Member Info for ismalia

Been here a long time - probably too long, but I'm not too sure if an offer is off the table yet. Why would RBD make an offer that was first and final, as it has never worked like that. They have had the feed back from the BOD and also our major shareholder and will know what they need to offer. It would be an easy fund raise and at the same time grab other prospects. Also does the offer tell us that we could be up for sale at the right price? It could be that having met Spencer, got a feel for an acceptable number we could see an offer worth up to 2p with a mixture of cash. We shall see.

Hello Oiltap - CB is also a large holder in BZT as is Tiger which is controlled by Colin. I keep looking at JBL but am not invested but have reasonable holdings in both GLR and BZT both of which will, IMO see massive sp appreciation in the next few months. At current prices of both I am happy to add as I feel the metals resourse sector is grossly undervalued and the juniors will be in demand.

Fortitude - I am a long standing holder and concur that the current management is excellent given normal circumstances. However we are not in normal times and it is always going to be difficult to hold back the incoming tide. If we look back at the pro forma balance sheet - May 2019 we have a consolidated net worth of £450k. Given the recent update we are likely to return a loss for the year of say £2m. We have borrowed much and have clawed back our money from Transend which was considerred a major investment for us. We are reducing our car stock and not expanding into Wiltshire. Coffee is not doing too well and the pubs/accommodation will struggle going forward in the short term. There are delays in the property sector in completions which will probably cost more than anticipated. New projects are good news but will cost money. This is the problem - no cash only borrowings and we will need further cash to invest in Cambridge etc and these will need more money than we think and will take longer than we expect to mature. IMO cash is king here Fortitude and unless we raise further funds via CLNs rather than equity then we may have a problem. Don't get me wrong - I am 100pc with the BOD but they are having to deal with an unpresidented circumstance which will be very difficult to navigate. Hope is fine until you look at the realities.
Are you still in Iron?

Oiltap, can you see a coming together of GLR and BZT and in fact other companies in the CB portfolio to form a much larger empire where each can feed off each other. This could save raises having to be made and a tremendous amount of admin time and operational costs.

I completely agree Oiltap but CB should not leave it too long and consider selling or a partial farm out/JV in the coming months. We should deal with this as the market rises - I have always been told that you need to leave enough in the deal to make it attractive to the buyer. We could do with the cash to fund other projects so as not to dilute. So CB let's not be too greedy by pushing our luck.

They are saying there is migration from London and at the moment FOXT has a MC of nearly three times that of Contrywide so on that basis CWD seem to be the better recovery play. I have a holding in both.

With gold on the march perhaps we should do something with the Ferber prospect. Could be worth a few bob to a large miner.

With MB having told us that the first four months NFI was 12pc ahead of the same time last year and importantly dropping straight to the bottom line, we should see about £400k net profit when the half year figures are announced in late August.
Thing is you need to beleive what MB has told us.

With Londoners on the move we can expect a lot of selling and buying activity over the coming months and hopefully having put the virus to bed next spring could see a massive surge in activity. IMO we will see the MC a lot higher in six months time.

With cash in the bank, a decent order book that will grow as the construction industry leads us out of the current situation, the current mc in no way reflects the potential. Unless the BOD put out a positive update they could well find they have an unsolicited bid that many shareholders may welcome. MC of about £125m is quite ridiculous IMO.

There are no results next week but the AGM is on 12 August I beleive. I think they may raise money at some stage but a problem may be that HRnet with 30pc may or may not wish to participate. I think a trading up date will influence any decision HRNet may have on making an offer for what it does not own and the price of the offer. STAF has a massive data base and a huge turnover in the employment market and could really bounce when the country goes back to work which of course it will .

Friday never too much going on but it seems as we may have a bit of interest at BZT. Have always felt that levels below 0.20p always undervalued the assets with a much higher value to be attained when resource values become known. We shall see.

No - for Spain please read Italy. Sorry to get your hopes up.

Same buyer increasing their holding. Potential bid or not you don't keep buying if you don't like the stock or the sector.

These are not due until September, although not too long, and I expect BL will be able to provide us with some increased numbers from Egypt and perhaps progress in Jamaica. Spain will be quiet but an added bonus when news comes.
Perhaps we will see the 4p we are looking for at that time.

We have the AGM coming along in a couple of weeks or so but not too many attendees I suspect. Therefore we can expect a full trading update which may be a lot better than could be expected and we could also have news about the share register and if there could be an offer on its way.

Supportive shareholder selling down never good.

Share price ticking up - no smoke so they say. Difficult to buy a decent number and as you say D220 must be tightly held.

All sorted so good news going forward

Good to see some interest here - Brian Larkin knows this business well and it is clear to me that the current MC is in complete disconnect, not only to current production but to the potential there is. Perhaps another production update will help.