Member Info for Krustysmegma

Thanks again richred, that's a really helpful analysis.

Thanks PCS1954, glad you were able to attend the AGM and appreciate your thoughts afterwards. Fingers crossed for some positive news early in the New Year. K

BHSI down to 713 today, goes from bad to worse.
The good news for me re the dividend cover is that the deal has been done in cash, so there are no more TMIP shares in circulation than before - so no dilution. Appreciate things are not as rosy as they were at the time the deal was struck, but TMIP were receiving a dividend worth 16% of their GRIND investment, so now with 100% of the company that should be quite a chunk coming in. Even paying down the debt rapidly should leave enough to cover the existing dividend, I would expect. We'll see - GLA. K

Excellent results Uncle_Doug, very positive about this share going forward. Most of the NAV increase is down to acquisition and the number of shares in issue has consequently increased too. However, the bit I liked most was profit per share, which for the 6-month period was 4.81p (up from 4.20p) and that can only increase as more assets become operational. It surely can't be long now before the much-anticipated 4 x 2p dividend level is reached, maybe next f.y.?

potnak, I think you're overlooking the fact we're no longer part of the EU. There's been speculation it might mean China, Japan (Timbuktu...??) but why not France, Spain or Holland? Don't forget, these guys have been around for years, they'll have made contacts all over the place, and some might be quite keen to work with SAR on something like this?
I've managed to pick up another 5k at 58.50 this morning, getting close to 2m in old money free running now and still cash in the bank in case it drops below 50.00

I don't understand why directors have been buying at 28p, then slash the dividend? Makes no sense to me!

This is unravelling rapidly. Shareholders have endured months of value dilution through the sp dropping (nearly 25% in the last 9 months), now the dividend has been cut by almost half. Quarter 3 dividend of 0.4375p compared with previous 2 quarters of 0.8125, reducing the f.y. yield from 3.25p to 2.5p. Expected dividend for 2023 also reduced to 2.5p. More disposals planned which, once the debt has been payed down, can only reduce the amount available for shareholders.

I've sold some this morning and will sell down the remainder over time. Sad day, but better to take a small loss than continue to see an investment dwindle away. GLA. K

No need for apologies strictly, I'm not a frequent visitor to these pages. Thanks very much for the reply.

The only part we disagree on is wrt the Polish plumbers, the Bulgarian brickies and the Czech chippies. It wasn't the builders who sent them home, that was the great British public when they voted for Brexit. The builders were desperate to hold on to them, but people tend not to stay in a country where they don't feel welcome.

It's not the government who are raising interest rates jamrock, it's the Bank of England. It's working though, be patient.

Sorry to bang on about it, particularly for those who were persuaded by others on here not to top-slice. This is playing perfectly into the hands of those who took (very significant) profits when they were available. I bought another chunk at 80.00 and am making funds available to buy more at 70.00. It's a pretty basic strategy (sell high, buy low) but seems to be working out nicely so far.

The BBC is reporting that National Grid is putting coal plants on standby to produce electricity:
https://www.bbc.co.uk/news/business-63940390
Appreciate this won't directly impact Richards Bay spot price but if others follow it will have an impact on coal prices worldwide.

Yes, thanks Malik-. Sometimes market reaction has more to do with sentiment than facts though, so I would expect to see a significant drop here if war ended. Having said that, both sides are digging in for winter now so there's very little chance of a resolution in the short term IMV. K

Hi Mike - thanks for your in-depth critique of the half-year results and wider implications for TMIP post-Gridrod deal. As usual, very informative and food for thought. Let's hope for some improvement going forward, which if things settle down a bit in China they should do. Perhaps they could look at shipping coal in the interim, since that's where our government and others seem to be turning to heat our homes this winter!
Good luck to all TMIP-ers, have a warm & peaceful Christmas and let's hope that the good times are not far away here. K

"Total NAV return per share for the first half of financial 2023 was 1.4%, compared to 81% for financial 2022.". The whole article is riddled with errors. Embarrassing for the author but potentially damaging for TMIP until removed or replaced!

So I'm going to have to call out Harvey Dorset, Alliance News reporter, for his piece on this page ("TMIP Share News"). According to Harvey, "Taylor Maritime reported a total income for the first half of USD11.6 million, falling 91% from USD129.0 million for the same period last year." Absolute garbage! Where has this come from? Certainly not from the company announcement. To quote The Donald, Fake News!
Harvey also says the "company said that pretax profit for the six-months that ended on September 30 was USD7.6 million, down 95% from USD127.2 million a year ago." Again, absolute nonsense!!
Please ignore this joker, hopefully there will be a full retraction later (if anyone actually reads this stuff after publishing).

Considering the hammering this share has taken the results are remarkably solid. I particularly like the comment "Dividend cover for the financial period to 30 September 2022 was 3.6x" which gives enormous confidence that the company is comfortably managing payments at the current rate and, given the expected synergies from the Grindrod deal, should be in a position to set a higher target again next year. In the mean time, the depressed sp gives more opportunities to acquire cheap shares. Just wish I had more funds available to take advantage.

Yes I saw the responses to your question moneybox, nothing definitive there though was there? Guess it's just a waiting game now.

Yes I picked up on that too Tiger179. As a dividend investor, the attractions of TGA currently outweigh those of BISI for me. However, just because a company doesn't choose to return most of it's capital to shareholders, doesn't make it a bad investment. Thungela is a mature operation, spun out of a super-giant mining company ready to throw off lots of cash when the price of coal flies (i.e. now). BISI is at a different stage of the journey, so may decide to use excess cash for acquisitions, capital projects to improve the business, share buybacks etc. etc. None of these things is bad from a shareholder perspective, it just means BISI might be regarded as a growth company rather than one for income. Given what we have been told about it though, it could surely grow very quickly indeed, if the price of coal remains inflated.

CaneToad, I'm with HL & hold TGA in my ISA. HL deducted the 20% WHT at source, as I expected they would based on other comments on here. Others may be able to tell you how they treat SIPP dividends. K

32.00 - 33.00, wonders will never cease! Maybe further to run on this leg too?