Biggest loser this week was possibly the biggest catastrophe since I started out, given that buying it in the first place was a moment of utter madness. AVM:Avocet Mining dropped another 12% and is 34% down in 2 weeks, losing £367 that should be in my holiday fund! There's still a few months for the gold price to stay high and this to recover. However, news appeared today that they are consolidating the shares, so my 9,902 shares will become 990 at 68p (ish), assuming no change in sp until the consolidation date in June. This has been done so they can raise more capital from a share issue, thus diluting and no doubt reducing my chances of getting back into profit.
TON:Titon Holdings gave a rather downbeat trading statement this week that Q1 profits were slightly down on the same time last year - still healthy profits though. The share price was hammered by 12% which means my profit is more than halved to £142. Quite glad I sold half of them a few weeks ago!
The other double-digit loser this week was ALM:Allied Minds which dropped by 11% and is now 19% down on when I bought it. So much for Neil Woodford being an investment genius - my SIPP may have a few things to say about that, as it's losing £346 on these.
For every down there's an up, and the first good news story this week is CRL:Creightons which has been losing loads due to the massive spread ever since I bought them. Today they climbed 13% and into profit - albeit just £1.62p.
After the dramatic plunge last week leading me to expect bankruptcy, this week AFPO:African Potash announced that the licence for their potash mine has been renewed - huzzah! Unfortunately they don't have any money to get it producing, but the shares did go up by 13% and are now only down by 67% and losing £497.
Share of the week award this week goes to one of my old favourites JLP:Jubilee Platinum. Every time it looks like things might be about to turn around, something bites us on the bum and they drop again. This time it appears chromium production is going to be much higher than expected, and the platinum content of the resulting tailings is very high, so they may sell the tailings to another platinum company while waiting to build our own processing plant. This would be great news, as at least we would be benefiting from the high platinum price, rather than just being a chrome producer. The market liked the news, sending the shares up 14%. It's not quite enough for my three holdings to get into profit, but another similar increase of about 20% will get me up to about £560 profit. If they ever get to 10p a share, I'll be £4,500 in profit. This isn't unrealistic if they get production going at their other site and a long awaited mining licence turns up at their third site.
Here's the portfolio performance this week
| Weekly Change | |||
| Portfolio cost | £36,800.82 | +£448.56 | |
| Portfolio value (share price) | £34,076.09 | (-6.9%) | -£1,055.22 |
| Portfolio sell value (bid price - commission) | £32,995.15 | (-10.3%) | -£964.38 |
| Potential profits | £1,450.76 | -£806.44 | |
| Dividends | £473.34 | +£0 | |
| Profit from sales | £3,185.46 | +£400.23 | |
| Average monthly cash profit | £391.10 | +£34.03 | |
| (Sold stocks profit + Dividends - Fees / Months) | |||
| Avg annual % of current portfolio cost | 12.8% |
So I got £400 profit from selling CMCL:Caledonia Mining, EMH:European Metals and FXI:Fusionex in order to buy OPTI:Optibiotix which has promptly dropped in value and is losing £148. That was a well-timed purchase!
The portfolio cost has gone up by £448 as there were some dividends lying around in my ISA that I added to the capital when buying Optibiotix.
The potential profits have dropped by over £800, so there's £400 loss on top of the shares I sold. Much of this was due to the drop in TON:Titon Holdings but I also had shares like SPD:Sports Direct slip back into loss this week.
Add to that the losses on shares that were already on a loss, and the total dismal picture this week is a drop in portfolio value of £964. On the flip side, the cash profits went up by £34 a month to keep me well above the 10% target with only 12 weeks to the end of my first year investing. Can I keep it in double figures for the annual snapshot?
The SIPP looks like this
| Weekly Change | |||
| Portfolio cost | £11,477.13 | +£158.85 | |
| Portfolio value (share price) | £12,885.57 | (+12.3%) | +£17.25 |
| Portfolio sell value (bid price - commission) | £12,652.30 | (+10.2%) | +£21.14 |
| Potential profits | £1,734.97 | +£111.47 | |
| Dividends | £21.14 | +£0 | |
| Profit from sales | £699.89 | +£0 | |
| Average monthly cash profit | £127.36 | -£6.45 | |
| (Sold stocks profit + Dividends - Fees / Months) | |||
| Avg annual % of current portfolio cost | 13.3% |
Much healthier than the other place. My monthly regular purchase of JLG:John Laing Group went through and added another 73 shares, bringing my total to 141 at an average price of 221.5p. These are down by 3% but only making £25 loss due to the tiny £3 commission. I'm finding I don't mind at all if the price drops, as it means I get more for my money. It's a nice way to buy shares - I'm seriously thinking about switching all my pension contributions to this method, as my final salary scheme is about to close down at work. It really depends on what they plan to do with employer contribution in the new scheme.
Potential profits are up thanks to JLP:Jubilee Platinum going from loss to £51 profit and CWR:Ceres Power Holdings climbing even further and now standing at £882 profit (67%). This mitigated the drop of AA:Alcoa back down to loss, and the continuing demise of ALM:Allied Minds, my only serious pension fund under-performer. Those losses mean it's a pretty much break-even week, with just a £21 rise in sell value.
Next week we will see if JLP:Jubilee Platinum continues to rise, if AVM:Avocet Mining continues to fall, if CAML:Central Asia Metals rallies leading up to ex-dividend day on Thursday, and if OPTI:Optibiotix reward my £4,000 investment with at least the 4p rise I need to get into profit. After that each penny rise earns me £47 - yippee!
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