Member poll: Bluechip sale and reinvestment or hold

Discussion of the proposed Cashback Investment Club

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We should....

Sell bluechips and invest in Pure Gold Mining
6
55%
Sell bluechips and invest in Bakkavor
5
45%
 
Total votes: 11

AAAlphaThunder
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by AAAlphaThunder » Sat Aug 01, 2020 12:31 am

parchedpeas wrote:
Fri Jul 31, 2020 11:51 pm
Need to add, I don't care what happens here. But the proposal on 13th July, which has been supported twice but delayed twice, is no longer the same proposal.

If that's an accident, fine. But we've bought lots of rubbish a lot more quickly that this one. Why are we dragging our heels here?
Same. I'm OK with whatever choice we make so long as we don't procrastinate.

If the imutual Cashback Investment Club want to bag the "big" opportunities we need to be more proactive.
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garindan
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by garindan » Sun Aug 02, 2020 11:22 am

parchedpeas wrote:
Fri Jul 31, 2020 11:47 pm
This thread floated on Jul 13, 2020 and we're still no nearer to knowing what's next.

- PGM won both polls.
- The price is 1.20 at close today.

If we're going to do this, it needs to be now. Otherwise, after three weeks, we're not really asking the same question.
parchedpeas wrote:
Fri Jul 31, 2020 11:51 pm
Need to add, I don't care what happens here. But the proposal on 13th July, which has been supported twice but delayed twice, is no longer the same proposal.

If that's an accident, fine. But we've bought lots of rubbish a lot more quickly that this one. Why are we dragging our heels here?
I understand your thoughts. My concern is the winning number of votes hasn't been 8 votes or more, as previously mentioned, which is the winning post. If it had been then things would have been clear and we'd have done something. I am trying to be fair, that's all :thumbup:

Subsequently, from the valuation Rich has just done for us, we have £431.44 available in cash and whatever funds raised from selling the bluechips. This will equate to ~£1200.00 or so.

My thought is we make the decision to invest in PGM but don't invest all this money - stick to investing the funds realised from the sale of the bluechips, or at least £750, as this is the 1% fee threshold. That will leave some cash in our hands, which when combined with the sale of another share or two in the coming weeks will give us more purchasing power, potentially for a couple of new shares over the coming few months. We should certainly revisit Bakkavor again as soon as we can.

Thoughts on this approach? If I don't hear otherwise I'll begin by selling the bluechips on Monday with intention to buy PGM as soon as the funds are available.
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by garindan » Mon Aug 03, 2020 11:28 am

Update:

The bluechips were sold this morning as follows:
ITV ITV 3 Aug 2020 Best Sell 246 54.6282 126.89
VOD Vodafone 3 Aug 2020 Best Sell 273 115.7955 308.62
AV. Aviva 3 Aug 2020 Best Sell 117 264.6980 302.20
So we got £737.71 for them in total. I'll bump that up to £750 worth for the purchase. As soon as the funds show as available I'll be looking at purchasing PGM.
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by parchedpeas » Mon Aug 03, 2020 1:39 pm

If people are still keen on Bakkavor, then Codemasters has given us a nice little boost and the boat company are also up.

If we really are looking to consolidate, then there are a few options available.
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by garindan » Tue Aug 04, 2020 10:10 am

So the deed is done. Details of the purchase are as follows:

Quantity: 573
Buy price: 129.4500p
Commission: £7.50
Total: £749.25
Actual average price inc. commission: 130.8p

Taking the above into account....

Bluechips cost us:£1818.19
Sale funds, including accrued dividends before sale: £737.71 + £251.56 = £989.27
Deficit: £828.92 (45.6%)

Coverting this to Pure Gold Mining target sale price:

-> ~191p - if we target recouping the same percentage as lost from the original investment
-> ~276p - if we target recouping the entire monetary loss from the original investment

If we get to be where we want to be with PGM it is entirely possible any movement from the lower target to the higher target could come quickly, as is the nature of results from gold mining pours. However, we also need to consider that we have the original PGM holding. We need to discuss exactly what our targets are with this too, now we have made this second investment. A new thread will be opened to do this.

Let's see where this takes us - our bravest and boldest move yet.
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Re: Member poll: Bluechip sale and reinvestment or hold

Post by AAAlphaThunder » Wed Aug 05, 2020 9:36 am

Good news. Well done everyone.

We are doing something, being proactive and with a bit of good fortune this shall pay off handsomely.
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