Member Info for TigerByTheTail

Hi Other Tiger!
I've actually been here (in a small way back then) since 8.2p four years ago.
So I'm hoping this will be my first (and likely my last) ten bagger!
This is just a good, well-run, highly profitable company operating in a specialised but highly favourable niche.

I go with the Buffetisms:
"Be greedy when others are fearful, and fearful when others are greedy"; and,
"When it rains gold, put out the bucket, not the thimble".
So I loaded up both at 28p during "the dash for cash" back in March, and on that strange drop to 38p a couple of months ago for those odd managed trades.

The share price is 17p and in a downward trend. IMO, that's the market saying that the current deal is too small and that it won't work. Frankly, I don't know how the rights issue gets priced in these circumstances - priced at 15p now it will fail.
It's a huge vote of no confidence in the BoD, who should have followed corporate law and offered the 33p PE buyout to the shareholders. But instead they chose to save their own comfy positions. It's as bad a piece of corporate governance as I've seen since Flybe's corrupt demise.
I've sold my small stake here at break-even. Frankly, this looks a slow slide into bankruptcy.

Hi Stoodio!
I liked Terry (the old CEO) very much, and he did a truly excellent job on the ground. But he was a dour, wry, "the glass-is-half-empty" kind of guy who really didn't understand marketing or PR at all, and it's fair to say that he undersold his own achievements.
The new CEO (Jacob Prinsloo, Terry's old deputy) seems to be cut from much the same cloth. But perhaps he understands that a company has got to get out there and make its case to investors. I certainly hope so.

Hi Stoodio!
Yes, I'd say a quid would be fair value for now.
IMO, more than that depends on the outlook for next year (currently very good), a clear dividend policy, share buybacks, sales of Volspruit (big deal) and/or Grasvally (small deal), and management outlining growth and expansion plans.

I'd try a little more in depth analysis... you know, you could read the interims and Q3 and Q4 results and try and price this stock on fundamentals. And you could consider the market outlook for PGMs and try to work out how much profits will be next year (I make it that profits next year will be about $70m). Then you'd realise SLP has a long way to go yet until it is even vaguely fairly valued.

Hi Pokerchips!
Because the board are clearly failing in their fiduciary duty to shareholders. This is a stitch up deal designed to keep the BoD in their jobs, rather than an attempt to realise best value for shareholders.
If you knew some company law, you would realise that this is as egregious a breach by the BoD of their legal duties as I've ever seen.
The directors need to be reminded sternly by the FCA that they could be held personally liable. I'm not going to report them, but I imagine that one or another institutional investor has already taken action. (And no, there is no public evidence that any institutions were made insiders and informed of the terms of the offer, which speaks for itself).
In their position, given the reception of their deal today, I'd be mending some bridges and reviving the 33p offer asap.

Hi Perturbed!
No, that's not right at all.
Can I recommend Investopedia online? They should have an entry on rights issues.

33p is a good price for the company.
That's the only possible conclusion you can draw after today.
The board really need to reopen communication with the PE bidders, admit their mistake, and make the deal. If not, they are leaving themselves wide open to lawsuits and FCA action.

It makes sense that at least one PE firm goes hostile for Saga at this point.
The share price action today is an open invitation - it's now crystal clear that a bid of 33p would succeed.
All I'd say is that they'll need to get their skates on and make a bid this week, before the placing goes ahead.

In effect, the stock market is voting for the 33p offer right now.
The directors need to recognise this before either the bidder goes hostile, or before the FCA step in. The market is making a mockery of their claim to be acting in shareholders' best interests.

Hi Sotolo!
Yes, the dollar is down over the last few days.
But wait a bit for the market to realise that our Covid recession is the deepest of all developed economies, that we have printed more money than our competitors in response, and that we have no workable plan for Brexit. I predict that we will see £1:$1.20 again soon. And maybe £1:$1 if the market loses faith in our government completely.
Other than currency effects, what HOC needs is a confident statement from the board that production is restored, and that gives revised guidance. It is the lack of clarity that is killing the share price at the moment (IMO).

Hi Stoodio!
My money says it's a big fluffy Maine Coon.
I'd guess that this morning's RNS means that the final results will come next Monday as well.

https://www.investegate.co.uk/hummingbird-res---hum-/rns/completion-of-the-acquisition-of-kouroussa-project/202009010700105467X/

This rather dull news item (repeated over and over again) is why I'm optimistic about the gold price in the medium term. Funds like this would NEVER have invested in gold a few years back:
https://www.kitco.com/news/2020-08-31/Ohio-Pension-Fund-jumps-into-gold-market-with-5-allocation.html

Hi AdamSmith!
Yes, I believe all the gold ever mined would fill up an Olympic sized swimming pool. But all the platinum ever mined could be contained in a large room. As for all the ultra-expensive rhodium ($12,000/oz) ever mined, that would fit in little more than a large cupboard. Historically, platinum trades at a long run average price ratio to gold of 1.25:1; now it is less than 0.5:1; so there is room for a lot of mean reversion. Anyway, if you have any questions about PGMs, feel free to drop by the SLP or THS boards.

The institutions must have had enough of Boohoo by now, so I'd go for less than 200p by the end of the week. PIs can't soak up that many shares on their own.

Hi Supercharger!
I think you meant silver over $28!
There has been a decent size move up in silver since trading closed on London on Friday, so tomorrow morning should see a jump on opening (we hope).

Hi Jammer!
I don't know if you're interested in my views, but I regard JLP as a bargepole stock. There have been way too many misleading and deceptive RNSs, and a few plain bad corporate moves (e.g. Kabwe). Oh, and the Chairman is the notorious Colin Bird.
If you are looking at platinum group metals, (and that I would support), then SLP and THS (or even Northam or Impala) are far more solid companies.

The sloth-like pace of the courts in Egypt always makes me think of Hamlet:
"For who would bear the whips and scorns of time,
Th'oppressor's wrong, the proud man's contumely,
The pangs of dispriz'd love, the law's delay,
The insolence of office, and the spurns
That patient merit of th'unworthy takes,
When he himself might his quietus make
With a bare bodkin?"