.7m in the balance sheet. There is also gross debt of nearly €380m but none of this is at company level. Since the end of June, Dolphin has sold a 14.29% stake in the Aman at Porto Heli for €11m, which represents a gain of €5m on the original cost of the land. Completion of the planned hotel is expected by the end of 2011. So far this year Dolphin has made €53m of new asset sales and further sales are being negotiated. Dolphin is progressing with its existing investments but does not intend to get involved in any new development projects. http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?csi=150376&action=news&story_id=3701531 GL all & as always DYOR
hasn't affected the sp this was being held back now the seller has gone this can only go up, wonder why they sold as results due tuesday
7mill sell
are some sells
look at those big buys
big rise coming tuesday
house. (I got sick of the smell of banks all about me and swapped out some). Bolly for the new holiday home - buy 100,000 DCI at 35p = £35K, sp £1.00 by Summer, swap shares for £200,000 flat = 82% discount. Dream on....:-)
formatting - there are two columns headed Before and After
in this company as of today. For those who don't understand how the share swap adds value this is how it works: Before After Property to be swapped at NAV (assume all sold) 50 0 Other properties to be kept at NAV 950 950 Total Net Assets 1000 950 Shares in issue (-100 shares as 100x 0.25 x 2 = 50) 1000 900 NAV/share 1 1.05 Share price 0.25 ? It works so long as the share price is less than half of NAV. (And remember they are only offering bits and pieces)
Hi all been watching this for a while & got on yesterday. IMHO now well worth a punt with confidence in real estate seemingly rising. This looks a solid company with no debt. This is not a ramp, just bringing it to the attention of anyone who may have over looked it. As always DYOR.
cheers mate.
It is DCI i'm sorry I don't like to crosspost as the bb become well i'm sure you know what I mean.
The Buy Back scheme seems not to have been noticed in the mainstream press yet. Pretty radical as it essentially devalues their properties by 50% so I suspect this approach will change fairly quickly once they notice blood leaking from the hole in their foot...
A 90k flat for 45k seems like a good deal, though a strange way of buying back shares...
do u kno wot there annoucing m8