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I would love to agree titanium, but I'm afraid 'strategic' (+outside consultants) from past company experiences means management have lost the plot = answer is to make it simpler for them by lopping a division off.
If that doesn't work lop a 2nd leg off and or break up the whole business up for sale - usually at a discounted share price as everybody now knows what your doing and its sliding downhill anyway.
I am holding for present, but feel I should probably be hovering over that sell all button!
Hope I'm wrong.... !
...might add I will also vote against all current directors at agm (easy to vote with ii) - I don't want to just sell out at present.
Won't make much difference, but it would if a few more voted likewise....
...for what it's worth I have voted against the disposal - it looks like the typical response from having to pay lots to outside consultants who have to suggest something (rather obvious outcome).
How can they ever know more about your business than the directors - a pretty spineless combination cop out
- and for that reason I would agree with fevertreeman that a full bid may be better if you can't run a business.
It's a shame as they seemed to be in reasonably good shape a while ago, and I have also held from near the 'fever' levels, so have had good growth and resilience as a mini conglomerate type approach which stood them well as a small company with some diverse resilience. Can't see the rationale for ditching the various parts piecemeal.
Hate to be pessimistic, and I like Paragon - but the deteriorating economic conditions will almost certainly now mean a faltering housing market and energy costs will hit businesses and likely increase unemployment, despite the current 'noise' being about domestic consumers.
Paragon has certain defensive properties (interest rate & rent increases etc) but it will be hard work against the external grain.
They have had previous loans from a variety of people. The company nearly went broke with its initial mines but the ceo himself put several million $ in rather than dilute the shareholder's. The price was 5p then.
They have always been pretty straight talking and upfront, but clearly a company of this type carries big geopolitical risk, but so does africa or s.america.
I should just move on if not happy with this.
No idea of the numbers and who really benefits, but surely feed volumes will dramatically increase with farmers unfortunately having to already use winter feed with no grass about?
Another one along with Duke who have given 1 days notice, hopefully not a trend.
Serves them right the sp is already lower and Another I will be voting against all directors at agm (as ii is easy to vote on) . Won't make much difference but if a few more shareholders do it would!
Ace, must agree I would like a little less smoke and mirrors and an honest bottom line actual focus on results - I'm no expert but I find their results hard reading - and as Warren Buffett says if you don't understand it...keep away.
In my case I have had VCP shares since well before Wilding, when it was a boring solid but small family dividend paying company - but it certainly stops me buying any more until some clarity comes through...
Thanks Agricore - and yes I have some TSL, unfortunately I have to admit at an average price of 65p - I thought the discount as was then would offer some cushion, although I am perhaps more unhappy at the Directors decisions than ST's poor call.
Fortunately it is only a small holding that I bought so I will probably cross fingers and wait - hoping for the 'littler loss'....!
Yes, it was based on Blocks current price of about $74 - so could go either way,
but TSL was always at a discount.
To my mind a complete gamble on what Blocks price will do - just consider
Up 195% over 5 yrs / down 70% over a year / down 40% over 6 mths / up 16% over 1 month....over the next 3 or 4 months ?!?
Hi Jan,
yes fingers crossed - a pretty difficult trading statement, but about as positive as you could expect in the circumstances.
Just hope the madman next door can be stopped by all of the countries realising he is bringing the worlds problems closer, without any long term benefits to anyone, (including himself)!
Agree Trotsky and I voted against too (its easy on ii to vote), and will vote against directors at agm's for what it's worth, they might listen or catch on one day....probably like Boris feels really sorry, but that's just cynical !!
Do notice they just said 'passed' on the rns and didn't give a breakdown.
Agree with ragnar - I have been in this share for circa 30 years and she turned down an attempt back then with an offer of 50p when the price was around 45p.
I agree shes not exactly a dynamo, but has been consistent with low salaries, doing well for the workers and not overpaying for land....just needs even her to realise that this amount of cash is just too conservative when food costs are likely to remain high for some time.
I don't think the beef is about the placing, it's about the unreasonable way they have carried it out...
It's a good dividend share, but management are not small shareholder friendly with a ridiculous timescale whilst they pick up 1m cheaply themselves. They have already done this a couple of times before. I will still hold but for what it's worth start voting against resolutions whenever possible. It easy to vote on ii...
mmm...might be worth a punt if it wasn't already really struggling before this.
I do already hold some shares and have kept them, but events going right back to a large euro loan that turned sour with a deflating currency, loss of crimean and eastern market sales, wider ukranian corruption and russian meddling has made a potentially good company really struggle with consistent bad luck even before this terrible event!
...fine guys and thanks for the extra info.
I think you misunderstand me - yes they have for some time been buying gold (some 2300 tons according to imf) for the obvious war chest, but you buy it to monetise it when needed. Currently it is very positive for the pog - but when other routes are cut off they will likely have no option but to sell ìt.
I'm very positive on aaz and got in at 5p some years ago, but just want to point out an occurence that may happen. Be an ostrich if you want but this is a discusion board...
Fears of Russia dumping huge amounts of gold as the only accessible capital option left!
Block inc shares still down 50% from a year ago, and this is now just a play on Block share price with a big discount that it always seems to have had.
Don't like the way the management has handled this - very poor and not properly explaining or enquiring of shareholders views. Looks like they are simply retaining a job to earn money twiddling fingers and just holding shares in another company hoping the share price will go up.
Bit like me now, as the share price had already dropped disastrously before I could sell out !!