Primorus Investments Share Discussion Threads

[dafrog] 10/11/2020 07:40

No news on Weshop either. That looked promising.

[johncasey] 10/11/2020 07:25

or cadence minerals..copper and lithium are a powerful combination and add in some gold and silver and iron for good measure..ca nt go wrong

[johncasey] 10/11/2020 07:23

if i was clayton id invest some in vast resources

[trawl] 09/11/2020 23:22

as well as truspine not doing well any update on weshop
might be just as well they cashed ggp
heres hoping engage or zuuse contribute

[golden prospect] 06/11/2020 11:11

There is now an opportunity to pay a dividend or buyback shares, especially as PRIM trades on a 50% discount. Quite bizarre but well done to Clayton to capitalise on GGP (a brave call). I would like to hear about the investment update re Zuuse.

[dplewis1] 06/11/2020 08:45

Interested again here. Truspine has had a terrible time since listing but the fact they now have so much cash is appealing, also some of their unlisted investments are basically valued at zero

[golden prospect] 04/11/2020 10:10

Prim to update ?


04 NOV 2020




From the 1st Oct 2020 update
If funding round proceeds, Primorus will hold 2,057,205 in Zuuse and 1,000,000 options at A$0.50,

[golden prospect] 04/11/2020 09:38

PRIM nicely cashed from sales on GGP and now storming for another great investment in Zuuse.

04 NOV 2020 20m GGP sold at avg 23.09p for £4.6m !




04 NOV 2020

[philjeans] 04/11/2020 09:28

Time to BUY here; full of cash and a few other investments.

Cash alone exceeds MC.

BARGAIN

[zedder] 04/11/2020 08:48

If you made money in PRIM through their holding in GGP then head across to SVE and get the benefit again. SVE hold 82m GGP shares and currently their Mkt Cap is at approx a 45% discount to the value of the portfolio of which GGP constitutes approx 90%.

[cwa1] 04/11/2020 07:48

Well, out of GGP, cash above market value now:-

Greatland Gold Investment Update

Primorus Investments plc (AIM: PRIM, AQSE: PRIM) is pleased announce that it has completed the sales of its remaining shareholding in Greatland Gold plc ("Greatland") (AIM: GGP). The Company sold 20,000,000 shares at an average price of 23.09 pence per share, for gross proceeds of approximately GBP4,600,000 through a structured series of sales. As a result, the Company no longer has an interest in the shares of Greatland.

The Board of Primorus is pleased to have realised in excess of GBP6,500,000 over the life of its investment in Greatland having made the investment of approximately GBP630,000 in the company in late 2018 and early 2019.

The Directors intend to reinvest the proceeds of the share sales in accordance with the Company's stated investing policy.

Alastair Clayton, Executive Director of the Company, commented: "The Greatland Gold investment has, by any measure, been extremely successful. Having made a high-conviction investment call in late 2018, it has been hugely satisfying to watch Greatland grow to a market cap in excess of GBP800 million. Whilst the outlook for Greatland is extremely positive, after nearly 2 years, it is time for Primorus to realise its remaining gains and look to re-invest elsewhere in accordance with its investment mandate. Current cash reserves of Primorus now exceed the market capitalisation of the Company."

[johncasey] 04/11/2020 07:11

nice result..shareprice should double today with re rate

[tyranosaurus] 03/11/2020 16:26

PRIM is a waste of time.
Sell GGP at 22p and bank 4.4m
Add cash in hand and liquidate the company.

[johncasey] 26/10/2020 11:19

so this has fallen by a third now...might be worth averaging down

[timbo] 24/10/2020 22:53

So, not as good as GGP purchased at 1.71p...At least AC knows that area of Australia well so less risk attached to GGP investment than EUA which had significant risk even before it was suspended.I expect overall salaries will soon drop considerably even with 3 new directors and just D Strang leaving...

[johncasey] 24/10/2020 21:02

DOES Clayton still get a salary now hes ceo of Artemis? bloody hope not..i told him to buy EUA at 4p ,said it was basically a dodgy russian outfit and not worth investing

[timbo] 24/10/2020 20:47

That was the main point of the activist shareholders from the beginning of September onwards. The salaries are excessive and don't completely align the interest of the directors with shareholders. Better to have small salaries and decently priced options - I'm fairly sure that message has now been received very clearly at PRIM HQ...look at the RNS of 23/09/2020 and read between the lines....

[murphy2000] 24/10/2020 20:14

Good point made about directors fees. This is an investment company, they do little more than buy and sell stock just like you and me. How well would you do if you were on 300k / year for looking at a pc and doing research on google? This needs to be highlighted , they are not Hargreaves but behave as if they are running a billion pound investment company. The smart money say they will bleed this one dry in salaries unless shareholders unite and take a stand. For an outfit this size, salary should be 60 - 80k and be maxed out on performance when on results, they can rake in millions. I would go so far as to say, the huge basic salaries will make sure the smart money never finds it way to PRIM

[tyranosaurus] 23/10/2020 13:21

PRIM now worth less than its 20m GGP shares.

[timbo] 21/10/2020 12:58

Encouraging news from Truspinehttps://investors.truspine.org/investors/announcements/archive/2020/211020

[gb904150] 17/10/2020 09:26

I think everyone would agree that GGP was a fantastic investment.

However, it is the only part of the PRIM portfolio that has performed. No significant exit or uplift on any of the other positions.

One successful investment does not justify directors remuneration of £323k. In addition the administrative costs are £591k.

What is the total portfolio worth - £9-10m? You can't have admin + director costs being 9-10% of that when all they are doing is holding investments.

It's a tiny portfolio and should have tiny costs against it. Unless I'm missing some staggering outperformance somewhere?