|Picked up some of these after the 50% fib correction @ $2.35 CAD
EDIT: sold out at small loss.
hTTp://invst.ly/2i09f ( just a dow chart)
|Company website : hTTp://www.silvercrestmetals.com/
Stock info : hTTp://web.tmxmoney.com/quote.php?qm_symbol=SIL
Presentation : hTTp://www.silvercrestmetals.com/_resources/presentations/SIL_September_2016.pdf
Factsheet : hTTp://www.silvercrestmetals.com/_resources/factsheet/SIL_CorporateBrochure.pdf
News : hTTp://www.silvercrestmetals.com/news/|
|Nice chart Ashley|
|Sorry per this Soros Fund Management LLC now down to only 3.20%, overhang cleared?
Holders Value ($MM) % O/S Shares
Institution 131 853.54 109.5 64,542,153
Mutual Fund 146 390.05 47.5 28,017,129
Insider * 22 22.96 8.2 4,842,950
*Insider values reflect direct beneficial ownership.
Value ($MM) % O/S Shares
Top 10 Inst. 676.14 84.7 49,927,621
Top 20 Inst. 799.02 101.9 60,065,994
Top 50 Inst. 841.69 107.9 63,565,360
Total Inst. 853.54 109.5 64,542,153
Holders Value ($MM) % Inst Shares Shares
Value 21 363.00 46.0 30
Core Value 18 332.09 42.0 27
Deep Value 3 30.91 4.0 3
Other 44 201.68 25.3 17
GARP 21 160.13 20.0 13
Hedge Fund 10 25.90 3.3 2
Specialty 2 9.36 1.2 1
Broker Dealer 11 6.29 0.8 1
Sector Specific 0 .00 0.0 0
Index 13 60.18 7.7 5
Income 6 3.14 0.4 0
Income Value 5 3.09 0.4 0
Yield 1 .05 0.0 0
Growth 23 56.65 7.3 5
Core Growth 19 42.54 5.6 4
Growth 4 14.11 1.8 1
Aggressive Growth 0 .00 0.0 0
Shares Held % O/S Filing Date
Tradewinds Global Investors LLC 16,087,001 27.3 03/31/2008
Batista (Eike F) 7,958,867 13.5 05/16/2007
Wells Capital Management Inc. 7,040,802 12.0 03/31/2008
Moore Capital Management Inc. 5,734,266 9.7 04/17/2008
Stavanger Fondsforvaltning A/S 2,951,811 5.0 02/11/2008
Norges Bank 2,928,116 5.0 08/31/2007
Barclays Global Investors N.A. 1,902,342 3.2 03/31/2008
Soros Fund Management L.L.C. 1,860,782 3.2 03/31/2008
Van Eck Associates Corporation 1,807,534 3.1 03/31/2008
Tocqueville Asset Management LP 1,656,100 2.8 03/31/2008
Ownership data based on most recent publicly available data according to Thomson Financial.|
le couteau tombant
|Was his name Freddie Laker!
|Silverjet staff made redundant as rescue fails
By Alistair Osborne, Business Editor
Last Updated: 11:25pm BST 13/06/2008
Silverjet's 300 staff have been made redundant after a failed attempt by a group of secretive individuals to rescue the business class-only airline.
Administrator Begbies Traynor admitted yesterday that a deal agreed on Tuesday with Kingplace, an Irish-registered company, had fallen through.
Kingplace failed to come up with the fresh finance to save the airline, which leased three aircraft and flew from Luton to New York and Dubai.
It is believed that industry regulator, the Civil Aviation Authority, wanted a cash injection of at least £30m to satisfy its capital adequacy rules before allowing Silverjet to relaunch. All talks with the CAA have now ceased.
Joint administrator Mark Fry said: "We understand that, as a result of the unusually complex negotiations with third parties, Kingplace is no longer in a position to acquire Silverjet as a going concern. As a consequence, we have today had to make the entire workforce formally redundant."
Kingplace described itself as a company managed by Heritage Cie, a Geneva trust and management group. It was fronted by Ian Ilsley, chairman of Heritage and the Plus Markets-listed Sandhaven Resources. Kingplace made its offer on behalf of undisclosed private clients.
Earlier in the week Mr Ilsley was working alongside Lawrence Hunt, the founder and chief executive of the Aim-listed airline, which began services on January 25 last year. Silverjet suspended its shares on May 23 after another potential investor, Abu Dhabi's Viceroy Holdings, failed to come up with promised cash.
The carrier went into administration a week later, with debts of £40m, and grounded its aircraft.
Some £17m owed to creditors is secured against the aircraft, while £10m is due to property investors Simon and David Reuben. Shareholders have lost everything, while creditors are unlikely to receive more than a few pence in the pound.
Mr Fry said: "We continue to negotiate the sale of Silverjet's assets for the benefit of the company's creditors and will provide an update as soon as we can."
Silverjet's brand, the fit-out of the aircraft and its facilities at Luton could conceivably attract a purchaser.
Despite the rocketing oil price, Mr Hunt previously blamed the collapse of the airline on bearish comments from City analysts, claiming they became "self-fulfilling".
Yesterday, Mike Stoddart, an analyst at Daniel Stewart, said it he was forecasting "a loss of £30m in the year to March 2008. I think they would have needed at least £20m-£30m to have relaunched," he said.
Mr Ilsley declined to comment. Mr Hunt did not return calls|
|Sale falls through and staff layed off today.|
|p@, hardly surprising when SIL was spending money twice as fast as it was earning it.
I'm surprised anyone wants to chuck more money down this particular black hole, but it takes all sorts.|
|looks like shareholders have been shafted as usual.|
|Newspapers reporting the deal has been done and sold to the Geneva based backer.......
|i am myself: This is O/T but just interested in your opinion on Ryanair. With oil set to rise, there is the potential Ryanair will fall to an attractive price. Have you any feelings on what that might be, in fact on Ryanair in general...|
|it won't happen.
with oil where it is this is a money pit. the risk reward ratios for any head screwed on investor does not stack up. tickets too cheap, not enough passengers, luton is still luton (not handy for london and horrid dump). fuel costs too high. business now badly tarnished by recent events. Goodwill (business variety) badly damaged. glossy sleek marketing now looks silly "we are canny luxury" now tranlated to "we are silly bust". bad associations for the potential investor bad associations for the business travellor .
it is over|
|Reuben brothers plan to swoop for Silverjet
By Richard Fletcher and Alistair Osborne
Last Updated: 11:56pm BST 06/06/2008
David and Simon Reuben are said to be plotting a last-minute bid for Silverjet, the business-class-only airline that collapsed into administration last week.
The billionaire property developers - who are worth an estimated £4.3bn - are understood to be the failed airline's largest creditor. The brothers, who invested in the airline in November 2007, are owed an estimated £10m.
In total, Silverjet owes creditors £40m, of which £17m is secured against three aircraft. Shareholders in the Aim-listed company are expected to get nothing - angering small investors.
A number have questioned statements made to the Stock Exchange last month when the airline appeared confident of securing fresh investment from an Abu Dhabi investor, Viceroy Holdings.
More on transport
Silverjet which operated three aircraft flying from London Luton to New York and Dubai, grounded its fleet a week ago. However Begbies Traynor, the company's administrator, is nevertheless hopeful of selling the business as a going concern. It is unclear if a successful bid would secure jobs for Silverjet's 300 staff.
Other bidders for Silverjet are Kingplace - a shelf company registered in Ireland and managed by Heritage Cie, a Geneva trust and management company - and an unnamed airline.
Mark Fry, joint-administrator, said he was aware of an expression of interest from the Reuben brothers but added: "We are not in any formal negotiations."|
Silverjet attempts a remarkable return to the skies
* Dan Milmo
* The Guardian,
* Friday June 6 2008
* Article history
Silverjet, the most high-profile victim of the oil squeeze in the British airline industry, is attempting an audacious comeback from administration under chief executive Lawrence Hunt.|
|i have 30000 you can have if you want them|
|Ive just bought some for myself and i am hopeful, thaks for the advice Blade|
|Surely 13p is a great price to BUY in at, get in there!!|
|Sometimes the statements from the management of a company that is in trouble are like those from a cheating lover. They do love you: Its all fine and your doubts and those of your friends are imaginary; everything is going to be wonderful and you are both going to fly (tch!) off into the sunset and live happily ever after. Because you love them and despite mounting evidence to the contrary you believe them. And then suddenly it all comes out all at once - there has always been someone else; its all been a disaster; they are addicted to crack and they have run off with all your money leaving a note saying how sorry they are.|
|"..M.T.Glass, what exactly do you think i have not been honest about?.."
About being wrong and still even now claiming to have been right :-o
Just spin back, say, one month and read your own posts, in which you were dismissing the negative predictions - telling everyone the good times were coming and doubters were about to be proved wrong.
A simple "OK guys - I was wrong." might be a tad more honest.
We do all get things wrong sometimes. It's OK to say so y'know ;o)
But don't worry - I shalln't pursue it. Just amused that you still apparently see yourself and hero Hunt as right :-o|
|"on the other hand if they had been given the additional finance the upside potential was massive imo."
That last sentence demonstrates, imho, that you never properly understood the nature of the investment you had jumped into.
SIL would always have been struggling to stay in business, even if the price of oil had come back down to $85/barrel. The high oil price just accelerated its demise.
It's costs were too high. Its pricing too low. Its interline options non-existent. Its versatility to cope in different stages of the economic cycle completely absent.
A professional financial analyst, Mike Stoddart of brokerage Daniel Stewart, spent months studying it and came to the conclusion the business model was not sufficiently robust for SIL to survive high oil prices. Yet he was ridiculed by amateur investors who had taken a punt on SIL without understanding any of the issues of airline economics.
There's a lesson in that for those that can be bothered to learn it.|
|M.T.Glass, what exactly do you think i have not been honest about? i have never denied thinking that they had a fantastic product, look at the increase in pax numbers inparticular over the past six months, look at any independent travel review websites, people who used the service loved it from start to finish.
I knew full well they would burn through cash at the early stages while they built the business up to a level where they would breakeven, the trouble is ever time they almost got to that stage the price of oil had gone up another $10 that month and this went on for 6 months in a row.
I was still positive up to the end because i was under the impression they had secured the finance, i said on more than one occassion without the additional funding it was starting to look bleak but once they had it they then had a monopoly of the business only sector with all there rivals gone, this i believe would have increased pax numbers and also and more importantly allowed them to raise prices to counteract the rise in oil and as this was something that they had started to do.
Im sorry but i do not believe for one second other investors did not realise the risks involved with SIL and it was always going to be a high risk/reward share, the downside risk is unfortunately what we have seen, on the other hand if they had been given the additional finance the upside potential was massive imo.|