South China Resources Share Discussion Threads

[nobull] 23/12/2007 09:51

TP, thanks. Yes, I wouldn't be surprised if they can do something good in Africa, but the question for me is why have all the worry that they are just in it for themselves (the large admin expenses) . Also they appear not to tell their shareholders how things really are on the non price sensitive matters (like the real reason for withdrawing from Zhunuo). (I assume it is a criminal offence to knowingly mislead the market on price sensitive matters in an RNS).

[ananinginainana] 23/12/2007 08:12

This one was playing in mine!

Crazy 'bout my baby
I can't stand her low down ways
She's a dirty mistreater
Mistreats her daddy ev'ry day, o lord
Why she treat me so low down
Well you know!
She's a dirty mistreater
I'm gonna leave this lonely town!

[togglebrush] 23/12/2007 08:01

Last night this old tune which I haven't heard in years was playing in the Bar

Know when to hold'em
Know when to fold'em
Know when to walk away
Know when to let 'em run

Decision time ...

[paulbrownau] 23/12/2007 05:03

tippingpoint "they should do well there then given their negotiating capability" would you hire them then ??

[tippingpoint] 22/12/2007 11:34

Nobull the irony is that to sell mineral deposits in Africa seems to heavily involve Chinese participation nowadays..... they should do well there then given their negotiating capability

[nobull] 22/12/2007 11:13

Off topic: Yes DTC your Matra sounds very good, but I like others too: FRR has a rather binary outcome on imminent Lloyd 1 exploration well result: 25p or £3 (current price is 69p) (ignoring other possible news, which is also due soon, from their brownfield development play, Taribani) and PTR (30p?) looks a good candidate to 3 bag over the next 2 years as it gets to production (production involves raising $25m to build a 60km pipeline? - a few days ago it was thought to be a 160km pipeline, and the shares have since got cheaper!). Merry Xmas all. DYOR.

[davethechef] 22/12/2007 10:40

Well someone "deranged" bought 20grand's worth yesterday. Not me!!!
A millionaire who likes a gamble maybe or they just felt charitable! Xmas time and all that. Lol!
Stacks of companies similarily exploring for metals in S. Africa,& with no doubt bigger cash pots to back them up, the'll have to work hard, it'll once again be very challenging and the'll need spades of good luck, to acquire a suitable( charitable!) JV partner. And as for raising money nowadays, AC and his not so merry men( which also can describe the many shareholders in the last 16months) will need all their new year wishes to come true!
I still hold a small amount of these, but intend to off set them against hopefully much larger gains, before end of tax year on Matra Petroleum. A small gem, with "stackes" of positive news releases recently, and beginning oil production within days. DYOR.
Merry Xmas.

[ananinginainana] 22/12/2007 10:32

Deja Vu?
Tyrwhitt was involved with Zangge when he was with Orchid Capital.
Orchid were "frustrated" by Zangge also.
Carbon copy IMO
Orchid Capital delisted a few months later and a few million lighter.
Clayton and Mcmahon would have known this when they appointed Tyrwhitt and yet there is no mention of it on Tyrwhitt's profile.
Selective reporting and misleading IMO.

Tyrwhitt, Mcmahon,Clayton,Hunter and Jones.

Names to look out for in the future.

[nobull] 22/12/2007 09:53

Simon, that's a very good letter. Agree with Wols the reason given in the RNS for not progressing Zhunuo is likely to be anything other than the reason given. Given the share price performance of Bannerman Resources recently, I guess they might do something good in Africa, but to continue backing them, one needs to be mentally deranged IMO.

[simon54] 22/12/2007 01:38

I need to be fair in reporting that I've had a speedy reply (not all of which I understand, but that may be my limitation), which indicates that the stated UK costs reflect the need to carry the maximum loss forward, whereas the actual running costs in the UK were 'very small'. I am also told that UK directors have got £24k/pa and no expenses.

It's probably best just to put it down to experience.

[andy] 22/12/2007 00:52

Simon,

Nicely written!

[simon54] 22/12/2007 00:49

Dear Mr Clayton

I know that you are no longer the MD of South China Resources, but I have your email address, having written to you before when I was a shareholder, so I will write to you.

When I invested in SCR I thought I had a reasonable grasp of the risks involved in an investment in a mining exploration company. When things went wrong, and I sold at a considerable (to me) loss, I did not complain. I considered that I had gambled on the risks, and lost.

However, looking at the Final Results to June 2006 published today, I realise that I did not really understand the risks I was taking. When I see "consultancy fees of £76,785" disclosed, as paid to Dr Tyrwitt (for what work, exactly?), or a loss of £2,197,193 incurred in the United Kingdom (excuse me?), I recognise my naivety.

So, I am wiser and poorer, whilst the directors of South China Resources are richer for their year's work.

It would be nice to say that I wish you all good fortune in the future, but it would not be true. What I do wish is that your reputations may go before you.

Yours sincerely.....

[kimboy2] 22/12/2007 00:25

Day after day, day after day,
We stuck, nor breath nor motion;
As idle as a painted ship
Upon a painted ocean.

[nobull] 21/12/2007 19:00

Re admin costs. I've been saying all along their new offices are very smart indeed. Jermyn Street. And they are spacious given they should be operating out of broom cupboard. They should rent a room inside GGG's offices instead. Even a more substantial company like KazakhGold rents a room inside Oxus's offices.

[theshareguru] 21/12/2007 17:37

the 1m buy prior to first announcement was very interesting also

[theshareguru] 21/12/2007 17:35

tax losses interesting, bought in today, the past is the past, the future
could prove interesting play only in with £1k, see what deals they do, there
is plenty of scope for future improvement in sp

[simon54] 21/12/2007 17:21

Directors' remuneration a scandal!

[kimboy2] 21/12/2007 16:57

Results;


Market cap about twice the amount of cash. Can't see why that should be so. Admin costs a scandal.

[garymegson] 21/12/2007 16:15

R.I.P.

It's only money. Stay lucky!!

[davethechef] 20/12/2007 21:02

Come to think of it, this hasn't got anything to do with the reduction of 6mill shares of Leithead, has it. A transfer, to Clive Jones!?! for an "undiclosed figure"

[davethechef] 20/12/2007 20:56

Well, well, well, makes a change from someone/institution off loading a hefty amount. A positive sign, FINALLY.
This year's results, due any day now( last year's RNS was on the 18th) apart from expected depressing news of "it's been a challenging year, blah, blah, blah.." ( and we have very little money left!) may just surprise, dare i say it, and include something positive.
This time last year we had the initial news release on Zhunuo project( whatever happened to that!)
For this certain Clive Jones to purchase 6mill shares, makes you wonder.
But it seems no one except nobull, has noticed!!!

[nobull] 20/12/2007 14:45

Grumble on the 19th about the lack of disclosure and what do you know...

20th December 2007



South China Resources plc
("the Company")

Shareholding in the Company

South China Resources plc was notified on 18th December 2007 that Mr Clive Jones
(holding as trustee for the Alyse Investment Trust) had purchased 6,000,000
ordinary shares in the Company on 10th December 2007.


Following the purchase, Mr Clive Jones has an interest in 6,000,000 voting
rights in the Company, representing 3.71% of the total voting rights of the
Company.
______________________________________________________________

And of course the preliminary results, with a horrible going concern qualification, will come out on Friday, or better still on Monday at about midday when nobody is watching their screens, I wonder...

[nobull] 19/12/2007 16:28

The sale a few minutes ago of 150k was mine. I still retain about 122k, but results are due out this week. They have to be out by 31/12/07 (AIM rules?). I understand they will just be historic and I do not expect any outlook statement to say anything of any substance. They are still burning the cash and claiming to be doing due diligence. You would think the recent stake changes would have led to an announcement, but that is not their responsibility.