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CV-19 not 10 - another thing I feel leeds to illiquidity is the stupid consolidation they did , it should be 3.8p not 38p - put's AIM punters off if they have to pay up for shares IMO.
The BoD is also clueless about PR and interview like several corpses at a wake - sorry if you read this BoD, but try to get a bit of excitement in your podcasts please!
I do think they are doing all the right things though and I have been seriously buying this year.
Mr Nation, the share has tanked due to poor management in the past and some bad luck this year with CV-10 However I believe BRD has turned the corner and later this year the s/p will move up significantly. There are many (if not most?) shareholders at a significant loss (the s/p in 2015 was an equivalent of £165.00 per share, that is significant even by AIM standards!).
There are many just wanting out and until the company delivers on something substantial will feel the same way IMO.
If they do deliver what they are aiming at 100mil tonnes per annum by 2021 at 4.5cpht and cost of $190 and sale value of $400 a carat by early next year then gross profit for 2020 should be around $9mil - so with a current MC of just under £3.5 mil BRD is a very strong buy for me.
There will be a significant increase in reserves of ore announced in Q3 and sale of some large stones, it may take a few months but by middle of next year (if they do what they say!) the the s/p should be at least (even in SA) 3X gross profit so $18 mil or £14 mil or 4p s/p ish - could be higher, or a lot lower of course - that's the judgement you make buying shs.
Capricorn I have had an SVS account since around 2011 - I opened a Beaufort account a couple of years after that - I like to keep a few accounts for the very reason we are discussing - I just picked the wrong two. I also use IG and Spreadex.
I have heard ITI are going to allow trading next week and a friend has actually sold stock and been paid by ITI - so it should happen soon - I decided it was better to wait for ITI to open properly so I don't miss out on opportunities that I may miss if I transfer - though I could have sold some stocks at multiples of their current value had SVS remained trading - I am very unhappy with the whole process inc. the FCA/the administrators and ITI - all totally useless!
Sorry for the OT posts will stick to BRD now
Castaway/Strudel,
With the current situation being what it is with ITI I'm in two minds what to do next. H.L. have told me it could take two to seven weeks to transfer my ISA account, depending on the cooperation of ITI, among other things. No mention of the of the timescale for s/s account. I'm worried about missing a target price on a couple of holdings having already missed one opportunity thanks to administration.
Castaway, what made you transfer to SVS? I'm not asking just out of curiosity.
Capricorn & Castaway,
I'm a fellow SVS->ITI transfer prisoner. I am losing all faith in ITI. The MSE (expert for saving money website) has a handy forum for realising you are not alone. I managed to get my trading cash from ITI via their clunky withdrawl form, still await two Phoenix accounts to become live, and have in parallel initiated two transfers out to other brokers. I was advised 7 weeks by ii. HL haven't even give me a guesstimate yet. I imagine every former SVS account holder will be moving their money out ASAP - and ITI are hopelessly under-resourced to on-board the accounts, sort out the bugs in their software (are they really manually moving holdings into Phoenix accounts, reconciling line by line!) or deal with all the transfer requests.
I can see 7 weeks being easily double that.
Hello Capricorn I have been in the same situation as you with Beaufort and now for my sins SVS - the Beaufort administration seemed to completed in around 6 months and there was a seamless t/f to some good broker, with SVS it is not far off a year and the brokers they picked to t/f shs/cash to are not prepared or even up and running as of today - we were assured we would be trading (or able to access our cash) 2 weeks ago with the new broker ITI Capital. I think it may take a week or so to t/f your holdings to another broker as ITI seem ill prepared. The whole ITI platform is being built before my eyes, I log on every day and a little bit more is done. Apparently ITI will be tradeable by middle of next week so fingers crossed - the whole SVS debacle should be looked into why the FCA had to deny thousands of small private investors of their funds for nearly a year due to some irregularities with some funds SVS managed is beyond me. I doubt complaining will help but when I do eventually get my investments back they will be getting a very long tirade by email from me!
Good luck with your transfer.
I believe some others who post on here have been caught up in the SVS administration and hopefully give me some advise.
I have just been informed by Hargreaves Landsdown that it would take several weeks to transfer my isa holdings from ITI to them. I don't recall that being the case when my shares were transferred from Beaufort to SVS.