All three companies hold mining/resource stocks and (likely) trade below the liquidation value of their assets. All three are buying back stock. Of the three companies, I like Northfield the best. Management-wise, Northfield is clearly the best. G&A is the lowest, insiders aren’t paid ridiculous salaries, and Robert Cudney (the CEO) has an incredible track […]
Kobex Minerals is an illiquid $23.75M company that trades for less than cash. The shares currently trade at around $0.52/$0.54 while the company has around $0.74/share in cash. The company is currently buying back shares. New management has taken control of the company. They are turning the company into an investment company. The CEO is […]
New positions I have initiated without doing thorough research. (I’m not kidding when I say that I haven’t done much research…)
The idea behind this is to buy assets for much less than they’re worth. You try to buy easily valued assets (cash, stocks) at a discount. I don’t really like this style of investing. The problem is that many of these companies have terrible management. The discount can be described as “here today, gone tomorrow”. […]
I would consider Altius Minerals to have the best management team in the resource sector. Currently, this company is trading below what its assets are worth and is buying back shares.
Pinetree trades on the Toronto Stock Exchange at around $0.51/share. Pinetree says that its “net asset value” is around $1.28/share or less as it publishes a NAV calcualtion every month. This is a big, big discount to NAV. It’s also in a terrible business and has bad management. It definitely qualifies as a cigar butt.
Right now there is a lot of carnage in my portfolio.
Glenn Chan's Random Notes on Investing 