Member Info for picstloup

I seem have have got about 28% of the extra shares I asked for on top of the 1/13 open offer. Wasn't expecting it to be scaled back by quite that much, but so it goes.

I've opted to take up all my open offer shares and subscribed for another 1000 on top, on the grounds that I'm unlikely to get another chance to get my hands on any of these at £2.90. Could well be wrong - been buying these since December at £5.40, some more at £2.10 in April and £3.20 in May. Currently slightly in profit overall. Fingers xed.

Arrived safely in my dealing account today. Now, what to do with the proceeds? Oil looks oversold to me, but then so do quite a lot of sectors.

Very nice. I see my Rios and Shell are both up by around 8% as well.

625 at just under £13.58 at 11.47am. Seems too good to be true, but keeping a bit of dry powder for other bargains.

might be good for business charters etc, but the cancellation of eg the Euros football cup and other high end sporting and social events could have a negative effect. No idea which one will have more effect on the bottom line. Thinking of trimming back a little.

Just picked up 780 of these at 14.17, hope it's lost most of what it's going to.

After a nasty sounding EGM, with a few angry investors and assorted hedge-fund vultures trying to derail the project, the bid has been accepted at 5.5p. Means an extra 3b of debt, but easily accommodated thanks to the $9b reduction last couple of years.

Should be quite a nice little earner when it starts delivering cash in 2023ish. But I'm guessing we'll open down a bit tomorrow morning.

Prospective profit on 10mtpa. Very decent profit. Unfortunately it's not guaranteed, and it needs a lot of investment to get it out of the (currently damp) Yorkshire soil and out through an expensive tunnel to Teesside.

Sirius and Fraser showed that they weren't up to it. A pity, but so it goes.

AAL have the expertise (not, as far as I know, run by an Aussie banker, but by people with mining nous) so may be able to turn this into a profitable mine. I've lost money on this, but I'm now put a lot (for me) into AAL in the hope that Woodsmith will be profitable in the future.

I may be wrong - I was when I put my money into SXX.

Vote Yes

I take your point, mainly. But I bought these solely because I thought the owners would get fed up with the negative publicity about their pale male BoD and take the group private at a nice premium to the price I'd paid. I've held for a year, buying on four occasions, most recently only last month and, sure enough, they're offering a premium of ~50% over what I paid.

I never expected the full asset value, and am very happy with my nice effortless profit, all tax free in my SIPP.

Now, what to do with the proceeds?

Rare spot of green after two mainly red days. I've had these for 7 years now and they're about 200% up (including divi reinvesting) and still yielding a decent 3.2%. New CEO seems to be starting well. If he can deliver the promised $3.50 eps by 2022 it will be very nice. Presumably not counting the extra eps we should get it the $8b share buyback goes ahead.

For £2.31 on today's fall and before results on the 10th of March. Seems a rare opportunity to pick some of these up at under £2.50. Decent divi, well covered. Previously done well on cos spun out of bigger ones, especially Zoetis. Hope to see the same here.

Very nice, very glad I dipped a toe in here, wish I'd made n even bigger commitment, but not complaining

The aptly named Max Doom claims "The campaign to raise the £460m required is now well underway.", making me wonder if he cut his teeth selling PPI back in the day.

It isn't, the people who "pledged" money for the SXX-unicorn bonds did no such thing, they just said they might, and the self-selection of the sample would be laughable if it wan't sad.

SXX's relatively few remaining PI shareholders, of whom I'm one, have at most three choices and probably 2: 5.5p, the AAL offer, 7p, the hyena fund Odey's preferred outcome (can't see AAL accepting it, but who knows), and 0p, the outcome if the no vote goes through and the company goes into administration.

It's very sad, we made a duff investment decision, but it happens, and nobody was to blame but ourselves.

at £9.78. Looks good to me, and need to find somewhere to park my Daejan takeover cash. Well covered divi, decent eps

the gap has certainly closed. 50% jump on the day. Really very nice start to the weekend

I voted yes. Seems a reasonable offer, significant premium on the previous price. Apparently nobody else wants to offer more.

We made a bad investment decision and lost money. It happens.

It would be ridiculous for the government to intervene here - AAL is prepared to take on the mine, so why on earth should the taxpayer bale out private investors who made a bad choice?

I'd be pleased if Odey manages to extract another 1.5p from AAL as that would reduce my losses by £3000, but if their hyena tactics mean we go into administration then I'd lose £11k.

I really don't believe there are any other scenarios - 5.5p, 7p, or nowt. There are clearly people who believe that pigs fly, or governments care about PIs who made duff decisions, or in the compensation culture, but, on the whole, no.

Chris Fraser did quite well getting planning permission etc but wasn't up to the task of completing the job. He didn't steal from us, it wasn't a conspiracy, he wasn't in bed with AAL or the other Australians, he just wasn't as good as he thought he was.

It's all very sad and some people, including me, have lost a lot of money, but nobody but a fool would have invested more than a small proportion of their portfolio in such an obviously risky mining venture.

Look pretty good. Revenue up 9% to $30b, profits up 9% to $10b, divi up 9% to $1.09, eps up 10% (higher figure thanks to $1b of share buybacks). Debt up a bit but still only 40% of annual profits, massively down from the $13b of a few years ago. Market seemed to like them.

For the last couple of years I've been reinvesting my divis in extra Lloyd's shares, and see no reason not to this year.

I've upped my stake by about a quarter at £18.20. Think it's undervalued and the income relatively secure but we shall see.