The latest NTA I can find is 0.7575 on the 4th November, ASX 200 up over 9% since then.
Would she have much a much more accurate valuation than us ?
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How you worked it is how I work it but I would think its highly likely she has built her own model with a spreadsheet of holdings which updates continuously. Something I must get around to doing at some stage seeing as I have "a few" warrants now. Bit harder for us mere mortals because we don't have right up to the minute shareholdings and details of the degree of forward exchange cover if any. All that said I do think she has been paying a material premium so I will await with interest this afternoon's NTA announcement.
This purchase of warrants by Carmel, Beagle, and others........
Is it for the expected rise in the value of the warrants?
Or is it for the conversion of the warrants into shares next Oct?
If I buy n warrants, doesn't that commit me to paying out $n*0.86 next Oct? In which case, I need to be careful not to over-commit.
Most are buying with the intention of exercising the warrants next year, at whatever the exercise price is.
You can buy warrants between now and then, but you are under no obligation to exercise them until the cut-off date next year. If you decide not to exercise them you can sell your warrants on the market.
I always set aside the amount I will need to exercise - so that money is there if I decide to go ahead.
http://nzx-prod-s7fsd7f98s.s3-websit...133/334967.pdf
She bought more then 100k MLN shares around 1.22 on 10th Nov ...a day before warrant exercised shares hit the market to bring price down 5%
Very interesting things she doing in shares of companies she is a director of ....
Thanks I do the same. It is highly likely in my opinion that the warrant exercise price on 29/10/2021 will be 64 cents (70 cents less dividends paid in the next year which I estimate at 6 cents in total).
With the shares currently at 90 cents and the exercise price likely to be 64 cents, (difference obviously being 26 cents), the warrants would appear to confer quite some value especially when one starts to think about their leverage into an economy recovering from Covid in 2021. I hold plenty of warrants and want more.
Mr B what is the long term stratergy for BRM, KFL and MLN. Obviously one cannot always have enough cash to exercise the warrants?
Do you sell your warrants or some of them. Pretty rapidly(25% increase each year) if one bought all ones warrants these funds would become most of your portfolio.
The last warrant exercise for BRM was Nov 2019 and the next isn't until late October 2021 so nearly 2 years between the last two issues so that doesn't present a problem to me as I am headed upwards in my intention to hold these excellent fully managed investments in this group but as you suggest, some people may need to sell shares to afford to exercise their warrants.
Carmel buying more BRM and MLN today, and here was me thinking of taking some profits....
In markets every decision will end up in regrets in hindsight as either u sold too early or too late ...as perfect timing never happens ..
So a very wise man has said .... " Sell and regret is better then not sell and regret " implies when sold early ...atleast u got some profits ...if too late then profits gone ...:p