Member Info for ringworm

After BF, scanned my portfolio for something to sell at a profit and the only one was BLU which is still unripe, so I guess I will just have to make do with some stamps at auction this evening - 3 lots in to sell so I might push to buying 1 other. At least I can make a profit on them most of the time .....

if I had cash to spare ... or something else that was good to sell ...

The buzzards are circling now. This weeks sale starting today is of good quality stock. I dont know how much is their own, and what is consignments but some lots are clearly of better quality and rarity. https://www.the-saleroom.com/en-gb/auction-catalogues/stanley-gibbons/catalogue-id-srstan10022

https://www.the-saleroom.com/en-gb/auction-catalogues/stanley-gibbons

I believe the sale was of the SG owned stock - see sale description, some pieces made good money. Description was :- Mallett: Taking Stock Comprising the remaining London retail inventory & selected consignment items - so all the London stock is now sold. 4 unsold lots would then go to a general sale, also probably at Bloomsburys.

http://www.dreweatts.com/cms/pages/results/14037 �600K is cheap and only 4 unsold lots

20th Novemeber Stamp Auction https://www.the-saleroom.com/en-gb/auction-catalogues/stanley-gibbons/catalogue-id-srstan10022/

The industry as a whole is booming, and with the beginnings of the "Baby Boomers" taking early retirement at 60, with significant disposable incomes, the probable outcome for the next ten years is for increased growth. Auction prices are at record highs, especially for pre-1950 collections and clearances. Price differentiation between "Investment Grade" and "Spacefiller" material is still very wide. Unbroken collections are very rare to come onto the market. Provided that investment grade stocks are not sold off cheap just now, the future will be good. Especially with a sensible and honest board in place. The business has been trimmed down and streamlined. Stock has been revalued, and now probably undervalued. At worst there may be a reverse takeover by subsidiary such as Murray Payne... or their management.

and bargain basement share price .. https://www.richlandgemstones.com/capricorn-sapphire-mine/ With major stocks held over for this quarter sales.

The way that the big business works is that a small business such as SRES will have to jump through lots of hoops, testing etc, and spend lots of its cash to prepare a case for the big miners, then they will make a useless offer, shake their heads and walk away. Until the demand is strong enough that they have to make a better offer. SRES is exploration and asset holding, so we know that Pozz/Perlite is there, we know the quality, and we just have to wait. There is no value in rushing in to a bad deal. AIM investors like movement upwards, and as realising the value might be a long way off, you must see this as long term. Nothing will happen quickly, but when it does the movement will be so fast you wont be able to buy in before the jump. Its longer term than most AIM investors like, so they see the lack of return and move the cash to something which is moving. Buy now whilst the price is good. SRES owns this stuff, there is just not an immediate buyer. Think of it as a billion dollars in ten years, and no gains in between - but maybe a little dilution.

Just chill and wait, spread is closed up so this might be the last chance to buy in cheap.

on low volumes. Spread opens as they have shares on their books to sell, and no buyers for them. So you can probably buy a few cheap to take up the slack.

in gentle rolling waves .. ->Unless there is a storm ...<-

soon ..

Given that new management look to be more serious than the old bunch of crooks ... I would expect NAV of around 15p a share and with a price of 18p and expected dividend of 0.75p, falling to 16p ex dividend. Because the market overvalues good business, and SGI will have only just returned to profitability after its restructuring. You will notice the turnaround when you see more advertisments in trade press for country specialists, possibly Part Time suitable for retired people. Every time we see a good specialised collection up for auction then we know an expert has passed away, and they are not being replaced.

Though my book price at which I bought was a little higher, but have taken profits twice. Its great to see that BOD is not trying to mislead investors, and 10 Million NAV is net of all current liabilities and after reappraising the stock. The profit margins are good, and with almost 50M in sales this year expected, I would hope to see some bank loans being repaid and a return to profits at next interim statement.

And presents a realistic buying opportunity, and if we see good interim reports we may well see a profit this year.

From their trading loss of 8.8 Million, 10 has been cut by closing the USA marketplace, and 5.2 from interiors, so take 15Million off the losses, and the trend is good. To quote the last paragraph .. The last 18 months have been difficult for everyone involved with Stanley Gibbons and the Directors would like to thank all our stakeholders, particularly our hard-working staff, for their continued support. The restructuring undertaken to date has put the Group in a position where it is hoped its fortunes and reputation can be restored, however there are immediate challenges that still need to be overcome. It is hoped that the conclusion of the FSP will finally allow a line to be drawn under the problems of the past.

Net Assets per share 10.1p Management are turning it round - it was a train crash. But no easy profits here today. AGM in 3 weeks.

BUT website has NOT been updated with current financial results.