Crystal Amber Share Discussion Threads

[spectoacc] 19/12/2019 09:28

XD today. Still seen no reason to buy. Would much rather no buyback & shares find their own level.

[quepassa] 18/12/2019 07:36

DLAR does what it does. It is NO COINCIDENCE in my opinion that they have chosen "an insider" (a highly trusted former Director) to be the new Chairman and an outsider to be CEO who is billed as a turnaround specialist. Turnarounds can take many shapes and forms. Not always in my view to the benefit of ordinary shareholders. And DLAR is a company which seemingly doesn't warm to outside activism and investor interference, especially given its very special role in the UK. Even more so, since leaving the EU is now 100% confirmed. ALL IMO. DYOR. QP

[spectoacc] 18/12/2019 07:09

Thanks @Wbodger. I've no problem with CRS betting on almost binary outcome at DLAR now - but having been buying way, way higher, and all the gumpf about how good the new management were going to be, is too much to take! ALM is my largest holding so I say they're right on that one - but then I would say that. Is worth reading what previous CRS reports have said about DLAR, and how it's performed since. Sobering reading.

[wbodger] 18/12/2019 00:49

My reading of NTG is that Redde instigated a RTO of Northgate which may have had RB's support initially but need for liquidity now causes CRS to regard their NTG holding as expendable. Redde-NTG will combine early in January and will be run by Avril Palmer-Baumack as Chairwoman and Martin Ward as CEO. This is an improvement on NTG's previous management but it will take time to bear fruit, meanwhile RB's fox has been shot. RB bets on DLAR and ALM instead. (I hope he has had sight of the books at DLAR.) Goodness knows what's going on at HUR.

[8craggle] 17/12/2019 12:02

RB has only himself to blame for the fall in hur, if his idea of getting shareholders value for money it beggars belief.He's dumped shares at such a rate as to leave the company open to a cheap takeover. Lots of LTH,s have exited and probably never to return. Far to aggressive for an Aim share where sentiment goes along way.The downside here is self for filling in my opinion and will continue.

[spectoacc] 17/12/2019 08:46

And with perfect timing - a minor p/w out of KMR, based on production & costs. CRS does it again.

[dangersimpson2] 16/12/2019 10:33

Their activism has had at least partial success at ALM so far, getting the management to reduce their ridiculous bonus arrangement. Failed at NTG I'd say, as they seem to be attempting some pointless merger with Redde instead of selling the Spanish business as CRS suggests. DLAR the strategy here surely must be to force a sale of the business - they received offers at a much higher level in the past, and you would think that it is the type of business that would still interest acquirers, not least because they could put their own competent management in. HUR, KMR, EQLS, STVG don't really need activism at this stage. So mixed results so far on the activism front, but that doesn't mean they won't be able to force further change at ALM & DLAR to turn things around in time. NTG is probably lost, hence why they are reducing there.

[p1nkfish] 16/12/2019 10:17

Agree 100%. Their activism hasn't worked and they continue to catch falling knives.

[spectoacc] 16/12/2019 09:46

He got suckered by MERC IMO. CRS is an odd call - "Buy" when higher, "Sell" when lower, claiming he couldn't see a catalyst for the turnaround. How about a big discount, or the prospect of some of the holdings recovering? But as per above - I'm very unconvinced by the CRS portfolio of old-economy failing co's. Happy to be proven wrong, and hold ALM in size (& some KMR), but just not convinced by averaging down DLAR, HUR (out & back in), NTG. DLAR alone has shown some serious errors of judgement.

[p1nkfish] 16/12/2019 09:19

He was buy on MERC and very positive before dropping.

[spectoacc] 16/12/2019 08:40

Can't stand him, tho MERC was another he said "sell" on Fri. Nonetheless - has a big following.

[p1nkfish] 16/12/2019 08:30

He hasn't covered himself in glory on MERC, ST not a guru. Take care, dyor.

[spectoacc] 16/12/2019 07:32

"Surely it can't get much worse". Well - the only thing holding it up seems to be the buyback, another 200k shares at 128p reported. Simon Thompson has said "Sell". Whilst I'm a big fan (& holder) of ALM, I can see some of the old-economy stuff faltering still further. Plenty are wondering if DLAR can pull through, HUR seems to be in trouble, NTG is in a dreadful sector. They seem to be averaging down on them, Woodford-style. Struggling not to see the discount as warranted. They're now mildly geared into it too. But everything has a price - for me, I want the buyback to cease, the share to find a level much lower, and perhaps some indication that one or two of the holdings have hope. All of them (including ALM) look pretty awful atm.

[peterbill] 15/12/2019 18:12

CRS now a buy? Surely can't get much worse ... hTTps://www.investegate.co.uk/crystal-amber-fund-limited--crs-/prn/monthly-net-asset-value/20191210151119P5729/ Crystal Amber Fund announces that its unaudited net asset value (“NAV”) per share at 30 November 2019 was 195.23 pence (31 October 2019: 202.65 pence per share). The proportion of the Fund’s NAV at 30 November 2019 represented by the ten largest shareholdings, other investments and cash (including accruals), was as follows: Ten largest shareholdings Pence per share Percentage Hurricane Energy plc 49.7 5.1%Equals Group plc 33.5 21.6%Northgate plc 27.7 6.2%De La Rue plc 24.1 14.3%Allied Minds plc 22.4 17.7%STV Group plc 12.8 8.0%GI Dynamics Inc. 12.6 73.1%Board Intelligence Ltd* 5.7 *Kenmare Resources plc 4.5 1.8%Camellia plc 2.8 1.1%Total of ten largest shareholdings 195.8 Other investments 10.7 Cash and accruals -11.3 Total NAV 195.2 *Board Intelligence Ltd is a private company and its shares are not listed on a stock exchange. Therefore, the percentage held is not disclosed.

[spectoacc] 13/12/2019 16:13

Seems to be a lot they're underwater on - ALM, DLAR, HUR, NTG, EQLS - everything in the portfolio, basically ;)

[hugepants] 13/12/2019 15:53

yes HUR down quite heavily this month. Maybe NAV around 190p then.

[hugepants] 13/12/2019 15:52

flyfisher, NAV was 195p at end November. So you think portfolio down 10% this month? (before today)

[spectoacc] 13/12/2019 15:49

@HP - yes - it was a "tip update". Said he couldn't see where the recovery would come from. I'd suggest the timing of it landing on the doormat today was poor :)

[flyfisher] 13/12/2019 15:33

As of 10/12/19, i had nav at 180p, due to falling share price this month in hur, equals, dlar, stv and alm.

[hugepants] 13/12/2019 15:22

Was that Thompson guy not tipping this as a buy when is was at 200p? Rise in HUR and EQLS alone worth 10p so should put nav north of 205p. So discount to NAV must be around 35% Dividend of 5p. Will this continue. Are they happy to pay it out of capital?

[hindsight] 13/12/2019 14:44

Pretty hard to justify the high fees

[spectoacc] 13/12/2019 14:12

Simon Thompson has said sell in his IC column today. Presumably out a week ago to "subscribers" and hence at least some of the weakness.

[hugepants] 13/12/2019 12:36

fyi HUR +10% EQLS +10% ALM +2.5% STV +2.5% DLR +1.5% NTG +1.5%

[avsome1968] 12/12/2019 19:00

CA increase their stake in hurricane oil today?

[p1nkfish] 11/12/2019 11:28

17.1% x $40M return due from ALM. About 6.8p/share. ALM RNS today, upped return.