The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Thank you RKB. Funnily enough I was looking at the investments on the company website yesterday to try and get an up to date picture. Rather opaque as so many are unquoted or non sterling denominated. What about Engage Tech? This had a value of around £1.7mill and the biggest individual investment. Current value? Last year the full results didn't appear until June so we have a while to wait yet.
How do you know when the accounts are coming out?
There are plenty of companies trading at big discounts to NAV. What we don't have is a timed exit strategy. How will things stand at the end of this year when another 2 payments have been received from Ascendant? The conservative NAV has nudged up gradually and I expect that to continue with interims next month. This is a diversified micro cap with real substance unlike many of the jam tomorrow explorers. Certainly not for the impatient.
Dick's comments hit the nail on the head. The coordinated sacrifices needed to prevent the juggernaut hitting the wall are too great and I suspect that the Chinese might cheat on any agreed deal. I also suspect that Armaggedon might be with us in the next 30 years so we might as well keep using the oil and go out with a bang and enjoy it..
I'm interested in knowing what JKs game plan is. Not likely to be a takeover and he must be underwater at the moment. Perhaps just an investment for the benefit of Mr Kight (sorry Beatles I couldn't resist that one)
The ARR is in USD but the m/c is in £ but even so the rating is unduly hash. Updates in a fragile market need to be very upbeat but ours was pretty bland. I still think this is a great entry/top up opportunity.
Not necessarily a red flag. Persistent buybacks suggest that sp is undervalued. The dividend looks secure for now so I'm reluctant to take a good profit.
Bet the people that subscribed at 28p to raise £10mll are thrilled. No doubt this cash has already been eroded. Whatever happens the directors still get paid.
I've been in this disaster almost as long as you NtoM. My worst performer by miles with 72p average. Do I average down now or is it good money after bad.? Will it survive? Questions, questions.
Interims in March (hopefully) should reflect a conservative NAV close to 20p. I suspect that the sp could make a sudden spurt then or later in the year when further cash payments received. Much more tempting to buy than sell right now
Stamp's purchases in 2019 were at a pre consolidation price so he's actually out of pocket on them at the moment.
Todays trades are buys. Probably the cheapest gold miner on AIM with a decent dividend and prospective p/e dropping below 4. I'm in today.
Not going to happen. Barely profitable. NAV c.8p mostly assets in Zimbabwe whose resale value must be questionable. Gently diminishing cash holdings just about supporting the sp.
The board are unlikely to be concerned over short term sp movements. The catalyst may come in the next year when another $3.5 pops into the bank from Ascendant. Could coincide with the next annual results. Doesn't really bear day to day watching does it?
Hi Agricore. The main issue for me is whether 1. Jade can find a buyer for Future and Maize and 2 Are these investments held by companies outside China and, if not, can the proceeds be remitted for hard currency. They haven't made this clear. As you say, the discount to NAV is ridiculous and I would hope for another announcement from Jade in the near future
I'm actually not unhappy with this company (I'm in at 8p and prepared to hold on) but I suspect that a few of us are a little frustrated that less worthy mining shares get more attention. If there were 350million shares in issue at 1.2p each the speculators would be over it like a rash
My concern is more about the Chinese companies. I imagined that the Japan, Singapore and Hong Kong holdings would be the safe support (relatively). If they can dispose of Future that will put a whole new aspect on the situation. I'm in two minds about averaging down right now
The directors seem completely disinterested in getting the sp higher. What's the exit strategy/ time frame? They seem happy to keep the NAV moving gently upwards on very conservative valuations. A dividend of, say, .5p would have been very affordable and probably have prompted a rerating.
The Cap stake had been written down in the last accounts I believe but with oil priced at current levels this may be reversed.
Looks like full year figures will come out in Jan??
By their very nature pharmas tend to be famine and feast shares and this leans heavily to famine. A long term disaster and anyone needs to be very brave to average down at this juncture.