Curious if there are any AAB/AABVF followers here? They are a merchant bank, run by David Stein who was previously the gold analyst at Cormark. Portfolio is roughly 60% gold with an NAV around 1.50, yet trades for around .90 (and NAV includes 2 gold royalties which are still being valued at sub 1000 ounce). Mgmt has grown NAV up from roughly .90 cents in early '09. Unlike a mutual fund, Aberdeen places money into private resource start-ups, and then along with Forbes & Manhattan (AAB is like a public back window into F&M's deal flow) helps these small companies to prove up, list and ideally get taken out a few years later by a major. Lots of warrants and performance shares inside the portfolio, and they are tracking to have 3 of their private portfolio companies IPO by end of year. And they pay a divvy - one cent twice a year. Warrants strike 1 buck expiring June 12 also out there. Feedback appreciated.
New member, first post. Looks like not too much interest here on this one, I own some so thought I'd comment. Bought AAB about ten months ago and have added recently, also hold warrants, previously bought and sold PNP which I made money on but never seems to realize it's potential. My thoughts on PNP, too many holdings and requires a certain climate to do well, ie: a rising tide lifts all boats. AAB is a little bit of a different beast, has a smaller portfolio and as you say uses a different methodology for company investments. A good run up in a couple of it's holdings can really affect net asset value. Was happy to see the dividend, this always gives me a bit more confidence in my investments when there is a payout. Something you may wish to look at is FNR (49 North Resources), similar idea, based in Saskatchewan. It's had a good run over the last year but is still a good value play.
First I attempted to post, but site logged me out in midst of it all and when I tried to save it, gonezo.
Typical of my Aberdeen experience. But I'm not giving up, yet.
I saw Aberdeen pitched by Dave Skarica, did my due diligence, liked what I saw and bought a starter position. And .... I'm down some. Yippee.
The disconnect between assets, potential, etc. and share price reminds me of a junior I also own, Evolving Gold (EVG). This is another management team that feels there is something wrong with telling a good story and promoting the stock, which has hamstrung the price, much to the chagrin of shareholders. I mean, EVG has a past relationship with Newmont, a cash injection from Goldcorp, and a JV with Agnico Eagle on a Wyoming property.
They spun out Prosperity -- at a measly .15 a share to the U.S. folks -- and it has traded near 1.50 before dropping back to current price a little over a buck. Prosperity couldn't wait to promote cores with "visible gold,." to the benefit of the share price. Evolving Gold would still be sitting on its hands awaiting assays.
I keep telling the EVG types, there is nothing illegal, immoral or unethical in selling sizzle when you have the steak. EVG bringing the IR function inhouse recently perhaps suggest that management perhaps at last has seen the light.
Now, the question is, will Aberdeen sell the sizzle any time soon? Thoughts?
My first post here. I like AAB's prospects too. One thing that helps along with the dividend is that they're buying back cheap shares. The dividend is about 2 1/2%, trailing earnings are what?- 2 or 3 times- and they hold a lot of exciting names. I don't think I've ever seen such a strong penny stock.
Stewart Thompson is really liking this stock. Think I'll get some.
Met, or others,
What's it going to take for this stock to go from its trading price (.76 U.S. as I type) to the reported $1.42 in shareholder equity? It's been trading at a substantial discount as long as I've been aware. My average purchase price was .916 U.S. which at the time was a big discount to shareholder equity, too.
It just seemed so promising when I bought, and continues to seem so. But I have to ask, what sort of catalyst will help us realize that value? Put another way, why isn't this double-in-waiting being snapped up and that discount rapidly disappearing?
Anyone similarly underwater? Are you adding here?
So, Aberdeen settles its dispute regarding the loan with Simmer & Jack and the share price tanks huge today.
The settlement didn't seem that awful to me. What am I missing, Aberdeen cognoscenti?