Member Info for CarpeDiem1

With a stated net asset value of 1.7p there is no real incentive foe this share to stay above 2p for long. Buyers and sellers are thin on the ground, but the downward trend remains clear for now and will remain in play for the next 6 months until the next update I guess.

Results out today, not particularly inspiring but steady progress on reducing the LOSSES.
Unfortunately the turnover is shrinking as collectors leave the hobby or pass away. Profitability has increased however with a turnover of £12m and profit of £6m being gobbled up by £6m of costs. It is hard to see where any significant money is to be made next year now that most cost cutting has taken place.
Are SG going to sell more (unlikely in a shrinking market), earn more profit on what they do sell (already doing this) or cut more costs (not much to cut and they are already taking about a shop refurb). I also note borrowing levels have increased.

I am not inspired by the figures although SG have done well to survive so far. I can see the possibility of a small profit in years to come but its unlikely shareholders will see any return for many years. A reported nav of 1.7p means the share price of 2.3p is too high and will fall. Maybe at 1.5p SGI will be worth another dabble for me.

I remain interested, but on the sidelines for now.

The spending caps seem to be off. I sold them something and received immediate payment, something I have never achieved previously.

I think you may be over egging this souffle Pearls. I doubt whether this will be life changing news for the company.

A takeover bid is being telegraphed as clear as day.

I fully support BoJo and I voted remain.
Just get on with it now and do all the other things that were promised. My business are suffering and that trumps any mild political leanings I may have.
On another matter, will LLOY stage a rally now that PPI is finished?

There is a discussion document The Future of Philately publ by abps.
Not sure if this link will work but you can google.
It states the value of the global philatelic market is £3 billion. SG just need one percent.

www.abps.org.uk › The_Futu...PDF
THE FUTURE OF PHILATELY AS SEEN IN 2018 - Association of British ...

Not much buying of shares at all. That 9.42 buy was mine...
I think Phoenix are in for the long term and probably not too bothered at the share price for now. Maybe in 5 years they will get tired and sell up, but for now they are the majority shareholder so presumably happy with the situation.

Thanks Pearls. I am a bit out of touch here. Probably at 2p the shares are worth a punt in case there is some dramatic news, but I would't stake all of the kids inheritance on it.

Possibly the announcement is that SG are staying at 399 Strand. I heard they have renegotiated the lease.

1m shares are only 20 grand, or about the price of a mint penny black on Gibbons' retail list. I don't know why you are so worked up about it.

Europe's largest lithium project could be up and running mid-2022 -EMH
Thomson Reuters Mon 22nd July, 2019 10:16am
* Situated close to car industry, battery producers
* Czech government offers conditional support

LONDON, July 22 (Reuters) - European Metals Holdings
EMHE.L could begin operations at its Cinovec lithium project
in the Czech Republic by mid-2022, and is holding preliminary
discussions with potential customers, it said on Monday.
Czech utility CEZ CEZP.PR , in which the state holds a 70%
share, last week said it had conditionally agreed to provide 2
million euros ($2.2 million) through a convertible loan to EMH
which paves the way for it to become one of EMH's largest
shareholders. urn:newsml:reuters.com:*:nL8N24H1G4
European Metals, listed in London and Australia, controls
the exploration licences to the Cinovec lithium/tin project in
the Czech Republic, which it describes as Europe's largest
lithium deposit.
It could help CEZ shift to renewable energy and supply
Europe's electric car industry.
"It's very big, it's low-cost, it's surrounded by carmakers
and battery makers and it's in the EU, where there is a very
strong political push to develop the battery industry," Keith
Coughlan, managing director at European Metals, said in an
interview.
The company's shares have risen nearly 50% this year.
Coughlan said the site also offers tin but at current tin
prices, it's not economic, just a useful byproduct.
The CEZ loan is only a small part of the total capital
expenditure of $480 million, but Coughlan said it was a
commitment that inspired confidence while CEZ carries out due
diligence on the project.
CEZ can convert the principal to shares at any point before
the loan's expiry at the end of the year. Czech Prime Minister
Andrej Babis has supported the deal if analysis shows mining the
project would be promising.
European Metals is working on a definitive feasibility study
and says it could begin project construction, which is expected
to take two years, in mid-2020.
The CEZ loan would make it easier to talk to other
financiers, Coughlan said, adding he had held preliminary
discussions with buyers, including carmakers and battery
producers. All are European, although some are units of
companies with headquarters beyond Europe, he said.
The European Union, keen to shorten its supply chains, is
focusing on strategic minerals and developing supplies for its
electric vehicle industry. urn:newsml:reuters.com:*:nL2N23K0PH
($1 = 0.8917 euros)

(Reporting by Barbara Lewis in London; additional reporting by
Jason Hovet in Prague; editing by Jason Neely)
((Barbara.hm.Lewis@thomsonreuters.com; +44 207 542 2932;
Reuters Messaging:
barbara.hm.lewis.thomsonreuters.com@reuters.net))

SGI are pitching at the top end of collecting where there is still life in the business, but stamp values are still falling. I am receiving auction catalogues offering Victorian stamps at just 2% catalogue which simply makes a mockery of SG catalogue prices. Everyone knows you can buy everything SG is selling much cheaper elsewhere.
I cannot see how the stamp division can survive without further cash injection or without selling parts of the business.

850k is not in the bank but owed to SGI as part of the settlement and will be paid over the next 12 months. Assuming those paying are solvent of course.

You made a bad investment decision based on greed and not the facts. A look at Deb charts shows the sp plunging from 75p since 2016.
I learned years ago that slow and steady is the safest way to increase wealth rather than making wrong guesses on beaten up stocks.
I was wiped on my first ever share trade, Bradford and Bingley, a salutory lesson to be learned here too.

For the last 2 years I have been banging on about how SG is basically a bankrupt company selling an unfashionable product to elderly clients.
The share price says a lot and even phoenix may be regretting the bailout.
Forget directors buying. They can see the direction of travel.

10p today.

A buy rating about to come out from Southbank investments. Hype on monday so see what happens.

I agree the auctions side of things has seen a big improvement but there are still way too many staff which according to their catalogue employs 11 people. This must run to half a million in staff costs alone. The auctions earn about 30% gross so they need to sell one and a half million just to cover staff costs never mind the rent.
If you have a look at their stock pages online, there are dozens of GB items in the ten thousand to one hundred thousand price range. These are not collectors pieces but investment items waiting to be sliced and diced. We all know what happened to the investment arm so what will happen to this dead stock? Its probably worth a third of retail price maybe less. No wonder SG is keen on a Sale and discount promotions. Anecdotally I am being told auction prices of investment portfolios are fetching only 20% of the investment price.
All in all SG will struggle on but not much respite for the share price for quite some time.

Has anyone apart from Pearls bothered to read the interim results.
Here are just a couple of things I picked up on.
"The collectibles business for stamps & coins remains solid".
This flimflam quote is by the CEO.
Yet looking at the figures for the philatelic division sales have halved and losses remain the same as the previous 6 months.
Elsewhere in the report is a statement that SG are in default of the loans. So basically the company is bankrupt.
Sales down, lossmaking, too many chiefs, rapidly declining market.
There is no cheer here and extremely slight prospect of recovery.