Member Info for Rhaegar

Noted your earlier reference reading back on Hot dogs, do you see this as your conviction punt of 2015. I can see there has been a few management changes over the past couple of years, have they removed all of the jokers or just reshuffled the pack? Can see that it is cheap here, but business (and sp) decline over past few years is frightening, even given broader markets.

Rebought shares panic sold last fall, at a lower price and with better prospects...inadvertently shrewd lol. Some impressive buying yesterday (at least for here). Longer term investment of course, but looks promising (as you say, cheap vs OPM), decent financial commitment from Cooper.

I've sold half at just under 230 for a 5% profit...seems sensible to limit exposure given poor response to trading statement. The statement itself looked okay...although noticeably less detailed that those released previously, and no references to double digit growth. As a strategy I inted to trade this so as to be totally out by the results in March, then back in by the second half...depending on events elsewhere of course. I have very low dealing costs and use relatively small stakes, so makes sense for me to take advantage of this flexibility

Yes, I'm not a big user of charts, but this seemed quite a clear call. I'm trying to switch from averaging down to buying into strength, so a good opportunity to try out that new philosophy! Judging from last year we'll probably have a trading update in the next fortnight, if that shows improvement (as opposed to continued decline), it should give it enough to charge toward £3 I feel...perhaps beyond

Today on break out, now max 1 share holding with average around 220. GLA.

PMR - I don't trust management of these companies, or PMR in particular, but think that they can be relied upon to further their own interests wherever possible. I don't think the ME ii seems very active (but may be applied pressure for dividend), but I took interest in WMG's stake. Never heard of WMG, but Telegraph reported: "...WMG, which was founded by veteran investment banker and Cardiff City FC chairman Mehmet Dalman. The shares were sold at 130p apiece and Panmure closed flat at 128p on Tuesday. Given that Mr Dalman, who was formerly chairman of controversial miner ENRC, and Panmure boss Phillip Wale go back a long way, his investment is perhaps unsurprising. In 1998, when Mr Dalman was head of Commerzbank’s investment banking business, he hired Mr Wale and the two worked together at the German group until 2004." Dalman no credibility but seems as though there may be a back scratch? I sold out last year, but think it looks interesting. ...sadly doubt they'd see the irony in it, would probably justify it as 'everyman for himself'...think too many (a) are too entitled to create the genuine meritocracy they purportly want; and (b) have total lack of respect for the faceless private investor, who they see as contributing less to the business than themselves

Recall you mentioning this back when it was EWR - the shareprice decline closely mirrors the cash decline, no? Seems little interest in underlying business, which is perhaps unsurprising given lack of apparent interest in shareholder value (dividends, buybacks, investments). If you were to go for a people business, would CNKS or PMR not be better options given dividend, mojo and II interest?

I read through these and sent the link through to a friend who works in the sector...he was surprised at how bad they were, his firm have been aggressively recruiting. As said on GC, I think this management deserve a discount

Do you have an idea of the approximate costs pa of AIM listing, incl. NOMAD fees etc? I've seen a few touted around on the bbs, but seem to recall seeing it mentioned in RNS announcements occasionally when companys delist. Whilst (imminent) call for further working capital justifies listing...can't help but feel that when cash balance is greater this scale of business may be better run privately. Looking at the reports, how much can those businesses really expand? Seems dependant on key personnel in small localised markets. I've also noted that Mr King's tie isn't straight on his linkedin photo, which is obviously a question for the next AGM lol.

I understand that the issue with share buybacks (including scrip buybacks) is that it would increase percentage shareholding of main man, and it's already at dangerous levels. Conversely he can't sell, because SP would tank. So difficult situation. The most obvious way around it (and something to suggest to the company perhaps) is that CAMK spend significant part of cash (20%+) on buying back shares, but at exactly equal proportions from the CEO and the open market...thereby reducing shares in issue and also slightly reducing his stake. They could do that I think, although it'd be a bit convoluted. Non-exec visits to sites are key difference between here and NBU...I've had my eye on this for ages...but mainly as a trade as I think clothing retailers are too susceptible to changes in trends/fashion

More positive news of further jam on horizon...not enormous revenues but positive still. Will probably double up somewhere around £2, which will keep my average around that level. Trading 180-90-220 nice if you can get it...I'll try to be quicker on the trigger next time.

Article written by same chap who talks about it in link I posted yesterday I think. Illiquidity is of course an issue here, and not necessarily 'explosively undervalued' (to quote JS), but I think it's a good pick for diversification/relative stability in 2015. I think a 1 year target of £5-5.50 is entirely realistic.

Seen your post traffic here, know you're an LFC fan but don't know how familiar you are with city...Norris Green gangland/v dangerous, reckon significantly worse than St Anns, Meadows, etc. Check house prices on Rightmove, but not unusual to be able to buy 2 bedroom houses there for £40k...so not sure margin on this contract will be very big. Opinion only, as ever.

http://www.iii.co.uk/news-opinion/richard-beddard/dewhurst%3A-startlingly-undervalued ...I think these articles have a limited audience, but the piece is balanced and informative.

Yeah, good results and good progress. Just said to Shan on his financial page that I think some of their revenue looks a bit lumpy though? Some big projects in there? Still a buy overall, I'm just hypercritical/nitpicking really to presume worst

Thanks for the information from the presentation. Tracylied great info on Kalaa's relationship with Mugabe - that's amazing. Agree on relationships, especially in a country like Zimbabwe. You can stop wishing M ill now ha! I know you're not a big fan of MWA's Chinese stakeholders but as a culture I think the Chinese are experienced in situations that require greased palms, so they'll probably be helpful on external corporate relationships. If Kalaa is resistant to buybacks (and by inference, dividends) on the basis of using the cash to instead drill further, perhaps we are seeing the route cause of the corporate infighting? I will email the company to state my support for buybacks (even if nominal amounts). I don't expect my own voice will add any great weight, but can't see any harm.

Ha, yeah that's exactly the kind of thing I was looking fair. Good to see the company acknowledge that trust is an issue (it has been flagged directly to them I believe, not by me) and the video will go a long way to proving that. Looks like you may have got in near bottom. Really positive. The only negative (which needs to be said for balance) is that there have clearly been delays this year (read RNS chain and KaChing link) and management has not communicated them, going so far as to explicitly state that there have not been any,,,which seems odd. Initial revenues were expected by end year 14, now it's end year 15. As a whole, the project is still good(/great) value and I think it will probably multi-bag at some stage, but don't like the way a whole year has slipped without a mention!

Was happy to buy today. Really impressive results and still quite cheap. Pension deficit situation is annoying, but the company is nonetheless good valuel on a EV/EBIT ration (I got 5.5) and looks well positioned from reading the review of the individual businesses.

Striebs, yes the concept and inherent viability seem great...but I suspect there'll be other opportunities between now and project completion. Mayfair, well if you have bought (at least partly) on the basis of charts it may be a good trade...I don't pay as much attention to that side of things. Yes, you've bought shares in a company that have told you that they are building a port. Problem is, there is no evidence of this, and the man telling you this is facing a number of criminal prosecutions for a variety of dishonesty based offences (see AIM admission prospectus...no subsequent confirmation that he has been found not guilty or the proceedings have been settled/dropped). I posted that I intended on waiting for further updates at 88p...I think I'll keep waiting for now...but GL with your entry...I make plenty of mistakes so you may be proved right.

Receivables seem to be high quality, at least from comments reported from AGM...would be nice to see Garvey stick his hand in his pocket though...I recall someone mentioning that he's well paid, haven't yet looked in results to check to careless repetition only