Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi all,
Have you all seen this link on AMGO website regarding SoA?
https://www.amigoloans.co.uk/question/scheme-of-arrangement-faqs
In Q3 they state the SoA would be expected to be voted on in March 2021. Would this mean lending cannot resume until at least March?
Len
Out of interest what are your motives for posting in this chat so frequently? From reading your posts it’s clear you believe AMGO are in turmoil & likely going bust. Just curious as to why you seem so engaged here when you could maybe focus that time in other more fruitful investments? This isn’t a dig - I’m just genuinely curious as I notice you post here nearly everyday.
@seamus I’d imagine the most important task the BoD got is to ensure their new loan/product framework is in compliance with FCA guidelines. As previously mentioned on here this will prevent any new complaints (at least near these levels) for the future.
When that is sorted I’m assuming they could potentially start lending again? I’m intrigued to see what happens & really have no clue when lending will resume tbh!
@Soundsrisky do you think the 160m set aside for complaints will not be enough so they’ll need to use extra money generated from new customer loans?
@tradeuk hope you’re right, I really do! Might top up soon now preempting an imminent lending RNS.
When is everyone expecting (best guesses of course) lending to resume and why?
I’m hoping for early January but feel there is a chance they may wait till furlough ends in March (hope I’m wrong!!)
As complaints are likely to be ongoing for the foreseeable I’m expecting lending to resume long before any clarity on complaints!
Like I said I do believe the upside is far more likely & definitely worth the risk, however considering a worst case scenario even has the potential for a turnaround does breed confidence.
I believe GJ appears to be making the right moves, building a close relationship with FCA and employing a former member.
Ideally the provisions covers complaints, we start lending in Jan & a new range of products is approved and sold to 1000s of new customers. The business model is there, demand is there, experienced bod - just need the complaints to be dealt with and lending to resume and this will fly IMO.
Wouldn’t mind a little RNS before Xmas regarding lending, that’s on my Xmas list anyway & I’m pretty sure I’ve been a good boy this year!
Hi all,
Bought in here around two months ago, far smaller holding than many on here but looking to add more shares in the coming weeks/months. I believe the potential rewards far out way the risks - I may lose all my money (<20% chance IMO) or I could 5 bag +
I have been contemplating the possible outcomes with regards to claims, re-lending etc.. In a bad/worse case scenario if provisions do not cover claims & re-lending is delayed, the bod could be forced to dilute shares & say double the amount in circulation. If this happens & SP halves - providing claims get sorted & re-lending resumes we still have the new bod and a fresh start, new products, better alignment with FCA, amigo 2.0. From here the SP can still multibag, just maybe looking @ 50p-£1 instead of £1-£3, which is still a healthy profit for all in at these levels! I’m in long term so prepared to ride this out all the way...
Just thoughts circulating my brain which I’ve decided to share. If anyone has any input or would like to comment I’d be keen to hear your thoughts
Cheers
Len
Hi all,
Been watching this for a while looking to buy in.
Just wondering how much of an impact people think the compensation claims will have on the SP?
Aside from that issue seems like a great entry point..
Thanks in advance
Len
@Thebhoys @Ian.B
Just showing my greedy side, overall I’m more than happy at getting my share of Nex and hopefully this is the start of rapid turnaround!
DMOR and am very confident - looking at the position the companies in with money in the bank & also the possibility of picking up new contracts from smaller companies that go bust, this is way undervalued.
I think this share will get more attention in the coming weeks & naturally the SP will gather momentum to the North Pole & hopefully further!!
GLA
Totally agree Ian... This could easily turn 100% profit within the next couple of months & 200%+ longer term. Bargain prices atm!
Good luck all!
Bought in at just under 122p, bit annoyed I missed the 113p dip yesterday but didn’t want to risk this shooting up another 5-10% tomorrow! If it does dip again I always have the option to average down..
@purchaseatthetop
What broker are you using? I’m looking at AMGO and some small AIM companies but they are not available on my trading212 account.
Cheers
I watched the video above that’s been posted in here a few times where JP Morgan portfolio manager talks about individual shares including NEX. Recommend watching if you haven’t yet, very informative!
Although it was from a few months ago the outlook for this share has not changed, if anything as of now it has improved as we are closer to a vaccine and appear to be coming out the other end.
Keep calm & be patient, one thing we all agree on is at some point this share WILL provide healthy returns IMO!!
Thanks @Chrishar
That’s what it looks like to me, going to continue watching & researching.. Financials look good and even a spike from here could hit 100% short/mid term easily IMO!
Hi all...
Like a few on here I am on the CINE train & looking for my next profit maker - have (hopefully) wisely decided this IS going to be it!
Looking for my entry point and interested to know if people feel this is likely to drop much more or are we near the bottom?
Many thanks
Lenny
Going off some of his other films it’s ripe for mixed reviews & even if it’s not the blockbuster we are hoping for the intrigue plus the fact it’s the first big release with cinema doors back open this will hopefully bring many to the big screen! Booked mine & gfs tickets for Wednesday eve, will feedback my review soon after...
Even if it’s sh*t I’ll tell all my friends & family it’s good to drive up the SP here so I got your backs guys lol