Member Info for londondan

Down 10% in early trading, hitting another all-time low. Not the best start to the week...

Judging by some of the sells today, you're not the only one. Floating around the all-time low now.

"The same mistake"

You said it boy.

That's a shame, but I can't blame you Flightman. It's not looking good here, at all.

Best of luck with your other investments!

Well it looks as though the market has provided me with my answer. No, it isn't enough to get a ramp going here.

RNS out. Nothing new, but good to see that the first £35,000 of our £100k has been returned by Star Sanctum. Will that be enough to get a ramp going here? Let's see.

Sobering reading there, thanks to all for the figures. It's becoming increasingly clear that Challenger's stake in this project will be/has been diluted in to irrelevance.

Thanks PI73 - finally some sane commentary on the Odyssey zoning application being approved. Mind you, most people ramping it on Twitter can't actually spell 'Odyssey' correctly, so I expect their understanding of planning applications is somewhat limited.

That's all well and good as a sales pitch (and correct, for the most part)... but someone's got to pay for it. They've burned through hundreds of millions of dollars to date and have just about managed to build a car park.

If they can't find investors to stump up the cash, they can't build the wheel. Everything else is just puff and bluster.

Indeed so Hardfall. I do wonder if we've found the bottom here though now. It seems that quite a bit of this company is held by PIs, many of whom are underwater and seemingly less likely to sell. Therein lies the benefit of the market cap being so low I suppose.

3m shares have been dumped this morning and we've slumped back in to the mid 0.2's, but it seems to have steadied in the last hour. Perhaps everyone else is happy to see it through to the bitter end.

Yep, I'll take that! Up 10% already in early trading. Very nice too.

Well well. Another long extension to the deadline, with no deal signed. Who could have predicted that? (Me, actually. About a week ago.) Yet again, SI Live comes up with the goods. Who could have predicted that? (Everyone except iain.) Thanks Mysteron. So now January 2019 is D-Day, with the possibility looming that the parts needed to build the wheel may well have been sold off to another party by then.

This is a total mess. I dread to think what will happen at the open here tomorrow. Hold on to your hats.

As much as people may wish to drown their sorrows this evening, it would be great if we could avoid another humiliating bout of drunken abuse, as occurred here on Friday. Thanks in advance.

They were after a $140m bailout from the city, according to that article. Good grief. Pinch of salt and all, but if that's true then it's surely a very bad omen.

Not long to wait now in any case. I think it's almost time to head to the pub for a Friday beer or two. Enjoy your weekends all.

Bless him, is officeteaboy at it again? He's one of the better filtering decisions I've made lately. Look through his posting history - it's literally all just him firing abuse at anyone criticising one of the numerous dog shares he's found himself trapped in.

You're right though I guess - it's good sport and great for a laugh if nothing else.

That really does shed a lot more light on things. Thanks Hardfall - that's what actual 'research' looks like. Streets ahead of the guff generally posted here by the usual suspects (three or four of whom I've now filtered, admittedly).

Thanks Hardfall - interesting read.

Slumped back in to the 0.2's today. Spare a thought for those who bought on the ramp and are now long-term holders by default. Welcome!

It should go without saying that public funds shouldn't be wasted on rescuing failing private projects like this, so none of this news comes as a surprise.

It's helpful clarity though to know that when the City says 'we will work with NY Wheel to help ensure this project is completed' they actually caveat that with 'we're not going to be bailing this thing out under any circumstances'.

As Ichi quite rightly notes, there are two fundamental questions here - a) will NY Wheel be able to strike a deal for more funding? and b) if so, to what extent will Challenger's minority stake be diluted in the process?

SI Live has proven the best and fastest source of news to date, so worth keeping an eye on it. Or you could do what poor old Iain (or 'Jonah' as I like to call him) is doing - pop your fingers in your ears, say 'la la la la I'm not listening' and pray for a miracle.

Happy Friday all.

There's every chance F458, I agree. The return of the failed Star Sanctum loan instalments is critical at this point, as it could help keep the lights on without having to go back to the markets (at a time when shareholders have already been diluted in to oblivion).

Today's RNS is the first bit of smart business I've seen from the CEO. He's managed to get the latest bit of dilution news out in to the market without tanking the share price again, by using the NY Wheel non-update update as cover. It also suggests to me that a lot of this business is now in PI hands. Let's see if NY Wheel can get a deal together without another lengthy deadline extension.

Good post, sage. There has been a definite case of herd mentality here, with panic selling going off all over the place. My average here is extremely low now, so I'm happy to sit on it and hold for as long as it takes to bounce back. Fundamentally a good business which was overvalued before the bad news hit. My view is that it's now significantly undervalued.

Big ramp underway now it seems. I imagine that'll continue until we get some proper news on the NY Wheel extension timelines.