Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Admin just delete the whole thread, which includes all innocent posts on that thread too unfortunately
Mine and bond streets posts removed,don't know why my post removed admin he was clearly posting lies
inclement weather over bondstreet i fear.
inclement weather over bondstreet i fear.
Many will have noted the AIM market is an equity or nothing market. Until the late 80's it was possible forr relatively small corporate entities , including building societies, local authorities and plc's, to raise certain categories of finance via short dated corporate bonds. Billions of £'s were raised in this way. The advent of "bancasurance" and Fred Lawson tax changes ( eliminating bond washing) squeezed the market. Bank squeeze and need for improved ratios means there isnt enough finance. It is hampering growth. It would be helpful if Osbourn could come up with tax incentives to get this market going again. Private co solutions would help too. If QPP had produced a forecast point to £200M pbt over 2 years and the need for £30M 18 month cash, and asked its shareholders to protect their investment by bridge bond 18 month loan to get it over the hump, I know I would have stumped up. Messy and irritating to most in the city. I quite like that. ...but £200M + has its attractions. Mel
Many will have noted the AIM market is an equity or nothing market. Until the late 80's it was possible forr relatively small corporate entities , including building societies, local authorities and plc's, to raise certain categories of finance via short dated corporate bonds. Billions of £'s were raised in this way. The advent of "bancasurance" and Fred Lawson tax changes ( eliminating bond washing) squeezed the market. Bank squeeze and need for improved ratios means there isnt enough finance. It is hampering growth. It would be helpful if Osbourn could come up with tax incentives to get this market going again. Private co solutions would help too. If QPP had produced a forecast point to £200M pbt over 2 years and the need for £30M 18 month cash, and asked its shareholders to protect their investment by bridge bond 18 month loan to get it over the hump, I know I would have stumped up. Messy and irritating to most in the city. I quite like that. ...but £200M + has its attractions. Mel
Addinkt If the covenant of the payer is good, you can always convert invoices to cash at a bank.Odd if SGH had not arranged enough finance to get to cash generation. Mel
Bordersman, interestingly a competitor, Parabis, had exactly the same problem with cash flow. They went into administration this week. They were unable to raise new cash by factoring or any other means. They were owned by a private equity firm.
You're clearly linking a lack of cash generation SGH with a desire by "lawyers" to avoid responsibility, re escrow and hearing loss rebates I fear this will not go down well here ...
On HL WIP. If SGH are prioretising cash generation then It hardly suggests HL cases will be the priority. On escrow - SGH will have a go - so it aint all over . Mel
Oh...what a surprise, It is obvious from their presentation SGH is generating cash by scaling operations back a bit. I wonder if Chairman Rose thought of that too? Mel
On SGH price collapse. When QPP sold PSD it had £45M debt it cleared. Common sense tells us that at least one months invoices could be factored. It it had kept PSD it would have needed aprox £20-25M additional borrowing to Process WIP on the books + HL WIP. Therin lay the problem. I have suggested that to keep on going if banks were saying no, it would have needed £40M finance somehow ( £20m bank £25M expensive hedge fund/mezzanine finance?). By reference to SGH research we can be pretty clear that 9 fig £ profits will be the reward when WIP gets to the invoice stage over the next 2 years. SGH now has the problem if you can call it that. It needs to finance the Work in Progress until it is net cash generative. It has we assume arranged enough borrowings to cope and common sense suggests that, after buying the portfolio at a knock down price, it will get to the cash generative stage as quickly as it can......and start banking ongoing 9 figure £ profits. Eddison is suggesting 66% EPS hike in the year to June 2016 and a further 23% in 2017. If I was in charge I would be using provisions to smooth that rise of 89% . 40% EPS rise in the next 2 reporting years with a divy yield of 4.4% might be a good place for PI's. In a couple of years SGH, according to Eddison , can be expected to bank A$ 592M ( £282M) ...giving it , at today's SP a forward PE of 3. 16% of SGH is held by shorters and they can only have their evil way if there is a weakness. Well the weakness is the SGH borrowing ( Hugely bigger than QPP needed to keep going) . If they can bank £282M PBT in 2 years they can no doubt pay down some debt. Lower debt and much higher profits will put a different perspective on the SGH debt. http://www.edisoninvestmentresearch.com/research/company/slater-gordon I have no doubt the timing of any improvement in the SGH will be unpredictable and in the control of institutions and stake holders manipulating the SP . Nevertheless with a PE like that and EPS growth predicted, I kam pretty sure I can be patient and wait. Meanwhile the Turnaround geniuses have turned their back on ongoing 9 fig profits and a good steady business model, and unless they are incapable of cash flow drafting - we dont know why. Well we do £4M was an easy pick. However the duty of directors is to look after widows and orphans like me ( well I am not ...but you know what I mean). Not push us off a cliff. Mel
Always been an early riser. Get my work done in the mornings normally. Had a bit of action in some of my other investments recently, which has stopped the boredom. ATB
I fear staying in bed is a waste of life ;-)
Not enough fat on the bone to go short at these levels.
Crikey can't you sleep old chap !
Oh dear...how sad...never mind. I do hope he manages to escape in time..... <stifling a wee titter>
@GrumpyScouser It didn't dawn on me before now ... but bondstreet's first ever post (LOL, read it again - do it now!) was dated 17th September. According to the IG charts, on the 17th. Opened 99.50, Highest 100.38, Lowest 98.00, Closed 99.25 So if he'd opened a short on the day low, it can only be 98p. Since then the lowest since was 94.50 on 29th Sept - perhaps he missed it? Now I see why he's looking for 95 again. I think you've nailed it. He's in the red, and it's just not dropping far enough to exit in any kind of profit anymore.
Welcome back VADM: Blondestreak appears to be taking on water as a result. I suspect he's now looking for a life jacket.... ATB.
I think that bondstreet, "Old Kent Road" is probably about fifteen years old. Chronic.
Bondstreet, you wrote: 'IN the light of the reduced cash flow at SGH escrow may come under scrutiny as well as any rebates from hearing claims' You are clearly linking reduced cash flow with escrow and NIHL revenues. There is no link and never can be so your intention to mislead is blatantly obvious. Neither is this a matter of your opinion or anyone else's. It is evident that you are either determined to deceive investors or you are very ignorant in matters of investing and should not be posting. Alternatively you are just a thoroughly dishonest and manipulative individual who feeds on vexatious interaction on public BBs. I know what my OPINION is on that.
Admin, I have reported Bondstreet's 1423 post because it is blatantly dishonest and designed to mislead your members. As he well knows, the money in escrow can only be forfeited through due legal process as a result of a breach in the terms of the sale: ('a bond, deed, or other document kept in the custody of a third party and taking effect only when a specified condition has been fulfilled.') An apparent cash flow issue for S&G certainly does not qualify as any kind of breach by QPP. Furthermore, Bondstreet's comment concerning 'rebates from hearing claims' is equally deceitful as the terms of the sale of PSD included an agreement to split/share NIHL revenues, whatever that sum amounted to, over a period of time. Again that figure cannot be influenced to address 'reduced cash flow'. Surely it is time to deal with this vexatious and persistently disingenuous member? His intentionally manipulative posts do this forum no credit whatsoever. Enough is enough!
The term 'oxygen thief' springs to mind....
As usual.....BS puts a negative spin on a comment.......
more utter nonsense from BS: if SGH have cash-flow problems that will NOT have an effect of the QPP Escrow monies. Total utter tosh....but I guess you're just worried about your short.