Small Cap Value Report (Wed 3 Apr 2019) - placeholder

Good evening/morning, it's Paul here, with the usual placeholder.

Before we start, I'd just like to thank a smashing group of Twitter investor friends, who held a barbeque at Bertie's place recently. I was told yesterday that they held a whip-around, and raised £130 for ZANE - the small but remarkable charity which I recently visited in Zimbabwe, on a fact-finding mission. What a lovely initiative, thank you!

Once I get my act together, I'll share some more of the amazing experiences in Zimbabwe a few weeks ago, as a guest of ZANE. It certainly was not a holiday. It was a privilege to witness what this amazing little charity does to deliver humanitarian aid to mainly destitute pensioners in Zimbabwe - many of whom served the Crown, the "forgotten legion" of Commonwealth soldiers of all backgrounds, & their widows, which Tom Benyon has campaigned for. I'm sure my visit only scratched the surface of things there, but it really was inspiring. These people really do deserve our support. I had no connection with Zimbabwe beforehand, but definitely feel a connection now that I have visited.

There is also the complicated & confused history to consider. As more than one person told me, "If you think you understand Zimbabwe, then you need to do more research!"

NB. I paid for my own flights, whilst everyone from the charity flew economy (ZANE's policy, but definitely not my policy for long haul flights!) from Jo'burg to London. "You bastard!" was jokingly mouthed to me, with broad smiles on both sides, by one of my great pals from ZANE, as I joined the business class boarding queue on the way home, for the 11 hour flight back to London.

Having seen some of its operations on the ground, and the lives being saved literally every day, for small amounts of money (e.g. $25 per month per person for essential medicines, or even small grants for food), I cannot emphasise enough how a little money will go a long way, if you can spare anything for ZANE, please do so with this link.

The best thing, is if you can commit to a regular amount. A monthly donation is amazingly valuable, as it allows ZANE to commit to helping someone, often for the rest of their life (it specialises in helping destitute pensioners). Everyone is means-tested.

I was allowed to sit in on a means-testing applicant in Bulawayo, called Patrick - a tiny, thin (if it matters, black) man, in his 70s. He tried to give me his war medals, in a quiet unassuming way, when the interviewer briefly went out of the room to photocopy something. He was desperate for help, to stay alive, but had dignity and politeness. He spoke quite good English. I explained that I was visiting from the UK, to observe ZANE's activities, and try to help raise more money when I get back to the UK - as ZANE donors are getting older, and a new generation of donors is needed, to sustain its humanitarian aid).

As he left, Patrick and I shook hands, and I wished him well. A lot of men like him have untreated prostate cancer, so I was told that he might not be around next time I visit. He said that he had hours of bus rides home, then had to walk 9 km at the end. It was 35oC heat that day. It was good to see how ZANE handled his case compassionately, and reimbursed him for his travel costs, and promised to get back to him as soon as they could, having assessed his case. He was very grateful for this. I shook his hand again, and wished him well. I couldn't really imagine the life he was going back to - he told me that the drought meant that his cattle were dying, one by one, and that he makes $25 per month from selling chickens. Just about enough to stay alive.

I'll try to focus on small caps in the morning. My mind has just been elsewhere lately.