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![Quote](images/misc/quote_icon.png) Originally Posted by winner69
Agree Ferg about the ‘poorly worded’ view
I understand the extract posted here is from a much fuller report.
In my opinion that extract is not how FB analysts usually write / comment …..to the extent it just does not seem to be there doing.
A couple of posters have mentioned was it AÍ generated?
So I have asked FB (after outlining what I think) ‘ …do any of your analysts use AÍ to generate all or part of your company reports?’
Be interesting if there is a response
Disc: not a FB client or have I read that full RYM report (just the extract posted here)
Only thing missing was their graphs which I didn't include.
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Opportunity to buy below $0.60 is fast evaporating. V shape recovery back to $1 looks ON following RYM price action. ![Thumbup](images/smilies/thumbup.gif)
Up the Wahs
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![Quote](images/misc/quote_icon.png) Originally Posted by allfromacell
Opportunity to buy below $0.60 is fast evaporating. V shape recovery back to $1 looks ON following RYM price action.
Up the Wahs
99c to be precise. 😉
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![Quote](images/misc/quote_icon.png) Originally Posted by Daytr
99c to be precise.
Are you in now Daytr? Or waiting for some arbitrary indicator higher to tell you its safe?
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Wait for bull signal...lol....
Boat already sailed bull ..
Sayonara!!!
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![Quote](images/misc/quote_icon.png) Originally Posted by allfromacell
Are you in now Daytr? Or waiting for some arbitrary indicator higher to tell you its safe?
No, I did look at RYM at $3.42 but got a bit greedy and also didn't want to pull money from resources stocks.
Even though RYM is now up 25% in that time my resources stocks have done even better.
I'm not overly bullish like some, as I think there are still some fundamental issues both OCA & RYM need to address.
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![Quote](images/misc/quote_icon.png) Originally Posted by Ferg
It's a poorly worded article as a whole but what the analysts are trying to say is that given the ORA effectively does not have to be repaid for 30 years and there is no interest on it during that time, then the discounted value of the ORA today is around 10% of the current book value when you consider the time value of money. The ORA is classified as a debt according to IFRS accounting rules, but the FB analysis says that an ORA is similar to a long dated 'account payable'. In summation, FB are saying IFRS accounting throws up some anomalies for RVs. In addition, FB stated the RV assets are unlikely to be overstated, but the liabilities certainly are overstated.
If I have interpreted that correctly then Forbar is saying the true liability is 90% lower, or 1000% overstated.
But I don't even think that seeing it as a liability is the correct way of thinking about it. Only in the technical GAAP sense it is.
The ORA provides massive cashflows in relation to equity growing at a 15% CAGR, at low risk and with no interest. Surely you'd call that an asset, not a liability from a economic utility perspective...
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![Quote](images/misc/quote_icon.png) Originally Posted by Greekwatchdog
Only thing missing was their graphs which I didn't include.
I'd be interested in seeing those if you wouldn't mind uploading them here or PMing me
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I have cash saved up again to buy more if I wanted, but my pockets are so full of OCA that I'm not sure that I'm willing to buy more at 59c lol.
Probably just anchoring and I'd be smart to buy more at 59c irregardless of it's very large size in my portfolio.
Decisions, decisions...
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C'mon ValueNZ, I added another 50k shares yesterday - go big or go home.
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