Member Info for CJ66

I don't quite agree, if you look at their history they have expanded hugely from a very small Malaysian plantation. Many of the current sites are new, from proceeds of selling the Australian cattle business. As young they don't need replanting and most of the excess land is non plantable for various reasons.
AEP actually has a much slower plantting expansion record and is very conservative with a 51% controlling shareholder.
I love both companies and have held both over 25 years buying mpe (or Rowe Evans as was then) for 47p and aep for about the same - with no intention of selling!!

Needs patience but they have previously come up with excellent deals. The share price always seems to lag but is dramatically up over 10 years. A tuck away especially as it makes money from managing others capital invested rather than being a straight property company.
This has never been understood in my view.

...bad luck for those who tendered them away....!

Agree it looks good and also in a good/bad way the conflict was short and decisive, when early on people were talking of 1st world war type of conflict with old weapons, trenches and fortified positions - pundits fortunately proved wrong yet again!
Gladly their staff should soon return and medium term they have also got back 2 license areas of further opportunity to help them make their wish of becoming a medium sized (over 100k oz) producer.
Although some were sceptical I always liked the Conroy deal as a cheap safer area of operation - and that they already had a team meaning that providing expertise and assistance was more the way than distraction from the main operation.
4th Quarter may be slightly disappointing as with the RNS of slightly lower than forecast guidance, but medium term both the operation and gold outlook seem promising.
As a ps the FT says gold may slide due to good news of the vaccine, but I don't think this will vastly affect outlook with such low interest rates etc.

Also agree, but as a small company with little institutional holding plus little coverage as everybody is obsessed with Covid & the US election it may take a little time to sink in. However I would expect a gentle valley on the share price chart back up to £1.50 as long as gold stays above $1800.
At least we can hopefully start concentrating on gold production and exploration progress again!

Whatever the overlaying issues, an FT report says Azerbaijan have gained circa 1500km of the flatter southern occupied area and are some 65km away from the crucial Lachin Pass that is a main supply artery to Nagorno.
Although the more mountainous areas and the winter may force a slowdown and thus perhaps a settlement - it's clear the force is with Azerbaijan.
It seems articles mainly blame the Armenian populist president of saying he will talk and then more recently claiming both the Nagorno and surrounding areas to now be Armenian. Military experts say this was a severe miscalculation when Azerbaijan was looking for an excuse to retrieve it's land and had spent around $24bn compared to circa $5bn by Armenia, who have been caught out by still looking at old fashioned tank, artillery and fortifications as key.
I'm no fan of this or any other war, but the odds favouring Azerbaijan have probably been quite a key factor in stopping the shares sliding far more.
I'm sure we all look forward to hopefully concentrating on Gold production rather than creating dangerous future tensions.

Reasonable update today with recent pent up sales of 24% above last year helping offset 8 weeks of nothing.
In a decent financial position, but faces certain costs and constraints including enough carpet fitters and just note that it cannot pay a dividend until Government borrowing is paid back.
Looks ok and safe for the medium / long term, but it's still too early to pop champagne corks - I've been waiting over 3 weeks for the carpet stock to come in before even thinking about the fitters....!

Hi Genghis - does seemed to have worked - I did the same, selling (just after ex divi) and offering to buy back cheaper.
I was worried about dilution but have got them all back + a few extra with the profits.
Only a few pounds, but useful crumbs for the small guys...!!
I don't know if they did this on purpose to raise more shares, but it seems to have worked with the oversubscription.

...just to be clear (ex dividend date / record date) I believe the buyer does not get the dividend on the 'ex dividend date' - a seller would. i.e. today is too late....!

mmm...sudnal a contrarian point for which I do agree in a small part,
however I would never like to think of the muddy water types as 'good' guys in any way, not least by the methods they use - the unnecessary harm they did by targeting a company in this fashion is unwarranted.
i.e. if they ****ged off every company I owned to 1/3 it's share price I wouldn't be to happy - but I would be broke !!

Your right...unless there is something we don't know about they have actually gone down by about 15% from this time a year ago. Gold up 27% and mostly through to the bottom line.
I know they have a little to catch up from a meteoric 2 years - but they are now a pretty well established cash paying, good track record company pretty straight talking and with plenty of genuine medium term exploration potential.
Results soon - so the only thing I can do is buy a few more and wait - gold is surely better than service or consumer companies !?!

Hi adv11
to make my point simple - if you have an all in total of 100 shares and £10 profit = 10p eps
they then give you in all a total another 100 'free' shares you now have 200 shares but still only have £10 profit = 5p eps.
So you have double the shares but in essence half the value x2
If next year you make a doubled £20 profit it is still the same split 20p / 10p eps
and if they paid out the same total £ value of dividends it would be 2 to 1 (i.e. you get the same)
If they kept the cash and didn't issue all these shares it would all still be the same overall total value of company and shareholder split.
To my mind a Tommy Cooper conjuring trick - and pointed out as so by the IC a couple of weeks ago as various companies are using it to show a nice warming feeling for investors without actually providing any benefit - "Just like that!!"

Hi adv11 - Nelson probably means the dividend that is not a dividend!
The scrip issue is an illusion and waste of time - basically they are offering you more shares that in turn increases the number in issue and dilutes your holding = a zero sum game.
It also triggers me as I like to hold a round number of shares - just a personal thing....
Like the company, but lets have real cash next time

...in some ways should we really care - the value is still there in the cash held & production price potential of the company - it's still dirt cheap
& the wait for money has perhaps shaken out the short term speculators talking of 10p+ dividends etc.
They have always been over careful with announcements of dividends, production etc...so sell if you wish too...!

..absolutely OLI12 - they have to notify each time whatever the size of purchase - and they only seem interested to take large (institutional) size stakes. Also agree they haven't built up this stake and had a takeover go already to just walk away - it's a matter of shareholders holding out as long as possible until a reasonable offer (£10+ ?) is made.
It could do with an increase in the CPO price to really lift profits to show the NAV better.
I think their huge efforts to secure 3rd party crop, although lower margin is a good move short term for the interim's.
I really like the fact that the management have already shown they will fight hard for shareholders and not roll over on the first offer as some companies I have held have done!

...haven't seen the RNS about the extra KLK shares yet,
and the shareholders will decide what price the company is taken over at....

...on a pro active investors clip a few months ago, Bill Morgan was raving about a 15% increase to $1500 an ounce being incredibly positive - somewhat behind the curve when the share price was 130p a year ago!
It seems an actual small producer benefitting materially against more speculative minors who have prospects but no guarantee of the price when the gold arrives - however I'll stick with the bird in the hand (+dividend) even though others will have done better!

This is probably largely Malaysia rather than Indonesia.
AEP have a plantation in Cenderung Malaysia (with all the rest in Indonesia) and for years it has been marginally profitable or loss making with due comment every year that they can't get the workers. They have never even finished planting it all up.

...agree busy sounds a poor excuse, however I was a fool for buying these at around 30p some 20 years ago - but a fool for not buying more.
As a ps the spread illustrated is often far wider than you should be able to actually buy them for from the market makers, as the actual prices actioned shows.

I think you need to see the other side of the coin as well - when the increased offer lapsed, KLK had picked up just 13.2%.
This shows people voted with their feet - and not just the institutions.
I think there is some way to run yet and KLK will want to get to that 29% before they can have much assurance of the same happening again.
KLK is a rather ugly behemoth and has been cited for rainforest destruction, landgrabbing and child labour + it made a right mess up with Equatorial palm oil.
I would prefer it to keep a stake in MPE and watch how good management can work.
Interestingly, although KLK blocked the buy back, they did not appear to vote against any of the other resolutions.