Jump to content


Photo
- - - - -

Pallinghurst


  • Please log in to reply
72 replies to this topic

#41 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 24 March 2015 - 04:43 PM

Based on the results the NAV is close to 740cps, stock trading at 375c now.  The discount is too big, I believe 35% is more appropriate so the shareprice closer to 500c


  • 0

#42 Shortboy

Shortboy

    Advanced Member

  • Members
  • PipPipPip
  • 451 posts
  • LocationSouth Africa

Posted 24 March 2015 - 01:41 PM

35% increase in profit - very good

 

35% increase in profit - very good

 

35% increase in profit - very good

 

35% increase in profit - very good

 

35% increase in profit - very good

That profit figure was amazing and I was surprised to see such a small movement in the share price so I checked the year end financials. The "profit" is in fact a fair value accounting entry, not actual income. When you check the cashflow statement Pallinghurst actually had a negative operating cashflow for the year.

 

As a potential investor, all I want to see is a simple easy to understand segmental breakdown of each investment's income&expenditure, balance sheet and cashflow statement so I can see who is making what. Then Pallinghurst should provide in BOLD the net effect on the actual net earnings per share of all the management and performance fees they charge - I found those tucked away at the back of their 2013 accounts. :wacko:

 

This is one of the reasons why investment holding companies virtually always trade at significant discounts to their net asset values - opaque financials and high management costs.

 

Hope your trades work out. ;)


  • 0

IG SA40


#43 M e r l i n

M e r l i n

    Advanced Member

  • Members
  • PipPipPip
  • 248 posts
  • LocationSANDTON

Posted 23 March 2015 - 09:34 PM

35% increase in profit - very good

 

Pallinghurst almost trebles annual profit http://www.bdlive.co...s-annual-profit via #BusinessDay


  • 0

People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)

 

 

 

 

 


#44 Sugafoot

Sugafoot

    Advanced Member

  • Members
  • PipPipPip
  • 303 posts

Posted 23 March 2015 - 07:00 PM

Pallinghurst almost trebles annual profit http://www.bdlive.co...s-annual-profit via #BusinessDay
  • 0

#45 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 19 March 2015 - 07:08 PM

http://www.dakotafin...eSpeed=noscript

Now we pray that gemfields rerates and drags pgl up
  • 0

#46 PickApprentice

PickApprentice

    Newbie

  • Members
  • Pip
  • 33 posts

Posted 19 March 2015 - 03:39 PM

Good luck on it - that is a serious lump of cash to be putting on a small cap!

 

Hope it works out for you man! All the best! 


  • 0

#47 MrDividend

MrDividend

    Advanced Member

  • Junior Member
  • PipPipPip
  • 213 posts
  • LocationCape Town

Posted 19 March 2015 - 03:37 PM

Okay investors, SoleTrader is now very long PGL - hero or zero, here we go! 300 000 shares at 335c average

 

Good luck on it - that is a serious lump of cash to be putting on a small cap!


  • 0

#48 Sugafoot

Sugafoot

    Advanced Member

  • Members
  • PipPipPip
  • 303 posts

Posted 19 March 2015 - 03:29 PM

Okay investors, SoleTrader is now very long PGL - hero or zero, here we go! 300 000 shares at 335c average


Time horizon ST?
I doubled my stake this morning at 334, but it's so small.
  • 0

#49 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 19 March 2015 - 03:26 PM

Okay investors, SoleTrader is now very long PGL - hero or zero, here we go! 300 000 shares at 335c average


  • 0

#50 M e r l i n

M e r l i n

    Advanced Member

  • Members
  • PipPipPip
  • 248 posts
  • LocationSANDTON

Posted 18 March 2015 - 09:05 PM

Sugafoot,

 

From the chart it is clear it has come off it's peak and is continuing downwards (for whatever reason), when I posted the last time it closed at 360, today it closed at 330 which is 10% down, that is the only point I was making.

The reasons are always unimportant and I am not inclined to sprout the technical goobledegook

- the only thing that counts is the result.

 

 

Merlin, what do the charts suggest?<br />Am I right in seeing that current price way below average price?


Edited by M e r l i n, 18 March 2015 - 09:05 PM.

  • 0

People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)

 

 

 

 

 


#51 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 18 March 2015 - 04:34 PM

I am buying more at these levels.  Their largest investment is in the listed GEMFIELDS, which, as we speak, is trading at 53p.  My NAV is still +700c a share.  If I value Sedibelo at R0, the NAV drops to 440c a share.  The stock is being given away, results in two weeks time


  • 0

#52 PickApprentice

PickApprentice

    Newbie

  • Members
  • Pip
  • 33 posts

Posted 18 March 2015 - 04:27 PM

Even if it looks cheap, a prudent investor would stay out of resources until there is an indication of a turnaround in resource prices. 


  • 0

#53 Sugafoot

Sugafoot

    Advanced Member

  • Members
  • PipPipPip
  • 303 posts

Posted 18 March 2015 - 08:16 AM

Merlin, what do the charts suggest?<br />Am I right in seeing that current price way below average price?
  • 0

#54 M e r l i n

M e r l i n

    Advanced Member

  • Members
  • PipPipPip
  • 248 posts
  • LocationSANDTON

Posted 18 March 2015 - 07:45 AM

Attached File  Pallinghurst.JPG   94.84KB   56 downloads


  • 0

People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)

 

 

 

 

 


#55 M e r l i n

M e r l i n

    Advanced Member

  • Members
  • PipPipPip
  • 248 posts
  • LocationSANDTON

Posted 15 March 2015 - 09:24 PM

NAV according to Investec is 571.18

 

Resources however not the flavour of the year, good crowd in bad sector thus subject to systematic influences, take profits if you can as the share is coming off according to graph.

 

Attached File  Palinghurst.JPG   71.62KB   54 downloads

 

Pallinghurst trading statement Pallinghurst is reasonably certain that earnings and headline earnings per share will be USc 7.00 for the year ended 31 December 2014 an increase of 250% compared to earnings and headline earnings per share of USc 2.00 for the year ended 31 December 2013. The significant increase in earnings and headline earnings year on year is primarily attributable to increases in the valuation of Pallinghurst's investments in Gemfields plc and Jupiter Mines Limited, which are held at fair value. The financial information on which this trading statement is based has not been reviewed or reported on by Pallinghurst's auditors. Pallinghurst's financial results for the year ended 31 December 2014 are expected to be released on SENS during the week commencing 23 March 2015.

 

 

PGL has written down the value of its investments in Sedibelo and Jupiter following the collapse in the platinum and manganese prices. Gemfields (their crown jewel and by far largest investment) is growing wonderfully. NAV at interims was US68c. I recon they going to write it down to ca. US60c or ZA750c. The historic discount to NAV is 35%. So value of PGL should be 490c. The stock is very very cheap

 


  • 0

People who think they know everything are a great annoyance to those of us who do. (Isaac Asimov)

 

 

 

 

 


#56 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 15 March 2015 - 08:57 PM

PGL has written down the value of its investments in Sedibelo and Jupiter following the collapse in the platinum and manganese prices. Gemfields (their crown jewel and by far largest investment) is growing wonderfully. NAV at interims was US68c. I recon they going to write it down to ca. US60c or ZA750c. The historic discount to NAV is 35%. So value of PGL should be 490c. The stock is very very cheap
  • 0

#57 Bits

Bits

    Member

  • Members
  • PipPip
  • 86 posts

Posted 14 March 2015 - 07:03 PM

Interim Heps 14 US cents per share.. Final Heps only 7 US cents per share.. 

 

Still a buy in my eyes, but that is an interesting change.. no?


  • 0

#58 rave76

rave76

    Member

  • Senior Member
  • PipPip
  • 152 posts
  • Locationcentral SA

Posted 14 March 2015 - 01:56 PM

cant  understand ,Sens comes out with good result and the share Tumbles, i am  very confused. 


  • 0

#59 SoleTrader

SoleTrader

    Little Master

  • Junior Member
  • PipPipPipPip
  • 507 posts

Posted 21 January 2015 - 04:40 PM

Sugafoot, they are giving the stock away at current levels.  GEMFIELDS trading at 50p, with Macquarie valuing the stock at 100p.  This will conservatively put Pallinghurst at a price of 900c.

 

So I have increased my position, just bought another parcel at 365c


  • 0

#60 Sugafoot

Sugafoot

    Advanced Member

  • Members
  • PipPipPip
  • 303 posts

Posted 21 January 2015 - 07:09 AM

Anyone know why the price is hitting 365c?<br />Is there a general onslaught on commodity stocks I'm not aware of?
  • 0





Sponsored by Sharenet and VPSNine Linux VPS Hosting