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"CELAMIN HOLDINGS - INVESTMENT UPDATE"
https://www.investegate.co.uk/polo-resources-ltd--pol-/rns/celamin-holdings---investment-update/201810081529473287D/
* 2nd and corrected version
I’d love to average down as currently sitting at about 15p but to be honest, although the NAV is much higher than the current SP, I just don’t trust Tang to deliver any value to his shareholders so I’ll just be happy to get some of my money back at this point. Good luck
I feel your pain. I too have been invested in this share since Dattels time. Currently I am many thousands down. I have averaged down and need about 8p to get even. While the share price is woefully undervalued the prospects going forward look better than they have for many a year.This is why I remain a holder, I think the next stated NAV will go a long way to a rerate in share price. Good luck to us all, we sure deserve it for the trust and patience given.
Short term needs???? I have been in this for years and it has colossally underperformed since the days of Dattels. It has absolutely been long term torture.
I do not believe the short term needs of us shareholders are uppermost in polo managements mind.The timing of special divi although welcome is probably premature when looking at the bright prospects of hib pet. The share price may go to somewhere round to 2 to 2.5 Malaysian dollar if oil price remains high. A share price collapse from present level seems unlikely as an increase in bpd is baked in to the future expansion. I hope to see great things here sometime in 3 to 5 years. Sort of given up hope with GMC, it looks impossible to deal with local government. More likely Prism will offer more excitement as its mineral assets become highly sought after. Probably not for day traders but maybe medium term things here will be just dandy.
Then perhaps it’s time to take some of those profits and return to shareholders of Polo ? Why else are we invested here
Probably profit taking, but hib pet down at 1.26 at present. Polo still sitting on huge paper profits. GLA
RNS today:
Swiss Supreme Court declares in favour of Celamin:
The Final Award found in favour of Celamin Limited, ordering TMS to return Celamin Limited's 51% shareholding in CPSA and to pay damages and costs in excess of US$4 million.
The Swiss Supreme Court has further ordered TMS to pay the Court's cost of approximately A$21,500, plus an additional indemnity to Celamin for its legal costs in the amount of approximately A$24,000.
This was of course expected and TMS has no money to pay damages and costs. The owner will probably just declare the company bankrupt, which is normal. Shame the owner of TMS was not ordered to pay for this swindle. The company itself is only an innocent vehicle...
Who knows Mr. Tang's mind, I don't. But with hibiscus petroleum the current Warren Buffet strategy of buy and hold is working very well. Sometime in the next few years a better picture of investment opportunities will become clear. At the moment patience and belief should carry the day. If a quick profit is needed I would suggest selling and buying elsewhere. The Canadian assets which are soon to be developed are probably the most exciting prospects for the future. GLA and let's hope the captain here improves trust issues and employs good corporate governance for the benefit of us all.
"this company is adding serious value to market cap of Polo". I wish I could agree with you as I still have some Polo shares, but your statement is obviously wrong. No "serious value" has been added. There is no obvious or even implicit link between Hibiscus sp and Polo's sp. If there were, Polo would be much higher. But it's not. It has struggled to get to even half a penny higher than it was quite a while ago. The market does not see how value will be added for Polo shareholders, that's why. Does the market trust Mr Tang say to announce a one off dividend after selling all or part of Hibiscus in the way that Dattels did? The sp says it all.
Hib Pet up again around 4% so far today, this company is adding serious value to market cap of polo. I think at next financial report there will a large increase in NAV unless their is a collapse in current oil price. I have a large holding here and the present share price is disappointing but there is obviously great assets in this company. Will continue to hold and may add soon,but would like to see a positive RNS sometime.
Is everything (80% of NAV) everthing else GCM etc etc is nothing more than a distraction, blankerty blank cheque book and pen, Crackerjack pencil. At present worth over 10p per Polo share and JPM have just issued research saying Hibiscus is in a great position to push higher with no debt and great drilling. At $80 a barrel and more HIBI is a great prospect - Even P'tang Yang Kipperbang can't fluff this one - Awaiting upward rerating before arbitraged higher.
Boring
No chance, this thing is doomed
When is he going to release value. This joke of a share has been going on too long.
GCM up a bit following another very preliminary Chinese deral. Not too exciting at this stage, but worth mentioning if only to fill the vacuum on this board.
Things look great for hibiscus petroleum but today GCM took a big hit. Always thought we would eventually get the green light on the project but now not confident. I think it probably won't happen and in a few short years will be seen as a big mistake. Bangladesh govt should be carefully mining local resources and burning fuel with the most up to date technology. As usual bad policies receive approval from a bunch of useless politicians in my humble opinion. Wait to be pleasantly surprised sometime over the next 10 years in my early retirement!!!
Perhaps Mr T still hopes for a result with GCM and, there needs to be cash for salaries. I agree with "should be"!
I could not nor would I disagree with a single word. My point which I probably haven't made particularly well is that poorly run stocks should in a Capitalist market be swallowed up and ripped apart to create value for the acquisitor - there is plenty of value at 3p - When I saw massive volume yesterday on Hibiscus I did wonder whether Tang had developed a valuation creation brain by selling the stake and giving 8p back to shareholders, which I might add would be highly beneficial for him given the share options he gave himself at 4.5p !!
OK, fair points, and no-one really knows what tomorrow holds. I have kept a few POL shares in the hope of GCM coming good. But... look at it this way: not that many years ago one million POL shares were worth £400,000. Now those same shares are worth about £30,000. That's a £370,000 loss. It's the difference between a 20 acre farm in Wales with a nice farmhouse and very scruffy one bed flat in a bad area of Hull. No offence intended to residents of Hull by the way. Mr T himself paid 40 pence for his POL shares. Even if it becomes a ten bagger from the current 3p someone wno bought and held at 40p is still going to experience a loss.
Ha ha :/ kind of wish it wasn't
It seems your house is safe jamesss - lol
I'll put my house on it....money makers
why the NAV is so large? And what does it mean?