Member Info for saigonsally

NG is not a trading share - at least not for me. Yes, it falls after it goes ex div but you accumulate the divi in the form of extra shares and after a few years you've doubled your investment even without startling growth in the share price...

Excellent FT article (behind paywall but can sign up to read a few free articles without subscribing).

"The FCA intervened in Amigo’s court case to argue against approving the redress programme that would have capped the lender’s potential liabilities for historic complaints, and has signalled its opposition to another scheme being developed by Provident.

“We are realistic about the amount that firms can pay in redress as a result of consumer complaints, and as a result of their practices in terms of [repeat lending],” said Sheldon Mills, the FCA’s new executive director for consumers and competition. “But we’re not so realistic that we think shareholders should take most of the benefit and consumers should take very little of that.”
Basically smug FCA then emabarks on sob childhood story as justification for closing down this sector.

Article discusses the huge problem of fake claims: “we’ve all had this issue. 50% of the claims we receive, we’ve never even dealt with the customer.” (Paul Smith, Morses Club)

Article seems sympathetic but on balance with this FCA who seem to relish rather than lament the closure of 140 year old Provident one would have to say the story does not bode well for AMGO shareholders. I hope to be proved wrong...

No share collapses like this without good reason. I feel a fool for still holding

Looks as though the Master Investor article has breathed life into IGE
https://masterinvestor.co.uk/equities/image-scan-holdings-a-real-penny-stock-gamble/

Any article that begins: "It's typical of tin that it didn't make it onto the International Energy Agency's (IEA) list of metals needed to power the clean energy transition." has to be worth a read...
Thank you. SS

well spotted... nice to have more coverage

As Lodes has demonstrated GF is owner of several other Greenland exploration companies/ licences. Am I alone in wondering what conflicts of interest there are? He says in the Zak Mir interview that spinning off Alba's Greenland interests is to enable management to focus on Wales and Ireland but he will, no doubt, be part of the Newco as well as his existing two Greenland businesses and he needs to demonstrate to us that we Alba shareholders are not being short changed. I agree with the spinoff of our Greenland assets but will be watching GF like a hawk.

Careful Amones, you are tempting fate with that last sentence...!

Mark, well spotted. On the FOS website it also states this:

As one of the creditors under Amigo Loans’ proposed scheme of arrangement, the Financial Ombudsman Service was invited to vote on the scheme. We voted to approve it. This vote was made in our capacity as a scheme creditor. It should not be interpreted as reflecting the Ombudsman Service’s view on the fairness of the scheme or whether it provides appropriate consumer protection. A letter explaining our vote and the reasons for it in more detail was submitted to Amigo and the Court in May 2021.

Whether the scheme is fair in relation to the consumers who are Scheme Creditors is ultimately a matter for the Court. We understand that the FCA, as Amigo’s regulator, has also considered the fairness of the scheme and whether it secures an appropriate degree of consumer protection – find more information about the FCA’s role in proposed schemes of arrangement on their website.

No, I have not tried Binance and would not go near it after reading the stories about them eg: https://www.coindesk.com/locked-out-binance-users-accounts-frozen-for-months.
And this from this morning: https://www.reuters.com/technology/binance-under-investigation-by-justice-department-irs-bloomberg-news-2021-05-13/
HSBC is preventing transfers out to any Krypto and - more importantly - transfers back in!

I own shares in Drumz and I am marginally ahead but I totally fail to see the point of this company. At a time when business is being brought to its knees by cyber attacks surely this one should be flying. The fact that it is sinking leads me to suspect it is utterly useless. Nick, you own them - or used to - is there any reason to hold?
SS

Marc, if you can figure out a way to buy them directly I would love to know how. I have an account with Coinbase but unable to fund it from any UK bank or debit card. I shan't try again for fear of getting the bank account closed down. I do have some Krypto via Revolut but their selection is quite limited.
SS

I assume he means you, Davey...!!

Very disappointing. The board cannot just sit there and watch the gains evaporate like this. Perhaps they are terrified a Hong Kong listing will have no discernible effect...

ICP currently NOT supported by Coinbase

Yes, tech - and that's without mentioning Crypto... There is no doubt that sectors come n go and I strongly suspect people are steering their wonga away from HCM to where it can do them more good!
SS

Thanks Davey, most interesting. Would have loved to have seen reference to our HCM but nevertheless a positive article.

Hi j33v3s, yes, indeed I bought RGO and PIRI last year and am delighted with the way things are going. RGO has always been the plodder but the last couple of days have seen a new dynamic. Exciting stuff but I feel on surer ground when spikes like yesterday's are accompanied by or triggered by news.

Given the similarities I don't understand why RGO should be soaring ahead while PIRI is in reverse...

Surely if you're going to change your name you would make it mildly appealing rather than some anonymous dull 1970s sounding name. The announcement was so boring I could not read through it but I assume from the reaction there was no mention of a listing in Hong Kong (why the hell not?).
Growing tired of this tedious underperforming company which promises much but delivers so little.