Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
There is no hiding behind court cases anymore, the quarterly results are due any day then the board have to get the finger out and show their worth. The creditors and shareholders have waited long enough. Let's for once see a concrete plan of action.
@truthfactory that is your opinion and everyone is entitled to theirs...
Wonga rates? 1509% Amigo offer rates at 49% youre comparing apples and pears
regarding litigation on this type of lending is endemic? Amigo is offering loans at a similar rate to most peoples overdraft charges... its not the lending product that was the issue it was the process that wasnt followed... we would expect Amigo to get that right going forward... but you never know and a process not being followed can happen in any business...
Didnt JPM use derivatives to buy stocks? I think I remember mentioning the AM buying these but it was the IB who actually bought in.
I think 15% is too high. I don't think they own anymore than 3%.
@truthfactory come on if you are going to throw out comparisons of Morses... share what the comparisons are? are they doing a RI and cant raise the fund? are they doing an SOA? is their business profitable or not if not why is that the same margins as Amigo etc... come on you have just thrown out a sub prime lender that has said they arent releasing their full year results in may and will now do so no later than 26th August hence they have dropped in SP by 30% today...
At least be factual if you are negative and the same for positive ramps :)
‘The sector is shot’ WHAT? in our current climate of cost of living crisis which is only going to get worse especially by autumn as eg energy tariffs once again set to rise hugely again, petrol/diesel going up by the day 1.70/1.80 about to hit 2.00 soon, cost of food and goods effected by supply chain issues and rising costs - ok Truth I’m thinking your post really that’s not the reality now is it.
This sector grew after the last recession and cost of living crisis and is a market that needs to be served. If not us then who as Johnny High Street Bankers ain’t gonna do it now are they.
We re enter the lending market at EXACTLY the right time that we are needed. Supply and demand are the key words here!
IMHO DYOR GLA BUYTHEDIP
II's buying back in, as we speak!!!
People do realise that AMGO have a huge and lucrative existing loan book which isn’t effected by this I.e. not involved in the redress scheme. And it’s within 9 months of the scheme approval actually if we meet the criteria which we imo we do. There’s no obstacles now in the way - BOD have had time to prep the new business products and no doubt given them in advance of this to review. BOD are not fools. Even they were buying higher pre court approval says it all.
The only negative ninnies are the fools that decided the short this that was the riskier play!
IMHO DYOR GLA BUYTHEDIP
@craignews just check your understanding of JPM they dont own 15% if anything... have a look at the RNS dated: Thu, 9th Dec 2021 shows they are below the threshold.
currently no IIs invested in Amigo as we know it (for me there is a buyer for every seller 22m volume yesterday so 11m shares purchased thats a lot for retail investors speculation i know but look at the charts on a 5min breakdown with volume and youll see interesting buy patterns)
Exactly Craig stuff and blustering nonsense being spewed out - the TW crew out in force today - how many chances you going to get to close those shorts fellas! Tick tock
IMHO DYOR GLA BUYTHEDIP
Amigo is still ultimately under investigation. However, new Mgt, new products etc. Findings no doubt will slate previous management and the likes of Hamish who should have his approved status removed. Prk should be in the dock - basically drives around his Bentley courtesy of pumping out illegal loans. I hope the FCA focus their Ire in the right direction!! We will get a fine and that fine will also go into the pot. I reckon something like 2m. There will be a report on past mistakes and how they intend to regulate more tightly and proactively going forward. This will take a good 3 years to get back as they won't get to dump loans out the door!
Yuri
They don't need an RI to relend you plum, lending is to start again within a maximum of 9 months from sanction, the RI, if it even happens, is within 12 months of sanction
Considering JP Morgan own around 15% of Amigo, I'm pretty certain there will be conversations around borrowing, and lending
Sharebel - don't we actually need FCA approval to lend first?
They gave a few things to satisfy, only one has happened. The next should be fairly simple exercises (so long as the BOD haven't told any fibs) but they do need to actually happen. Can't just lend out the £35m.
The FCA said they anticipate approval "within 9 months of the scheme being sanctioned". Won't be overnight.
I was wondering where all the Green came from - Yurine back to talk rubbish then haha. FCA fine already agreed and personally happy the SP is still subdued. If it shot up to 25p then the fine would shoot up too potentially!:-)) This is all orchestrated now and the FCA as partners are hardly going to shoot us down after 2 years of negotiation.
Yuri - wrong son and I refer you to Largey’s previous post here so do keep up
‘They can lend up to £35m they dont need to do a RI to lend that! (they have the remaining amount of securitisation facility) this will be evidenced within the qtr results due shortly
Why would the FCA give a huge fine that would totally derail the SOA being completed and stop creditors getting the maximum amount of redress’
35 MILLION is no small change. We hit the ground running with new business products which should be announced to market very soon - news flow will be fast and furious now
IMHO DYOR GLA BUYTHEDIP
Because this year situation is very different and there's a long way to go before they reach any profitability.
I found something interesting that last year the share price rocked with bad result, this time share price sinks, what result we will have?
Craignews
It's regulated industry, to get approval for relending from FCA they need to meet capital sufficiency requirements, AMGO have to go through RI to get this sorted first.
https://www.fca.org.uk/news/statements/fca-response-amigos-scheme-approved-high-court
It was the 438050 buy - it’s all I could get at that price before paying 7.34p
Just coincidence I think.
sorry dlong may I ask did you do the 4 separate trades at 9.20-9.24 or the one 438,050 at 9.39
Share it then :-)
2phevs - that was me and it was a buy.
I’ve got picture evidence of the trade if that helps
looks like some PI took a leveraged short position of 438,050 at around 7.30 avg in 4 trades between 9.20 and 9.24
It was then hedged/covered by the platform in one trade of 438,050 10 mins later
looks like the platform decided the PI's trade was not a good idea
Just a treeshake - Remember, over the next few days we will get the RNS stating that the judge has signed the judgement. What may be included, or follow in another RNS, is what the new products look like, with also possibly the lending date.
We are also waiting for the RNS to state that the FCA has approved for re-lending. It's worth noting, the BOD have not been doing diddly squat for the last year, and have likely lined all the ducks up ready for when the court sanctioned the new scheme. I am expecting quick and steady flow of news, all with a positive spin. Don't be surprised if you never hear the words dilution, and RI again
Falling below 7p? Looks possible now, I am very surprised…..
Come on BOD get your hands in your pockets.