Corvus Capital Share Discussion Threads

[bubface] 25/9/2008 07:27

you keep mentioning this £1.6m canisp loan when the equity of the company is valued at a couple of hundred grand in it's entirety...probably worth nothing unless you can prove it's worth par?
doesn't look like you should get your hopes up on cmm returning to the "glory days" after the results today,another exit stage left by the regan?

[the drewster] 24/9/2008 15:40

I am on drugs, but for medical purposes only.
1.6m convertable loan to Canisp.
6.8m in cash from sale of CMM.
over 88m SRSP shares.
These alone add up to over £10m
Cash burn will be addressed, and the cash will either be used to buy one of the many significantly undervalued companies out there, or returned to shareholders.

[bubface] 24/9/2008 15:36

" a nice situation to be in"! are you on drugs.they are selling everything they can at whatever they can just to meet the overheads.soon there will be nothing left but the "minor distractions"....former glory don't make me laugh.

[the drewster] 24/9/2008 15:29

They have cash from the CMM sale of 2.4p per CVS share. They also have a few quid to come if CMM recovers any of its former glory.
Sirius now valued at more than twice the CVS entry price.
A few other minor distractions (holdings of negligible value today), but a nice situation to be in, buying a cash asset at less than face value and having other potential multi-baggers in for free.

[bubface] 10/9/2008 20:16

basically a bunch of share pushers who have been found out....harvard securities mk 2.

[n1ck_leeson] 09/9/2008 11:25

i imagine 'special situations' will be burning some cash on l&p fees if the next big deal is just around the corner!

[n1ck_leeson] 09/9/2008 10:59

they have been burning some cash on the sirius petroleum deal - apprently its shaping up to be something quite promising. i'm interested so sitting tight.

[a2584728] 09/9/2008 10:31

Regan will have spent the cash on his lavish lifestyle, someone at the LSE should have serious look at this situation, this is public money he is wasting on 5* hotels, champagne and flashy restaurants.

[the drewster] 09/9/2008 08:27

I would like a little more detail on what has happened to all the cash. They took over £1m in divi from CMM, then had whatever was in the coffers before, then get this "initial" 6.8m ... but that takes cash balances to only 7m when I thought there was considerably more. Sirius (of which I remain sceptical) appears to be the potential multi-bagger already in the fray, but if the 7m is squandered on salaries and expenses I will be somewhat frustrated with our top man, as I am sure will many others.

[humbugg] 09/9/2008 07:55

looks like the market cap is about the same as dosh from CMM, what else is in the business to give it a premium on todays price??? top deal drewster???? im all ears.....i think.
H.

[waldof] 09/9/2008 07:40

So you won';t be investing then 'topvest'?

[topvest] 08/9/2008 21:42

The extra cash just bides them more time to dream about a mega deal, of course paying themselves very handsomely for the pleasure of that dream. The money will be squandered imho until there is nothing left.

[bubface] 08/9/2008 21:30

and how good is the collateral on the £1.6m loan to canisp... another major disaster from the regan stable that is loss making and has a market cap of £500,000?

[the drewster] 08/9/2008 16:52

Very little? Recently announced a loan of 1.6m to Canisp which can be converted to shares at 1p each or repaid (at Corvus discretion). Also wads in GGT (now SRSP) so hardly "worth very little".

[a2584728] 08/9/2008 16:39

If you read the text of the RNS it states that CVS now has circa 7m in cash, he has netted 6.8 from this deal so lets hope that he has some more stashed elsewhere to cover the overhead.

The investments are worth very little so lets hope there is a strategy of some description.

[waldof] 08/9/2008 16:32

Despite the howls of derision that i am likely to attract i am in no doubt there is a serious game plan.
Remember that at the very least AR paid 8 or 9p for his stake here, and he is not going to see that disappear.
A deal wil be done - and a good one at that.

[the drewster] 08/9/2008 16:32

So the proceeds to be received within 7 days are in excess of the current Market Cap, and all other investments thrown in for free.
In these depresed markets, there must be some real multi-baggers to be had if you have the cash and access to more cash, so roll on some sort of recovery.

[a2584728] 08/9/2008 16:23

It may be nice but why sell down here, clearly greedy Regan needs the cash to keep paying his Dorchester bill and expenses as they don't have enough cash to do a meaningful deal.......do they?

[waldof] 08/9/2008 16:17

Nice.Very nice.

[topvest] 07/9/2008 18:19

These guys don't understand "low cost" - they only think "big"!

[bubface] 07/9/2008 17:32

be interesting to see cmm results due before end of month and hopefully strategic update from new ceo to see if a recovery is due on that front.having seen the shareprice crumple under the weight of poor quality of floats and extremely high overheads i'm not too keen on selling the company back to the management on the cheap if their is a recovery to be had.in the meantime can only hope that the overheads are being brought down further to be commensurate with a micro cap non operational investment company.

[topvest] 07/9/2008 16:36

Yes, can see this quietly going private. It's never done any real deals and paid it's directors ludicrous salaries with a head office in Geneva and the UK. Lots of talk and cash paid out; no real action.

[humbugg] 02/9/2008 08:03

waldof,
:-)) good luck with your punt. they aint getting any of my dosh. busted flush imho.

[waldof] 01/9/2008 16:51

Now thats what i call an appropriate user name.