Origo Partners Share Discussion Threads

[cerrito] 06/11/2012 09:58

Graham1TY
I did not catch the report of that 35m trade.
My calculation is that at 15p the number of shares that 1.5$m will buy will be about 5.6m ie not enough to take out F and C's total shareholding of 22.8m pre the recent sale even if the Pension fund continue to do their bit.
Perhaps if F and C can slim down a bit they will remove the selling pressure.

[graham1ty] 02/11/2012 16:43

Is my screen misreporting something.......or have 35m shares changed hands at 12.5p ? Could be 17m each way, but still that represents 5% of the company. More than they are authorised to buy back ? I assume we will get an nnouncement tomorrow. Hope does not set a new level in the markets mind at the 12-13p level.....the chart continues to look awful......

[cerrito] 01/11/2012 09:18

Nothing really new in the IMS
Note continued silence about Gobi which represents 33% of NAV and the news section of the Gobi website continues to be empty.
If one zero values Gobi, I calculate the £ NAV is approx 22p(US$201m-US$67m/360m shares*.61) so we have a healthy discount with a share buy back programme

[graham1ty] 30/10/2012 13:12

Not the CEO.........the company. Buying in $1.5m shares at these low levels ( if NAV is really 37p can only enhance NAV per share.

[zcaprd7] 04/10/2012 16:25

Yes, I like that, I wonder if the CEO will top up again - Ecofin should have another nibble as well...

[cerrito] 04/10/2012 12:35

Encouraged to see that the EBT in the last few days has bought over 900k shares

[cerrito] 01/10/2012 09:38

Today's news is good I guess but as the company involved is less than 2% of the portfolio, one rather wishes that we could get good news(in some case any news) on the more important companies.

[zcaprd7] 30/9/2012 10:05

I've gone in heavy on my SIPP. Does anyone now if there are equivalent trusts/funds with other BRIC countries?

[topvest] 20/9/2012 07:57

Looks a bit of an "orphan asset" to me with little or no demand for their shares.

[graham1ty] 20/9/2012 07:48

And was only 4 months ago that CEO bought £50,000 at 24p. Would help if a major holder was buying at 14p.......

[graham1ty] 20/9/2012 07:46

zcRPD......agree with you, or maybe assets in that part of the world should trade at 50% discount......is some debt, so the gross asset figure is distorted.

Is very good shareholder list, many of whom have subscribed to a number of placings, most recently at 36p. Have they all abandoned this ? Or not want to top up further ? By my back of the envelope, about 90% is in declared 3% holders, so the free float is less than 10%, probably just a couple of million quid. Would not take much to soak that up......

Maybe dead in the water until China seen to be growing stonger. And Mongolian political risk is pretty high. Did think this was dead .....until the results and thought reassurance on NAV would cause a bounce.

[zcaprd7] 18/9/2012 15:37

Hmm, NAV of 200m - market cap 50m - am I missing something here?

[zcaprd7] 18/9/2012 11:57

Topped up (again, sigh)

[tenapen] 18/9/2012 08:13

Poor results today.

[the count of monte_cristo] 03/9/2012 09:28

Dont think we will see sub 10p or even 10p, especially if we get further QE, just my opinion.

[topvest] 01/9/2012 16:05

Agreed - this is heading down imo. Not impressed that Ecofin bought more, as it's a pretty cyclical and expensive outfit.

[christianf12] 31/8/2012 13:52

Wait for sub 10p imo

[zcaprd7] 31/8/2012 13:40

Heading lower...ready to top up at 15p

[cerrito] 13/8/2012 21:54

The Count, you are right that I should; I did email them earlier this year saying it would be good in the annual report that there be commentary on Gobi Coal, but there was nothing.
The top 10 shareholders have 75% of the company; in one way that is good as they seem good quality and there has been no change in the shareholder structure announced since Jan 18th this year; on the other hand this means no doubt that they regard people like me as a pain that have to be tolerated.
Perhaps they feel they take enough flack from those who went into the Dec11 financing and have lost 50%+ of their money.
I suspect that when in the IMS they talked about downward adjustments in the carrying value they had Gobi in mind.
I will wait to see what the Interims tell us about how Gobi is doing; I did go to their accounting policies to see what they said about how they valued assets like this and as I suspected in 1.3(b) they were vague..also interesting that the most important accounting policy in the type of business that OPP does is valuation of unquoted investments which gets a third of a page and then they go on for pages with other accounting polices which however worthy are of less critical importance to OPP. I need to add that in looking at Note 13 of the annual report I saw the disclosure of the Fair value Hierarchy level classification which I had not come across before and had to go to Wikipedia to found out what it was all about-basically the classification where as here there are very few benchmarks to use to establish pricing.
PS Good that Origo call today's formation of a Government in Mongolia as positive.

[the count of monte_cristo] 13/8/2012 12:27

Cerrito - have you called the company to ask them about Gobi coal? Maybe they will be able to help?

[cerrito] 13/8/2012 12:23

Been having a closer look.
Interesting to see that in H1 12 investments were $3.1m compared with $83m in calendar 2011.
Obviously with cash at $33m we cannot have a repeat of the 2011 activity but let's trust that we get some insights when they publish their interims into the current strategy.
Of most concern is the total news blackout on Gobi Coal which represents 38% of their investment portfolio. No comment on its progress in the OPP annual report; I have checked Gobi Coal's website which still reports that in Q2 12 they expect their Shinejinst mine to come on stream and there is no up to date information on their other projects. A Google search reveals nothing recent except a Sept 11 story by a local journalist that Origo were looking to exit.
This lack of substantial information on an investment which represents 38% of their portfolio explains why the shares trade at such a large discount to NAV.
Could not find any recent info on RM Williams Agricultural Holdings-except that they have rather an attractive dude ranch.

[the count of monte_cristo] 08/8/2012 14:53

No movement on KCC over on the TSX, it is a thinly traded stock. Although those drilling results were not brilliant it is a start, and further assay results are pending. I spent today reading up on how the Oyu Tolgoi was first discovered, I bet BHP regret there decision (see below)...the project now contains a few hundred billion dollars worth of copper and gold.







...In 1999, additional drilling and exploration was recommended; however, further exploration at Oyu Tolgoi by BHP was discontinued due to cut-backs in BHP's exploration budgets. At this time BHP's exploration tenements in Mongolia, including the Oyu Tolgoi exploration concession, were offered for joint venture....

[the count of monte_cristo] 08/8/2012 09:46

This mornings RNS sounds OK, however Kincora were down over 17% on this news.