Member Info for ringworm

By my estimates, as he sold at 5.6p, he now has 50% more than he did last week ... Assuming that he just bought back at 4p or so ...

Interesting. As if you divide asset value 15.3 Million by No of shares + 100 Million you get 5.4 p per share. So todays price was bang on the nail before the markets took it down. I will probably buy more if it falls again next week.

On second read, its really not so bad, that to raise 5 Million on todays price of 5.3p would mean almost 95 Million new shares, and a further dilution of equity value. One must see this as a relaunch, as an open offer of 125 Million at 4p might be hard.

I think that to look at equity fundraise we would need 200 Million at 5p to raise £10 Million, thus reducing net debt by half (£20 Mil down to 10 Mil), but we will more likely be looking at securing the finance on the "Investment Stocks" probably privately and without the previous assurances of future value. The question is who actually owns these stamps ?

Reputation means a lot, but to normal collectors and traders the "Investment Grade" products are of little interest, what matters is the quality of their catalogues, and their ability to sell "Difficult" collections at auction reliably. The share price is too low for an equity issue to fundraise, so what remains is either sell off to a third party investor - or bank, complete insolvency which would mean the remaining stock being sold at auction, or some other arrangement whereby ownership of "Investment products" was hocked against future sales. The remainder of the group is now profitable and thus of interest to a bidder. I am preparing the seasonings for my hat - just in case ..

I don't expect anything to happen before next week, and now having averaged down at 3p and then 4p I don't see the point in selling below 8p. A profit is a profit but there is really nothing else I can see with the same potential. If disruptive were interested at 13p before, this price is still a bargain, and at 6.5 it would be half price for them ...

Bitcoin is dead - dont buy it. When bitcoin was young you could use it to buy coffee, now the transaction fee is about £20. now you can buy some bitcoin, but you need to keep your "wallet" safe - which means keeping a software/data block safe on some device and remembering the passphrase in a safe way. The price of bitcoin is being driven by 1. Speculators, 2. Organised crime, if you have some sell it soon dont keep it to pay off some ransomware in the future. The IT companies who keep it for such purposes are simply showing off their incompetence.

no - there is no point in selling undervalued stock, will wait till its overvalued and in auction to try to get 20% over, then I will sell half or two thirds.

so when the price drops again I have to buy more, having successfully "Averaged down" enough that I am now showing a profit for the third time in a year on these. So of course I will sell again after the recovery - at least enough to have "Averaged down" to 0...

5p share price values the business at just under £9 Million.

we already expect a slowed trading update with shrinkage and consolidation ... so ...

Glad I did yesterday at these prices. Oversold and undervalued.

It all depends on how you see the function of the current board, put in place by the institutional investors, which it would appear to be experts in administration, so SGI was bust, the entire board were removed, auditors resigned and replaced. So all the action over the last 18 months has been to try to salvage some of their (and our) investment. Now that SGI has been pruned, investments put into formal administration, the remainder of the group namely catalogues and auctions can now be either sold as a going concern, or operations staff appointed. I think its still viable as a business given the strength of the collectibles market, but staff need to be accountable, and motivated.

This business is exploration, the directors also run Tertiary Minerals, so it will probably follow that TYM will make a deal to sell and then start mining under licence paying a percentage to SRES, thus separating the assets from the liabilities.

now 5.37 Million MCAP - so likely well below net asset value.

so cheap - i had to sell something else to buy more ...

I am inclined to agree, having bought at 9 then sold at 13, back at 8 and sold at 10, then back at 8.5 - 3.5p is a steal.

money is spent now .. and seasonal cashflow throttles purchasing power ,, will have to wait till next months topup to buy more, so hope it stays this cheap till then ...

make them panic and mop them up ...

If the investment plans are tied to their premium stock then the value is only realised on sale. The market is still strong, with prices above previous records. The question remains as to what happens to the investment stock which is held in SG vaults but belongs to SG Investments Ltd ?