Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Good write in FT today commending Oasis on execution of their strategy. Need another bidder. But who?
In profit : fab. But feeling slightly short changed by offer. Thoughts on a.n.other entering the arena? I’d live with FT suggestion : holders should seek 80p. Oh well lucky Apollo - for now.
I would guess update at Q3 and action in Jan on Q4 update. Action in Jan as either it’s a re-rate up or a tank (as I see it) later req board action, former would be most welcome. Sadly former for me is the hope and it’s the hope that kills you.
Could. Would. Should. I would take 120p tomorrow with current management. And current management will not realise potential. MM needs to move into ambassadorial role. A CEO needs to be appointed. (50p in that alone).
I would take 170p on Monday. Reflect. Move on. The idiosyncrasies of being founder-led with significant ownership hamper objective improvement. That SP would be higher for absence on management updates speaks volumes.
I think we are stuck here (these levels) until Jan. Anyone else suggest otherwise?
170p offer looks better the further away it gets. Req. some basic performance from Exec and change in sentiment, both 50/50, for re-rate. Hopefully some decides to hunt down Nutrition as an acquisition
I think it’s just low volume causing strange movements. I don’t however know what will cause a material re-rate here : I think SP is suppressed (but I’m invested). Maybe when leisure gets sold the whole outfit gets viewed differently.
Hopefully Q3 update is +ve on pubs and reports completion of leisure sale. Then there have to be some open Qs as to why SP is languishing where it is. Ripe for PE take-out and breakup. 75p offer would pose some Qs to large holders and underpin an upgrade on SP.
I made a terrible mistake in investing in THG (or more the mistake was averaging down) as it inc. exposure and THG kept falling. There is the argument ‘it will all come good’ but I don’t see how that happens with MM at the helm, non enough skill or objectivity (both understandable by the way and a sign of success in having carried it this far). My fear is he won’t let go. And Board bolstered as it is won’t insist on nor navigate change. Given where I sit I think I’ll wait for Oct and Jan updates and then take a view. I’d happily take an exit in the 200’s and anything above 150 I’d get over quick.
It’s odd that RTN has not significantly re-rated then. If worst performing assets have been off loaded (alongside costs) then what’s left should much more valuable and focused - SP hovering around 50p post a good interim update and change of Chair does not reflect that. So either mis-priced, serious concern on future performance of group -or- yet to reprice. I don’t know what sparks a reprice? General market sentiment?? Bemused
Now reported in FT.
Monday will be interesting