Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Buyers returning at last, waking up to the best bargain in town ie. a desirable spread of international assets , capably managed at around 35% discount. Share split may be helping and a marketing exercise is planned but this is a product that should fly off the shelf.
Change of domicile has pannicked many small holders whose agents are not able to deal.
Given the asset value of 1410p now priced at under 950p for world class assets paying a decent div. this is one of the best situations I can remember in my 50 years of investing-my boots are full11
Shareholders will be happy with another solid set of results. Asset value is up ,rentals well up ,and increased div-now around 1.8% is well covered. Astute management with increasing dollar exposure all at a huge discount to sound property backing makes this a reliable long term core holding.
Unlike the Persimmon board,with the disasterous Fairburn debacle this one has shown real mettle in standing up to their over- greedy CEO.
This epitomises the behaviour of a sound board acting in shareholder interests and very refreshing to see.
More fool the market makers for not realising that this is a positive not negative event.
As always , value will out given time for mature reflection-meanwhile sieze the 0pportunity IMHO.
Like all class outfits these shares look expensive but they are dominant in various growth areas and very well managed.
Current drivers include brick manufacture at Edenhall and water treatment e.g. drainage on smart motorway conversions.
Today's results confirm that competition is being met with stellar performance on all fronts. The economy of using inferior bricks cannot make sense as labour is main building cost. Assets in land underpin shares as does well covered dividend with greatly reduced borrowings.
We were greeted at AGM with news that two directors had bought over a million pounds worth of stock.Presentation by CEO revealed that assets now way above share price underpinning the stock. Rolling out the 8000 house development south of Edinburgh in the main focus backed up by solid income from well established services capabilities.
Recently visited Hitching Post in Bradford and Green Dragon Welton near Hull.Both very busy with excellent food offer and service.
With so many closures elsewhere those that remain have a great opportunity to thrive-people still like the pub experience and Marstons have a well located estate with a superb portfolio of beers.
We must agree to differ Mortevicar. I am also a very long holder and chatted to most of the directors at AGM. It was evident that they all believe that Mark Allen is following the money shrewdly and that the new momentum he and Jamie Hopkins can instill will drive the company to maximise their considerable assets. Their track records speak for themselves and both seemed enthused by the mid term prospects.I respect your view but time will tell.
Rest assured that the conveyor belt of projects in hand will ensure a solid flow of profits - this outfit is positioned to churn out steady growth which may fluctuate according to timing of project completions but optimism unlikely to be unfounded.
I'm with recent comments- this stock is ripe for better times-superb beers,excellent portfolio of properties, well controlled borrowings , asset backed 50%above share price. If this wasn't enough, throw in an 8% dividend and the world cup and summer days approaching which should be positive catalysts.' Mr Market' seems to be presenting us with a bargain.