Member Info for silverknight

Really? I bought at 1.875p in April 2020. Happy days!

The only fly in the ointment just now seems to be Cerrado.

Requires lots of patience here. Current market disinclined to give it. Surprised the directors aren't taking the opportunity to add!

7 months till the loan falls due and (probably) more working capital required. Is the cheap bolt-on acquisition (Hope) supposed to up and running and income producing by then? Dream on.

Quite right. At least post some constructive comments even if you don't like the management. There's plenty of scope here.

cardo. It wouldn't be good for Bird's reputation but as he's pushing 80 does he really care? Everything is jam tomorrow with these companies.
Mr T. I suspect that selling the Mankayan share would be very tricky in todays market. If anyone had suggested a year ago that the sp might be .08p today you would have dismissed it right? It's reflecting grave doubts that the market has over the viability of the company. I fully understand that some people have invested heavily here and don't want to contemplate a total loss. The picture should clarify over the next 8 months.

cardo. Obviously there are times when things happen beyond their control like raw material price fluctuations but here they have put self interest ahead of shareholders interests. Imagine if you bought a factory and put someone in to run it. After a year the manager says it's made enough to pay his salary but nothing left for you. This continues for 10 years. Would you be happy? Shareholders are the owners but have only suffered capital losses. The well is running dry.

Some not very constructive comments here.
I've traded shares for over 50 years and seen hundreds of bzts come and go.
Main issue that's sidestepped is financing. They have 8 months to repay the loan. Where's the money coming from? Hope revenue/profits? Not in that that timescale.
What about further working capital next year? The sp is shot so no chance of another placing. Even Bird recognises that. The excellent company website charts management errors over the years (Nealon/Read/Bird) most notably sidelining Mankayan and selling Choco (the most promising acquisition) at a huge loss. Over 10 years this must be the greatest destruction of shareholder value on AIM. Oblivion beckons sadly

Oh well. Several of us in the same boat then. The consistency of divis over the long term is rather reassuring so I'll probably nibble some from time to time to reduce my average.

Assuming the divi is held going forward, I can't see the sp dropping much from here. I agree that capital losses have been horrible- I bought at 321p on a 7% yield. What could go wrong??. Tempted to average down (modestly) and hope the divis keep flowing

Huge gap between current sp and even the lowest realistic offer. This suggests to me that the potential bid will be pulled. Shouldn't affect the price too much from here. Hope I'm wrong.

Shouldn't have eaten all those prunes.

I suspect that any offer will come in at the lower end of market expectations. 15-18p?

Fine as long as a) the dividend can be maintained and b) you don't need to cash in quickly. I'm down 15% currently and can afford to keep collecting the divis. A good entry point for newbies perhaps?

Fine as far as it goes but there are so many undervalued shares about at the moment. Lacking a compulsive buy imperative but certainly a decent hold for the medium term

Looks pretty good apart from Nomad (appears to have no value on the list of investments) but there are quite a few companies trading at large discounts to NAV.

MrT. Don't patronise me please.
This is just the latest in a procession of disappointments to emanate from this business.
The sp is just reflecting the market's take on the situation.
A steady but relentless erosion of investors capital.

The sellers of Hope in 2020 took over half a billion shares in payment at point2 pence-a 60% premium to the then sp of point12 pence. bet they're thrilled to bits (especially if still holding). This company is a total shambles!

Last small trade at 26.35 a buy (mine). Cherry picking in a dire market but this one selling at less than half true NAV and bulk of the assets in Poland. A plus at this point in time.

Thanks for your input guys. There's clearly embedded value here despite the heavy fall in Rambler since the interims. Surprising that the board aren't buying more with the sp at this level.