Member Info for x66rjp

The time spent on this will have generated large costs for the SFO so finding an employee guilty doesn't look good from my perspective as they have obviously proved bribery has taken place. If he has used company funds for this then it's hard to see a defence as it has happened. I do agree with you Paddy though in that this stuff can become fish and chip paper quite quickly so fingers crossed for some movement and people forgetting about this while it cooks away in the background.

Under the UK bribery act (2010) you have to demonstrate you have adequate procedures to prevent bribery - both giving and receiving. It is a corporate offence to fail to prevent bribery - the key defence is having adequate procedures. It's difficult to see there not being some sort of fine albeit there would need to be a case and so on as described to get to the bottom of how a lower level employee could execute a bribe.

2019 financial statements show gold production of just over 480,000oz, plan for 2020 was 510,000 to 540,000oz.
If stage 4 West Wall only contains 90,000oz and not all of this would be mined in the current year anyway the impact shouldnt be that great and partly off set by the increase in the gold price in any case?

"The forecast for 2020(3) is gold production of 510,000–540,000 ounces at an AISC(1) range of US$870–US$920 per ounce sold. Production is weighted to the second half of the year, due to the open pit mining sequence, with an approximate split of 45:55. The open pit will do most of the heavy lifting in 2020, contributing 80% of the ounces we expect to produce, as we are mining deeper into the pit in Stage 4 and accessing higher grade ore than in previous years, while the underground focus is on infrastructure upgrades to enhance future production".

Makes sense - and I guess they will still have a decent holding even after selling. I wish I had bought these shares earlier (how many times has that been said) when it was below £3. Looking at the eps and pe ratio for the latest financials this now feels a little overvalued. Like I said its that heart/head thing - I want to buy as its where I have an interest.
Anyway - that jlc is a beautiful watch. I like jlc as they do their own thing and are unique but also instantly recognisable. I dont own one (yet), only rolex and omega at present but maybe down the line. Rather boringly my grail would be the daytona although that takes me into Zenith also being the company who provided the movement at one time. Too many watches and not enough money (and a wife to have to explain it to also....).

I am not a holder but I am into watch collecting so its kind of a heart/head decision on investing here. I am slightly curious to know if anyone has any info on why a major shareholder is selling a chunk of their stake?

In terms of the Rolex market it remains buoyant and I imagine people are still attracted to buying Omega etc and using the 0% finance on offer. WOSG obviously have the headache of rent and so on for their stores but feels like their products remain in demand.

https://www.morningstar.co.uk/uk/news/AN_1600102093067215100/jewel-holdco-looks-to-offload-12-of-watches-of-switzerland-stake.aspx

The silence isnt great but no news is good news I guess. Though the silence fuels uncertainty. Bizarre approach in some ways as if a rights issue was on the way you'd think they would try to buoy the sp a bit but its just in decline. Not really sure what to think - ultimately have to wait for the update.

I would say its a candidate for a rights issue but not sure what price they would have to pitch that given the current sp. Thats the danger of averaging down - rights issue is announced and you have more shares on which the issue is based ending up with more cash in this business than you would ideally want. Clearly this business has the benefit of being diversified but its impossible to ignore that high costs of the cruise business. Sept update will hopefully tell us more....the silence is deafening.

This is getting silly now....keep thinking its hit the bottom and then it goes down a bit more. Sitting waiting but getting very close to a time to average down here.

https://www.bbc.co.uk/news/entertainment-arts-53664564

How do you know they're bookings and not blocked for social distancing? Probably a stupid question but funny how two of you have said 46 seats booked - could be coincidental I guess.

Agree Moola - I dont see the value in realising losses if you believe the company will recover. I get Dream point of view as a trader but as a long term investor it doesnt make sense to bail. Its now a lot cheaper to buy shares to average down - obviously a risk but fine as long as you are happy with that risk.

Dream - what is your view on the outcome here? Cine bust in 6 months?

If you believe in Cine then buy more to average down. Why sell and realise a loss - I dont understand that. People on the BB have different targets/motivations (e.g. shorters / traders / investors) - ignore the noise.

Depends on what your average is on both counts. I first got in at 77p, averaged down at 57 and again at 47. If your average is 70 then I dont see 1.40 popping up anytime soon. I see this dropping into the thirties as cant really see much just from the cinemas opening the doors.

I think the bigger issue is covid and how the economy recovers from that that will have the biggest short term impact on sp. The new CEO won't have much control over that outside of looking at the finances and preparing to get the cruises going again and giving people confidence to step on a ship again. Hoping the new CEO brings a change in the sp trend - I didn't know the CEO was from retail. On first thoughts it sounds odd - you'd think it would be someone with a background in financial services with insurance being the largest part of the business.

Agree things getting back to normal will boost the sp but its hard to ignore that over the last 5 years the sp chart looks like a set of steps (one step down being covid). There isnt much upward trend for a sustained period - its held position or dropped. Hopefully its scrambling along the bottom and once things return to normal there will be some movement in the right direction.

I agree on needing new ideas - feels like a business on the slide. I jumped into this share too quickly but have some faith it'll come back to some extent (just could be a long wait now).

Close sp of 15.43 - top up time tomorrow morning to average down. It surely can't go too much lower without a negative RNS being the reason for these quite drastic drops (8% today).

Which they inevitably will. Share feels oversold at the moment so will keep an eye and add on the drops.

I have just added more so average now 69p (so still losing). Will add more if it drops as happy to hold long term. At one point this puppy will turn and point in the right direction.