Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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"The Company's Results were on target to be published on 28 November 2022, as previously announced, having been audited by BDO LLP ("BDO"). It is standard practice that, should material allegations be made against a company undergoing an audit, then such company is subjected to an enhanced set of audit procedures."
If this were true wouldn't shorters just do this all the time as a way to decimate shareprice, it will work here because there is clearly something more to the story..
Paying for overvalued assets is a clever ruse to raise NAV on which your management fees are based. Then finding the charities providing rent are financially weak, and your tenant group is the least likely to pay any rent ( often as they are on state benefits which some people think are generous but aren't) and you have a recipe for failure. It sounds a great social idea to house the homeless etc and I understand why the company exists but it needs empathetic and intensive management and skillsets. I don't feel private enterprise is compatible with the client group. The issues raised by Viceroy ring true.
Real assets are supposed tot be 111Gbp, hardly to believe that will go away. Not all leased property will not pay rent. To lower my risk, I sold today half of the shares I bought yesterday at 71Gbp average . Will see on Mondaywhen the results are published.
Yet another scam ESG share that has been exposed looting shareholders money. Going to 30p, then will disappear. Shareholders wiped out…..
A lot of stocks where traded yesterday at 65Gbp, earlier shorters that covered and new shorters entering?
They can't state the what is in the report is true either. Maybe the only good news is that these are real assets .
Don't rely on institutional fund managers to do any real due diligence. They don't do it. They sit down with management, ask them some questions, read a couple of sell side reports, calculate the yield and maybe look at the industry trends. Maybe they build a spreadsheet. They do not do the type of work that would allow them to spot the problems at Home REIT. They make money by charging low percentage fees and accumulating big pots of assets. That model means it's simply not cost effective to monitor for fraud or other bad behaviour - that kind of work is very resource intensive. They take the view that they are better just diversifying away the risk and hoping they're no worse hit than any of their competitors.
Also, it's not their money! They have a LOT less at risk than the activist short sellers who are exposed to regulatory and legal risks, as well as a large short position which may go wrong. Viceroy have vastly more "skin in the game" than the people picking stocks at M&G.
You don't believe me? Keep holding that bag and see how it works out for you.
DERAMPER! you are suggesting that all the existing institutional investors have not done due/dil before investing.
Who are you working for?
https://twitter.com/AIMhonesty/status/1595859460144218114
"As we @viceroyresearch write to the M&G board & their compliance. We hear reports from market participants the portfolio manager has barely done any DD or considered the risks. Is #MandG going full @Wirecard ****** #DWS?"
From the digging I've done here this appears to be a mess of epic proportions.
Interesting to see RNS yesterday stating that M&G have increased their holding from 13.2% to 14.3%. Hopefully their confidence in the company is well founded. Monday's results will hopefully be good and the SP will rise from here. I'm invested for the long term- as long as no more nasty surprises!
GLA
Present company excluded of course lol
Quiet is better lol... don't want to entice idiots here and their continuous irrelevant chatter! Focused here to return into the 70's.
gone a bit quiet
agree.
Took a view on this one, and entered on the dip yesterday.
take an independent view
Looks to me as if II's are taking an advantage of the fall and picking up larger stake in the company!
Delayed trades are interesting reading :-)
Onwards and upwards tomorrow I say
shorts closing imo.
might see bigger moves here
What’s happened here.
But the spread says it all - 60 vs 60.3
Mm’s are taking this up no problem
GLA are hold tight
Not to mention also that Liontrust and M&G have between them this month increased their positions over 17% of the company... I think i'll believe those who've hedged their own cash to do their own due diligence rather than an independent report looking to make a quick buck!
Just reading the last update RNS is enough to reassure me that there is no problems currently and this is purely a money making tactic by the short term short attack.. disgusting
https://www.lse.co.uk/rns/HOME/trading-update-and-notice-of-half-year-results-ly0yyee4pb04e6h.html
and a squeeze is coming for shorters.
with this unexpected drop today or intended misleading report out,shorters will be closing their shorts and this will bounce much harder from here!!
The wording in the RNS was interesting “it is the directors belief that …..” whereas a firmer way of putting it would be “the directors note that / the directors confirm that…” it does leave open a small window of doubt they way they’ve put it.
At least they have come out and said it is all rubbish and not true! As Many companies would not!
Well IMO I think it's down right dirty tactics to issue a defamatory report without engaging the company first to substantiate details or verify and compare.... Shows it's just a manoeuvre to make money by initiating a short. Illegal in my books and as far as i'm concerned, but we seem to see this day in day out... they know it'll take a lil time for the company to issue its own report, so in the mean time they'll reap as much as possible.. crazy! Just a buy op for mere PI's I guess!
@Bladey - I really hope they do as well! It is about time they get burnt!