Prosperity Minerals Share Discussion Threads

[celeritas] 18/6/2013 09:57

jh, I'm not sure why he needs the UK aim listing anyway.
I can only assume what I would do and that would be to make an offer for the UK listing. He really needs to get the ball rolling with an initial offer, it won't be anywhere near the NAV but it'll be a hell of a lot higher than the current share price

David Wong does like to do the deal, this would be a major coup for his associates back in China.

[celeritas] 18/6/2013 09:49

We should also get the first good update for the retail space, rental income and take up will be very interesting.

[john henry] 18/6/2013 09:49

Any ideas Dr C / Celeritas why you think Wong has taken out PMHL for around 150p

It would certainly make good business sense.

TIA

[dr contrarian] 18/6/2013 09:40

Celeritas - Not bad selling prices considering the Company was originally hoping for 21000 RMB/m2.

Comparing the third party websites current figures with the Comapany's own figures, I'm guesstimating that we have now sold 602 units out of the original 649 and have 47 units left to sell.

[celeritas] 18/6/2013 09:29

Regarding Oriental Landmark.

By the 24th June 2012 we had sales of £67m and had received £56m

By the 30th Sep 2012 we had sales of £135m and had received £121m

By the 30th of Sep 2012 we had left:-

1st block 2 units avg selling price 31,000rmb
2nd block 23 units avg 34,000
3rd block 44 units avg 39,000
4th block 112 units. avg 41,000

[dr contrarian] 18/6/2013 09:20

It's also possible, though I don't think probable that the chairman via PIHL will announce an opportunistic bid to takeout the remaining shareholders, I don't think anything below the PMHL float price of 150p would succeed though. Even at 150p he would be getting the assets at less than 50p in the pound.

[dr contrarian] 18/6/2013 08:53

Looking for the Company to confirm (what most already know on here) and officially announce that the property pre-sales are significantly ahead of expectations. The last official pre-sales property update was the Interims in November 12.

With the ACC stake accounting for around 90% of the PMHL market cap, the property and other assets purchased with the $484m proceeds of the cement disposal in 2010 are still being given very little value (less than 5% of their Net Asset Value).

Hopefully will also see more action to narrow the difference between the share price and net asset value.

[john henry] 18/6/2013 08:23

Positive results Dr and the share price should trade above 100p despite the technicals

being somewhat stretched at the moment.

[dr contrarian] 18/6/2013 08:13

Just compared the last two years PIHL results date with PMHL results date.

Appears that PMHL announce 1 day before PIHL. Therefore looking for prelims to be announced on Thursday 27th June.

[eddie catflap] 18/6/2013 07:57

28th June for results?...

PROSPERITY INTERNATIONAL HOLDINGS (H.K.) LIMITED

(Incorporated in Bermuda with limited liability)
(Stock Code: 803)
DATE OF BOARD MEETING
The board of directors (the
''
Board
''
) of Prosperity International Holdings (H.K.) Limited
(the
''
Company
''
) hereby announces that a meeting of the Board of the Company will be
held on Friday, 28th June 2013 at Suites 18016, 18/F., Tower 2, The Gateway, 25 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, for the purpose of, among other matters, (i)approving the final results of the Company and its subsidiaries for the year ended 31st March 2013 and publication of the final results; and (ii) considering the recommendation on the payment of a final dividend (if any)

[dr contrarian] 18/6/2013 07:54

Stock must be tight if you need to pay 3p over the ask for that size.

[john henry] 18/6/2013 07:32

Nice 40k buy @ 88p stamped late yesterday.

[dr contrarian] 17/6/2013 11:48

Celeritas - interesting research on the property pre-sales, seems that the cash from pre-sales is flowing into the company's coffers soon (60 days) after the purchase is made.

... as the sums involved $190m as of Sep 2012 are substantial, this is significant.

[celeritas] 17/6/2013 10:52

I agree Dr, should be within 2 weeks now.

[celeritas] 17/6/2013 10:50

From my post dated 14th June.

Re-visiting my post yesterday.

Interim results November 2012

Up to 30 September 2012, contracted sales of residential units amounted to RMB 1,144 million ($180 million) with the Company having received approximately RMB 1,043 million ($164 million) in cash. Since then, contracted sales have increased to RMB 1,318 million ($211 million) with RMB 1,217 million ($190 million) already received

There is obviously a time lag between the sale and receiving the money.
Sales of 211m with 190m received, 21m difference.

Sales are being quickly converted into cash which means the buyer is following through with the entire purchase.
The time lag isn't long at all, couple of months I would say from the initial signing.


Update
The period is 60 days from signing to paying the full amount, a non refundable 10% deposit is required.

As I said in the post this is a very short time frame which shows in-between the sale and money received.

[dr contrarian] 17/6/2013 10:31

Just a minor announcement today, thought it might be the preliminary results when the RNS popped up.

Sure we will see the prelims sometime in the next two weeks ... since company recently emailed .... 'As in previous years, we expect to release the Company's results for the fiscal year ended 31 March 2013 by the end of June, as soon as the auditors have completed their audit of our accounts.'

[edmundshaw] 16/6/2013 09:54

"We need to see a compelling and creditable medium term growth strategy"

I take it you are not including the various large, long term iron ore agreements as compelling? They do not seem to get a mention; understandable I suppose as their long term profitability is so opaque...

[john henry] 14/6/2013 15:14

Prosperity should make a bid for Zanaga (ZIOC) imho

I HOLD.

[john henry] 14/6/2013 13:37

Dr C Volume would need to vastly improve.

Average daily volume the last 6 months is around 20-30K

[dr contrarian] 14/6/2013 09:52

JH - Despite the large spread CANA are only offering an online quote of 1.5k at 84.

I think a move away from marketmaker driven (SEAQ) to an order driven (SETS) would also be a plus for the Company, however not sure how viable such a move would be.

[philjeans] 14/6/2013 09:44

The market needs reassurance on a CONTINUING income and profit stream; whilst the big numbers coming through from the developments are very pleasing and welcome, what next?

Is there more in the pipeline or was this just a lucky break? A typical speccy punt?

There are many Chinese companies sitting on piles of cash, some very profitable, but the wider market is just not interested - NBU a very good case in point - a mega growth business with no debt, super profit story and M/C fully covered with cash on the balance sheet!! But no takers.

We need to see a compelling and creditable medium term growth strategy, not just a flash in the pan.

[dr contrarian] 14/6/2013 09:39

As posted yesterday, recently received this from the company.

'As in previous years, we expect to release the Company's results for the fiscal year ended 31 March 2013 by the end of June, as soon as the auditors have completed their audit of our accounts.'

Think we will see results announced in the last week in June

[john henry] 14/6/2013 09:32

MMs obviously are not keen to make a market at present.

CANA on the BID and OFFER with a 5p spread.

[celeritas] 14/6/2013 09:30

Dr, not a trading update but results in 2 to 3 weeks.
Regarding a roadshow, the company need to do something to get pmhl noticed. WCC did very well when they had the same problem when listed in the UK.

I could go on Dr, the points I mentioned are what I would have at the top of a results page.

[dr contrarian] 14/6/2013 09:28

Celeritas - You forgot to mention the high likelihood of a maintained 6p dividend payout around Mid August :-)