Sovgem Share Discussion Threads

[coroon] 27/1/2007 09:59

Very quiet here nobodys posted for about 6 weeks.
Same on the website, no news since Oct.
Harbin had a very good rise yesterday nearly 37% news that they are moving onto NASDAQ Global Market on 31st Jan.
Sola just keeps going up and up, lovely share, I wish every one I bought increased at that rate in only a few months,I hope SOV have locked in some profit,giving them loads of cash for the next investment and maybe a small divi to keep us PI's happy.

[mister md] 12/12/2006 17:07

thanks jonwig. strange that shareprice was static while SOLA rallied. Then when SOLA began to pull back a bit SOV took off! Still quite big gap between share price and NAV then...

[jonwig] 12/12/2006 15:50

Hi Mister MD - it's just been updated in the Header. As far as discount goes, the share price is well up with events.

[mister md] 12/12/2006 15:03

any idea of current NAV following the AOB and SOLA rallies ?

[jonwig] 16/11/2006 19:18

For those with an interest in history, BODI is in legal trouble, as are Benjamin Wei and NY Global, SOV's erstwhile sole advisors.
SOV's decoupling was lucky, or skilful.

Here's the BODI thread which carries the ongoing discussion.
Not for the squeamish:

[neudarian] 09/11/2006 15:15

since I bought a few of these a couple of weeks back, they're already showing 12% profit...thank you!

[mikehardman] 03/11/2006 13:46

further uptick

[jonwig] 01/11/2006 14:12

Mike - it's the discount which is pretty wide (at least, it was at 12.25p when I last looked).
It may well be that it's going to narrow significantly, or maybe summut's up?

[mikehardman] 01/11/2006 11:52

SOV - long 13.5 - that's too far below NAV
NAV (jun06) was 22p; the 2oct06 investment update shows how NAV has been rising since listing in 2004

[hugepants] 13/10/2006 12:26

jon, Yes agree a 10% rise in SOLA since last NAV update wont be too significant. I bought a small amount of SOV again on the fall so its just me ramping. I notice a Russian fertilizer company's AIM floatation was recently pulled due to concerns on regulating etc a Russion company. So possibly that contributed to SOV's fall because it makes a near-term float of Tynda more unlikley. Shouldnt be too significant though given SOV have 14 investments just now.

[jonwig] 13/10/2006 12:07

I've just revised my NAV spreadsheet which was well out of date.
The unquoted part of their portfolio is about 1/4 of total assets and, as they say, carried at cost.
They imply, of course, that they expect the value will be revised upwards when the investments are converted or floated.
However, they've had a couple of duds - KimCor and Concorde O&G, so I'm a bit sceptical about valuation uplift for the unquoteds.

A good move was total exit from BODI, which seems to have attracted some unpleasant rumours.

HugeP - the SOLA shares haven't really affected the NAV since their last RNS.

[hugepants] 13/10/2006 09:27

Renesola up again. SOV's investment now worth nearly 0.6M.

[jonwig] 11/10/2006 18:23

Interesting posts while I've had a couple of days away - thanks guys.

Fundraising - ITs (and SOV is one, in effect if not in law) really have to raise new money at NAV, otherwise either new or old investors are disadvantaged.
This doesn't arise if the shares are trading at a premium to NAV.

Now I know they IPO-ed at 50p with NAV of 12.5p - I suppose that will remain one of life's big mysteries.

John (post #318) - small explo miners are trading at pretty low levels and any IT investing in them (such as Starvest) will probably suffer the same fate, and then some more.

Also, (post #320) KIM was a surprise investment to me: China...? It was one of the reasons I sold my last lot.

[jhan66] 10/10/2006 09:56

Small potatoes but I noticed they've lost £10k on Kimcor since the update (£72920 down to £62500). 14% drop in two weeks.

[hugepants] 10/10/2006 09:27

Renesola is doing well. SOV's 200 grand investment in August is now worth 500 grand. How do they do it? I assume this was factored into the recent NAV calculation. Briefly looking through the other investments the only ones that look dodgy are Concorde and Sorell.

[jhan66] 09/10/2006 16:28

thanks for all the work Jonwig. They should pay you a retainer.
Can beat 40% discount right now on Starvest. 28.29p available for 16.5p

Think I'll dip into one of them but haven't worked out which one yet.
Starvest probably a bit more exposed to oil & miners then I would wish.

[milner2] 09/10/2006 14:13

Watching these closely again.
Interesting to see if they intend to raise some more cash by way of a placing before the new year.
Also Cadogan have started drilling recently.

[hugepants] 09/10/2006 14:01

Interesting that quoted online buy price is 11.45p which is less than mid-price. Im tempted to start buying these again. I guess one of the investments could be in trouble but given they have 14 now one or two duffers arent going to be that significant. I suppose there is always a risk of a discounted fund-raising say at 10p? Then again directors were buying at 17p in May so they wouldnt be keen on that.

[neudarian] 09/10/2006 09:10

Maybe we should have a whip-round? ;-)

[jonwig] 08/10/2006 12:12

It's the cash SOV had as on 27/09:

[johnyee7] 08/10/2006 12:05

Jonwig is that the cash balance on sovgem or concorde?

[jonwig] 08/10/2006 11:34

Discount to NAV is now at 40% - just about as wide as it's ever been.
The only difference, is that the shares were trading below cash in late 2005.

The recent drop in NAV is put down almost entirely to collapse in Concorde Oil & Gas shares.

Cash balance now is only £160,000 (0.7p/sh).
Note that they've said they may want to raise more funds.

[neudarian] 08/10/2006 09:10

Cheers.
neudarian

[jonwig] 08/10/2006 08:11

Neudarian - funny, same happens with me, usually!

BTW, am in the process of altering the header details.