Tinwins Is this really a core hold. I used to think it was and...

Tinwins Is this really a core hold.

I used to think it was and still hold my shares but its really not performed. 5 Years ago is was $13.50 today its $13.82 - Its earnings over the past 5 years has been roughly 76c or lower last year being the worst.

Its NHC investment and decision not to sell was wrong. The cash pile and going into Oil has been wrong and the Coal to liquids and Coal to gas - IMO - Instead of going with conventional tech they funded the new tech and really it isnt ready and they withdrew. We can do small pilot coal to liquids but really a waste. So with $1,31 per share in cash thats the value - New Ackland extension struggling to get approval.

Its BKW has been doing a lot better.

If it wasn't for TPG were would the share price and EPS be?

I didnt support the PPT attack on the board but now I am beginning to see that all that they touch is not turning into gold and a lot of it isnt even turning into liquid gold ( Black).

Sort of getting nervous as I think they could have continued the forward pathway but were too inflexible to accept a lower offer around say $4.00 for NHC and now?

What also disturbs me is that instead of wearing the mistakes they remind me of our prime minister and just drop that part of the presentation. I think they are far better than their performance is showing.

NHC - operationally they run an exceptionally tight and well run operation but didnt see the play - Others did in Coal and when you only get lower offers you should seriously review your valuations. Later is always less IMO.

So it stays in my portfolio but I am getting uncomfortable - Any differing views and motivation would be appreciated.