Charles Street Share Discussion Threads

[churnet99] 14/8/2012 10:27

n_r and PW73 - you both make some very good points, and I agree with the sentiments.

Your points have got me thinking : it could be very useful to start a Rogues Gallery of those people/Directors who have encouraged investment in their companies, but then not created any apparent shareholder value.
The intention would be to encourage other potential future investors to carry out more careful research before parting with their cash.

I would like to start the list with :
Nicholas Lee (former Director of CHC)
Damian Conboy (former Director of CHC)

Would you like to suggest any others ?

[induna123] 14/8/2012 09:04

PWhite73
2 Aug'12 - 23:07 - 3710 of 3752



As I said in an earlier post the whole point of the consolidation was so that the shares can command a 250% plus rise on any relist. This will hopefully mask the fact that CHC holders have been decimated by 90%.


Now that I've just received notice for the AGM by post - turkeys voting for christmas comes to mind. It looks like the purpose of the consolidation was to sweep previous CHC holders under the carpet and begin issuing large amounts of new CNT stock. I'll be voting against resolution 4 and 5 and I hope everybody else here does too.

I've written off this investment, no chance of ever seeing anything but I'm not agreeing to slitting my own throat. Taking a 90% hit was bad enough but another 90% hit on top of that (99% hit in total). No thanks.

[pwhite73] 13/8/2012 17:30

nr

Not sure why you're having a go at Lizzie she is only the telephone/email mouth piece for about a thousand companies. Nowt to do with her.

Your judgement of what this and 95% of companies on the AIM are is correct. They're just scams. Scams for directors to line their pockets on the pretext of returning shareholder value. The only revenue they ever get is from bucket shops off loading discounted placing shares to unsuspecting private investors.

90% of these companies in reality don't even fking exist. They are just paper exercises to meet regulatory filings. This company has had four names since 2005. Sweet China Trading Ltd, Sweet China Plc, Charles Street Capital and now Centurion Resources Plc. But the same trick is played over and over again. Suck in private investors money then disappear only to reappear again as another outfit.

Having said all that they could have disappeared altogether and there is not a damn thing any one of us could have done about it. But they are making an attempt to return so we can salvage something from our losses at the expense of other investors even if its just a 10% return.

[churnet99] 13/8/2012 16:54

Thanks n_r.

I agree that their information flow has been appalling, and I will also be remembering and avoiding those current and former Directors in the future.
Once bitten, twice shy and all that.

To give them the benefit of the doubt (and please understand that I am NOT making excuses for them), with the company no longer being on AIM, I assume that there is no statutory requirement for them to publish RNS's. In fact, they may not be able to issue an RNS if they are not officially on AIM ?

However, that does not excuse them at all - and have they also forgotten their decency and manners ??? At the very least, it would have been polite and courteous to keep shareholders informed - after all, it is OUR money that they have been messing around with for the last couple of years.

It would have been very easy to use the website to publish regular information and updates. Instead, we seem to need to rely on individuals levering bits and bobs of information from the company.

There is a LOT of bridge building to be done !

[negotiated_raid] 13/8/2012 16:35

Oh, one other thing: Elisabeth told me about the late August/early September re-admission about a week before that iii poster published that information. I think it's really shoddy that they're so slack in how and when they give information.

[negotiated_raid] 13/8/2012 16:29

Elisabeth is their secretary and I have made a point of including her because on more than one occasion I have read on forums that she has not replied to people's emails. It has sometimes taken the second or third attempt for her to respond to mine. She is as much a part of this chameleon of a company as any of the others as far as I'm concerned.

Yes, I'll be at the AGM...

[churnet99] 13/8/2012 16:17

Negotiated - that's an interesting approach.

Out of interest, who is this "Elisabeth" ? - not one of the 3 Directors ?

Also, can we assume that you will be going to their AGM on 31st. August to make the point in person ?

[lufc5] 13/8/2012 15:20

Now that should do the trick.
You're very naughty boys!

[negotiated_raid] 13/8/2012 15:10

Here is my email to Centurion:

C_NT (Centurion Resources)


2:54 PM (14 minutes ago)

to Elisabeth
Dear Elisabeth,


I am writing just to let you know that I am compiling a list of all the names of the people who have worked for CHC/CNT, including yourself.

With regard to the company coming back at 1p per share I will be blacklisting your names from any of my future dealings and I will relentlesly make a point of reminding the investment community, on forums, of your failed attemps at aquisitions, the catastrophic dilution and the lack of accountability in the ever changing faces of company directors.

Wishing you all the best for the re-admittance to AIM,



Regards,

[dr rosso] 12/8/2012 20:34

My 1p hope is disappearing fast. If the Ds take another 500m for themselves at 1p, I think that takes us up to 607m after the extra 55m mine acquisition shares hit the market.
607m shares. We`ll need to see a £6.07m mcap for each one to be worth 1p. That is certainly achievable given the potential value of this Mitterberg copper mine.

Where pis could get screwed (even more) is if the Ds take 1bn at 0.5p. To keep my 1p, the mcap would need to hit £11m. Feasible. I`m still way down on the 7p pre-susp break-even point though.

Add on another 25m for July options + 15m conversion shares taken at 0.67p.

Losing track here.
Immediate relist sees 52 + 55 + 25 + 15 = 147m shares in issue.
If Ds take a further 500m at 1p = 647m
If Ds take 1bn at 0.5p = 1.147bn

So all we need now is the market valuation of this copper mine

[vauch] 12/8/2012 09:31

PWhite, the only time it will change will be when all small share holders stop buying aim stock on the same day at the same time.
The mass has to join as one for change to take place, untill then the behavior of this sector will remain.

[pwhite73] 12/8/2012 08:53

Before consolidation there were 1.043 billion shares in issue. After consolidation there will be 52.1 million shares in issue. At the AGM for 31 August 2012 they are seeking authority to raise £5 million over the course of the next year. If they issue such shares at 1p existing CHC shareholders would have been diluted by 98.96%.

I do hope and pray that the delay in re-listing is a result of the AIM regulators, Alecto Minerals, shareholders or somebody somewhere objecting to the injustice of these proposals and negotiatiing better terms.

We all want the company to relist but this constant wiping out of small private shareholders here and everywhere on the AIM must come to an end.

[negotiated_raid] 10/8/2012 18:51

Yes, that's always a possibility in this type of situation. I wonder if the low re-list price of 1p is pure engineering in order to create a buzz with a rapidly increasing share price. It could also allow quite a smooth consolidation between CHC and (will be)CNT holders. Could this do 400% or so quite rapidly? Who knows...

[lufc5] 10/8/2012 18:46

Depends on multiple factors.
The big one being at what share price on relist.

[carrera91] 10/8/2012 18:38

Hold no point selling at a loss after the long wait, could pull something off ...

[negotiated_raid] 10/8/2012 17:24

Anyone interested in this re-floatation?

[lufc5] 10/8/2012 16:52

Maybe we will get an idea on a relist date around the time of the agm.....or maybe not.
What the hell was I thinking about!!!???
We live in hope...lol

[pwhite73] 10/8/2012 16:21

Thanks LUFC5

As per usual everything except a fking relist date.

[carrera91] 10/8/2012 08:00

could mention a million tonnes of it,, no use until it blooming well relists.

[churnet99] 10/8/2012 07:56

And, yes, Greg Kuenzel is also a non-executive Director of CHC / Centurion.

It is quite likely that Centurion could have become aware of the prospects at Mitterberg through his connections.

Yes, gold is frequently found in the same formations as copper, but I don't think there has been any mention of any gold at Mitterberg. I suspect that if there was any possibility of gold in the area, they would have shouted it from the rooftops, in order to boost the attractiveness of the prospects.

It would be good for Centurion to get re-listed on AIM, and then get on with the job of finding and (eventually) producing some copper......and shareholder value !