The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Need news here soon
Thought there was something brewing?
GOI JV approval will be forthcoming, just not until after the elections imo. In the meantime folks will continue to trade this for a few quid....
Will the previous resistance a month back now turn to support? Some buying going on around the 0.125p area...Cheer up DVH you can buy in and trade from here...
Must be some more delayed buys in the system, cannot get a quote to buy 1m now....
Going on 15.01 & 04 trade 7M is a buy.
Overall crap day.
Let's hope on something positive tomorrow.
Holding on n to 12’s but disappointed with no news , thought we’d get it this week with tweet a few days ago . Oh well nothing we can do but wait
"A matter of weeks"... Next time Roland can pull the other one! It's got bells on it :)
Did anyone believe the 'matter of weeks' statement from Roland?
I thought it would have been before the election, but now we will just have to see.
I think we should press Roland for an update RNS, for me SYN or Selan are being asked to do a few things before approval is given. Such as the electrical stuff SYN recently tweeted about. We are in the hands of the approvers and if they say jump, we just have to say how high until approved.
Emailing going in to Roland this morning. Three months instead of a matter of weeks, has shot him in the foot again.
Let's see if we build from here today or sink further.
Didn't really believe it would be under 3 months but one can wish... However, now I'm wondering if it could be a lot longer going on how long it took last time to get approval. It would be better for Roland to give an update on how approval is going and a new time line. Although, having said that, it would probably be totally pointless as no one would believe him anyway. I guess we just wait... Could be tomorrow, or Christmas.
Pleased I didn't top up and increase my average now.
Update - still awaiting Goi to get off it's backside and do an approval. Nothing anybody can do except keep badgering them. Not sure what else anyone can say or do
I think most of us believed it sausage. In spite of his previous abysmal record on virtually every time scale he had ever given he seemed so adamant , with " a formality " and " a matter of weeks, that I, for one believed he must know for sure this time. Should have known better I suppose. There is now a massive credibility gap hence the sp.
Still have no idea why GOI requested SYN to open up the old zones for the testing. I wonder if that has been dealt with yet.
Ssccss. I would think reinstating the plug might be one of the three planned workovers.
Would make sense Gordon.
It's possible that most people WANTED to believe Roland in the same way that we don't want to believe that someone we trust has done something wrong, but deep down many of us knew what was coming (or not). Roland can set and miss all his so called deadlines safe in the knowledge that a) he will still be paid and b) there' nothing we can do.
At close think the @sk was showing, as 0.125. As it is now showing as 0.13 from start then the 0.123 & 4 trades are likely buys.
Not sure but is it the MM's who set the @sk & bid level?
He can't really win, if he didn't give a timeline everyone would be moaning and asking for a timeline guidance, if he does give one then if it misses he gets lambasted.
This is out of his control, there are no set timeframes to work with and this is India, just be patient as each day passes we must be getting a day closer to the approval.
On the Approval, it was my understanding that it was to approve the JV partnership, so not sure how much detail will go into the workings of the field.
Of course he should give an estimated time line. The concern is that he seems to consistently seems incapable of being anywhere near correct.
If he had stuck to his original estimate of 3 to 6 months we would only now be saying that it might be as soon as the next few weeks. The very fact that he changed that to a matter of weeks raised people's expectations.
If it is out of his control, and I agree it largely is, he should make that clear rather than exuding misplaced confidence.
It's not as if it's a one off. It's been consistently for the three years of his tenure. Also not only things in the control of the GOI. Securing a jv was supposed to take 3 months. It took 16 months.
Exactly Gordon. I wasn't actually joking about the possibility of JV approval at Christmas!
Whilst he can't win, he could fail a bit more graciously.
Why did he say a matter of weeks, when he knows what India is like in terms of administration and approval.
He should have said 3 months and if it came in early that was a bonus, but the market needs an update on what is going on and why the perceived delay based on Roland's own statement about 'a matter of weeks'. I know there is no delay as he hasn't stated a specific date, but there is a perceived delay based on what he has stated publicly in an interview.