AFF Member Stock Discussion

[Dave G]

Wow - VentureX is going bananas - post announcement of BB joining !.
Got scaled back on our Calima application unfortunately though.
Now to decide whether to take up the Carbon Revolution entitlement offer - niche business - but hey - apparently everybody is buying ferraris during covid ?????

 

[cove]

The prices of commodities are going quite ballistic so mining execs can buy toys.
Copper, nickel and manganese are three of our favourites.
We saw Carbon Revolution wanted more funds and their offer looked attractive.

 

[cove]

Put in a bid on a high grade copper prospect in Arizona today. Copper price is strong.

 

[FromTheRail]

Put in a bid on a high grade copper prospect in Arizona today. Copper price is strong.

I'm big on copper

 

[Dr Ralph]

Any thoughts on the WAM Strategic Value Limited (ASX: WAR) float?

 

[RooFlyer]

Put in a bid on a high grade copper prospect in Arizona today. Copper price is strong.

Not a former BHP one, I hope? What particular mineral? BLM land? (If you don't mind me asking ). I've walked them thar hills, g-pick in hand.

 

[tgh]

Do you hold investments in rocks, Rooflyer ??
#1 son, immersed in big pharma, has a very large holding of CSL (among others)

 

[RooFlyer]

Copper, nickel and manganese are three of our favourites.

I looked up Murrin-Murrin and was surprised to find it in production. I visited it for an investment bank when the plant was being developed by Andrew Forrest's Anaconda. The investment report said AVOID.

The Avebury deposit in western Tas is a nice one, was developed to just beginning production but then the Ni price dropped and they shut it. Bought by the Chinese (Dundas Mining... ) and being re-opened.

 

[RooFlyer]

Do you hold investments in rocks, Rooflyer ??
#1 son, immersed in big pharma, has a very large holding of CSL (among others)

Only BHP. I got out of all my other mining/exploration stocks when I got out of the industry, 4 years ago. Ya gotta be right on top of everything to hold other than the big miners in that sector. Half a day and the opportunity's gone (and if its a South Perth company, the timeline is minus half a day )

Correction I also hold 75,000 WRM because I know the MD What are mates for?

Banks, Vanguard ETFs and a few other good divi payers are my core holdings now. Last year was the first year for me in retirement and 'franking credits' were my friend.

 

[Mr_Orange]

Any thoughts on the WAM Strategic Value Limited (ASX: WAR) float?

I've got my eye on it as a WAM Capital holder. I need to understand what it is going to offer though.

 

[cove]

It is near Yucca in Arizona @RooFlyer. Fortunately they don’t call themselves No Hope Mining. In April there was a 5% Cu drill hole result at Antler. It is New World Resources looking in an area that was mined up to 50 years ago. Very early stage where they raised some funds this week.

 

[RooFlyer]

It is near Yucca in Arizona @RooFlyer. Fortunately they don’t call themselves No Hope Mining. In April there was a 5% Cu drill hole result at Antler. It is New World Resources looking in an area that was mined up to 50 years ago. Very early stage where they raised some funds this week.

Thanks Cove. I watched their corporate RRS presentation from Nov 2020 on Antler (and their May 2021 one), and it took me back! I haven't wandered that area, but several others in Arizona (and lots in Nevada, some in New Mexico, California, Colorado) and the words that stood out for me were 'privately owned'. Now, not being BLM land is good, but 'private ownership' is something you should keep an ear attuned to (but you are an old hand at this - forgive me for telling you to suck eggs). For the benefit of others - in the USA, the 'apex' law applies ... the owner of surface rights usually has underground rights, and as the properties (with overlapping grazing rights, surface mineral rights, water rights ...) are sold on and on again, there may be a significant accumulation of possible legal claims (not always obvious until you find something!) and even royalty accumulation. These issues killed off half the projects I looked at.

VMS excellent targets and what he said about clusters is spot on. I don't like him using 'Copper equivalent' - too much Zn and Pb can get hidden in there. But that's just a grizzled old geo talking. Overall FWIW: not bad, not bad at all.

 

[moa999]

Any thoughts on the WAM Strategic Value Limited (ASX: WAR) float?

A weird one (certainly not going to pop).

For various reasons many LIC/LITs tend to trade at discounts (liquidity, liquidity in underlying, trapped credits, high fees). This fund is setup to buy them and add more fees on top.

It's also interesting given other WAM funds have previously acquired undervalued LICs to release value, so it's not clear if this prevents that on the future

 

[cove]

Have had Long Short Fund more than double from their low and pay a dividend. LSF still sells at a discount to its net worth.
Ophir on the other hand has been trading higher than their net worth. OPH units have gone really well.
We have two LICs run by Euroz Harleys which are OZG and WIC that both pay dividends but sell at a discount to their net worth.
We like assets at a discount. OZG has the biggest discount but the smallest dividend out of those two.
My son is perplexed on why Perenti PRN has sagged after paying a dividend. Seems contractors are out of favour.
Buying Cromwell CMW around 79 to 81 has worked nicely as they are paying a quarterly distribution and went up 10%.

 

[MARTINE]

So … I finally sold last of my APT in tranches.. It was always part of my ‘see how it goes’… bought for peanuts three years ago (well spent) with good six figure profits… Now decluttering the losers for some balance. More than happy w my decision - lots of competitors in this space and glad I never bought at $100plus

 

[Mr_Orange]

My son is perplexed on why Perenti PRN has sagged after paying a dividend.

That is pretty normal behaviour for any stock paying a dividend. If the price continues down, that has nothing to do with the dividend.

 

[cove]

If your tax rate is 47% you might like Aspen APZ having about 70% of their distribution of 6 cents not being taxable. The current managers of Aspen seem to know which way is up. The previous managers created some really big tax losses because they could.

 

[cove]

Well @MARTINE you did way better than us on APT which would not be hard. We were there at the start and sold them when they doubled.
Our best ones are United Overseas Australia UOS and Resimac RMC which are up more than 20 times. Of course those two have been over a decade or more in getting there.
With Aspen we got mislead and nursed a big shortfall on our entry price when they declared a $100 million loss. We are in a good recovery there and the distributions are helping. We expect to be at breakeven later this year.
We spend much more time on the red ones rather than the green ones.
We have invested in four unlisted Ophir funds and they have outperformed us by quite a lot.

 

[MARTINE]

Thanks Cove I will look into those two.

For now .. on prowl for next CSL (being in medical field).
Bought a nice little stock called SPL for90c which sells a nasal route antiviral (used as spray and now sold in UK pharmacies since early this year with Covid effectiveness ). In addition they sell products that enhance chemo drugs efficacy. Hit over $2 but now about $1.80 I think.

CYC - radiopharmaceutical producer I bought for 2.50 last month and nicely rising (given how this field of medical imaging modalities has grown exponentially and they are seeking FDA approvals in US ).
My thoughts..

 

[cove]

Yes we have CYC too. Waiting for the FDA can be quite a long wait. Patience can help.