Burford Capital Share Discussion Threads

[desk100] 04/5/2021 19:05

Bestace, maybe they should but they just don't, listen to any of Molots webcasts if you don't believe me.

[galatea99] 04/5/2021 18:16

Sorry, I hadn't noticed the earlier references above to the same case.

[galatea99] 04/5/2021 18:12

There's a report here (in French) of Burford financing a claim by an Australian junior mining company, Sundance Resources, against the Government of Congo (and eventually also the Government of Cameroon) in respct, it seems, of the apparent dismissal of Sundance from a project to develop an iron mine on the Congo-Cameroon border. This is Congo-Brazzaville, the former French colony, not the DRC-Kinshasa. The claim is stated in the article to be for US$8.76bn and the claim is reportedly now being arbitrated under ICC rules in London. The article seems to imply that Sundance were taken out of the project which was then taken over by Chinese interests.



Oh sorry, I've found the text in English. Here you go:

[bestace] 04/5/2021 17:50

Burford have sometimes likened their approach to that of venture capital investing so surely they should be taking some longer shots (in the probability sense) if the potential upside is big enough to offset the increased risk of losing?

[loglorry1] 04/5/2021 16:54

I was referring to the time it may take for an outcome more than the probability of winning or reaching a profitable settlement.

[desk100] 04/5/2021 16:51

log lorry - Burford don't do long shots, if they invest in a case its because they think they will win eventually, see their annual report.

[williamcooper104] 04/5/2021 10:55

Totally If Peterson's a big win then having more big game in the pipeline will do wonders for the equity story Pull back had to happen at some point after the rise we've had

[loglorry1] 04/5/2021 10:24

Always good to have a massive long shot in the hopper though.

Pull back today looks like a bit of profit taking after a big run up. Looks healthy enough to me.

[donald pond] 04/5/2021 10:23

That's potentially as big as Petersen. Not sure how easy enforcing against the Congo is but there you go

[lomax99] 04/5/2021 09:34

Good spot Chester9, thanks.

[chester9] 04/5/2021 09:23

https://www.sundanceresources.com.au/irm/content/company-updates.aspx?RID=468

[chester9] 04/5/2021 09:21

It's about Burford funding a 9 billion law suit against state of Congo. Price was due a City shake. Congo thing will take years but 20%? It's what they do.

[syoun2] 04/5/2021 09:19

If it goes to court it will start Jan 2022 (if no further delays). If there’s a settlement agreed out of court which 90% of cases are then that could happen any time from today up to end of year. That’s my understanding.

[tnt99] 04/5/2021 09:13

No new news there then burford Peterson case delayed till 2021 by the argies which was what the main man told us in his latest video

[tnt99] 04/5/2021 08:33

There they go all shorts out then up up and away hope Gladstone lost it's shirt lol

[loglorry1] 03/5/2021 09:40

I'd prefer a huge short interest still there to get squeezed.

[syoun2] 02/5/2021 19:15

I noticed Gladstone reduced there short position again on Thursday from .86% to .77%. It’s the last short left over.5 % . So just need them to reduce below .5% and no further public reported shorts. Happy Days

[three black crows] 01/5/2021 13:40

Nice work Jerry, long term is the game with Burford, Burford is the true master at compounding growth.

[djderry] 01/5/2021 11:13

As a long term investor,I find it all so amusing.As one who never sold during the MW assault,but,of course,added,my overall Bur portfolio is up over £200K in the last month.
But what has changed?
Nothing,really.Those of us who said Bur is completely undervalued understand nothing has changed.
Those of us who understand the business know that the company is invested in the same portfolio of cases.
That MW issued an erroneous list of unfounded accusations cobbled together so as to scare investors,wiping a billion pounds of imvestor's money has not changed.
The villification in the press has not changed.While the FT said in an unrelated piece this week that Bur brought unwanted attention to the sector regarding its valuing of cases (no,you just didn't read Bur's detailed methodologies which have been proven by cold hard cash realisations for over ten years now)and for being involved in divorce cases ( no,it is involved in a High Court judgement enforcement)to its sister publicatio,the IC,which in its 24 to 31 March edition advised its readers to 'hold' Bur at £5.99,to buy various other companies on PE ratios up to 60 and,in one case,96! and extolled the virtues of cryptocurrencies.
A company which is completely undervalued is just slightly less so.

[jockthescot75] 30/4/2021 16:15

Tnt - filtered

[tnt99] 30/4/2021 14:48

Great news hope all my reddit fans are making money up up and away

[jeff h] 30/4/2021 13:20

Insights from Jefferies (price target 1,150p):-

Recap of recent news: The successful completion of governance changes announced in 2019 comes on the heels of several other positive developments:

FY20 results: Although the P&L bore no surprises after the trading update, the strong rebound in deployments in H2 2020 was positive.

High conviction in the largest investment: The doubling of exposure to Burford's biggest investment by funds deployed also appears positive. At H1 2020, the top investment was $90m (of which $38m from the balance sheet) in three related cases.
At the full year, the same investment had grown to $197m ($83m from the balance sheet) in 19 cases. This indicates confidence. If it is related to the c. $140m FV gain taken in H2, there will also have been a material legal milestone in the matter.

Steinhoff: The announced settlement with shareholders will be positive for Burford, which has funded some of the claims. Burford's exposure is unknown, but even if it is not substantial, the development is positive and indicates that the larger, post-2016 recent investment vintages are maturing.

Asset recovery case: A win for Burford's client in the English High Court should make recovery easier and is another example of more recent investments progressing.

[loglorry1] 30/4/2021 12:33

I think (and I'm no expert) that the ADRs were sold by YPF and in their terms they essentially give the same economic effect to holding the common stock. There are some other inferred rights too like voting etc. However I suspect there may be some subtle differences like your rights to compensation if nationalized!

There's likely to be case law to say what should happen in this case if it isn't made explicit in the terms of the ADR.

I confess I've not looked deeply enough at this.