Athol Gold Share Discussion Threads

[markd4] 29/6/2012 14:17

Lets look on the bright side. TW is gone, thank God, so we can close this chapter for good. If the board are savvy and get some talent in who a) is not a self interested spiv and b) actually knows what they are doing, we might just do a Woodburne Square (another TW catastrophe I got slaughtered by) which has risen from the ashes as Stratmin Global and is now very tasty.

[robbie125] 29/6/2012 13:18

Yes, they have sacked TW, but not before he has virtually destroyed yet another company and cost shareholders millions. They are still not prepared to release an upto date NAV, which would reveal the further value distruction that TW generated upto his sacking. No info as to what they paid either.

[the_boy_plunger] 29/6/2012 12:23

tom numb has left and results out

[robbie125] 29/6/2012 10:37

I don`t think the sharks will attack one of their own. Don`t expect that overdue NAV any time soon.

[anslow] 29/6/2012 10:21

i was hoping a shark attack

[huntie2] 28/6/2012 19:24

Let's hope he gets a bad dose of food poisoning and sunstroke!

[robbie125] 28/6/2012 14:18

TW posting on Sharecrazy that Ascot is cheap and all will be well in 2 years. His final message as he leaves for warmier climes for a while.
Expect some weak numbers tomorrow.

[anslow] 27/6/2012 12:36

start a witch hunt for tom soon

[noirua] 27/6/2012 11:15

Desperate men do desperate things and rules can go out of the window in the emergency room of life and death -- ask EK, as an accountant doing the books for t1ps and having experience of so called magic accounting albeit elsewhere, yes indeed, he be the man to ask and answer.

[jennis2002] 26/6/2012 22:02

TW must be removed as Chief Investment officer ... how do you want to go about this?

[orado] 26/6/2012 13:35

The only thing TW is running - is running away.

[robbie125] 26/6/2012 13:15

When TW ran RIVP results were announced on the last day before the 6 months expired. Now he is running Athol the same thing is happening. Bad numbers take longer to produce.

[stueybabes] 26/6/2012 12:37

Aren't the results due soon? They have be released within six months of the year end don't they?

[robbie125] 25/6/2012 09:47

Noirua,
You are right. The Oilbarrel purchase can hardly be regarded as at arms length. TW owned 30% of Rivington when RIVP sold Oilbarrel to Athol. TW then sold nearly half his shareholding in Rivington.
The directors of Athol then tried to reverse the deal when they realised what their Chief Investment had sold them. Unfortunately, RIVP may have difficulty repaying £0.5m because of the other cash payments it has to make, particularly arising from stage payments on acquisitions that TW made.

[noirua] 25/6/2012 08:36

Should there be an investigation as to whether the original decision to purchase Oil Barrel Limited was made at 'arms length'? This has led to the sum of £575,000 advance payment being held by Rivington Street and not having to be returned until September: Being held against Oil Barrel does mean a further risk is being taken by Athol.

[skirby] 24/6/2012 20:18

I was invested through wsip conversion. This is a dumping ground & thus is of no concernable value. Beware as there is no floor.

[huntie2] 23/6/2012 06:42

I think TW should be removed from everything. He's only out to help himself, not the PI. If he should ever come into my local......!

[robbie125] 22/6/2012 16:32

The key point is that TW must be removed as Chief Investment officer of Athol.
TW`s main source of income now appears to be as acting as a consultant to T1ps.com where he has a rolling 2 year contract. Vitually all the investments held by Athol are clients of T1ps.com ie T1ps.com is paid to promote their shares and TW and the others at T1ps continually issue buy recommendations. Therefore it is highly unlikely that TW will ever sell any of these shares and even worse if these companies require more cash TW can use Athol`s resources to meet those needs.
To remove him is even more important now that independant managers have been appointed at the Tips gold fund in the form of Webb Capital. Msny of the investments held by Athol are also owned by T1ps gold fund. Webb Capital has no incentive to continue to hold the dross, which will increase the pressure on TW to support the dross via Athol`s resources.

[argy2] 22/6/2012 15:45

Hate to think what nav is at realisable values!

[bam bam rubble] 22/6/2012 15:43

The best way to monetise PLUS holdings is to use a listed entity as a proxy which buys them for cash or equity, as TW did here. Large holdings are almost impossible to sell on the market so AHG has little choice but to hold on to them and will die a slow death as the cash runs down. Its use has been served - to engineer those PLUS holders a suitable exit by conversion to Athol shares. TW tipped it every so often so PIs bought in creating liquidity for the existing PLUS holders to exit.

[noirua] 22/6/2012 15:33

0.33p NAV was as at the close on 25/1/2012.
I'm not sure about the selling of Ariana, if that is so, as the low market cap and their ability to borrow against their Red Rabbit Project is moving well. It's more the untangling of all those Plus market holdings with only a few able to be cashed in.
The market looks to be giving very little for Plus market holdings and today's NAV may be down 30% since January giving an NAV nearer 0.23, though the market shown valuation fincludingPlus holdings, rarely traded, may make it nearer 0.26p.

[robbie125] 22/6/2012 11:48

Noirua,
Was the last NAV. as at 25.1.12 or was it at 31.12.11 released on 25.1.12?
If the next NAV is at 31.3.12 it might not be too bad.
The T1ps. gold fund which is the nearest proxy did not start to drop precipitously until after 31.3.12. It is now down 30% in the last 3 months. Jim Mellon has fired TW as the manager of the fund and it is now managed by Webb Capital who have started to sell down some of TW`s favourite bets such as Ariana, which is also held in a big way by Athol. I believe that Athol is also currently a stock held by T1PS. gold fund so Peter Webb may be looking to dump that as well. I am afraid all these cross holdings are really toxic in this sort of situation.

[noirua] 22/6/2012 09:23

The last NAV for Athol Gold was 0.33p a share on 25th January 2012 and no announcement has been made for the quarter to about 25th May 2012.

[robbie125] 21/6/2012 17:37

Another bad day for Ascot - off 10%. Yesterday`s RNS was just a lot of hot air!
TW was out of his mind to punt so much of others people`s money at this one.