GoldLink Insurance

[pumping]

Originally Posted by knightofdelta

At 52K the stock is selling at a forward PE of 3.06x based on the Q4 projected PAT for December 2009. Not a bad idea...

Based on actual Q-3 result, it gets even better selling at 1.6x. We get around the same value using the Q-4 projection which is only for 1 quarter and add to the Q-3.

Re: GoldLink Insurance

--------------------------------------------------------------------------------
23-11-2009
GOLDLINK INSURANCE PLC (THIRD QUARTER)
INTERIM REPORT FOR THE PERIOD ENDED 30TH SEPTEMBER 2009
2009 2008
GROSS PREMIUM INCOME N3.096b N2.728b
PROFIT BEFORE TAXATION N1.182b N1.318b
TAXATION (N91.039m) (N86.887m)
PROFIT AFTER TAXATION N1.091b N1.231b
RETAINED EARNINGS N948.567m N1.101b
BALANCE SHEET INFORMATION
31-09-09 31-12-08
FIXED ASSETS N3.002b N2.873b
STOCK N4.114b N3.751b
CASH AND BANK BALANCES N48.233m N66.098m
OTHER DEBIT BALANCES N1.949b N1.793b
OTHER CREDIT BALANCES N307.238m N442.377m
WORKING CAPITAL N5.531b N4.865b
NET ASSETS N7.653b N6.967b
-------------------------
I found the full year result for 2008 on their website. Maybe this will shed more light.

http://www.goldlinkplc.com/goldlink2008_accounts.pdf

[horlads]

Originally Posted by knightofdelta

At 52K the stock is selling at a forward PE of 3.06x based on the Q4 projected PAT for December 2009. Not a bad idea...

My fear is.... the authenticity of those results...we might have some good cooks in their management...the only down side risk is getting stuck at garage sha.

[pegheneji]

Originally Posted by pumping

Now the prayer has been practically answered.

I'm trying to resist the temptation to buy this stock now with 4.55B shares and price hovering around 50k. That is 25k compared to the price before re-construction.

Anyway, this is purely speculative but let me go with it.

i have been picking it with increasing volume 54k, 52k and still waiting for the 50k order to be executed. i have a long term view for it sha and have strong appetite for risky stocks that have the ability for high returns.

[pegheneji]

Originally Posted by horlads

My fear is.... the authenticity of those results...we might have some good cooks in their management...the only down side risk is getting stuck at garage sha.

if you get stock for the 50k garrage make you park your motor take okada go home. honestly, i tink it better that if the stock keep sinking and u start praying it should get to where it was.

[horlads]

@pegheneji, i beg never create net bid for this stock ooooooo...dis your increasing volumes dey fear me oooooo.

[pesadilla]

Goldlink is now the new kid, i still dont know why many investors are shying away from insurance sector.the sectors index hit an all time low today.

[pegheneji]

Originally Posted by pesadilla

Goldlink is now the new kid, i still dont know why many investors are shying away from insurance sector.the sectors index hit an all time low today.

i hope there is no bad news that we are not hearing o! if so make i buy finish before people like the Hisppy start to look am o!

[hispy99]

Originally Posted by pegheneji

i hope there is no bad news that we are not hearing o! if so make i buy finish before people like the Hisppy start to look am o!

e be like say u dey confuse me with Pumping and waaan5 o

[horlads]

Originally Posted by hispy99

e be like say u dey confuse me with Pumping and waaan5 o

Originally Posted by pegheneji

i hope there is no bad news that we are not hearing o! if so make i buy finish before people like the Hisppy start to look am o!

Originally Posted by pesadilla

Goldlink is now the new kid, i still dont know why many investors are shying away from insurance sector.the sectors index hit an all time low today.

chei! wahala dey oooo! pumping, see wetin we don cause.i been no wan make the Ololo-like SMNites (his-spy, waan5, Michael et al) make dem notice Goldlink, na why i dey gossip about am for other threads. now katakata don burst....ok i beg make i pick my tashere units before una begin push am ooooo (i no dey do shakara).

[wanaj0]

A lot of margin money is trapped in that stock. I also know that they have some boardroom wahala as touching shareholding and allocation. Cant say more than that for now.

[pegheneji]

Originally Posted by wanaj0

A lot of margin money is trapped in that stock. I also know that they have some boardroom wahala as touching shareholding and allocation. Cant say more than that for now.

tanx for the info

[pumping]

Originally Posted by horlads

chei! wahala dey oooo! pumping, see wetin we don cause.i been no wan make the Ololo-like SMNites (his-spy, waan5, Michael et al) make dem notice Goldlink, na why i dey gossip about am for other threads. now katakata don burst....ok i beg make i pick my tashere units before una begin push am ooooo (i no dey do shakara).

Don't worry, this stock is not going to get scarce immediately. There are still many investors selling without knowing that the share has been reconstructed and they have lost another 50% by selling now.

[pumping]

Originally Posted by wanaj0

A lot of margin money is trapped in that stock. I also know that they have some boardroom wahala as touching shareholding and allocation. Cant say more than that for now.

I'm not surprised if they have margin money trapped. That will explain their romance with the 50k zone...thanks for the heads up...

[BigJay01]

Originally Posted by pumping

I'm not surprised if they have margin money trapped. That will explain their romance with the 50k zone...thanks for the heads up...

But then again, how many stocks on the exchange can be fully divorced from margin loan?

[pumping]

Originally Posted by BigJay01

But then again, how stocks on the exchange can be fully divorced from margin loan?

Well, some are more affected than others. The insurance sector was particularly hit where investors cornered most of the PO stocks to themselves and used margin loans to pay. Practically all the insurance stocks that had PO is saddled with this problem. If there is ever an AMC, insurance stocks will get a real mega boost.

That said, the reconstruction of Goldlink shares make it attractive for my speculative appetite.

[Michael]

Originally Posted by horlads

chei! wahala dey oooo! pumping, see wetin we don cause.i been no wan make the Ololo-like SMNites (his-spy, waan5, Michael et al) make dem notice Goldlink, na why i dey gossip about am for other threads. now katakata don burst....ok i beg make i pick my tashere units before una begin push am ooooo (i no dey do shakara).

Thanks for hiding the stock, but let me finish with Unic IEI and Aiico first, this one falls under second tier.

[utuocha]

Originally Posted by wanaj0

A lot of margin money is trapped in that stock. I also know that they have some boardroom wahala as touching shareholding and allocation. Cant say more than that for now.

You are right. This company is yet to sort out its boardroom squabbles. I fear further dimution and erosion of value

[pumping]

Originally Posted by utuocha

You are right. This company is yet to sort out its boardroom squabbles. I fear further dimution and erosion of value

There won't be much more erosion of value as far as the stock price on the floor goes. Anyway, I know that value and penny stocks don't go together. Technicals kick in first. Afterall, Big Treat just rallied over 60% despite the results

[nosa2]

Guys i'm about to enter this stock, the result looks very good relative to the price but whats all this gist about board room squabbles? Pumping and other insurance sector gurus, i beg whats the bad news about this stock?

[pumping]

Originally Posted by nosa2

Guys i'm about to enter this stock, the result looks very good relative to the price but whats all this gist about board room squabbles? Pumping and other insurance sector gurus, i beg whats the bad news about this stock?

All insurance stocks have one bad news or the other. when I was packing Lawunion at 50k, it did not look wise but today it closed at 63k. IEI will be available at 55k tomorrow. Why should I ignore the stock? I know there is potential dilution if the Japanese yen debt they owe is converted, and I have figured this can be as bad as 40%. All the same, this does not equate the value of the stock to 5k.

We will keep avoiding them because of one bad news or the other but eventually water will find it's level. I already bought Goldinsure and I am waiting for more at the right price. I have discouted the stock at 50% and it still looks okay to me. There is always some element of risk of course.

Like I have always said, one major problem with the insurance sector is the volume of shares trapped in margin loans. Due to the low nominal value, we are talking of really high volumes which have a potential to depress the price.