Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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After speaking with Ivan I am indeed content that the BoD are legitimate, honest and doing their best for shareholders. My average Sp is 0.04, which is below the shell value of an AIM company, which has cash, holdings in other firms and, however remote you may think potential to generate more business
Miller is right - I also had a brief conversation with Ivan last night .
1 resolution: TO VALIDATE THE CONTRACTS OF SERVICE AND SHARE OPTIONS AWARDED TO THE DIRECTORS IVAN MELVIN COUCHMAN AND BARRY RICHARD HEATH ON THE 19TH FEBRUARY 2015
I'd be disappointed if IC didn't come out fighting considered the majority of the drop was not due to RNS. The price was recovering at 0.065 when the article was released. I'm not selling at these levels, I'd barely get more than my trading fee back so I'll hang around and wait for a reprieve. Even 200 more quid could buy me 500,000 shares right now and with a much healthier average, then just pray something good happens thereafter. Best of luck with wherever you are now instead.
Definitely, we need a bit of luck, good job one of my other 4 is back in the game again. If you're interested check out my recent postings, otherwise just keep firm where you are. JB and AC will deliver, I've every confidence, they're very transparent and invested themselves heavily in there, they'll want it to work as much as anyone else.
Thanks for the explanation sms1982.lets see what next week brings for both companies
Morning Prophet, it can be possible and I'll explain it as best as I can. After the price drops (sharply especially), the shares are cheaper to buy and more of them can be brought. On an oil discovery it's often more sold than brought but it's because the shares were brought cheaply and sold for a lot more, so those re-buying at the top can afford to buy less at the higher price, so hence there's more sells than buys. A lot of people here can pick up shares an awful lot cheaper than they did at 0.1p, so hence why more were brought than sold. Remember people brought less at the top than pro-rata were able to buy at a significantly less price of 0.06p or lower. In the case of MSMN i was in at the time before and on the first oil discovery @ CR 1, the volume of shares brought and sold was about the same, yet the price has increased about 220%. I hope this makes sense. MSMN in a good company but things are slow with the oil price but have a lot of prospects with MEO, the new NZ licence, Officer Basin and Petroleum Creek. Keep the faith there mate it will come good.
Morning all . Funny MSMN gets a mention. I'm 80% down there as well. Could someone explain why there is 50% more buys than sells. I may be looking at it simply but I would have thought more buys is mote demand?
Morning PF - Thanks for your post. Sadly it's not the first time share muppets have wrote articles often with deramping tendencies or to simply crash the SP. I remember they did thsi with MSMN last year, SER too. They're a law into themselves. I do feel the reaction yesterday was ridiculous, both to the broker resigning and then losing 50% of its worth yesterday and about 75% in the last week or so. People are very tetchy when they even sniff a "bad name" in the market, I mean look at AIM's reaction when Darwin come on board a share? I think either Ivan has being naive with who's behind this or he simply didn't know or deemed that it didn't matter. I certainly don't think this will be the end of the matter tbh, TW has caused a lot of damage to INC and destroyed the profits o those who sold and who haven't. I believe Millertime's claim that he was in shock over yesterday's events and is considering what to do do next. I expect him to come out fighting if there was any misinformation in yesterdays article, he now has a whole Easter Weekend to decide what (if anything) to do, I expect a RNS of clarification next week, QPP were straight on it after that article wrote about them last year, I expect the same here. In the meantime there's an opportunity to buy some ridiculously cheap shares after Easter, I think we may be stuck at these level for a but yet until any challenge is put in place so maybe a little time to load up, let's see.
Millertime, you are correct my interest is academic. More importantly are you still "content" with this POS? Have you sold? If not what kind of miracle are you hoping for? Purely academic of course.
To say Terry Ramsden is involved ? Terry Ramsden was once a billionaire and took high risks to get there. If he is simply a shareholder in the Canadian Op so what ? Anybody & everybody can buy shares in whichever company they choose. I am not naively disputing previous issues around Dematco & Ramsden. I am simply saying these historical issues may not be related to Insetco at all today under Ivan Couchman. Storytelling does not equate to reality most of the time and I have a feeling the reality may be a few more truthful steps removed from the fearful tale of lies & corruption (& substantially less impacting). Anyway, I might be right, I might be wrong but in the end I did not sell.
Likewise, any worries I had of facing a high CGT bill this FY have now evaporated with the various losses I have to offset the gains!! Sorry Mr Taxman you're not getting anything from me this year.. LOL. I need to park this one now, but I do wonder whether previous realisation of this news on Ramsden was behind (A) TW's rather unexpected Sell advice on INC that he published on HotStockRockets back in Feb (everyone thought it very odd at the time)., and.. (B) Cairn resignation .. ?? For me it's all academic now as I've already bailed. Big disappointment and bit gutted today as I had high hopes for this one originally. Well we've not actually given IC an opportunity to defend his position yet, be interesting to hear his take n the situation.
Good find of earlier association with Ramsden. Anyway, pretty well case closed for me except more losses to report to the taxman at the end of this tax year. If I ever reap a profit I will have thousands to offset against it for CGT purposes over and above my allowance. My thoughts at the end were perhaps TW has his finger on the pulse here and his business is 'fraudsters', the Sheriff of Aim, etc. so thought I'd go by his thoughts this time and bail. Anyone still here GL.
TW's commented on this fiasco just now (on share prophets) when asked why he hadn't checked INC out properly before recommending the stock as a "tip of the year" - TW: "We were led to believe that he (Ramsden) was out, had no shares, no involvement. He appeared to have no involvement in Inc – it is the Canadian ops where he is linked. I suspect there may be well hidden links back to Inc but they were not obvious to us at the time. Nor are they obvious now"
It appears Ramsden has past history of association with INC (2010 article - Insetco Is Not for Me Says Lucian Miers). http://www.iii.co.uk/investment/detail?code=cotn:INC.L&display=discussion&id=7367042&action=detail >> In May we were told that $2 million of revenue was on the way “within the next three months”, .. Sadly by August it had: “…become clear that structuring and implementing these and other policies will take considerably longer than originally anticipated. Consequently, revenues from fees for these services for the current year will be significantly lower than previously indicated”. Part of the reason for this delay may be that Dematco, upon whose know how and software Insetco relies to package its policies, seems to have disappeared without trace. It is no longer quoted on nasdaq and its majority owner, convicted fraudster Terry Ramsden, is rumoured to be hiding out in Canada from the people who put money into Dematco (a slightly unconventional mob, I am informed). <<
What a mess and what a day - exhausting and costly. Possibly TW is to be believed this time but apparently taken Ivan by surprise all this talk of fraud over the pond. Nasty business and things may go lower or worse here next week. On the other hand TW may have made another balls up and we should have stayed.
Going on here but glad i've held of coming back in.
Just had a text conversation with Ivan. He is abroad on business so news on the bearcast came as a complete shock. He is going to review it and decide how best to respond.
I think there's adly still more to fall yet; traders have been trying to "catch the bottom", you see it with dusters all the time, then the day after when traders sell up and move on there's no support level. This effectively was a "duster" today after TW's article appears to have uncovered the people behind this deal. Uf there was any misinformation then I'm sure Ivan will be on to his legal team for damages as the price crashed from 0.06 to 0.035 because of this article. If nothing is done about it then it's all true. Shares in INC will be very cheap to buy now and given the broker situation and the bad sentiment I doubt we'll get any increases for a bit now, so who's gonna punt at these prices then? It's all up in the air now!
Well he IS often wrong that's true and perhaps he is now but I've always had a funny feeling about this 'business' - seems like a strange business. TW has simply picked up on this Ramsden fraudster involvement. I think the 2nd RNS today didn't do any favours confirming a ridiculously long delay. How long does Due diligence take these days. Was just imagining if I was doing due dili. on Santa Claus say. I'd write to him and if nothing came back or no presnt through the chimney in about 4 weeks I'd give up on him. This has taken over 4 months. Anyway, I've bailed. GL next week, you'll maybe need it.
Its a bit late telling us all about a convicted fraudster after his tip to buy. No due diligence there was there ? If you took his advice you would be buying and selling the same stock every 10 minutes. If Insetco get another NOMAD and if they then get a different client or the money comes through he will simply say sorry I was wrong I didn't expect that and nobody could have expected it either. Well, expecting the unexpected is all part of the game. You would think after 30 years he would have realised that.
That sounds very smug. There were a lot of surprises here, the biggest being Tom W. declaring the Canadian people are linked to a known fraudster and he thinks the whole $300k contracts are a complete con and will never materialise. If today had just been about the Nomad Cairn I could agree with you but it seems a lot more than that.
At least gives me some comfort. He is usually so incredibly wrong, any holders are surely now onto a winner. ATB.
Tom Winnifrith Bearcast - Insetco bargepole special: http://www.shareprophets.com/views/11425/tom-winnifrith-bearcast-insetco-bargepole-special
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