Member Info for silverknight

Would be interesting to have a bit more detail on the tactical portfolio. I believe Barrack Gold is the largest holding and others include Cabral Gold, Fresnillo, Endeavour Mining, Mandalay Resources, Resolute Minerals and Trevali Minerals. This could have changed though. These and ETFs made up just over £1mill in the tactical portfolio.

moving up but the m/c just totally fails to recognise the potential here.

Good morning Flo/OaW. I would expect a value for Asc payments to be factored into the figures as Asc are effectively raising their stake by stage payments. We should be getting some numbers for the full year in the next week or so which will clarify matters. Also expect to see JV on proactive putting more meat on the bones. Feel like we're building up to a better reflection of the company's value in the sp.

Few serious long termers prepared to wait for the fruit to ripen. Occasional influx of speculators looking for a quick buck.

Timmit/Guvvi. Various factors can affect the NAV not least currency movements. The size of individual holdings in the tactical portfolio have always been opaque. The CapEnergy holding was written down but has this reversed with the higher oil price? I expect a higher valuation of the Ideon holding. Either way I would expect the sp to be much higher this time next year. (Markets permitting of course.

Brel. Yes, we've received another million dollars from Ascendant but that is counterbalanced by the shareholding in LS being reduced. They're not giving us cash for nothing.

Price nudging up slowly ahead of full year results in next few weeks. I'm interested in present NAV and updates on the smaller components of the portfolio.

Hi mick. So you're saying that LTHs to 2031 will get double their money in dividends over 10 years but there will be no residual value (that's if they buy today)? Obviously we would hope that there is something left but that would be a bonus.

I think full year results are due late November. Interesting to compare huge volumes and correspondingly large number of postings in some of the micro exploration companies. People love to buy millions of shares in sub 1p companies believing them to be cheap. Mafl give a wide spread of investments while being derisked by the Ascendant agreement. Obviously some people are not doing enough homework.

Timmit - they could (technically) but I suspect that lack of liquidity would prevent them buying a meaningful amount.
Florence-I thought that we are sitting on £578000 with another $3.5mill to come from Ascendant at end of next year? I may have that wrong but the position is still very healthy. I also suspect that the Ideon stake could be a real kicker in the longer term. Either way this is an overlooked company and way undervalued

Inside information is a bit of a fuzzy issue. If trading is generally strong directors might be encouraged to buy although that's not necessarily going to require an rns. The overall tone is positive and the divi reflects that. This has the feel of an old fashioned company with solid tangible assets. I bought sub 5p but reluctant to take profits yet.

I think the extra 7.23p per share previously alluded to is already factored into the accounts on a DCF basis. Otherwise the Redcorp holding would have started at a NIL valuation and only been credited in the accounts as payments received

Yes, the company has issued billions of shares since having just Mankayan and Eureka on the books a few years ago. Mankayan was close to a sale at $70mill about 8 years ago and what's it worth now? Needs huge investment to bring to production which won't happen any time soon. Eureka has consistently failed to find a buyer or JV. Remaining interests cost under £2mill and none are revenue producing. Hence reason sp is where it is. Latest share issue will create a further overhang. Some people confuse low priced shares with cheap shares so they attract a lot of speculators. I suspect money could be tied up a long time or they just get bored. Very optimistic to expect any of these bolt ons to provide a bonanza in my opinion

Well that's told him.......

Puerile comment from a member who joined 2 days ago. Why bother?

I think a progressive dividend should provide a support level here(assuming no market meltdown) so I'm happy to be patient. I suppose we've got to be . The risks seem well spread.

a familiar pattern. Always seems to track back after positive news. Looking to buy more in 30s (hopefully)

Meanly priced below a rising NAV

a slight sense of anticlimax but the company has been derisked (cash rich) and well worth holding for the dividend yield.

I think they're very pertinent points. Cash reserves shrank by over £700k in the first 6 months with only £400k left. There is also the Going Concern qualification so they admit more funds are required in short order. Any further share issue will depress the sp for a long time (assuming they can get it away). Bird needs to focus on generating revenue rather than jumping into new projects