The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
It is a shame to announce news like this, one more time GR proves the fact that we have a kid running the party
I dont think GR is warrying about any of our consern regarding dramatic drop of SP and other any consiquancses related to this drama as he is going to retire in a few years anyway, he personally just need some money to keep his life style comfortable will he is retiree and PREM perfectly solve this task. He is old and obviously that he doesnt have any motivation to work hard to build his reputation as a good manager, to make his CV looking good, he doesnt need this anymore. Why will he spend his health, energy and time to prove us that he worth money which he earn?
I think reputation for him in his age is just funny work.
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Below is my message and it was written 16th of February 2019, regarding KME deal,
"Could somebody explain me please, how did we get a fair market valuation of US$2.8 million for the KME Plant Hire Asset Portfolio. Who made such valuation of these assets, when this happened and how do we know that this is fair value? I know from my experience that to arrange an official valuation of assets company like KME (which has some equipments, trucks and so on) takes a long time. Well then, how and when GR had arranged this valuation? I don’t get that really".
It means that GR went for this deal like a blind without any clear picture about questions above.
So, this fact proves my another point regarding GR as a manager that he has a great problem with proper risk assestment and risk management and I have tried to describe this point in my messege 20th of Jan 2019, even before announcement about KME deal.
finally, it was quite obvious that GR wont be able to proceed the deal with KME, and for me it was very clear right when he announce about the deal with KME first time
So far, Prem is an excellent choice for anyone who wants to waisting his life time and money and all this due to very unprofessional company management by GR
I remember the situation in the autumn of last year, when we were all waiting a just one signature from ZIM gov regarding RHA 90% ownership, and at that time GR infrom us all that he had recieved an official letter from ZIM gov where it was written that ZIM gov will sign the deal during 48 hours. That time situation also looked like 100 % deal but nothing had happened after 48 hours and until now. Lets learn from the history
GR will never change
how the whole business of prem, finally depends on one signiture from ZIM gov. I have wrote before already that GR has a sirious problem with risk assestment
If i know that we will finally come to this pathetic point, i would never invest in this company
The next good news we are expecting is funding from ZIM gov for RHA , but I guess it could takes years and years to get when you are dealing with gov. Finally, if we dont get funding from ZIM gov, we wont get 90% ownership either.
So, I guess this company is highly depends on situations which its not able to control. Prem business model is not business, its casino.
Dear GR, let me get a hell out from here, give us any good news, i wanna leave this train on the next station
Finally, after all bla bla bla from GR, what can I say, one more delution has been already realised (in this regard, GR keep his promise) but all stuff like RHA ownership or funding, Zulu drilling, Circum and so on, nothing have changed what so ever, shareholders are still desperately waiting any good news from GR and he still give some ridiculous comments
after all discussions about RHA with ZIM gov, we are still waiting a signiture, the difference is only that we are waiting signiture to get funding, not 90% of the project. I guess it can take another year to wait.
yet, shareholders are paying 300k salary per year to GR that he is buying some crap on the way to bankruptcy
when will he make even a single promise real, except one more delution
no any trust that we will get any funding from ZIM gov for RHA, I think its just another reason of wasting our time
I dont figur out how we will get RHA funding anytime soon, its a gov money and this is only news which worth to make a serious jump in the sp
lets face the truy, one year past and basically nothing changed for prem except more and more promises from GR about bright future and more reasons to justify new dilutions
I still dont get how and when this company will make a profit
the question is now, when ZIM gov will be ready to provide funding for RHA. I think even if the deal will be signed , it wont happen this year.
What the point to buy new assets if you not able to develop them.
Looks like the only option for GR to get his salary is to buy new assets and ask new funding from shareholders for this purpose
im sure GR hasnt reached any agreement with ZIM gov, otherwise he would already inform shareholders about details
The short notice from him about an agreement doesnt mean anything, he just need something to prepare shareholders for delution
Im sure GR is keeping another crap news for shareholders like it was many times before when shareholders expected something good from him. I will be very happy if im wrong. Probably GR is just sitting and thinking now how to introduce this crap news to us, like he alwause did.
Jessel, you should be a preacher, “you can’t listen to it but you can talk it” ,