Global SP Regs Share Discussion Threads

[mh100] 18/6/2008 18:30

Am trying to get a handle on this company as the graph looks on the steady up and the newsflow appears strong.

However, quite a challenge to work out any financial data. To anyone who might know (if anybody is looking at this BB) what is the share price? 30p, 30cents or $30 - I have seen every combination of these on various sites. Thus what is the market cap (again widely varying quotes on different sites)? I can see that the EPS for 2007 was $0.24 (from companies own accounts)but this doesn't help unless the currency of the share price is known.

The company seems to keep detail to a minimum in their results. Some of this confusion may be due to the rapid pace of aquisition by the co. leaving financial sites behind.

As well as the Qs above anywhere I can go for more info (I have read the procativeinvestor piece).

Thanks in advance.

[andy] 25/3/2008 15:50

New in depth article here;

[wassapper] 16/9/2007 08:00

just testing!

[rambutan2] 15/9/2007 23:41

missed the boat on the warrants (ie price effectively capped at $3.50), but out of interest...

Notes to the accounts for the periods ended December 31, 2005 and 2004
NOTE 4 - Initial Public Offering

On October 3, 2005, the Company sold 33,500,000 units ('Units') in the Offering
at a price of $6.00 per Unit, generating gross offering proceeds of
$201,000,000. Each Unit consisted of one share of the Company's common stock,
par value $.0001 per share (the 'Common Stock'), and two redeemable common stock purchase warrants ('Warrants'). Each Warrant entitles the holder to purchase from the Company one share of Common Stock at an exercise price of $5.00 per share commencing on the later of the completion of a Business Combination with a target business or October 3, 2006. The Warrants expire on October 3, 2009.

The Warrants are redeemable at a price of $.01 per Warrant upon 30 days' notice
after the Warrants become exercisable, only in the event that the last sale
price of the Common Stock is at least $8.50 per share for any 20 trading days
within a 30 trading day period ending on the third day prior to the date on
which notice of redemption is given and the weekly trading volume of the
Company's Common Stock has been at least 800,000 shares for each of the two
calendar weeks before the Company sends the notice of redemption.

In connection with the Offering, the Company issued, for $100, an option to the
representative of the underwriters to purchase 1,675,000 Units at an exercise
price of $7.50 per Unit. The warrants underlying such Units are exercisable at
$5.00 per share.


GLBW quote:

[wassapper] 23/8/2007 16:46

You may be interested in a piece written to highlight the next Commodity Watch radio show (which can be found on Minesite)

Hedge Funds Aren't the Problem; They are Part of the Solution

During the market turmoil of the last month there have been many siren voices, some even suggesting that the situation faced by global financial markets is akin to a 1929 crash, with investors encouraged to sell everything. In an exclusive interview for Commodity Watch Radio, it was reassuring to hear from John Mauldin that he believes such comments to be "excessive, and pandering to people's fears."

John is President of Millennium Wave Advisors, LLC a US based investment advisory firm that is focussed on the hedge fund sector. Through a network of partners in places such as the UK, Denmark and South Africa, John Mauldin is probably closer to what is happening in the hedge fund industry than most. Whilst his name may be unfamiliar to some, John is very well known to a broad section of the global investment community through his weekly newsletter which is free and read by over one million recipients. "I've been writing this every Friday night for some years now. It helps me to collect my thoughts and at the same time helps others."

The subject of sub-prime mortgages has been concerning John for the best part of a year now as evidenced in his letters. His principal concern is that the fallout from this sector will affect the US housing market to the extent that it causes a mild recession in the US and he still thinks that we shall see this. A US recession will have perhaps a more significant effect on global markets with "a further 10% downside at least for US equities." It is the reset effect of sub-primes that should cause concern. Most of these 'exploding ARMs' are due to start their resets (to higher rates) over the coming months with the peak being seen through to the end of the first quarter 2008.

When asked if the current liquidity crunch was caused by hedge fund speculation in CDOs that were clearly mis-priced and given AAA ratings by the ratings agencies his answer is an emphatic no. "We have seen a few funds blow up. If there were many more we would probably have seen them by now. I have been calling dozens of people in the industry over the last two weeks and asking them if they have seen major redemptions. They have not." So where does the problem lie? "It is Asian and European institutions that were buying these securities. The major problems have been seen in Europe with the ECB pumping in liquidity and German banks in particular experiencing problems."

John has some pretty radical views of how this crisis might pan-out, anticipating more normal markets by October. Very soon he expects the lawyers to get active and have the ratings agencies such as Moody's and Fitch in their sights. "The ratings agencies will have to answer some tough questions. " As he said in his last letter, "Credit markets function because there is the belief that if you lend money you will get it back. Ratings are the grease for those markets. Now they have become the sand in the gears." His view is that these agencies need to restore credibility and he makes the serious suggestion that Warren Buffet should step in and takeover Moody's. He already owns 19%. He should "put his not inconsiderable credibility on the line for all the future ratings and the inevitable re-ratings that are going to be done."

But how do the markets start to unfreeze? He thinks hedge funds will be a major part of the answer. "Savvy distressed-debt hedge fund managers will look at the paper, and buy it for a discount." The key point here is that whilst significant losses may occur for the owners of this paper, they will at least be able to put a value on it (which they can't at present) and move on. Much of the debt will be redeemable giving the funds that step in a healthy profit, even with modest gearing.

He sees the process as being gradual. Traders have to be very careful in this market. They could easily make career ending decisions if they make the wrong move. "They don't want to put themselves in the sub-prime category!" he says with a grin.

We talked a lot more about the markets, the dramatic unwinding of the Yen carry trade (see chart below), gold, oil and the dollar. To hear more from John Mauldin look out for the next edition of Commodity Watch Radio.

Meanwhile, if you would like to read more of John's thoughts you can subscribe to his free weekly newsletter here.

[wassapper] 15/7/2007 13:48

Globe Specialty Metals Inc. (London Stock Exchange AIM: GLBM), is among the world's largest producers of silicon metal and silicon-based specialty alloys, critical ingredients in a host of industrial and consumer products with growing markets.

Our customers include major silicone chemical, aluminum and steel manufacturers, auto companies and their suppliers, ductile iron foundries, manufacturers of photovoltaic solar cells and computer chips, and concrete producers.

We have major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Pará and Mendoza province Argentina. Our headquarters are in New York City.

Our principal operating subsidiaries are Globe Metallurgical Inc., U.S., Globe Metais Indústria e Comércio S.A., Brazil (formerly CCM) and Globe Metales S.A., Argentina (formerly Stein Ferroaleaciones).

SILICON METAL

Our silicon metal is used by the chemical industry in the production of silicone compounds and by aluminum manufacturers to improve the useful properties of aluminum, as well as in the manufacture of polysilicon used in photovoltaic solar cells and electronic semiconductors. According to the metals industry research firm, CRU International, our US and Brazilian plants are among the most efficient producers of silicon metal in the world.

Silicone compounds are the main raw material for a large and growing number of industrial and consumer products, including silicone rubber parts, urethane foam, sealants, adhesives, lubricants, food additives, coatings, polishes and cosmetics. Silicones are substitutes in many applications for petroleum-based compounds and the demand for silicones benefits from higher oil prices.

Demand for aluminum has grown steadily in recent years, reflecting increased economic activity in both the developed and developing world, as well as new uses as a lighter, more economical replacement for other materials. Silicon metal consumption by aluminum manufacturers has grown accordingly.

The fastest growing market for silicon metal is for use in the production of ultra-high-purity "solar grade" polysilicon, the basic material from which photovoltaic solar cells are manufactured. The Norwegian Institute of Technology's SINTEF research group projects continued rapid growth in this market, with solar cell usage exceeding current silicon usage for all other applications by 2020. We are well positioned to participate in this market, having already entered into supply agreements with solar-grade polysilicon manufacturers.

==============================================

They produce a number of other related products. Q1 2007 EBITDA was estimated at US$11.4m based upon a full quarter's earnings from new subsidiary CCM.

Approx 56,673,584 shares outstanding plus 19,617,857 warrants (exercisable at $5 I believe)

eps for 2007 based upon above 80.46 cents per share undiluted
PER for 2007 of around 8

This is a growth company (cash rich) operating in a growth sector.