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I'm going to suggest you take a look at Griffin mining - GFM on AIM. More of a zinc miner but a lot of gold too. It's run up since releasing 6 month financials where they reported very good results. Market cap today roughly 190mm compared to 163 mm equity, has 205 mm PPE. Made 16 mm last 6 months. Has huge reserves, very low cost being China, large plant capacity, awaiting a license to increase production. Company and insiders buying back shares. I may prepare a more detailed post later.

Automodular?

Company says they value ICTC at $5.367 million ($32 per share) representing cost of $3.7 and plus its share of ICTC earnings. This matches the elimination number on p 14 of balance sheet.

I think they marked ICTG at $30 for that $1650 NAV - so the $50 bid currently imples an $1850 NAV = a 20% discount - but yeah it has been value trap in past...arguably not enough of a discount.

CIBY CIBL owns 166,556 shares (43%) of ITCG and controls the vote with 55% ITCG received unspecified bid yesterday http://www.ictcgroup.net/wp-content/uploads/ICTC-PR-re-acquisition-proposal-10-10-17.pdf ICTG is 50 bid x 155 ask now, up from CIBL's cost of $23 caveat - a whopping total of 12 shares traded so far today!

Larkspur California, 10 miles north of GG Bridge.

Testimony on p7 Doc#235 and listed on p420 Doc#246.

Docket is here https://cases.primeclerk.com/CIBER/Home-DocketInfo Rough waterfall analysis: From 8k: sale closed 6/8 net proceeds = 90.7 break fee to CG America = 2 dip/wells payoff = 35.7 IBM secured = 1.9 subtotal = 51.1 This should match cash listed on June MOR when it comes out. Post petition liabilities (full of unknowns) excluded AP = 12.0 (listed on p169, Doc#354) prof fees carve out = 5.1 (incurred by debtor's professionals only up to sale date) estimated further prof fees at 2/month times 6 months = 12 estimated additional GUCs (general unsecured claims) = 5 total estimated post petition liabilities = 34.1 subtotal = 17.0 = $0.207 Further unknowns: other assets to sell contingent payments related to previous sales to receive 6/16/17 escrow release 2.5 for Nederland sale 12/16/17 escrow release 2.5 for Nederland sale 8/26/17 potential purchase price adjustment 1.75 Norge sale 8/26/17 escrow release .35 for Norge sale 2/26/18 escrow release .35 for Norge sale did biz burn cash between 5/20 and 6/8? Budget shows 1.6 burn/wk - could mean additional 4-5 burn. However DIP payout of only 35.7 suggest biz did a lot better than budgeted. litigation - they sued State of WA for $13 mm in Doc#98, also have litigation against State of HA - I would hope this will be a plus, but they also risk losing a counter suit additional allowed claims such as lease rejection claims and the like delays in winding up - these things always seem to take longer than expected to payoff risking more to fee erosion

I'd rather not - against the VIC rules as I understand them.

CBRIQ was writen up on VIC on 6/5. It now trades $0.13 with 82.1 million shares out so market cap is $10.7 million. Docket is here https://cases.primeclerk.com/CIBER/Home-DocketInfo April MOR (#300) shows $89.5 mm liabilities. Sales approval order (#235) says winning bid by HTC would result in $91 million cash to estate and assumption of $30 mm liabilities. Also look at budget on page 193 docket#14. Back of envelope - 91-59=32/82 = $0.39 suggests a 3 bagger.

Sorry about triple post... I was under impression that once a PFIC always a PFIC so website seems wrong when they say "not PFIC" for 2016.

http://www.franco-nevada.com/investors/tax-info/default.aspx

http://www.franco-nevada.com/investors/tax-info/default.aspx

NICK trading $8.30 book value $14 bought back over 1/3 of the float at $14.85 2 years ago! What a colossal mistake. Announced bad earnings today.

NICK trading $8.30 book value $14 bought back over 1/3 of the float at $14.85 2 years ago! What a colossal mistake. Announced bad earnings today.

Surprised these knuckleheads don't own preferred like I assume rest of us do. much better risk/reward than common imo.

Sold my last shares of ITIC at 2.3x book after owning shares for at least 10 years. This stock traded for 2/3 book in 2011. Consistent 7-12% ROE every year. It was a pleasure owning but getting ridiculous at current prices.

You might want to include VSTO - just written up last week on VIC. I have no opinion on any of these.

A bit off topic, but have you looked at BEAN? Think pampered chef for kid's clothes. I owned the shell company Noront (NOR) which did a reverse merger with BEAN. Sold some but not all of the BEAN I got because I am intrigued with the business model. I think it is pretty damned expensive and not bombed out at all however. It is early days with their growth strategy so time will tell.

Disagree - thought it was good summary of macro stuff and explanation of his edge. His returns maybe another matter - but he writes well imo.

No - but will take a look.

I remember Alex telling me about buying a cheap suit to appear in court - not his usual outfit. RIP, Alex PS: I just remembered him in an EQIX related article I wrote. His research on that stock was also outstanding. Just read your Seeking Alpha article. Nice. EQIX was before my time, but didn't you guys buy that when it was in bankruptcy when it was trading for pennies per share? Congrats for hanging on to it!

NYRT Plan of liquidation approved - stock sells off. Do the indexes have to sell because it's in liquidation?

I agree on CNRD and purchased more yesterday. I also was bought more MFCB - though I am still underwater on both names. I don't know if those are my "best" ideas of 2017 though...I do plan on holding both for the long run.

I know a couple of people on this board owned All American Semiconductor. It was SEMI then SEMIQ after it went bankrupt. It had about $50 million in claims and no assets other than litigation claims. It stopped trading in 2007 - last price was $0.015. They paid a distribution of $5.68 in May of this year and they still have at least a buck a share left and are pursuing more litigation. http://www.dailybusinessreview.com/id=1202766649201/Panasonic-Among-Defendants-in-Antitrust-Suit-Over-Capacitors?mcode=1202617073880&curindex=0&curpage=2 "Meanwhile, AASI Beneficiaries opted out of the class action to pursue its own complaint. The strategy has helped Welt recover more than $100 million in antitrust suits for American Semiconductor's liquidating trust, fully repay principal and interest owed to creditors, and distribute about $25 million to shareholders." So that is the most leveraged bet that I have had pay off - though it took over 10 years and it is not technically a share price movement. The best part of the story though: I had a great friend and colleague named Alex Shaw who died way too young this year in February. SEMIQ was a large holding of his and he was passionate about the case - even going so far as flying to Miami to file a motion in the bankruptcy case to reject the initial Plan of Reorg for trying to extinguishing equity. Within a couple of months of his death, the trust made the distribution. Coincidence? I'd like to think not! RIP Alex.