Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
About £600K from a quick count.
Barclay's haven't dealt these through the LSE for some time. Look on the Nex Exchange and you will find your deal for sure. This is an ex 'dark pool' which has morphed into respectability via this growing aim specialist exchange.
Then they have to cut their cloth accordingly to suit the steadier revenue flow from Dreweatts and Bloomsbury etc. There is still a big demand for stamps - see the Apex and Murray Payne auction results but not the huge six figure one-off sales Stanley Gibbons were apparently making a couple of years ago. I really can't see them disposing of Ely House when that was a means of taking the non stamp business more upmarket. There seems to be a hastily arranged Mallet furniture etc sale inserted into their calendar so perhaps any new management input is having an effect. But who knows??
Baankman - yes. He's hoovering up some of the institutional sales and this is before contributing wholly or partially to the £9m funding. He could have 35% by next week. The management won't know what's hit them.
Yes Banksman, if it is the case then it's a win/win situation for him. Turn it round or asset strip.
So we assume they created an additional 1,581,546 additional shares at 63.23p for Richard Griffiths to fund them £1m last week. I presume the remaining £9m funding will come from the same source - let's say 20m shares at 45p. That gives him a 30 % ownership and his man on the board.
At last a sensible comment! Can't see them selling any meaningful property but, almost certainly, Dreweatts and Bloomsbury will move out of Maddox Street into the Mallet premises at Ely House which takes them a bit more up market. I, too, like the business model. Of course, in retrospect they overpaid for Noble and Mallet, and the problems integrating the Mallet management have been well documented. But, it was absolutely essential to diversify Stanley Gibbons. At least we now have a glimmer of revenue visibility. At the same time, no one should underestimate the allure of philatery across the globe. We must appreciate that the auction world is made up of smoke and mirrors and, as a plc, there's no hiding place for SGI. Not sure about the funding question. I thought it was a strange rns - auction houses have always lived from hand to mouth as a species. After such a pummelling the share needs time but the discount to NAV makes it an interesting punt at these levels. Good luck with your purchase.
I am interested in your comments. Interestingly, this is not the first time that he has changed his mind on Renold. I recollect him reversing his tactics in 2009/10. We must bear in mind that they are principally 'tactics' rather than any hint of long term strategy, however much he 'glams' up his recommendations. Of course, he has had his successes and must be a pain in the neck to market makers who try to keep a level book in terms of small companies. Nevertheless, his engineering tips have been disastrous. In his Traders Diary (15th/16th January 2011) he tipped Renold at 40.75p and 600 Group at 25.75p. By the year end these stocks had fallen to 26.25p and 18.5p respectively. Poor old 600 group closed at 7.38p yesterday. Frankly, I'd rather follow my own nose than his self-interested tips. Certainly, he is an "experienced analyst" and, as such, I cannot believe that he missed the liability deterioration in the Renold Pension Fund when it was last reported. But he claims that this was a major reason for dumping the shares. Who is he kidding? Surely we have read the last of his reports on Renold.