Primorus Investments Share Discussion Threads

[megaman2] 27/6/2023 06:49

That's why im saying to pay the bmn cln cash out as a dividend. Or a share buy back or both .

Bmnn probably won't stump up the cash anyway as they are broke ...

If they do the stock selection has been shocking and it's time to return cash to shareholders. Sitting at c 50% to asset value needs a serious effort from the board to change that and a c 20 % cash dividend could be the solution .

"This also aligns with our decision last year to complete a capital reduction, which provided a further means of potentially rewarding shareholders, either by means of a share buyback or the payment of dividends."

The company can buy it's own shares back at 50% discount to net assets ..surely thats a no brainer ?

[gb904150] 26/6/2023 10:12

Hi rental,

I assume that's A$2bn revenues? Where do you manage to get those figures?

Even though Fresho has big revs, does it make any money yet? That's also difficult to tell.

I also like the look/sound of Payapps (was Zuuse) for construction co's automated payment software. Makes a lot of sense.

But again, how to get a handle on revenues and profitability?

PRIM ends up trading like a private equity firm and so like many others trades at a discount to supposed book because of the lack of transparency and liquidity.

To be expected of course for that kind of investment, but it doesn't help the valuation of PRIM much.

PRIM also rated down due to some pretty disappointing other investments - notably RMM most recently.

Plus the overheads of running a tiny, listed investment firm.

[rental] 26/6/2023 09:27

fresho now upto 2 billion per annum on their platform

[dplewis1] 23/6/2023 11:51

BMN 2.5p now

[megaman2] 22/6/2023 15:22

If the company gets the cash keep enough for lights on for 3 years and pay the rest out as a dividend . The recent stock selection has been woeful a monkey could have done better .

[megaman2] 22/6/2023 13:47

I know none core assets are updated on the website..

But this bmn cln is a pivotal issue and I would urge an rns to fully update everyone when it concludes which is theoretically next month . It's a lot of needed cash and succint direct communication is required on this issue as soon as the info is available imo.

The cash is c 30 % of the current mkt cap we should not be finding out via a bmn rns the status quo.

Good luck with getting the cash ...

[megaman2] 21/6/2023 09:45

Cash is now a major problem

[megaman2] 21/6/2023 09:22

Yes awful.rns for prim as the cln is due next month and bmn have admitted they don't have enough cash to keep the lights on ..

Prim need that cash asap ..can't see bmn stumping it up ..maybe some discounted shares ..it's not good at all..

See what happens I suppose ..

[mallorca 9] 21/6/2023 08:40

Bushveld down 16% today on awful results.
Another great Prim investment !

[mallorca 9] 20/6/2023 09:03

Be careful here ... I could see the Company suspending these shares shortly.

[medusala] 16/6/2023 20:10

Thoughts on cash balance / investments since Rupert took over?

[dplewis1] 15/6/2023 17:05

Wasn't Truspine another PRIM investment? That's gone to the wall..

[megaman2] 03/6/2023 05:10

The bmn cln expires shortly .I think july they need to call it in as cash .

BUSHVELD MINERALS LIMITED – Convertible Loan Note for £1,208,988 over the ordinary shares of Bushveld Minerals Limited (for the nominal amount of £1 each with an interest rate of 10% per annum)
4,157,637 shares (including payment in shares for accrued interest) have been converted and sold.
0.098987

So still c £800 k plus 10 % interest should be repaid. I think it's 18 months interest so c £920k. I think expiry is end July from memory . That would solve cash ..although bmn cash position is murky but that will be revealed as their results are due 30 June . They are just re-financing $45 mill of other debt terms have been agreed but not yet completed. Some uncertainties but cash incoming probably...hopefully..maybe ..that's how it is .

[arthur_lame_stocks] 31/5/2023 15:36

PRIM must be getting short of cash by now. They didn't have much when they last reported and I can't see how they can generate any without disposing of investments.

[iceagefarmer] 29/4/2023 09:39

a 5 year old with a pin could have picked better investments..all they need to do is bottom fish and buy vast,qbt,ukog and bloe..problem solved instead of trying to be clever buying these ipo's

[mallorca 9] 29/4/2023 09:22

Also Mustang ...... it's actually quite difficult to be so bad !

[mallorca 9] 28/4/2023 14:29

Or Clean Power Hydrogen !

One disaster after another ...Rambler being the worst.

Hardly investors of the year are they !

[mallorca 9] 28/4/2023 14:26

How's Alt Earth doing .... and Bushveld ?

[mallorca 9] 28/4/2023 14:15

I'm struggling to see any value here at all !
They are definitely going to have to raise funds , so dilution on the way too