Anglo Pacific Share Discussion Threads

[quepassa] 22/4/2013 16:19

Yes. You are probably right. I hadn't checked for changes in Directors Interests.

The Ransomes Docks' holding is no longer listed as a Substantial Shareholding but a similar amount of shares is listed with one of the non-exec directors. So rather than being divested as I had perhaps erroneously surmised, they changed the listing of the stake from Substantial Shareholdings to Directors Interests.

But I don't understand why that director is not listed then as a Substantial shareholder.

Thanks for pointing that out.

ALL IMO. DYOR.

QP

[noslien] 22/4/2013 15:49

I am a bit puzzled by the reference to Ransomes Dock having divested their interest. Surely this is the beneficial interest of Mr Cooke, and is now shown as a Director's holding. As far as I can tell the shareholding remains the same?

What I do find interesting is that Directors control about 15% of the company (and don't seem to have sold over the past year) and 4 institutional shareholders have about 21%; so these players have significant "skin in the game". Presumably most of them are long term investors, and believe it is worth holding even if raw materials have taken something of a battering over recent months.

[gavapentin] 22/4/2013 13:27

No - for very seller there is a buyer etc
But forced sellers are different - maybe they were forced

[piedro] 22/4/2013 12:53

What, that Schroders have announced
5.8m so far this year?

[gavapentin] 22/4/2013 12:27

Explains some of the price weakness however.
Funds sell for a multitude of reasons.

[piedro] 22/4/2013 12:10

Be fair QP.

What about Schroders?
Inicial RNS 31-01-2013

DYOR

[quepassa] 22/4/2013 10:16

In the 2011 Annual Report, Rathbone Brothers PLC are shown as having a 4.84% shareholding of some 5.3million shares as at 24/2/12.

As at one month ago on 20/3/13 in the 2012 Annual Report, Rathbones are no longer shown as having a Substantial Shareholding.

This means that they have at least offloaded 1.84% , if not much, much more. Offloading 1.84% would bring them lower than 3% of APF which means it would no longer be listed as a Significant Shareholder in the Annual Report

This is another major instsitution selling approaching 2 million shares. And for all we know, perhaps they may or may not have offloaded much more than 1.84%.


Doesn't boost confidence for me at least when two Major Shareholders have been offloading millions of shares over the last year.


ALL IMO. DYOR.

QP

[haydock] 22/4/2013 09:40

Interesting QP. perhaps more relevant that they still have a large holding.

If you had not noticed the baby often went out with the institutional bath water of late.

[quepassa] 22/4/2013 09:23

APF's largest shareholder, Liontrust Investment Partners, off-loaded more than two million shares between April 2012 and March 2013 in APF.

From 9.2 million shares to 7.2million shares. From 8.44% to 6.56%.

ALL IMO. DYOR.

QP

[haydock] 22/4/2013 08:15

I must admit to wondering if its a case of familiarity & its not our thing, ie a royalty.
They have made one attempt to give part of it away, & seemed to misjudge the asset value altogether.

They cannot loose on this, but they can also misjudge the potential, & at the moment are missing opportunities to boost the share price with a development plan.

On the other hand if they do nothing silly, the world ie :infrastructure, is coming to their doorstep & they must see the financial benefits the neighbours will make.

Masterly inactivity, perhaps a specialisation of APF !

[gavapentin] 22/4/2013 07:53

A question...

Whilst I agree they haven't exactly been effusive about the Canadian Coal, could this simply be a case of they not rating it that highly or is it a case of underpredict and outperform?

[4spiel] 19/4/2013 20:15

Fair comment Que -commodities are in a weak patch and apart from oil thisand a wee bit in GLEN I am not investing in them at the moment. Rio Tinto BHP are all getting hit - this share does not need risking a lot of money its a small investment that pays a bit more dividend than BT !

[quepassa] 19/4/2013 13:34

But one can ask oneself how robust is that dividend?

If Royalty streams are adversely impacted - as is possibly the case in my view- due to falling coal prices- this may potentially further stress the dividend payments which are already stretching the Company in my view.

If you look at ADVFN's analytics, they show the DIVIDEND COVER at less than 1, based on APF's recent full year figures.

The figure ADVFN give for DIVIDEND COVER is 0.91. This equates to a dividend payout of 110%. Many market participants look for a healthy DIVIDEND COVER in determining their risk appetite for buying dividend-paying stocks.

Combined with a fall in the junior mining sector and related stocks which may or may not point to future variances to the downside in the value of APF's £56m portfolio of Strategic Mining Interests, the dividend is not, in my opinion only, looking nearly as robust as in the past.

ALL IMO. DYOR.

QP

[4spiel] 19/4/2013 12:56

Despite the fact I knock this company above 157p I have a small holding because I have the opinion it is a relatively safer commodity investment due to its revenues being royalty based. Also that in due course demand for coal will increase because it is a much needed source of energy and gold if a small component will always have a value. So my belief is that if the share price price does dip at some point it will get back to where it is now -meanwhile a reasonable dividend from a cash generative company and the possibility of adding at higher yield if it does dip.

[haydock] 18/4/2013 09:55

STEVENLONDON3
I doubt you will be able to find an easy answer to your questions.
If you are thinking of investing, read the top of the thread & find the NAV in the last set of published figs.

Look at Piedro's bb.

There is more knowledge around these 2 bb's on this relatively secretive company than anywhere else.

For example we are the only ones who know about the CDN. coal deposits, the media have forgotten they exist, in for nowt.

We can tell you that we have a good & trustworthy BOD, who own a large chunk of the company & regularly buy themselves.

They do not make a habit of saying much !

Good Luck with your research.
HAY.

[stevenlondon3] 18/4/2013 09:42

Goodmorning. I am looking for some guidance on APF.
1 What was the NAV at the end of 2012?
2 With the decline in commodity prices what would be the best guess for the current NAV?
3 What is the dividend policy?(Progressive would not be that helpful an answer).

Many thanks in advanve as I am looking to buy but need more persuading!

[quepassa] 17/4/2013 15:53

Share price continuing to show significant weakness.

Not long now in my view until this likely goes below £2.

One can but ask oneself what the recent precipitous falls in the junior mining sector may or may not have done to the values of the Strategic Mining Interests portfolio of APF which was shown valued at £56m as at 31/12/12.

ALL IMO. DYOR.

QP

[christh] 16/4/2013 14:38

interim divi 5.45p due in August.
Not yet x-divi.

total divi 10p for the year

[4spiel] 16/4/2013 12:05

PE 23 Much too high for this and the yield nowhere near 6% as some poster suggests. At 6% it would be a good bet and it can get there but no guarantee !

[christh] 16/4/2013 11:11

Apologies the AGM will be towards the end of May(not finalize yet).
Venue not decided yet, possibly the geoogical society or the their office in Mayfair
Spoken to the secretary this morning.

[david77] 16/4/2013 07:36

I regret that I agree with QP. I bought shares on the back of a Daily Mail tip some time ago - downhill all the way since.

[4spiel] 15/4/2013 21:38

Its getting closer to 157p -I look forward to adding as it gets back to reality.

[gavapentin] 15/4/2013 21:00

I do not disagree with some of what you have posted.

It is why you have posted it, in the way you have.

You seek recognition.

ALL IMO

G

[quepassa] 15/4/2013 20:22

I think you're totally weird.

Ten people have been saying non-stop for a long time in chorus that it was going up and I was contrarian taking no end of flak.

We are where we are with the share price and market now.

And I'm the strange one?

And by the way, I haven't been shorting ( although I damn well wish I had ).

I have been an investor in APF several times in the past. And am likely to reinvest again but personally I think this share still displays significant weakness to the downside.

Amongst the lurkers on this bb, there might actually be some people who were grateful that there was at least one person bold enough to stick their head repeatedly over the parapet in the face of ceaselessly being shouted down and to put over an opposite view point.

My intellectual and investing curiosity have been piqued on this stock but not yet sated.

ALL IMO. DYOR.

QP



QP