Grit Investment Share Discussion Threads

[richie666] 04/1/2017 16:25

Spec - unless my eyes deceive we are 10.5p offered.
Might be an idea to try and make it back by jumping on board the good ship GRIT and accepting sometimes others know better than u. ;-)

[tromso1] 04/1/2017 16:06

Updated NAV of 22.32, more than double the current share price.

[richie666] 04/1/2017 08:48

Not ramping Spec - simple realisation of facts. Merrex alone worth almost 10p per share. Together with net cash and current value of Merrex less ALL CULS repayment results in net cash of 4.4p. The residual portfolio is worth multiples of this we believe.

[spectoacc] 04/1/2017 08:21

I'll chase him, safe to say won't be top of his list of priorities.

Surprised ramping to 10p taken this long - and not there yet.  However, if it gets there, a bet's a bet, & I'll post proof.

[plasybryn] 01/1/2017 14:37

Are GRIT still invested in Wishbone (WSBN)?
Anyone have a view?

[spectoacc] 30/12/2016 07:41

Funny you should say that @NY Boy - I stumbled on his Twitter feed whilst Googling where he lived, & he was threatening to fight someone! Couldn't make it up.

@Richie666 - certainly not emailing you or I'll end up spammed by tip sheets. Did very briefly speak to solicitor before Christmas & he said he'd email you in the new year.

As I've said, ramping GRIT to 10p ("GRIT makes the list" - you wrote it!) shouldn't be a problem, but giving to charity is no chore for me & they'll still never return a penny to shareholders.

Ironic if Merrex - which they tried & failed to flog - get them out of the CULS hole. Fwiw IAMGOLD are robbing Merrex, it's too low a price for control.

[ny boy] 30/12/2016 03:49

You two could do it the old fashioned way and have a duel at dawn 😛

[richie666] 29/12/2016 16:56

Spec - GRIT makes the list -

[richie666] 23/12/2016 09:34

Email me at [e-mail] and we shall put the money into the a/c at Blacks no probs.

[spectoacc] 23/12/2016 08:53

GRIT will never return a penny to shareholders, but as I said above, 10p is nowt - it could do that in an afternoon, on ramping/fool's money. I don't mind the previous bet as it's no chore to give to charity in return for the later, larger donation to BTRS that you'll be making.

If you want to up the bet, we'll do it for the 2nd date, which is at the 20p target you claim (rather than for half of it).

However - I insist the money go into escrow, at Blacks solicitors in Leeds, or there's no bet. Not because I don't think you'll have the money now, but because I don't think you'll have it later. I will of course put my side of the bet in there too.

[richie666] 23/12/2016 08:24

Spec - WRONG AGAIN. They have circa £1m net cash, Merrex takeover puts IAG LIQUID paper in their hands. That could potentially (and very likely will) go up if gold gets a New Year kick up the rear. Net of the £2.7m CULS repayment gives em net £1.5m cash - nearly 4p per share. That means AAM, Siberian Goldfields and near 6p of further quoted stock are in for just 2.5p. Sheer madness.

Also, remember going forward as a consequence of the new proposals the co has negligible cash costs.

I repeat - How about we make the bet more interesting re March end - £10k my side v £5k your side for the animal charidees? And that's not Xmas beer talking!!!

[spectoacc] 22/12/2016 21:00

So GRIT get out of Merrex at 3c a share more than the 17c a share they thought they'd sold it for when it was trading at 22c? Great. No, hang on - it's all-share!

And where will any cash they can realise by selling the IAMGOLD shares go? Oh yes - they still have £2.7m owing on the (February) CULS.

And hang on - weren't you a big bull on Merrex, saying it was worth much more and you were glad the previous deal had fallen through? Well, I guess GRIT will still technically be in it, only now via IAMGOLD!

So there's no "..Over £3m Sterling.." - there's as yet no cash at all, and if there was, almost all would disappear to repay the CULS (which would at least remove the existential threat the co has been under, and continues to be under). NAV calc on Merrex will go from 16c to 19c (atm), compared to the overall NAV fall reported today (which surely you didn't miss?) of 1.2p.

[spectoacc] 22/12/2016 09:48

It's only successful when you sell.

Merry Christmas - the bet is on as per post 128. There'll be no increase in posts on this thread from me than in the past - wouldn't want to be accused of trying to deramp. I try to post the truth, with no agenda.

[richie666] 22/12/2016 09:45

Spec - you can see clearly where I am at Align. Rest assured I shall pay if I lose. Your charity nomination is entirely your choice. When we get to the first expiry I'll take a view on PETA.

Anyway, email me your details. I'm signing off for today. Xmas party after a v successful year. ;-)

[spectoacc] 22/12/2016 09:42

Missed it? I posted about it in 114.

Re the bet:

I've removed your final sentence - have no wish to see that!

My chosen charity is

I suggest we put the money under the first bet into escrow.


"richie666
22 Dec '16 - 09:23 - 123 of 126   ;  0    0
Spec - I'll give u a double bet and a no brainer one at that.

10p by end March - if I lose I'll pay £1000 to a charity of your choosing if I win you pay only £500 to mine (PETA) [changed to Brooke Organisation].
Second leg - 20p by 23 Dec 2017. If I lose I again pay £1000 to charity of your choosing and if I win you pay £1000 this time to mine (PETA)."

[richie666] 22/12/2016 09:39

Thanks for that Spec. That is the most informative thing I've seen from you on here and I shall look closely at that report.

As we have now dealt on the bet, I'll point out what u have overlooked dramatically -

"For its part, the two Chinese firms agreed to be listed on the Hong Kong Stock Exchange.

“This joint venture will secure the future of the Anglo-African Minerals projects and provide significant share dividend inflows,” explained Anglo-African’s chief executive James Lumley."

GRIT hold 27% of those.

[spectoacc] 22/12/2016 09:34

At risk of clogging the thread, if the admin costs argument doesn't sway you:

[richie666] 22/12/2016 09:32

Jeez u even want to tell me which charity to contribute to tooo!
I'm happy with PETA - big supporter of them & their philosiphy but for the 2nd bet we can go with Brooke Organisation.

Will look out for your email.

[spectoacc] 22/12/2016 09:29

I'll go with that but a charity other than PETA, who don't score very highly (high admin costs). How about MCS for yours?

[richie666] 22/12/2016 09:23

Spec - I'll give u a double bet and a no brainer one at that.

10p by end March - if I lose I'll pay £1000 to a charity of your choosing if I win you pay only £500 to mine (PETA).
Second leg - 20p by 23 Dec 2017. If I lose I again pay £1000 to charity of your choosing and if I win you pay £1000 this time to mine (PETA).

Email me and firm up. I love animals and so will be very happy to help them from someone who clearly meets the "fools and their money" saying.

As a final one - if they trade at 3p or below I'll show my backside on the town hall steps.