Member Info for silverknight

MrT. The 5 years I mentioned referred to Bird's tenure and not your holding.

I suspect Mankayan has been bottom drawered for now and Bezant has no control over its destiny so can't report anything. The financing issue would seem to be the next hurdle-very soon.

Be fair MrT. You've always been one of Bird's biggest supporters and made excuses for the shambles that has unfolded over the last 5 years.

MrT. Am I missing something? We originally had 100% of Mankayan valued at around $70 million based on Goldfields mooted offer around 2012. We now have 27% of a shell company that may or may not list with Mankayan as its sole asset. Fantastic deal for Bezant (not!!!) All smoke and mirrors from Bird.

M/c still at parity with the other two holdings. Trouble is they keep falling as well

MrT. Mankayan is a huge project. Even if they get finance for it now (very unlikely) we wont get any benefit for years. There's no obligation for an unlisted vehicle to provide updates. Time is the enemy r ight now.

Sadly, AIM is awash with microcap/micropriced corporate garbage (mainly in mining and pharmas). Guys like Bird come in and promise the earth and bleed them dry. Mankayan was worth $90 mill 5 years ago according to him. Feel a bit sorry for Prickly who ( I believe ) has about 30million shares?? Ouch. Companies like this need a speculative frenzy to make people money. That's passed. I suspect there might be some small enterprises looking to pick over the bones as this expires.

Settlement date anybody?

Looking for 5% yield this year and bright prospects. An overlooked gem

Hopefully this is now a base price unless.

1. There is a serious market correction (meltdown) or

2. The dividend is cut. I see that BHP has reduced their dividend and this is a significant holding.

Jittery

Mondex. It's actually 90%of taxable profits (not income) that must be distributed. A whole different ballgame.

MrT. Frankly, it hardly matters if Bird can get more suckers to take another billion (or so) shares to cover the loan repayment. He is on a time buying exercise. Sadly many people seem to confuse low priced shares with cheap shares. This falls into the first bracket. Next two months are critical it would seem.

Hi MrT. I think the lenders are over a barrel here. They can't demand money that the company doesn't have and the assets are virtually all intangibles. There's an overwhelming sense that this company has lost control of its destiny. Bird has made a series of poorly judged deals instead of remaining focused on the core prospects. The issue of billions of shares has created a massive (potential) overhang. I suspect the average downers have dug a deep pit for themselves. Lets see what the next 6 months bring. ATB

Totally bizarre (and worrying ) that a PLC needs to issue shares at rock bottom price to settle a bill of under £42k. Petty cash surely. Bird is desperately trying to buy time before everything implodes

Agricore. Good points made. Sp seems geared for a major setback. Sells showing today are actually buys (including mine)

Ultimately, if the divi IS safe then i feel the downside potential is very limited. A frustrating share but i'm inclined to buy a few more at this level to boost the ISA income.

Mr T. Yes , I noted an £86,000 spending commitment on acquisition. The fact is that anyone suggesting a sp of .05p to you a year ago would have been dismissed right?. Somebody with 35million shares 10 years ago would have owned about half the company. Today less than half of 1%. All these billions of shares go on to the balance sheet as debt (to shareholders) and create an overhang. The market knows that another issue will come at some point which is why the sp is under water and all shareholders are losing money

There seems to be an endless capacity to self delude with this company. The main focus (currently although that can change in an instant with Bird) is Hope but this business only cost £1.14 million in 2020. Yet there seems to be expectations that it will return millions in profit. If so why sell it so cheap and why has nobody bid for the whole company by the same logic? Birds mission is to keep the company ticking over to keep his fees rolling in. Remember when he took over in 2018 and claimed that Mankayan was worth $90 million? That's the fantasist leading this company. People have been talking this up as the sp has plummeted from over 70p 11 years ago. That's the reality sadly.

Ultimate desperation measure to issue huge number of shares when the sp is flat on its back. Just buying a bit more time. No wonder many have finally given up. Death by a thousand cuts but Bird wont suffer.

Results this month.

Because offices are perceived by some as the weakest sector in commercial property. It seems to be factoring in lower demand and reduced rents as leases expire. Certainly scope for a rerating if conditions hold steady and I'm holding on for now.