Empire Metals Share Discussion Threads

[barnsey] 19/7/2011 21:43

Looking at some of the developments you start to realise that these are top
quality developers who are very good at what they do who sadly like the rest
have been hit by the general downturn in the construction business.
Hoping for better times 2011 and thereafter.Worth a look for investors.
You get the feeling there is no way they will allow this company to fail and
the more you research and see the strength of the group and it's backers you
start to think this share price will turn out to be a bargain in years ahead.





Locality

The Veleslavín quarter was established perhaps as long ago as in the eleventh century, and today it is one of the few areas of Prague that have preserved their character without suffering the greater effects of urbanisation. Therefore, Veleslavín is a pleasant and popular place to live.

Veleslavín Villas are located on the quiet Pod Dvorem Street in Prague 6. The surrounding area offers a range of surprisingly picturesque and green places. For example, a chateau with a beautiful park is in the immediate vicinity of the project.

The project is connected to the city centre by Evropská Street and metro line A. The new Veleslavín metro station is located only 300 metres from the project; bus and tram stops are only 200 metres away. Prague-Ruzyně Airport is also within easy reach.

Veleslavín and its immediate surroundings offer a full range of possibilities for recreation and sporting activities. For example, the Šárka Valley nature reserve, the Džbán natural bathing pool, the SK Aritma sports complex and Sport Centre Evropská, with a broad range of services, are located nearby. Several restaurants offer various types of cuisine and important civic amenities are a matter of course: schools (e.g. the International School – Nebušice), a shopping centre, polyclinic, the Canadian Medical Centre, a pharmacy, post office, petrol station and more.

[roomb] 19/7/2011 15:39

This share was 2p when it had no funding and didn't have enough money to pay its debt intallments in 2009/10.
IMHO it will go higher.

[readytotrade] 19/7/2011 14:50

to proceed with the sale of property

19.07.2011 12:21 | recommend (2)
The company continues with its sale of non-core construction projects in the region

Article

One of the projects in the Czech Republic Engel. Image: Engel
Those in severe financial difficulties estate company Engel East Europe NV announced that it has secured sufficient funding to enable it to continue its program of selling off assets in Eastern Europe.

The company, which is traded on the alternative segment of the London Stock Exchange AIM, has already received short-term funding of 250 thousand euros.

This became possible after the parent company Engel signed an agreement with Cyprus-based GBES Ltd., Whereby the second acquires 53% of the first against 9.2 million euros. The investor is committed to also provide credit amounting to 10.2 million from the parent.

GBES has also agreed to provide the Engel "sufficient financial resources to cover its short-term needs for working capital," reported by the company.

This will provide sufficient capital for Engel, to help her to continue marketing the sale of its non-core construction projects. So the company plans to concentrate on completing those projects, which believes it will generate the highest return.

More Info
Continuing financial problems for Engel, reduces loss

Before the crisis Engel had several projects in the country, but due to difficult market stopped its activities on the Bulgarian market. The company subsequently decided to focus its activities on more established markets in Central Europe.

Early last year it sold two residential projects in Bulgaria for a total of 25 thousand euros.

[roomb] 18/7/2011 18:20

"ERD not eee" yes, that's right. But ERD own most of the shares in EEE, so they don't want it to go bust.

[envirovision] 18/7/2011 15:51

ERD not eee

[envirovision] 18/7/2011 15:51

ERD not eee

[roomb] 18/7/2011 14:09

"also note there's no mention of any equity stake for all this cash" written by Envirovision post number 771
Yes there is mention of an equity stake for the cash: "The announcement of results referred to the agreement dated 7 July 2010 between GBES Ltd. (a company incorporated in Cyprus) ("GBES"), Engel Resources and Development Limited ("ERD"), the parent company of Engel General Developers Ltd.("EGD"), and EGD, whereby GBES agreed to invest capital of approximately EUR 9.2 million for 53% of the enlarged share capital of ERD (part of which will be given as loan until the receipt of court approval) and to provide an additional credit line of approximately EUR 10.2 million to ERD." RNS 21st April 2011.

So we can see from the above quote that EEE is not going bust and has funding for the future. Property prices in Poland and the Czech Republic are improving and the share price has prospects to improve.

[envirovision] 18/7/2011 10:03

Induana123 quite also note there's no mention of any equity stake for all this cash. As if your supposed to believe all this money has just fallen from the sky !

I wish people with give me millions of pounds of cash for free.

Hmmmm

call me a sceptic but it all looks like a scam to get the accounts signed off.

[readytotrade] 15/7/2011 18:19

So undervalued it beggars belief next property sale it could be 20/30/£££££.
Backers getting behind it.Bottom rung a must have .imho

[roomb] 15/7/2011 17:41

so you haven't been buying eee then Induna?
What's your interest in the share?

[induna123] 15/7/2011 13:16

This sounds like another Langbar. Mystery money coming from Cyprus to prop up an Israeli company who in turn will prop up this lot so they can pay off their Polish builders.

[roomb] 15/7/2011 12:02

Personally, I'll buy at under 3p.

[barnsey] 15/7/2011 11:01

Yes i now follow but can understand slight confusion when you have a quick
read and are faced with GBES/EEE.L/ERD/EGD/ but like you say now fully funded
and the market improving.

[barnsey] 15/7/2011 10:53

Cheers i will go and read statement again.

[roomb] 15/7/2011 10:46

barnsy, I think you have misunderstood something: they do not have a 53% stake in EEE, but in ERD.
The key facts for me are that this co. is ultimately really part of a much larger parent co. which has not allowed it to go bust. It is now securely funded for some time to come and when property prices improve in Eastern Europe, as they are already doing in Poland for example ( see above ) these will be much higher.
Just my VHO.

[barnsey] 15/7/2011 10:25

This takes some working out or too good to be true but it seems a Cyprus based
co have invested 9.2 million euros which is about 8 million pounds for a 53%
stake which equates to a rough company value of around 16million but today's
valuation under 3million so it would seem a good long term hold, anyone the
wiser re this, it seems to want to go up today.

[daniel] 15/7/2011 08:41

Induna, that was non-sense _Dyor.

The world is not coming to an end yet

[roomb] 14/7/2011 22:39

Induna, Serbia, Poland and other countries EEE operate in aren't in the euro.

How do you think eee will be affected by a euro collapse?

If eee didn't have debt then the share price would be much higher, as they do have income.

Just my very HO, risk/ reward.

[roomb] 14/7/2011 17:28

I agree Daniel.
Interesting paper on recovery in Polish real estate( where EEE has lots of units):

"POLISH REAL ESTATE MARKET
RECOVERY AFTER THE CRISIS
CONCLUSIONS
• During the crisis the number of investments were suspended
• Some investors were refocusing on underdevelop real estate sector
• At the end of 2010 and in 2011 Polish Real Estate improvement was
drawing power from optimistic macroeconomic factors
• Increased number of transactions on residential market and more
positive municipal auctions
• Upward trend in rents for commercial space among all sectors
• Importance of prelease agreements during the investment process as
banks security restriction requirements"

[daniel] 14/7/2011 16:06

A good company with great potential. Expect a take over of the rest of the assets or an octagonal (800%) share price. Smart Israeli company acquiring portfolio in fast recovering Easter European Countries.

[roomb] 14/7/2011 09:34

proothi, I agree with addict: high volatility means you have to be prepared for big sudden drops in share price as well as sudden rises. Most shares are owned by EGD so relatively few tradable so when there's demand for shares price can spike.
The company now has funding for some time to come but what is the future for property for the next few years/rental incomes?High risk but potentially high reward if the company does well in the future.Don't invest more than you can afford to lose...

[addict] 14/7/2011 09:11

High risk/high volatility.Best do your homework before getting carried away with BB chat.Check out the pre/post suspension balance sheets and capital structure.DYOR

[proothi12] 13/7/2011 18:25

Pls guys need some thoughts about eee up 400 odd per cent today, what are peoples thoughts for tomorrow?

[roomb] 13/7/2011 17:52

"53% at 9.2 million euors would roughly value so the company at a value of say 17 million euroes."
I think you are a bit confused here: ERD is a different company.The 53% refers to the investing company's stake in ERD, not EEE.