Legendary Inv. Share Discussion Threads

[professor pettigrew] 26/3/2018 07:09

Good morning to all decent genuine holders here.

[professor knobhead] 26/3/2018 05:49

You're problem plantpot, or to be precise, one of your many problems, is that you always look back. The stockmarket, as any good telex veteran knows, is about looking forward.

There is nothing vs have done that makes the recent 66mln valuation realistic. It is not growing as much as it should have, and when that happens to a new tech company, their valuation gets crushed.

Someone on the main thread thought it was worth 33mln. I think that's way too generous.

I believe it is now worth less than 10mln quid, and in which case, that makes LEG shares overvalued considerably.

Wise up.

[professor knobhead] 26/3/2018 01:35

Top 4 shareholders:

INTERACTIVE INVEST TRAD Multiple Portfolios MF-AGG 497,622,980 15.11 233,472,760 12/27/17
HARGREAVES LANSDOWN AS ULT-AGG 436,223,874 13.25 36,226,926 12/27/17
ALCAZAR 1 PTE LTD REG 274,130,000 8.32 0 12/27/17
CROWD FOR ANGELS UK LTD RNS-MAJ 248,275,862 7.54 248,275,862 01/09/18

[paleje] 26/3/2018 00:43

Soupdragon thanks but can't read that article, just says page unavailable. I was hoping for something a bit more recent anyway but regardless can't see why they would want to help Zaf ...and as for Beaufort well their game is up, I can't see what they said about them but many got stuffed by beaufort and many made ill gotten gains through them, the market is a bit cleaner without them. only a bit unfortunately.

[zipster241] 26/3/2018 00:18

Thank you for that wisdom ! ive been trying to put the pieces together for a long time, I am just not that clever when it comes to research. Some people have doubted me and preferred to attack me with criticism and question my motives.
some people are good at these things, I am not but I could just tell that something was wrong.

Thank you for shedding some light on this for me, I never liked the loans that were interest free and open ended, to me an investment company is supposed to be making some kind of returns for its investors, but this CEO seems like a crook.

For me manas was a strange investment, it is a loss making miner based on the other side of the world, Karim had just dumped a lot of mining stock (leg investment stock, SULA, ORACLE Coal etc) at a loss, stating that he was to concentrate on the core investments. He then chucks 359k at manas of which 259k seems to have gone missing with no updates at all on progress. When the sultan sary results came back through manas, we were told LEG was delighted and the results were fantastic, suddenly a few months later, after holding the investment for around a year, he stated that CTOL was a better investment and likely to provide quick returns. Then there is silence on all investments.

Initially, the first move that he made which set the alarm ringing for me, was to borrow 30k from a "certain investor" (as he put it) and then issued that certain investor with 250m warrants, at 0.1p. This was done at a time when the share price was climbing and the warrant holder exercised and then sold aggressively, surpressing the share price I think this was around 2015
LEG still owe the 30k loan back to the investor, despite the 1m placing and repayment of the revolving loan facility (10per year, every year it seems like)...so why hasn't it been paid back ?

[krisg] 25/3/2018 22:51

Thanks Zip So Zaf sends Manas £259K with no interest and payback date. Then takes out a $500k loan at 10% with a company that shares the same address as Amedeo Resourses.He then moves the 100k back to Circle knowing his Manas contacts are about to buy it with a new company Dunraven.Boy this is fishy

[soupdragon55] 25/3/2018 22:06

If pajele wishes to look in here...

Andrew Mill of VS interview with Private Equity News July 31st 2017 (

"Virtualstock plans to recruit a new chairman with strong ties to the U.S. investment market in the next three months, Mr Mills said."

This was the first and last time any listing of any sort has been mentioned by VS. I'd guess that since the chairman hasn't been appointed then the U.S. listing won't come to fruition. Thats not to say they won't go for a UK listing.

The article actually reads more like they are trying to do Zaf a favour and push the LEG share price. Why else would Beauforts get mentioned, they have nothing to do with VS.

[zipster241] 25/3/2018 21:27

yes the loan to Manas was included in an RNS Kris,
It was in addition to the 100k investment, you can see the details in the RNS of 4thSeptember 2017 but this wasn't the first time it was mentioned:

AUDITED RESULTS FOR THE YEARED 31 MARCH 2017

"As at the year end, Legendary holds a 5.5% stake in Manas Resources, with an option over an additional 4.45% stake, which are held on its balance sheet at GBP100,000. In addition, working capital has been provided to Manas of GBP259,000 which is included as a non-current receivable."

interestingly it is still listed as a current investment on hxxp://www.leginvest.com/portfolio/manas-minerals-llc/

which shows how sloppy the firm LEG.L is and how no one should take them as a serious investment firm. SINCE ON 22nd December 2017 by way of RNS, LEG announced

"Legendary is pleased to announce that it has entered into an agreement to acquire an interest in Circle Oil Tunisia Limited ("COTL"), which owns the, El Mediouni East and Central oil asset ("ELM") in the Mahdia Permit located in the Gulf of Hammamet off the Tunisian coast, in exchange for its interests in Manas Resources LLC ("Manas"). The Permit duration and work programme are in the process of being finalised. "
Yet this "investment swap deal" is also listed on the website. Wouldn't it have been just as east to remove manas at the same time, since it was "parlayed" for COTL. To me this is deceptive, showing both investments as current when just as easy to remove the one that was swapped.

I could go on with this...but its already obvious that with the connections, he has hidden the £259,000 of "working capital" provided to manas,

[professor pettigrew] 25/3/2018 21:22

Hi paleje - decent post there.

As regards the US listing, I'm only going by what I've heard and read previously. In truth there hasn't been reference to much at all in recent months, probably why the share price is as weak as it is at the moment.

I agree with you though re the valuation of VS. One has to think of NotionCapital and their £4m+ investment. Their track record is second to none, and I wouldn't think they would be any slouches if they thought their investment in VS didn't turn out to be profitable.

It would do some well to remember that LEG entered VS originally at a valuation of just £2m.

[paleje] 25/3/2018 19:08

Prof, do you know is a US listing still a possibility, couldn't see any reference to it in recent months.

Chinese investor, I did use your link thanks but there's a lot of noise about Zafs other deals and I'm not very interested in them I don't rate the man at all. But also someone on there suggested VS was probably worth only half its 66m tag because of the jitters in tech....but that looked like deramping to me, VS isn't in the same category and imo probably worth more. We all just have our opinions at the end of the day.

[soupdragon55] 25/3/2018 17:25

Sounds like he's the rear end of a pantomime lion.

[bionicdog] 25/3/2018 17:22

He was also in the lion the witch and the wardrobe as I remember.

[soupdragon55] 25/3/2018 17:09

Https://www.telegraph.co.uk/news/8436435/BBC-newsreader-steps-down-over-Kyrgyzstan-revolution-claims.htmlHttps://www.bloomberg.com/research/stocks/people/person.asp?personId=259925413&privcapId=1789535

[soupdragon55] 25/3/2018 17:00

I like how Arslan was a BBC correspondent who had to stand down after being accused of trying to start a revolution.

[nortic 007] 25/3/2018 16:41

Good lunch...... jellied eels and a Yorkshire.

[krisg] 25/3/2018 16:17

Zip was the loan to Manas listed in an Rns

[zipster241] 25/3/2018 15:37

its nice isn't it.

There are a lot of connections but there is no return for the long suffering PI of LEG. id still like to know what went on twith the 300k he lent to manas after the 1m placing, it was kind of "explained away" in the last set of accounts, with a statement that if manas were successful, then LEG could expect that money to be returned. otherwise Consider it a total loss ?

Seems like Karim has gone into hiding. The only squeak we have heard from him was a pathetic attempt to ramp the share on Zak Mirs channel a few months back.
No matter since the FCA in the UK would allow him to get away with any kind of fraud, as we know from the outcome of other AIM frauds, no-one is put to rights.

To me this is already fraud, since it was supposed to be an investment firm and I think most would agree, it doesn't fit the description, if it ever did. That's why I think he is having trouble getting a new broker. Of course I may be wrong but he hardly inspires confidence does he.

[chinese investor] 25/3/2018 14:19

DAVEY....PONGO

[krisg] 25/3/2018 14:14

Arslan KoichievIndependent a Non-Executive Director of Manas resources LLC was also consultant for Central Asia Resources UK and Premier Management Holdings.Susan Mckeon was a director of Central Asia Resources.Both John McKeon and Alex MacDonald had connections with Premier Management Holdings which as been renamed to Premier Gold Resources plc.John McKeon is a major shareholder of Premier Gold Resources plc.

[maxk] 25/3/2018 14:13

Quicker on the scooter..