Primorus Investments Share Discussion Threads

[pinkdiamondlover] 28/11/2022 17:25

Would be interested in any update you have. My valuation was not so detailed all I have is December 2021 6.36p a share from accounts and more recent 5.06=£7.06 million before CPH2 write down so guess more like £6.7 million now =4.79p/share.
So fall off does seem over done but totally understandable when look at recent direction of travel, dwindling cash and recent investments that have been poor in my book.

[mallorca 9] 28/11/2022 17:16

At that time , Rambler accounted for about £458k of that valuation .... ie,
1,699,910 shares at 27p

[mallorca 9] 28/11/2022 17:12

I did a detailed valuation of Prim in March ... using actual share prices for the listed items and latest funding round pricing for the rest.
The value then was £7.5m.

[pinkdiamondlover] 28/11/2022 17:10

Cheers for that.

[mallorca 9] 28/11/2022 17:08

So Mustang will now come out of suspension and they own Enerox.
The Mustang share price will be around 20p.

Bushveld own $19m worth of shares in Mustang ... and Prim has an interest in Bushveld with further options .

Interestingly .... I acquired some Prim right on the close today .... but I was only able to get 15k shares.

[chutes01] 28/11/2022 17:06

Looks like some trashy retail selling earlier
MMS happy to knock the price without much buying
Paddington needs to up his game and show a level of competency

[mallorca 9] 28/11/2022 17:01

Prim ownes 2,069,063 shares in Bushveld ... for which they paid 9.8p
Today they rose slightly but closed around 5p.

[mallorca 9] 28/11/2022 16:53

So Bushveld will hold $19.4 million worth of shares in the new Mustang ... Mustang will own Enerox.
In acquiring Enerox, Mustang have raised new shares ... diluting their share price from 30p ..at suspension ... to 20p.

[pinkdiamondlover] 28/11/2022 16:51

Would be interested in what the implications of what you highlight are for Primorus £ wise ie much reduced price. We do seem cheap but perhaps rightly so seeing the current value destruction... Have to hope there is still value in the old management investments...
Seems like Rupert would have been better just working with what we had and using cash for share buy backs. This would have worked well with our low overheads... I feel he has been poorly adviced re one or two recent investments.

[mallorca 9] 28/11/2022 16:47

So the 'hot asset' ..Enerox, is being sold to Mustang by Bushveld (where Prim has no interest now in Mustang) but Bushveld (where Prim DOES have an interest) will hold 79m shares in Mustang. Looks like Mustangs suspension will end very soon.

[mallorca 9] 28/11/2022 16:44

Could it be due to this !

[pinkdiamondlover] 28/11/2022 16:40

I would put it down to carry through from last Monday and the fall of another recent investment clean power hydrogen from 41p to current 32.5p. We invested at 45p £1 million. So down on that 300k approx now. We did not fall at time so delayed reaction and 10% fall from £3.2m market cap to £2.9 million is kinda in line with 300k off CPH2 so for me is down to that... Any discount to NTA is down to loss in confidence moving forward. Poor performance to date is my opinion.

[mallorca 9] 28/11/2022 16:28

What has caused today's drop ?

[chutes01] 28/11/2022 16:21

Paddington made a fkg mess of this lot
What’s his next move

[pinkdiamondlover] 28/11/2022 16:13

I would be interested to see just the buys since Rupert became Director and the current state of play on each if we were to look for an exit now... Maybe I am missing something but performance to date on the buy side appears abysmal.

[pinkdiamondlover] 28/11/2022 16:06

Has paddington blown all the cash from GGP yet.? any left in the marmalade pot.?

[pinkdiamondlover] 28/11/2022 16:04

Oh dear oh dear more losses. Apart from hitting the sell button on someone else successful investment.
HAS Paddington actually made one winning investment off his own bat.?
Also how much has padders invested and what is his percentage return so far.?
It appears like it might be net negative?

[megaman2] 28/11/2022 14:57

Awful
No other way to sugar coat this
Talk of patience etc ....

[chutes01] 28/11/2022 14:53

0.1p old money
No progress under Paddington only gone backwards

[knightrider69] 23/11/2022 01:49

Bet he takes it private soon!

[chutes01] 22/11/2022 16:10

Paddington's 'Risk Money fund'

[skyship] 22/11/2022 09:25

STREWTH - yet another disaster for PRIM - CPH down another 33%+...

[amaretto1] 05/11/2022 09:16

Just a side note. I've been in AAL and GLEN since 1.80 and 92pence average. In the Mineing space. I've lived a pretty flamboyant life Style off them for years...Selling monthly allotments and adding dividends for income. i see AGL once gaining traction to totally eclipse them. Unless the strong possibility of a TO. ... Grail !

[amaretto1] 05/11/2022 08:06

Take a look at AGL At present they are in talks with Abbot

[chutes01] 04/11/2022 17:19

Good note, some buying late today which augers well, LND will make and PRIM money at some point, been a shake out there but all will come good
Great entry price here or for adding to core holding, 0.12p in old money
Suspect some legacy holdings are bubbling away nicely
Bring it home Paddington.