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Saw a load of Endurance non tradeable on acc today .
That is usually a sign of an OO but never had an OO for a non UK share and can see no information .
I would be greatfull for any information surprised this board has recent chat .
Became Endurance 12/7/21
Became Regent Pacific 11/5/2016.
Bought Plethora 4/2/2016 .
This board has had constant chat. Granted, there have been a few days of no posts, but this is now due to the recent rights issue which has given cause (in my opinion) to the company withholding price sensitive information from the market and shareholders. Such as, Manufacture approval for Europe OTC. US FDA phase II results meeting (scheduled for Oct) leading to continuation on to phase III start. Marketing approval for Singapore (approved in July !!!) and China completion of the phase III (scheduled for completion in Oct).
It would also seem that since the orchestrated drop in sp to the rights issue price the M&Ms are keeping the sp at the current level by way of 10k (single lot) trades. Note: The share price was around 0.15 for many weeks, yet they suddenly decided to have a rights issue at 0.07. Interestingly exactly the same modus operandi as the DLI purchase a year or so back.
All my own opinion of course....... but seems pretty obvious.
Thankyou bignose58 oddly the Rights had disappeared from my acc yesterday night , but have reappeared in transactions this morning , maybe DEGIRO wanted to decided if they were offering or not .
It appears to be a 1 for 1 offer ?
Do you know timetable ?
morning bignose.yes it's all very odd how nothing has been announced,but we are edging closer to the issue of the prospectus,which presumably will have to clarify some of these issues(or maybe not!). ripley here is the timetable in the announcement of 31st october.shares have gone ex rights today,which may have something to do with what you are seeing in your account http://www.endurancerp.com/ICMServlet/download/13-2646-4296/ew_00575Ann-31102022%20(b).pdf
Ripley,
The rights issue may only be applicable to HK. They may not be offered to anyone outside - see page 16 of the below.
http://www.endurancerp.com/ICMServlet/download/13-2625-4265/ew_00575Ann-26092022.pdf
Thankyou The.Italian & bignose58.
I will let you know if I am able to take part ( but as the none tradeeable are on acc I hope to get chance )
I might have memory of this occurring before , the broker wanting a high fee to partake and share price no discount so left it .
But I own so many different shares might be mixing up with another holding .
I Just want to remind myself of what I am doing here ( I hope that is ok )
Original Plethora was recommended to me my SVS securities ( they raised money by buying at a discount in AIM company's fund raises, then holding in principle & selling them on quickly at a profit to clients )
They were trained to be charming .
You live and learn lol .
Looking at the 5 year chart on ii on 6/7/18 they were 0.42 HKD
Around covid lows 3/4/20 fell all the way to 0.06 & 0.07 HKD
Today 0.076 HKD ( On announcement date of 31st October 2022 0.07 HKD )
In-between 0.26 HKD on 19/02/21. ( over 70% drop in 21 months )
Company Profile
Endurance RP Ltd is an investment holding company. The company runs through two segments: Biopharma and Corporate Investment. Its Biopharma segment is engaged in the research, development, manufacturing, marketing, and sales of pharmaceutical products, and it also develops artificial intelligence (AI) systems for the field of biological aging clocks. The Corporate Investment segment is engaged in the investment in listed and unlisted corporate entities. The majority of its revenue comes from the Biopharma segment. Its geographical segments are China, Europe, Hong Kong, and Taiwan.Regent Pacific Group Ltd is a Hong Kong-based investment holding company. It has investments in healthcare and life sciences sectors.
Ripley, to fill you in a bit more.
I don't think I am wrong in writing that most LTH's invested because of the prospects associated with the Fortacin PE product, however. Due to huge amounts of incompetence by an inexperienced BOD and CEO (they are all the originals from when the company was a mining investment company - There is not one person amongst them with any knowledge of pharma or commercialisation of pharma products).
In March 2014 (when PRG now ERP CEO took over the reins) there was a PLE announcement called "Unambiguous FDA way forward" (or something to that effect) whereby they stated approval would be obtained mid 2017. Although there was a complete ****up with trying to reduce the original 20 dose can to 6 doses which gave a delay of 9 months which meant they should have received approval in the latter half of 2018, it was obviously complete BS since here we are 4+ years on and still no approval. They never did provide any reason why the unambiguous way forward increased by many years and they never provided any reason why licensees at the time who were stated to be at heads of terms walked away. I cannot believe there was any such agreement given we are now 4+ years past their scheduled approval window and they are still making excuses.
When PLE was bought out, shareholders, were issued with shares in RPG with a 35% dilution and the value of the company(PLE) was at 0.95 HK$/share. Since then PLE shareholders have witnessed a total dilution of around 85 to 90% of their holding as well as a 92% drop in share price to todays figure. RPG/ERP have never actually bought a company from cash reserves, they have only ever issued more shares which always gets approved since the Chairman/CEO/bod and their hangers on own around 45% (this will soon be increased to around 60% with this next round since they all receive preferential share purchase opportunities).
..... continued
continued....
The 0.065 drops you discuss are most likely due to.
1. the company wanted to purchase Yooya (a cannabis associated company) which luckily for shareholders never went through (the sp at the time dropped because of this). It soon jumped back up once it was announce it would not happen. At the time they even stated they had a "concrete" alternative cannabis investment and would keep shareholders informed. This never happened and it would appear the concrete was just left to set... :-)
2. Over a year later they purchased the DLI which is associated with Longevity and is currently a white elephant (At the time it was all a bit suspect since they announced later they were looking to purchase a company in May of that year for around 3.79mill usd yet the DLI had only gotten a first round of investment (from other entities) of 3,79mill usd according to the media in June/July). How was that possible and how was it possible that those involved in the first investment round would accept the same amount??? Surely they would want more ??? Again, the SP was driven down to the same 0.065 level and eventually existing shareholders were diluted by 23%. A week before the announcement the sp jumped nearly 100%. The company also had news from an EU OTC approval which they deliberately held back. since in my opinion they wanted to have a low sp so they could give the DLI shareholders more shares in ERP.
Interestingly, at the time the company value dropped to around 15mill squid, which was amazing given the CEO had a yearly salary of 1.5mill USD !!!
Furthermore, the company made a 3mill GBP investment in the Diabetic Boot Company which went tit_s-up in 3 years (this was their only investment where cas was used, but also wasted. The Chairman who initiated the investment and was himself invested heavily bought RPGs investment for 270K.
I stay invested, like a few other longtermers, because ERP should soon obtain Chinese approval (depending on how their draconian Covid policies pan out) and eventual FDA approval.
But do not be fooled by the rubbish that is written on the ERP website since they have proven time and time again, they know nothing about nothing. ;-)
All of this is within the ERP announcement documents, apart from any PLE info which is no longer available, although I do have copies of most of their announcements (RNS's) .
If anyone else has anything to add (or any corrections) as I have only touched the surface/
Thank you bignose58.
I do not know as much as you about this company as you , only that a previous broker advised and it was a Jim Melon company ( no idea if he is a trustworthy guy or not ) I think he is an associate of Tom Winnifrith who has a Aim share ramping site .
After your comments yesterday I was not sure if I would be able to accept the rights shown on my acc .
The rights being sold at 0.0785 HKD
So I placed an order to buy at a lower price for same number ( a little above the allocation as they wanted to round the number to batches 10,000 ) at 0.073 to my surprise I had a transaction email around midnight , but only part of the order lifted .
Not sure now if you think that is a good idea are you more bearish here ?
I had thought you and The.Italian thought the rights at a too lower price and was not good for LTHs.
I am also not sure how safe chinese shares are as the same broker advised me to buy JQW which just delisted and disappeared back in china , with investors money .
afternoon bignose.nothing to add to you excellent summary,apart from endorsing how depressing it is to see the catalogue of ineptitude summarised in this way. actually just thought to add that the position would be even worse if it were not for the(purely fortuitous imo) beneficial effect of holding and disposing of the legacy investment in develop global (formerly venturex).
Morning The.Italian, thanks for the support.
Yes, it certainly makes for depressing reading and yet, I only really scratched the surface. I didn’t even mention the Ozzy tax debacle where the company employed tax advisers who advised no liability which the company supported and advised shareholders of such facts. Then capitulated and settled out of court. Even though they paid a smaller amount, they still effectively admitted liability by way of a 9mill payment!!!
As you say lucky for the legacy investment paid for their capitulation. It could have paid for the phase iii trials which I am sure could still be problematic if no us licensee comes forward.
yes.i always thought that it was totally inappropriate not to have reserved a contingency in the accounts(which i don't think they ever did)when dealing with a speculative and uncertain issue such as an alleged tax liability. you simply can't,or shouldn't,place 100% reliance on what your tax advisors tell you,particularly when the aussie tax authorities were obviously pretty relentless in pursuing matters.water under the bridge of course,but fairly fetid water im afraid.
Ripely,
JM is a billionaire and invests using his petty cash. A few AIM companies he invested in and had control of have gone tit-s up. They have written that he is the uk buffet, yet. Buffet makes money for his investors, big and small. JM doesn’t. He even lets his mates down too.
That’s also not forgetting the arrest warrant that was issued for him in South Korea for supposed market manipulation. Granted, it’s now past it’s sell by date, but he never went back to defend himself. My understanding is that another, local person, who was involved took the rap, although it was several years ago.
I wouldn’t trust him as far as I could throw him. He doesn’t even know the difference between a Gibson les Paul sold body electric guitar and a normal acoustic guitar…but that’s another story….. lol
It’s very difficult to be bullish when the company keeps letting its shareholders down with misleading and fake news…
Thankyou again The.Italian & bignose58.
I hope I have it correct, that you are both long time holders , but will not be taking up your rights .
( That is even if you could , as bignose58 , suggest it might be difficult for some )
Maybe this rights will not have a good take up as appears cheaper in the market .
yes ripley,i have been a holder since dec 2013(bignose even longer).for completeness sake,i sold out entirely when the s/p spiked to 0.6hkd or thereabouts, but bought back in with my original stake about 2 weeks later, as i felt the potential was still significant.the profit i made on my original investment means the in strict arithmetical terms i am not as badly down as i would have been had i not taken profits,but i am still well down.i intend to stick it out(despite getting on in years)to see what happens when/if we get chinese and fda approval. im sure you will make up your own mind, of course, and this is not advice just outlining my approach.i live in the uk and probably wouldn't be able to take up the rights,but obviously as things stand the current s/p is below the rights price,so i think you expectation of a poor take up is probably right.what im personally most interested in at the moment is the prospectus which will be issued soon re the rights issue.it's goingto be interesting to see if it clarifies some on the concerns we have about recent developments(singapore approval and approval of new EU manufacturer)which we know have happened but which have not been announced to the market,also news on china and fda progress would be welcome.
The.Italian Thanks for replying .
I also live in the UK as I informed I will let you know if the broker invites me to take up the rights .
The non tradable ones put on acc yesterday leads me to think they will .
I am not clear if you would of taken the rights if you were able too ( the share price not being below offer at the time )
I do appropriate what both you and bignose58 and I will think about that when making my mind up .
ripley, just to clarify, i would certainly seriously consider taking up the rights if i were able to do so, provided (a) the price was at a reasonable discount to the current s/p and (b) the contents of the prospectus gives support to the future prospects vis a vis the chinese and FDA approval processes, which are clearly key to a successful outcome.
I totally agree with The.Italians last post, however. I would also add that the main concern for me is will they ever bring the product to market in the us, irrespective of any promises made in the prospectus since they have never been transparent and have constantly made dubious statements about timelines. Fortunately the Chinese approval process is being handled and paid for by a third party although as I wrote, that is now at the mercy of the Chinese dictators concessions on lockdowns which could last for years as COVID is here to stay.
Anyway, good luck in whatever path you choose to go down.
So far looks like Wednesdays buy at 0.073 was a lucky buy . ( approx 7.5% below the offer price )
A pity only about 10% of order lifted .
Is there anywhere you can see daily trade history ?
Do we know what the spread is ?
See
http://www.aastocks.com/en/mobile/quote.aspx?symbol=00575
I think this link will be better. Note ticker is 0575
http://www.aastocks.com/en/stocks/quote/detail-quote.aspx?symbol=00575
Still no email from broker regarding offer .
Have not been able to buy again at the price I paid for the partial weeks back .
Today is a date for prospectus , the 15th dealing in the nil paid rights .
Offer closes 29th so hope to hear soon .
The rest of my planed order to buy the remainder of the of the part of order executed on 30th November mentioned below lifted this morning at 5am ( 0.73 HKD ) I was supersized to see when I logged in the Fx of 9.6289 appears to be in my favor ( approx 3% )
That has covered dealing costs .
Can only assume the prospectus of two days ago has not gone down well .
As a side another company CNR had a very tight deadline rights yesterday , Jim Melon has recently got involved there, I read and he is not taking part there , is he taking part here ?