Irwin Michael, B.Com, MBA
Com Dev International Ltd.
CDV-T
HOLD
Dec 03, 2013
He held it for 5 years but trimmed. Normally he doesn’t buy high tech but he thought it was fundamentally cheap. They turned around their business. Management is excellent. If it is a play company, it will go higher than $5, but the government will be very careful who is allowed to buy into it.
He used to own this. He was interested in the West Africa play, but he was looking for a higher grade play instead. Right now West Africa is not a safe play geopolitically speaking. This is probably impacting the share price. Infrastructure constraints make it more expensive in their area as well -- power comes strictly from diesel.
They a 5-million ounce deposit, rare. A low-grade one in Ghana which scares some investors, and they don't have production financing in place, but will come. But he's bullish about Ghana where insurgency fears are way overblown.
(A Top Pick Mar 26/21, Up 180%) Second largest shareholder after Murray Edwards.
Would buy again.
Months away from starting a meaningful dividend.
Expecting a 7-9% dividend yield.
Expecting a double in share price.
He held it for 5 years but trimmed. Normally he doesn’t buy high tech but he thought it was fundamentally cheap. They turned around their business. Management is excellent. If it is a play company, it will go higher than $5, but the government will be very careful who is allowed to buy into it.