Good Morning, what a wet one indeed but positive that we're getting normal weather cycles for those insuring and those wanting to fix their electricity.
CHA (Concha plc (CHA)) was raised recently but meant I was unable to comment, for transparency, there are no known contacts with the company or their associates. The company simply has limited cash and is over-valued on any metrics no matter which way you turn their P&L's.
It did not take rocket science to work out it was a short, save for the chap that became aware of this and thought abusing yours truly would save the CHA share price. Most get fixated at the warrant price when placings are completed, it's a carrot sweetener in the event the company's share price appreciates if it does not then the placees have risked no further money.
For those that don't know, "the company" is focused on the mobile, internet, sports, social media, digital and technology space (sound familiar?). With the recent placing its appalling the market was so slow to react to the obvious (the tank). CHA has all the warning signs over it, a quick perusal of recent holders shows how illiquid it is, coupled with CHA's statement about their share price movement, only adds to the interest.
The caveats come waving at you with this stock, there most recent debacle being the loan to Churchill Media Limited (CML). You'll note in the RNS it states "secured against the assets of CML which comprise investments in a number of TMT and media businesses." It transpires that CHA are now pursuing their former legal advisers for the losses suffered as a result of the failure to register a valid security interest in the assets of Moshen aka CML. One would be wise not to ignore the Pixcom Ventures Limited loan either...There's likely to be some professional indemnity payout on the CML but this still does not validate a share pric above 1 pence. If you're holding long there, good luck!
For those that read Morning Mumble: Afren (AFR) & Hargreaves Lansdown (HL.) & Tesco's to name but a few... and still do not hold Anglesey Mining (AYM), you can give yourself another congratulatory pat on the back. What a dog Labrador Iron Mine was, if you're holding you can get all excited about an underground iron ore mine in Sweden.
Grangesberg Iron (Sweden) couldn't even make a profit in the late 80's at prices of...(20-30$/t) but AYM feels the need to explore these operations, despite fuel being X times higher, in fact all costs being near 4 times higher. But don't take my word for it, today AYM delightfully update the market with a half yearly warning. The warning is my view...one will await the £14m circa impairment. So AYM now jump off the Ferrous Metals ban wagon and pin their hopes on ZINC (non-ferrous metals) in North Wales. Albeit there's "only" 40M shares available to borrow today...
Limited time to cover yesterday's half yearly by Severn Trent (SVT), will come back to this without a doubt though. Their suppliers were under significant pressure which bodes well for the bottom line for SVT. If anyone knows anyone at Mar City Homes, Shore Capital or Wh Ireland, it would be wise if they proofread their RNS's, unless of course they're a Scottish firm Hous Building!
Back later...Oil having woes and gold trading (plus Kefi)
Atb Fraser
Fraser- A good day for you to add to your KEFI holdings today :-))) I didn't see you named amongst the strategic investors but you can have three bites of the cherry there... unless you have carried out your threat and giftaided that is :-)) Perhaps KEFI should rebrand as Confetti Holdings, but many claimants to that name, we could do a Top 20 one day...
ReplyDeleteRe AYM- Yes, I can remember the bulletin board followers planning to visit Parys Mountain with spades and buckets a few years ago, given the complete lack of interest in the "worlds greatest" gold/zinc deposit, which the Romans had a crack at originally before falling on hardship no doubt... the Swedish iron mountain is for when the price goes above $200/lb apparently, so one for the great great great grandchildren fund.
Cheers. The Leggie