OK, so after musing over the weekend I’ve swapped my Centamin Holdings for more 888.

Centamin just trundles on. I don’t think it’s ever going to make vast profits – a lot of it is given away as parts of its Joint Ventures with (say) the Egyptian Government. Reviewing figures it seems to be moderate feast and moderate famine, a lot depending on the Gold price.

Nothing fundamentally wrong with the Business but I’m happy to trade the cycles, so if it drops to double digits I’ll revisit it. I’m happy to sell at a 10% profit over 2 months.

Sell price: £1.0981

Buy price: 99.25p

Dividend income: 0

Gain: 10% total (0% + 10%) 60% pa (linear, not compounded)

As promised, I’ve topped up my 888 Holdings at 82.3p to a shade under 8% of the whole portfolio. That will do for now.

888 Holdings (888 – Buy)

May 12, 2023

Charlie Croker

Portfolio No Comments

Had a few dividends come through so have topped up these today. Whilst they have huge debt in relation to their Capital, the interest payments are well within their cashflow and Gambling, whatever your opinion, is a solid form of income. Following the takeover of William Hill that cashflow should start kicking in as well.

I’d like to go overweight in these but would need to sell something to do so. Mulling this option over currently. In the meantime they now represent about 5% of my Portfolio. I’d like to get that to 10%.

No chart update just yet.

Buy price: £0.83 ish
Portfolio %: 6%
Portfolio total: 8%

CEY (Centamin – Sell) / 888 (888 Holdings – Buy)

888 Holdings (888 – Buy)

Navigation