Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Ladies & Gents
I trust you are all keeping well ?
I've not had anything to say here for a while hence my radio silence but I am in the process of organising a post covid p*ss up with some old mates and thought of having our first livener in Pitcher & Piano, Cornhill branch, website says opens at 10.00 on weekdays, never been my favourite watering hole but the timing was perfect, so on a belt & braces approach I called them to make sure that they were not just serving morning coffees then but was told they do not open until noon. "But your website says 10.00" I said.
Yes, it's wrong, needs updating, was the nub of their response.
Now this might strike some people as trivial but it does show sloppiness in management if they cannot even put the correct opening hours on their website.
This is a chain of wine bars which pre covid etc they could not sell even at a substantial discount to book value, investors might recall. So now having got their valuation too optimistic they do the same with their opening hours, a bit shambolic ?
Barchid, thought you may have been in SA?
I have been relatively absent on this board. There has'nt been any real activity. It is very disappointing that we have not seen any results from CMBC, I guess being a Private company the only condensed accounts will at some point be available on Company House portal.
Your experience with Pitcher and Piano is appaling and if replicated throughout the group it rather kicks into touch RF notion of creating a Business of Operational Excellence, following the sale of our Crown Jewels! Maybe he took the buzz phrase to Vistry??
FD
I agree re vistry, and wrt SA, we returned 6 days ago, fully "Castle'd up" am pleased to report...
Trust all good your end ?
Barchid, yep all good now NZ borders are open, hope to get there later in the year.
YoYoMa and I are doing very well elsewhere and would you believe the company is paying dividends, every month. Cannot knock it. Not sure if and when MARS will resume!!!
All good here Barchid. Glad you are ok.
It has been very quiet on this board of late. I was beginning to think people had sold up and moved on to be fair. This has crossed my mind a few times if I'm being honest. Only my own Pig headed stubbornness seems to be stopping me TBF.
That said, we're off to Zakynthos soon, a lot earlier than when we normally go (Sept, Oct)
Due to our youngest lad's school not letting him have the time off during term time as they used to do. Still. We've got away with that for a number of years already, so we've had a good run of it so mustn't grumble.
Trent
Have a great time in Greece, happily when my kids were at school the out of school holiday breaks were normally done on a nod & a wink, these days of box tickers things like that are ancient history.
A shame...
Keepwell
Rgds
Cheers Barchid. We always do.
You're right about the box tickers. They're a pain in the @rse to say the least, aren't they.
I used to have a bit of a rule as not to go to the same place more than a couple of times, as I wanted to see as much of the World as I could, but there's something about Kalamaki that keeps me wanting to go there. Who can explain it.
Kind regards.
Broker recommendation, if you believe them, not looking good.
Trent maybe you are mesmerized by the place, as some of us have been here??
@ Fairdealer. Yes, there's that mate. We all have the things & places we're drawn to, don't we. How's things mate?
@Barchid, you've been to SA recently then, have you? I seem to remember you saying a while ago you visit the place from time to time.
Trent
Correct, we love the Cape and came back last week from a lovely trip down there, a great way to miss winter in UK !
I sold out of Marstons in Feb this year. My original prompt for buying was a Tempus article in the Times on 06/12/17. The attraction of the company being their high yield. Downside was their worryingly high levels of debt, which exercised the minds of many on this BB.
Once Covid came along, the dividend was cancelled. This was the correct decision from a company point of view but useless for anyone relying of dividend income. After much hand-wringing, I took a loss on Mars in Feb (offset a little by the previously good dividends) as I could see no prospect of a return to dividend payments or at least anywhere near their historically high levels. Not relevant to Mars but I reinvested my money in MNG which, like many financial sector companies, offer a very attractive yield.
The above aside, I just cannot see Mars recovering at all, I am a fairly big frequenter of pubs and they are still relatively dead compared to pre-Covid levels (even at the weekends). As far as I am aware, Mars still have their cripplingly high debts to contend along with the prospect of even higher interest rates.
Worst case, I can see them: 1) going bust, 2) being taken over for a pittance, 3) just staggering on until the usual stock-market shenanigans whereby existing shareholders are diluted into oblivion because of some emergency fund raising exercise at a knock-down share price.
I can see this bouncing around the 60's until the global markets stabilise and inflation levels out, it will be interesting to see the supermarket beer sales in the interim results in a couple of weeks.