Member Info for silverknight

Hmmm. Really don't want to be raising new capital with the sp on its back. Let's hope for positive news well before that. % wise this is my biggest loser by a mile.

We've been saying that for years NtoM. Dirt cheap or going bust?

Key question. If a deal were to be struck tomorrow, how long would t be before the black stuff starts gushing? Also, if the Ukrainian situation is settled without an apocalyptic conclusion in the next month or so what will the ensuing price of oil be?

You mean you bought 200 shares? High risk strategy but this could bounce sharply on a settlement or assassination. Very tempting if they drop below 300p.

On paper you're quite right but the situation in Ukraine really focuses the mind. Putin has hinted at nuclear retaliation against anyone standing in his way. Unthinkable to all us UK residents. It would be quite understandable (to me) if investors adopted a bird in the hand stance should a bid materialise. Interesting times....

Seems like lots of Jog holders in the 70-75 age range. Me too. Just thinking along the same lines as PC01. All that oil in a politically safe area. Beats me why nobody has tabled a bid of ,say, 300p to get the ball rolling.

The key issues are political and economic. If this company was operating in, say, Australia, the sp would be much higher. They seem to have overcome the hurdles of operating in a bankrupt country and keep on improving the dividend. I'm very happy to keep adding and picking up four payouts a year.

I also recently bought and we're in well below director's purchase prices. Another one that bases divi on NAV so it will fluctuate. One to accumulate for long term yield imo

The spread is variable and even at 6% is not prohibitive. I can buy at 915p this morning which is excellent value. We could be looking at around 65c dividend this year or nearly a 5% yield. Assuming gold doesn't tank this is one of the best picks in the sector.

Sizeable discount to NAV now.

Totally understand the frustration here. The yield reduces to around 7.5% at the current price so I will hold on for now.

Divi impossible to predict with any certainty. Assuming the sp and nav remain as they are now at 31st December the yield would be a very acceptable 6.2%. Obviously a falling nav is likely to drag the sp down with it. Reserves may need to be tapped to pay the promised 8.8p this year.

to you RKB. On reviewing the last accounts the company seems to have a very small free float. I got in at 3.2p but didn't buy enough, sadly. Rarely average up but might do here. Be interesting to see how they exit the unquoted and illiquid investments when it happens. I shall monitor the situation regularly.

So why is the sp falling? Assuming the divi is safe this is a snip

Agree. The residuals would appear to be worth around £2mill but what will be the catalyst to reduce the gaping discount to NAV?

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)