I have decided to add a little to Polo Resources. The underlying holdings seem to be moving up in value – and the discount to NAV is now 75%. I bought at c4.3 earlier in the week. Only a small position – 2% portfolio weight added, 3% in total.
Selling all my KMG today.
Tender offer has been made for $14.00. Slight unanticipated problem is that Kazakhstan has 20% withholding tax and to get it net of tax I need to submit an array of documents via my broker and trust that no-one along that chain messes up / decides I am liable for 20% tax.
Just done my final performance numbers for 2017 – I recon the figure will come out at +c37%.
This isnt bad compared to FTSE AS Total return in GBP of 12%. Volatility has been minimal – maximum monthly drawdown was 3.8%.
Brief post sold half my Kryptonite 1, for a modest 156% gain. I say modest as pretty much every crypto related co or asset has outperformed KR1 since I got in.
I am not happy with their continual sub-share price placements – good for their connected friends and management but not other shareholders such as myself. This, however is an irritant / contributory factor rather than the reason I am selling. I also looked at the polkadot investment that others seem to rate so highly and to me they have invested £1m in something with no clear way to get the money back. It could be that I dont understand it, or that I do – and it wont make money. It equally could be that it wont make money and will go up anyway – in a market like this it wouldn’t surprise me.
Just put a very small position (1.4% portfolio) in Infrastructure India Fund at 3p.
It has come up on my screens a few times but is now too cheap to ignore. This is highly risky stuff but has very good upside – if it all plays out. I can see a multiple of the current share price in a year or two.
Added a 9% portfolio weight to PVCS at 21.68p a share.
This is a solar manufacturer which has just won an arbitration case against a customer who refused to pay up. This has been quite well covered in the Investors Chronicle and elsewhere so only a short post on this.
Lots of Thai’s and Cambodians are reading this. I find it odd as I have never covered anything related to this.
Would any of you be so kind as to leave a comment and explain ?
Decided to sell stagecoach – quite a heavy loss of 30% (adjusted for dividends paid).
Catalyst is strike news (though I dont think this will really have much effect) but actually for a while I have thought I was too early with my decision to go into this.
The logic is correct but I am much too soon.
I will look to re-enter at a more favourable price / time.
Sold all my Symphony International on Monday at $0.8625.
Discount has narrowed substantially – it’s now got a NAV of $1.16 so trading on a discount of 25%. When I first invested in this in January 2014 the discount was 45%.
The NAV / discount has only fallen slightly – even though the share has paid out quite a lot 35c. Underlying assets have done quite well.
Good news on Tejoori – they are delisting and returning cash.
There is something of a hurdle to be reached as they need 75% of shareholders to vote in favour of delisting in order to get the cash back. Cash is worth about $0.63 a share – less delisting / liquidation costs.
Though the spread is quoted as $0.47-0.52 you can actually buy at 0.5 in reasonable size.