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These bb’s don’t half bring out the crazies. Can only use info on this site for entertainment purposes 😆
Hands up for a vote that Sanstef and Ghosthunter are the same person lol.
Sorry Ghosthunter28, source just informed me of £850,000 net yesterday, but due diligence taking place at HO, however the source and scope remains a mystery, could be the credit facility deciding on whether to grant the waiver!
If we're doing a Q&A I'd like to know how a mere contractor would know group level revenue for a given week before the market does.
Also if this contractor is as well placed as claimed and is being truthful about properties good question for him would be why haven't they sold the freeholds before getting to the stage of being within weeks of an RCF breach.
Are you saying in good faith, a) It has an investor which is the cash injection and has the expertise/ knowledge to know how to restructure a DG business or b) Safestyle is being bought out by somebody who thinks their should be a restructure, or are you unsure too?
Respectfully!
The situation is bad. The company is top heavy. It has burnt a lot of cash and the market has had a downturn that been said with a restructure and a cash injection this company will bounce back.
Yes I've only created my account today. No I do not usually invest in stocks and shares. But trust me when I say, I know Safestyle in and out. I have a working relationship with them for ten years along with many of my good friends.
I've come here to let you those who do not know the business or its people that you are wrong.
The only way is up.
Sorry the new account created by Maverick not Mr M
My apologies MrMagorium
If things are a rosey as you are alluding to, why would there have been any need to spook the market with the stakeholder update indicating a pretty dire forecast? As I read this, they forecast to breach their covenants in November.
I quote...
"As previously updated, the Group expects its year-end net debt to be between £(5.5)m and £(6.5)m. At this point and into early January 2024, the full revolving credit facility with the Group's bank (the "RCF") will be required to support the working capital and liquidity requirements of the business.
At this time, the Group remains compliant with the covenants of its £7.5m borrowing facility. However, if the losses forecast for the remainder of the year materialise, this would generate a material shortfall versus the existing covenants of the RCF in November. Therefore, under the current facility terms, access to the RCF at that time could be fully restricted. "
Haha says the new account created today by probably Mr M who is now an expert on all things Safestyle-Uk
Let's wait and see what the next RNS which I think land by Friday personally has to say
From what I'm hearing. Things seem to have turned a positive corner. A late start to window season but over the couple of weeks, things have returned to normal levels. Yvelkan you certainly know what your talking about but I'm sure you can also see the potential upside with a good restructure.
I'm very very very confident of positive news shortly.
Its NORMALLY a big sale season but this usually starts from september where they didnt see a spike there is no evidence except for one week which also uncoincidentally was in the middle of the first cold snap where people get issues... we all saw a spike over last 10 days. Who knows if it will last and even then one break even month for them after probably close to 10m loss in rest of year wipes put all those assets and unable to get funding.
They have also dramatically reduced their digital marketing spend, which will hit them in the next few weeks.
With pleasure. My source is a contractor to Safestyle. Very reliable. I can also confirm yesterday alone they hit £1,000,000 in sales.
Yvelkhan currently true yes. But a restructure is in progress.
What's not true however is your understanding of how busy/quiet it is at this time of year. They have now entered Window Season. October and November are very busy sales periods. The cold weather has hit the UK.
Investors like Big Numbers and its Saleforce are producing them!
Thanks, co
Its not 4m per week. It was just last week they did this and they are blasting it out everywhere as its been much lower than that for months
If the properties were unencumbered they could simply sale and leaseback. If Ghost's numbers are true it would be enough to clear the RCF, enabling them to tell the bank to go away and then not be forced into a firesale of the firm.
Would even leave a decent chunk of working capital. Definitely something missing from this story.
Ghost, You are discarding the businesses liabilities in your analysis, and simply referring to their assets.
You also aren't referring to the fact the sales they are generating aren't enough to cover their overheads, hence why they are making pretty heavy losses and forecast to make more.
See RNS about them being deep into their RCF and looking likely to breach covenants. This is as they enter their quietest time of the year.
Suggesting they won't enter administration is a massive prediction on your behalf.
Thanks, could you share your source for the £4m weekly sales, as we're talking about a plc here presumably that's not inside information
Both owned outright.
Do they own the freehold to those properties outright or are they mortgaged?
Some very interesting opinions to be read here. And a lot of them have a lot truth. However Safestyle will not be entering administration. This is still very much a viable business of which is the Envy of its competitors.
The week just gone SS took £4M+ in orders. Which is twice that of Anglian and Quadruple of Everest.
Not only is this business viable, it has genuine tangible assets. Listed below:
Factory Machinery: 2M+
The Factory: 10M+
The Head Office: 3M+
Safestyle also has an order booked Valued at around £10M+ and the brand itself name alone will be worth many of millions.
It's also got the greatest sales and canvass force known not just Double Glazing by many other Sales Organisations.
A cash injection against assets and a business restructure or an outright sale in the region of 30M.
I expect a huge share price spurge in the coming weeks. For those who think this is black or Red. Your wrong. My sources suggest very little risk. Write this place of at your Peril.
Another 4K buy disguised as a sell.
Happy Tuesday Folks!
1.28 million buy filled last night at 1.99p…..;MMs have suppressed the price to fill these quite large buy orders
Unless they have a seat at the table, they’ll know no more than the rest of us
If you say so codger. Looking more and more likely to me. Major shareholders dumping stock at huge losses would suggest they think there is a big chance of getting nothing for it.
Yes, you have to accept that the likes of Janus, will have more info that people on this board. As a 10% holder, they would have been sounded out I think. The delayed sells from them wrongly were interpreted as buys. I would expect them to keep dumping, if they were happy to write down 98% of half their shares!
There's another big red flag to add to the hundreds of others. Institutions dumping, which would explain the periodic dumps at 1.5p last week.
Still someone has a bucket catching the turds.
Another company selling half of their stock.
Let's hope for this spike so we can jump ship