SRL - Straits Resources

[kennas]

Tritton exploration drilling:

'Excellent' results out.

Extending known mineralisation 'significantly'.

19m@.92% Cu
3m@3.3
24m@.81.....

Actually, these aren't very good at all...



Are they kidding?

[kennas]

SRL starting to look oversold again, but sum of parts. I've lost track of NTA after the coal breakup but they were supposed to be worth $2.50 or something just on the cash component about 6 months ago.

Anyone keeping scores here?

They are really just turning into a LIC I feel, which always seem to trade under NTA.

[JTC]

Did they end up paying out that Divi from the cash allocation?

Are they intending on paying on a regular divi?

What happened to the gold project?

A lot of questions here...does seem like a bit of an LIC...SP is looking rather weak with the way the market has been over the last few months though?

Maybe because they don't really do anything?

[kennas]

Quote: Originally Posted by JTC Did they end up paying out that Divi from the cash allocation?

[kennas]

It would behove members to check out the NTA of Straits and what their current MC is. I believe it is getting into significant under true valuation territory like it was during the GFC.

I will do my best to find the time, but I think their investments and cash backing are way above their current MC which is a no brainer short term arb trade.

There was a comment in the Fin in regard to this this weekend. Can't post it because they make you pay for their on line stuff.

Would be great if someone could add some substantiation to this with some facts and figures.

Cheers.

[ormond]

Quote: Originally Posted by kennas It would behove members to check out the NTA of Straits and what their current MC is. I believe it is getting into significant under true valuation territory like it was during the GFC. I will do my best to find the time, but I think their investments and cash backing are way above their current MC which is a no brainer short term arb trade. There was a comment in the Fin in regard to this this weekend. Can't post it because they make you pay for their on line stuff. Would be great if someone could add some substantiation to this with some facts and figures. Cheers.

[zerolimit]

just read on SMH


that argonaut analysts looking a safe portfolio blah blah


"Straits Resources (SRL) was included on the basis it trades at a 40 per cent discount to net tangible asset backing."


would be interested to know what the actual NTA is

i do not hold SRL (yet)

[kennas]

Quote: Originally Posted by zerolimit "Straits Resources (SRL) was included on the basis it trades at a 40 per cent discount to net tangible asset backing." would be interested to know what the actual NTA is

[Kremmen]

Huge movement all of a sudden on SRL. Up 10c today, after rises for the previous 3 days as well. Maybe there's news we don't know, or maybe it's just herd mentality?

[explod]

Quote: Originally Posted by Kremmen Huge movement all of a sudden on SRL. Up 10c today, after rises for the previous 3 days as well. Maybe there's news we don't know, or maybe it's just herd mentality?

[kennas]

Can anyone else confirm the current stats on SRL.

255m shares on issue at $1.28 = $326m mc.

Indirect holding in SARL is worth about $321m.

So, just on that level, their mines are worth just $5m.

But wait, there's more.

They have $263m in cash and invstments.



So, not including their mines, they are trading $260m under NTA, or about $1.00 ish per share.

Is this no brainer territory?

[JTC]

Quote: Originally Posted by kennas Can anyone else confirm the current stats on SRL. 255m shares on issue at $1.28 = $326m mc. Indirect holding in SARL is worth about $321m. So, just on that level, their mines are worth just $5m. But wait, there's more. They have $263m in cash and invstments. So, not including their mines, they are trading $260m under NTA, or about $1.00 ish per share. Is this no brainer territory?

[kennas]

Quote: Originally Posted by JTC Think back to your Brockman day's Kennas I'd just be watching the markets at present...long term stock market is a weighting machine or whatever the saying is! The thing with BRM and SRL is that BRM were on there way to doing something and had a stockpile of cash. SRL just remind me on an investment fund but as a Miner/Energy Co. Kind of like that dud MLM

[kennas]

Looks to have bottomed, for the minute.

From their quarterly out today:

Quote: CORPORATE• Hillgrove antimony gold mine‐discussions continue with interested parties. • At the end of June 2010, the Straits Group cash and investments (excluding SARL) totalled A$251 million. • At the end of June 2010, SRL’s indirect holding in Straits Asia had a market value of A$348 million.

[Boggo]

Will it or won't it.

Its trying to get over the line, a significant area of resistance.
.

[Boggo]

SRL is now in the zone depicted on the chart above.
Signs of a potential turnaround in its news today and a 5c unfranked dividend in three weeks you give it the momentum to break through.

Just my

[kennas]

Fundamentally was way undervalued and now showing clear break through $1.50 and the downward tend also. Couldn't see it get back to $7.00 from here could we? Hasn't recovered like most other copper, coal stocks really. Probably because Triton is crap, but if Cu keeps going may recover a bit more. Still fundamentally well under NTA.