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Rupert Hargreaves

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  • Mandalay Resources Corp; One Of The Market's Most Efficient And Undervalued Miners [View article]
    Thank you for reading!
    Mar 24 04:44 PM | Likes Like |Link to Comment
  • Mandalay Resources Corp; One Of The Market's Most Efficient And Undervalued Miners [View article]
    Chile
    Mar 24 05:18 AM | Likes Like |Link to Comment
  • Asanko Gold Is A High-Risk Deep Value Play With Many Short-Term Risks [View article]
    My mistake, I've not studied the deal closely yet.
    Jan 2 10:53 AM | Likes Like |Link to Comment
  • Asanko Gold Is A High-Risk Deep Value Play With Many Short-Term Risks [View article]
    I posted in the wrong place, my reply is below.
    Jan 2 09:00 AM | Likes Like |Link to Comment
  • Asanko Gold Is A High-Risk Deep Value Play With Many Short-Term Risks [View article]
    The way I'm looking at it now; I believe Asanko is issuing 83 million shares for its PMI buyout. Asanko only has 85 million shares in issue at present. That gives a cash value per share of $1.13 and a book value of $1.4 --- they'll pick up some goodwill from this deal. On that basis this is no longer a deep value play.

    Asanko was attractive due to its discount to book, now it trades at a premium. I really don't like that. But I'm not a fan of gold, or gold miners so this view could be slightly bias.
    Jan 2 08:26 AM | Likes Like |Link to Comment
  • Asanko Gold Is A High-Risk Deep Value Play With Many Short-Term Risks [View article]
    The two biggest threats remain, Ghana's inflation and the gold price, both of which are not moving in the company's or indeed industry's favor. The synergies from the two projects should be beneficial though. If we knew where the gold price would be 4 - 5 years from now I would be more positive but I just find it hard to get excited with the gold price plummeting. Long-term if the gold price remains at a good level the PMI merger will be beneficial to shareholders. If the gold price continues to fall it'll be a lame duck.
    Jan 2 06:53 AM | Likes Like |Link to Comment
  • Atlantic Power: Debt And A High Cost Of Capital Continue To Pressure The Dividend Payout. [View article]
    I'm not sure where you're getting your numbers from. Free cash flow has been negative during the last twelve months and the dividends cost the company just under $53 million in the six months to June 30th.

    On what basis do you believe they will be able to refinance?
    Dec 20 02:00 PM | 1 Like Like |Link to Comment
  • Big Oil Is Suffering From Falling Returns But Valuations Are Now Attractive [View article]
    SLB, NOV, CAM are all great plays. Personally CAM is my favorite. The company is specialist in high spec drilling kit, which is going to be in demand as exploration and production is driven to even more remote areas.
    Sep 9 12:37 PM | Likes Like |Link to Comment
  • Big Oil Is Suffering From Falling Returns But Valuations Are Now Attractive [View article]
    Personally, I have no idea, or care - am not attempting forward guidance. I am a value investor, I'm not trying to predict what is going to happen, these co's are trading at multi-decade low valuations and that is appealing. There are many different factors around right now that will affect their future outlook, Syria, China, the Fed, Europe, Brazil and we don't know how this will affect the market.

    However, we do know that currently these stocks are cheap and they have only been this cheap once or twice during the last decade suggesting that their valuations will revert to the mean.

    In conclusion, this article was designed to pinpoint value and why value has occurred.
    Sep 9 12:35 PM | 2 Likes Like |Link to Comment
  • These 6 Companies Cannot Support Their Dividends [View article]
    See above.

    I did make a mistake in this case. Personal research lead me to conclude that Seadrill is able to sustain its payout,on a longer term basis, not just from historical cash flows. It would also appear that Seadrill has been achieving one of the best returns on equity and assets in the oil & gas drilling sector.
    Aug 29 03:48 PM | 1 Like Like |Link to Comment
  • These 6 Companies Cannot Support Their Dividends [View article]
    I will admit I was wrong on Seadrill. However, based on the historic numbers, the company cannot sustain its dividend from cash flows - this is the metric I like to work by.

    That said, it looks as if the company is able to sustain its payout based on a worked through analysis of its outlook/spending debt levels.
    Aug 29 03:45 PM | Likes Like |Link to Comment
  • The Female Health Company: A Defensive Company With Plenty Of Cash [View article]
    The FHCO is already building relationships and trust with NGO's and non-profits, as well as funding awareness programs, which will boost its exposure in the long term.

    I'm sure the company will be able to compete on cost, they have plenty of cash in the bank to construct new lower cost manufacturing facilities.
    Jun 19 07:32 AM | Likes Like |Link to Comment
  • The Female Health Company: A Defensive Company With Plenty Of Cash [View article]
    There are actually several similar products that are still being tested by the WHO and while Cupid is only the second product to gain WHO approval I believe several more will achieve that qualification in the near-term. However, the FC2 is the only product certified by the FDA and the The Female Health Company has first mover advantage, which should be beneficial in the longer term.
    Jun 18 01:25 PM | Likes Like |Link to Comment
  • The Brent-WTI Price Differential Continues To Contract But How Are Refiners Reacting? [View article]
    Refiners are actually dropping the prices that they pay to producers in order to account for transportation fees (I was going to mention this in the article). Oil, per barrel costs about $2-$3 to transport and refiners are slashing that off of the cost that they pay per barrel to producers before its gets to their gates --- another reason why the price of different WTI based oils will continue to drift lower.
    Jun 12 03:37 AM | 1 Like Like |Link to Comment
  • The Brent-WTI Price Differential Continues To Contract But How Are Refiners Reacting? [View article]
    I am glad you found it helpful.

    It'll be interesting to see how the situation plays out. Many OPEC members do need $100 oil but OPEC accounts for less than half of the worlds oil output these days. With so much cheap oil coming out of the US and demand stagnating worldwide, OPEC will have to drastically slash output along with other producers around the world to maintain prices above $100.

    Still, the refiners in the US should keep chucking out huge profits for a long time yet. Am long $NTI, $HFC.
    Jun 6 03:32 PM | 4 Likes Like |Link to Comment
COMMENTS STATS
56 Comments
26 Likes