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Have a hot 🥵 tuna
With the possibility of news tomorrow (7 days will be up), I think we'll get a rally this afternoon. If you're interested in HE1 then you won't want to be out overnight.
If the news is good (which I expect) then the sp is anyone's guess!
Look at this
All positive, in the right direction. No quick money, but at such a low market cap, rewards will come. The only danger is she takes it private, before we see the big upside.
Today must mark a new low in the Efficient Market Hypothesis economic theory !
A single trade for 88 pence has caused the "bid" to be remarked from 1.35p down to 1.10p ... an 18.5% drop !!!
The company refinanced a year ago - raving about the savings it weill make. Since then, a share issue, debt conversion, and the price has fallen off a cliff. Next announcement we are back borrowing at crazy rates of interest.
What i sneeded is a change in the directors. The present crowd are content to carry on as it has and pocket their fees. Only one who will pay is Mr Rudland and the shareholders.
I bailed ou,t but weirdly i never saw the share trade, anyway i was pretty much even so moved money into pastures new.
Another year yes. I have held these in the bottom drawer for many years. A rise of 17.39% leaves a long way to go to break even.
TAF - I think you'd do well to put your money on ALTN again ... even with the recent rise I still feel ALTN deserves a price north of 250p not the current sub 150p ... it's one of my Top Three holdings in my SIPP. Another one worth researching is TGA (S.African Coalminer ludicrously under-appreciated imho ... with a lot of ESG concerns preventing the big boys seeing the value)
RB - I appreciate your thoughts as always.
Blimey! It was 2018 when I doubled my money on your thoughts on Altyn, 5 years has flew by!
So to be concise, this now looks like a lifestyle share, in a death spiral.
Kind regards, TAF.
It is a text book case of value destruction by the board - rasing £25Ok gross, and cutting the share price to a third or a quarter overnught. After costs, how much have they actually raised? Probabaly less than £200k. This amount could have been raised in a much better fashion, but it shows the board of directors have little experience of listed markets. To maintain their percentasge Magister have had to convert us$255K of their debt, as well. They have three ranches currently standing idle - but costing money to maintain - a sle of part of these could have raised the same amounts as the placing, and diluted nobody. Most of the new shares issued are to one or two parties - so it has not expanded the shareholder base, in any significant way.
TAF - I'm still here - though now highly diluted.
Just looked back to 1/1/23 and the mkt cap is almost identical ... but with 3.5x the #shares !
I had hoped that the price might rise in 2023 from the 2-3p level back up to the heady heights of 7.5p and that I might reduce my losses from 90% to merely 60%, but I'm really not sure. The reality is that Hamish has kept his 50% stake whilst finding some mugs to invest £250k ... but that's all that has happened, an additional £250k of working capital.
This company still has around $4-5mm of operating expense and financing costs to cover ; it has a gross margin of around 20-25% so it needs to get revenue up to around $20-25mm just to breakeven. In 20years of trading this has accumulated $140mm of retained losses ... average $7mm per year ; sadly I feel continuing that trend is much more likely than achieving profitability. But take a punt if you're a gambler ; this could go from 1p to 2p before the PILOWs get exercised and add another 45mm shares to the mkt cap
It is going to be a difficult road I would agree, but they do have a plan. The valuation is underwritten by the assets, which are based on food production, so are worth something to someone. The listing is also worth something as well!
It’s difficult to see the road to profitability
I have decided to have a 2k punt on this after the raise and drop this AM. The company’s performance over the years is dire. Too much invested by the management not to create some value out of it at this level of valuation IMHO. It will be a slow burn, unless there is some corporate activity in the meantime. I did invest here a number of years ago, but only lost 80%! I do however like the sector, but it is Africa so attracts a massive discount.
The current board are less than useless, th ecompany, following the subscription and the debt conversion is now valued at less than a third of what it was last month!
@ RB
Are you still in here, and if so, do you see this as the bottom now, and a good recovery play?
Surely HR does not want to see this fail.
I would appreciate your thoughts.
Kind regards, TAF.
The PILOW instrument did not cushion the blow.
1p. Share
So we now have the fund raise.
What a discount. As most of the board, apart from Mr Rudland, havbe next to no shares inthe company, they cannot be bothered.
Mr Rudland should have replaced all the directors when he initially invested, he should definitely do that now.
Last June a refinancing took place of debt to save US$600k per annum, brokers were appointed last year also, and a fund raising is on the cards. Net asset wise , circa US10 million the company is hugely in excess of market cap, and three ranches, currently not operational are written down to nil. If the business can make a profit there should be a substantial rerate.
Bunsen - you only need to read two pages of comments on this BB to get a 4yr history of the company.
MD owns 50% of the equity ; it's a food producer in Africa and if it was capable of making just 3% net profit on sales then it would be on a p/e of 2. Sadly for many, many years it has failed to deliver
... Africa continues to be a basket case place to invest ... Not being ****** just a realist
I've averaged down, many times on this over the years and now own a declarable % interest in the company ... but have still lost 90% ... it's a DelBoy stock - "maybe next year Rodney" ! but DYOR
What’s going on here then? Looks cheap, any holders know the company or anything?
A very inactive bulletin board and another "non" year for AGTA
I see my comment from 2yrs ago is still on the first page of 'chats'
... so I'll re-post the final section with updates
If any of the BoD are reading this bulletin board - here's my recommendation to Hamish as 50% shareholder
... he awards himself and Caroline 1mm stock options each exercisable at 10p before 31/3/2023 ; a further 1mm each exercisable at 15p before 31/3/2024 ; a further 1mm each exercisable at 20p before 31/3/2025 ; a further 1mm each exercisable at 25p before 31/3/2026 and a final 1mm each exercisable at 30p before 31/3/2027
I'd have no issue with the total share capital being increased by 50% from current 21mm issued shares if the sp was above 30p in 5yrs time ... and it would still only value the company at £10m.
Here's hoping for a better 2023 - Happy New Year to whomever is reading this !!!
beginning to look interesting. With brokers appointed a fundraise must be imminent, and the debt refinancing is positive. Hopefully we will start tto see the value get somewhere nearer the asset value.