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I made a small addition today following the announcement. Disappointed that the spread is still so large, I expected the 4 for 1 corporate action to rectify that, unfortunately not.
@adv11
Agree with you re the spread, scandalous !
However the comparable divi in Feb 2020 was only 6.75p in the old form, I believe, whereas this is 12p in the old form so a very pleasant hike.
This came out 2 days early, isn't it odd how good numbers can be added up faster than bad ones ?
So SP plumped up as well as good divi. I will probably take up the offer and re-invest, hopefully LSE will take care of this for us??
Jarvis set to make around 100m when the sale of Eurasia Mining goes through.
Dimitry/duke
Can you enlighten me on this claim please?
Are you saying Jarvis are holding shares in Eurasia for their own account as opposed to in a nominee a/c for a customer?
I am confused, please help me to understand this thread.
Pardon my ignorance, but where do I find the information regarding Glencore buying Eurasia, and Jarvis handling the details? I've looked through the EUA RNS's, but can only see UBS referred to.
Sandy
I am with you on this, considering that the Chairman was so delighted, (rightfully so!), about fy 2020 profits of £6.8mill it seems rather remiss of him to forget to mention the possibility of another £100mill knocking around from EUA !
Phew! Thought I was going mad! Being an ex-Quality Manager, I do like to check stuff out!
However, we just invested yesterday after having JIM in my watchlist for months. I like the robustness of the business and the fact that they are dividend paying even in these strange times.
Sandy
Quite !
Looking at their balance sheet it appears very clean, main assets are cash or near cash, I have no clue what this static about Eurasia is all about, spoofers perhaps ?
Main thing is that every so often when they have accumulated too much cash they dish out a very generous special divi, which means that their yield is often much more than as shown in FT, Morningstar etc !
EUA stuff;- sometimes people make mistakes and post under the wrong company heading. Seen it before and it causes a storm in a teacup for a few days and then vanishes, ça ne fait rien
One to lock away in my wife's ISA. Depending on how my other shares do, I may add JIM to mine.
The following search - EUA "JIM nominees" - shows JIM's subsidiary nominee company as a holder of a substantial amount. Obviously not owned by JIM. My default position of not believing any posts that don't show the source holds true.
Rudolph
A very sound default position imho.
DYOR is sadly lacking in some posts !
Jarvis Investment Management Ltd own the shares in EUA.
https://www.proactiveinvestors.co.uk/LON:EUA/Eurasia-Mining-PLC/rns/120204
JIM is the parent company of Jarvis Investment Management Ltd.
"Jarvis Securities plc is the AIM traded parent of Jarvis Investment Management Ltd. Jarvis has been providing retail and outsourced financial services since 1984. Jarvis Securities plc is incorporated in England & Wales."
How this investment links into JIM's asset base and if sold what effect it has on JIM I have no clue as I am not an accountant.
soundsplausible
Agreed, pretty much as my post of 09.22 said.
Are we seeing spoofers here?
£100mill, really ?
Fascinating and WD sounds. They are of course "penny" shares wih an NAV of 17p oer share and the balance sheet totals are only £5m odd so unless something very unusual happens I don't see how JIM's holding of just 5% is going to get anywhere near £100m. unless I am missing something. More like £500k on a good day with the wind behind.
eccles, sounds
No fresh thoughts from the "spoofers" yet I note !
Perhaps next week they might have a large holding in Astra Zeneca, who knows?
Soundsgullible, if you had gone the trouble of reading the whole notice that you linked to, you would have read -
The Ordinary Shares are held by Jarvis Investment Management in CREST for the benefit of YA II PN, Ltd.
You really should question what you see and not only act on confirmation bias..
Thanks for clarification Rudolph, no problem JIM is continuing to make a small fortune for me as well as themselves wish I had gotten in earlier but recently bought another tranche.
You're welcome eccles, I've been in these for 20yrs now. Own quite a few and been collecting the drip shares for ages too. Picks and shovels company, whichever way the market is moving they make money.
RudolphToo - no need to cast dispersions towards me. Folk on here (inc. yourself) were mentioning EUA and it's links to JIM. I merely posted a source that links JIM to EAU via a subsidiary, something you mentioned being amiss from other contributors on this board. Yes they are held for another company but it would seem I was the only one who could be bothered to provide a source. I did sum up by mentioning I had no idea how this linked to JIM. Perhaps a more informed reply could have highlighted "on closer scrutiny of the CREST notice the shares are being held on behalf of another company, so the benefit to JIM will be negligible", instead you decided to mock me.
Perhaps you may enlighten me with your 20yrs investing acumen in JIM? How did you manage to invest in JIM this far back, as I understand they only came to the AIM market in late 2004?
Eccles, Rudolph
Another very strong day, can it last ? In a week we are up from 230 to 278 (or over £11 in the old form), surely they need to pause for breath sometime soon ?
Unless of course someone might be expecting a special dividend shortly, that would be nice wouldn't it ?
Hmm can't always be sure but I ain't selling. I have another AIM share which started at £3k about 6 years ago and finished up at just over £16k recently so anything is possible. I have in the past cut and run when I have doubled my money but now believe that is not how to become a millionaire although I am getting close. Mr Buffet says if he finds a good share he just keeps it.