George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Pleased to see the relisting and resumption of trading in SCGL, albeit with a big spread (14%+).
Reassured by the Chairman's statement of a MOU with Gongqingcheng Yuxin Investment Management Partnership (Limited Partnership) ("GQC") to make the company more efficient, with a future strategy of expansion after some difficult years.
He says they need to invite more investment from creditable alliances, so a forward business plan needs to be implemented to attract substantial funds to secure the future growth and return for shareholders.
The pruning of the losses for year 2021 goes a long way to restore confidence, but turnover needs to be substantially increased, with new avenues explored in a growing marketplace.
This site still needs to amend the shareholdings of the directors to give an accurate picture of the company's finances, the Chairman/CEO has over £1m invested of his own money in the company.
Sealand Capital Galaxy Limited (LSE: SCGL) announces that there will be a delay in the publication of the Company's audited financial statements for the year ended 31 December 2022 ("FY22"). Further details are outlined below:
Delay and suspension:
The Company is currently working with its auditor, PKF Littlejohn LLP, to complete the audit of its annual financial statements for FY22 as soon as possible.
The Company operates primarily in Hong Kong and mainland China, and its preparations have been considerably disrupted by various lockdowns and other pandemic related consequences in those regions.
The Company will accordingly not meet the 30 April 2023 deadline required by the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rules to publish its annual financial statements for FY22. As a result, the Company's shares will be temporarily suspended with immediate effect.
The Company will request a restoration of the listing of its shares on publication of its FY22 audited financial statements.
This follows an upbeat statement from CEO/Chairman that they have renegotiated with their Danish hair products supplier to now distribute to their to their exclusive clients without having to pay up front, in full, for the products, so improving their cash flow. To date, sales have far exceeded expectations and bodes well for the future as the Asian economy recovers from the pandemic.
Let's hope hope this is a small blip before SCGL bounces back and shoots up the index.
A month has gone by and still no update on the Directors Deals & Holdings on here, although there is an acknowledgment of the total increase of shares in issue is now at 715m+ in the Company information section.
With the Company being registered in The Cayman Islands, perhaps there isn't the same requirement for a Confirmation Statement to be issued of the change in the CEO's total holding, as if it were registered at Companies House in the UK. ... The easygoing lifestyle of The Caribbean means there is "No Hurry ... No Cry".
Surely needs to update market on progress, it’s been many months with total silence!
Today is the day the Conversion of Loan shares are added to the register for trading.
CEO/Chairman, Law Chung Lam Nelson's personal director's holding should be updated to 137,168,500 shares when added to his existing portfolio.
With the total shares in issue now 715,815,080 his total holding amounts to 19.163% of the company (plus, he has about £750k of his own money remaining in the loan account, including director's fees he hasn't taken).
Waiting for LSE to update the Director's Dealings segment and the dilution to have an effect on the SP.
It will be interesting to see the effect of the dilution on the share price when the new shares are admitted for trading on 5th January 2023.
It could represent a buying opportunity to join the Executive Chairman in what looks to be a very shrewd bit of business.
They have announced that they will issue new 115,211,604 ordinary shares at £0.0021 to its Executive Chairman, Law Chung Lam Nelson, in partial repayment of his loan, amounting to £241,944 ... this will increase the total shareholding of the company to 715,815,080 ordinary shares when admitted to trading on January 5th 2023.
So he will then own a huge share of the company once these shares are added to his existing holding on the register, plus the remainder of his loan of around £750k, more akin to a private company with his majority holding.
Is this for the better or worse? .... It doesn't add to the working capital.
Maybe he is expecting a huge rise in the capital worth of the company and wants to have a share in it.
Assuming that having 'turned a corner' and 'delivered a profit', the question is what the profitability scale may look like at F/Y being end December 2022?
Subject matter, if required, would be at what price and volume consideration?
Mid-price for months has been in the .35 to .325 region, but temporarily lower now.
With 600 million shares in issue already and with a 1 million Mkt Cap, the F/Y accounts and any incoming news flow may have a dramatic effect on the SP movement, Upwards or Downwards?
The Chairman/CFO would say that, he has nearly £1m invested of his own money ... but I take it is reassuring that he is using his own money.
Disappointed that they had to issue more stock to pay for the expenses, it was only a paltry sum compared to the market value of the company.
What has happened to the JV market "fish maw" collaboration set up nearly 2 years ago? ... After encouraging reports of massive interest and projected sales, there has been silence ever since ... or was it just to ramp up the SP?
I want this company and its ventures to succeed, for my benefit and for other shareholders, but it worries me that there are false dawns and evidence of pump-and-dump transactions that hardly give confidence.
For clarification and the avoidance of doubt, in the unaudited accounts released on 27 September it was the Chairman / CFO who provided upbeat comments such as 'contribute to our continued success' and the demand for online shopping being unstoppable.
Many other comments for educated consideration in there too.
It is always healthy to have a balanced opinion?
Hold for an update or bail out if siding with the de-rampers, simple!
The interim results published on 27th September 2022 for the 6 months to 30th June 2022 hardly reflect the upbeat sentiment expressed by a few rampers on here who quote positive liquidity and profitable prospects for the near future.
Quote:
Going Concern:
As at 30 June 2022, the Group has cash and cash equivalent balances of £13,031 and net current liabilities and net liabilities of £1,258,755.
The directors' cash-flow projections for the forthcoming 12 months conclude there will be a need for additional cash resources. The directors are in discussions with some parties that may raise further equity and/or loans. There is no certainty that any such funds will be forthcoming or the price and other terms will be acceptable.
Financial Review:
During the six months ended 30 June 2022, the loss attributable to ordinary shareholders was £226,910 (2021: £98,643), and the revenue for the period was £76,071 (2021: £39,184). The loss has widened because of an accrual of director's fees of £99,000 (the considerable majority of which have not been paid) and an issue of shares valued at £27,000 to settle some professional fees.
My view:
If the directors decided to take their fees, then the loss would be even greater and we know the Chairman has invested his own money to keep the company afloat (now quoted as £830,959). Without that, it would have gone bust.
They say prospects are good for increasing sales as e-commerce continues to grow, the home confinement from continuing Covid restrictions adds to this, but the adverse effect on the economy will eventually filter through and make luxury purchases decline in volume ... look at how it has affected the Western economies.
I have a substantial holding (pre Covid) that has dwindled from previous expectations, with the further prospect of dilution ... so the future is not as rosy as some paint.
They still need to buy stuff.
Round our way they were rioting chucking fireworks at police.
There would be good business opening a firework shop. :)
The current political situation in China is causing concern for investors, with students and activists rioting in the streets and human rights being questioned (even by our PM at the Lord Mayor's banquet at The Guildhall).
This must be having a serious knock-on effect on any Chinese-related investments, with those also speculating on a recovery to SP's once the tensions subside.
It is a dangerous game to play if the investment does not have the funds in place to survive.
Good luck to those taking the gamble.
expecting short term 10 bagger
ONLY 1.3m market cap
Contacts with Tiktok, Harvey Nichols, alibaba
Fully funded by the board
Must make announcement here, as market has trashed this stock. CEO should’ve updated market first thing today after Fri debacle!
£70k plus buys on Friday alone.
Just returned from a business trip overseas and from what little we saw, Sealand products are selling like hot cakes and are in high demand. Sales in HN are absolutely booming.
As long as the supply chain continues to deliver and transportation holds up, the next news update could add further to the positive cashflow position. Hold tight for incoming updates.
Contracts with Tiktok, Harvey Nichols and Tencent
I think this does very well from here
Reading the contracts and companies you would think it was minimum £25m market cap.
It’s actually less than £1.5m
Had a punt at 0.23. Made a lot of money on these before when the herd turned up and they soared. So one to buy and just see. Punting money only.
Maybe it was a distressed seller, certainly was a big buyer earlier. Looks like seller is going out now.
Deeper you dive it could be one of those shares that absolutely rockets of the scale
It has a multi millionaire owner that funds the company from his own pocket.
It has links with tencent, a business with Harvey Nichols
Zero debt.
Never heard of it before today but this could be an hidden gem.
You’re buying 33% cheaper than this morning because some muppets tried a pump and dump and failed miserably
I think it’s a great opportunity for a short term trade.
Just to get back to yesterdays price is 33% rise, to get back to this mornings price is 50% rise
Have any of the buyers read the last results they are grim, playing with fire and the market makers, how high does the ponzi go for before nobody else will play and pay higher ?
Thought it went 30% up, buys around 0.38p…!
Ouch! A real spike here! Lots of buys at 0.35 and 0.37 and now 0.22 bid.
15% up to 33% down.
This could easily finish flat which is a 33% rise from here
This is the only reason it’s dropped 33%, could be a very easy bounce
Muppets