Member Info for CJ66

Remember that with a 15% increase on the price on 35% more CPO produced,
this will have an exponential impact on profits with the relatively fixed cost base.
Looking at the trade volumes KLK doesn't appear to have made any recent major purchases and may now have missed the cheap opportunity boat.
Full marks also to the board for carrying on with small share buy backs to stop the price falling to a silly level for KLK to pick up more on the cheap as well.

Just to add that a good thing is that AAZ were quite conservative at basing their financial guidance on a gold price of $1480,
which despite all the ups and downs of gold currently, is currently well above their base figure used.
A company that should also still be able to pay a decent dividend this year...I need that as a retired fossil !

The big question for me is that - there is no question the whole hospitality sector has been savaged badly and pubs will likely be the last to emerge as social distancing is less than helpful for a social place.
Such massive debts on top of already loaded up debt must mean that MARS is virtually a zombie company - will they have to do an enormous rights issue (presumably the larger it is the larger the discount to current share price) which almost wipes us out. Then they may consolidate the shares at say 10 to 1 to effectively get back to the price they were before say 12p becoming £1.20?
I hope not, but I am wondering the longer this goes on.....views?

As Raptor says they should pay the dividend according to however much comes in re the 90% level - this may mean it going down for a while, but as it develops. Why do this in advance?
People seem happy to thump or ignore the importance of shareholder income needs - from private individuals to pension funds etc.
I admit I quickly sold my Lloyds shares when the government rather than the shareholders (who own the company) decided to cancel bank and insurance companies dividends for the foreseeable future, without relying on any management ability to decide for themselves or shareholders.

Legs taken away from under them - dividend cancelled for the foreseeable future, and a very pessimistic picture of business - sales, rent & rates etc.
Not unrealistic, but makes you think it's time to pop your slippers on and go up to bed instead !

It's stores were deemed essential and have stayed open + the feeds business also operates - which means it is reasonably isolated.
My only problem is that as Oogle points out the management have done a pretty poor job in comparison with it's nearest counterparts Carr's and NWF. I have owned all three for many years and Wynnstays share price and dividend are about 1/10th of the other 2.
They should however easily outperform most of my other shares by accident of the industry they are in over this year at least!

Not sure about packed cruises down the Rhine this year - but Duke does have a low cost structure and spread over a wide variety of companies bodes well against a drop of over half to it's share price which looks overdone, as it could recover more quickly than most business areas.
It paid it's last quarterly dividend, and was reasonably open & honest about it being effected, but looking to pay a proportion of whatever it did receive and not only stressed it's financial strength, but it's ability to help the companies as necessary - which I think is a real plus of not owning a share stake, but having an open financial stakeholding.
Next dividend update is only due mid june, so may drift about for a while, but could look like an amazing steal in 1 or 2 years time for the patient. (only proviso is I have faith in the management and the royalty concept, but no crystal ball !)

Out of interest I did see a small piece in the Telegraph stating that a group is looking at a litigation funder to chase Hiscox.
Have no idea which 'litigation funder' they are talking to - but it does illustrate that already the Coronavirus may well open up more legal work.

There is your answer Steve...good news - new lease and 19m Euro sale giving useful cash firepower in this climate,
and they go down 1.5p!
Even Simon Thompson of IC seems unable to get this one going,
but over the years Ben Habib has come up with loads of canny deals, but the share price, although rising well over time, has always remained at a miserly level.
Definitely one for the patient with a reasonable dividend.
I do think people misunderstand this as a standard property company and NAV,
whereas it is in fact a hybrid, earning money from rents & property deals, but also having the management arm which makes money all the time and helps leverage its potential by using others money.

It was open for 21 days - but the timing is probably mucked up by their not being able to get consent to the list of shareholders as part of the boards attempt to repel them, so they haven't posted any actual documents.
However in Harwoods rather shirty frustrated response on the 23rd they said they would 'in the meantime continue to seek to acquire further Fulcrum shares either on or off market'.
This is probably why the price is already above the 26.25p they wanted to grab them for.
Hopefully institutions and private investors will hold on and continue to push them higher....

Also here they still have that as an asset value, so even if they walk away it shouldn't fall far......as it's already at half that,
whereas it's usually a big bid premium....

Agree with the fundamentals....but any update from the RNS 24th March - which says all operations being shut down due to SA Covid 19.
This can only mean that any commodity prices are currently of no use, and the cash will slowly be being reduced.

5m sold at just under 29p and 70k bought at 32-33p,
so look like buys and sells - so share price goes up 1.5p = market makers explain!!

I agree with this except watch for after an initial recovery - Mars has already been badly effected and it's customers are unlikely to suddenly return 100%.
The dividend monies have disappeared and already high debts could result in a highly dilutive rights issue to avoid it becoming a Zombie.
I'm still in the shares as they have dropped so far - but I would just temper the huge relief recovery here....!

RNS of Virgin in voluntary administration today says 11 ATR 72's (with 2 sub leased) & 2 Fokker F100's,
so a sizeable number for a potentially detrimental effect.
Although this step is a defensive mechanism and means it can be sold to somebody else etc.
it does also mean that it's also designed to stop money leaving the company.
Personally I think ST was a bit optimistic about being so positive as a recovery play yet.
Airlines and their servicers are in sizeable trouble as their industry has virtually stopped, and the state of them like pubs and holiday companies mean that financial support, rights issues etc have all got to be taken into the mix - basically they will emerge reliant on others to bail them out.
Avation is in a good financial position but I wouldn't expect business as usual or a takeover at a normal price in the short or medium term, even when the lockdown ends.

Surprising no trades at all today, but that bodes well.
They still only have just under 10% and remember they can collect up to 29.9% before they are forced to make a bid,
and the 75% compulsory takeover, or even 51%+ to take full control seem a long way away into the distance at present.
Hold on and they have to wait for ages or offer a good deal more....

This must be about the unluckiest share on the market...having been scuppered by events in Ukraine just after having taken on a big euro loan, it was recovering nicely through the skimmed milk price rise.
Now Covid 19 has meant the price of skimmed milk has now plunged by 40% in a couple of months.
I suppose at least being a food product it will be able to carrying on producing, but the cash position is still fairly precarious. Surely it's luck must change one day...

Well, I'm not joining any thick people either - but this is cleverly opportunistic for Harwood to test the thesis,especially as institutions as well as private investors often don't think to far ahead.
Clearly being timed for the current crisis & as the Directors point out, before Fulcrum receives all the money to eliminate debt and pay back a substantial amount to shareholders over the next 2 years.

Rise largely due to it finding an alternative way to ship the recently stockpiled gold to the refiners.
Re answer to your question - no crystal ball here, but it's output is set to be similar to last year, so its likely it will bobble up and down according to the gold price, perhaps in the 90p to £1.40 range.
In the background however is plenty of future upside exploration potential, so it should provide a decent floor and longer term potential.
Also AAZ is a very low cost producer providing further resilience. All in all it its a great share for resilience, dividends and counter to most other investments as a way of holding gold + get an income return.

The company has said in the RNS that these are all basically for the company.
7.5m for an employee scheme being set up & 7.1m for '...bonus share awards already granted to directors & senior mgt but not yet vested...'
These were all at the dreaded 'nil' price at exercise and 'our fault' as approved at the AGM.
So basically yes - a waste of money in terms of no help to shareholders and confirmation that share awards should never be granted at 'nil' cost....