South China Resources Share Discussion Threads

[strow] 28/6/2007 15:25

Kimboy-their drilling costs at danfeng were £100,000 per month,so i think you are probably way out on your £3m per anum exploration costs
dogm4n-who knows-fun isnt it-they just knocked £400,000 off the m/c for £4,500 worth of sells

[dogm4n] 28/6/2007 15:14

Is this share heading back to cash value .......

[strow] 27/6/2007 09:53

Kimboy-re "is zhunuo worth £2.6m more than they have to pay for it"-i would say very very much so(dyor)-the question is can they get it,and till they do the risk remains

[kimboy2] 27/6/2007 09:41

Market Cap £4.6m.

Cash c£2m.

For a 53% share of Zhunuo they are committed to paying £4m + exploration of perhaps £3m p.a. till in production.

Is Zhunuo worth £2.6m more than they have to pay for it ?

Is there hope value in getting other projects ? If so why should they be worth more than they pay for it ?

If this was valued at cash I would buy, even then it is a calculated risk, otherwise there are better opportunities around.

Just my view.

[figure6] 27/6/2007 09:30

I see your position nobull but can you risk selling out now at the bottom when you know that any positive news will double the SCR share price in no time leaving you kicking yourself.Its a gamble I know but ask yourself if you think the next rns will likely be good or bad news.If you think there will be a positive update then hold but if you think the next news will be negative sell.I am not as informed on fundamentals as most on here so maybe someone else would like to post a list of both good and bad possible rns and their feelings on the likelihood of them appearing.We have already had two lots of bad news recently ie director leaving and Danfeng dropped which has adversley affected the share price so what next.Good news possibilities......new director?......good drilling results from Zhunuo/Xi'an?......notice mining to commence soon at Zhunuo/Xi'an.....JV with another miner.....takeover bid.Bad news, Zhunuo or Xi'an dropped or both dropped.....lose another director....I await your more informed comments on the likelihood in your opinions on what scenario is likely.(I freely admit to knowing less than most of you lot do on SCRs fundamentals so I am hoping for some constructive comments).

[wolstencroft] 27/6/2007 08:54

Well I did'nt complain, in fact I just pointed out the asymmetry - that those painting a less than rosy picture get trodden on whilst those painting a rosy picture are ignored or gently encouraged

Simon, I'm beginning to understand how you feel.

That's my last comment on this thread until there is news.

[strow] 27/6/2007 08:36

Wols-as a holder,why should one complain about people that have hope-i havnt seen any ramping recently!but also as a holder one rightly i think can complain about stale bulls/ex holders who have sold and keep coming back with negative,not necessarily true information

[wolstencroft] 27/6/2007 08:31

"I see Wol is complaining about folks saying the share price will rise now ": Please tell where I said that and I'll retract it.

I thought I was complaining about folks who complain about folks saying that the share price might fall but dont complain about folks who say the share price might rise.

If you can't quote me then one can only assume you are engaged in rhetorical argument, which can be fun but is ultimately pointless

[figure6] 27/6/2007 07:58

If thats what you think nobull then sell your SCR and buy GGG (I presume thats the company you are describing).I have a feeling though that you already own GGG but dont own any SCR,so you are effectively saying "sell SCR that I dont own and buy GGG that I do own" which is ramping GGG on another thread....naughty.

[davethechef] 27/6/2007 07:57

Fair comments guys. Absolutely, where's any positive news, we've been waiting what seems an eternity. I still have a fair few SCR share and have held since 5 July 05, no doubt one of the longest shareholders posting here!
It's all a mystery, what developments if any are going on. Where's the updates on Xi'an & the Zhunuo project especially, promised in comming weeks as when they announced those JV's.
Like Simon54 comments, Dr T and the other board appts of earlier in 06, one was encouraged by those, at the time, and we await, in hope, some positive news can be achieved.
Must dash..

[nobull] 27/6/2007 07:26

F6, in fairness to Wols he has said SCR is worth anything between zero and £5m. I am annoyed they can continue to blow shareholders' money on expensive offices and come out with no frigging news on anything: just vague statements of the sort you would expect a company that is going bust to come out with. When you can buy a gold mine that has had 25% of its construction completed for free, and that looks likely to be adding $47 of shareholder value for every ounce of gold extracted (and there shouldn't be any problem extracting a 1m oz) I just can't see what the point of staying in this stock is. May as well just set fire to yourself for fun to get the same amount of pleasure as being invested here.

[figure6] 27/6/2007 06:56

I see Wol is complaining about folks saying the share price will rise now (strange attitude for a holder but normal attitude for someone who has sold all or nearly all their shares).As a late comer to SCR theres nothing I know about the fundamentals that long termers dont know already, so all I can comment on is the share trading.A bit boring but is it of any use? I think it is because SCR is very tightly held and can double on "no news" buying.It doesnt much matter with most shares what is posted on these threads but because of SCRs ability to move far fast on relatively small buying it does matter here.If all newcomers read is negative sentiment from ex-holders/stale bulls then it could well put them off buying.So sentiment matters on this thread and Wols constant negativity is silly if he is a holder and petty if he has sold out to the point of wishing SCR to go lower so that he feels better about selling at a loss.

[strow] 26/6/2007 19:31

Simon-sounds rounded to me,although i do think they are working hard to turn it back again-time will tell-everyone always needs a little luck in life,its about time scr had some-i think it will emerge if they keep at it-no matter what else i think they are a very determined team and that for now,with all the more positive background and positioning is good enough for me

[simon54] 26/6/2007 18:40

I think there's no question that Zhunuo looks to be an exciting prospect, so if SCR still have a firm grip on it then it might turn out to be a very profitable option at this stage - maybe, though it's beyond me to guess at what's going to happen. There would obviously need to be funding for that to develop, so perhaps it's rather like being invested in a company pre-IPO, having a new project which needs to be sold to the market.

Is Nathan's appointment a temporary device? I was never clear what his role has been up to now, nor how much he's been involved in China. What's Dr T up to? Why did he get involved at all if there wasn't somewhere to go with this? What, for that matter, are all the SCR staff doing at the moment? Are they beavering away on a secret deal which will rocket the company to stardom again (and the hooverer of shares is in the know) or are they wandering the Chinese byways looking for a job? I have no idea either way.

If the value of SCR might have been considered to be in the experience it was developing in China, the connections it was making and so on, then I wonder where that now resides. There's been no MD based in China since March 12th. What's happening at the office in Xi'an? Who is doing whatever deals that might be done? Dr T maybe? So many mysteries.

I think all investing is gambling, but in this case I reached the stage of realising that I had no idea whatsoever of what the odds might be. Yes, it remains true, I'd guess, that one might very quickly double one's money here, but I have no idea of when or how that might be expected to come about.

This isn't meant to sound negative - it might just as well be positive - but I don't know which it is!

[strow] 26/6/2007 17:59

To be honest,i dont think any of us know whether scr is in a position to rise just yet,but mms do funny things and f6 is definitely right when he says it rose before on low volume buying
What we(the remaining holders)really need though as you are i am sure aware is the selling to dry up and the last weak holders to leave-we may then stand a chance of seeing this go up again and even more so then on any good news-all the best and good luck with whatever you are up to

[strow] 26/6/2007 16:58

Wols-give it a rest until zhunuo doesnt come in,then you can rant-it was your kind self i believe that reckoned there was limited downside 1-2 weeks ago with several multiples possible on the up
Its not true that nathan was sacked-i remember f6 saying that he bought in originally on the back of nathans purchase,not steves
If you have so few left,why do you keep being so negative for the remaining holders?(or is it just kind advice)

[wolstencroft] 26/6/2007 16:51

but the director that bought in was then sacked!
SCR dont have many assets - what are they going to JV? They have a JV so they JV the JV - it wont be long until they are squeezed out.

[figure6] 26/6/2007 12:21

Look at the recent rise from 4p to nearly 7p,it happened without any "news".I bought in cos a director bought which is usually a good reason.We do have an accumulator so maybe a JV is a possibility.SCR is a gamble I agree and if you arent prepared to gamble then put your dosh in a building society.

[kimboy2] 26/6/2007 11:39

To me it has the 'feel' of a share that is going nowhere until they announce something with some degree of certainty. Even then the company will effectively be at the mercy of the new investors, if any, who will have a majority shareholding.

IMV this is gambling rather than investing.

[figure6] 26/6/2007 11:34

Yep,but I would hold onto your last 200k Wol as SCR has the "feel" of a share thats ready to rise.(We still dont know why our 250k buyer is accumulating).

[wolstencroft] 26/6/2007 11:28

sorry but its guesswork for now on the SP

[figure6] 26/6/2007 11:01

A mere 50k buy and up goes the bid,SCR is ready to fly but we still need the buyers to come out in force.