Member Info for Bismarck

Seplat is my largest holding by far so I'm no stranger to investing in Nigeria. The current government has certainly been good for Seplat in clearing a path for their transformational MPNU deal to happen. Hopefully that deal will be concluded and their SP rerate in the next couple of months and before THX SP rerates, so I can take profits and buy in more here!

I guess they're betting it will drop back down to a tenner a share. Good luck with that one with an upward trending gas price and Trump inbound......!

I've not been invested for some months now. I sold the last of my holding in September after concluding that the SP would not rerate anytime soon. A combination of India, AIM and coal no doubt making the company unattractive to most.

I just happened to check the SP today and was quite shocked at first, but as Hazbeen has just pointed out I guess corruption is still rife in India so this sort of thing is to be expected. I certainly feel no urge to pile in now and hoover up cheap shares. GLA.

I researched this on Stocko after Playboy mentioned the company on another board, thanks Playboy. I know some here think their numbers for THX may be conservative but they are compelling nevertheless -

12m forecast rolling P/E 1.6

Price to book 0.8

Total revenue 2023 $141m, 2024E $210m, 2025E $233m

Net profit 2023 $10.9m, 2024E $66.3m, 2025E $83.1m

Net debt has fallen like a stone and now gone

Why is the share so cheap? Well I guess any combination which includes AIM, Africa and mining is going to be viewed as risky. Some companies can and do thrive though and this certainly looks like one of them. Very hard to understand why the SP is where it is.

I'd be inclined to buy a few more but that means selling something else....

After 3 days of trying to dip the toe in the water I finally got an order for 100K executed today!

Reading the article in full it appears the Russian LNG order may have just been a one off stunt with someone trying their luck....and failing because the shipment was refused.

"The cargo was destined for Brunsbuttel and someone tried its luck and it seems wanted to check how Berlin would react," an industry source told Reuters, adding that this is "a bit of political PR stunt".

The Germans are now clamping down on Russian LNG

https://www.maritimeprofessional.com/news/germany-rejects-russian-shipment-399203

"It should never have gotten here with a competent set of directors"

Correct. But Hummingbird never had that luxury.....and yet fools like us failed to see that....at least until we exited at a loss....

Shaun.

This is mining

This is AIM

This is Hummingbird

You made the obvious choice to exit.

What I don't understand is that you appear shocked and surprised at where this has ended?

I cannot possibly add more. I'd love to but 40% of my portfolio in one share is not exactly diversification!

THX does look very appealing, Profitable and with low debt. Forward P/E of 1.6

Not too much liquidity, I've had a buy order for 100K for past 2 days unfulfilled.

On second thoughts, buybacks are often favoured by US investors in particular due to them being more tax efficient than divis as I recall, so that could be another way of returning surplus cash to shareholders. Still, I'm only speculating.

If they maintain anything close to their current revenue and profit margin they'll soon (in a couple of years?) have so much spare cash I think they will surely have no option than to start paying out healthy special divis or buy more ships. I doubt they will increase the core divi rate as anything above 7 or 8% is often seen as a red flag. An annual 10% special would be nice though!

Correction, Thursday

The latest 8.3 is Goldinvestor's according to his posts on Friday

Results for the quarter towards the upper end of analysts forecasts but a 5% drop in SP, LOL! I guess I should admit that I don't understand the stock market!

"Global Ship Lease Inc GSL.N reported quarterly adjusted earnings of $2.45​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of $2.33. The mean expectation of three analysts for the quarter was for earnings of $2.41 per share. Wall Street expected results to range from $2.26 to $2.49 per share.

Revenue fell 0.3% to $174.06 million from a year ago; analysts expected $174.31 million.

Global Ship Lease Inc's reported EPS for the quarter was $2.22​.

The company reported quarterly net income of $78.76 million.

Global Ship Lease Inc shares had fallen by 7.8% this quarter and gained 24.0% so far this year."

Rolls Royce on the other hand are up from 90p to £5.72 in 2 years, pay a 1% divi and have a P/E of 27! Benjamin Graham would be laughing if he could see that I think!

Had I followed Buffet's advice a few years ago and put everything in an S & P 500 tracker I'd have a lot more in the pot than I do currently.

I'm sure the S & P will flourish under Trump. I'm just glad I'm not Ukrainian or Palestinian. I think they are both f@cked now.

BPat was ramping SRB and according to him the SP should have risen to £1 by now

Actually it has increased by 1p since he posted....

BPat890

Posted in: SRB

Posts: 682

Price: 91.00

No Opinion

RE: Up1 Nov 2024 19:23

100p by end of next week at this rate.

Cash flow courtesy of $2,750/oz gold is rising faster than any analyst forecasts

Continued...

under $1000/OZ but I mistakenly believed this mob could make a successful mine out of Kor.

At least I exited 2 months ago with a manageable loss....

It looks like they are/will be about 3 months late in achieving commercial production to save the company from takeover by the bank.

They had one hell of a tail wind with record gold prices this year so they have only themselves to blame. It was theirs to throw away, and that's exactly what they did.

I'm still kicking myself for even contemplating investing in this mob. I actually sold shares in CMCL who are an exceptionally well run miming company to buy in here on the assumption that Kor would be successful. CMCL had an AISC of