Share Name Share Symbol Market Type Share ISIN Share Description
Sovereign Mine LSE:SMA London Ordinary Share GB00B3P3XP06 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.255p 0.23p 0.28p - - - 0 06:37:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.2 -0.0 - 2.20

Sovereign Share Discussion Threads

Showing 3101 to 3123 of 3125 messages
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DateSubjectAuthorDiscuss
01/2/2018
16:37
Big7, £2.50 was a brain fart, I meant the £2.25 that was paid for the C shares notified on the 15th May. I don't really make anything of it, just a casual observer, I think they had a deal in mind that didn't come off and they've been scrambling ever since. The restaurant business looks like a last ditch attempt to retain the listing, the business will still be sub-scale for a listing on AIM, but that's hardly anything new. I think that they will relist and still effectively be a listing looking for a business. I'm more interested in how management deal with this purchase. Will there be a transfer of wealth from the shell to the loss making hotel business's current owners? I can't see how the company could possibly be worth any more than it's net assets and should probably be snapped up at a discount to that. For current holders, it's all good news as the alternative was complete loss, I think GC's strengths are in UK consumer focused business's so the purchase plays in to that strength. As I said before £2 million isn't obscenely expensive for a shell, so downside may be somewhat limited. In no way a good situation, but he's taken on a sub-scale loss making business before (Mercury Recycling which he spoke of as a viable business until it was surplus to requirements) with a view to transforming it (Ironveld) although the circumstances were different and the eventual end result may be just as disapointing as here.
al101uk
31/1/2018
21:06
What do you make of it aI101uk? Where do you get the 2.50 from? Some of the shares 4p each, others £1, some more at £2.16? Its not clear.
big7ime
29/1/2018
13:34
Sorry Big7, I'll try again... https://beta.companieshouse.gov.uk/company/06659193/filing-history Check out the filings, they are abbreviated accounts, but enough to make some assumptions on. Also interesting the hiring and firing of directors.
al101uk
25/1/2018
21:11
I think after FFI with Massive directors buys this one is one to watch as well!
costax1654x
25/1/2018
17:56
aI101uk could you enlarge on your post 3035. The link is denied. Where do you get that info from?
big7ime
25/1/2018
10:36
Reputation in tatters in my view (IRON, KENV and here. Even AMER isn't exactly reflecting its potential). No position here, just tracking GC's latest and greatest business ideas. The good news, I guess, is that I think UK consumer plays in to one of GC's strengths and a market cap of £2 million isn't hugely demanding, even for a shell.
al101uk
24/1/2018
18:50
Back in April!
tommygriff
24/1/2018
17:23
Hi Al Just got the official notice from ii today. SOVEREIGN MINES OF AFRICA - Delisting - New Corporate Action Notice Available Only got 6k to loose here. Time for GC to hang his hat up and call it a day.
westmoreland lad
17/1/2018
12:46
It means the company will de-list from AIM while if completes the process of the reverse takeover. Then it will re-list at a later date and you will be the proud partial owner of a restaurant business called "Sovereign Mines Of Africa"... name I expect, will be changed. I don't know what, if any,are the de-listing costs, but I know there will be costs to re-list the company on AIM. Looks like the restaurant business will come in at about £500-£750K based on the £2.50 that Alex Snow paid for the C shares a year ago and the 4p he paid for the B Shares. Entirely depends on what value they put on the A shares, of which there are 383,000 with a nominal £1 value. In my view the business is sub-scale for an AIM listing, but I guess it's better than nothing for holders. There's only £81k of tangible assets in the business and it was loss making at the last accounts, debatable that it's worth what will be paid (Alex Snow is an insider, I doubt he'd pay £2.50 for shares he knew would be worth less a few months later and I doubt his appointment was entirely co-incidental). Https://goo.gl/57HoQn
al101uk
16/1/2018
08:27
Looks like a fall back deal.
skidaddle
15/1/2018
22:01
Another GC deal for the boys! Turf to table is a company that his fellow Amerisur director owns! Alex Snow, his brother is head chef!
tommygriff
15/1/2018
18:52
Indeed. Good luck to those who hold
thelung
15/1/2018
18:49
Well, this is a far (very far) cry from 'there's gold in them thar hills'!!!!
2magpies
12/1/2018
11:28
Big7ime, This is another Giles Clarke vehicle, so I hope your wrong. Just had a look and they sold their assets for around £700k at the beginning of the year, that sale is reflected in the interims. So assets were about £1 million with quite minimal cash burn. Other than that, this is just a shell. I don't know how much it costs to wrap up a company or if it's possible to find a buyer for the AIM listing, but I'd expect that the company could return up to 40% of the market cap to shareholders in the likely event that they don't find an opportunity to reverse in to in the coming days. That would be dependent on the liquidity of shares in Volcanic Gold Mines and if they can offload them at somewhere near current market value (think they are up a bit since the transaction). Not a holder, GC had tarnished in my view by the time he got involved here.
al101uk
11/1/2018
22:53
Reeks of fraud to me Invested a lot of their money you say? What 100k? These guys'll be taking that in salaries when they take it private, bleed the cash Prob had no intention of doing a deal Just a thought as it's happened elsewhere a number of times last year. FCA are totally useless, they must all be corrupt in my cynical mind Directors are you going to prove me wrong?
big7ime
01/1/2018
13:26
Anything is posible
sabre6
31/12/2017
16:20
I certainly hope so SabreI've invested a lot of money here They are leaving it very last minute though !!Can they reverse into Kenv ?
georgia103
31/12/2017
15:22
Yes I do directors have invested a lot of their money in this company and they also have their reputations to think of. I see another of their company's share price has been suspended (KENV) may just be a coincidence the reason they gave was the final figures are not available in time.
sabre6
31/12/2017
14:24
Sabre,do you think it will be good news ??
georgia1972
29/12/2017
15:59
Not long to wait for news now.
sabre6
07/12/2017
21:05
6 weeks to pull the proverbial rabbit out of the hat A very big rabbit out of a small (very) small hat I think A lot of investment gone in a massive bunny
georgia1972
07/12/2017
17:31
Probably not a lot of money compared to their individual net asset value. In retrospect they were probably too quick to sell off the only asset that validated the AIM listing until they were closer to doing a deal somewhere else. They were very gung ho on the initial deal that fell through whatever that was.
skidaddle
07/12/2017
17:06
I would be surprised if this de-lists there are some big names here and they have put a lot of money in this share.
sabre6
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