We would love to hear your thoughts about our site and services, please take our survey 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.
Added today,
Easier to buy than yesterday
L
The 'SELL' at 10.13hrs for 15715 shares is in fact a BUY, I know this because its mine, just FYI
RM,
I was just pointing out that Erris was in fact getting a very good deal with Zinnwald.
And I have no doubt that Erris will be able to get funding to develop and complete this project.
I totally agree with you regarding fake news.
Every PI should do their own research and not just invest based on MotleyFool's opinion :')
Opened up. Be quick. 10p tested again.
Hi sorry not great with tech. I already have the telegram app, but couldn’t work out how to add myself to the ERiS group from your code ‘join chat’
might please you even more to know he’s undertaken to be locked-in for that £1.5m investment for 12-months from the admission date too...
I missed that bit earlier,
I’ve had a quick read up on mr Maxey. I’m even happier with this lithium deal now.
This guy generally doesn’t back losers....
L.
New group for chat
https://t.me/
joinchat/
SsO9Nhq8JVsxQ-euzMmWdA
who’s henry maxey... not a current significant shareholder... but will hold 14.67% of zinnwald lithium plc on admission... schedule one is silent on his £1.5m investment...
Wrt to your actual Erris holding, unless for some reason that zinnwald lithium is deemed not to be isa-able, the. The Erris shares should simply be replaced with the same quantity of zinnwald shares in your isa.
It’s only the Erris gold resources shares which are presently not listed on any market that might end up being distributed as paper certificates.
I’m hoping that they will be list3d on my normal trading account with smartinvestor after the egm has been concluded.
That has happened before with a coup,e of other stocks that I have. Which is convenient really
L.
I would say the guy at lloyds is clueless.
As an existing shareholder, you will get 1 for 1 shares in EGR. the non-listed gold play vehicle spinning out of Erris Resources.
The Ex date for qualification is 27th October, but to ensure that the share register has been properly updated with your holding ( which is likely to appear on the register as lloyds nominees , or something similar), I would work on ensuring any purchases you make are done by Thursday 22nd October (that’s 3 working days before the ex date).
I was trying to buy more this morning, and only 1 of my several orders was filled... just got to keep trying over next two weeks. Definitely a squeeze on I reckon.
Let’s face it, 42% of the shares are in sticky hands already, there won’t be many people selling between now and the ex date.. and of course in the middle of this, given the book build was oversubscribed (they were targeting £3 million, and raised £3.75 million), there’s likely to be people wanting to get in who missed the placing too....
This really is a complete game changer for Erris. Absolutely blinder of a deal...
L.
Was the 10p a delayed trade from the morning ?
10p paid at close, nice
right I've spoken with Lloyds, basically if I want to vote, then they had to register my account to be able to vote. This means that when any of my shares have corporate actions and need to be voted on then Lloyds will automatically email me to ask me for my vote.
The chap at Lloyds read through the rns's and hadn't got a clue! he said wait for the results of the meeting at the end of october and then we will know if we get shares in both or if we get an offer to buy more shares or just if its a name change.
well that didn't take long, :)
More importantly, look at cash position of errris/zin compared with the other lithium plays....
I’d say Erris/zin in a very healthy position
L
They're coming along just like buses - so that will be 5 today, if they do a 2nd PME?
ATB
Lazygun, "paper share certs". Hang on, I'll just go get my quill, ink and parchment and ask them. I do hope not. I lose paper stuff. :)
https://www.europeanmet.com/wp-content/uploads/2020/07/European-Metals-Presentation-June-2020-updated.pdf
Page 8 shows zinnwald, 3rd largest project.
Compare to savannah resources, Erris/zin project further ahead, larger project, and mkt cap half of Savannah’s accounting for new placing shares in Erris...
Definitely head room. Here for sp appreciation.
L.
Thanks Lazygun
I'm going to ring Lloyds and ask the question, will post the answer when I have it.....
It maybe that EGR shares wouldn’t qualify as isa-able since they’re unlisted...., so they may have to go into a normal trading account, or even sent to you direct as paper share certs ...
Be worth checking with your broker though.
L.
Not sure. I would imagine that the share certs would go to the brokers who hold shares in nominee accounts, and then these are distributed to each account holder.
I’m mostly with Barclays smartinvestor, and I’d expect them to list the EGR shares against my account, but as unlisted stock.
Similarly I’d guess with other brokers who operate nominee accounts on behalf of their clients.
L.
When the gets agreed end of october, in my share isa with Lloyds, will Zinnwald just appear with my shares in it? I've only been investing since april and not come across this situation before.
I've read and re-read the rns's and they make my head hurt tbh.
Do I need to contact Lloyds to ask them?
Any advice will be greatly appreciated.
Zinnwald, which is located in the industrial heartland of Germany, is a late stage, high value lithium project with highly attractive economics and a mining licence already in place. A Feasibility Study, first published in 2019, on the Project estimated that it has a pre-tax, discounted at 8%, NPV of approximately €428 million; an Internal Rate of Return ('IRR') of 27.4%; and an average LOM (life of mine) annual EBITDA of €58.5 million.
NPV of approximately €428 million; Hmmmmm
>>>> ££££