Natasa Min Share Discussion Threads

[hugepants] 07/7/2011 11:07

I reckon the NAV here is prudently 115p. They have in excess of $50M funds, probably more looking at the last results and the $2.3M profit since the balance sheet date. Thats 105p. On top is the UEP stake. The current value of the UEP stake is approx 30p per share but it looks overvalued. If its worth 10p then total is 115p.

You seem to be able to buy at 64p and sell at 59 so current share price is 61.5p. Thats a 46% discount to NAV.

When they return the 21p per share then for the 46% NAV discount to be maintained the share price should only drop 11.5p to 50p by my calcs (the new NAV is 94p).

[hugepants] 07/7/2011 10:45

Probably end of July onwards would be my guess jay.

[jay083] 07/7/2011 10:25

anyone know how long it might take them to return the cash - can't see it mentioned anywhere. Given thats what this loan was supposed to be about, I'm guessing end Aug?

[hugepants] 05/7/2011 11:04

Is there any logic to UEP being valued at £12M?

[hugepants] 30/6/2011 08:48

I dont disagree adam. I doubt risk/reward stacks up.

[adam] 30/6/2011 08:43

> the value of Murray's shares

How do you know, for example, that the shares do not already have lien, unbeknown to NSN? In which case if Murray goes pop, then NSN will lose the lot.

but even without the risk and the pathetic return, you have to ask yourself why.

...why did CK stand aside if he has "no connection"? Who proposed then deal?

[hugepants] 30/6/2011 08:03

I understand this loan is effectively an advance on the cash Murray will receive from the imminent capital repayment. NSN get a return of approx 2.5% annualised versus squat since dollar accounts are getting not much more than zero interest just now. Clearly the value of Murray's shares more than cover the loan amount. Its still an odd looking deal though..

[mpclag] 30/6/2011 06:55

have faith-I'm sure theres more going on behind the scenes!

[giant steps] 29/6/2011 23:27

What a nonsense arrangement; very little PI's can do to stop this behaviour

[andy] 29/6/2011 23:24

Adam,

I agree, this looks a ridiculously small reward for risking $6 million!

It clearly doesn't seem to cover the total loss of interest, and it will be interesting to see how this runs........

[ducatiman] 29/6/2011 20:23

maybe murray will use the cash to buy nsn stock, lol.

[daytraders] 29/6/2011 20:06

If we had to borrow that sort of money we would be paying big interest or have to give away equity.

[hugepants] 29/6/2011 19:58

This looks bonkers. Anyone know how many shares Murray Morgan Investments Ltd hold?

[thelongandtheshortandthetall] 29/6/2011 08:06

anyone going to egm?

[daytraders] 22/6/2011 12:24

Hugepants, when you fill in your tax form online, in the CGT section it asks you to list your shares either in the listed section or unlisted section, i think listed means on a recornized stock exchange and unlisted on a non recornized stock exchange like aim, if its isa'able it means its listed as it must be tradeable on atleast 1 recornized exchange, thx for reply.

[b2l] 22/6/2011 11:41

they call it "repaymant of capital" and not "dividend"

i didn´t pay any taxes last year

[hugepants] 21/6/2011 22:23

Daytraders, I thought it was irrelevant whether its listed or not.

Anyone know how this forthcoming cash distribution is taxed? I cant find any info in the circular.

[daytraders] 16/6/2011 14:39

guys is NSN classed as a listed company for CGT purposes ? cheers

[jay083] 09/6/2011 09:17

a 2p increase on the bid equates to another £4m in valuation to NSN - considering the mcap is £20m not insignifigant. the way things are going, wouldn't be surprised to see uep worth more than nsn!

[hugepants] 09/6/2011 09:05

UEP up 43%
Makes you think these oil licenses in Papua New Guinea may have significant value.

[jay083] 09/6/2011 09:05

uep doing well again....these guys aren't too bad at picking winners..

[someuwin] 08/6/2011 09:24

Still looks too cheap - shurely.

[jay083] 07/6/2011 16:01

Also, I wonder whether a buy back was considered - i think it would have been more effective at narrowing the discount than a return of capital - mainly because of the lack of liquidity.