Member Info for Prince_3k

Got in at 52p. To say that I'm happy is an undertstatement :)

These are cross trades with the Nigerian Stock exchange. If you check on the London Stock Exchange website (not this LSE website) you can see the trades in Nigerian Naira (NGN).

Unnecessary comment. It's times like these where the old adage comes to mind... "Better to remain silent and be thought a fool than to speak and to remove all doubt"

Looking at the London Stock Exchange site, it looks like it's the buys on the nigerian exchange that seem to be quoted here, as seplat increased 10% today (max allowed on that exchange)

Very strange indeed. Seems like an II is buying all of a sudden

Looking at the final year report, some things of note:
* No final dividend this year - I guessed this was going to happen since most companies are saving cash. This means bisichi's total dividend this year is only 1p
* Earnings after tax attributable to shareholders is £1,046 million, down from £3.3 million last year
- this means an EPS of around 9.6p
* Net assets still around £20million so no impairment charges for the properties

Conclusion:
* For now, I'm not buying. I'll keep it in my watchlist but the lack of a final dividend means I won't be adding this to my portfolio, especially considering the price of coal has declined.
* The positives of this are that the net assets are still very high (£20 million) relative to the market cap (£6 million) and a high cash position around £7 million
* This is clearly an asset play, so excellent price for the assets. However, I'm a dividend investor, so won't be buying

This could be one where I've missed the boat by not buying in the 50s but I'd rather be safe.

I think Pound/Rand won't have a significant effect on figures. The most important measurement is the price of coal in dollars. Although coal has declined to around $57 a tonne, most of last year it was around $70 so earnings will still probably be great

Same here. I got quoted 75p too and decided not to buy. Definitely not buying at that price when I could've easily bought it around 56p yesterday. Perhaps if it goes back to low/mid 50s I'll finally decide to buy

My view is that there are 2 options when choosing whether to buy this or not:
- buy: you assume the dividend is maintained (or maybe even growing) and earnings are above £5m+
- don't buy: you assume the dividend will be scrapped since many companies have done this recently and there's an unexpected hit to earnings

I agree, this year's profits should be excellent relative to the market cap. I'm also wondering whether I should start buying now or wait for a much safer value around 50p. Then again, I could end up completely missing any forms of recovery if I don't buy at a good point in time. I may just buy in small chunks over time. The FCA have given up to 2 extra months from the 30th April for companies to deploy their annual reports, so that would be latest 30th june

I agree. The retail properties are likely to decline. I'm debating whether to buy this or a KOL ETF so im exposed to overall coal. Looking at the half year report though, the company made over £3million profit and that was just for half year. Even if profit dropped to £2million for an entire year, it would still be cheap at a p/e of 3

Haha completely understandable. That many shares in any one company would be alot for anybody to take so I agree with you that it was a wise decision. Good luck john. All the best

I think you forgot the other sections of the RNS citing debt 99% paid. I.e. the company is debt free. In such an environment as this, where there are lots of opportunities for cash rich companies to buy, this is an excellent position to be in.

Here's hoping that tomorrow is a much better day for gold miners. Based on US gold miners performance today (most up double digits or high singles) e.g. barrick gold, newmont, kinross, royal gold etc. hopefully UK gold miners will do the same. Let's see how Australia responds during it's open to get an indication of tomorrow's movements

Agreed. The story of this company is still good. I'd still be patient before buying most stocks at this point in time

The FED just dropped interest rates to 0%. Gold and gold miners should have a great day tomorrow :)

No. The deal has been delayed until at least 7th April according to the recent RNS

I would still say that this one of the safer companies out there in terms of not going bankrupt. People will always need food after all. I may consider buying back in once the recession is over.

It's a sell off of the overall market. All assets will decline including Zambeef. Also, the Zambian currency may decline against the usd considering the economy is dependent on copper.