Directex Real Share Discussion Threads

[devil20] 07/1/2011 15:14

A We have the cash to invest 30 seconds after the EGM clears us

In all fairness he did say the above, not that he would inform us then. Guess we'll have to give him a little while to perform.

[moormoney] 07/1/2011 14:51

patience needed I see--never mind our turn will come. meanwhile look at VMP just taking off today another where patience is needed though.

[marab] 07/1/2011 14:44

I can't see him turning up at Minesite without having bought something. Apparently he will also be giving details of the AHG investments there, although they have been sadly lacking to current investors.

[devil20] 07/1/2011 14:17

No. 30 secs is 30 secs!

[granada7] 07/1/2011 14:15

looks like TW didnt stick to his word then.

[rafboy] 07/1/2011 14:14

Hope TW is busy doing deals subject to the meeting having gone his way which I am assuming. Then he can tell us all about it in a nice long RNS later today!! Here's hoping. Regards.

[devil20] 07/1/2011 12:49

Just a reminder Tom, in case you get a chance to read the bb. lol

Q How long does he anticipate the company taking before starting to release potential/actual acquisition opportunities?
A 30 seconds after the EGM gives clearance.

[devil20] 07/1/2011 12:17

I should imagine the egm will be over by one in time for lunch. We might expect something very quickly after that.

[marab] 07/1/2011 12:09

Share price seems happy to hover at the moment, so no frenzied exit yet.

[7bore] 07/1/2011 11:44

DXR
shares in issue.....50,518,000
share price.........5.625p (5.50/5.75)
mkt cap.............£2.84m
date................07.01.11

Last known assets:

Interim results to Jun 10:


"Our only remaining assets are cash and a 12.2% stake in Web-clubs Ltd ("Web-clubs"). Web-clubs is a marketing services business based in the UK. For the year to 30 April 2010, the unaudited turnover and post-tax profit were £1.35 million and £0.426 million respectively and its net assets were £1.27 million. "

"Net assets at period end were £1.40 million representing 2.77 pence per share." made up of:
£0.992m cash
£0.837m Trade and other receivables
£0.429m Total current liabilities


"Although we have significantly reduced operating expenses since our appointment to the Board, the Company continues to have considerable cost in maintaining its operations, particularly in relation to the French branch."



----------------------------------------------------------------------------

So they had net assets £1.4m (2.77p/share) on 30 Jun 10. However, they still had "considerable cost in maintaining its operations".

Their admin expenses to 30 Jun 10 were £0.307m. However, they said they had "significantly reduced operating expenses "but "the Company continues to have considerable cost in maintaining its operations".

So lets assume Admin expenses are now £0.2m/6 months.

This means the £0.992m cash is probably £0.792m (1.57p/share) and the £0.837m Trade and other receivables minus £0.429m Total current liabilities is worth around £0.345m (0.68p/share).

Total net assets worth around £1.137m (2.25p/share), excluding their 12.2% stake in Web-clubs Ltd which had unaudited turnover and post-tax profit of £1.35m and £0.426m respectively and its net assets were £1.27 million.

If you add in the 12.2% of the Web-clubs £1.27m net assets and £0.426m cash then this equates to £0.206m (0.04p/share).

Total assets worth around £1.34m (2.7p/share).

[andrbea] 07/1/2011 11:26

got this in my email:

last bit:

5. Silver:Gold price ratio to continue to narrow

In many ways silver behaves in a similar way to gold: most obviously it is a store of value and a hedge against inflation. However, the key to why silver offers a more enticing prospect than gold lies in its differences to the yellow metal, rather than its similarities. Whereas gold has little practical use beyond its function as a store of value and its appeal as jewellery, silver has a myriad of industrial applications from semiconductors, water purification, solar power and medical equipment. Consequently demand tends to taper off for silver more so than for gold during a recession. However, this trend generally reverses during a growth period and silver is already undershooting the long term ratio of silver:gold (50). What's more, there is reason to believe that a paradigm shift could be in the offing, as demand for silver is particularly strong in the high-tech industries which are undergoing a significant boom period.

[fairdeal2008] 07/1/2011 11:23

This EGM is just a rubber stamp affair. But I expect the rns to flow very quickly. Now for you long termers I don't know if that will be this pm or Monday or next week, but very soon....

And I would not want to out when this bandwagon gets rolling imho.

[fairdeal2008] 07/1/2011 11:04

Ha the point is that with 50mn shares in issue and an increasing number tightly held it is difficult to get any decent position when the share begins to move. So you have to decide where you are and whther you want a position in a silver play at this stage.

Silver has a v long way to go, many silver opps are nowhere near full value and in this case, the company is only capped at a miniscule £2.8mn...

Even at 15p mkt cap would only be £7.5mn.

Now of course we have some way to go because you need to see what assets they will bring in. But with all the cash the issue of dilution doesnt haunt us and that is an excellent position to be in imho.

There you go...all imho

[devil20] 07/1/2011 10:52

Let's hope TW backs up his talk with something definite. His credibility will be zilch if he doesn't.

[rafboy] 07/1/2011 09:42

The silence is deafening. News soon? Regards.

[marab] 07/1/2011 07:42

LUFC5, thanks for letting us know, and a profit is only a profit when you convert it to cash Your reasons make sense. Others will stay here expecting TW to find bargains like his deal with Ascot through AHG where the investment was tripled in value in days. I certainly would not advise anybody one way or the other. If you buy shares here you are betting on TW building NAV quickly, and continuing growth over time. Your personal views on the silver market should also be taken into consideration. A classic bird in the hand, two in the bush situation.

[lufc5] 07/1/2011 01:34

Rightly or wrongly sold out.....I more than did 150% here.

Not bad......

Silver has done very well over the last few months....

But, where are the bargins in silver going to be?????

Most are now almost fully valued.....are they not?

Short term(months) this will do nada!

Imho.....of course....

[marab] 06/1/2011 23:30

drago, the problem is price sensitive information which I would argue naming the investments might be. If they are, then he can't announce them to a select group, everybody has to be informed at the same time by RNS. It might be like AHG where they just said some investments had been made. He could say that £x has been invested and is now worth 20% more, or something similar. To be honest the rules on AIM seem to more obvious in there bending than anything else, but I am hoping that there will be a bit more information on individual investments than there is at AHG. I feel sure that if TW is free to pass on info then we will get something. I certainly am not arguing with you because we don't have a clue what the policy will be on disclosing holdings. What I am focusing on is TW's answer to one of the questions in the header about a month and a half ago. "We have the cash to invest 30 seconds after the EGM clears us. And we have already identified 4 potential investments."

[drago] 06/1/2011 21:45

mareb

would doubt if investments will be named till the minesite presentation on 12th,
but you never know.

[marab] 06/1/2011 21:42

moormoney, you are probably right, but the share price over the next 24 hours should be interesting, and I think a lot will depend on whether investment announcements are made tomorrow. Long term it doesn't matter what the share price does over the next week or so, but I wonder how many people invested here now were around at the last spike.

[moormoney] 06/1/2011 21:25

I'm looking forward to it. His gold fund has well rewarded investors so I believe the silver one will perform just as well and if the silver squeeze talked about on the agq thread for feb/march happens as forecast we are in for a very happy time!!

[marab] 06/1/2011 16:22

Slight pick up on prices now as people prepare for tomorrow.

[mr dexy] 06/1/2011 15:26

M,

Lol.. as i said yesterday, I'm in for a modest amount... let the boy get on with things.. and lets see how he gets on.. would seem a bit short sighted to bail before we know what he's gonna get into.. once we have more flesh on the bones.. then a more considered position can be taken.. for me anyway..

as always, thanks for your input and GLA.


Mr D

[marab] 06/1/2011 15:12

Mr Dexy, I would be happy to get off the fence if I knew which side to jump to. A bit of levity never hurts on this thread. Chances are that whatever it does this week it will do the opposite next week. Or not.

Anybody going to the EGM?