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Started: CorbyDealer, 19 Dec 2023 20:58
Last post: CorbyDealer, 19 Dec 2023 20:58
My elderly father notionally owns over 4,500 shares still. Or does he: what can he do with them?
Started: Pearls, 3 Aug 2022 11:42
Last post: Pearls, 5 Sep 2022 21:52
What a sad end to what was once such a star in its field. Frankly, the whole thing has put both me and fellow shareholders [and stamp collectors] off Stanley Gibbons for life.
Presumably that was the idea.......????
I suspect the company is now going to undergo a degree of financial engineering on its accounts following which [in a few years by which time Phoenix judge that everyone has forgotten this debacle] no doubt it will come back onto the market as a re-born company with no debt etc to entice a new load of investors in!! How these things are allowed to happen.......just remarkable
Hi devonplay, I'm also invested in HBR and DARK. HBR is now near £4 with GS forecasting sp of over £6 with higher oil and gas prices en route, their major shareholder will wait to sell if it has any sense !! DARK are currently over 540p having announced takeover interest from a US private equity firm during the week. I can see a £6 bid before the Sep 12th (?) deadline !! These two are good defensive stocks for a Ukraine Russia 'military exercise' !!
DARK, HBR, or SFOR. They are all great companies LOL
- isn't HBR nearly 30% down since may and it's major shareholder is selling out?
DARK, HBR, or SFOR. They are all great companies ...........all best avoided if you ask me.
Conflict of interest, loaning money and also investing in a company.
(1)A director of a company must avoid a situation in which he has, or can have, a direct or indirect interest that conflicts, or possibly may conflict, with the interests of the company.
Andy, your comments duly noted but I will be giving ARB a miss. I disagree on the investibility of bitcoin nowadays, and now the regulators are all over it, the attraction of anonymously buying it are disappearing down the drain. ARB is the best in its sector, but again, with the record fuel prices, how can one invest in such an energy devouring company?
I've spoken enough about SGI to last a lifetime and vented my spleen over how unfair the deal is to shareholders, but it is Phoenix who will have to deal with the ensuing PR disaster from this unnecessary take over they decided to do.
Stamp collectors are a close knit community and this will have gone down really poorly with them - indeed I have received phone calls already from a number of very disgruntled investors who have also had to sell and are now never going to buy from SG again. It was a completely unnecessary deal that screws the main supporters of the company! That's a great idea, isn't it?
Anyway, as you say, onto better things with my new liquidity and you will find me on DARK, HBR, or SFOR. They are all great companies with very narrow spreads and there are often volatile movements.
Started: Clued, 24 Aug 2022 18:20
Last post: Clued, 24 Aug 2022 18:20
24-Aug-22 11:59:25 1.645p 30,000 Buy* £493.50 !!
Why buying if can only sell at 1.50p ??!!
Started: Pearls, 25 Jul 2022 14:45
Last post: ross62, 27 Jul 2022 11:45
Looking at todays trades it looks like a couple of people didn't get the message
Thanks Devon - comments duly noted and agreed with. In fact I can now answer my own question as it would appear that 75% at least of investors have backed the deal so it is going ahead. A raft of late advised trades were advised last evening, so it is now a done deal.
I just hoped Phoenix would be more positive for the shares, sadly this was not to be, but at least I am now out of such an illiquid stock. I just feel sorry for the staff who, I agree, are irrelevant frankly to Phoenix's longer term ambitions and presumably are completely disincentivised by the deal.
Presumably this also now negatively affects the market valuation of Castelnau given the constituent parts of it, but this has been a salutory lesson - it looks like I will be sticking to trading DARK and HBR going forward.
"I would like to know one thing - why do you think they have pulled the plug on the listing now? "
- it's easier to attribute value to a private company than the public one. There's no weighing machine that is the stock market.
- they failed to achieve the momentum that you expect of a growth stock, the trading looks and feels poor
- it saves them money on listing costs..every penny must count.
- it's easier to carry out "restructuring" outside of public scrutiny. Public turn-arounds can be painful when every one can read, and comment, on the required "list" reporting.
- it's time consuming, private company consume less over head
- I've also wondered that at some point, it becomes a subsidiary of one of their other vehicles. That might shore up under performance somewhere else IF they eventually turn SGI around.
I don't think the staff matter much in this, as I've said before, I think the only value in SGI is the brand (hence 0.5 valuations) and the existing staff are just grist for the Castelnau mill.
As you've said you before....they are masters of financial engineering. Unfortunately, in this case, that could be at the cost of SGI ordinary shareholders.
Companies with a controlling entity often get heavily discounted for the reasons we are seeing here. What you've readily described as a supportive shareholder....was really always a great big flash red light...screaming DANGER.
If you are suggesting that one shareholder is privy to more information that the market "privy to much fuller figures" that's bad news for minority shareholders like you.
You are nothing more than flotsam and jetsam...with SGI it's the dictionary meaning "The remains of a shipwreck still floating in water"
It's been a floating ship wreck for years.
Devon, those are good comments. In fact I agree with your analysis.
I would like to know one thing - why do you think they have pulled the plug on the listing now? My contention is that they are privy to much fuller figures behind the scenes and can see there is some sort of turnaround developing. But it does seem to be stopping staff from participating in the turnaround and you would have thought it to be very unpopular with the company. Why is it being done now, in your view - after all you have queried why Phoenix have kept the listing in place for some time previously?
Phoenix will preserve their assets in default, the Magenta returns to them and they'll convert their debt into equity after default. By your calculation, but you've not taken into consideration the holding of other collective vehicles, which you presume the Directors have already been in contact with and that's why they are confident about the de-listing going through. If the it fails on a vote, it will be pushed through under the statutory powers Directors have to avoid a company trading in an insolvent manner. They'll negotiate with Phoenix, that will result in them not being a going concern and they'll transfer ownership to them for a pepper corn value. They wouldn't lose their shareholding, they just gain 100% ownership out of the insolvency. They wouldn't losing anything of value, just the cost of being listed. Debenhmans, like SGI, had multiple creditors, but like SGI, Debenhams had one major stakeholder in the form of it's Sterling bond issuance. They formed a creditor committee and operated in unison. So it's in fact very like SGI. If there's a chance that Phoenix will withdraw it's funding line, other creditors might take the step to pushing SGI into a wind up, if the Directors don't do it before hand. I believe Phoenix will act first, and with secure their position, in default, ordinary shareholders will be washed out of the mix.
Started: Pearls, 22 Jul 2022 11:01
Last post: Pearls, 25 Jul 2022 14:19
another decent purchase just gone through - this opportunistic bid at 1.5p is looking increasingly likely to fail.
Little take up of Phoenix's cut price basement deal for the shares.
In fact there seem to be some buyers emerging this morning!
If this continues, it may force Phoenix to pay more..........
427m shares in existence, so 4.27m = 1%
Friday turnover was about 3%, so far not even 0.25% sold to Phoenix.
Castelnau,
Lets pretend.
Let's say you had a strategy to buy bombed out stocks, and then try to pump them on a chat site....could you ever admit to making anything less than small loses? If everyone knew the strategy was a disaster. How little notice they'd take. If they knew you were chalking up huge losses all the time.....better to talk about profits and little losses.
5 NIL :)
'For me, I have to admit, much as I was a fan of the company, my large shareholding had become too large to sell at ordinary prices, so it had become a prison for me, especially as I averaged further down. '
Pearls how do you only make a tiny loss when you bought in at 50 times or whatever what you just got? 'Averaging down' JUST INCREASES THE LOSS when dumping at 1.5 PENCE.
Thanks look forward to reading it, enjoy the Festival !!
Started: Pearls, 1 Jul 2022 10:29
Last post: Herdie, 22 Jul 2022 10:05
Pearls meet Karma, Karma meet pearls, Smart move on your part not taking that bet I offered !
Spread 400% I'm going to accept 0.6p as a win, it's much closer to 0.5p than 20p.
Where is Pearls....oh yes, ramping another loss maker. Best short indicator on the site.
Proposed Cancellation of Admission to Trading on AIM..........
All systems are going to remove this from the market, as I've said plenty of times over the last few years, almost 3, I've always wondered why they bothered with a listing and now it's come to pass.
Phoenix will de-list and then quietly increase the "private" value in their other vehicles.
On the positive side they are offering shareholders 1.5p. So an up day for SGI!
Interesting comment in the RSS:
· there is also a limited free float and liquidity in the Ordinary Shares with the consequence that the AIM listing of the Ordinary Shares does not offer investors the opportunity to trade in meaningful volumes or with frequency within an active market.
Something that I've said over, and over again. There's been very little free float....but not according to out bull.
"The Directors are aware that certain Shareholders may be unable or unwilling to hold Ordinary Shares in the event that the Cancellation is approved and becomes effective. Such Shareholders should consider selling their Ordinary Shares in the market prior to the Cancellation becoming effective (either pursuant to the Standing Purchase Order referred to below or otherwise)."
But then again in the panic....we might hit that intrinsic goodwill value and reach 0.5p today....there goes "share of the year"....another burning wreck Pearls.
Rather heading to m-cap of £0, with inevitable delisting soon it's sadly bye-bye to another sinking ship.
Maybe, but I've been much more accurate than your 20p by last December prediction ;)
> heading to a market cap of £2-3m.
Started: Ecologist, 22 Jul 2022 09:04
Last post: Ecologist, 22 Jul 2022 09:04
What a great example of how incompetents can destroy a great company.
Started: devonplay, 29 Jun 2022 08:30
Last post: devonplay, 29 Jun 2022 08:30
NFT market is collapsing with sales down more than 87% from it's ATH!
ZeroHedges advice, get clip art instead. It will often be free LOL
https://www.zerohedge.com/news/2022-06-28/nft-market-collapsing-sales-down-more-87-its-ath
Even those bored apes have crashed 50%
SGI > 0.5p
Even Pearls has given up.
Started: giantsquid, 20 Jun 2022 22:05
Last post: giantsquid, 20 Jun 2022 22:05
With so many great FTSE companies at rock bottom prices, why people choose to invest in illiquid penny stocks on aim at a time like this is beyond me. Why take such risks? Ordinarily you could argue it's difficult to find undervalued stocks on the FTSE 350, hence why you have to look to aim for such opportunities. But right now, the FTSE 350 is littered with bargains - you're spoilt for choice! Passing by such opportunities in favour of high risk aim shares is the definition of madness.
Started: Pearls, 10 Jun 2022 17:27
Last post: devonplay, 17 Jun 2022 10:42
"SGI reached an all-time LOW yesterday at 1.2 PENCE.
Down -10% this morning, if it closes weak at the end of day it might just beat that record next week.
It’s all self-explanatory anyway.
SGI reached an all-time LOW yesterday at 1.2 PENCE.
That does not occur with Red Hot shares. :-)
Pearls
Posts: 4,536
Price: 1.40
Strong Buy
Devon - where are you?Fri 16:27
Non stop comments when the price is dropping, but when it rises you are nowhere to be seen?
And where are the other doom mongers?
Sounds to me like it's not going to plan for you....
Pearls, maybe you take a leaf out of your own book, walk your talk and not be one of the doom mongers currently posting on ARB and other boards!
Classic nonsense from Pearls "Sounds to me like it's not going to plan for you..."
- 50% loss over 12m months and with a enormous 33% spread and "it's not going to plan" for those wise enough to give this one a miss. LOL
That's why this remains the funniest thread on the site hahahaha ;)
You get these abhorations with penny stock, 33% spread LOL, but the algo never lies. 0.5p still looks about the right price.
"Sounds to me like it's not going to plan for you..." LOL says the person who thought we'd be at 20p by last December. Classic stuff.
Started: jayblu48, 14 Jun 2022 22:00
Last post: Everup, 15 Jun 2022 15:08
Pearls
Posts: 4,539
Price: 33.50
No Opinion
The effects of inflation - even the costs of buying old stamps are now rising sharply.
Peals, thanks for posting that on another share BB. Even Pearls is worried about SGI now.
posting on ARB board, SGI will hit new lows soon, too much debt now so any money will go to Phoenix, nothing for shareholders, karma for Pearls.
Started: Newguitarfund, 26 May 2022 15:40
Last post: CASTELNAU, 8 Jun 2022 15:36
Down to 1.26 PENCE yesterday (not 1.2 pounds as it was not long back!)
We then will have a true PENNY STOCK any day.
One or 2 here, (quite likely SG staffers) will chime in, right on cue, that is a 'GOLDEN BUYING OPPORTUNITY'. And that 'there were 6 people in the store today - things are really looking up'.
To the rest of the real world, it simply heralds the death throes of a stock that was several QUID a share until totally hopeless Management were appointed.
We've reached the inflection point, that moment when the delusional bulls realize....it's slipping away...maybe we can save the day by throwing insults about. Never works.
Next they'll throw their hands up in despair, throw the towel in and sell. Driving us quicker to the final destination....0.5p.
It's the next leg down into the valley of despair LOL But we might, just might, bounce off 0.5p
"The Directors believe there is a material uncertainty relating to the Group's position as a going concern."
If a company is technically insolvent but being supported by the directors or major shareholders, because they are confident of it's future potential, the directors are legally bound to include the above statement in their report.
You are a very sad case.
You are a very sad case.
Started: Pearls, 5 Jun 2022 12:34
Last post: Pearls, 5 Jun 2022 12:34
Very busy shop yesterday
Started: Pearls, 1 Jun 2022 10:52
Last post: Ucohentrick, 1 Jun 2022 14:11
If you bear in mind that one of the characteristics of stock exchanges is that their mechanisms are rather set up against you - it's nothing unusual.
This is becoming unremitting, set against very little volume. For us shareholders this is deeply dispiriting.
When is this trend going to reverse and why is it so steep now when according to the last update [in April], things were really going well at SG and recovery beckoned?
Started: Pearls, 24 May 2022 12:19
Last post: Victoria6May, 31 May 2022 18:38
There seems to be a myriad of issues to deal with, particularly for certain categories of assets. I wasn’t thinking about tax.
Are you thinking there's a problem over US/State taxation? They could come as a show for first tranche US investors.
Welcome to the market place....and here's Uncle Sam's request for tax. ;)
"The error of selling in desperation" now we get it Pearls, you meant desperately selling to USA based customers when the relevant approvals weren't in place ;)
I agree Victoria, it might be significant if they've been stopped from doing it. It's going to reduce any potential market and be a problem with any US citizens that bought into the first tranche. I doubt there will be any clarity, they are too in charge for that, so it's a crippling wait to see if they get the "market" up and running before July and if this is BIG issue or not.
Just to repeat my point from another thread: Showpiece’s web site states they are no longer accepting purchases from USA based customers. This must be significant but does anyone know why the restriction?
Started: devonplay, 16 May 2022 08:58
Last post: devonplay, 24 May 2022 12:14
(-6.45%)
I'm expecting the price to collapse from this point on.......
"My algo is pointing to this being down another - 5-6% today. There's sometimes a lag, but it's been pretty accurate up to this point. Not a recommendation."
Bang on the money again.......0.5 still my target.
Sorry fat fingers
How will they market the Magenta? They aren't exactly setting the social media world on fire (1500 odd Instagram followers). It feels more and more like the idea was dreamed up as a way of justifying the Magenta purchase. I don't see how this helps SG in anyway. Plus it's so public they really can't be making much margin.
I've just been having a look at showpiece. I'm not confident in the concept as a business but feel this Warhol will be very telling. SG have a database of clients who are interested in stamps and coins via Baldwin's. They don't have a database of art collectors so who will they market thi
And the -40% decline in consumer confidence. That's going to be a big issue, people on fixed incomes, of pension age, will be effected and there's going to much less interest in "dead" money assets. I'm still at 0.5 target.
Started: Pearls, 23 May 2022 10:48
Last post: CarpeDiem1, 23 May 2022 22:37
Most of the Sectional catalogues are simply not profitable. The Commonwealth catalogue and Collect British Stamps are the moneymakers. SG would probably be better off not publishing catalogues but sub contracting, but it is nice to control the price level of the things you are selling, which is why SG have always kept publishing in house.
Victoria, the point is to remind everyone that SGI still issues catalogues, and that the publications dept is still relevant to them and an earnings stream - indeed it made a profit in the twelve months to 31st March 2021.
Many more catalogues are due to be issued soon - these add considerable value to collectors doing the hobby and their catalogues are sold around the world.
According to the April 2022 RNS: "After a much reduced catalogue production schedule in recent years, the Publishing division is once again regularly producing stamp catalogues. Combined with increased efficiency in this part of the business, market share gains in magazines and further progress on the digital product side, we expect to see continued improvement in performance here."
So what’s the point, Pearls, in advising us that two new catalogues have been published when they are irrelevant to the shares?
Victoria, at the 6 month mark c£700k.....on which (I believe) they lost c£70k.
What percentage of the SG business is in publishing?
Started: CarpeDiem1, 14 May 2022 10:33
Last post: Ucohentrick, 15 May 2022 17:17
2 good posts again from you, Paerls. What is it else to say. I have amassed some reasonable amount of shares so unless it goes lower, much lover, probably I will not buy more; instead - funds permitted- I’ll be interested to buy some fractions in Showpiece. Both for the Shares and Showpiece investors I can see only the upside. But time will tell as in every kind of investment. But I can’t help thinking that the market is doing every effort to nail this share down to every next bottom. But if that’s really the case, it’ll end up in even more spectacular returns!
The other issue I forgot to mention is the aspect of the 1c magenta. Will this now appear as an asset on SGI's accounts? If so, this alone will make an enormous difference to their asset base and in turn should reflect onto the equity position.
We won't know where in the Phoenix operation they are putting the 1c until the oncoming results, but since the stamp is very much identified with SGI, I would expect it to be part of our accounts. That will make a material difference to things.
You should look at the ten year graph on this share to really see how it has had an unbelievably wild time on the stock market. Frankly, you will then realise that anything is possible going forward......
We all know the business has been through a nightmare, was loss making, and critically depends on Phoenix for its banking / loan position.
But things are changing now, and I do not believe it is loss making any longer. This is partly due to the revenues from Showpiece rolling in, but also that trade / auctions etc are all picking up and 'normalising'. In addition a number of new catalogues are due to imminently hit the shelves updating a range of out of date material. Turnover appears to be growing nicely, helped as well by the growing internet offering.
As regards the debt, the better question might perhaps be: what level of funds has Phoenix sunk into SGI and could it get this back currently? We have discussed this at length on here, but initially they bought a 58% equity stake for £19.45m and then wiped off £7m of old RBS bank debt, replacing the old banking facility with a new Phoenix one on kinder terms. I think the current level of debt is around the £16m level, but there are other inter-company debts etc. The point is that suppose the total cost to Phoenix has been around £40m, then no, there is no way either that they can get the money back in the near term, or that there is any point at all in calling in the debt - it cannot be paid off and they will also obviously have to wipe off their large equity stake - completely pointless.
Therefore what has to happen here is that proof of the company's growth and stability has to emerge via oncoming trading updates - the next one is in early July / late June. Once the shares appreciate enough, I would guess they will hold a rights issue to pay down the debt. This won't happen until the shares properly recover somewhere into double figures, but if Phoenix were to waive some or all of the debt, it is the same position actually - the share price will rocket, meaning Phoenix's holding becomes a lot more valuable. Currently it is underwater - they bought in at 2.5p a few years ago. As Devon says, this is a bottom drawer situation that is not going to suddenly radically improve tomorrow, but will improve over time. It is time, most importantly, that Phoenix are now providing, allowing the business to effectively trade out of its past problems.
Eventually, when things are much rosier and the share price is unrecognisable compared to today's levels, I expect Gary Channon will sell the company to someone like Sotheby's or a big US auction site but that is some time off.
Just a question now of having patience and waiting it out.
Incidentally, stamps and coins are normally good assets to hold to counter inflationary risks - this again may be a positive period for the group as a result.
Have been following this thread for a while and enjoy hearing what everyone else on here has to say, so thank you all. I agree with Pearls that SGI has possible significant upside. However, I also believe that the share price still has a long way to fall before eventually recovering:
1) The business is currently loss-making, and this full year will be the same. The RNS mentions that turnover will be about £12m. Although I assume this figure excludes sales of fractions via Showpiece, and although profitability on turnover has improved, £12m turnover is simply too small for the group to be trading profitably for the year, even discounting the loss of close to £1.5m for the first six months. Ultimately, it is the PE that counts.
2) You must remember that SGI is essentially going to go bankrupt unless Phoenix cancels the debt. This is certainly a possibility, but we simply don't know. Having watched a lot of interviews with Gary Channon, he makes a big deal about Phoenix always making sure it gets its money back in a worst-case scenario. Unless the company can get back to profitability, Gary and the team may well lose faith in the company and call it quits. The fact that they hold the debt means they can and will get their money back should the company fold, and everyone else will be left without anything.
Sorry Pearls but I fear you are incorrect. FT article actually mentions Showpiece purchased the work for £315,000 from Tanya Baxter: https://www.ft.com/content/b8735abd-d67a-4eb5-b44f-06dae86094f8. Carpe seems spot on with £400,000.
Started: Pearls, 10 May 2022 10:20
Last post: Pearls, 12 May 2022 11:44
Agree ucohen. Whilst I would like the Warhol to be an expensive one, logic tells me that the market for fractional ownership is not perhaps large enough currently to deal with an item costing much more than a couple of million pounds. Even the 1c did well, but only when advertised. Afterwards, sales were slow.
I suspect that a bit like other asset classes, there are a body of investors / interest groups that monitor each new offering, however they only have so much buying power or interest in the item being offered.
The Achilles heel, if you can call it that, in all this is that Showpiece has to buy the item first in order to get the fractional rights to it. That means holding illiquid assets for extended periods of time.
If they plan to sell the next item for say £50 - £100 per fraction, I would say their Warhol is probably valued at around £2m maximum in order to allow a reasonable level of fractions to be sold in it.
Still, the publicity over the one sold for record amounts cannot be a bad thing.
I was trying to find something like the link you posted. I wouldn't expect every item to be priced at let's say... £1 million, for an argument sake. So "the Queen" presented there was sold for £352,800 which isn't bad at all, is it? - The estimate was £70,000-100,000. It looks rather encouraging and positive to me.
It is very likely the next showpiece will be a much cheaper Marilyn. Warhol drew many of them in different mediums. See example.
https://www.phillips.com/detail/andy-warhol/NY030122/40
The point is Victoria that it shows the value of the Warhol art. Clearly ordinary people cannot buy such art, the only way then is via fractional ownership. I think the sale has been excellent publicity, although I don't know if SG or Showpiece are capitalising on the connection given a Warhol item that looks similar to the one recently sold for a record amount is their next item to be sold via Showpiece.
Rather a stretch to link the Warhol art item to the prospects for Showpiece and through them for SGI but I suppose only time will tell. However, the market doesn’t seem to have been excited by the connection which I think tells us a lot.
Started: Pearls, 29 Apr 2022 19:13
Last post: devonplay, 6 May 2022 16:05
No, I didn't have any exposure to McColls. I have been buying REA prefs and Sterling issue and I'm likely to pick up some of the Miller Homes junk issue that's just happened. I take little interest in press speculation and try to just apply my own view's of the potential for the acquirer. If that doesn't stack up, then I'm happy to miss out if I've got it wrong. I'd rather miss out than gamble and loose cash. I didn't think Ashley was going to make an offer on acceptable terms, but I think I said that at the time. Saying that I wouldn't suggest opening up a new position in REA today, too much of the juice has already been squeezed.
FCA....they need to be less involved and not more.Even better, we shouldn't think there's ever easy money to be made in the market.
Interesting few days, lots of things getting well marked down. I'm sure that will put pressure on SGI. I mean, why buy speculative, when you might be able to buy quality at a discount?
I've got 10% of my portfolio hedged with inflation projection. That's taken a bit off the correction, but I'm sure there's more pain to come. I think DARK look vulnerable. I'm sure you'll disagree. DARK could head south and stay there. I keep looking at LMP. I've always thought it's a quality team and it's getting a kicking at the moment. I'm also thinking about TLEP/TLEI they could be effected by a global recession but less than oilers. They are the only listed "green" stock that appeals.
Devon, out of curiosity, were you involved on the debt for McColls? That is a real nightmare for shareholders today. Luckily I missed that one, but I do think the news that Morrisons might have been preparing an offer in last night's press created a false market, and as a result a lot of retail investors have lost again. This does remind me of Debenhams where a day or two before admin there, Mike Ashley was supposed to be making an offer.
It seems these last minute 'rescue offers' are exactly the opposite., but in both cases large numbers of investors bought in thinking a rescue deal was about to be unveiled. I do think the FCA needs to look at these sorts of announcements more heavily and ban them if they are not actually likely to proceed.
Sellers out again today> soft end to the week, softer than Wednesday's 6% drop? Maybe.
That’s certainly one way of looking at it.
Cannot believe the size of drop since the recent update. Clearly the message is not getting through at all.
Down nearly 6% today, we are edging towards that predicted 0.5 pence. There's going to be a lot
of pain here.....
Started: Pearls, 21 Apr 2022 20:40
Last post: Everup, 22 Apr 2022 17:24
Maybe Pearls instead of doing the hokey cokey you should go long on ARB. It’s going to do far better than SGI, you’ll see. Each to their own, all the best.
Everup, it might interest you to know I have been in and out of ARB a couple of times in recent months, and made a decent return. The problem is that it seems to have lost its volatility. Personally I think it is quite undervalued now, the problem is that bitcoin just has to drop a small amount and it seems to overly affect the ARB price.
Seems to be far less interest in it now - a lot less comments and the share is not moving much but seems to have a large spread which can be difficult.
Hahahaha.....
As you’re desperately ramping SGI on other boards Pearls, I thought I would return the favour - with much better prospects too.
https://twitter.com/ArgoBlockchain/status/1517210858241155072?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Wonderful, so it says it in the RNS, and as they so, "wont be payable until 20 March 2023." "interest will ACCRUE at a rate of 5.0 per cent. per annum"
"it just won't be enough to make sizeable inroads into the debt mountain," so we are agreeing on something.
So that means the only hope is Phoenix to forgive debt, when they've clearly extended the obligations and indicated they are accruing the interest......sound a bit like they aren't going to trade their way out of it ,and shareholders only comfort is the crumb of hope. I can see why you feel the need to "ramp this shi7 on loads of other non related boards today" as @Daytradenovice so elegantly puts it LOL
Started: Hamilton13, 21 Apr 2022 17:59
Last post: Ucohentrick, 21 Apr 2022 20:11
There's a real chance that the company may report a small profit for the full year, and the chance for it should be even bigger in the interim results in November... Then the market will have to re-rate the price here even if it doesn't want to.
On what metric? There's no earnings, and unlikely to be for the future, so it comes down to goodwill, and assets, presumably the assets are security for the debt.... that can't be serviced, they are in default, in fact they are having to increase debt levels, so it comes down to good will and value in, what appears to be a diminished, and from a shareholders perspective tarnished, name. Hence once the support from speculators has cleared and if they keep selling over the next few day, sensibly 0.5p is on the books.
Nevertheless the current market cap is ludicrous for a business that includes Stanley Gibbons, Baldwins, Murray Payne, etc.
Pearls......I certainly consider my comments fair otherwise I would not have made them.
Overheads....look at the top "execs"., marketing , etc.....sure they got rid of a lot of staff...but there are still issues...they have also recruited since cuts..
You are right SG is known internationally for the catalogues, ....not for dealing or auctions....
Before Phoenix.....well... they may have at least had some staff who knew about the philatelic business!!
SG will never be strong in auctions....they cannot compete....they have nice hard working staff in auctions but there is no gravitas there...and the catalogues are a disaster...I would guess designed by "marketing people"
Trade shows and exhibitions.....these are in a crash dive that is likely non recoverable...as I have said the dynamics are changing.
You ask who is "top of the stamp trade"....SG are in the dealing arena...but there are many others .....and as for auctions....well...Spink, Corinphila, Grosvenor, Argyll Etkin, Cavendish.....others are creeping up....Harmers....Corbitts, etc .
I have been involved in stamps for almost 50 years ...I have good relationships with most auctioneers and traders, including SG, for whom I have a particular fondness but they lost the way some time a go.
Its sad....but the reality has to be recognised.
Started: Hamilton13, 21 Apr 2022 14:12
Last post: devonplay, 21 Apr 2022 14:54
Pearls....you are going into melt down. Please stay away from naked flames and falling knives....!
Lol Buy more , you've changed your tunes some much over the last few day.
0.5p....see you there and I'll pick some up myself.
Hamilton, do you consider your comments are fair? On what basis do you consider their overheads are not under control? They have got rid of a lot of staff. International Goodwill / brand recognition - cannot agree with you. Their catalogues are the only ones in the public libraries, equally for the English speaking world, their catalogues are the main ones bought, especially for [ex] Commonwealth / UK collectors.
Absolutely agree that the old management [prior to Phoenix's involvement] were not good enough but the current management are all new since then.
Where SG are not strong enough currently is in auctions but that is being firmly addressed and the reopening of trade shows and exhibitions must help.
If SG are not currently top of the stamp trade in the UK, who is?
Oh dear.....its not good.....I am surprised that SG is still struggling on.
Some say..."overheads under control and at a bare minimum"...They are not...
"International goodwill"...it does not exist....the "brand recognition" has been in decline for a decade plus...
Sadly SG has lacked astute philatelic leadership for years...it continues to do so.
SG will never regain the "top of the game" position again....
In combination with the above is the ever changing dynamic of the philatelic collecting world.
Started: Pearls, 19 Apr 2022 08:28
Last post: Pearls, 21 Apr 2022 14:41
Devon, in answer to your query - yes - I am still happy to buy more. I accept it looks like a falling knife, but I have seen the shares rally fast as well over the years, it has not always been downwards. I think the recent update did not deserve this response, at some stage it will dawn on investors that this is a bargain. Clearly those who were holding hoping for a dividend are now disappointed, but in the real world, was anyone holding this stock for dividends? I do not think so.
For me, the real issue is what happens next March with the debt level. Pretty clearly Phoenix have a lot of skin in the game on this one, I cannot see them not coming to the table to do a deal. They now need to do a deal that re-establishes value to the equity - after all they do own 58% of it!
Shredding, have to agree with you on this. Both the Stanley Gibbons brand and the Baldwins brand are well known in their respective areas, they do have value. Also of value is the Royal Warrant - again - what company in this field holds one other than SG? Then there are the other businesses in the group - how can they all now be worth so little?
Devon, I can't agree with you about the fractional ownership not being a success. They have only put two items on sale, one which was very expensive, the other much cheaper. Frankly, both looked to me like experimental offerings in an unknown market. The coin sold out rapidly but it was a small offering. The stamp is clearly selling slower now, but sales react well to publicity and I do not think it was their aim necessarily to sell out straight away. Instead I think they intend to sell a further tranch of the fractions in say half a year's time - there is no hurry after all. It looks to me like the biggest error if there is one in all this, was allowing SG to only have a 20% holding of Showpiece. Since so far it is only SG's items being sold fractionally via Showpiece, I would have hoped for their shareholding to have been over half.
But you will also note that "goodwill" hasn't stopped the business going bust on at least 2 previous occasions and being on life support now. How much that goodwill is worth is debatable, for my money ,a couple of million as I've indicated. I see very little value beyond goodwill at the moment. Lots of promises, but as we know they aren't worth much in the cold light of day. Invariably, it could go bust again if Phoenix come under more pressure. That's why I comment on the DTY and Castelnau IPO. For clarity, I have a small position in DTY's corporate debt. I think our are right about the timescale bing five years, my worry is that in 5 years if they don't make any success of the fractional issues, they haven't so far, their core client base will be that much older.
You invariably seem to show no idea of the goodwill internationally of the Stanley Gibbons brand.
To me, the current share price is one which the market has fixed to establish a good 2-way trade in the shares again.
Started: Pearls, 4 Apr 2022 13:42
Last post: CarpeDiem1, 15 Apr 2022 17:49
Yes Devon, the ridiculousness of NFTs laid bare.
In his defense though, the millions paid for the nft in the first place was at a charity auction, so some good actually came of it.
Man who paid $2.9m for NFT of Jack Dorsey’s first tweet set to lose almost $2.9m....
Crypto entrepreneur Sina Estavi made headlines in March 2021 when he paid $2.9m for an NFT of Twitter boss Jack Dorsey’s first tweet. But his efforts to resell it have run aground, with a top bid of just $6,800 as of Thursday.
The initial purchase was at the time among the most expensive sales of a non-fungible token, or NFT, and came amid a flurry of interest in the niche crypto assets.
Estavi put the tweet up for resale on the popular NFT marketplace OpenSea last week, initially asking for $48m.
That price tag was removed after offers in the first week were in the low hundreds of dollars. As of Thursday, the highest bid was 2.2 of the cryptocurrency ether – equivalent to about $6,800.
“My offer to sell was high and not everyone could afford it,” Estavi told Reuters via Twitter direct message, adding that he was no longer sure if he would sell the NFT.
“It’s important to me who wants to buy it, I will not sell this NFT to anyone because I do not think everyone deserves this NFT,” Estavi said.
But Estavi was confident in the value of his purchase.
“This NFT is not just a tweet, this is the Mona Lisa of the digital world,” he said.
https://www.theguardian.com/technology/2022/apr/14/twitter-nft-jack-dorsey-sina-estavi
$2.9m >$6,800
......when that secondary market gets going,
14-Apr-22 09:38:35 2.20 25,000 Buy* 2.10 2.20 550.00 O
14-Apr-22 09:38:21 2.20 25,000 Sell* 2.20 2.30 550.00 O
14-Apr-22 09:11:17 2.225 10,000 Sell* 2.20 2.30 222.50 O
14-Apr-22 08:25:58 2.225 914 Sell* 2.20 2.30 20.34 O
.......sellers in control?
" if this stock was a bit more liquid." Hang on, when I've said this stock has poor liquidity in the past you've disagreed and said there's plenty of liquidity. LOL
"once the shares rise as I'm expecting......" well you've been saying it for 3 years, so...maybe it's 3rd time lucky. haha
"Four buys, yet the price has dropped. Why?"......because for every buyer there has to be a seller and it looks like they are keener to sell more. I'd hold out, if the weakness carries on, you'll get a better price and then maybe your 1,495,000 will be at 1.5p
Devon, I'd happily go ahead and buy if this stock was a bit more liquid. Problem currently is that I will probably only be offered under 2p if I wanted to sell such a large line of shares. I'll probably kick myself for not doing it on the other hand once the shares rise as I'm expecting.......
On the other hand, take today - another example of things not making sense. Four buys, yet the price has dropped. Why?
The Company normally issue an end of year update at this time of year, is one being issued?