Just put a small (3% portfolio weight) into KazMunaiGas (Exploration and Production).
This is an unconsolidated subsidiary of the Kazakhstan National Gas company. This subsidiary is quite a large company – worth c$4Bn. The value of the cash / current assets is about $10.1 per share (more if you exclude treasury shares) whilst the share price is about $10. In effect, you can buy an oil company pretty much for free.
Continue reading “Kazmunai Gas – Minority Stake trading at near cash value, likely to realise soon” →
Exited KR1. The price went up a bit from my entry at 3.75. Coupled with this, the price of the underlying crypto fell quite a lot – 20-30% following China’s ban on ICO’s. Nothing like good timing – and this was nothing like good timing….
This left it at a discount of about 10% at one point, so I wasnt inclined to hold. There has also been quite a bit of selling of KR1 – today all trades were pretty much sells…
Continue reading “Exiting KR1 – 4.5p +15% – not enough upside” →