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So very strange goings-on with M&G - firstly reducing their holding in June and now increasing again a month later. What's happened in the space of a month for them to partially reverse their decision? And they'll have had to buy back at a much higher rate................
RB - nice to see you here, didn't we have some jovial dialogue on ITX? That was a nice one for us, and continues to be so.............hopefully same here. I've been invested here for over 10 years now, first bought in at 49p! Since averaged down but a little way to go, like you. I continue to like the story and believe it will come good. It's a volatile share, but the vertically integrated and diverse nature of the business, means it has a resilience and provides it with support, in spite of the debt/FX issues. I do feel that once debt is drawn down significantly, the chains will be released and we'll see an upturn. I'm also interested in how their expanded retail offering develops
RB I've always enjoyed reading your insightful posts on POG (where i have been invested since before the dilution) but was surprised to see you here on ZAM where I am also a long term investor. But anyway, look forward to your take on ZAM.
DD&& - similar position I've been invested since 2016 expecting food producer in Africa to be a growth story.
I added when the price was 5p but only enough to get my average to around 13p as well. I do feel this has potential to return to 20p ... and I comfort myself (not) by knowing that this is better performing than my other African food play Agriterra !!
Looks like the gradual ascent is continuing, with 10p paid now. It doesn't take much to move this, but we're seeing a steady accumulation of buys now. Now trading at 2 year highs............nice to see, long overdue. Some will have done very well here when buying at 5p. My average is still 13p so some way to go but feels within reach finally
As this is also traded on the Zambian exchange, does anyone know how those trades would show here or not?
Looks like the seller might have exited, as we're now starting to see a steady rise..............almost unprecedented for this share! Nice to see and hope it continues..........
Yes, chunky trades + chunky 'unknowns' at mid point + no rns.
My best guess is market makers buying/selling/mucking about trying to kick this share to life! Unfortunately apart from the chunky ones, and the pathetic 'few quid' ones, there are very few real world ones e.g. 50k or 100k.
Happy however the general move is upward!!!
The chunky transactions continue!
In fairness I missed the holding one until today - it was only when I saw the H1 report I noticed it.
If M&G are selling down their stake, we could have some suppressed SP for a little while longer
Thanks, I missed that RNS coming late in the day.
I wonder if M&G PLC are selling down their stake further - the RNS on 4th June showed they had sold down to 9.45%.
Half Year report as expected. No detail on debt repayments or the level of debt currently, other than the Debt/EBITDA gearing.
It doesn't take much to move the SP, it feels like it's tightly controlled but could go on a run when the seller has cleared. Here's hoping...........
Feels like someone is playing silly beggars with 4m shares. Always on the mid so cannot say buy/sell. No RNS. Must be the market makers trying to fire up some interest rather than buy/sell 100 shares here and there. Not sure what the point is unless they are trying a variety of tactics to get this to a sensible market valuation. However sensible relies on trust that Zambia will not blow up after the election.....Come back St. Leger day?
Another 4m of sales again today...........it feels like this seller is holding the SP back. We will surely get holding RNS in due course
Crazy isn't it?
Just ran the 5yr share price and noted we were back to where cdc came in.
What report is that revolutionary?
No change in SP. Feeding more Zambians?
4m - That is huge!! If the big ones are related, that I believe is beyond Irwin/Grogan pension pots. We should be expecting an RNS if they are a build for a fund as that must be beyond 3% by now (although not counting!!). If no RNS then maybe we have just become popular among many institutions as that does not look like PI money. Zam Gov pension selling up but not reporting would probably see the SP dropping. Rabb selling up? Again that scale of sales would see the SP dropping not rising.
Lots of play money transactions as well. Not our normal backwater doldrums!
And another 4m sale gone through. The mystery goes on
Hi again John!
From what I've seen here, the numbers of trades are tiny with most being for stupid small amounts which I guess are the market makers. So this is stagnant in a backwater of AIM. However the recent very large transactions without any RNS got me speculating as to what might be happening:-
Theory 1: Both founding directors retired recently with significant levels of shares. If they have loaded up a pension pot with those shares that might explain it.
Theory 2: The government of Zambia is short of cash and not averse to bending laws. Could they be selling the family silver (pension fund) ahead of the election and forgetting to bother with notification rules in other countries? Would AIM levels of monitoring pick that up?
Theory 3: Africa funds have done the calcs and can see how cheap this is. If you buy an africa fund you are inherently taking the type of risk inherent in Zambeef so if things get volatile its accepted.
My hope is that it is theory 1 or 3 and that a re-rate will happen quite quickly when they have some more good news to report. I don't think we will see dividends before a change of government as dividends means paying taxes into a bottomless pit when I guess CDC would prefer development in Africa.
Morning DD77, I'm afraid Zambeef is among many undervalued stocks getting the cold shoulder from investors in London.
No doubt some of the negatives you pointed out take preference over any positives as the LSE loves bad news over good news. Still have an interest here though I sold my personal holding sometime ago. My partner resists my advice to sell and move on.
I hope he's right.
I'm not entirely clear why they released either but nice to see some numbers attributed to it. $2.5m Profit after tax is phenonemal - the company is so undervalued it's not even funny. $102m revenue and £23m MCAP................those multiples are nothing compared to other sectors. I know agriculture is not really a sexy industry but it's a stable one. The assets alone are worth many times the MCAP.
Clearly the debt level, the FX fluctuations and the fact they're operating in African countries adds risk but I still don't feel the market is properly valuing ZAM. I'd be tempted to add more here but I'm already quite leveraged.
It'll be interesting to see what they do with the profit. Wouldn't they typically pay down debt before announcing profit, as that would reduce taxation? So debt may already have been paid off within that figure
I’m not clear why we needed this statement, probably only a few days before actual half year results? They did this last time too.
Presumably means $2m will be paid off debts??
Another big one! 4m shares - more than 1%!! Where did they find those ??