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SMT Ben Alligin
10 Nov 2015
Scottish Mortgage doubles bet on 'unicorn' start-ups Scottish Mortgage Trust (SMT), the top-performing global investment trust, has revealed for the first time all of the unquoted technology companies it hopes will power investor returns in future.Half-year results released today show the £3.5 billion fund now has 10% of its assets invested in companies that have yet to reach the stock market.The proportion in privately owned technology companies has more than doubled from the end of March when the fund held £150 million, or 4%, in unlisted companies.- See more at: [link]
MIRL Kempseyman
10 Nov 2015
Re: Benavides influence in Peru I hope you are right and there are no criminal charges upheld against BD. He gets my vote.
QPP melrosian
10 Nov 2015
Re: Edison Research Points to A$ 592 Millions ( ie £275M) PBT in the next 2 reporting years.See: [link] reason SGH is going to have £0.275 Billions PBT in the next 2 years, is that the current Board sold it for £0.6 Billions rather than try to arrange an additional £0.04 Billions over 18 months to enable it to process the WIP on the QPP PSD books. Pity. SGH on the other hand was able to arrange a debt and equity package to allow adequate working capital finance after buying the PSD.You may note that Edison has the 2017 forward PE at 3.9. based on the current sp, TW has them as poltroons. If they can make £0.275 Billions in 2 years perhaps that descriptor is not apt? I suppose SGH could be having a cash flow crisis. It would be really odd to carry out a lengthy due dilligence exercise & then set up immediate post deal trading with inadequate working capital finance . A cash crisis is improbable. The shorties need a weakness to expoit. I think we know that if there is no material weakness they will try to ensure that there is a perceived one. Many QPP shareholders have been stripped of wealth as a result of the attack on QPP. My sums suggest that QPP probably needed £30M to get to the real cash generative bit. SGH has thrown a lot more than that at the WIP negative cash dip. If SGH can trash perceptions of a cash flow crisis ( lets say they are really cooking by gas next apr) then the shorting brigade will have a problem. That does not mean SGH will rocket up immediately, but in the next 2 years there is a good probability that they will bank overall £0.2 Billions PAT and reduce borrowings by a material amount. Who knows the SGH PE might then match that of REDDE Plc ( 22) .(If you dont know what that should do to the SP , you shouldnt be investing.!)I remain aghast that the Board persuaded shareholders to sell rather than deal with a short period of overtrading. I would have recommended a trebling of the £4m fees if they had done so. Worth it. In the meantime TW wants you to think SGH has a problem. It is more likely that he is the thick one, or just unethical or worse. mel. Mel
MIRL Kenj2
10 Nov 2015
Re: Benavides influence in Peru Personally I do not see any room for compromise here. Both sides are so deeply dug in, this will be a battle to the death. As regards the statement: "If DG wins he will have some serious corporate governance issues not least that TSX might not accept him with the reported criminal investigation in process."This is just a red herring thrown out by the company. Diego has been charged with nothing. The company have not even made clear what he is supposed to have done. There was no reported internal investigation, instead he was sacked immediately. Just days before Hodges was kicked out at the August AGM. Coincidence, or had the BoD (Team Hodges) counted up early postal votes and realizing that Hodges was toast, decided to remove Diego as well?Despite the original company statement below they still have given no details."Minera IRL Limited announces that the Board has unanimously voted to remove Diego Benavides from the position of Interim CEO of Minera IRL.""The Company is also investigating allegations of impropriety received through its recently implemented and independently managed Whistleblower hotline. The investigation will be overseen by the Company's independent members of the board, Doug Jones and Robin Fryer. Additional detail will be provided as it becomes available."Is it not usual to suspend someone until the charges have been investigated by the company? To sack him before an investigation, suggests that there is no need for any further investigation; he has already been found guilty.I for one do not want a compromise. The current BoD is rotten to the core as far as I am concerned. The local Peruvians will not work for them and neither will the Peruvian bank support them. They must go, or this company dies.
QPP auntysatia
10 Nov 2015
Re: Good news, bad news Perhaps someone should point out to him that if "Most Quindell shareholders have lost money on this fraud", then they will not have to pay CGT.They will be able to offset their loss against any other capital gains that they have.And I'm surprised that his piece didn't make mention of how wrong it is for people to lie to KPMG!!
MIRL Kempseyman
10 Nov 2015
Benavides influence in Peru I feel that the existing board are underestimating the degree of influence that DG has over the communities where MIRL has operations. Unfortunately both sides have adopted quite extreme positions and the end scenarios could be that if the current board win, then actions taken on the ground in Peru such as blockades and loss of community goodwill may effectively block production.If DG wins he will have some serious corporate governance issues not least that TSX might not accept him with the reported criminal investigation in process.I met DG a few years ago at Mines and Money in London (the sp at the time was c.45p and I bought some more shortly afterwards!) Spoke to him for 10 minutes or so and all the time he was impressing upon me how important the mining was to the local community and his personal pride with being connected to a company which had the potential to grow massively and improve the lives of his countrymen. I would urge the board to find an accomodation and work with him. It just seems to be 'my board is better than your board!' Well why don't you consider splitting your differences and move on with a mixed board? Keep DG in charge of operations on the ground but a board position might be difficult with the TSX at the moment.Any thoughts?
IVE city watcher
10 Nov 2015
Re: round and round............. So Carl Turpin started in 1968 working for John Laing Construction, also trained as an accountant 4 years on , and was a General Manager for Total Oil Great Britain Ltd. in 1979.Besides some other successful businesses, he started Oakdene Homes plc & during 11 years was responsible for considerable growth of 120 fold to a £100m business but unfortunately fell victim to the credit crunch and so was liquidated in 2010.He seems very confident in this latest venture for S E Land and is hoping to raise £1m witha 1p / share placing. This is open to anyone with shares in Online Financial Services or Irvine Energy that may also be held still in certificate form from the past. Believe theconsolidation that Irvine Energy did was 200 - 1. S E Land need enough takings from the placing to enable them to go ahead with The Lake House apartments project and that being over 1/5 of the £1m. I'm in when I receive the documentation.
SBLM Sprocket60
10 Nov 2015
Re: large investors Yes, just had a look & there are some well known fund names there. Will be part of their portfolio for a higher risk fund i would imagine.Bought into this myself on that basis & dont mind holding till news gives a decent spike or the reverse spike as we all dread. Was in at 0.704p a few weeks ago mainly on the basis of their partnership for the power station coal supplies. Looks a pretty good gamble & is worth the risk if all comes together.Have been following Lonmin for a few Months but not holding stock. This company has been totally ruined by bad management & hope that this companies Board are more investor friendly...
JII Hugh from H Q
10 Nov 2015
World wide investment choice Have just made liquid, a modest ISA holding.Also been on the look out for the next choice, and here I am wondering about this I. T. Am looking at a 5/7 year investment and ask for your opinions.Their fund size is £640.000000 and my understanding is that the manager receives 1.2% Or £768,000 this year. As ever we the customer/investor are n ever offered a guarantee.Could this be the One?Forward and On.
QPP Orchard Gate
10 Nov 2015
Good news, bad news One of Winnifrith's more subdued comments on QuindellThe good news first. Subject to Court approval then shareholders in Quindell (QPP) will – thanks to the idiocy of the buffoons at Slater & Gordon – almost certainly be getting a special return of 90p per share in time for the New Year. Now for the not so good news. Don’t spend it all at once.Because that 90p is subject to CGT. You may not have to pay CGT. If you are a council house dwelling chav who thinks £1000 is a big trade the odds are that you will be under your annual relief for CGT. Since you are dumb enough to own Quindell you probably own shot like Globo, blinkx and Worthington too as so may well have capital losses to offset against the 90p gain. But if that is not the case then brace yourself for a tax bill next year. So what else do we learn today? Quindell wants to change its name to Watchstone Group PLC. Why on earth would it wish to ditch a find brand like Quenron? Aha. The Serious Fraud Office Investigation. Quenron says that it continues but the rozzers have not said whether individuals or the PLC will be on the hook for fines, prison or an attempt to reclaim ill-gotten gains. It reckons that it will have enough to weather any fines that are levied and also to deal with the £9 million of claims lodged against it by investors using YLF. Personally I hope that Quenron is not stiffed too badly by the SFO in terms of fines. If the SFO does plan to stiff the PLC it will flag this up by trying to scupper Court approval for the distribution. But I think that unlikely. Most Quindell shareholders have lost money on this fraud (the shares which peaked at 650p are now 97p). Those who gained, making tens of millions were fraudsters such as Rob Terry, Steve Scott, Hassan Sadiq and Larry Moorse. Justice dictates that they lose all their ill-gotten gains and their liberty not that long suffering shareholders take another beating. But on the off chance that the SFO/YLF/ongoing cashburn wipes out net cash after the 90p (£414 million is paid out) Quindell directors will be on the hook for any shortfall. They are brave men paying out now. Quindell says that post distribution it will have £90 million cash which is c20p per share. But it is clearly burning cash at £3 million a month from its remaining hotchpotch of frauds and non-businesses – if we compare today’s statement with the last results published in September – has a potential bill from YLF clients and legal fees and also any SFO fine so that number will fall steadily and potentially dramatically. It may also receive up to c£39.6 million from Industrial Deafness cases being pro cessed by S&G but recent statements from the Aussie poltroons make me think it will be lucky to receive a fraction of that if anything. And then there is £50 million held in escrow accounts from the S&G deal. This is the great uncertainty. Given that S&G is now facing its own cash crisis I regard it as more than likely that it will try NOT to release those funds but to reclaim them. The share price of Quindell tells you that I am not alone in thinking this way.
NBI CASTLEFORD TIGER
10 Nov 2015
Re: management support I suppose you got about 10p profit.....not bad as %.I am now sitting on a 25% gain in a very short time ( the shares adding a further 8% today)Tiger
AMFW Kenj2
10 Nov 2015
Re: Where's Lambrini gone? My point is that you posted a BUY a week before the results were announced, but you NEVER posted a SELL. The sp has dropped about 230p since the RNS.So how does that make you right?
QPP auntysatia
10 Nov 2015
Re: Consolidations My guess is that from an accounting point of view the 90p that is being returned is made up of 14p relating to the nominal share value plus 76p from other capital reserves.
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