Member Info for Punter64

ddd the main reason CNR has lagged its peers in valuation is that the market always though Child was out of his depth and the market was right.

willowman - I completely agree. The wasted years and money is breath taking. How many ounces have been added in the last eight years or so - virtually none. A BFS could have been done on this undersized resource eight years go! By being terrified to raise and spend money back then he has ended up dragging this out for years and years, achieving very little of value, and ending up spending and wasting far more money than would have been the case if he had done the BFS eight or nine years ago.

spot on greygoose the last thing we want is for MC to take on another CNR project. Show us the money please or should I say 'the peanuts'!

Very wise not falling for all the bs

Yep, Jibbo, Fenner et al were well wide of the mark as things have turned out but where they went wrong was having faith in the clown Mark Child. This should have been a 5 million oz+ project years ago. But no, instead there have been years of dallying and flip-flopping strategies. When you look back the incompetence is staggering!

Simms, the trouble is that the 'big mine' is to some extent theoretical. MC has talked of 14 million oz but we only have 2.4 million proven or partly proven. We could have done far more drilling over the years but Child in his wisdom decided that the sp wasn't reflecting good drill results so he didn't bother. That would make some sense if the strategy was to build a mine but if it was to sell (I think that was always the plan) then it makes no sense at all. Eight wasted years - and just a fraction of the potential resource to put in the shop window.

Yep. What bugs me is the fact that the 'strategy' has regularly flip flopped over the years between selling the company or building a mine. If the end product is to sell then you look back and think how few ounces have been added over the last eight years or so and realise what a failure this has been. This should be being sold as a 5 million oz+ district. I could go on about the failings in management but can't be bothered! Let us just hope that the sale price (if it actually happens) enables most of us long termers to get our money back at least.

Agreed that 50p-80p seems very realistic should a buyer be forthcoming. However, this announcement is testament to the abject failure of Mark Child who has been shown to have been completely out of his depth.

Haha, yes exactly! Concentrate on what matters rather than the window dressing

Cheers Trek, noted thanks

For info, CSH have just put out a solid trading update. Index linked rental income so 'pressure on wage bills' shouldn't be too much of an issue
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Good solid trading update today. Not hard to see why L&G have just bought 18 million shares. 9% dividend and the latest NAV at 114p. This is trading at a massive discount and at some point that gap will close.

good to see the overhang is cleared. We must be getting near to the three month timeframe MC gave for finance news a while back?

Looks like a nice bounce back has begun

I dont think you researched CSH very well to be honest. The rentals CSH collect are 100% funded by the Government's welfare budget via local authorities. So, there is no issue about collecting rents. THe only potential threat is if the Gov decides to cut spending on social housing but that seems unlikely because it has been proven to be very cost effective. CSH currently paying 9% divi so looks a good bet if you think Gov funding is secure - clearly L&G think it is or else yhey wouldn't have just bought 18 million shares.

Interesting to see that L&G have purchased 18 million CSH shares. Should we be taking the hint?

Good to see L&G buying over 18 million Civitas shares- big vote of confidence. Take the hint!

Yawn seingred. How many times do you need to repeat the same thing? This bb has become a vehicle for the same couple of people to repeat themselves ad nauseum and has become very boring as a consequence.

Good point Slippery, the Chinese won't object to Ortega, quite the opposite!

Yep, but at least he can take comfort from that probable fortune he will make in the next few years from his investment here!