Member Info for CJ66

True, directors here have a big interest in the shares and they have not issued millions of shares like some mining companies do.

When the company was in some financial trouble the ceo put around £1m of his own money instead of diluting.

The growth is deserved from pure growth + potential - geopolitical risk and commodity price risk.

Looks fairly priced in my view without any evidence of RNS stake building or conspiracy whispers.

....as an oldie I have suffered even longer, probably around 15 years! They steadily climbed then plateaued, and subsequently fallen to the current position.

I have also held because of the fantastic value to NAV, and also welcome the divi reinstatement. Just hope someday, somebody will realise they need to boost UK shares as the country 's wealth slips into foreign held ransom. This week Segro (Used to work for them, procurement, largest UK industry property company), Easyjet, Ramsdens (yes the 2nd of our pawnbroking industry - seriously?) etc.

Even our local huge flour mill that operates 24 hours supplying nearly 10% of the country's bread flour has fallen into foreign hands. Although a private company it is still our food security and profits going - just the actual jobs and name remain.

Out of principal I have only ever invested in UK shares, and probably paid for it, but one day perhaps.....!?!

Almost certainly agree Silver and these used to trade around 45p with largely the same NAV.

However the 1 danger is Peter Gyllenhammer has quietly built up a 29% stake. Habib who is really the company has 17% and I believe his family also hold various amounts. If he gets bored or wants out they could easily form a concert party to do some slimy deal.

Put it this way PG from previous deals doesn't look out for other shareholders - his wallet only is the priority over fairness or charity!

I hope I'm wrong as I have held a number here for years - but we need some more deals and more shareholder interest - a few more bricks & mortar and less space and data centres....!!

I think that's right - they were fabulously incompetent to run a business rather than fraudulant. However those £1/2m of bonuses not voted on should be returned!

I also don't entirely blame ST or myself - unless you go to AGM's etc you can only go on figures given - and they were very wrong....

....interestingly it did also point out that RFX has a high % of private investors and low institutional holdings meaning we have a greater say than in many instances where the greedy boys take the easy no thought route.

(ps sorry about previous spelling errors!)

Interesting that IC says reject the offer as it's too cheap. On similar growth profiles FirstCash is on an enterprise value multiple of 20 vs Ramsdens 7 meaning they can afford to pay far more as it will be hugely earnings accretive to their business (whether you view FC as overpriced or RFX as underpriced).

H&T who they took out was 10 meaning they paid 30% more. Ramsden also a lack of gering and return on equity averaging over 20% from 2021.

All in all I'm with Fincent - I want a long term investment in a very sound business that is likely to flourish in it's known environment paying decent dividends.

I think H&T would be double the take out price if investors had viewed this the same patient way - sorry but to me - a bird in the bush is worth 2to the cash in hand!

Agree, we knew they had a good idea, but the execution was useless - now we have the good idea left and far greater hope through Harworth experience that the execution will be better = a speculative buy for me too!

Disgusted however when the 2 former managers took the extra discretionary bonus of £1/2m for good work - and as per usual don't pay it back, giving the stock market a bad name again. Conned me of my money I won't get back so easily....

...I think that confirms it - it fell on a couple of gold price down days and has now climbed well today on a gold good day.

Just be aware this seems a little bit of a proxy of the gold price and as such is likely to act a bit like a commodity stock that tends to rise and fall on the commodities price. The pawn broking & currency part of the business seem along with the ride!

...I'm afraid this share is what's called a value trap.

It can't generate enough income to prpel it to profits above it's debt costs. Any development to create value 1st causes more debt and cost.

The result is they are trying to sell properties to reduce debt - which yes, you've guessed, decreases it's profit.

It's in a sad state, and because our commercial environment is so bad now in this country, they have failed to find any way out. Somebody one day may buy it out, but it doesn't offer much of interest. Basically it's as likely to take off as a plane is at the airport....!

Totally agree, rubbish offer and we don't want them with any form of control - very unsavoury and hopefully majority will keep their hands in their pockets.

Another example though of the various govt's ineptitude to prevent our industry and wealth being hollowed out by chancers all over the world...

If correct, and I have no reason to doubt your logic, it looks like another reason our aim market needs a material boost from our seemingly ignorant governments as the countrys wealth gets hollowed out.

Hopefully CAML will catch it's fish this time and buck the trend.

(As an eg I currently have property company AIRE with a net asset value of 84p & high consistent dividend - with an outside bid offer being made at 70p - a joke that may become true!)

Yes, not panicking yet - they have a 35 year track record of the same or increased dividends and have managed many geopolitical matters over that time.

You could panic - sell - buy Space x shares instead, but I know what I will do!

....falling gold price responsible I think you will find - it is that which has driven much of the stellar growth over the last couple of years.

Not sure which way gold is forecast to go from here - need the crystal ball specialists to enlighten on that please!

Many years back they did some very astute deals and also had a good structure with some direct property ownership + ongoing fees with leveraged funds providing steady income.

Suddenly went to sleep and haven't done anything much for years - a sleeping beauty if somebody could only give them a kiss, even a frog would probably do with the discount to book asset value they have.

I'm afraid your right. i have a vintage car, I get some money to keep it up and spend petrol on it, but it's not really going up in value, it's just the nostalgia.

This may have a dead cat bounce with such a low price, but I just can't see where the growth and margin profitability is coming from.

It always used to have a decent cash buffer.

Like my car, for some reason I will keep my current shares but will seek a doubling of a share price or dividend somewhere else.

With so many new shares it will have to pedal that much harder just to earn the same eps, and pay that much more for the same dividend level.

British shares are hollowed out.....shame!

Agree, but the real question is - will british based industries ever get back their favourable conditions to thrive.

From Churchill china struggling to keep profits up whilst enacting all sorts of cost savings and innovation to Michelmersh brick closing its 139 year old Charnwood plant just to keep still on costs and margins.

Agree on the surface it's a £1 plate for 50p, but is the plate made of china or plastic?!

Real shame foe UK industry.

I agree with gibdog, it's better that they book future projects because they have the time limited cash producers now, and often projects need funds to progress. The price may seem a little high, but thats because CAML's share price is so low - you can't win always around, but the management have been pretty careful and sound to my mind over the years, For instance they have paid out to shareholders twice the amount that they floated at, and not many minnow miners manage that.

Just hope no gatecrashers this time - please!

Some time back they sold a consulting arm of the business with promises of £8-10m cash sums if it hit certain targets following the sale. None were hit and these sums were then written off in the accounts pretty shortly afterwards, and I seem to remember after they had received bonuses for the good work.

They have also consistently won jobs and then failed to deliver the profit, indicating a mis-pricing or lack of experience of how to fully account for all the costs. This resulted in various exceptionals that appear in results, combined with a general lack of clarifying why they were happening, so sapping investor confidence that they had a firm grip on what seemed a very promising potential business.

In short I believe many who have followed the company for a while would put a share price on it of around 15p if they were sitting on the profits generated and the cash receipts indicated.....yet alone some contrition for the various 'disappointments' that seemed to re occur. ..

I'm certainly pleased with the redirection and have kept my holding, but admit I wouldn't have invested in the 1st place if I had known more about the management - you always live and learn!

As said before I think they will need at least a couple of years of strong positive results.

Remember that this cleared out bunch of directors have cost the company a huge amount of money and goodwill, and lost a lot of shareholders money too, that takes time to repair and restore confidence that the business model of costs & margins is in fact sound.

The potential is there, and positive action at last being taken, but still plenty of risk as a buy currently.

Still find it interesting that a historically hugely profitable company with a pe of under 10. with cash of around 25% of it's market value is so spooked.

US companies losing big money trading on massive prices, (don't even mention space x) with a president that is increasing the geopolitical risk massively....

As I bought AEP at under 50p some 30 years ago, I will carry on holding, taking dividends and wondering, despite missing out on the big US companies I don't really understand. I just find it interesting!?!