Dogs breakfast2 Jun 2013 11:06
Dogs breakfast
hi Bridge , read your posts, and came home to a little cheque from SIG ( 3rd Dividend this week)
and 2x Annual Reports/ accounts from CRES and ANON. CRES is the bad egg at the moment in my portfolio which annoys us all!!
basically its a dogs breakfast, and as my mind wanders , my thoughts are Board of Uk coal decided that they could see the sh** hitting the fan and their fat pensions going pete tong.
So set about a way to make some money for themselves and cutting the wagon ( MINING) from the Horse.
Theres no real explanation in the Annual Report of a forward looking investment company (CRES), just lots of ramblings about the former business. So until we see some distance from The operational difficulties at Mine holdings, the current outlook is HOLD.
The MINE HOLDINGS side is up for sale at £1.00 ( or their portion of it )
As I can see LLOYDS have chipped in to prop things up, which is good news....
there are obviously some 'covenants', get out clauses ie. should there be some value in Mine holdings then CRES will benefit.
We have
One of Europes largest deep mines possibly bought out by Uk gov
I think this will happen
Hargreaves who have just bought lots of open cast and run the coal supermarkets in UK formally interested in buying coal mining, potentially wanting to purchase or farm in to the deep mines that are left
ANON companies who may want to purchase DAW MILL etc as ALKANE did with MALTBY mine.
No one has explained about Insurance at DAW MILL, was this a complete right off?
An Investment company, that has a share price affected by Operational issues and does not reflect its book price?
Its no wonder there Report has no front cover just a blank page!
are you going to the AGM?
if so and you want to ask a question, what would it be??
any ideas on TWITTER KENSTAFF
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