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Decline in the Kwacha must have a material affect on the spending power of people in Zambia. I cant see 10p here until that changes. Pity as i like this company.
3 million shares is just below 1%
Could that be an existing shareholder not wishing to show their cards and keeping to below the level needed to trigger an RNS?
Money I had ear'marked for here
I had to use in REA when the shares suddenly fell off a cliff at 9.30am hitting a low of 44 down from 88. Today they were due to report F/Y nos but failed to do so which upsets investors. Never a good idea to miss your reporting slot. Picked up 2 lots at 49 and 51 having averaged 129ish on previous trades. We shall see....if that was a wise move or just bought into a suckers rally.
What's more, he bought in at 7.5p!
Now that is what you call a delayed trade from Monday..........................someone putting their hand in their pocket to the tune of £225,000 to acquire 3,000,000 shares. That is one confident investor in ZAM's prospects.
It certainly looks to be heading that way!
oh dear
next stop: 10p+?
No, navel gazing as usual rev
might as well wait for the top before buying....ffs!
Despite the obvious headwinds, ZAM seems to be tidying up its financial affairs and still feeding the nation. Doesnt look like (from a very far distance) that the Covid19 pandemic has hit Zambia too hard. Are any on this board living in Africa?
I have held shares for a good few years and like the company a lot. Good progress has been made year on year but never reflect in the sp.
Nice to see you back John! Did you get back in at the bargain basement prices?
That's what I was doing rev....
Grrrrr!!
I noticed when I first invested here that there was a significant time lag on the market reacting to good news. This is another example where you could have spent a couple of days looking at your belly button.
A couple of price monitoring extensions here today and a 30% rise.........good to see some movement finally in this dog
cheap below 10p imv
Good news on farm sale, now we should see the books look a lot healthier (or rather the statements). when they report, about a month later than usual....
indeed
Brilliant. This clearly demonstrates the bizarre nature of investing.
Zam have now received US$10m for the sale of Sinazongwe. And yet the whole company is only valued at c£14m.
Rerating must be due soon.
Think you spoke too soon ... $10mm in the bank from disposing of small part of the overall business and the company is only valued at £13m. I trebled the position in my 'punting' portfolio a few days ago at 4.4p and can't get any quotes right now ... I suspect this will be 6p+ at the close today
Its 10:16 am in Zambia and today is completion date for the farm sale. No RNS yet so perhaps at close of business?
The proceeds will be going to reduce net debt of $56m at 2018 Y/E. Crazy low sp capitalising the Co at just £13m backed by shareholder funds of 66p.
Operating profit of £13m puts the trailing pe at 1x earnings, cant remember one as low as that. Debt at 23% of shareholders funds is high but manageable.
Don't make sense but not a lot does these days. You have to think a massive rerate is long overdue but the virus impacts on trade and currencies is holding everything back. Zambia has one of the lowest infection rates in Africa at just 76 and no deaths as of today. Gotta be the low surely but what's holding me back is the mrkts down on agri / retail stocks and the horrible mrkt sentiment. That needs to change before pis return to risk assets especially in far off climes.
Ah, rest easy..........a good RNS today. Delay is from their side but payment will be forthcoming in the next fortnight. Let's hope this supports the SP a little
I expected an RNS today - 7th April is the deadline for the farm sale?
No. The deal has been delayed until at least 7th April according to the recent RNS
just rechecked the dates - completion is supposed to be 15th March or before. If banks/lawyers in Zambia don't work on Sat/Sun, then this should be cash in the bank tomorrow??
I would still say that this one of the safer companies out there in terms of not going bankrupt. People will always need food after all. I may consider buying back in once the recession is over.