Cunning Plan Put Into Practice

I hatched a cunning plan last night and put it into practice first thing this morning.

I wanted more IQE:IQE because everything about this company sings to me of potential. When I wrote up my annual portfolio review, under SLP:Sylvania Platinum I asked the question "how on earth did I end up with that many?". They may very well go somewhere, but I figured they could go somewhere in my share account and trading account, but they'd already gone somewhere in my ISA.

I sold my 10,065 SLP:Sylvania Platinum ISA shares for £120 (15.9%) profit and liberated £846. There were some dividends lying around in the account, so I pooled them and bought 2,938 IQE:IQE shares at 31.3149p costing £928.98. That takes my total holding to 6,550 shares at a weighted average of 29.59029p costing £1,956.06 and making up 3.4% of my total portfolio. They are 3% up with £62 profit after falling a tiny bit today.

I also mentioned yesterday that I wanted to get back into gold mines, and specifically into CMCL:Caledonia Mining, so I did. SGRO:Segro were within £28 of profit, but with past and due dividends would be just about in profit. I sold my shares breaking even and liberated £1,004 and used it to buy 737 shares in CMCL:Caledonia Mining at 135p a share costing £1,003.90. These went up 3% today but with commission and a 4% spread, they start off £28 down.

The combined portfolios sank horribly into the red today, losing £560 to go to a £580 deficit. This was largely due to lukewarm results from AFG:Aquatic Foods Group causing their share price to plunge 28.6% and become my new Nemesis Share. How can just 50,000 sold shares cause a share price to drop that far? It's absolutely crazy. What's even more frustrating is the spread has increased to 33% so they're not even that cheap to buy - although 15p is very much cheaper then the 21.9p I paid.

Although profits were down, they were still profits, there's still an interim dividend, and they have increased the amount of free cash held. The P/E ratio of this company is an insane 0.87. At an average P/E ratio of 15 these would be worth 395p. There are many detractors claiming that the business is a fraud, but the recent appointment of a well respected Finance Director makes me believe they are legitimate. I'm more inclined to believe that the reason the share price is so low is that everyone is convinced it's a fraud thanks to the history of so many Chinese shares being exactly that.

Not many good news stories today. CRL:Creightons climbed 5.4% and are now up by £151 (37%). These just keep quietly doing the business and I wish I had bought much more at 7.95p. TLOU:Tlou Energy made a play for Star Share with a 3.5% climb taking them to a potential £1,113 (106%) profit, which is only £29 behind incumbent Star Share CWR:Ceres Power. Could Ceres lose the crown tomorrow?