Origo Partners Share Discussion Threads

[russman] 02/11/2015 06:48

& they don't know what currency they are dealing in either

[russman] 20/10/2015 07:38

No, it is Chinese.

[deanroberthunt] 19/10/2015 12:03

this share never ever goes up....

[russman] 18/10/2015 20:21

Prefer the risk/reward ratio on the prefs.

[zcaprd7] 15/10/2015 18:39

Yes. Not looking great, unless the underlying assets see a turnaround in the next 3 years?

[bam bam rubble] 08/10/2015 16:12

The $94m NAV is bloated as it includes $38m so-called 'value' for Celadon Mining
and Gobi Coal & Energy - the latter of which it prices at $95 million market cap
despite having no operations and other companies linked to it through management,
Prosperity Minerals and Paramount Mining, became microcaps then delisted off ASX.
Less those two worthless entities NAV is c.$56m. How much of that is realisable?

With ordinary shareholders only entitled to $5m of the first $40m of asset sales
and 30% of any surplus, after discounting for costs, selling risk and time value
it's hard to justify a share price of much more than 1p

Sales = net to ordinary holders
$24m = $3m (£1.95m) 0.54p/share
$40m = $5m (£3.27m) 0.91p/share
$50m = $8m (£5.22m) 1.45p/share

[russman] 01/10/2015 20:46

"Someone" is hoovering up the prefs.
Guess who?
50:50 whether the restructuring will be passed @ GM.
Brooks will put their Size9's in.

[zcaprd7] 01/10/2015 14:45

Hmm. Just saw the distribution proposals...

[russman] 22/9/2015 10:16

How are they going to pay the prefs back.
Doubt there will be anything much left over for us.

[russman] 10/9/2015 08:03

Be careful. The pref price is suggesting there is significant financial risk.

[zcaprd7] 09/9/2015 16:57

And some more today....

[zcaprd7] 03/9/2015 15:25

Chucked another £500 in today. Sigh. Probably good after bad, they held up well despite all the recent drops, and then the drop today on no volume?

[russman] 30/7/2015 09:30

A sticky patch.

[zcaprd7] 29/7/2015 21:13

Well, not sure what the market turmoil is doing for valuations. But coking coal isn't exactly expensive at the moment...

[zcaprd7] 17/7/2015 16:25

Gives the management something to do I suppose, because there isn't much divestment going on...

[russman] 15/7/2015 00:01

It is the same argument but using a different angle of attack.
Their lawyers would have used their best case first (but lost), they are a busted flush.
It is a negotiating tactic.
Lawyers will be the richer.

[zcaprd7] 14/7/2015 17:51

Perhaps not... What are they moaning about now?

[zcaprd7] 13/7/2015 10:30

Yes. They can go whistle now...

[zcaprd7] 01/7/2015 01:53

Well my hunch is right now, maybe not, but in three years time, China rice, to use your example, will be worth a few quid.I suppose I expected a few deals every 6 months about this and that disposal. Not all done at the end of four years. Although sitting tight atm isn't a bad move...

[russman] 30/6/2015 22:32

It is a liquidation. Only you know whether their illiquid investments can be sold to leave something after paying the ZDPS, overheads & legal fees.
China Rice appears to be their largest current investment.

[zcaprd7] 30/6/2015 14:05

So, is this worth tucking away for three years or bailing out now?