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Super Contributor
Good to see these results in probably the worst climate imaginable for metals and minerals.
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6 REPLIES 6
drew
Contributor
Agree, but market doesn't seem to be overly impressed. I couldn't pick up what the NAV per share is and they didn't give shares in issue, so difficult to calculate. Can anyone shed some light?
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drew
Contributor
OK, found shares in issue under the company analysis. By my calculations, NAV per share is around R7.40 to R7.50......wow, trading at half that, surely the discount is too wide?
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Frequent Contributor
The high management fees unfortunately make investors think twice about investing into this company.
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Super Contributor
Are you saying that Mr Market is wrong?
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Super Contributor
I think that what you have to buy into here is a dynamic not often seen in commodities based companies - PGL's avowed intention is clear: buy, develop, harvest, sell. ( Its much more opportunistic than, say Richmont, as regards its Faberge interest - and so I don't expect to see long term holds of assets in this share.) You pay for active management - and if it delivers over the appropriate time period you are happy to do so. Me I hate price taking models - and this has more strings to its bow... 10/10 for innovation and enterprise. This is cheap quality. - i.e. quality management.
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Highlighted
Frequent Contributor
Thanks Partridge for the heads up about PGL. A compelling case, and a nice move up in last few days.
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