Member Info for itisagame

Whats going on with Igas then, where is it going to go.

NAV june 21 ~62m / 50p per share
"Big Sellers out"
Other II increasing positions
Oil and gas price going to the moon
$32 / barrel costs
2000 bpd
hedged sale prices pretty low but increasing, come 6 months could average much much higher
hydrogen - sounds like potential access to government funding
£10m written off last year
£34m deffered tax assets / £67m in provisions already made

£21m mcap? seems to me like it should steadily rise over next 6 months. but what do i know.

page 10-11, Remember JB also said last year a managed wind down would give a significant return .

https://amigoloans.cdn.prismic.io/amigoloans/602dd49d-5421-4e29-835d-4c9f56101bd0_Q1+Results_Amigo+Holdings+PLC+Q1+FY22+Financial+Results+FINAL+-+27+August+2021.pdf

Its paid off, cash in bank is rising and will soon be enough to cover the bonds, the bonds are the last major secured creditor, then any cash / cash flow (after running costs and FOS / FCA take their bulk) can go to "those in need" the claimants.

Its a positive RNS, whats not to like? Its another step towards securing payments to the claimants, which is better then no payment to the claimants

Come on Sara i thought you wanted claimants to receive cash back.

“ About a decade ago, Origo invested in Moly World Limited (Molyworld), another BVI company, which through a Mongolian company owns rights to mine molybdenum in Mongolia. Origo paid US$10 million for twenty percent of the BVI company in 2011. Thereafter, global molybdenum prices collapsed, Molyworld had various legal problems, the driving force behind the company died, and no real operational progress was made. Molybdenum prices have now recovered to about where they were in 2011. Origo expects to put its Molyworld shares and any other remaining assets up for auction before the end of the year. We will provide additional details in due course.”

The put it so positively, still sat with fingers crossed.

My guesstimate calculations based on what we were told in the results on how much of the gross loan book is being repaid (with no one left on covid holidays) tell me that they will have enough cash to repay the bonds, bond early settlement fees and put the initial float in to All Scheme for claims by Xmas.

Once the bonds are paid the holdings PLC is "safe", everything else is tied to a Ltd company.

That doesn't tell me how much we will potentially be fined by the FCA / potential restrictions put in place, whatever the FOS fees and other costs end up being.
Cashflow wise i believe Amigo can work from the old loan book and claimants can potentially receive alot of cash.
And if the FCA make it to difficult then given time the PLC will be able to restart under a new subsidiary which yea will no doubt have its own issue but still potentially be the easier route if ALL is unfairly clobbered.

In the end it will come down to things outside of shareholders or the companies control. We just have to wait and see how it plays out.

https://www.youtube.com/watch?v=HCm6gRHINqA

are they refinancing every old bybrook position with new CFDs and releasing capital held under old bybrook accounts?

well spotted i stand corrected, technically they didnt need to report the extra under bybrook name as didnt cross a whole % but good to know.

merger, just under cairns name now. no net change reported.

know of any other ~£45m mcap companies with >£1m appearing in their bank account EVERY day?

Dilution with a high chance of it being via an open offer, and you won’t get offered cheap stock if you don’t hold. IF it happens as soon as it’s announced people will be clambering all over to buy the very few shares that are available sub 10p to take part.

And IF it happens It’s to fund 2.0, so the beast will be unleashed and set forth to the moon.

Good luck buying in bulk (wink)

The new soa will be fine, they have taken everything on board and are redoing it in a way as asked.....

After SOA My guess is we are going to have a rights issue to fund 2.0, but as soon as its announced its game on, buying at <30p will be wishful thinking, so keep a few pennies spare to take part in an open offer xx

Positive thinking, it will come good.

It’s been great PR for her website, I wonder if she has benefitted financially in any way from it. She’s put in Lots of effort replying to all the facebook posts and everything else the last couple of years.

Look at the results, there is a -£105m NAV, you can hardly say that Amigo has mislead anyone, there is no spare money, clear as day how they came up with the provision within the results details.

Fact : Without a SOA in place everyone is worse off, even secured creditors who will still get most or all of their cash back, but especially claimants who could receive nothing.

Fact : With a SOA in place everyone will receive something back.

Fact : Gary and co are tidying up issues that stemmed from before most of them even joined the company.

Fact : the FOS / FCA charges are horrific and if they were so concerned about claimants they could waive part of all of their fees and put this cash in the SOA pot too.

Fact : future potential share price will always be hypothetical and shouldn't take part in any legal decision.

Crashed again? Ready for the influx listening to the call

FCA salary not to far off.
https://www.fca.org.uk/publication/corporate/salary-ranges.pdf

They currently have £205m cash in bank with a dribble left on the securitization facility.

in 3 months they will have enough cash to cover the bond face value.
in 6 months they will have enough cash to cover the bond and the scheme if it is approved.

Kitchen sink the whole amount and still has a +£4m NAV as of 31 March.
Since then cash has increased, debt has gone down, plenty of room for upside movement expected in next Q1 and H1 results.

Still the same future as yesterday.
1 - on a + SOA result the share will reflect a much higher value.
2 - on a - SOA result, it doesn't.

well they make an interesting read..............
kitchen and bathroom sinked.

chat crashed, posting to refresh it.