Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
http://www.digitallook.com/news/rns/3542457-109526/CLF-Result_of_AGM_and_new_Board_appointments_html
This could explain why this is being held down. Someone is off loading a lot of shares.
Their is a massive sell off today. Wonder who the seller is.
RNS - What a complicated RNS call me dum but I don't anderstand the RNS completely. Will probably have to read through this one 10 times or more. Could you explain whats great about it please, thanks in advance.
Was that you topping up ParanoiaBlue?
Don, hope your right with no more downside to these. Im suprised myself that these are down so low. I suppose until actual production figures are out we wont see anything major.
Out of the 3 gold miners (CRND, CLF, CEY) April last year, all around the same price, CEY have by far done there due. Excellent Management. Just hope CLF Mangement perform as good as CEY. CRND management are cr*p and are pricing the company to go bust and they told lots of lies eg gold reserves etc. Just shows you how important it is to have excellent management. Ok before someone says can't compare companies due to market cap, amount of gold, shares in issue. Yes I know but i was just comparing managment.
If you don't want me to post ones that I think are useful posts by other. Let me know please and I will stop doing so. Don't want to be irritating anyone. Thanks.
This was posted by somone (FifthA advfn board): This is by FifthsA: I work in the market, so I have been able this week to have a meeting with David Wong. I hope that by posting the main points it raises the level of debate on this board as there is a disappointing amount of poor quality postings and immature drivel (you know who you are). DYOR but this is my view. 1. David Wong is one of the most reputable businessmen I have met. When he felt he let investors down in 2006 (unexpectedly high freight costs dented profits) he waived his dividend entitlement. Last year, he and the COO paid themselves no bonus, although every other employee got one. He and his management team are staying at a Novotel in London as it is company money. He took the train from Heathrow, not a cab. I could go on. 2. The company’s auditors are KPMG. 3. The property valuations will be carried out by Jones Lang Lasalle. 4. The reason why the first property acquisition is a Wong interest is because it takes years to develop property, and he wants to show the market as soon as possible that there is money to be made and he knows how to do it. The site is in the equivalent of Regent street in one of China's largest cities, and therefore took years to assemble and develop. Wong believes that the residential element will sell out in a week when it markets in September. 5. There will be no more related party transactions. There will clearly be other deals, but on a specialist basis - this isn't a case of just piling in. 6. Although management say that they are here to explain the strategy to shareholders and they are not frustrated by the share price (they’ve seen worse, after all), it was clear to me that management will buy in shares aggressively at anything like current levels to close the gap with the stated NAV of 280p. 7. He has already turned down an offer for the holding in ACC for $100m. A higher value would obviously boost NAV further. 8. I was wrong in my previous thinking on Liaoning. It was not a put. The vendor didn’t want to be a minority to TCC, as simple as that, and as PMHL was the only one buyer it was bought cheaply. With cement plants trading at an EV of $70m per tonne of productive capacity, the plant is worth perhaps $140m, or £90m. PMHL’s stake is therefore worth £20-25m, so a good deal, but not as valuable as some have suggested. Wong is not a long term holder, I would say. Personally I don't expect a special dividend. I think the plan is to increase NAV, and that's best done by buying in shares at a discount. When the buy-back comes the share price is going to move to a much, much smaller discount to the NAV. I was here just for this move, but having met Wong I will stay in.
Daniel Stewart upgrades Prosperity Minerals after real estate move Thursday, June 03, 2010 by Sergei Balashov Earlier this week, Prosperity Minerals Holdings (AIM:PMHL) announced a new strategic-shift as it unveiled plans to enter the Chinese real estate market. This morning, London-based stockbroker Daniel Stewart & Co issued a note to investors, the broker said it is encouraged by the company’s intentions and strategy to date in real estate. On Tuesday, Prosperity announced the next-step in its development as it continues to diversify its business model after it sold most of its Chinese cement businesses earlier this year for over £385 million. The company is now set to add real estate operations to its new business structure, with the signing of conditional agreements to acquire property interests in the People’s Republic of China (PRC). Daniel Stewart noted the subsequent drop in the company’s share price, which it believes reflects a degree of uncertainty and unfavourable sentiment among some investors. However, whilst the stockbroker acknowledged its previous concerns over the strategy shift, the broker said that Prosperity has now provided the market with a lot more clarity on its new real estate focused strategy. * Prosperity Minerals cement operations should benefit from China’s continued growth According to Daniel Stewart, Prosperity will still have approximately £200m in cash after the real estate deal - about £40m above its current market capitalisation. “In any event, we believe that the discount to cash, implying that the real estate has no - or potentially negative - value is excessive”. In line with its new investment strategy, Prosperity recently established a property development and investment division. The new business has already entered into agreement in relation to two separate property investments - in the Fujian Province in south-east China and in Guangzhou City. The broker noted that Prosperity’s intention to quickly monetize a portion of the Guangzhou property indicates that management wants to prove its credibility in the eyes of shareholders by generating quick cash flow. Furthermore, the broker said it was encouraged that the company did not commit all of its capital at once, and instead has chosen to proceed opportunistically. Also, the stockbroker believes that the company’s share buy-back should commence shortly after Prosperity files year-end statements. “While they could file as late as September, we understand they would like to publish by the end of June or early July. In essence, there should be share price support in as little as four weeks”.
This was posted by czar on the advfn board: DS&Co just issued their updated note, 190p price target, "share buyback to begin in as little as four weeks and given the discount to cash, its likely to be towards the higher end of the allowable amount of shares."
I had a feeling the was no take over, which i must admit Im pleased about. I'm sure that the take over was below potential of Cluff Gold. At least we know now and all can move on. Onwards and up. Why is the price down 8%. Come on investors we knew it would never happen. Mr Cluff is not going to sell something on the cheap that he has worked so hard for. All the best to all and i am looking forward to seeing this share at £1.20 + .
Of course, stupid me. Thank you for pointing that out.
They obviously did not offer enough. All that gold and the price goes down. Im glad it did not get taken over as we will all be better off later. But short term what a bummer.
http://www.digitallook.com/news/rns/3476285-190833/PMHL-Acquisition.html
Some on here and including myself were so cuffed yesturday to pick then up at yesturdays prices and look at it now. If the take over is off then hopefully this price has already sort of been factored in. And as you say ParanoiBlue no real worries, as to its investment potential. Donkiddick who ever cares about shareholders, we are always the last to know and benifit from anything. We get the scraps that are left (well most of the time).
Bunny-honey lol, I like that. Thanks.
I was bored with Jeremy Kyle show, thought i'd go back to this. Managed to buy buy 3000 shares for 78.868. I even thought about buying more today at 83p. Glad i waited. Will buy more in the ISA if it goes down.
Yep, im getting away from the computer to. Im going to watch Jeremy Kyle instead. Ugly day again across the board.
Because he would get 80% of the cash and other holders would get the 20%.