There is a good account of the present chaos in Zimbabwe in today's Times. Inflation at 500%, power outages, large scale emmigration etc. Remember that Mnangagwa was the man who did Mugabe's dirty work. Don't expect an economic reformer. I consider the country to be uninvestable.
Yesterday Serabi was one of the biggest movers amongst the gold miners with a 12% rise. Maybe the rise was overdone?
Also, it looks as if the dry tailings proposal for Coringa is a more expensive option for which at some point, SRB will have to raise capital.
Bit of info on dry stacking vs a tailings dam.
http://www.tailings.info/disposal/drystack.htm
a) He's no Churchill
b) He doesn't have a plan (no, really he doesn't have any identifiable plan e.g. 'no backstop' is a negative position he does not identify a solution.
c) The IMF, Bank of England, Office for Budget Responsibility and many other serious bodies are of similar opinions regarding the effects of 'no deal'. The only counter argument I've heard was from Ian Duncan Smith and that was along the lines of 'the experts always get it wrong'.
d) Google the meaning of 'spaffing'.
Who cares? Remember Boris waving a kipper last week and tearing into "EU regulations"? Well, according to the BBC's fact checker, the regulations are in fact British. Nanzanin Zaghari Ratcliffe is rotting in an Iranian jail due to his carelessness. I don't give any credence to what he says. He's all rhetoric and no reality.
W can't remain suspended indefinitely as that would be tantamount to theft. There will have to be a crunch day one day and when that day comes he will have to have the cash to hand to pay those who, rightly or wrongly, have lost faith. Is today's sp rise all down to the lessening of the threat of a W sell off or is there a whiff of good news in the air?
Even in the worst case, if the early results are not sustained I'm sure money would be available to investigate why. You can't ignore such positive results. For LTH's W is an annoying distraction. I really can't see this share going back to where it was in the Spring. I'm sitting tight and feeling nervously confident.
I have my eye on a few shares which might take off within the next six months to a year. . I don't think this is the place to discuss them individually but it would be very interesting to see what others might add to the list. Here's my (short) list:
HUR, SOS, AGM
Woodford holds RENE in both the Equity Income Unit Trust and the Patient Capital Investment Trust
On the 30th April the following percentages of each fund invested in Reneuron were as follows:
Patient Capital 1.31 %
Equity Income 0.44%
I have taken these figures from the Woodford website. I have tried two ways to estimate how many shares are held in the unit trust and have produced figures of 5 million and 8 million. So I think PI's have a right to be concerned. However the negative effect of Woodward selling RENE would be temporary and any good news would probably make it irrelevant. [note to any accusations of deramping - b*****cks]
From the Woodford website.
On the 30th April the following percentages of each fund invested in Reneuron were as follows:
Patient Capital 1.31 %
Equity Income 0.44%
I have to go out so can't pursue this further. If anyone knows the size of these funds on 30th April then it would be possible to calculate the number of shares given that we already know that together they represent 35% of RENE's shares