Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Have full faith in the board. Recent appointment on indian business partner aint no joke.
What appear to be two nice buys towards the end of the day. Good to see - perhaps buying ahead of news of the new venture.
Long time since we have seen SMA on the leader's board!
I'm not expecting a miracle. They rarely happen on AIM, but I invested in SMA five years or so ago, and the company showed real promise back then. It's irrelevant now given the new direction the company is heading in but we had the backing of the government, a large area of land sandwiched between two major gold producing areas,and the first JORC, while not spectacular, was certainly promising. 600,000 ounces of gold from 8% or so of the land. The geology of the land Volcanic are now exploring is as promising as ever, and there are millions of ounces of gold there, but, ultimately, SMA ran out of money. It coincided with the ebola epidemic. Some major gold producers were invited on site, possibly with a view to a joint venture, and they reported Mandiana would be a tier 2 operation, but everything ground to a halt when the epidemic struck. Forgive me if I'm wrong, but I can't help thinking you work for Volcanic as I can see no other reason why you would find yourself walking the ground there. It's a bit of an odd location to just wander into and report it on here. If you do or don't, it's nice to know the area is now being properly explored and the prospects of the concession will be realised.
There was the small matter of an Ebola crisis in Guinea that stalled them. I like the Mandiana project a lot (I've actually walked the ground there not so long ago) I'm positive about Volcanic, they have a good team and are exploring aggressively there at the minute. Quite why SMA couldn't get their act together to do this themselves I don't know, but Guinea is a good place to be at the minute and those who got in quickly after ebola will be rewarded
No,it says nothing about Indian food business. Just another wild exaggeration from Mr S,the deramper to end all deramping !
I must have missed something, where does it say Indian food business is in India?
As I have said before I have been in Giles Clarke companies since the early days of majestic wine ,Pet City,and Safestore. Every company of his has been a multi bagging concern with no failures. Giles Clarke may not have a large holding here but he has a reputation to uphold,he certainly won't waste time on non descript low returning ventures.With Rupert Frazer from Ironveld , I see him developing a business on the same lines,it always is .He has about six months to pull a rabbit out of the hat and I would almost certainly think he will have several business ideas to look at in view of the time scale. One things for sure , this is not for widows and orphans but that could apply to the whole AIM market.
As I have said before I have been in Giles Clarke companies since the early days of majestic wine ,Pet City,and Safestore. Every company of his has been a multi bagging concern with no failures. Giles Clarke may not have a large holding here but he has a reputation to uphold,he certainly won't waste time on non descript low returning ventures.With Rupert Frazer from Ironveld , I see him developing a business on the same lines,it always is .He has about six months to pull a rabbit out of the hat and I would almost certainly think he will have several business ideas to look at in view of the time scale. One things for sure , this is not for widows and orphans but that could apply to the whole AIM market.
Given that SMA is giving up on the mining sector there is no synergy between the shell and the RTO. Also Giles' stake here is tiny so expect massive dilution and a rebased lower share price ex-deal. There is no way to raise more cash at or near the current price. The remaining cash will be swallowed up by the costs of the RTO. The stake in VOL is next to worthless unless VOL can be transformed. Given the amount of time SMA dickered around with Mandiana that seems unlikely.
No . That makes three of us as I posted yesterday there's everything to play for here and the reason is simple Giles Clarke's track record ! This won't be quick but certainly faster than an African mining company. The silly season or sell in may and go away adage is not helping here. As I posted yesterday, patience is needed here and that seems to be in serious short supply on this board !
Well that makes two of us as I am a partner in a small accountancy practice. Currently investing to boost my pension fund!
I'm not at all phased by the change in direction. I'm an accountant by profession, and one thing I have learned over the years is that successful business people, within their sector of experience, and we have a very successful BOD on board, are very adept at recognising new opportunities as and when they arise. Like I wrote, I'm intrigued by our prospects, and as you say, progress for the company will certainly be more measurable than drilling holes in the ground.
Good post Damocles and recommended. One advantage that a growth company in the retail sector can have over one in the mining sector for the pi is that as with IDP, in which I have a stake, once growth starts the SP can be far more consistent in its rise with news more regularly than a company where you have to wait several months quite often for drilling news or the like and the SP falls as pis move to what they hope is the next good share. I do hold a few mining shares as you will see from my posting history an so I am quite interested in having another in the retail sector with SMA. Let's hope GC comes through; he certainly has a very good record of success.
A strange feeling of deja vu today reading the RNS. I'm invested in numerous mining companies, some doing well, others not, but one recently had a change of directors after the previous BOD resigned. The existing gold mining concessions are being sold off, and shares were recently suspended after the company announced an RTO with an online ladies clothing operation. It's quite a change in direction, but one that looks positive as we wait for the deal to be concluded. With regard to SMA, I have a large holding, and I am staying put. I'm not at all downhearted about the direction the company is heading in. The reason for that is quite simple. The calibre of the current BOD. They will take SMA forward and in a few years time, well, who knows what we will be as a company but it will be a success whatever it is. Given the track record of the BOD in the retail sector it shouldn't be a surprise to see SMA in that area. It is a surprise it's in India, but they will have seen an opportunity in an emerging economy that is well worth pursuing. There are no guarantees of course, but I'm intrigued at the moment about where we are going.
I'm very thankful that I did not re-invest after selling up a few weeks ago. Thanks to Sarkozy for his opinion which persuaded me to stay out, thanks also to Vienna - your opinion was always based more on hope than on hard facts which also helped me make my decision to keep my money elsewhere. I genuinely hope that this is not the end for SMA as some on here think, It's not something anybody should gloat about - people losing money. Good luck to everyone.
Looking forward to hearing about the chain of chapati shops that Giles has lined up. I guess he chose India as you can pick up businesses there for pennies-problem is they only make pennies. The reason for the MD being located in India is simply because he's already heading up the RTO that's going to swamp SMA's equity base. In answer to Vienna's vituperative post I'm not gloating. This was an accident waiting to happen. Vienna's role shouldn't be overlooked. I guess he gulled numerous innocent investors into the stock with his ludicrous musings.
Hi Vienna - been a good and a bad day - I have a decent holding of shares in IDP up 20% today and thankfully less in SMA, which of course went the other way. Looking at the current situation, on reflection the SP was too high as it gave the company an mcap of some £3.25m which gave a value IMHO over the cash held (which was no surprise), the value of the VG holding and the value of the AIM listing of about £1.25m. , a net £2m. Now the mcap is just over £2m, so in fact in my view, the selling has arguably been overdone as it often is. Yes there is a risk that no deal will be done in time, but the RNS does give reasonable hope that in the next 7 weeks, an RTO will be arranged. And if so, that is not priced in. Even if the share is suspended, the company does ultimately have a further 6 months after then to arrange something. In that the RNS refers to the Company intending to appoint a new CEO in due course who will complement the anticipated new direction of the Company and who it is planned will be based in India, IMHO they would not say that if they did not expect the Indian acquisition to take place. IMHO for anyone prepared to take the risk now, this could give them a decent profit if all goes to plan. I am keeping my holdings in SMA and may even add if the SP falls further. In GC I trust.
I thought you might have had the decency not to gloat at others misfortune. That surely says a lot about your character.Yes looks like I was completely wrong about things and I am truly sorry for the devastating blow that holders have taken. I can only think that the other place have had a too good to turn down offer for Zulu and we couldn't or wouldn't match it. I am truly gutted and hope genuine holders are ok after today's news. Myself and the others are at least decent people,not narcissistic,filthy mouthed little ******s like you. S7,Damocles,Caesar and others I apologize for my language. You truly are a worthless peice of doggy doo,I hope you enjoy your celebrations at others bad luck you absolute ****** of a human being,your family must be so proud! It's not over though but I'm afraid I've had enough of Codders and his like. I'm off to enjoy my retirement and my kids for a little while. You all take care,Codders you should really get a proper job and some real friends my dear. Take care folks xxxx
India-my ar*e. You were all warned. I told you to sell, repeatedly. The Bod is a complete shower. GC's reputation is on the floor. The current price still represents a wild overvaluation especially given the uncertainty of the value of the Vol Gold stake (which IMO has little or no value). You can still get out. Vienna-eat your hat mate!
RNS extract:'The Board is actively assessing acquisition opportunities and is in preliminary discussions to acquire a business operating in this sector. There can, at this time, be no guarantee that any acquisition will complete. Further announcements will be made in due course.'
Headless chickens this way , follow the herd. !!! Indian market looks potentially very good in an area Giles Clarke knows very well. I can see him building up a large multi bagging business ,if successfully found,in a very short space of time. Safe Store, Pet City and latterly Majestic Wine all made shed loads for Giles and his investors. Investors should remember patience is essential here. As for traders that's a different matter.
They have around £300k cash now and the market value of the shares in VG is worth around £800k.... however this wouldn't be the net realisable value of course, but note the price of VG has almost tripled since the acquisition. VG require equity to get it moving so I strongly believe its price won't hold, may it be wise for SMA to begin to offload some shares to preserve the current cash position?
Was right! This has been overvalued for quite some time, blind faith can be punishing
Yep you're quite right there, 0.1 would be a more representative SP and some may even say that is pushing it!