Cambium Global Timberland Share Discussion Threads

[lionheart79] 01/1/2014 13:32

Yea... Shares magazine reckons the Forestry & Paper sector has risen 45% in 2013, one of the top performers.What on Earth is going on here for TREE to be opposite!

[praipus] 20/12/2013 15:48

Dunno, read somwhere that timber is/was correlated with economic growth...

[lionheart79] 18/12/2013 13:43

Just noticed the 15% further slide in the last month or so. What is up with this hunk of junk? ??

[davebowler] 29/10/2013 15:02

Westhouse;
Plenty of positive statements to be found in the latest quarterly report published by Phaunos Timber (PTF.L, -41.2%). These include a rise in cash levels to US$12.5m at end-October (US$10.6m at end-June 2013), stemming from an acceleration in distributions from Mata Mineira in Brazil. Other positives highlighted include improved US housing starts and the continued growth of the Chinese market; China apparently becoming the world's "largest importer of hardwood chips in 2013." Overall, the company claims it is well positioned to "take advantage of the improving trends in timber markets."

[lionheart79] 18/10/2013 09:24

Did anyone go to the agm? I heard nothing more in regards to dialing in Unfortunately

[lionheart79] 10/9/2013 18:08

So the AGM is in Jersey. How Frickin convenient. I've emailed asking if there is a conference call dial-in, be amazed if I get a response.

[lionheart79] 02/8/2013 15:04

The chairman's statement gives me no confidence whatsoever. 4 years to dispose of assets? How on earth can that be shareholder friendly?! Executive pay friendly, more like.Meanwhile the share price continues to drop through the floor!When's the next AGM, I want to attend and show my displeasure.

[topvest] 29/7/2013 20:35

What a dog. No revenue, massive running costs, illiquid assets that are not attractive to buyers and a valuation reduction of some size. What a disaster. At least I wasn't as stupid as Baillie Gifford only paying 62% of their £1 purchase price. Timber was supposed to be an inflation hedge...what a nonsense!

[praipus] 19/7/2013 10:47

Additional Information
Ironsides manages the Ironsides Partners Opportunity Fund. Robert Knapp, the managing director of Ironsides, is a director of the Africa Opportunity Fund Limited (LSE AIM: AOF) and its investment manager. Mr. Knapp is also the lead independent director of MVC Capital, Inc. (NYSE: MVC) and a director of the Pacific Alliance Asia Opportunity Fund Limited (LSE AIM: PAX). Ironsides also invests its own capital in strategic opportunities via Ironsides Holdings LLC and Ironsides Energy LLC.

from hxxp://www.ironsidespartners.com/index.php?menu=60

[praipus] 19/7/2013 10:46

And some more Ironsides with 18% now


I've seen them on a few share registers what type of operation are they?

[lionheart79] 15/5/2013 14:17

They're still building. 11% now. Someone clearly sees some value here.

[lionheart79] 26/4/2013 14:27

Looks like Ironside Partners are building a stake.Anybody know anything about them?

[lionheart79] 26/2/2013 11:39

Surely they should be disposing of assets whike the going is good (like now) not stretching it out over a volatile 4 years....Want to string out their management fees it seems.

[topvest] 25/2/2013 20:26

Well they are not exactly doing a great job are they! I would prefer this to be acquired by Phaunos Timber in shares, but not expecting it to happen!

[hugepants] 25/2/2013 15:17

do these guys have a clue what they are doing?

[lionheart79] 14/2/2013 11:11

Obviously they are covering their tails by saying no guarantees, but given recent inflating asset prices we might even get lucky and get more than 57p. Although perhaps wishful thinking that, at least seems little reason to sell out ahead of the windup.

[hugepants] 11/2/2013 11:51

seems to be nearly all sells but pretty sure there is a buyer accumulating here. Still Weiss?

[badtime] 30/1/2013 13:32

Wonder who took the 500k

[hugepants] 30/1/2013 12:58

Why is everyone selling this mutt? Is a 10%+ return per annum for the next 2 years not attractive enough? I bought more at below mid price this morning.

[hugepants] 30/1/2013 09:32

....In summary, the Proposals comprise:

(i) changing the Company's investment policy with a view to realising the Company's portfolio in a manner which maximises value for Shareholders; and

(ii) returning surplus cash to Shareholders over time through ad hoc returns of capital.

The Board believes the principal benefits of the Proposals to be as follows:

(i) they should enable an orderly realisation of the Company's property investments with the objective of maximising the value received on the sale of those investments;

(ii) the Shares will continue to be traded on AIM and the CISX during the realisation process; and

(iii) the proposed scheme for ad hoc returns of capital to Shareholders is more flexible and cost effective than other methods of returning capital.


...

....Return of Capital

The Board intends to consider with its advisers mechanisms for returning capital to Shareholders during the realisation period.


....

Allowing inter alia for liquidity constraints, costs of sale, and the impact on valuations which are likely to be caused by such deferral of cash flows and suspension of planned operating activities that the realisation strategy will entail, the Investment Manager has estimated on a prudent basis that the net proceeds which might accrue to the Company from the sale of the portfolio will, after repayment of loans and adjustment to deferred tax provisions, be equivalent to approximately 57 pence per Share, but it should be noted that this is only an estimate which remains subject to market fluctuations and a number of uncertainties. Accordingly, the final amount may differ materially from the estimate. There will be no set period for the realisation of the portfolio but the target will be to complete it within 24 months.

......



The Board will write to Shareholders again in due course with details of its proposals to return capital to Shareholders. The Board may consider one or more tender offers and/or other capital return schemes as the portfolio is realised and will seek to adopt the most efficient method of returning capital to Shareholders. It is not intended that any further dividends will be paid if the proposals are approved by Shareholders.

[hugepants] 30/1/2013 09:17

circular


half year report

[hugepants] 28/1/2013 14:10

i wonder how they are getting on with the winding-up process. 57p return in under 2 years is a decent return from todays buy price of 45p.

[praipus] 07/12/2012 15:08

Noting the arrival of funds managed by Weiss Asset Management:

For those interested I track as far as possible the activities of Weiss and other systematic value investors on the WAM thread: