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Bid for 350k...
Think we’ll see a lot more than 17p Red
Hi all, been away for quite a while. To save me scrolling through pages and pages of arguments, can anyone tell me how the mine build is coming along? Have we been hitting all those milestones?
Or are we in the exact same position we’ve been in for years, save for the fact we’ve now sunk a shedload more cash?
Any ideas whats happeneing here...?
Somebody is buying big in the background again...
Thin early on...now bid for 250,000...16.60 on the offer...
Looks like FOMO is starting to take hold...how soon till we see 17p...?
Paulus57, pick the sloes now and put them in the freezer. Does the same job as the frost. :)
We had the first frost here last noght Pulus...beautiful day today...
I am lazy...I [prefer my sloes in a hip flask on the golf course...
Usual poisons:
Hendricks; Metaxa 7 star; any Vieille Armagnac; Tokay 5 Putts; Yalumba Museum Oz Port; Chateau Musar....
Can already sell at breakeven..waiting for liftoff...
We are OVERDUE news about the stake sale...
Has to be at a premium and then watch the price surge on speculation...
Remember what happened with the Mitsui news and the merger RNS...21p in an instant (before settling back)...
The hard choices are coming...
At what price would you sell some...?
At what price would you sell all....?
Are you going tyto hold the lot for a successful takeover...?
(Because Quady is holding for production he'll be holding Sumitomo shares...)
Or are you going to trade on the margin until the big one comes...?
100k...
Bought another £100k...thats it...
Similarly waiting for the first frost to pick some Sloes!!
Totally off topic. I'm waiting for a sharp frost in Cornwall to freeze my apples prior to juicing for another barrel of cider.
Interesting discussion.
I agree with both of you. Addicknt I feel has it spot on re current valuation and appetite from the market to apportion any sort of premium.
HubrisHunter makes some fair points in terms of future outlook, setting out the reasons we're all here.
I think there's merit in what you're both saying and a market will absolutely look back at financial results as a means to find a valuation when there's little to no appetite for risk on. When it flips however....
And here also...hard frost overnight...played golf in shorts yesterday...clear blue skies today 8degs...
You are absolutely right, Sean. It's just my opinion that, for the lack of a better alternative, the market is judging us by our net asset position.
Just keep loading up guys as and when able and never look a gift horse in the mouth...
Have a great weekend all fireworks next week, bang n time... ;))
Sitting so long at such a miserably low share price is enough to affect one's sense of self worth.
The only true valuation we will get is when a bid comes. The market valuation cannot be based on these current tiny volumes.
The net asset position takes into account the various categories you describe, but bear in mind virtually all of our assets relate to Cascabel and the rest is de minimus. As for other concessions, we have never been given any credit for them, which is hardly surprising. Hopefully that will change once we have an MRE for Porv.
Of course you are right about accounts merely being a snapshot, but the fact is the only change that has occurred since the y/e is that the cash position has diminished.
Morning Red
Beautiful day here ….
Incidentally, I don't believe anyone is applying any sophisticated valuation techniques to us at the moment for the simple reason it's virtually impossible to do so.
Our assets could be worth multiple billions or, they could be worth nothing - I'm applying that comment to us, not the asset itself. And the current absence of cash makes the task even more difficult.
Bought another 99,171 just under 16.1....
Now let's wait and see...off to do the shopping...
Hi HH...I've noticed a better correlation with the Gold price than copper over the last couple of years...my assumption is because there are very few direct gold investments in the UK market and PIs see SolGOLD...
Thanks for your informative posts
I didn't say it was; it's simply one valuation, which incidentally, is not too far off the mark.
The combined net asset position of CGP and us is approx £482m. The combined market cap is approx £446m. In other words, the current share price of both companies is giving us a valuation roughly equivalent to net assets.
We all believe this is a significant under-valuation, but it's easy to understand why the market doesn't.
Not sure if it's relevant