Member Info for Broomfielder

over the weekend finally breaking into the public arena will certainly not do the wider sector any good at all.
Once the popular press get going with some more lurid headlines, we can expect further calls to nationalise NatWest etc for starters.
At least, thats not going to happen as the Gov have got more than a few other priorities to deal with first.
As always, a 'long/very long' view should be taken by investors in banks.

I posted earlier that yesterday and todays falls in SP showed signs of artificiality and ahead of GDXJs aquisition coukd give rise to a disorderly market.
Well, I think we have now had one.
Like any holders, I am happy with the outcome in terms of Closing SP but what a way to run a business!

I guess it will be next week before we establish if GDXJ have in fact acquired their stated weighting in Ggp shares despite there being some evidence of front running this week (no guarantee the chunky purchases are indeed GDXJ).
However, yesterday and today's fall (thus far) in SP seems much more attributable to manipulation than it does to any extensive selling.
With the apparent liklihood GDXJ have still to fill all or a significant part of their requirements, the drop in SP looks more and more artificial.
I always expect MMs to tinker around the edges of prices, playing with spreads and bid almost continually, but unless they can prove the SP drop is genuinely market demand driven, could yesterday and today be evidence of the creation of a disorderly market?
It would certainly look that way, if GDXJ save themselves a lot of cash as a consequence of the price drop.

...who, not long ago, seemed to be the only ones of the opinion that the economic impact of Covid 19, the lockdown etc are now scrambling about for ideas that may suggest they actually know what they are talking about.
They are now (again) seriously considering the introduction of negative interest rates which really gets close to how desperate they now are.
If that ever came to pass, it may actually benefit the Banks but no doubt our equally clueless Gov will have forced through Interest free lending on the Banks by that time.

as it flirts with its Nominal Value.
Seriously embarrassing but could have serious implications for Capital raising if needed albeit noone is suggesting they do at the moment.
No doubt we will get someone posting how much improved their various Tiers of Capital have improved since the 'bad old days'.
Whilst Covid 19 caught everyone by surprise, its been yet another hammer blow to this Bank's long suffering investors.
Of short term benefit at least, would be yet another U-turn by this Gov on the reinstatement of Divs. Perhaps just in time for a hike in taxation of investment income etc.

Unfortunately much as expected. Yes, we had dared to hope but I guess there is no ducking reality.
The acid test, for me anyway, is the outcome of EdS' tariff, and here the RNS does sound the correct cautionary note.
The pricing will almost certainly be revised lower. Its already now to be paid in Argentinian pesos which is a whole lot worse that the previous USD arrangement.
Added to that are the Exchange controls restricting Capital outflows which currently penalise overseas payments to the extent of 40%. That may or may not increase no doubt depending on the eventual outcome of the IMF negotiations.
And that will undoubtedly impact on the Argentinian currency which will have implications for Rur etc.
I note that some posts today made mention of Rur's Net Profit. Largely fortuitous and based solely on the Forex machinations as we have no trading income.
The NAV is another area. Whether the SP trades at a discount etc doesn't mean much when you cant sell any of the assets. This has been the case for a number of years and whether or not our Bod are breaking their backs to market these, the assets availability will be well know in such a specialised market.
So, for me, a slight glimmer of hope we may get a modest distribution provided some form of repayment by Patagonia / EdS is maintained in the future and we should shortly find out our fate here.
Thats about as good as it gets unless the long awaited white knight finally makes an appearance.........

I may not be anywhere close to the shareholdings of the surprisingly many'millionaires in waiting' that populate this bb (and all the best to them), but this share is restoring or creating wealth at all sorts of levels.
Best therapy possible for today's stressful times.

I think our Bod take being obtuse to an art form with this latest 'economical with the facts' statement.
Communication is surely easier than this.
The latest sums received from Patagonia etc is 'additional' to that previously announced.
What then does that make our current cash position given previous sums received?
Also, get the Interim statement out. Why is there a delay?
Tell us what the monthly cash burn is net of the current Overheads in order that shareholders can prepare to evaluate the impact (on Patagonia/EdS) of any change to the Tariff expected this month when the previous electricity pricing agreement expires.
Our worst fears are that the Tariff is reduced to an extent that it may prevent any further repayment of the monies due to Rur. Its fairly significant as you would think that our Bod would have a Duty of Care to shareholders?
No, don't answer that.

Hi Bridges.
I do recall that statement, so, even from the most pessimistic standpoint, we should have around 7-8 months adequate cash in front of us.
Thinking it through (and we have to surmise no creditors are pressing etc given his latest RNS quote), a bit more reassuring and of course we should finally be in a different landscape by then etc.
Cheers.
B

The Net Current deficit is concerning and whilst '....being fully funded for ongoing activities' is meant to reassure, there is no mention of a 12 month time horizon that I see.
Clon could well have reached some form of agreement with their short term Creditors which could see them defer until after the year end, but that would be speculation.
For what its worth, I agree that a placing will feature but I think the plan will be after the Ratification decision comes through. Clearly, I am not privvy to just how long their current (ie today's) cash will last -v- their monthly burn etc.
Just my thoughts and hope not to offend any better informed investors.

My intention was to post a cautionary note about the volatility that I think we can take for granted will happen tomorrow. Irrespective of whether you intend to buy or sell, not to jump in too soon etc.
However, after a beer and a couple of glasses of wine at dinner, I find I have actually raided the piggy bank (again), and have funds transferred to my online trading account, after spending the last hour or so reading this bb.
Haven't felt this excited of an evening since I believed in Santa Clause.

'Who's planning to buy next week'?
Answer - EVERYBODY

Like everyone else, much as I want tonight's news to be true, as DrR says, it leaves the door wide open for a disorderly market given the amount of shares to be acquired.
It really means everyone and his pet dog should now mortgage their houses and plough the proceeds into GGP shares in the knowledge there is a huge unfulfilled order on the horizon which will ensure the sp increases further.
Surely this seems a bit too good to be true (unfortunately).

Many years ago when investment in 'penny shares' was being widely marketed, these adverts usually showed a graph of some unknown Co starting at a fraction of a penny and a year or so later was apparently worth more than £1 per share just illustrate how easy (!) it was to become a millionaire.
I never really believed it possible either because such Cos didn't really exist, or, most people would bail out long before its SP reached its peak fearful of losing their profits in a high risk share.
Well, after 40 years or so I've finally found it. Yes, its called GGP and maybe its not even that high a risk..
Only problem is I am not one of the lucky (aka very smart) investors on this bb who have achieved this objective. Superb everyone.

I am a wee bit surprised by how many Scots participate in this bb judging by some of the comments this evening; so much so, it appears we might soon have to try and emulate Tigg's bash North of the Border.
Anyway, apologies for being a bit 'off topic' on such an exciting night.
GLA no matter what part of the world you may hail from.

dsmith57 - spot on.
Given the demise of the old ground was back in 1994, I am guessing you must at least hark from that era.

Re: 'Short sighted' if you sell etc.
I am short sighted but I haven't sold (any). So what does that make me?

Bbr - clearly, I missed that one!
I presume you mean one of the shareholder camps invested in Sterling (rather than the Co in Admin about to be in Liquidation)? Even so, I am not aware of anything on that score.

Whilst I am most certainly not in this category (and hats off to all that are), GGP has brought a welcome stability to my small AIM portfolio.
In fact, over recent months it has also brought a lot of positivity back to my investment and research driven approach and made opening up the next days news altogether more encouraging.
So, certainly not life changing in my case, but GGP has thus far proved to me, at least, to be most uplifting. Thank you.
I just wish I hadn't be so put off (with GGP) and I sold out all those years back when they were so intent on filling Ernest Giles full of holes for what seemed little benefit........if you know what I mean.
You live and (hopefully) learn as they say.

Within the next 10 days or so, we should see the Interim figures released and whilst these may be less than awe inspiring, they should be better than previous periods/years.
A key factor will be our cash position now that EdS via Patagonia are repaying the I/Co loans. What we don't know are the extent of outgoings etc. and the resulting 'net' position.
And, dare I say it, we might just get a more expansive comment on other matters.......but, there again, perhaps not.
If the news is good, we should certainly see some positive reaction in the SP although IMO we are perhaps unlikely to see a reprise of prices witnessed a couple of weeks ago.