Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Just to amuse the lucky faithful here, I bought this in 2015 and got bored and sold £3,000 worth in late 2018 because nothing was happening.
I sold my shares for 0.7p apparently. having bought them for 0.6p.
I would have 100k if i had held on (i think, has there been any significant dilution?)
I was just checking through my share sales and saw what happened here and now I'm a bit peeved.
I just came back here on a whim and WOW Kenny you are still daily banging the drum about this company to an empty room? I remember 2 years ago you had like 15,000 posts. have you really been sitting here for 2 years adding thousands and thousands of posts all saying the same thing. 'in case you missed' and then posting often unrelated news articles vaguely related to African farming. or re-tweeting DL within minutes of him posting. how can you spend 2 years sitting watching DLs twitter feed. is this a cry for help. There are like 10 trades a month of this share, total volume like a couple of grand. why are you devoting your life to keeping the post count up on this board? the sun has set on afriag man. let it go.
Yeah bit of panic selling, maybe from people who read the RNS and didn't understand the context. recovered nicely and the world makes sense again. Unless a deal isn't reached (in which case they are all mad) I expect this to recover to mid 200's hopefully. I cant see a deal not happening, both sides want to make money.
I had �25,000 in this before the drop, including a decent amount of profit. obviously the drop and the blatant blackmail from the government worried me a lot but I 'just' managed to resist selling. my theory was that the government were just playing for a stake, holding the company to ransom and that a sensible deal would be struck and the price would somewhat recover. However, 50% of future revenue? that is a biggie. I don't know how far the price will recover from here. the peak price was 600p, so with half the revenue gone, even with higher earnings what can we expect? 300p and I break even again so I would like that, but I'm not fully hopefull. Disgraceful by the government, stealing half a company like this, but to be fair companies like this behave disgracefully in African countries. so, who knows. Either way, glad I held on and sad I didn't have the guts to buy in the dip.
to top slice. but, I think that I might get locked out. got to keep reminding myself that this, RRS and others are my recession insurance, not my trading stocks. if I sold half now, didn't find a price to buy back in, and then there was a market crash. I would feel bloody silly.
I am not worried. this is my biggest share now. bought my first slice at 48p in jan 15 and been adding ever since till end of last year. got a years salary in it of which pretty much exactly half is profit. not considering selling here because volatility is normal in the gold/silver market but it always comes back eventually from these relative levels. precious metals have extraordinary resilience. the only concern is the company but I think its solid.
:) I remember our conversation in November about this when a bunch of us decided it was oversold on temporary bad news and bought in at the low 500's. it looked like a certain recovery only a matter of time and patience and voila! I am not selling personally because I don't think this is finished. I expect volatile but steady growth for the next few years off the back of the programs they have coming through.
This is a great shame. it appears that almost any successful globally positioned company in the UK gets bought out from abroad. it is also true (but less well known) that we own more of foreign companies than foreign organizations own of our companies but that is mostly historical stuff. nowadays the flow is decidedly one directional. our government has 0 power to do anything about it (even if they wanted to) because of our laws and free market agreements. so any petition to ask them to intervene is a futile gesture, the same with requests to intervene in the steel industry. On the other hand, I had quite a large investment here from April which I saw as a safe stock to start slowly going up and I was 30% up already. I never expected to get 70% up within a year so I am pretty pleased on a personal level. I am sure other holders will be feeling good about it too. but torn by the wider issue of losing this great UK company (especially as I work in Cambridge in the tech sector). Also I don't believe the line that they will grow the company in the UK. almost every UK takeover includes the promise to grow the UK operation and almost every single one goes back on this promise in short order.
Well, we are once again over the price where the big drop happened last year. bit bumpy but as we predicted, the value has returned once the panic over the profit warnings dissipated. question now is can It break the long term down trend since Jan 1st 2014. Hoping the structural changes mean it can.
The asset may well be world class but all the rampers are conveniently forgetting the debt millstone is worth a lot more the other way. company isn't just valued on its assets but also its debts. people were warned that the 180p valuation stuff was nonsense. well, now the proof has been harshly delivered.
Well I am relieved that we avoided another profit warning, no nasty surprises in there and clearly the market was expecting worse. dividend cut was known to be very likely so not bothered about that. hope for a gentle recovery through the year from here. GL all.
Oh dear Pax, really I mean this is quite sad. you did exactly what I said people would do, went into my history, found it backed up my story and then tried to use it to undermine me anyway. started personal attacks and conspiracy gibberish. its the same every time and its all rubbish. You say that my posts on Globo weren't what someone in my position would do and the sad truth is that you are usually right, most people on these boards don't react like that and this is the problem. I didn't blame the shorters for losing my money because it wasn't their fault. they found the fraud and pointed it out and all this stuff, everything you are saying, everything everyone else is saying, is entirely typical. Anyway, here is the contract note I have for my globo purchase. you will claim I have faked it but whatever, confirmation bias is a difficult thing to break out of. its real and its embarrassing for me but here it is. I am a real victim of fraud, its pretty crazy that having actually bothered to read my history you didn't get that. http://imgur.com/J0FTTak I mean really, all this stuff about silver tounged devil, snake etc. get real dude, you are deep in the delusion I you have actually bothered to read my post history and don't believe it. I am very consistent. No I am not a shareholder here but I have a very high interest (as a victim of Fraud on AIM) in understanding it, doing a little bit to fight against it and genrally working out how it works and how to spot it so it never happens to me again. If Turpenetech is a real company (and remember the allegations aren't mine so I'm not going to answer for them) why do its annual returns not show any proper income from this expensive licence? just having a website saying they sell the products doesn't mean they actually do. And as a predicted people are undermining TW's motives, saying he just wants to earn money from advertising. guys, its called journalism? that's how it works. Either way, you think your reaction is clever but its not, its entirely typical and self deluded. good luck to you though, if this does turn out to be a fraud try and lean from it, if not then great news, I don't want non fraudulent companies to fail. Either way try and use it as a positive.
I used to be in the exact opposite position as people here, owning shares under bear attack, wanting to believe I was right and they were just greedy aresholes and I lost out. so I did some proper research, actually read what TW said and checked it through myself. I found he was actually not only right but that it was easy to see if you looked critically. people will now attack me, refer to my old posts on other boards, undermine me, spout more personal stuff against TW, tell me they are filtering me, all the usual stuff. its the same on every board and its all old hat. The only thing that matters is are the allegations correct? usually with TW they are. He is good at this stuff but of course he isn't perfect and people cherry pick mistakes he has made to undermine him. even terrible examples like Quindell. but ignore the fact that he is often right. its the inconvenient truth, you don't have to like him, you don't have to trust his motives, you just have to check the facts of what he is saying and make your own mind up. That's what I failed to do and I regret it. Now queue the attacks on me for daring to post a reasonable negative view or in any way suggest I might think TW has a point.
I used to be in the exact opposite position as people here, owning shares under bear attack, wanting to believe I was right and they were just greedy aresholes and I lost out. so I did some proper research, actually read what TW said and checked it through myself. I found he was actually not only right but that it was easy to see if you looked critically. people will now attack me, refer to my old posts on other boards, undermine me, spout more personal stuff against TW, tell me they are filtering me, all the usual stuff. its the same on every board and its all old hat. The only thing that matters is are the allegations correct? usually with TW they are. He is good at this stuff but of course he isn't perfect and people cherry pick mistakes he has made to undermine him. even terrible examples like Quindell. but ignore the fact that he is often right. its the inconvenient truth, you don't have to like him, you don't have to trust his motives, you just have to check the facts of what he is saying and make your own mind up. That's what I failed to do and I regret it. Now queue the attacks on me for daring to post a reasonable negative view or in any way suggest I might think TW has a point.
Paxto The allegations are to what is known as a Panama pump. google it for explanation but what is alledged here is that a company called turpenetech was set up by people within the company. this company was then used to place an false order, paid for with a loan from an unknown source. this false order was reported as good news, which put up the share price. Eden then bought 29.9% of turpenetech and paid for that with Eden shares. because this was equivalent to just under 3% of Edens equity, Tyrpenetech was able to immediately sell those shares onto the market, and the money was used to repay the loan to the unknown source. Thus ordinary shareholders ended up footing the bill through this process. this is a type of securities fraud. Now, those are the allegations, they aren't mine I am just repeating them on request. if they are true or not you can judge for yourself because ALL of the evidence comes from public source such as RNS and companies house. its easy to follow the trail. As to all this stuff about financial trolls. that is worn out old misdirection and opinion. the problem with what he says is that its just ignoring the facts of the situation, which is ironic given that it is one of the accusations. TW is not a very likable bloke, he is a failed director and he is a bit petty and vindictive and genrally aggressive etc. but none of that actually matters. the only thing that matters is is he right? screw his motives, did fraud take place? every time he accuses a company of misconduct this old website is wheeled out to undermine him and its irellevant. I was a globo shareholder, TW wrote a number of pieces condemning the fraud there. people posted all the same stuff you are seeing here attacking him and accusing him of everything under the sun. I listened to them and ignored the warnings. Globo turned out to be a fraud and I lost my (small) stake in it. The reality is that he is very good at spotting frauds. people attack him as a person but I never see them actually argue with him on a factual basis, because they cant as he does his research pretty well and almost everything is public source so cant be contested much. People like to wheel out Quindell as a way of saying he was wrong. Which is lolsome. that company was so dodgy and is under SFO investigation. the share price was saved by SG buying a section of it and they then discovered just how bad it was and are now going bust because of it. was TW wrong? no. he was spot on. he just didn't predict some muppets would bail them out. The people who destroy investors and companies are not the 'financial trolls' which is just a word used against anyone who says anything negative, its the people commiting fraud. shorters attack companies for a reason, they are the symptom not the cause.