Member Info for Soldtoosoon

Sorry, Bankrupty - bloody predictive text!

Bankruptcy

The presence of Eric Sprott in any gold mining company guarantees nothing except a great deal of hype. He can pick winners, but he can also pick major losers too. I suggest you have a look at his involvement in Pure Gold (PUR) before you quote his name again here. PUR found excellent grades, built a mine…..and then went bust because they couldn’t mine profitably. Sprott was loaning them money to keep the show on the road right up to the end. On a more positive note, I’ve been a holder here since 2020 and I haven’t been this positive about the future direction of the company for quite a while. I’ve always believed in the resource, and, based on his actions to date, I’m starting to believe in Claude.

Well, the absurdly high dividend hasn’t deterred me: I’ve just bought my first tranche! Been looking at this ever since the big fall in early October, and from my perspective the naysayers seem to be running out of steam. As a new LTH I hope Rusty sticks with BBs as this will stop the share price rising too much and then I can buy some more on the cheap as soon as funds become available.

Anybody have an idea why Rogue Barons share price appears to be in free fall? You can now buy the shares at a 30% discount to what Chris Akers paid GUN for his 3m. Recent distribution deals suggest the Shinju business is progressing, so is there an issue with the De Rhum Spot venue?
Otherwise, the various mining shares appear to have bottomed or have started to reverse (e.g. First Tin) so I risked a small top up last week. Need some positive info on Low6 to start an upward move in the share price.

Time to wake up SVE shareholders! RNS arrived today from GGP indicating that Newcrest want to buy the 5% that they have an option on (which expires in December 2022) a whole year ahead of time. GGP currently up 17% and rising. Net result of the Newcrest move is that, by the end of Feb 2022 we’ll have an official valuation of the true value of GGP. What’s that likely to do for the SVE share price? Have a guess. Personally I think it’s time for a top-up!

Have to say that I thought my last message would generate a bit of a discussion about how the company is managed, but it looks like Callum and Gemma aren’t the only ones here asleep at the wheel of their investment vehicle! The tumbleweed rolling past in the background is almost palpable. Anyway, I promise not to disturb everyone’s slumbers again until GGP shows some signs of stirring!

I think it’s reached the stage where SVE shareholders are entitled to ask exactly what we’re paying Callum Baxter and Gemma Cryan for, with shares or otherwise? With the exception of Cora Gold (and even Cora has fallen nearly 50% from its year high), every one of SVE’s investments (and that includes GGP) has fallen massively in value since the turn of the year. Basically these 2 are asleep at the wheel, but still getting paid for it. If, as some say, SVE is merely a discounted play on GGP, what don’t Callum and Gemma sell off the non-GGP investments, use the cash to buy extra GGP stock and divide up the GGP shares amongst existing SVE shareholders. I for one would be very happy to get 1.4 GGP shares for every SVE share I hold. Of course Callum and Gemma won’t bother to do this while they’re getting paid to do f*** all!

wcbham; sorry you had to bale out with a loss. I recall that in mid September you asked “why are we seeing lots of selling?” At the time nobody who actually knew was saying. Now we all know; no dividend and a new acquisition involving significant dilution. I know it’s no real consolation but you might like to take a look at Ince’s biggest institutional investor, Ruffer. On their website they say “ Our preoccupation is with not losing money” . By my calculation, from the highs of mid- April, they’ve lost £3m! Good luck with your other investments!

Well, it’s taken a while but I’m back above water on the top up mentioned above; just need a bit more of a rise to get my entire holding into the same place! A little disappointed that whilst my holding in GGP went up 35% in value last week, my holding in SVE only went up 15%. I originally bought into SVE to cover the possibility of a sneaky takeover offer by Newcrest. I still think that’s a genuine possibility, but it may be a way off yet. Interesting challenge for the BoD to move the share price closer to the NAV/share as this is no time to be selling any more of the GGP shares! Anyone have any thoughts on an alternative strategy to reduce the shortfall to the NAV?

My phone is struggling with a link. Try a Google search of “Gunsynd Aim Rule 26” - it’s the first result. Then scroll down to the Significant Shareholder info. As far as I’m aware Chris Akers isn’t an officer of the company and his shareholding hasn’t dropped below 3% (plus of course he’s not privy to any significant insider info - lol!) so no need for an RNS. I think you can be confident that CA hasn’t sold any significant number of shares since mid August or that certainly would have triggered an RNS,. Perhaps he had to sell part of his shareholding to fund the purchase of those cheap Rogue Baron shares?

It’s on the Gunsynd.com website under Aim Rule 26. Under Significant Shareholder Information dated 16/08/2021, it lists his holding as 15million shares , 3.33%.

Maybe the market is taking its lead from Chris Akers. In March he held 6.19% of the company; as of mid August that was down to 3.33%, despite him getting 3m shares in Rogue Baron from GUN on the cheap in the interim. Unlike Chris I haven’t sold half my holding (and sadly no cheap Rogue Baron shares for me), but I am looking to average down - it’s just that I’m not sure that the SP has formed a bottom yet. Maybe I’m stupid but just not brave enough (yet)?

Some good observations damofarl, particularly the one about the old style partners club. Been here since January and was looking to top up if they declared a dividend. The BoD seem to be backing away from that, which hasn’t done the share price any favours. It seems clear that the market remains to be convinced that Ince’s business model can deliver profitable growth. I would suggest that the revised BoD needs to work with what they have to deliver some profitable organic growth before they make any further additions. Holding (for now) but DYOR.

Well, the SP wasn’t static today! At a SP of 16.5p the MC is now only £10m, despite the NAV being £16.5m. Maybe it’s a falling knife, but I just had to buy a few more today - 16.65p seemed desperately cheap for what’s on offer here, but DYOR just in case.