Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That's me out guys, must be a strong buy now as likely to rocket ?? now I have sold.
After holding for several years I have just lost faith in the bod. I have spent the last few days thinking it over and the asx move is the straw that broke the camels back I no longer feel the bod have what it takes so have voted with my feet.
Why I sold... 1 - I can't hold asx shares in my hl isa, I don't want to have funds moved outside the tax wrapper given the looming capital gains tax changes a chunk of any elusive profit would go to Mr C**t . 2- selling if the kml stake at a loss just a week before great results... 3 the £6m loss on the collar facility shows the bod is out of it's depth and their strategy change would suggest more of this activity. 4 - the want to shift the investment strategy to focus on more unlisted investments, on reflection this really worried me given the bods poor performance to date. 5 my gut / their track record suggests a rights issue again once on the asx to create liquidity / market interest / free up cash to fund the new strategy... You can just see it. 6 - yes there is a big discount to nav, this is for good reason given the rubbish performance to date and it is not unusual for funds of this type to trade at a discount to nav.
The only reason I could think of to keep was those nsrs... 6 against 1 so I sold.
All the best to those staying the course, holding out for those nsrs will hopefully come good.
I suspect today's bomb in the share price is as a result of institutional Investors being forced to sell due to their own fund rules.... I have put a few more k in to try and capitalize...
However, I have come to the personal conclusion the BOD are not up to the job. We should do the opposite of their current strategy and sell the investments and just hold the 2% royalties... Discount to nav should be realised and they should walk away.
I only continue to hold as I have faith that the royalties will come good. Saying that it would not surprise me if the BOD sold at a discount.
I hope the large shareholders are asking some serious questions.
Hindsight is a gift. My gut could not get over wtf mm was playing at selling out to cobre. My heart said maybe I get it... Duck out of exploration risk and cost. But to then sell those share at the bottom of the market. Tbh I'm furious, my heart says those nsrs are worth substantially more than share price. Like most of you I'm sitting on a big loss and now praying we get broken up and sold off. Thankfully I'm only £10k in and £3k down.
I agree it does not feel right... That 50% kml holding is worth substantially more today than when we sold it just a couple of weeks back... Why not wait for a couple of weeks when they knew results were due? Yes we could have lost several million had the results gone the other way however I don't think there is a single shareholder in mtr who does not have a higher risk reward apatite it's the very nature of the investment story.... I'm holding as the long term opportunity remains in play.
So if I get this right tiger has valued kml at £3m ish (750k for 25%)... I get the cost of drilling etc to exploit potential but surely the opportunity is worth more than £3m... This is either a gross undervaluation or selling an investment we too early. I have faith that the nsrs etc will come good so have been ok with sp as keeping a long term view however this sale does just not feel right.
All quiet for some time in the rns front, very low volume and share price drifting south.... I'm thinking of packing my trowel to go over and give them a hand speed things up :-)
Yep they are different. All being the same after a share split you still own the same % of the company. A fund raise dilutes your ownership as there more shares / capital in circulation. In general a share issue to raise extra funds hurts your back pocket in the short term but should theoretically be done for the good of the company ie accelerate future growth or save it's skin like the bank's did the back in the credit crunch. It's quite complex to work out the pro's and cons but I feel in the main a fund raise losses you money short term. Read up more on it as sometimes you can make cash out of options, I can't remember the name of the company but a good few years ago I did not have cash to buy the options allocated and sold them on without a penny leaving my bank, the price I got for the option exceeded the drop in share price by a few £k.
It's just a market over reaction in line with the general flight from higher risk shares. We don't have any assets in Ukraine or Russia. 18% down is extreme, unless I'm missing something tiger specific the fundamentals remain the same. I'm holding for the long term however not adding anymore as already quite heavily exposed on this one.
Hi guys does anyone have any rough timescales on the next round of announcements of drill results? I thought the ic article on monday would have pushed up the share price not caused a drop lol. Thinking it through and I may be wrong so please correct me, whilt its great we have the sandfire drill results our income on that one is capped at 2m so not explosive, its the drilling on the other side of the road we really need good results on as its uncapped...
Avid reader of this board but never posted, this stock looks great, it feels like a tinderbox about to explode... I agree with the view IC should give sp another bounce on monday, I was kicking myself for not topping up my modest 27k share holding this morning but have just bought another 6k shares as I really do think this one has more to run....