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How to value Pallinghurst

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17% of portfolio value lies in platmin - which still has to get firing, and very little is known about its projected cash costs and production. 24% lies in Faberge, but I have tried in vain, and can find absolutely nothing about the balance sheet of this company. 25% of the portfolio is in cash, which is a good thing right now. The rest is split up in steelfeed business and a missfiring Gemfields investment (2.6%). So how do we arrive at a price? I guess everything rides on Faberge and Platmin, which makes PGL a pretty risky bet, IMO.
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Super Contributor
As far as I know they also own some very valuble land from a solar energy perspective.. but thats just a side thought.
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Have not seen any reference to that?
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Super Contributor
Lots of land just north of the orange river if I remember
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Super Contributor
look at Richmont as regards Faberge- BUT where is their stuff made - eg if Swiss made then not good - in this business its all about outlets - and this is super rich stuff - a naroooooow market - but one less inclined to suffer when compared wiht Richmont's.
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Reading their prospectus, the value proposition around Faberge is that they are circumventing the expensive luxury store distribution model in favour of online sales. This is a completely untested model, so the jury is out as to whether it will succeed.
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