Dragon-ukrainian Propert... Share Discussion Threads

[ny boy] 06/1/2016 02:48

Just value it at 0p priced to go bust, none of these tiddlers will survive the global rout, the chart does not lie, heading for zero.

[my retirement fund] 06/1/2016 00:19

How to value this? Where to start!

[spob] 30/10/2015 15:17

What's the latest situ here

just watching

last time I looked these were around 30p

[stemis] 13/1/2015 11:04

Last looked at these 12 months ago. Thought they looked reasonable value but put off by unknown cost of completing part developed assets. Price was 36p so I guess I would be down 21% now.....

[hugepants] 29/12/2014 15:59

Bought a few for the 3.5p dividend. Record date is 9th january and payment on 22nd january
Currently valued at 30% of last stated NAV of 78p

[praipus] 04/12/2014 14:57

Bought and sold these following Weiss in and out for a small profit. Followed Lars in but sold out due to a change of strategy (I needed the money) in July. Looking at the chart I was lucky.

Lars hasn't sold any so there is I suspect intrinsic value here for the long term.

After WWII and the German history it is a shame that the EU and the Russians can't be a bit more Humane. tolerant, sensitive and civilised in their negotiations with one another.

A friend who visits Russia on business says they hate the Germans and I suspect Europe by inference of Merkel's influence on the EU.

[envirovision] 04/12/2014 12:50

will look cheap again at 8 pence imo

[praipus] 30/4/2014 11:34

Highly probable. Oh dear another quote "all that is written is advertising"

[envirovision] 30/4/2014 10:21

Was it addis the makers of cheap floor mops and buckets?

[praipus] 30/4/2014 08:34

Who was it who said "if there is blood on the streets buy"?

Not that I've got the courage to.

[rjmahan] 02/3/2014 17:39

I thought Simon Thompson said hold - like the underlying but still can't justify Ukraine given dispute with Russia.

[irishmatt] 25/2/2014 18:43

It was a Simon Thompson at IC induced spike, price target is 57p

[praipus] 25/2/2014 15:27

Lars Ernst Bader bought 10.27% on 28/1/2014 I wonder if he is back for some more


I track the rest of his hoildings on the WAM thread :-)

[praipus] 25/2/2014 15:20

dunno but I dont mind if they do it again:-)

[tricia51] 25/2/2014 13:04

tipped somewhere?

[rjmahan] 27/1/2014 08:24

Changed my mind on this due to the political situation - getting out at a profit on my additional position, pretty much flat on my added position.

hxxp://deepvalueinvestments.wordpress.com/2014/01/27/dupd-he-who-turns-and-runs-away/


Rob

[rjmahan] 23/1/2014 19:20

Yes I saw that however equally in the agreement the manager makes more money the more they distribute - so no incentive to invest where there is no positive ROI.

The agreement also says:
Once effective, the Third Management Agreement will expire on 31 December 2016, with two automatic extensions of twelve months each, as follows:

-- if by 31 December 2016, Distributions of at least US$42.4 million have been made (being 80 per cent. of US$50 million multiplied by 1.06), the Third Management Agreement shall continue until 31 December 2017 at which point (and subject to the bullet point below), the appointment of the Manager shall expire automatically; and

-- if by 31 December 2017, Distributions of at least US$63.6 million have been made (being 80 per cent. of US$75 million multiplied by 1.06), the Third Management Agreement shall continue until 31 December 2018 at which point, the appointment of the Manager shall expire automatically.

So I anticipate bulk of the MCAP in the next 2 years.

[hoveite] 23/1/2014 15:25

Have you noticed this section of the EGM announcement?

"The adoption of the New Investing Policy is not expected to result in any distributions to Shareholders in the short term as its implementation is likely to require the Company to retain existing cash resources to fund its on-going working capital and running costs (including the fees payable to the Manager) and investment in certain of its existing development projects in accordance with the New Investing Policy."

So you might want to apply a discount to their cash balance, unless you are certain that the Ukranian property development that it will be used to finance won't lose money.

[rjmahan] 23/1/2014 15:05

I also treat the NAV with a great deal of suspicion - if you look at my blog post you can see £16m in cash and £19m of Arricano - this is virtually the MCAP on its own - from 2 investments which are transparent.

[envirovision] 23/1/2014 14:26

Even if they can achieve 60% return of nav that would be a good investment over a few years IMO. The currency risk will be in dollars I imagine as all of the past deals have been done in dollars so even if the local currency devalued should not be a problem, of course there are risks though so you pays your money I guess and takes your choices. It looks like there is someone not prepared to wait though and is holding the price back selling I think otherwise I'm sure this would be well be over 40p already

[tiltonboy] 23/1/2014 13:47

I would treat the NAV, and also the ability to sell the properties with a great deal of suspicion.

Add in the currency risks, and it's not the value it first appears to be.

One would hope there is sufficient margin of error to make a profit, but it's not for me at these levels.

[envirovision] 23/1/2014 13:14

Yes I have some.

[rjmahan] 23/1/2014 12:19

Still think there is substantial value at these prices - agree with envirovision NAV realised possibly £1 - more or less a 3 bagger.

hxxp://deepvalueinvestments.wordpress.com/2014/01/23/dupd-beginning-to-realise-but-price-not-rising/

[stemis] 23/1/2014 10:35

Do you hold?

[envirovision] 23/1/2014 08:18

Liquidation then nav around £1 interesting move. Wonder how long it will take to it?