Member Info for CJ66

Yes, looks good appointing experience & hopefully a probing eye into this companies main weakness which has been poor management lowering results combined with 'unexpected' bad surpriaes.

Certainly the incentive is there with a substantial shareholding if they don't perform...

...just for info this is looking at trading economics which shows good live pricing, with lead good for caml above 2000 & zinc 3000.....

I don't think so. Clarkson reportedly bought Zuma 100%.

Although Braemar did invest some time ago and helped its development, a Zuma director left Braemar a while ago and joined Clarksons indicating it also left the investment.

As usual bms is rather reluctant or reticent with many of the details of what goes on. Hence it gets a rather poor rating from me for being unable to really understand or judge how they are really doing.

As a result I did sell 1/2 my small holding last year when they cut the dividend for no good reason - indicated by the share price dropping further & followed by poor results compared to CKN where I have a bigger faith and holding...

Prices of lead & zinc also seem to be slowly rising.

Whilst nothing like gold or copper it's a good sign and with most commodities rising generally it seems odd to be stepping out of this share now.

All it lacks is the next project, but with a low rating and strong cash and sales = life in the old dog yet to me...!

Exactly, shipping I know is very cyclical like commodities, but they are supposed to be the experts. I know nobody has a crystal ball but ramping up in a bull market and selling into the bear doesn't seem so good.

Not so sure how the nav / return will play out. The market has given the value at circa 64p. If for simplicity you paid & removed 1/2 the shares at 100p then the rump may be valued at 28p. Vice versa if they gave you 28p only a share the rump may be valued at 100p (i.e. the total number of shares & value remains the same total).

I was prepared to take the higher risk but am disappointed with the overall management and invester inter action.

For people wanting more stability the brokers offer a better route in that they ride much of the boom bust with bonuses and always take a charter fee without the asset ownership, making them asset light

I originally bought Clarkson for £1.20 during the 1st gulf war and also have a few Braemar, but they also have some question marks over management ability.

Did also have shares in a couple of other brokers who have now been taken out. Yes I am an ancient grain now, but still happy to look at the odd interesting higher risk!

Reporting results next week 14th - looks like they should be very positive still with the initiatives put in place + gold price, hard to get credit times etc.

A silver lining star for the times - even if you would prefer they were not those times!

Plenty to go on the $10 yet, actually don't mind if the price stays low for this to run on yet!

Having already paid back in dividends more than it's initial launch price, this is a rare small mining cap and I like the way they haven't diluted the holdings to zilch and actually maintained a cash positive stance rather than loading up with expensive to service debt. It's probably why I have had the shares for years rather than the vast, conroy or jubilee approaches - you takes your choice of risk / reward!

At least this keeps them in a strong position to be able to look at deals.

As a ps I notice in the ic that a new company is coming on to aim to progress the Chile copper retrieval using the Kounrad approach that caml looked at. Caml didn't go ahead as the numbers and value/volume costs didn't stack up after pretty thorough research. It may be profitable now with a higher copper price but it doesn't really sound worth chasing.

Still don't quite understand the forward strategy. Whatever the price paid it is just returning a huge chunk of the company, but now with few money producing assets - it is after all meant to be a shipping company.

Still also don't understand the huge merger of ships a while back, that has seen them nearly all sold off at or below asset values = busy fools pedalling to nowhere!?

It seems I gave them about 100p some time back and they will return about 90p of that over time with dividends and share purchases.....

Think that cash pile could be increasing faster than you can imagine shortly - the timing is perfect for SLP

What a trading update - brings home the realities of a war, that by the way is far worse than we suffered in what we thought was a horrific and courageous 2nd world war blitz.

To think Ukraine voluntarily handed in the 3rd largest arsenal of nuclear weapons with security guarantees casts a dreadful light on humanity. Predominantly obviously Russia, but also Europe and the USA are culpable. Where the planet goes from here with these type of leaders goodness knows, but I certainly feel really sorry for the Ukranians.

Long written down this investment, but I hope some future comes soon.

Could do with an upturn in lead & zinc prices which are flat over the year. This would then kick the share price on, especially as the current copper project now has a reducing shelf life...

The board need to get a grip on telling the truth once again. Plenty of past financial issues not flagged and no earn out sum not told about.

They don't seem to realise (or perhaps care) that this has meant a heavily sceptical share price. I thought the new cfo sounded more forthright, but now not so sure. More should vote against directors at the next agm to wake them up or let somebody else tell us if this type of business can really make money or forever be a serial disappointer...

21st january last year.

*** packet view of interim at eps of 70p, means finals should be 140p + as they have indicated continuing strong production and pricing.

although commodity pricing is up and down longer term, the price is still too cheap for a well managed company, still expanding with net cash and a forward pe under 10.

All pretty strange - they seemed to start ok, but kept having the nav knocked down with lower market values. Then took over the other outfit for the undervalued and scaling up opportunity. Have since sold all their ships and most of the original ones.

Result is they have got absolutely nowhere and lost even more money than the dividends they paid out.

The grand old Duke of York would have been proud, but I'm stumped to know what the plan was and they have never really explained themselves or there odd decisions.

Have no idea why I am still invested in them either.

It's like rabbit in headlights meets ostriches!

Can't be many instances when the share price goes up when the bidder withdraws - it's probably helped highlight the future potential here.

I think he means the bid, rather than the share price....onwards and upwards...

Will be interesting to see how the share price reacts bid or lack of.

I agree, I just can't see what acg have to offer. They just seem to want to buy and put together mining companies - which means they have to buy them on the cheap. AAZ have to much potential to offer a realistic bid price at this stage. Only a slimy stitch up deal between management could possibly work, and AAZ have been pretty straight to date. The chairman even put his own money in earlier on, when a dilutive share placing could have been made.

Quick buck is no go for me, and hopefully the large holding management.

Goodness knows why someone like Inglis is still there,as one of the 90% club!

He will probably carry on selling the property until he notices that the rent doesn't support the dividend next.

The ultimate grand old duke of york to my mind - goodness knows why I still have the shares, except I keep thinking they can't possibly go lower!!

Thank you 'fun' for the updates. I think these shares have more value than the current price and as long as you don't want to sell, the low price, whatever the views on the background reasons, means good value in taking out as many as possible at a low price.

Yes incredible Guitarsolo - the directors put their heads completely over refinancing (unlike AIRE) and made a complete mess of it, all without keeping shareholders (supposed owners) informed.

however with investor apathy, over 90% of those votes ACTUALLY cast re-elected all the directors - my paltry few against making no odds whatever!

Gun to the head job to subscribe for more shares or be wiped out selling. I am still disappointed however that with the strong liquidity gained they appear to have made little progress.

I wouldn't buy until new management have moved in and shown the dial can be moved.