RE: MORE LARGE SELLSToday 09:07
CC,
Important to do plenty of research, especially when large sums involved. Meeting company board members is important, easier to get access to AIM but also possible with FTSE players too. I've met most of the CEOs of the HBs I'm invested in, whether that's personally or part of an investor group. Important to see that body language when you ask the probing questions. Obviously won't get inside info unless you want to go inside but I believe it's essential if you're heavily invested and have tenure as a shareholder. They also want to understand the PI base as fundraising is obviously part of the game.
Our Casper ? I believe I have a good handle on the current opportunity but obviously aware of the risks to and there are several, the biggest ones currently are increasing liabilities and cash generation, the 23 accounts will show that. We also have reducing revenue from MJF and a slight reduction in net profitability. There are also other risks outside of the geopolitical ones and that's why it's important meet the players running the show.
Bigger picture ? Getting the cash out of Kaz as tax efficiently as possible. I don't believe they ever get to becoming a large oil producer, they're not skilled enough, history has shown us that. They are going to prove up if poss and punt the assets. The business will continue and more assets will be inserted into the Casper shell and the cycle will continue . They need big bucks to deliver the FDP, all the infrastructure costs etc, they were never going to go there or should I say, not now. They have an aging board, KO in his 60s, Shin probably moving on to KNOC at some juncture but maybe the link to adding more KNOC disposals at some point.
Are they going to bin Casper ? nope. Could they bin BNG ? very possibly. They're not ever going to be a big OE company but I do believe they'll become profitable asset flippers. They'll continue the family lifestyle business by adding in those new assets and continuing the rinse/repeat cycle. Their first payday could be on the horizon with BNG and that alone transforms the landscape.
As to Benny or Midiel, Al Marris and other key shareholders, that's an interesting story too ;)