The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
A clear concise summary of the companies performance right there @Vitec
My questions is that if MNH is such a profit making company with mega millions coming in monthly, whey do they need off-load equity to a company which has not delivered anything in the last 5 years? Maybe they could show us their accounts so we can all work out what fair value might be for our investment.
I would argue that history shows that learner.trader has been correct more times than MrMagoo.
It is tough to make a decision as to believe change is coming which will have a positive affect on the sp, is to to against everything that has happened historically for the last 5 years.
@CF73, trust you are keeping well. Nice little RNS on our other share last week. It's time will come.
What makes you believe this month? People have been saying the same thing for 8 months now. Have you seen anything concrete?
I think he is gone Craig. I don't wish ill on anybody and I suspect he is in for far too much and can't afford to lose it. I have no idea of his circumstance but the posts over the last few months sound desperate to me, even more so recently. I hope it pans out for him, maybe elsewhere. It won't be here IMO.
Lets see what tomorrow brings. Nothing good I suspect but its interesting to follow now as a soap opera. As an investing opportunity, it's finished IMO. Everybody knows it.
It will now simply run its course. Could be months, could take years but its had its day.
@Graham, despite your positive outlook, IMO this sp will fall, possibly heavily tomorrow. GR has cried Wolf too many times and credibilty after todays RNS released at 16:30 is now at an all time loe. It clearly shows the contempt he has for shareholders.
The bigger issue here is that he knows he has shareholders over a barrel. If the vote is a no. I suspect PREM is finished. GR walks away with Circum. If the vote is yes, GR can sit pretty for another couple of years whilst doing nothing of substance.
Either way, this is not looking good for those invested, short, medium or long term IMO. That RNS IMO was a complete and utter p*@stake.
700k for some rusty old dumper trucks and I quote from the RNS notes...
"3. Premier has not independently verified or updated the Cube historic resource estimate. No adjustment or update has been made to the historic resource statement for any production by Otjozondu since the historic resource statement was prepared in December 2012.
So in summary, our CEO is askimg for approval to spend 5 times value for trucks and other tat based on unaudited accounts and a resource estimate that hasn't been verified since 2012!
Simply unbelieveable. The fact that some are even considering this as a positive is astonishing.
@Graham, I don't believe there are any sore losers here, as you put it, just realists.
The company has been sat on great assets for 5 years+. Look what has been achieved with those great assets. NIL.
For many these are the facts and its hard to argue with them wouldn't you agree.
IMO the dispute with the Zim Gov re. RHA ownership/cash will now drag on and on. The Zim Gov will not award the EPO due to the dispute over RHA (see previous sentence). No progress will be made. No new investment or revenue will come in or be generated. PREM will in effect fold. GR will walk away with Circum in his back pocket as this is what secured the loans.
There are obviously two sides to every coin and for those hoping for the opposite of the above, I wish them luck. As a holder I would also be happy
But, I like many others are perhaps more realist than hopeful.
50 times would be circa 1p. Now that would be something!
Does anyone honestly believe the EPO will be granted by the Govt when GR has just instigated legal action against the same Govt relating to RHA?
I suspect our EPO documentation has been firmly placed at the bottom of the 'To do when all the jigsaws have been finished and there is absolutely nothing else to do' pile.
I honestly don't think there is a Plan B. Credibility in the market is now at an all time low.
Does anyone know the total of Circum shares now being held by GR as security for the loans?
Could he effectively oversee the closure of PREM and walk away with Circum?
To reply to the points made...
I only have circa £6k invested here and if the company folds, it does not matter one bit given my personal circumstances. I am following this now purely as a business story to see how it unfolds. If the sp goes up then so be it. I will either invest it elsewhere or as stated previously, I may actually spend in on an investigative financial journalist to pen a book on this company, just for something to keep me occupied. It would be great to see how the company has acted since listing in the eyes of an independent financial journo. If it goes down and folds, as I said, so be it, the book will have to wait.
I check in on this BB when I have time. Sometimes that is daily when I have nothing to do (most days). Sometimes it may be a week or month. It is a BB and I will post my view as it stands on the day I post it.
I don't need a cheap entry point as I already hold. However I would not buy any more. I am not so naive to think that anything posted on this BB would cause the sp to do anything. I agree that the sp doesn't seem to need any help going lower and hasn't done for the last 5 years.