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In 2008 Gold first declined 32%, after which it rallied 180%
and Silver are dropping today. This is not a strange phenomenon, it is historically the case as during times of extreme panic in financial markets safety is sought first and foremost in cash, especially USD with its dollar hegemony as the world reserve currency, for as long as that lasts ! Which may not be an awful lot longer with the Fed printing presses counterfeiting fiat trash for the Bank Repo market which has now incredibly been extended to VC's and other reckless deplorables.
Gold will rally as a safe haven asset but don't be surprised if it falls with all other assets in the short term. This could easily be far and a way bigger crash than the 2008 crisis which QE1, QE2 and now QE3 (bank repo) has barely papered over. Delinquency rates on everything from car loans to credit card and store debt is going exponential and the corporate debt bubble has reached the same level now and even perhaps surpassed sub prime mortgage levels of '08. Another worrying stat out of the US yesterday was CEO resignations and departures in the last 6 months has doubled reaching record highs. The question is What do they know that we don't ?
I hope nobody is poorly positioned or over exposed as these markets could become a long term trend and not just a blip and then recovery, don't forget we have been in a bull market for the last 40 years and nothing goes up for ever.
Being in cash is never a bad thing in uncertain times. None of this applies to this share but I guess everyone hear also holds other companies shares so worth considering your positions IMHO.
I feel that the only hope is that the "liquidity event" spoken of will be a capital realisation from our interests in Railsbank/Starling and that CP will be honest enough to pay shareholders a special dividend with these funds, although I wouldn't hold my breath. Does seem to me like the only hope left for us maligned shareholders though.
I would love to know what the asset value of the holdings are but I see there are no recent company results available.....surprise, surprise !!
Revolut have just posted news that they have successfully raised $500 million in a funding round led by TCV an early investor in Facebook and Netflix - and also attracted backing from Ribbit Capital, DST Global, Lakestar and GP Bullhound. It means Revolut's valuation has seen a threefold increase from when it was last valued by investors at $1.8 billion in April 2018 to now value Revolut at $5.5 billion. Revolut's popularity stems from allowing customers to spend overseas without fees, crypto and stock trading and more recently savings products with more loan service facilities to come and a UK banking license approval expected soon. It now has over 10 million users and is tied with Klarna as the most valuable fintech start up in Europe. It's smaller competitors include Monzo and Starling as well as German rival N26.
This goes to prove that there is an abundance of VC money out there for the right fintech offering. CP can't even raise a few million from VC's for advertising and listing. Tally is a busted nut.
Only glimmer of hope is that we part own Railsbank and I believe that they have a holding in Starling Bank which is absolutely flying. Tally as a proposition has already been surpassed and drowned out due to management incompetence and ineptitude. However the holdings in Railsbank and Starling Bank hold a glimmer of hope.
BA - Tally (coin/token) is meant to represent gold is it not ? and that gold is held in vaults according to the website blurb. So the question is where is the audit and proof of reserve ?
All deposits should be held as reserves, hence the assertion that for every Tally there is a gramme of gold held.
if there is any gold to correlate to the issuance of Tally then there should be an audit.
Why do you think this is not an issue ??
This conversation about Tally being used by savers and spenders seems to be illogical when everyone is ignoring the huge elephant in the room The Physical Gold !!
Where is the physical gold ?
When was the gold stock audited ?
Is there any gold attached to Tally ?
With NO PROOF of RESERVES then Tally is just another fiat currency !!
How do we know that Tally own NO gold whatsoever but is just arbitraging the customers fiat deposits against expected future growth based on the story being spun. I'm no expert on exchange listings but I'd bet a penny to a pound that the bar for compliance on proof of reserves for financial companies is a huge prohibitive hurdle to relisting.
Bernie Madoff pulled off his ponzi scheme for years and years until he was finally made to face proof of reserves and had to admit there were none. He went to the trouble to produce corrupt audits. Madoff was a former non-exec Chairman of NASDAQ and went unchallenged for decades. Before the aggressive retorts rain down just one last question Why would the company NOT want to provide an audit and proof of reserves ? if your answer is "company sensitive information" or similar then one last thing to consider - this was Madoff's stock answer !!
Desperately trying to re-pump the sp after falling for the p&d the other day.
Do none of you bother to research one bit ?
From the annual report just yesterday - "the Company will need to raise further funds in the next 12 months to continue as a going concern."
CONTINUE AS A GOING CONCERN !!!
**tradeable asset** not traceable, although all transactions are now of course under surveillance.
Keynsian banking system relies on everyone taking on more and more debt so that the money supply can be endlessly inflated and keep the counterfeit printing presses going at full tilt. The only banking businesses that can succeed are those that can encourage more debt and Tally will need to add a Tally backed loans facility if they really want to succeed, perhaps this should be raised with CP in the discussion, I'm sure it's already under consideration.
Of huge concern for Tally should be the news yesterday from Coinbase and Visa that announced the expansion of the Coinbase/Visa card that will see mass adoption of the card in retailers allowing all retailers to accept the Coinbase card as payment and receive fiat denominated in their native currency or any crypto supported by the card. The payer will be able to make the payment in any crypto or currency held in their account ie. Bitcoin, Ethereum, Tezos, Orchid etc or GBP, Yen, Renminbi, USD etc.etc.
Payment is instantaneous so NO currency risk.
The card and account also have loan facilities attached. It will be easy for Coinbase/Visa to add Gold, Silver, Copper, Oil or any other traceable asset as and so they wish.
This is the level of competition Tally now faces due to its dithering and procrastinations.
Perhaps the most poignant question should be have we successfully raised funds ? and if not how is the company continuing to stay solvent, and for how much longer ?? as revenue from the Tally app I would presume is pitiful, if not so then why are the company not shouting about the "success" from the rooftops. I said this over a year ago to much derision IF Tally do relist then it will not be before 2021, if the company remains solvent for that long and we do relist dilution will be unfathomable in my humble opinion.
All well and good having these virtual Q&A sessions but there has been NO general meeting for shareholders since long before suspension and expulsion. To my mind all the delays point to the evidential fact that this project is well beyond the capabilities of the incumbent BoD. At this stage surely the most logical solution would be to sell the platform for whatever we can get for it and sell all mining associated interests too. Return funds to shareholders and we all get something back of our investments. CP then concentrates on his other business interests and RH can concentrate on gifting that awful book to Guy Falkes collections.
The issue of of "transaction not authorised' is down to one of two things. 1) card holder has insufficient funds OR 2) The card issuance company has insufficient funds. The latter is incredibly concerning. Extreme caution should be taken with just how much funds are held with Tally in my opinion. Losing all your investment in your shareholding is bad enough but compounding that further with loss of account funds is catastrophic.
Read CP's reply and just a point I would highlight is that yes CP was a director at Coinsilium but by a huge coincident he resigned just days after Lionsgold was suspended (pre-expulsion). Jumped/Pushed make your own conclusions.
I know initially when this pile of ****e was listed before CP ****ed it all up and hey presto we are de-listed and all locked out of our investment, that he and his family fund were invested too. However I would hazard a guess that as we are now approaching 2 years de-listed and with CP still creaming off £175,000 each and every year (as a basic) that he has recouped all his investment (faux or otherwise) and then some and has no skin in the game whatsoever. When this inevitably gets wound up it will be telling where the intellectual property goes. RH as I understand it is the proprietor of the Tally app isn't he and not Tally Money ????
Lionsgold shareholders have been desperately let down by CP et al and also terribly let down by the regulators. Remember that the shares were suspended from trading under Rule 14 which is there to PROTECT shareholders !! What an effing joke.
b1gdeano, you may be on to something -
'Mr Cameron John Parry holds 4 appointments at 4 active companies, has resigned from 6 companies and held 4 appointments at 4 dissolved companies. Their longest current appointment spans 2 years, 9 months and 9 days at FIRST EQUITY HOLDINGS LIMITED'
"run 4 businesses and 10,000,000 shares" ;-)
Well said JonnyE.
Shame that the likes of TopPrize is preaching an authoritarian doctrine of denial of free speech and inane human rights. Presumably TopPrize is a grand supporter of the Chinese and their treatment of the Uighurs and Hong Kong protesters.
Free speech is a god given right, if you don't like or agree with what somebody says then it's your right to completely ignore it, but to suffocate open debate is shameful.
-'The suspension has been applied under Rule 14 of the AIM Rules for Companies ("Rule 14")'-
Rule 14 is set out below.
'Therefore, AIM Rule 14 aims to provide a degree of protection for the AIM company's shareholders to ensure that they and the London Stock Exchange plc (Exchange) have an opportunity to consider the material acquisition and/or the potential fundamental change in the nature of the AIM company's business from the business that the shareholders originally chose to invest in. AIM Rule 14 also seeks to prevent the use of the reverse takeover regime as a "back-door" admission route for entities that would not otherwise be eligible for admission to AIM.
Requirements of AIM Rule 14
*Any agreement that would effect a reverse takeover under AIM Rule 14 must be:
Conditional on the consent of the shareholders of the AIM company being given in general meeting.'
Shareholders have never been given option of consent at a general meeting on TRAC t/o that would hence comply with Rule 14. One could therefore presume that No Admission would be acceptable until the condition has been complied with.
We could have had a general meeting and voted and been re-admitted way back in 2018 without any fuss. Rule 14 is there to give protection to shareholders the fact that the company has obviated it is more than concerning all this time after the fact.
I'm sure one of the other bright posters on here will be able to post the correct formula but I can't remember or find it, but this here (LION de-listing and [delay] missed re-list) is a classic case of the Delay Multiplier Effect or Delay Propogation Multiplier. For those of you who are not familiar it is a well proven theory on Delay and its causal nexus. ie. for a delay of 1 day that is missed there will be a further 2 day delay [which will be missed] causing a further delay of 4 days [which will be missed] causing a further delay of 6.4 days (sorry can't remember exact figure but believe this to be accurate) [which will be missed] and further onwards with increasing certainty.
And the formulae has incremental delays. The proven thesis is that once the initial delay is missed there is an ever increasing multiplier effect of the original deadline event ever being actioned.
LION "short suspension, will return 3-4 months" - 11 May 2018