Evil Diaries: Developments
I have tended to hold back on commenting on companies where the chairman is a prominent feature since this only leads to ribald comment that I am repeating his master’s voice. Therefore when Manx Financial (MFX) came out with terrific results a few days back I stayed schtum. But at 9p offer MFX was less than half tangible net asset value and on a PE of 3 – with a yield in prospect as well. Eventually, a few days later, the market caught up and MFX is now 12p offer. I cannot think of any reason to sell.
And today it is announced that Jim is taking the chair at Condor Gold (CNR). I cannot think of any reason why one would not buy.
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The Mashley’s Frasers bought c. 5% of NBrown (BWNG) a few days ago. BWNG is now 25p offer. If this price stays there I am taking up work. Of course the Alliances know what they are doing but it may be better if The Mashley relieves them of the work in hand. I suppose 50p is the first stop.
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Caribbean (CIHL) is being taken over by Waterloo Investments (WIHL) with 1.25 WIHL for each CIHL. There is talk of a dividend. I would like to be clearer on all this if it were not for the fact that the chairman is trappist by nature. However enquiries at JP Jenkins do not disclose any price for WIHL. Apparently they last traded in December 2021 at 36p. I doubt if that applies now. But I smell money on the way.
did you ever publish your thoughts on REA
Reason to buy Condor because Jim Mellon is chairman? One Question: when will Condor start to pour Gold? What is driving value? I would suggest that the amount of Gold is the salient feature, rather than the weight of a posterior on a chair.
Further update on Caribbean investment holdings would be great
Thanks
N Brown
Cash value per share is ~10p. I mean, thats 50% of the current SP. Crazy
Book value per share is now around £1!
50p needs to be the minimum
Thanks for comments on MFX. However i had NAV at 27p a share was this wrong?
Also no mention of the 50% stake in Payment Assist which looks like a massive game changer?
I see 40p very soon here
Hi Simon. Thank you for the update on CIHL. I have been attempting to find current information about WIHL but my brokers (Hargreaves Lansdown) do not deal on the Bermuda S.E. & can’t advise me as to who does. Any idea who does? Thank you for your ever entertaining & informative posts. Regards. Malcolm
Just because something is cheap, does not mean it cannot get cheaper. Remember last minute dot com in the tech crash when it was at 20p and had cash of 40p?
Not saying that is the case here but when the business is in for free then you know the bottoms not far away. I will look again if they get to 10p.
Hmmm…….. Allied Minds was a recommendation -that has dropped by about 75%