Does anyone know if there is a percentage level for ownership by a major shareholder at which compulsory purchase of remaining shareholdings is allowed? Apart from the provision increase and continued regulatory issues ("protecting the consumer"....), Q1 results were OK and the cash position nearly doubled. Might be attractive to take private.
Another PM miner I have added to my growing portfolio of gold/silver companies. Becoming quite a PM bull in the belief that economic/financial correction is getting increasingly likely and that PM coys might (....) fall less than other companies or, much better, might increase substantially in value. PM prtfolio is very general from the biggest (Barrick) to the absolute tiny (Cora) and all in-between. Best performing on the upside of gold - and most stable in the recent gold correction - appear to be the Russian shares (POLY and HGM in particular) which was not expected. Worst performer is of course FRES, who everyone loves to hate ATM.
I have been somewhat scathing of Tom And Linda's vegan sheep farm purchase but, irrespective of assets held, PMG needs 3 improvements to restore market confidence:
1. Cross to stop treating PMG like his own private company and to stop lording over his lackeys (aka BOD);
2. PMG needs to do something that FAVOURS its investors - special dividend, buy backs or even regular dividends. Might not be the best use of capital for a growth (...) company, but Cross has reduced the SP from the 60s to the 30s with his related party games - now he needs to make up to SHs for his faux pas;
3. Company needs to increase and improve investor communication. Terrible PR ATM - simply not interested in giving out news on progress?
The company has some interesting potential but appalling management that treats PIs with contempt. I watch to see if a leopard can change his spots.
If management is to be believed (???), FO is near and with a reasonable partner (PMO again?). Risk will be reduced and price uplift likely when FO is announced. I'm finally in. These minor O&G shares are a lottery - as unfortunate SOU holders found out. Utter disaster of a deal for those LTHs who finally wanted out. But as usual management is laughing - more cash in and years more of excessive remuneration on the backs of SHs.
Anyone serious about PMs in the current and future global environment should be gradually buying up, but expecting bumps along the way (like now). Buying individual miners is akin to suicide for PIs as they are generally run by terrible management teams out to simply enrich themselves, make terrible use of capital and treat PIs like absolute rubbish - but generally rise when PMs rise. Since TMK there is no sterling fund on LSE dedicated to PMs (? - is there), individual miners are the only/easiest/most convenient way for PI to invest sterling in the space. However because so many miners are PI poison, I am taking a very wide approach to the miners - from POLY, CEY, HGM, and FRES (ouch!) to HUM, PUR and even a bit of CORA (plus others). Some of these companies will screw investors totally no doubt and some will probably do very well if gold and silver rise (as I expect) - just don't know which.
Which is a long way of saying I bought some HUM. Bought in at 22.50 but it's come onto my account at 23.7 for some reason. HUM screwing me from the beginning - typical miner!!!!!!!
1. Three posters have already indicated the likely end of this company. If you stopped writing sarcastic pompous hectoring verbal garbage for a minute and actually read other peoples' posts you would have an idea of what I am talking about - but you won't, so you don't;
2. You say the company is clearly worth 130p today - if so, so why is it such a great deal for MI's to have (a designated portion of) their shares bought out at 46p?
3. Yeah, I think the level of OF's compensation and the fact that he rents out personal property to the company at vastly inflated prices is disgusting. Obviously you don't.
4. As regards other posts - AIM generally moves on sentiment, specific events and fund raising, not balance sheet analysis. If you haven't worked that out, you shouldn't invest on AIM. If you want 2 million pointless posts of detailed analysis read the ENQ and HUR boards - and where has all that analysis got them : ENQ at 18p and HUR at 43p....? And where has all your pumping analysis of SLE got you? 28p.....
These O&G small caps are nothing more than a lottery, but the recent 100% cost farm in - and, before that, cash raise (albeit dilutive) - increases the odds in favour of 88E for the time being. I'm in for a (very) speculative punt.
Not sure I understand today's sell off. Everyone knows the value of IH is zero - or is the sell off because the the new team are stupid enough to leave ANY value remaining for the 'investment'?
The initial funding into IH (and subsequent revaluation...) is possibly the most puzzling investment I have ever seen - and by a multi-billion fund management company.....Made after a trip to review operations at some start-up cannabis companies in Canada perhaps???
Instead of selling out at a huge % profit recently I doubled up, which is not generally sensible in such toxic local and international environments. However seems to be working out so far. A rare bright spot on the market (excluding the usual one-off micro O&G explosive price movements based on a single event) - more good news, please.
POLY continues ever up which is great and in line with shares of a number of Russian companies I follow that are doing well over the past year - Gazprom, Norilsk Nickel, Sberbank, Lukoil (when other O&G coys are through the floor) etc. Hold Gazprom (good); held NN but sold at $22 (in profit, but not so good in hindsight). And, like POLY, all pay good-to-excellent dividends.
Risky environment, but profitable ATM.
MY writing is turgid!! OMG.........And, since it appears to matter greatly to you, should you want to put out and compare professional financial qualifications and experience, perfectly willing to do so.
OK, if you guys believe that the majority and minority interests are 'perfectly aligned' (as is the case with all AIM- listed companies, per your best mate) and that the majority holders here act independently of each other, so be it - no use preaching the blindingly obvious to the unseening converted. I just wonder who will come out best when this wreck is finally cleared up (hint: one of the winners will have the initials OF - and that is also blindingly obvious)?
And a final blindingly obvious statement - yes, Tosca are behind SLE and OF.
87% of the company is held by 3 connected players, the free float gets continually sucked up, the share price is 28p (....) and the company is hugely undervalued - but rest assured that the interests of major holders (them) and minority holders (us) are and will remain 'perfectly aligned'.
For most of the recent PM boom, as mining stocks have moved up FRES moved down (....). Over the past few days, while most all mining stocks appear to be going down, FRES continues to drift up (past 680p ATM). Conspiracy theorists make what you will of that....
Perhaps - but TBH my outlook on these O&G AIM exploration shares is very ST:
1. A quick in and out - if it does not go as planned, don't hang around;
2. Very small amounts invested. It's a gamble, not an investment.
Continued downward price momentum is frustrating, but I also continue to allocate further funds towards PM shares. Just sold up on another non-PM share and put the funds into TSG. Perhaps more ST pain on this share in a falling gold price environment (who knows?), but I foresee eventual LT gain.
Another last comment on the Tom and Linda Vegan Sheepfarm (with luxury apartments) Board - someone mentioned below 'that dog' I3e and presumably how lucky PMG are not to be involved with the dog (the meaning of the post was not clear to me - Tom's dealings in Dana were, like, 100 years ago, and I had previously referred to land deals) - well that dog has turned into a wolf, it seems.
Know why we gamble in AIM O&G shares - because the local casino is too far away?
Good luck on PMG - I see a nice price rise coming when Linda brings out her new cook book.