Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I wonder if there's not a market in the Magenta fractions because they are concerned they will transact below the offer price?
We already know SGI is technically broke, it can't service it's debt without forbearance, or as it's Directors say "the Directors believe there is a material uncertainty relating to the Group's position as a going concern. ", but what happens to the balance sheet if the process of the fractionalisation of Magenta has caused it's value to fall, Phoenix have kindly made it an encumbrance on SGI's , at the same time that the fractional price also collapses? Total disaster? I think it could be.
Pearls, there's 3 lots available, the commission on that will probably cover no more than a few minutes interest on SGI's compounding interest bill. Thinking anything else is just delusional. It's like claiming the sales tax on 3 sugar cubes is enough to fund free NHS dentistry LOL "Going well" hahaha ......
Very busy shop yesterday
Trading of the secondhand fractions seems to be going well! Current value of them is £150 each.
SG and Showpiece are going to rake in the commission!
Castlenau share price has sunk under even the insider entry price of 90p -
https://www.sharesmagazine.co.uk/shares/share/CGL/trades
Hornby floundering about losing money, with zero leadership and ditto Gibbons - there goes Castelnau's only 2 sexy brand names.
Channon will pull the plug at some point, and move on - and Bye Bye everyone else
Hey Castelnau,
How are things down under?
'Working Well'? As in the same way Putin's Invasion Plan is ''working well''?
It has been a disaster. Showpiece managed to see only 15% of the GUANO sold to the Gullible Lemmings who have no way of selling them even for 1 penny apiece, even now, 6 months on, which is of course the current Gibbons share price.
Same Director in both - Graham Shirecore - who knows nothing about stamps.
Looks like the Showpiece site is working well and creating a secondary market as planned
The showpiece Marketplace has opened. So far there are 4 coin pieces up for sale starting at £64, but the Magenta pieces are not available to trade.
If you bear in mind that one of the characteristics of stock exchanges is that their mechanisms are rather set up against you - it's nothing unusual.
I think there's a potential threat to the publishing revenue. I get the impression SGI's competition can smell blood in the water and are planning increase their English language publications. That small amount of "positive" news in the the lst update looks under pressure.
You are right, as an investor in plenty of unlisted companies looking to expand in the US, it can be a nightmare for alternative and novel financial products.
I remain of the view that 0.5p might be ab entry point to speculate, at that point you can disregard the shocking trading performance and potentially speculate in the goodwill arising from the name. On that, does the Royal warrant go if the Queen dies? I can't quite remember.
This is becoming unremitting, set against very little volume. For us shareholders this is deeply dispiriting.
When is this trend going to reverse and why is it so steep now when according to the last update [in April], things were really going well at SG and recovery beckoned?
June has arrived but the marketplace hasn’t and I cannot see any explanation of this on Showpiece’s site. Not good.
There seems to be a myriad of issues to deal with, particularly for certain categories of assets. I wasn’t thinking about tax.
Are you thinking there's a problem over US/State taxation? They could come as a show for first tranche US investors.
Welcome to the market place....and here's Uncle Sam's request for tax. ;)
https://cointelegraph.com/news/what-you-should-know-before-buying-or-selling-an-nft-in-the-us
Does this help?
"The error of selling in desperation" now we get it Pearls, you meant desperately selling to USA based customers when the relevant approvals weren't in place ;)
I agree Victoria, it might be significant if they've been stopped from doing it. It's going to reduce any potential market and be a problem with any US citizens that bought into the first tranche. I doubt there will be any clarity, they are too in charge for that, so it's a crippling wait to see if they get the "market" up and running before July and if this is BIG issue or not.
Just to repeat my point from another thread: Showpiece’s web site states they are no longer accepting purchases from USA based customers. This must be significant but does anyone know why the restriction?
I know that. The point I am making is that Showpiece’s web site states that they are no longer accepting purchases from USA based customers. Pretty important, I think.
In answer to Victoria, there are currently no pieces available for sale. The Penny pieces sold out, the Magenta pieces are off sale (but according to the website, more will be available when the marketplace opens), the Warhol item has not yet been offered.
I wonder if the lack of "market" is connected to the issue that Victoria mentions?
Maybe there's been some regulatory ****-up they haven't been able to sort out? Might it be big enough to scupper the whole thing?
The failure of Showpiece to create a Fractions market by June (ie. in May) is not helping. Investors do not like missed deadlines and SGI is a part owner of Showpiece.
Not really, it just shows you the force of downward pressure. There are more sellers than willing buyers. There must be a tsunami of selling coming down the track. 0.5p
Devon, don't even you think it is odd how a small amount of shares - 40,000 - are sold and the price drops so much, but afterwards, over 200,000 are bought and the price has still not gone back up? It seems very one-sided?
(-10.34%) ......0.5p gets closer everyday.
Can anyone tell me why Showpiece are no longer accepting purchases from US based customers?