Mon, Jul 18, 2011 - 2:16pm
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.
Edited by: metcoalfan on Nov 8, 2014 - 5:20am