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Devonplay - very kind of you to spend time writing such comprehensive explanations. Sorry, but it was all a bit of a waste of time, as I hold no SGI shares, never have done, and have no intention of investing in SGI now, either in shares, stamps, bitcoins, or anything else.
I came to this board with the view to gather information on possible investment, but soon realised that it confirmed my thoughts, already gained from more reliable sources of research, including my broker, that there are much better companies to consider. So I will not be needing to visit this particular forum or post here again.
(And I actually don't "play" at investing. I am a qualified accountant who has worked with one of the larger national firms,
and for a time with H M Revenue & Customs. Myy net investment profits in the last 12 months, despite COVID, stand at just over £320,000. )
GLA.
Devonplay - you have completely lost the plot now ! What the **** are you talking about ? (My father-in-law is a consultant psychiatrist......he treats private patients, so just PM me if you would like to arrange a consultation ? )
Wonder why Devonplay is such a Misanthrope ? He/she seems to enjoy venting his/her hatred on the whole of humankind, even when they are agreeing with his/her points of view ? (As he/she would say.....LOL. )
A long-term on-and-off holder of aym here, but I have reached the point that I no longer understand this company (or perhaps the BOD). If a company/business holds one major capital asset, I can understand waiting for a suitable time or economic circumstances to profit from it, either by exploiting or developing it, or by selling on. But not years and years of doing nothing, through good and bad times in the economy and world affairs ? When will the time ever be right to do something ?
Similarly, I have known businessmen/directors who have worked into older age (currently one aged 85). Obviously they enjoy their work, but all have been very conscious of making profits, and, as the time came to consider full retirement, making suitable plans to make a profitable sale or exit from the business. But never just doing nothing !
I remain very dubious about the true publicity benefit. Most collectors are well aware of its existance, it's not an attractive stamp, and even if a few non-collectors notice it, or even visit 399 (lots more interesting things-to-do-and-see in London?), they're unlikely to spend any significant amount while they're there.
OTOH, it just might act as a poison pill in detering others from getting involved in investing in a company where its major asset is a single stamp with no guaranteed market value.
(Even more so with the complications if SG's plan of every Tom, Dick and Harry owning a little bit of the stamp comes to fruition ! Just wondering what happens, for example, if I buy a bit of the stamp, then leave this in my Will, half to charity and half to my three daughters. Then they each give a different bit to each of our six grandchildren "to encourage them to collect stamps".
Have SG really thought this through ? :-) )
CarpeDiam - you're totally correct. Elementary book-keeping:- Increase Balance Sheet assets by the amount paid for the stamp, increase Balance Sheet liabilities by the amount of the loan, effect on net book value of the company - nil.
Pearls - you are very optimistic in the amount of publicity you think that the British Guiana stamp will produce. Most collectors won't travel to 399 to see an ugly scrap of paper, and it will attract no more than a small fleeting paragraph in the general press or tv for the general public. And why should anyone "invest" in bitstamps.......at least a Plate 77 or a aTyrian Plum is an attractive stamp, but I know I shall never own either, so why buy a tiny fraction....of little interest, and doesn't impress anyone (what's a Tyrian Plum, Dad, can you make a pie with it?) . I'd rather put my few £ towards some interesting and attractive stamps which I can afford, study, handle and enjoy. Might even recover some of the cost if I ever sell, but, if not, I can stand the small cost for the amount of pleasure from the hobby.
I was just about to post, but Hamilton has written exactly what I intended to say !
I like to think that I've been a serious philatelist (in a small way) for many years, but the only SG's items and services which i use are the catalogues (now getting quite costly, so I no longer buy every new edition) and the monthly magazine. For stamps and supplies (albums, etc.) there are dozens of reliable competitors , many of whom advertisise in Gibbons own magazine(!) going from the major international auctioneers through to Jo Bloggs selling stamps by mail order from his front room.
The BG rarity purchase is just a gimmick....serious philatelists would find it of little interest, compared with much more attractive and desirable items, which have postal history and can lead to interesting and original research, while stamps are very rarely a good investment, especially without any philatelic knowledge, and as proved by SG's previous unsuccessful marketing of investent schemes.
I agree......but would still contend that an appreciating asset has to be either developed or sold to realise any profit. I have been a shareholder of aym since the late 1980's, and have never seen any real progress by the BOD to do either of these things?
Always jam tomorrow ? The fact the shares always drift downwards perhaps says a lot ?
Demand outlook for copper (and other metals) may well be very strong, but there's no profit in it for anyone while the ore remains in the ground, with no obvious plan to dig it out !
Can't get a quote at the moment via ii.co.uk.
I'm with YamR1man also. Has this company ever actually "done" anything....other than promises and "jam tomorrow" ? I made a small profit on the peaks, but am currently sitting on a small loss on the remaining shares. Will just watch now for a while, but, if the shares go up a litle and I can clear out the remainder without crystallising the loss, I'll look elsewhere.
It's on companieshouse.gov.uk (the Government public company registry). Any company's statutory books (share register, etc.) has to be available for public inspection at its Registered Office, but an alternative address can be given. (Maybe at a solicitor, accountant or share registrar). The address in Leeds looks to be an office address, perhaps something like a solicitor, and the use of a PO Box No. is not unusual for firms receiving a lot of mail, it allows this to be collected early from the Post Office each day, rather than waiting for the general deliveries. No reason that this should be anything untoward or any tax issues.
Probably little significance?
Apologies for duplicate post !
dukey1234, I have to agree that the shares are likely to remain stagnant. The PEA's are good, but, in terms of production prospects and any firm plans for the future generally, the position is really no different to 12 months (or much longer?) ago ?
dukey1234, I think you're right that the share is likely to be stagnant. The PEA's are promising, but, in terms of production and the future generally, we are actually no further on, everything really much in the same position as 12 months (and longer) ago ?
Got to agree, lsc123. AYM's holding in Labrador is very much a minority holding, and, while an increase in vaue is good, it gives no entitlement to any income. To have any real value, a minority holding ln any company would have to be sold, or attract some dividends.
IIRC, it was indicated that the PEA would be out by the end of Feb.? Has there been anything official from the company suggesting any reason for the delay, or any new date when this might be expected ? It's surely not very professional or business like not to give at least some idea, and, IMHO, suggests a very lack-a-daysical attitude for LIM and AYM. Doesn't give confidence that there is any get-up-and-go to take advantage of current opportunities ?
As a lth, I think that the best way of realising the value of the shares would now be an offer of a takeover of the whole of AYM.
Any plans for Parys look to be vague and could well "miss-the-boat" of the present boom in metals.
But, more particularly, the BOD are not young.....I am a similar age, and while, fortunately, in good health, and still enjoying part-time business, I don't have the energy or incentive (or any real need) to push-ahead with new ideas, projects or business developments which I would have had 30 or 40 years ago. Give me now a further couple of years to full retirement and I shall be happy....and I wouldn't blame our present BOD if they felt the same.