Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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....£3.20 after the split.
Historical there has often been a discount but not always. And arguably there shouldn’t be when a company has such a successful record.
I think there was a hope that the discount would narrow on entry to the ftse 350 but alas not.
Some level of discount is to be expected based on historic. But if the NAV growth continues to be positive then that would be good enough and the discount closing would be a bonus. I think 15% discount is about right.
More purchases. Buying at such a discount has to be a good idea but quite limited.
It will be interesting to see what comes out at the AGM
They have done it a few times way back - but I think those were for cancelation, these are going into treasury.
I assume that they will bundle them up and sell them on to a II at some point in the future, this would be at a premium to what they are paying now ( but at a discount to the sp at the time).
I guess that the discount is such that they feel this offers a better return than re-investing in PE.
Next months NAV should have a good fx tailwind, they must also have a better view of the forward pipeline/nav than we do so I suppose that it shows they are confident that this looks positive going forward.
Well recent RNS have shown purchase of own shares. Sensible but small and why now? They have had the authority to to this for years but we haven’t seen this.
Rather muted response - 9.8% increase in nav, a director buy and we only creep up 2.4% ....
Hopefully once the seller is done it will re-rate to its more typical (although still too large) discount.
really happy about.
Broke £30 for the first time. Would be a red letter day but I am also heavily invested in TXP so double red letter.
In the month to 31 August 2021, valuation gains* added +319.7p (+9.0%), investment income* added +2.1p (+0.1%), foreign exchange movements* were +31.5p (+0.9%), share buybacks added +0.1p (+0.0%) and expenses and taxes**** were -6.2p (-0.2%).
Massive jump this month.
You can see why Jeffries moved to a buy on PIN yesterday.
....our investments are not quoted! Right now it's a bloodbath for just about all quoted stocks. I know it will pass but pe is a haven of calm.
New high.
Continues to start at the bottom left and end at the top right of the price chart.
Double SP over 5yrs.
A lot to like.
...U!!
Who is going to sell these ahead of the split if they are not desperate for cash? That should cause the SP to harden over the next few months , all else being equal.
My first post here was 7 years ago, and PIN was a 22% discount. 7 years on its much the same discount but the SP was 855p and now 3x that.
More importantly I go to sleep and don’t worry about it.
My first week of holding these! Iknow the RNS revealed only OK results but they were not BAD and did not deserve punishment like -2%. The ratioale for holding these is still there but for now there is disappointment.
...this would move up. 30 quid equivalent after the sub-division. ---at least!
Day I buy the shares end with a large dip! Not overly worried because it was a Friday and sometimes this is a mm's weekend markdown - least I can hope that was the reason. Anyway now I am in I intend to hold.
Obviously shouldn’t make a difference, but the market often isn’t logical; lest not in the short term.
I cannot believe these will divide and go down in value by more then the divisor. It is on a large discount and my guess is the new shares will quickly march over £3 each.
Proposed for Oct AGM. Not sure it will have much impact on the discount though.
The increase in volume over the past week looks like someone has been reducing. I topped up with some more today as it must be getting near the bottom of this dip, will add a bit more if it does fall further, at some point the discount will reduce as it must be nearly 10% more than its long term historical average.
RNS NAV 3,521.9p, up 2.1% on the month, though most is FX gain.
This is nearly a 24% discount to NAV, or you buy £3 of stock and you are the partial owner of nearly £4 of underlying.
Even greater if you discount the £200million it has in cash.
As I have said many times before this is too big for a company that has such a long and consistent record of growing NAV, indeed arguably it should trade at a premium.
Thanks.
Makes sense.