Member Info for bandit1

Thanks Samspade good find - so he decided not to issue an RNS for such an important corporate transaction which should have a positive impact on the share price. Am I the only one around here that is shaking their head in disbelief?

I must say that having just watched this brief interview I was also left a little surprised about the headline on the screen and comments about spinning off Zinnwald. I had a quick look at the last few updates and couldn’t find reference to this but I may have missed it as I have been focused on Sonora like everyone else, I suspect. It must have been referenced beforehand and I guess I missed it but lots of questions spring to mind obviously! If anyone attended the AGM and this was discussed as it is already in the public domain please let us all know. If it has never been communicated before now - oops! As an aside, I have never been that impressed with Seckers communication skills and given where we are ie. 25p I expected him to look a little battered and bruised but he seemed pretty relaxed to me, almost sanguine! Now, either he is good actor, or he is close to raising money or he doesn’t give a jot - what do others think?

I expect that Dunkerton will be working with advisers as he has made no secret about his desire to get back involved. A hostile takeover is highly unlikely as they are fairly rare for a reason which is that they are difficult to get right, often expensive and they take time. His best chance of getting back involved is by getting the institutional investors onside who, in turn will put pressure on the Board. The recent trading performance presents a real opportunity and one which Dunkerton probably didn’t expect as quickly as this. Sutherland is under pressure now so when Dunkerton is quoted as wanting to get back involved quickly it is because he knows that there is a window of opportunity now. I have no more knowledge than the next private investor but it seems pretty clear to me that there is considerable upside here despite the retail challenges. How many companies with such a strong brand and market position have no debt, are paying a handsome dividend and have dropped from £20 to £4 in no time? Oh and Investors Chronic have them as a sell and we all know they are always late to arrive at the party when the champagne has been drunk and the good looking girls or boys for that matter have left.......!

Woodstock - in my experience Berenberg are close to clueless and make one bad call after another and they can now add TCG to their long list. My advice to you is to do your own research as most of these organizations make calls based on specific positions they or their clients have which may not correlate with a long or short position which you or I may have,

We could speculate all day long as to why Blackrock decided at this point in time to sell at this lowly price. An optimistic may want to believe that it was all about end of year portfolio management for tax purposes, A pessimist may want to believe that they got fed up waiting for strategic investors to appear or that Blackrock have decided that the potential growth of EV has been overbaked etc. not sure we’ll ever find out but as Mullins alluded to the shares are now in the hands of others. It would be appreciated if anyone in attendance at the AGM is able to pen a brief summary of the key discussion points ie. reaction to KM comments, strategic investor talks accepting of course that they may say any more than that which is in the statement. - nuanced opinion welcome too!,

Following his 5.5m share sale over the summer and the placing his personal holding is DOWN £137m! Of course no-one will shed a tear for the ex-founder as he raised £70m from that sale @ almost 1300p but I suspect that his resolve to get back involved here and to see its fortunes returned somewhat will be quite strong, at least that’s what I believe. Those involved in that placing will not be very happy as they are staring at a loss of almost £50m if they kept a hold of them and thus there will be pressure to do something from a number of parties.

One of the great things to come from the geopolitical turmoil around at the moment is that the market always overreacts and people panic. I have bought more shares over the last week than I have over the last 6 months and I am delighted to get in here at a steal. I have an 800p target price and expect to achieve this in 12-18 months. This is a strong business with an excellent brand, decent yield and I expect a change in management at some point which will encourage new investors.

Why would the company put forward resolutions when they would be fully aware that their major shareholder would vote it down? Makes no sense to me at all.

Addicknt - yes it is frustrating but as I said the other day on here the level of regulation on AIM as you know is almost non-existent which is why it attracts all sorts keen to exploit the opportunities that exist as a consequence. In most walks of life regulators struggle as the top talent choose to work within the industry itself rather than trying to police the industry. In the world of financial markets this appears even more stark given the rewards available which makes it even harder for those on the right side to make money but we will keep at it. I expect to see an RNS later today.

No I doubt that this one trade is buying on insider knowledge Mariesamsam. From my experience you are more likely to see a much larger number of insiders as they know that AIM has almost no regulation so they can happily trade with no risk of sanction. I suspect that someone is quite pleased to buy at this level despite the negative sentiment as they can see the potential upside opportunity early next year.

Acute - I think your comment about the KDNC CEO’s pompous comments will show most on here that you are the amateur. We all know that the companies and CEO’s have been close in the past and it is fair to assume that large shareholders often have more information at their disposal that smaller holders and there is no doubt that he knew this would have a negative impact on BCN. It makes me very suspicious about the purchases after the price drop but I doubt if the regulators will even bother to look but that is a sad indictment about AIM! A dumb statement about potential fund raising and worst still referencing a potential price to give his statement more kudos is entirely off piste for most professionals as they will know that their credibility will be shot to pieces, which indeed it is, just as your own with that juvenile comment.

So, taking a whole day to release a few lines rebutting what was as a farcical and damaging statement does not fill me full of confidence that our lot has their finger on the pulse. I cannot attend the AGM and usually don’t as they are often a waste of time but almost worth going this week, after all it is pantomime season!

Jockstrap - you may be working in a team or you may be working alone who knows but do you seriously think that you will be taken seriously by anyone on here? Rhetorical question I don’t want a reply! You have identified an opportunity here to make some money but you have come to the party later than most so you wish to throw some stones in the pond to make some ripples to help your cause. From many years experience the best thing to do with sad people like you is to filter which I have done. NO more.

Addicknt - have never invested in KDNC and having listened to the webinar today I would never invest in that company. My sense from the ramblings of the CEO and having looked at his CV is that he will struggle to attract future investment. My advice to him, for what it is worth which is not a lot, is to stick to the facts, keep the shareholder comms short, punchy and regular but avoid egocentric verbosity and above all else don’t make amateur statements which have the effect of trashing one of your investments. If we had regulators he would receive a knock on the door but we don’t so he won’t!

Kluck17 - it looks like KDNC could have been the seller but logic suggests that their CEO would not be so stupid to say what he did today whilst selling a big chunk at 25p. Time will tell but you are right that whoever bought this stake is who we should be more interested in if indeed it was bought by a single buyer and not broken down into small lots. Hope they announce tomorrow.

MrC - that is my point.

I am frankly astonished that a major shareholder can make such a shameful statement breaking many rules in the process which has the effect of taking a chunk out of the share price without even a word from Secker. Underlines the concerns I have about him as a CEO. One assumes that Citi’s appointment was an attempt to avoid diluting at such a level so if that assumption is so why not say something?

Very positive news. So, major Chrome plant hopefully to followed by a major zinc plant in Zambia. The modest dilution here is acceptable and this will test whether the market can see through the 2.5p dilution price and look at potential value which is what they should be doing. I expect this to be received well today.

Seer - not sure that the market will race upwards on Article 50 being canned as more than half of those who expressed a view on the referendum will have something to say about that and indeed MP’s represent the public and will have decided that they know better - that is not how a democracy works and could encourage serious public backlash worse than we are seeing in France at the moment. The UK market has been discounting the fallout from Brexit all year hence why the UK markets are one of the cheapest in the developed world. For my part I want us to exit ASAP and that will help sterling which in turn will help TCG. This share and many other U.K. listed shares are bargains at the moment and I am starting to buy across the board but at modest levels until we see what happens over the next few weeks.

Mazik - Indeed there were positive statements in that RNS but the bit that spooked me and probably some others was “ The Board is working with advisers to look at options to deliver the optimum capital structure for the business to support its long term, sustainable development. This process includes options to bring new capital into the business AND as previously announced progressing the disposal of non-core businesses”. I have emphasized the AND as that suggested to me that selling non-core assets on its own may not be enough and therefore my concern about ordinary shareholders being diluted. The few institutions here may be bond holders with some protection as others have said. The FT may have people on the inside as they allude to but these days with so much collusion between hedge funds and journalists I tend to trust no-one in the markets these days and try my best to manage the downside risk in tough situations like this. Good luck all and I do hope that these journalists are wide of the mark here as employees deserve better.