Cambium Global Timberland Share Discussion Threads

[bozzy_s] 27/10/2015 09:44

Yesterday's forced seller @ 5p creates an opportunity methinks. The NAV could easily be written down due to various reported issues. But cash of circa 3p per share gives this a solid base.

NAV 23p per share as last reported, and there are no intangibles on balance sheet, so that's all land, property, timber, equipment, cash.

[praipus] 27/10/2015 08:52

nav 23p buy price 6.5p

[lionheart79] 08/9/2015 19:25

incredible. muppettry on the grandest scale.

[lionheart79] 21/1/2015 13:08

I've decided not to participate in the tender, in the vague hope the capital raised from the disposal of remaining assets will be higher than expected. Also 20% doesn't amount to a lot of cash for me.

[topvest] 07/1/2015 17:49

I'm tendering my basic entitlement.

[praipus] 07/1/2015 10:23

View: if you hold the NAV should rise as a result of the tender.

Vulnerability to the underlying is increased for better or worse.

I'm tendering some because I need the money.

I followed a value arbitrage investor in (see WAM thread).

[praipus] 07/1/2015 09:04

You need to read the section "Background to and reasons for the Tender Offer"

[lionheart79] 06/1/2015 22:30

So they are offering to buy 20% of our shares at 25p... Is this the start of the winding down of the Company?Hardly seems worth it for my holding. What is everyone else doing, or if you have no holding, any views?

[praipus] 03/12/2014 12:08

Difficult not to agree with you.

Pleased to see a NAV being printed....at last a step in the right direction.

[hugepants] 26/11/2014 10:34

nav down to 33p which doesn't include future disposal costs etc

[praipus] 12/11/2014 13:20

RNS Number : 8054U

Cambium Global Timberland Limited

21 October 2014

21 October 2014

Cambium Global Timberland Limited (the "Company")

Publication of Net Asset Value ("NAV")

The Directors of the Company wish to announce that in the light of the changes to the operational management of the Company approved by shareholders at the AGM on 16th October 2014, it is intended to replace the publication of the "desk top" net asset value as at 31st July 2014 with an accelerated announcement of the 31st October 2014 net asset value (which will still be subject to review by KPMG) based on the independent third party valuations for that date together with consideration by the Board and the Operations Manager of any other relevant information.

A further announcement will be made in due course.

[praipus] 12/11/2014 13:18

must have wanted their money back

[h d shoring] 13/10/2014 09:25

Now thats a todo
its just gone blue
Has someone bought a tree from the company ??

[h d shoring] 08/10/2014 16:00

Could this end up as a shell with significant tax losses ?
Must eventually be worth something to somebody ?

[lionheart79] 04/10/2014 12:16

Suits just rinsing this Dry! Despicable. No accountability or thought for shareholders whatsoever. The sooner it's wound up the better.

[praipus] 18/9/2014 17:25

No correlation with LB Lumber Long ETF's

criminal levels of mis management at TREE?

[tenapen] 31/8/2014 19:31

Hi Topvest, I had such high hopes that i had finaly found a winner when i bought these. Sadly it was another failure but i got out without too much of a lose. Reading your above figures, these should have been on Ofex / Plus (not sure of its present name) and described as high risk even for that market.

Regards.

[topvest] 31/8/2014 18:16

They had revenue of just £42k versus £53k in the prior year. Compare that with admin costs of £1,268k and forestry expenses of £1,251k and you do see what an absolute nonsense this all is, particularly when they overpaid for the assets in the first place. I know the timber revenue is back-end loaded, but when?

[topvest] 31/8/2014 18:13

Well this has been a spectacularly poor investment. Hopefully, they will be able to return a reasonable amount of cash of 30p+ but not overly confident. A merger with Phaunos is a possible way forward, but that company is nearly as bad. Timberland....avoid...lesson learnt! If an asset doesn't generate good cash flow then its probably not a great investment!

[praipus] 29/8/2014 10:44

Australian disposal news

[praipus] 30/7/2014 14:46

One arbitrageur out another goes in.

[praipus] 31/1/2014 16:18

Half year report


The main issue seems to be Brazil. Not allowing non nationals to own land...lol Ok for Brazil to sell football players just not tree's or earth!..lol!

From emerging BRIC tiger economy bread basket of the world to medievel witch hunting and the laughing stock of South Americs's. Sad really.

[topvest] 01/1/2014 17:28

Yes, very poorly run. Just goes to show that having a top notch Chairman doesn't always count for much. It looks to me like Cambium and Phaunos both just invested shareholders' money in a load of over valued timber assets. Whoever sold them their initial portfolio must have been very happy indeed. I will never invest in timber again. The negative cash flow is a very strong hint. I should have known better, so I have myself to blame, but at least I have only got a few. Baillie Gifford must have been drunk at the wheel to invest £17 million in this rubbish. It's a clear orphan asset, if there ever was one. Should be some upside at some stage, but I wouldn't hold your breath!