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Hi Where is this RED Can someone please.send a.link Thanks
Nice cheeky late night RNS.
In 2014 Ilyas Khan has actually increased his holding of TGL shares by over ten million. This year Ilyas Khan has bought nearly thirty million TGL shares. 29,170,276 to be exact, in four separate tranches (taking him up to 56,083,855 in total), for an aggregate costs of about £101.7K.: 1. Subscribed for 3,273,588 shares: 21/01/2014 07:00 UKREG Touchstone Gold Limited Issue of Equity and Corporate Update "London, 21 January, 2014 - Touchstone Gold Limited ("Touchstone" or the "Company") (AIM: TGL) (TSX: TCH) is pleased to announce it has entered into an agreement to grant 6,547,177 non voting partly paid units ("Deferred Units") at a price of 0.932 pence per share by way of private placement.... The Shares are to be subscribed equally between Robert Buchan and ECK Partners Holdings Limited, which is beneficially owned by Ilyas Khan. ... " 2. Subscribed for 21,696,679 shares: 22/04/2014 07:02 UKREG Touchstone Gold Limited Placing, director change, strategy & TSX delisting " ... The Company is pleased to announce that it has raised a total of US$1,740,000 via the issue of 175,832,276 ordinary shares of no par value at 0.275p (the "Placing Shares") and US$929,589 of convertible loan notes (the "Loan Notes").... ECK Partners Holdings Limited, a Company beneficially owned by Ilyas Khan, has agreed to participate in for approximately US$100,000 of Placing Shares...." 3. Bought 1,700,000 TGL shares in the market: 23/04/2014 13:02 UKREG Touchstone Gold Limited Holding(s) in Company 4. Bought 2,500,000 TGL shares in the market: 25/04/2014 10:41 UKREG Touchstone Gold Limited Holding(s) in Company Since then he has sold 18,250,000, taking him back down to 37,833,855. If he obtained an average of about 0.557p per share, then that means he has taken out the £101.7K. he has invested this year. This may have been a partial consideration, which would suggest that his selling is now over. (It's also more likely that news of his selling would come out once he had finished.) But I also feel that there have been other, more strategic considerations here, which have prompted the I.K. selling. What's clear is that the shares have been hoovered up nicely, and that I.K. was only selling into strength. I.e. providing shares for those who wished to buy at about this price, while keeping a bit of a lid on the share price. In my experience this sort of selling is always a very positive sign.
That idea did cross my mind and it is interesting that IK's shareholding history is being methodically noted publicly.What was odd was the way Waseem spoke about IK as though he knew little about his affairs.I felt he was being overlly low key!!
The met office have green lit the spending of 97 million on a super computer. http://www.bbc.co.uk/news/science-environment-29789208 Interesting how much money there is to be made from super computers...
Good theory hedge, if its the case, and it could well be, then it would have to be very soon as the sale would only influence the sp short term.
Thanks for reporting on your phone call Bampster. The reduction of Ilyas Khan's TGL holdings to a bit below 10% is interesting. The 10%/90% threshold can be very significant (it's the cut-off level in 'squeeze out' actions), so this could well be a deliberate move to help reduce any issue of a conflict of interest with a CQCL RTO into TGL. It's also worth remembering that Ilyas Khan's shareholding in Cambridge Quantum Computing Ltd. means that he would obtain many additional shares in TGL upon a CQCL RTO into TGL. A lower TGL market cap. at the moment the RTO is arranged would therefore (other things being equal) result in IK having more shares in the enlarged entity than otherwise. To that extent, selling TGL shares pre-RTO may well be balanced by obtaining more TGL shares in the RTO as a result. In effect therefore the selling is more like buying. Overall, I would say that recent checks and news on shareholdings suggests that a RTO is now very close indeed. And if the TGL share price has deliberately been kept artificially low for one or more reasons (e.g. award of share options at the time of a RTO), then that should change dramatically in the event of a CQCL RTO here. An instant multi-bagging at the time of a return from suspension would be very possible (e.g. as in the returns from suspension of VMP and WRN this year). I sympathise with your wish for confirmation of a RTO target ASAP Cheseycustard, but I believe that confidentiality restrictions wouldn't permit that before an agreement is signed (at which point the share should be suspended prior to shareholders being given full details). Everything does point though to CQCL being destined for TGL though, and I believe that the company would have denied it if it wasn't the case.
Thanks for getting this info, good work. However this whole share reduction from IK is concerning, when you said should I be worried about it and he said 'he was just updating the market' its sounds like a side step. It all seems a little odd the way it has happened, he has been selling in the background since May (a month after he bought in again) from his holdings in TW Indus (now all gone) and SSSFund which is now practically all gone and you would assume the 2m remaining is going to be sold. Why, if this was coming, did they release the other RNS on the 10th saying 'Touchstone asked Mr IK to confirm his holdings' and it showed us the 9th October postition. If this was in relation to the 13% breach it should have been based on the 18 July position report, as seen in the RNS today. There must be a reason for this, this whole process seems well thought out so far. We could really do with another RNS a) setting out who is going RTO, if thats happening, with a timeline b) or a expanation of IK's current involvement and why his holdings are reducing from his different pots.
I also mentioned to Mr Shiras the fact that there had been substantial buying one day last week and some larger trades were still not showing.I mentioned that myself and a friend had bought over 1m between us and the rise in the sp that day seemed very modest on the true turnover.He did say he would look into it.That day I got a gut feeling that someone did not want the sp to rise,perhaps another holdings RNS will emerge soon?
I just rang Waseem Shiraz about the RNS and asked if there was any reason to be concerned about the gradual reduction of Mr Khan's direct/indirect holdings.He said it was merely updating the market and TGL were still actively pursuing a suitable RTO, specifically in the' technology 'sector and considering a number of opportunities but obviously could not be specific about who they were.I did not press him on the CQ connections/links with Mr Khan,Stanhill and TGL but he did acknowledge them and said any announcement would be made promptly to the market.He agreed that the RTO must be completed by June at the latest and my feeling is it will be much sooner!
Ilyas Khan and his Stanhill merchant bank have a well-deserved reputation for big deals. In view of that, then that's certainly what we should expect here with TGL: a large, high-growth technology RTO (reverse takeover). Quality targets will want to work with a quality shell, with shellmeisters and shareholders who can be of real assistance to their business, and that's precisely what we have here. So even conservatively, I would expect TGL's share of such a RTO to be valued at upwards of £10M. ... if not immediately, then relatively soon afterwards. Which is over four times TGL's current market cap. at 0.6p. And that should be just for starters, with medium and longer term growth following on from that. With Cambridge Quantum Computing Ltd. as an integral part of the enlarged entity, I would anticipate a NASDAQ dual-listing at some stage, and/or a takeover by the likes of Google or Microsoft etc. If that happens, then I would think that a market cap. of hundreds of millions (as I.K. achieved with WEC and ZOL) is quite possible. This being the case, TGL looks to be quite absurdly undervalued at just 0.6p. Even allowing for a steep discount for an element of uncertainty, and the time value of money, then I would still think that current fair value is at least double the current price. This steep undervaluation is probably a pretty temporary state, brought about by market makers persuading the largest outside shareholder (MAM) from the gold company days to part with its shares, combined with the recent market correction. But with that stock gone, and markets recovering, then this buy opportunity may not last long.
The very end of my last post was cut off for some reason. So here is the end of the post in full: Such a strategy makes perfect sense, as it helps existing shareholders to support share price increases that have been made, to the benefit of the company and themselves. And this I believe should be the template for TGL: 1. New shareholders brought in at a low share price, so that they and other 'insiders' effectively control the company. (TGL did this in April.) 2. Large share price appreciation follows, fuelled by an expected or actual RTO (reverse takeover). (This is currently underway with TGL.) 3. Additional funds raised at the new higher levels.
Zoltav, LP Hill, Audioboom, and Concha have all raised money over the last few months at very healthy share prices. In all four cases the share issues were for a share price of at least ten times the share price low, and much more than that in the cases of ZOL, BOOM, and CHA: 18/06/2014 08:01 UKREG Zoltav Resources Inc Completion of Acquisition & Admission to AIM "...Raised US$65,946,418 from ARA Capital, Crediton Invest and Matteson overseas through the issue of 41,216,511 Ordinary Shares at US$1.60 (100 pence)..." 09/09/2014 07:00 UKREG LP Hill PLC Subscription and Board Changes "...Kijani Resources Limited ("Kijani Resources"), an existing substantial shareholder in the Company, has subscribed for 1,000,000 new ordinary shares of 0.1 pence each in the capital of LP Hill (the "Subscription Shares") at a price of 40.5 pence per Subscription Share (the "Issue Price"), to raise approximately GBP405,000 before expenses (the "Subscription")...." 01/10/2014 13:31 UKREG Audioboom Group PLC £8m Placing to support growth strategy "Audioboom Group plc (AIM: BOOM), the digital social media audio platform, announces that it has raised GBP8 million from new and existing institutional and other shareholders to fund the growth of the business. Highlights -- GBP8m raised through the issue of 64m new ordinary shares at 12.5p per share ..." 22/10/2014 07:01 UKREG Concha plc FINAL RESULTS FOR THE YEAR ENDED 30 JUNE 2014 "NEW EQUITY ISSUE AT 4p PER SHARE TO RAISE GBP4m ISSUE OF WARRANTS TO POTENTIALLY RAISE A FURTHER GBP8m AT 8p PER SHARE ..." In the first three cases at least part of the funds came from pre-existing shareholders in the company concerned. In this respect, TGL's recently expressed excitement at the support and leverage of their shareholders looks like a quite striking signal: 30/09/2014 17:45 UKREG Touchstone Gold Limited Interim results "...The new board is delighted to be involved in what we believe to be a very exciting time for the Company as we look to capture some of the significant opportunities that exist in our initial area of focus. Our initial focus has been on the technology sector and we are currently reviewing a number of significant possible investment opportunities. We are extremely excited to have the support and leverage of our shareholders, and we look forward to updating the market on our progress in due course...." Such a strategy makes perfect sense, as it helps existing shareholders to support share price increases that have been made, to the benefit of the company and themselves. And this I believe should be the template for TGL: 1. New shareholders brought in at a low share price, so that they and other 'insiders' effectively control the company. (TGL did this in April.) 2. Large share price appreciation follows, fuelled by an expected or actual RTO (reverse t
Peterhouse Corporate Finance technology shell Touchstone Gold (TGL), founded by current major shareholder Ilyas Khan, is like a combination of twelve-bagger LP Hill (LPH), twenty-baggers Audioboom (BOOM) & Zoltav (ZOL), and thirty-bagger Concha (CHA) before they really took off. A repositioning mining company with legacy assets like LPH. A home for an exciting high growth technology RTO (reverse takeover) like BOOM. An Ilyas Khan RTO vehicle like ZOL. And a Peterhouse tech shell like Concha.
No idea what might happen but if a new advanced technology firm stuffed with Cambridge Uni boffins and headed up by the boss of Stanhill reversed into TGL to get a public listing do you think there might be a demand for shares?
Thanks all for your help. I have one last question. Once this is completed do you think the number of shares available will decrease. The current number is 402 million and this makes me.think this share will be hard pushed to get to 10p as that would value the company at 40 million. What are the views on this
Market corrections can create buy opportunities, as with TGL's recent fallback. But TGL has now recovered to 0.6p, and looks to be climbing again. The uptrend of the last 6 months is still in place, and a great RTO is expected imminently, so there is every reason to be very confident here.
TGL recently said that they were excited to have the support and leverage of their shareholders. Also that they were reviewing a number of significant targets. 30/09/2014 17:45 UKREG Touchstone Gold Limited Interim results "...The new board is delighted to be involved in what we believe to be a very exciting time for the Company as we look to capture some of the significant opportunities that exist in our initial area of focus. Our initial focus has been on the technology sector and we are currently reviewing a number of significant possible investment opportunities. We are extremely excited to have the support and leverage of our shareholders, and we look forward to updating the market on our progress in due course...." They've been doing this since at least April, so news should now be very close. Their initial preference may have been dropped, but I believe that was some while ago. TGL might be packaging together more than one business prior to the RTO, i.e. Cambridge Quantum Computing Ltd., and another complementary tech company. This would create an entity bigger than TGL, for the RTO.
Thanks all When I Google RTO it stated that the larger company had to be the one using the shell (tgl) so it can't be too big..can it
Oh yes,the largest private shareholder in TGL is the non exec chairman of CQ who is the CEO of Stanhill who funded CQ.I suggest you look at the websites for Cambridge Quantum(there is a link on the Stanhill site) and Stanhill,look to see what Stanhill do!
I don't get it then. Either tgl takes steps to devalue the market value of its shares o/s, as was happening very recently, or CQL is simply going to remain too large foe tgl and a.n.other shell will snap it up. Which is it?
When I spoke to the Company Secretary in early October he said they had a deal lined up but decided not to proceed.He said they were actively looking now.He did say Cambridge Quantum were not large enough at present.Depending on the RTO company reversing in,the sky's the limit,particularly if it wassomeone like CQ.
Once all this goes through what are people's hopes for the top end of this share.