Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
In that respect Sue - we are truly in the same casket.
I only hope that for as long as this stays alive most of us can at least remain civil to each other *thumbs up emoji needed*.
You will note the contributions of MB10, Shujja etc.
I agree Simple - I was trying (for once) to be generous.
The accounts for 2021 were awful and 2022 won't be any better, but we all expect that now we've been suspended.
2023 could be terminal now we've gone into debt with the devil.
I think about that "brokers note" - what a mindjob.
The issue Hughes is that he IS the company.
He is the biggest shareholder so he has control, he's also the boss - but his wealth doesn't come from share price like us, it comes from his annual fees and expenses.
If you look on companies house you can see this company has renamed and morphed many times - it can do so again if DC has arranged it. Remember he has a claim for the purchase of StartART unfulfilled at present.
The financial rules allow for all kinds of wriggle room inside the legal boundary and there's nothing any of us can do about it. The idea we could stop him or "call him to account" is fiction.
EXCEPT - make sure no other suckers fall for it again, which is why I'll fight the rampers forever.
Acceptance is horrible. This medicine tastes foul Sue. Here's the reality (hard to swallow but we all need to).
Where are we now? In truth we are all speculating, which is why formal comms via RNS is so important.
What I do know is that when a company has to borrow at junk rates (or worse) to fund the day job and then can't even deliver that, then that's a company in deep trouble.
The last financial results show that bricklive and all other divisions lost money, other than FLEX which returned a minor profit of £83k. Central admin saw to that and the rest besides, so the loss was over £1M.
There is NO indication Bricklive has done any better, we have no detail on the big outlay for StartART, we have no figures for the South Africa formula E and worse of all we know we blew the O2 (again). Needless to say the central overheads include DC's pot of gravy.
There's only so far this can go without credible cashflow - this means further punitive loans, mass dilution or we're cooked.
Sue,
Just to explain - I've lost a great deal here too. My holding was over £70k at peak and I am particularly hurt I could have exited if I had realised 11p was the summit - that's my mistake, but you were around in those days so you know I speak the truth.
There were some (who delete posts if you name them) who said this should be 20p minimum and sucked many here into staying. Even 2 months ago they peddled home spun maths and many (sorry but you included) backed them.
I can't play the reconciliation game with them - for me they are as much to blame as me or anyone for this mess I find myself in.
I absolutely hate this company and its leadership for their folly.
i want a relist so i can take my chances too, but i can't accept "insiders" ramping this to all and sundry, then getting a quick exit by the back door
it's called insult to injury.
i don't see you in that category of course, or most on here. i just can't forgive or forget some of the *** packet fantasy on here. sorry.
Sue,
I appreciate the message we should be respectful to each other, some of us on both sides of "optimism/pessimism" have tried, but it doesn't just apply today - it should have applied over the last year.
The likes of MB10 have been aggressive and insulting to those who have tried to relay the reality, until it's too hard to ignore.
Now is the time for the evangelical rampers to apologise to those they label "non-believers" or leave here so the rest of us can get our heads together.
I don't trust some of the SH's you describe as being on the inside - I wonder what their next trick is? Get DC to slip a relist date so they can sell faster than the rest of us? Sounds horrible but it's how this game works.
Why have you posted this in the small hours?
This refers to the inexcusably late confirmation statement at the start of September. What it shows is that LVCG admin is so bad that compulsory strike off was initiated until somebody got the statement in so the strike off was discontinued.
This bears no relation to the very, very late accounts or the companies latest financial mess.
"Just heard back from Sarah again, they’re planning on relisting very soon"
The ultimate fob off. What does that mean as we are 80+ days late with the accounts now.
Right up there with MB10 with his famous "within a week, anybody saying otherwise is just scaremongering" posted on August 30th....
I treat any second hand posts with disdain and so should all right minded posters here. Been said before but clearly needs saying again: there is NO POINT quoting conversations over the phone - they reveal nothing.
My mate Bob spoke to his pal Mick who rang Sarah and after she spoke to Dave she said everything is OK, so no need for any panic....
I concur.
The risk for me is that this gets unsuspended - there may be some who get in quick and sell before a big drop bites, then DC steps in on a massive scale at a knockdown price in the range you suggest.
Nothing illegal being done, but disastrous for us LTH's who remain firmly at the back of the queue when it comes to any kind of respect or return - unable to escape since the suspension occurred before the loan and the O2 cancellation etc.
We do need an update Sue.
But ringing DC/LVCG isn't going to help - we need some official RNS, not second hand guff from somebody who has failed us repeatedly (and legally can't give anybody a revelation over the phone anyway).
I don't agree with that assessment Truthbomb. Here's my take:
DC is fine cash wise - he sucked all the remaining working capital out of LVCG for "Startart".
He's not in the foodbank queue, he probably couldn't find it in Monaco anyway.
The reality is he'll still be fine moving forward - it's more a case of how he keeps his cash cow alive as a going concern so he can place/raise/lend to keep the dream alive.
He made a mess of the O2, like he did with the O2 last year because he loves a project that excites the masses and keeps the image of LVCG up.
He trusts that investors will ignore the old maxim and swallow the hype - but for the benefit of those who have forgotten:
Revenue is vanity, profit is sanity, cash is king.
We're all in the same boat Knigel.
I can only speak for me but I said to you I had no issue with your views last week and nothing's changed - no apology needed as far as I can see.
Just a shame it's come to this. We now have to wait for the next RNS and the joys it brings. Peace.
goodness me.
after everything that you've posted - you pop back in with this?
"i suspect that the reason people are really disappointed with london being cancelled is because it would have propelled them well into profit this year and marked the start of the big turnaround everyone was hoping for"
no, we're furious. this has put the solvency of the company at risk, not just a recovery.
"i wouldn’t be surprised if the cancellation costs for london were about the same size as the madrid profits"
i wouldn't be surprised if you were bang 100% wrong, and most here think the same.
"we will have to wait and see what the costs incurred for london were, i predict they won’t be as big as some are saying, so that turnaround won’t look as good for this year now"
no - almost all of us realise we're making a fat loss and have no cashflow left. there's no turnaround story here
you didn't mention the broker's note - let us all know your views on that now.
your faithful crew are still here, giving you recommends in 5 seconds flat i see.
at least we all agree on dc.....
what you need to do is keep your head down - at least swallow your pride and apologise to the many on here you've insulted and offended when it turns out the pessimism wasn't trolling at all - we were sadly correct.
we don't want any more of your £millions *** packet maths thanks.
Inlikeflyn - nice thoughts!!
No posts from everyone's mate since the RNS was released, but any post with a certain posters name in it are systematically being deleted... which means he's still lurking about.