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The man not mentioned much is the non exec finance director Jeremy Sparrow. Jeremy has experience in fund raising to the tune of 23 billion dollars and recently raised 1.5 billion dollars in six months for a new project as head of Investec Resource Investment Banking in Asiia and Australia . With a man of this Calibre to finance and Giles Clarke to find the company ,it's hard to see this going wrong. For myself I don't see this going till Jan 21 2018 but obviously with any acquistion will come the new CEO and company name.change.
Puddly just a matter of waiting now - got used to that - to hopefully be informed of an RTO into a company operating in the Indian consumer sector. Have up to 6 months, but I have confidence in GC to deliver within this timescale. Meanwhile, we can watch the value of the company's investment in VG!
Now what the score is hear is this finished
As we enter the I cloud on Friday,it might be worth reflecting on the Assocham-Techsci research report which predicts growth in the Indian consumer goods from 49 billion dollars to 104 billion in 2020.100 per cent growth in 3.5 years. Should Giles go ahead with a deal here ,then there is only one way this is going !
He has followed Giles Clarke and related companies for a long time and has a lot of info.
There is very good information at Mike Walters site on Sovereign Mines which may help get a perspective
Fortitude - my phrasing was wrong. What I meant to say was that after so long, it will be good for SMA to have a decent business. I have no doubt that GC will make SMA successful with a retail/wholesale business, an area in which he has undoubted experience and I am excited at the prospect. Certainly, I shall be holding on to my investment here.
Saintpeter7. Why would G.C not manage something decent ? All his companies to date are potential multi baggers,why not this one ! As I have said before, I am very pleased he seems to have left Africa's mining behind him.Mining is far too slow and uncertain. If indeed it is India and retail/wholesale he will be back in his comfort zone.G.C will not waste time on marginal businesses. Having a five year timescale similar to his other retail businesses and a 20 percent plus return ,this has to fit in better for this 63 year old entrepreneur.
Thanks Sarkozy. I do agree with you and Nomz that the Bod have not been very impressive these past 2 years or so. Am just praying that GC manages something worthwhile for once with this company. Certainly, the sector that they are aiming to go into is one which could prove extremely fast-growing and profitable, but hey let's wait and see.
I've spoken to two investors who would have bettered the Volcanic deal. Nobody was expecting them to give it away for so little. Like I said I don't think they tried too hard.
Hope this turns out well for you guys. I know that I've been critical-to say the least- but you've all been hugely patient despite what I believe was poor judgement on the part of the BoD pre and post Pearl
Difficult to sell a big stake
before suspension next Friday. IMHO we are now too close to avoid suspension and so pis take their choice. Sell now at a loss unless they acquired them in the first week in June or hold for the RTO to be finalised in the following six months with the very strong likelihood of a good percentage profit on relisting. Next week's trading will be interesting, particularly if the company announce that a deal is almost done but for the formalities. Let's hope!
Volcanic raised the money for drilling in a heartbeat. I don't think SMA tried too hard.
Problem was finding a JV partner back in 2016, but yes, it is a shame that they couldn't. I don't know what SMA will do with its interest in Volcanic when it RTO's. Will they sell it for the cash or keep it as an investment? I suppose the former is the most logical.
Great set of results from drilling at Mandiana. Why SMA couldn't do this themselves I do not know... https://www.volgold.com/news/2017/volcanics-drilling-at-the-mandiana-project-guinea-intersects-broad-mineralized-intervals/
Very interesting that Michinoko is shown as the largest shareholder of Amerisur as well. So assuming that information is up to date, I wonder whether GC has an interest in Michinoko. Re inspecting the register, I realise that it would not show who owns Michinoko, but because of what was shown on Sarkozy's link, I wondered whether it still existed and therefore would not show on the register at all. Look forward to hearing anything further you might discover.
Thanks for your responses, the reason I asked is because Giles is also Chair of Amerisur and Michenko has found it's way on to the share register as the biggest shareholder. As it is also one of the biggest here as well, I was looking for a name of who is behind it and specifically if Giles has any link that is of interest - perhaps they have invested in other ventures together. It maybe simply that Michinoko like Giles's approach/respect him and look to invest where he in involved. Clearly Michinoko is another venture where the owner does not want to be known - however I like to know all releationships in case they are working in concert and maybe have plans. I'm not suggesting Michinoko /Giles are up to anything other than being 100% behind the company's they're involved in. saintpeter7- I'd be amazed if the register of members identified the owner of Michinoko (the named leaded lead is usually a proxy) - "Of course inspection of the company's register of members at the registered office would answer the question, but I do not have the time to visit Cardiff. Any poster leave nearby? " If I find anything of interest here I will let you know. Thanks again
If the Indian deal fails I have an alternative
So supposedly struck off 31 October 2016 according to that source. I had looked at that link before and it appears that all the linked companies have been dissolved or I could not trace them. According to 4-traders.com, Michinoko owned 15.5% of SMA. Those shares will be owned by someone else and I have not being able to find out who SMA's shareholders are, other than that at 31 December 2016 per the annual accounts, the directors (including one former director) owned 28.55% of the issued share capital. Of course inspection of the company's register of members at the registered office would answer the question, but I do not have the time to visit Cardiff. Any poster leave nearby? On 4 July, the company resolved to allot shares, or grant rights to subscribe for or to convert any security into shares in the company of up to an aggregate nominal amount of £3m. That enables the company to issue up to that amount for the planned RTO. Looking at the company's net assets, as well as the cash it currently holds, which may be in the region of £300K to £350K, it has the investment in Volcanic Gold Mines, worth currently in the region of £610K. It also has deferred tax assets of at least £731,972 (per the 2016 Accounts), which means that, subject to the tax legislation at the time, once the company is profitable, they will be able to defer that amount of company tax, before paying any. Not long to go now before possible suspension! Decision time for many investors soon whether or not to hold into suspension based on the possible Indian deal coming off. I will hold; having held since purchasing originally in the 0.80s, not much point in giving up at this stage. I am intrigued Sarkozy as to whether or not you hold shares in the company, but no doubt you may wish to keep that to yourself.
The relationship between Giles and Michinoko, if any?
.
Thanks poiu. I see we had another £10K purchase this morning. Someone has been buying decent size chunks in the past few weeks. Whether it is flavio or not, who knows, but someone is either in the know or taking a calculated risk!
the post you refer to is still up on ADVFN, i believe it to be true