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It's a sell off of the overall market. All assets will decline including Zambeef. Also, the Zambian currency may decline against the usd considering the economy is dependent on copper.
Am I missing something? Isn't the cash for the farm sale due to come in within a week. If my calculations are right, that would be more than half the current market capitalisation and yet only represents a tiny fraction of the assets and non-core to the current strategy.
The business is fundamentally sound and i'm impressed with what the leadership does, how they're prioritising certain parts of the business, reducing $ debt, diversifying the business and creating a vertically integrated supply chain.
However, ultimately people will focus on the $ return and the weakness in the ZMW has wiped out the gains this year - revenue is down in $ this year, whilst PBIT and EBITDA is only marginally higher in $. And debt and has increased by over $10m due to higher input costs and challenging cash flow position. The sale of the farm should address this somewhat, and the SP seems ridiculously low but there just doesn't appear much appetite for shares like this sadly
Well that went down like a lead balloon!
Think some decent upside here.
I bought on Friday and will scale in over time
On a Friday might have caught a few by surprise. So the sale is still on for $10 million , near half our MC . GLA
Zambeef Products Lifts Earnings Per Share Forecast For Resilient Year
Morningstar·4 hours ago
Zambeef Products sees annual earnings per share rising 73%, 6 Dec 2019 13:14
Lol, yeh saw that on the sells. Hopefully move some on Monday when the RNS comes out. Directors all paid 10p plus. £10 mill due early next year from a farm sale. Only downside is depreciation of Zimbabwean currency, but it's nowhere near 73% lol
Sold already. lol
We have this news early next year , i don't think is priced in yet.
Disposal of Sinazongwe Farm for USD10 million
On or before 15 March 2020;
Give thin volume where this could go if the herd arrive...
Absolutely. Strong business Imo given conditions.
Give it some time, this is a very thinly traded stock . Last time this moved well it took a couple of day's to pick up momentum. With the possibility of a weaker US $ next year this could be the time to invest. IMO
73% higher..
Could be a bag here for the brave
Lovely RNS, 73% increase... and that's through difficult period lol...imagine what they could do in a good period!
Nice rns...
Another good RNS with year end profit expected to be 20% higher than expectations and we only see a 5% rise in SP. So disappointing this SP performance. I’m not sure what more can be done.
It will interesting to see the level of debt and $ exposure in the next results, as I’ve always felt this was holding this back somewhat
Still watching...................................
Most pp buy today they sold after one hour at loss. See most traders sold at loss whom bought at RNS time. The fact that SP didn’t not move up with that huge volume put most of ppl down.
Ah, thanks for that.
The big £54.96k sell at 14:11 might have been the culprit? See what happens tomorrow.
When we expect 50% a day we get 5%. This is the market. “Unfair”
Good to see a positive RNS and movement for once. They bought this farm for $2.3m so a significant gain.
As someone who invested in this at 49p originally and continued to average down to about 12p, I need a lot to even break even. I still believe in this company, hence i'm still holding but it's frustrating