Member Info for Krustysmegma

OK, so I'll play your silly game, it's a wet Thursday afternoon & nothing better to do.

What do YOU think the Thali "asset" is, precisely, and why do you think anyone would loan money against it? You do understand that an asset is something tangible don't you, and not hypothetical?

Nomadme, JA would have to sell the company for 100x the current sp to recover his losses here. He's the classic gambler, doubling down every time he loses. And, sadly, he loses a lot, with the long-term shareholders here.

See my reply at 12:08 yesterday Mr Kever. Not sure why you didn't read it.

That's right Bishop190, I haven't. Neither have I asked you how many you hold, nor will I. I can tell you that I haven't added to my holding since the 1/250 dilution in 2016 & leave it at that.

I'm happy to accept that you keep closer to what's going on here than I do and that you don't agree with my analysis. I genuinely hope, for your sake, that this share doesn't bite you in the ar$e like it has so many long-term holders here. Good luck. K

So if TRP goes bust, BGFI will just sell the oil in the ground to recover their loan?? Or perhaps they'll drill for oil themselves to get their money back? 3 months ago the sp was 0.14, today it's 0.037. Cash at 31st December was $231k with losses of $1m/year. How much longer can it go on for?

Thanks for that Sam. Let's see what tomorrow brings.

I've no idea why the sp dropped below 90 but certainly looks like a good opportunity to buy as you say. Would like to see this back around the 120 mark really. In the mean time, the dividends keep rolling in...

Hmm....

Nothing on the website yet either - perhaps timed for the US opening?

Kever:

"The TRP share price is irrelevant to getting the BGFI bank loan over the line."

Sorry but I can't take anything you say seriously after that one.

"TRP are unable to issue 40 billion new shares (5 X current number). Articles of assoc don't allow the issue of this number of shares."

You forgot to factor in the 1/250 share consolidation. So that would equate to c. 160m shares issued, a lot less than today.

He WILL get the raise done IMHO, but it will wipe out existing shareholders. Here's how I see it panning out:

- He can't approach the banks with the sp rounded down to 0.0p (to the nearest 0.1 of a penny), that means consolidation.

- The consolidation will probably be (once again) 1/250 which would bring the SP to c. 15p, reducing the number of shares held to 1/250th.

- Jeremy will put another c. £5m of his own money down, but he'll want a significant discount. So will the banks.

- Assuming this all takes about 6 months to arrange, the SP is likely to have fallen to c. 5p (again, see last time this happened).

- Jeremy will create (say) 5x the number of shares in issue at that time, discounted at approx. 50% to give him chance to recover his (vast) losses here and to get the banks on board. The SP will drop to around the placing price, c. 2.5p. The company will have roughly the same MCAP, but the PI proportion will be approximately 1/8th of the current value whilst Jeremy and the banks hold the bulk of the capital.

Only my view of course, no doubt one or two will disagree, possibly quite strongly. Come back this time next year to see if I was right, or even anywhere close.

Another 12-month low this morning, how low can this go?

EarlofRamping, you might gain a little credibility by declaring how many of these you hold, and at what average price.

What I'm looking for, from the releases due this week, is an indication that TMIP management is having an impact on Grind, and a clearer vision of how the two will move forward (i.e. remain as separate entities or combine as (say) Taylor Grindrod). A reduction in the debt in line with forecast would be very positive in my view, unless funded by more vessel sales. Let's see, should be an interesting week. I'm going to wait for the news updates before any further purchases here, so that should guarantee good news and an sp rally lol.

Sidi!! Welcome back, you've been missed here. Whilst you were away, the dividend has gone up to 7.5p per year, so looking pretty good to maintain the next 3 payments at 2p / qtr. Hoping this sp rally will continue too.

Hi Sam, thanks for the update. I sold some here at 88p in January when I became anxious about the half-year report (at the time). I haven't bought them back yet but I intend to. It's a tough call whether to do it ahead of the first-quarter update or wait & see what it looks like before committing. There are lots of negatives currently but I believe they're priced in already so I suspect any sign of better news, plus a continuation of the dividend at the current level, could see a significant rerate. My average is currently 99p so it would really help if I get this call correct.

Thanks for replies guys, apols if this is off topic for many.

I'm no expert on this SCHeckler but I've done a bit of research and this was the first thing that came up. Having read further, it seems to sum the position up quite well: "The first step in processing the transmission of shares upon the death of a shareholder is to check your articles. They may contain provisions for this eventuality. Failing that, the legal position is that after a person dies, the shares form part of their estate and will be passed to the will's beneficiaries.". I assume the recipient(s) would lose the protection of ISA's and/or SIPP's and the shares would be placed in a standard share account. I'd be really interested to hear from anyone with more knowledge of this who knows differently.

Re Thoth2, Oscar Wilde said "Imitation is the sincerest form of flattery". #legend on this board.

We're all talking about how much the price has dropped in a short space of time, but I see from my spreadsheet that my last buy was 5,000 @ 58.50 on 16/12/22. In that context, it's done rather well. I've said this before and I'll say it again, SAR isn't the kind of share where you just buy a load then sit & wait. There have been plenty of opportunities to sell some at prices way higher than this, and occasional dips well below it for the opportunists. FWIW I'm waiting for another dip below 75, without expectation, but I had no expectation in December at sub - 60 and that's where it ended up. I'll be ready if it does though...

I can't call the market, I can't explain the big price swings, but they've always been a feature with SAR and I don't see that changing any time soon. GLA. K

Yes, there's a lot riding on the next update over there Sam, let's hope it's a bit more positive. I think you've timed your buy here better than me and silverknight but, of course, a low price gives everyone chance to load up with cheap shares and enjoy the (currently c. 14%) dividend on offer.

Yes it was an understatement as you say silverknight, I'm down 47% here myself. I thought the dividend may have been cut this first quarter, but as they've maintained it I'm hopeful they will be able to continue at this level. The year-end update indicated that the dividend was more or less fully covered in what has been a fairly grim period for office rentals so if we start to see a gradual easing of inflation in the next 6 months or so hopefully things will start to improve for REITs.