Member Info for Guitarsolo

Broomtree, why do you think any sale to Janus (or anyone else) would be at NAV? It would be nice but......! I've long feared the problem with the wind-down is that once the fund shrinks by a certain amount (say 50%+) the costs of running the fund become disproportionate and it therefore a sale of the "rump" to someone becomes more attractive. But I imagine it would be at a discount to NAV. The question is, how much of a discount? The fact that the share price is sitting at such a substantial discount now (what is it, over 30%?) is a way of buttering us up for it!

Guitarsolo

I doubt it EyesOfBlue. VSL is a small part of Victory Park Capital and, being in wind down, isn't exactly the "future" for Janus. That said, it would be nice to have news of the next capital return, or at least to know when we are likely to hear.

I still fear that the longer the share price is (kept) low, the more they know they can sell of the last rump for a massive discount to their mates because we'll all be used to it not being worth much! That's the cynic in me I guess.

CJ66, have I missed the cut-off to vote in the AGM (against the directors)? I just logged on via HL and there is no "give instruction" button as there usually would be.

My fault if I have missed it (been busy) but would have definitely voted against people who have reduced capital and the dividend by 90% and seem to think everything is OK now.

Well I moved a bit too soon with a top up at 4.734p. Nevermind though, I'll continue to build at below 5p.

I've been in a few exploratory miners and have learned my lesson not to go in too deep this time having suffered a wipe out on a Lesotho diamond company (PRG) and stagnation with a lithium miner (SAV) - which I still expect to come good, but it has taken 7 years to make slow progress when I didn't expect it to be that long.

BRES interests me because of the battery technology but also the timescale to DFS is relatively quick. Plus I also work in Uganda from time to time (nothing to do with mining though).

Guitarsolo

I agree Broomtree. I was happy to add a few more during yesterday's drama at 214.375p which is a yield of 11.5% on the recently increased dividend. Long-term hold.

Crikey, LTI's in full-on narcissist mode! Very typical of bankers as it happens.

"SPECIAL ME"

Terry, I don't understand the comment "Despite an unstable dividend track record...."

As far as I can see it has been a rising dividend every year since 2018 at least. Granted, not increasing by much (perhaps not even inflation) but where is the "unstable" part? Anyone with experience pre-2018?

I'm not invested here (yet), but may be one day. I must be mad as I've been hammered by other REITs (RGL and NRR). But I hope SUPR might be a bit better and "stable"!

Guitarsolo

Meconopsis/ Bantam,

I have a significant share of my portfolio invested in insurers or varying types (LGEN, CSN, PHNX, DLG, AV.) all of which have some sort of Contractual Service Margin which I would lazily describe as a (potential) store of future profits. However, as Meconopsis has previously demonstrated a solid understanding of this subject, and Bantam claims to (!), how would you compare one CSM to another? What would be the best indicators of a more reliable/ profitable CSM?

Others please feel free to add comment.

Guitarsolo

So HFEL has elected to maintain the increasing dividend irrespective of cover for the moment (making up the shortfall from reserves). 6.2p for Q3 or 24.8p annualised. If we're being positive this is a demonstration of belief that their turnaround plan is working and they will return to a fully covered dividend before the reserves run out!

I was happy to add a few to the long-term pot at 225.8.

I picked some more up today at 201.136p. For the long term pot to just live off the divis.

It is undervalued but it depends what you're after I guess.

404: When they raised at 40p they said it was enough money.

When they raised at 10p they said they didn't need more money.

When they raised at 1p they said they didn't need more money.

This is why credibility matters.

I sincerely hope they will get this right, but the diltuion to here means I will forever be out of pocket despite being someone who has financed them to here.

Gunsup, your dad was right! "How aerosol going to destroy the ozone."

Ozone is a naturally occurring compound of three oxygen atoms combined, rather than the more stable and typical O2. It forms when O2 rises to the stratosphere where there is very little pressure. However, chloroflurocarbons (CFCs) break it down. CFCs used to be used in aerosols and refrigeration until it was banned. After the bank the ozone could reform and plug the hole and carry on doing its job of filtering harmful UV rays from the sun. If we hadn't taken action against the aerosols the ozone would still have been depleting.

An example of where combined worldwide action against an environmental threat can work!

Cookoo, if you meant the paperwork we have always had to do you would have written "....as I have always done". But you specified 2016!

"so crawl back under yer remaining rocks".....Why are you so bitter?

Cookoo: "i was getting all paper work ready for this weeks lorries to the eu ,as i have done for the last 8 years"

8 years? The Transition Period ended on 31st December 2020. Why were you preparing paperwork from 2016-2020 when it wasn't required?

Or are you making stuff up?!

Energy generation from oil or gas takes place in the UK whether the oil or gas comes from the North Sea or the Middle East.

MV said "nuclear-oil-gas would make us self sufficient". Clearly incorrect. And from a man who continually tells us all how we are idiots I would have expected more accuracy.

MV: "Nuclear-oil-gas would make us self sufficient !"

Q. Where does the UK dig up its own Uranium of Thorium?

And you think you're intelligent?!

Indeed it does Broomtree. I was beginning to wonder when we might hear of the next capital return. But if they are planning to reduce the dividend in proportion to the capital repayments (and nothing wrong with that imo) it does also logically follow that they will need to return a fairly sizeable amount soon as otherwise the dividend would remain high!

MV, who thinks he is so clever and everyone else is thick, conveniently adds the Conservative and Reform votes to compare to Labour....but doesn't think that the LD, Green and SNP votes (all from the same stable) should be added together!

I've been thinking/ hoping that we might see a commitment to pay a certain minimum dividend (e.g. 8p p.a), augmented by specials for the next couple of years as is afordable, until a more stable profitability returns. Then they might commit to a larger standard dividend and reduce or do away with the specials. Things should be looking up, but they strike me as they will be cautious and preserve their capital rather than return it too willingly to shareholders.