Personal and undiluted views
Abramovich

3372 days ago

Zoltav Resources – The Joke valuation starts to crumble: a classic short -

I have repeatedly warned that for all the Abramovich hype, AIM listed investment company Zoltav Resources (ZOL) enjoyed a joke valuation. It seems as if folks are starting to pick up on this and the shares have now slipped to 3p. But they are still 90% overvalued and are a slam dunk short down to a 0.25p target. Thos who think that this is a Russian red hot penny share are just mad. Here is why…

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3397 days ago

Zoltav Resources – Joke valuation, joke company – stonking short

I have noted before that the valuation of AIM listed investment company Zoltav Resources (LSE: ZOL) is a total joke. Results today suggest that other folks are starting to twig. I am aware that Roman Abramovich’s son is the largest shareholder so that might float your boat but this good ship is going down. The shares now trade at 3.275p, valuing Zoltav at £12.5 million. My target price was 0.5p but I am slashing that and here is why.

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3513 days ago

Zoltav Resources – Overvalued hype?

AIM listed Zoltav Resources (ZOL) is a company hyped on the back of supposed involvement by Roman Abramovich’s son. At 2.58p it is capitalised at £9.7 million. In early 2011 it raised £2.25 million. It has – as far as we can tell – made six investments in large liquid Russian oil companies and sold three of them. Its PLC costs (not least some very expensive advisers) make me suspect that net current assets are now way below £2.5 million. Even at June 30th 2011 net assets were down to c$2.5 million ( shall we call it £1.6 million). My money is on net assets/cash being well below £1 million by now – hence the recent sale of shares in 3 of the 6 companies it has backed.

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