Sapan Ghai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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perhaps...or perhaps rocket to 30p ...not sure your crystal ball any more reliable than Tom's...or Harry's
sub 3p
u in?
ofcourse .this one is nagging
Could not see this getting as low as I thought initially, so back in at 5.9p. Way oversold, IMO.
only one?
not so hopeful for goldies lol
Jolly, that what I though so moved into another stock ... I have never been in mirl...
is a great virtue ...selling at a loss may well prove right call...since what is going to move this up in short/medium term? ...and your exit on MIRA proved astute (another company for which I have Jolly high hopes)
At least I'm honest jolly....there is nothing with a trade either. We all need each other to create the market Good luck jolly Ps I sold at loss but think this has great mid and long term growth potential
lol
Not the best.... I sold out earlier Good luck guys
seems Jolly understandable...I guess the hot/trader money has departed ...now patience (and luck) required imv ...GLA
Ring any bells? I lost a packet on that particular vermicelli container. Very difficult to get China firms to pay up, in general, but I thought collection would be much easier with the change to SaaS, ie no pay, no play. I'm in here at under 4p, so happy to watch and wait. GLA
good point , wizard ...not sure about Chinese culture and exchange controls ..interested to hear others' perspective
I get increasingly concerned at whats going on at GNG and whats the true picture is. The auditors notes in the last set of accounts really worry me. I quote :- In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosure made in note 1.5 relating to approximately £19 million of accrued income (2012 approximately £15 million) against which no allowance has been made. Given that these amounts are not yet invoiced for collection, and that they relate to incomplete contracts, current market conditions indicate that there is nevertheless material uncertainty regarding the recoverability of the accrued income amount." Also I has worked on the basis that a cash position of over 4 million made a market cap of under 3 million a 'no brainer'. But increasingly I wonder what the true position is as I see their 'net cash' position is down to 1 million. So is the true cash position subject to the same interpretations as their income statements? Lastly I keep asking myself why if the outlook here was rosy then why were there no director buys when the shares stood at only 3p earlier in the year? Surely if these were such a bargain the directors should have been filling their boots?
I agree Jolly. I'll leave it to those with Kevlar balls :)
it doesn't sound like GNG is for you ...this is a v risky punt imv: I expect none of us here are experts on Chinese business (happy to be corrected!) & how the receivables may or may not be effectively managed ...Western experience is probably unhelpful lol ...no advice intended
Thanks, had a look at a few, even more scary now In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosure made in note 1.5 relating to approximately £19 million of accrued income (2012 approximately £15 million) against which no allowance has been made. Given that these amounts are not yet invoiced for collection, and that they relate to incomplete contracts, current market conditions indicate that there is nevertheless material uncertainty regarding the recoverability of the accrued income amount. If they were billed and un collected, some sort of bad debt provision will be building up, as they are not billed ans not being provided against, they are assuming all cash will be collected, hmmm.
I have my order in for 5.5p. You may be right about 4p, but I'd be happy with 5.5.
agree with that...the refinancing during 1H 2013/4 was of the new CULS, though?
Hi Jolly, you're quite right in looking at the potentail upside here but as has been stated many times before, that should be in line with a Macro economic recovery within China itself - Obviously that'ss not going to happen overnight, hence realistic timeframes for such need to be taken on board. We also have a situation with the new CULS as negotiated per the 23rd march RNS & expiring in June 2014. I think its important with this stock to take into consideration the timeframes associated with recovery in line with macro factors atb
u may well get a chance to play this one again (say 4.5p entry lol??)
well, yes...but I hate(d) the convertibles ...I see this as a "holding" rns...fine but nothing great, I agree ...will take (a lot of) time ...and may not turnaround ...or may (God forbid) do something v unpalatable (cf BSST) ...so a sp of 4-7p seems Jolly reasonable given the risks/uncertainties ..but the (potential/possible) upside is clearly HUGE ...no advice intended
...er me or Spanish lol? ...but your instruction is the most important for punters in general ...forget these BBs (they are for banter largely imv) ...READ THE RNS ...REFLECT, RESEARCH ...and have a coffee break