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It's really good news. As you predicted the price has ticked up. It should be a fairly straightforward build as all the services are there already. They wouldn't have sought planning unless they had all the tenants earmarked so this will be good. Its guesswork on my part but I wouldn't be surprised if M&S is involved. They seem to like these types of development and we are doing something with them in one of the other locations. Hopefully we'll get a decision on Llandudno Junction (isn't that the other one where a planning application was made) soon also.
I don't know their plans but I suspect Robert Ware would tell you if you called or emailed him. He is as open as he can be in my experience. They don't need to reduce the capital to fund the development projects so it can only be a mechanism to buy back shares and return value to shareholders. The Board has been buying back shares for several years now which makes me think they must be pretty bullish about the company's medium term prospects. I think they have been buying up to about £1.70 per share in the past. As I say, I don't know the specific reasons but I would have every confidence in the Board to look after their shareholders. I just want them to get a wriggle on and secure planning consent for the Haverfordwest, Cross Hands and Llandudno Junction projects. If they announce that and who the headline tenants are we should get some upward movement in value. A new tenant at the large site in Bracknell (I think its Bracknell) would be good too. I think the other stuff is much longer term but could be very big. My gut feel, and that's all it is, is that the waterfront projects will take years to materialise as the planning process seems incredibly slow and the locals don't seem to want them. The Anglessey investment is a bet on Wyllfa and one has to ask whether that will happen within the next 5 years - look at the problems with Hinckley and Brexit will impact Japan's view of this. Re the residential plots at Haverfordwest, they have a value but I don;'t see them being developed without the commercial site being built first. Also the developers have the whip hand at the moment. I'm still positive. I like this share and see it as a solid long term bet. My hope is that the value will double in the next 3 years but lots of water to go under the bridge. Your thoughts ?
By capital reduction are you referring tot he share buyback programme or did I miss something ? I just really like the fundamentals with this company. It feels very solid due tot he quality of management and the small debt. To date, its not been very exciting but it has potential to be if they get some of the development projects off the ground. Its been really slow at Haverfordwest, etc but they now seem to be nearing a workable planning consent, and I'm sure they would not have made the applications without knowing in advance who the tenants are. Re SP, all property stocks have been hit by Brexit worries. Who knows how that will pan out medium term. If they have some good news on the planning applications I see this heading towards £2. the better news would be some material progress regarding the nuclear power plant on Anglessey. That would be a game changer as '000s of staff will need to accomodated and kit stored. CIC has a load of and that is perfect for the job. This is a stock I hold and don't worry about. I think it'll be good. Robert Ware, the CEO, takes his responsibilities to his investors very seriously, he has always responded to my emails, and I'm confident as long as he is at the helm.
Thought you deserved some company. I've held this stock for several years and its now one of my largest holdings as I've added over the years. I rate the management team and there seems little downside as the gearing is so low. the rental income is solid and covers the overhead cost, development project costs and dividend. Property has been unpopular since Brexit but the fundamentals here are pretty good. The exciting news would be something concrete Wyllfa nuclear plant. As and when that happens this should take off. for now I'm happy to hold and hope for a price of £2.50plus in a couple of years. The only negative for this company, in my opinion, has been the slowness to get projects approved and commenced. The development projects really are a great example of how hard it is for developers to get stuff done. Hopefully Haverfordwest and Llandudno Junction will break that trend.
Great to see the SP ticking up at last. I first bought these at 1.19 but have bought steadily since and its now looking good. I don't think the Haverfordwest decision is priced in so that should give the SP a boost assuming its positive. Work at Parc Cybi seems to be rumbling along too. Looking forward to some news in the next 2 or 3 months that might move us along nicely. Very good management team in here.
When the CEO is leading a management buy out it has to be aabout the best indication you can finds that a company is seriously undervalued. Once all the cash from the Lancasters is through NTA will be sat on £30M+. You could fund an acquisition up to about £1.20 per share from the company's own cash ! It means you'd pick up the company for zero cost and have Vicarage Gate management fees and profit share to look forward to. I reckon a fair price would be int he region of £1.50. anywhere close to that and I'd take it. This is all coming to a head because the Board have said they will soon pay a dividend. Any potential new owner will want to conclude a deal before that happens. What were people expecting by way of Dividend, I had about 20p in mind ?
How can anyone try and present this as good news. If I have shares in company and I think the value will appreciate I keep them. This director of SNRP has chosen to sell shares now. What does it say about his thoughts for the short term share price performance at SNRP ? Yes, Nicholson bought a paltry number of shares the other week (I can't imagine that £26k scratches the surface of his wealth after a long career in the oil industry) yet el sells 3.1M. It's put me off investing more here. I like this company and their resources but try as I may I really can't interpret this positvely. Perhaps I'm missing something.
Dreadful RNS that one would expect will lead to a loss of credibility for management in my opinion. We see a great long string of videos only weeks ago saying how well things are going and within weeks they have missed their first important milestone. It's a useful reminder of just how risky these young mining stocks are and that you have to tread carefully when interpreting management 'spin'. It doesn't matter how much coal there is in the ground or how little of the concession has been drilled if the company can't organise themselves to mine it to schedule. I was expecting big things from SNRP in 2013, been in here for a couple of years. It may still happen but now having second thoughts. Hopefully they'll get their operational performance up to the same standard as their PR in short order.
I've held this share for a couple of years and I'm very pleased with it. I'm tempted to top up, despite the recent rise we've seen. I have a few other decent miners but the beauty of SNRP is that they've done the hard bit and reached production. I think I'm persuading myself. There should be decent newsflow over the next month or so. I would assume the first shipment is already priced in. Much better would be conclusion of funding.
I'm very happy to hold this share and have just added in the last week. The senior team is first class and with a good track record. They've bided their time before making their application and hopefully they are in good shape. Leaving Haverfordwest to one side, this is a profitable company with tiny debt and great development potential that is likely to deliver value over the next 5 years plus. As the number of shares in issue continues to fall and the assets are converted to improved value this should do well. That's my hope anyway. I'm going to hold for the long term.
True but PSN are in a rather healthier financial state than NTA. Trust me, I hope you are right. A nice special divi, 25 or 35p, would be great. They've been bitter before though through not having enough cash to fund themselves so I would expect them to be unlikely to release cash. We may get asmall divi however. Better they keep the cash in the company in order to buy in to future projects in the way that the Lancs started out. W'll see. There must be news coming very soon given rises in the last two days. I think they gave a trading statement in Fe last year but haven't done so this. I wonder whether we might see something later this week ? It would be nice, especuially if it removes some uncertainty about cash flows and timings from The Lancs.
I haven't posted on here for ages. I have held this stock for 18 months and it's been great for me. Was lucky enough to get some profits out in the 130s and 140s early last year. On the face of it the profits from Lancasters should be very good. My only concerns are when those profits will be released (look at the appalling short term funding deal NTA had to do to meet working capital requirements) and whether the oweners of the site will put up some resistance. I hope the deal is clear cut and they are planning to pay what is due. Assuming things are as they seem, we should see a good rise and I have read elsewhere there is talk of a special divi. That seems like aremote possibility to me, whty would NTA release funds they could keep on the balance sheet for future application, but we'll see. I'm holding and hopeful we'll see an encouraging update very soon. there can only 5 or 6 aprtments at The Lancs left to sell.
Massive dilution - we now own less than 12% of GXY !
We've just been diluted I suspect ! I'm sure it's good news for Galaxy in the long run and we might make some money from our stake there but it's likely to be long term. Together with the disappointing RNS on Tenth Legion earlier this week I suspect we are in for a period of silence. The Tenth Legion RNS was far from what was needed. It leaves us with no ea of whether what they have found is in line with eexpectations or not, and far less whether it is viable. This company behaves like a small puppet of the Creat Group and don't seem to feel the need to communicate any more than the minimum. Frustrating, but you have to learn from these mistakes. Fortunately it's not been too expensive.
I suppose we are completely in the dark about how long this period could be ? I hope they aren't placing a lot of shares at a discount to the SP. That wouldn't be good Izzy.
Interesting comments. Is today's RNS good news ? Do we have a sense of what is required to make the project viable ? I found it hard reading the RNS to determine whether there is enough there for it to be worthwhile. Our SP is entirely built upon GXY value - I'll just hope they get a move back towards $2 there. They should have good news soon as the new facilities come on line. Isn't that huge processing plant about to open ? Bassett
I'm always happy to admit my own mistakes and investing in CRHL was one such mistake. I was attracted by the low liquidity, but underestimated the fact that we PIs are just passengers in thsi one. I should have learnt from my investment in Altona. As soon as the chinese get involved everything seems to slwo down and communication goes out the window. Take this morning's announcement, there is nothing from the company to add colour/context. Compare it to other miners, such BAO who always give an interpretation for you, and it's no surprise that the markets choose to interpret the results negatively. The lession I take from this experience is not to invest in companies that are effectively subsidiaries of chinese holding companies. PIs are always pawns in the game but in companies such as this even more so, or so it seems. For what it's worth, I'll continue to hold and hope to get my money back. When I do I'll probably drop it into NRRP. Do others share the same frustrations ? with this news out and no movement in SP, it's probably going to be along haul to get back to 6.5pish and totally dependent on Galaxy. Bassett
Thanks for the update. Cheers.
I'm new to CAD and wondered if there was a summary I could read somewhere. What's the next milestone ? Thanks all
Buried in the detail of the MNR statement is some very good news for NTA holders re The Lancasters. You need to dig deep but if you do so you can see just how substantial the NTA share of profits from Lancs will be. Take a look at the EPRA NAV calculation and the movement over the last 12 months in MNRs share of the surplus on trading properties. On the back of my my fag packet I reckon today''s MNR news adds about 35p to NTA's NAV, and a lot more still to come. Any retrace and I'll be topping up although I don't expect us to see full value until late summer. All IMHO and DYOR