|Athol Gold Limited
||ORD 0.25P (DI)
||EPS - Basic
||Market Cap (m)
Real-Time news about Athol Gold (London Stock Exchange): 0 recent articles
|noirua: Still the same at 0.33p NAV -- no chance what-so-ever. They hold many PLUS market stocks that rarely trade and when they do it is often at a price well wide of the price last traded -- little chance of liquidating these.
Since the last NAV almost every gold stock has fallen and the last to do so was Chaarat Gold. Norseman is TW's perceived biggest faller both in share price and asset loss -- TWs' interests are a major holder, over 5%, in NGL ASX:NGX.
Still, TW has said he will be taking, what appears to be the helm, at Athol and that in itself is encouraging. He looked a bit down in his recent update on AHG, not bombed out indeed, but maybe, just maybe, ATHOL and TW will ride again.
I will continue to add at 0.15p when the chance comes round again, if.|
|naked trader: Bought in on the RNS regarding no reason for reduction in share price. Now realise I was mugged!|
|baz9707: WSI failed company rivington street making mony from all the deals pis shifted
Note to self do not be temped even though the NAV is higher than the share price.
They could not sell most of the shares even if they wanted to.|
|pre: what's clear in the rns is that even management can see that shares trade at a substantial discount and they are in the process of concluding transactions at a price materially above current share price....the cat's out the bag:-)))))|
|marab: Uranium is very popular at the moment but GCL who invest mainly in Uranium miners has a 10% discount at the moment. AHG is, even after its recent fall, trading at about a 40% premium and on top of that TW gets 25% of any NAV increase. Note that new capital can be raised at NAV and not share price, and the last placing was made at roughly three quarters of the share price. So share price circa 1.05p and cash raised at 0.83p. Repeat that a few times and work out the long term share price trend for yourself. TW investing by buying normal shares in the market is not the reason people first got involved here, but it is the reason that most have left. I started this thread but have sold all my AHG when I worked out what was happening here. I don't think you should just take my advice and wolstencroft's but I think you should bear it in mind when you work out whether to buy here.|
RNS Number : 1338A
Athol Gold Limited
26 January 2011
26 January 2011
ATHOL GOLD LIMITED (AIM: AHG)
("AHG" or the "Company")
Athol Gold NAV, Performance Fee & Issue of Shares
The board of Athol Gold is delighted to announce that its fully diluted NAV has increased from 0.22p on 26th October to 0.617p on 25th January - an increase of 180%.
Athol Gold 's investment strategy is to invest in gold and precious metal companies quoted on stock exchanges in the UK/Canada and Australia. Its investments and assets as at 25th January 2011 are split as follows:
Value of investments quoted on UK exchanges GBP2,689,710
Value of investments quoted on Canadian exchanges GBP155,455
Total Value of Assets GBP2,865,914
In calculating the NAV the fully diluted number of shares in issue has been arrived at by aggregating the 18,000,000 shares that would be issued if outstanding loan notes were to be converted into shares with the 446,284,866 shares currently in issue. Accordingly the number of shares that would be issued on a fully diluted basis is 464,284,866.
According to the management agreement signed with t1ps Investment Management IOM (TIM) it is entitled to a fee payable quarterly in shares of 25% of the uplift in NAV per share in each quarter with no fee payable on the percentage of fully diluted equity owned by funds managed by TIM.
The agreement states that the fee shares should be issued at NAV but in order to align TIM's interests with those of all shareholders, TIM has requested that the shares be issued at the closing share price on 25th January, 1p. On this basis the Company will therefore issue 32,901,200 new shares to TIM in respect of its quarterly management fee.
The watermark for performance fees in the next quarter will now be set at 0.617p and the number of shares calculated to be in issue on a fully diluted basis will increase to 479,186,066. Athol will next announce the NAV as at 26 April 2011.
Issue of New Shares
Pursuant to the issue of the new shares to TIM, application will be made for the admission to AIM of 32,901,200 new ordinary shares ("New Shares"). Admission is expected to occur on Wednesday 2 February 2011. On admission, the New Shares will rank pari passu with the existing ordinary shares in the Company.
Total Voting Rights
Following admission, the Company's enlarged issued share capital will comprise 479,186,066 ordinary shares with one voting right per share. The total number of voting rights in the Company is therefore 479,186 066.
This figure of 479,186,066 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
|marab: wolstencroft, the very point I was trying to make in post 648. One wonders where Bridgewater is getting the shares from.
scotty, I will reword my post. TW said that every 10p on the Ascot share price would add 0.1p to AHG shares. With Ascot at roughly 50p and Athol at roughly 1p you can get 50 AHG for the price of 1 Ascot share. If Ascot goes up 10p, your Ascot share is worth 10p more, but your 50 AHG shares has gone up (50 x 0.1p) ie 5p. Then take off the 25% performance fees to TW funds and you have about 3.75 - 4p depending on how many shares TW's fund has sold off by then. I had presumed that the other investments would be comparable with the Ascot one, and would make a significant contribution to NAV, but apparently they haven't moved in value. As there are no details on these investments one has to presume they are straight forward share purchases, so no great reason for paying 25% of any gain on them that I can see.
In addition, as I have already said, I don't like the fact that TW and associates tipped AHG then sold when the price went up. I also don't like the fact that there was no information available regarding AHG investments as 'the board has yet to decide policy on disclosure', yet this did not seem to be a problem at Minesite where some of the investments were listed by name. And on top of all that, share holders have to pay 25% of any NAV to TW and associates. To quote TW "Now you may say our management fee is greedy. Yes I suppose it is." Also TW doesn't see the point in filling out lots of paperwork just to keep share holders informed.
So what exactly are share holders getting from TW? That is of course for individual share holders to decide, but the circumstances are not the ones I expected when I invested here in the first place. Some may think that this is just a deramping exercise as I have sold my shares in AHG, but hopefully those that have been here longest will know that I have always tried to have a balanced thread and I feel that the above points should be considered. I should also point out that deramping this stock would be of no benefit to me as I see no reason for reinvesting here. I do own Ascot shares. I have added the stocks mentioned at Minesite to the header, but there was no information given on them other than the names.|
|marab: VMP was one of those lucky moments and I did expect it to come crashing straight back down again, but it does look very interesting for the future. I finally opened an ISA and stuck some WAS and GCL in it. Need to look more at WAS but potentially interesting. MNC I will have a look at tomorrow. DXR is going through one of its boring periods but I notice that the share price is slowly creeping up. I am way passed fully invested in it so will just wait and see. If it goes anything like AHG it will be worth the wait.
Talking about AHG, I find it hard to believe that TW had much to do with the wording of the 'trading update'. The price action today I am positive is due mainly to that ..... .... ....... (insert your own words). Only someone lacking in basic common sense or a great desire to lower the share price could have produced that wordage. I would like to think that the former doesn't apply to TW and the latter would not do him any good at all. We may have to wait until January for the damage to be rectified, but it would be nice if someone at AHG had a go before then. I feel that this could taint AHG for a time if something isn't done soon. It would be interesting to know who was responsible. I suppose it's worth remembering that TW is employed by AHG to pick stocks and it is not currently part of his duties to issue RNSs.
The great thing about typing is that it gives you the opportunity to change your words before releasing them to the public. My first draft was a bit different.|
|marab: ravel, bert, I think most of the people on this thread are in for the longer term. The share price can do what it likes as long as the fundamentals don't change. We are basically here to let TW do the hard work. I know little about TW but have gathered the impression that he is not prone to hiding his progress. I believe (pure theory) that the board of AHG will eventually let TW decide on the what and when of publishing updates. At that point I would expect regular updates even if they are just every 3 months. I am hoping for more detail on what AHG are invested in but appreciate that there might be reasons for keeping some of it secret eg. ongoing investment in a stock. TW has two ways of getting a gain on his investments here. Either the share price goes up, or he gets performance shares on the NAV rising. Both will probably be linked so it is in TW's interests to give us what info he can. He has been investing for long enough to know what lack of interest does to a share price. All pure guesswork on my part.
Bert, in regards to the header I find that the more info there is in one place the quicker you can decide whether to invest or not. I know a lot of people ignore headers but often they are well worth a look. I liked Kennyruss threads because there was a pile of info in the headers, and he put in a lot of effort to help me with the first Athol thread. I am a beginner at this sort of thing and am happy to hear comments and criticisms. Lack of experience may prevent me from following up on them, but I will do my best. It's very easy to get carried away with something if there is no third party feedback so feel free to comment at any time and no offence will be taken at posts pointing out errors. The more accurate the thread the better the decisions that can be made.|
|marab: I have been asked how many performance shares TW (TIM) will qualify for if the share price doubles. The answer is - none. TW gets rewarded on the value of the NAV and the share price doesn't come into at all. Good definition of NAV on http://moneyterms.co.uk/nav/
"The total value of a company's assets less the total value of its liabilities is its net asset value (NAV). For valuation purposes it is common to divide net assets by the number of shares in issue to give the net assets per share. This is the value of the assets that belong to each share, in much the same way that PE measures profit per share."
TW example from the Q and A session in the heading.
A. It is NAV per share that you should look at. If the company has £100 and 100 shares and it raises another £200 at £2 a share then NAV goes to 1.50 per shares which is GOOD for shareholders. If it raises another £200 at 50p per share then NAV per share goes to 60p. That is bad.
The share price is only a reflection of how investors look at the future potential capital and/or dividend growth of the stock. If TW can keep doing deals like the Ascot one you could reasonably expect the share price to be higher than the NAV. Many investment trusts and companies have a price less than the NAV, some up to 50%, depending on how popular the area of investment is. SVE's share price for example had a large discount to NAV the last time I looked but has a portfolio of good shares. What will make the difference here, in my opinion, will be regular updates on what TW is investing in so we can follow his progress. I personally find it hard to keep much interest in a stock when I have no clue as to what it's doing. Look at DXR, HRE's 'sister', to see the effect of no news. (Incidentally, you might want to look at DXR which will be investing in silver related stocks, but hasn't invested a penny yet). At the end of the day the only fundamental factor in the price of a share is whether investors are generally inclined to buy or to sell it.
From the Q and A in the header (with thanks to Kennyruss for collecting the questions from us and arranging for TW to answer them),
Q. What are the current share holdings for HRE?
A. What does HRE own? The board has yet to set a policy on disclosure.
I think that at the moment the share price here is holding up quite well bearing in mind the only investment we know about is Ascot which was only about a third of the investments in cash terms. Fans of TW might be an additional reason for the share price. Holders in his t1ps gold fund might be looking for the same performance here.|
Athol Gold share price data is direct from the London Stock Exchange