Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Along with Boggyclouds, I have lost £300k on this donkey. On face value you would think that was part of a wealthy chap's portfolio but sadly it was the only one in my portfolio and also the bulk of my pension plan. Very foolhardy in hindsight.. ! What bothers me most, is that the ex CEO would have had full knowledge of the constructive accounting system used , along with, "the no glass ceilings" bullshit he was spouting and then selling nearly all his shares at top price. The fact that he held a small amount of shares under the new chairmanship was an insignificant amount in comparison and possibly more to do with not making it obvious that he knew the ship was about to sink. I can't believe that there isn't some sort of enquiry into the companies accounting procedures and whether Mr T. was aware of what was going on.
Hi Handofjohnson. May I say, that of all the posts I read on here, that sadly yours make the most sense.<br />I've always been a bit cavallier with my investments and tend to back one or two shares rather than a portfolio.<br />I am one of UTW's big losers. On sellling my house, I bought approx �325K of these donkey shares at roughly �1.80. This isn't going to destroy me financially but it certainly has been a gut-wrench watching them plummet for the last two years.It seems fairly obvious that Slippery Geoff (as some people are calling him) has presided over a company that has used a very suspect accounting system for a very long time to inflate figures and drive up the share price of what is basically a glorified call centre.He has jumped ship a long time ago as you so rightly say but shouldn't the accounting methods which he so readily approved of, be the subject of an investigation? How can he get away with it?
Not sure how you managed to get hold of that but it was a very inspiring read. I've watched my retirement fund slip away gradually over the last two years. sadly my "portfolio" consists of only one company. :( Reading that transcript sounds very optimistic and I feel quite happy to hang on another 6 months or so, when the phoenix will again rise from the ashes.. Are these sort of transcripts available somewhere online or are you privy to a few things not in the public domain? Cheers JPG
Hi whatamess. I can't recall whether he said it was 200k or 300k accounts but it was one of those two. I was a little suprised but if they have got that many active accounts,that's a good thing. I asked various questions about how long (i.e more than six months or less than six months) hoping to get a reaction but there was none. I'm guessing, like me that you have a big investment in this lot as you post on here quite regularly. I really don't know what to make of it all but it does seem that the troubles are being dealt with very methodically and from the various new ventures that they look like getting into, there is still some ambition there. Hopefully we will get some info from them soon....
I rang someone at UTW and explained that I had quite a large chunk of money invested on this donkey and was getting increasingly concerned about the way shareholders had been basically "shunned". They said they would get someone to ring me, which they did.. :) I didn't expect too much information (insider trading etc) but I hoped I would be able to glean some hope from the vague answers i was going to get. I tried every tactic i could to get some sort of answer but all he would say was that they had 200k or 300k accounts to look through and it would take some time. Nothing... The only thing I could say is that he did bother to ring me and secondly, he was quite cheerful and upbeat in his manner.. Maybe he had just had a BJ but I'm trying to find anything optimistic to grab on to..
�350k... :( Being of a rather cavalier (maybe foolish) personality, I've always liked to have a gamble but previous to this finger burning exercise most have been much more successful. Sometimes a good lesson like this can teach us a lesson about being greedy.. Rang Utilitywise again yesterday where they gave me a number to ring. Left a mesage and still no response. I'm not too worried about sp dropping any lower but it would be nice of UTW to at least keep shareholders slightly informed as to when they hope to start trading again.
I sold my house five years ago and invested most of the equity in this business. Why? Basically i believed the gumph that was coming out of the ex chairman's mouth and followed rather blindly. I bought in at �1.80 and have watched my investment plunge downwards. I have rang the company to speak to someone regarding "investor relations" and as yet nobody has returned my call. I fear the worst for this company and my cash..
Large volumes of shares being sold last couple of days. Me thinks the final results are out through the back door and they're not good. Anybody got anything optimistic to tell me ? Obviously rumours of a takeover bid have died off too. Oh Oh.. Woe is me...
I have it in my diary that Trading Statement comes out on Wednesday 23rd August. Let's hope there's some good news.
Thanks Mr Smiley.That's how I feel anyway but it's always nice to have affirmation that others hold the same opinion. Also that Utilitywise are looking after you and they have a happy customer... :)
Sadly, I am like Beevorma. I have a long way to go before retrieving my investment. Being of a gambling nature I do not have a balanced portfolio and have lumped everything on this donkey. Hopefully it's just stopping for a breather before shooting off again. Only a thought regarding Geoff Thompson selling out while the going was good. Didn't he hand a large chunk of his holding over to two of his children last year? If he thought the company was going down the pan, he would surely have not done that?
I have quite a large investment in this company, as it pays a good dividend and there is good growth potential. Like others, I am a bit dismayed at the consistent decline of the share price in the last few months and when it appears a company is in freefall, there is a temptation to get out while you can. It appears that the share price has bottomed out now and as long as Theresa has a good day today, I predict a good bounce back up to the 180's over the next six months. Fingers crossed