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***"The strong cash generation has resulted in a net cash position of R19.8 billion on 30 November 2022"
At around £47 million to 1 billion rand = £930 million. With 134 million shares in circulation, this makes £6.90 per share that TGA is holding in CASH right now. Are my calculations correct ?***
Mostly, I think, but there has been some dilution, in particular an extra 4.18m shares for the purchase of Zibulo, so total number of shares is, or soon will be, 138m.
On June 3, when the share price was £57, RBC cut its forecast from £55 to £47, and got it spot on within about a fortnight - and by the end of June it was under £45, having touched £60 at the end of May.
Despite my wish for the price to continue rising, some of these people are far less "dumb"and have rather more knowledge than many bulletin board contributors.
Back over £15 again (at last). Really don't understand why it fell so far, and wishing I'd topped up more when it was down at ~£12.
Back up to all time high by year end? My calculations show an EBITDA per share of about $10 or even more at current coal price and total production of 12m tonnes pa.
The company will indeed be sold off eventually, probably when the old boys, god bless them, finally stop bed blocking/die, but there is no reason at all to believe that it will be at a premium for (the other) shareholders.
I think so, and added a few more yesterday at £5.75. They make stuff people want, they sell it at a (massive) profit and they're becoming even more efficient at it with the new sheds in East Anglican and the US.
I've hedged a bit, selling 2000 from my HL SIPP @ £18.2869 a couple of minutes ago. Will buy back in the morning, we'll see at what price - my main block of shares are in my ISA and held by Investec in Crest, so only attract 10% wht.
31 brokers have positions on Shell, with predictions ranging from £35 to £2. 45 (Citigroup). Hundreds of highly intelligent, highly qualified, highly paid people all looking at the same figures and coming up with answers roughly 75% different.
I'll be sticking my divi back in here next week, especially since we're now on a slightly evener playing field with European competitors.
They are a shower and the price will continue to drift downwards until leadership is demonstrated.
However, badly run as it is, the company is relatively cash rich since the disposal, and still generating adequate fcf. So, as others have mentioned, some pointy heads somewhere will be running their calculators over the business and wondering whether to put in a quick bid.
Which means I might buy a few more if/when it dips back down into double figures, especially assuming dividends for the full year of, say, 5.2p.
But it's so sad to see the decline - I bump into Rilla Carr, Ian's widow, in Brampton quite regularly and can't help wondering what he would think abou the mess the current incompetent board has created.
Crawshaw quite right, many of us do have an average considerable less than the two divis so far declared - in my case £2.50, with some from the first day (also the first day I posted here, wondering whether/when to add to my AAL inherited holding) . This may well fall back, but with around $500m a month accumulating in the bank its unlikely to drop that far. Divis of £6 (after tax) next year, anyone?
Not planning to sell anytime soon, despite breaking my golden rule about not having more than 10% of my holdings in any one share (other than Berkshire Hathaway). May topslice when it hits the 10 bagger - probably round full year results).
Many of my shares have, fortunately, done far better than Carr's. You say Holmes took over in 1994 at £1.53 and left at £13.47 20 years later.
That's a beggarly 11% annual compound growth, even including reinvesting divis - a tracker would have done better over that period. Luckily I bought most of mine at between £1.20 and 80p in the year before and during foot and mouth so did pretty well, especially having sold mostly in 2017-8 rather than waiting for this trough.
I've met Chris many times (our children were at school together) and he's pretty unimpressive as a person as well as as a chairman - "nice but dim" was the consensus on Etterby Scaur. I remember one of his senior managers making a joke about having to ensure the CEO had his large gin and tonic the moment the AGM concluded (usually at about 11.50am...).