Thor Energy Share Discussion Threads

[ianbag] 08/3/2018 12:09

There isn't a double top Geko - its a continuation chart the same as Versarien which Chris believes is positive (and coincidentally long) - cant have it both ways Chris.

[cudmore] 08/3/2018 11:13

Stig

Why don’t you just f@ck off. Shorters like you are just scum

[the stigologist] 08/3/2018 10:54

Anyone doubt double top formation now?

[jarega85] 08/3/2018 08:35

ASX had a fairly decent run yesterday finishing 10% up. Their finish today is equivalent to 2.50 for us

[paleje] 08/3/2018 08:32

But on pocket money trades, doesn't mean much.

[abrahe00] 08/3/2018 08:02

Wow... Down nearly 20% on ASX. Can't be good news...

[paleje] 07/3/2018 09:50

Shares held in Beaufort could be locked for a while. Todays Times:-

...The administrator to Beaufort Securities, the failed City broker, has warned that it could take “many months” to return cash to investors.

PWC confirmed that it expected to make substantial returns to clients after costs and that it had ringfenced £50 million in segregated client money accounts, alongside freezing close to £800 million in client assets. Nigel Rackham, joint administrator, said that the process of returning the money was unlikely to begin before mid-April.

The Financial Conduct Authority placed Beaufort into administration on Friday after discovering a shortfall in its finances. It was declared insolvent and about £700 million of funds tied to investments were frozen. The announcement came shortly before American regulators said that they were bringing criminal charges against Beaufort and a collection of individuals for an alleged scam to manipulate the share prices of small-cap companies. It is not known whether those accused deny the charges.

Beaufort invested on behalf of thousands of retail investors, issued research on companies and acted as a broker for more than 60 corporate clients. At least 14,000 clients are understood to have held shares, pensions and Isas with Beaufort...

[edgein] 07/3/2018 09:18

Abrah,

Yeah a JV on PM and free carry though exploration, feasibility and potentially some development could do the trick. MB has been in discussions for some time for PM, according to a previous RNS financiers pushing for the feasibility study. Might get one of our assets reflected in the price then. A cap in the teens doesn't really reflect our assets at MH, Kap let alone the tier 1 PM. Its just a waiting game as the company is well funded into next year and as you suggest we could still get another couple of £mil in from more warrant conversions. If I held warrants I'd want to get them all exercised before they do the JV.

Regards,
Ed.

[abrahe00] 07/3/2018 09:01

I don't think it's oversold. It's these warrant conversions that are keeping a lid on the price. With a glut of cheap shares available on tap, it'll take some major event to move this significantly north of here.

AIMHO...

[jarega85] 07/3/2018 07:53

A good bounce of 10% on AX, hopefully we can replicate and start a steady climb again.Definitely in oversold territory here.

[noirua] 07/3/2018 01:57

Investopedia - NOMINEE

[geko5trade] 06/3/2018 20:41

Noirua, You can still get share certificates and they are still valid. You are talking about a situation where you traded with a particular broker and the broker has opened the position with the mm. So both the mm and the broker have the status of the trade on their system. In the 12 min case you could have opened the trade on a T2 and closed it on a T2 having never actually paid for the stock. That has always been the case in fact it used to be even easier to take out extended T trades. You could hold the stock for 17 days and 12 minutes and still not pay for it!
I have to say I do find it difficult to understand what the regulator and others are saying regarding the Beaufort case. If you are on the share register then you hold a stock and I can't really understand why that asset should be compromised. It was bought and paid for by the retail client along with all the other charges levied in the transaction. It is very easy to look at the nominee account and work out who held what and I can't see why those securities should be considered 'Beaufort' assets. All Beaufort did was broker the deal. Likewise money held in retail clients accounts should have been held in a separate company, be ring fenced and returned. If that isn't the case then the regulations are pointless.

[noirua] 06/3/2018 20:24

As to Thor, it is just a case that some have been kicked in the Twitters, they'll get over it. The share has been oversold, imho, and hopefully it's just panic selling and traders exiting to get back in a bit lower down the chart - good luck.

[noirua] 06/3/2018 20:15

Unfortunately a share certificate only says what shares a person held at a certain date - if it's genuine of course. The days in the past when we could send a certificate in the post to a broker and back came a cheque is long gone.

Most traders pay £5 to £6 per trade. As I held one share for only 12 minutes it would have been very difficult with a share certificate. Especially so if it was Australia or Hong Kong. Some are stumped if they have to buy an envelope and put a stamp on it.

[geko5trade] 06/3/2018 00:08

lachman, I'd say that the chances are the share register will only list that the securities are held by Beaufort so I suspect that one cannot easily obtain the certificates. Normally these days a broker, for a fee, will send out the certificates on request. Hence given that Beaufort are presumably incommunicado it would be difficult to 'take' those shares to another broker. Having said that contract law is actually very strong and I don't think that ultimately there can be any question in law as to who owns the shares. For example if you bought a house and the Estate agent and solicitor you were using went bust this would not mean that a contract did not exist giving you the right of ownership of the house. This is a common misunderstanding when people talk about 'no signature no contract'. Actually usually the final signature on the final document is 'the receipt' of the contract. It is not the contract itself which can have been agreed by letter, email, verbally etc. I think in law the share certificate is the receipt of the contract that you agreed and was executed on your behalf, i.e. willing buyer willing seller. The broker facilitated that contract for a fee and whilst they may hold the receipt in electronic form the receipt itself does not change the nature of the underlying contract in law.
This was why I posted previously on the issue because I think it is relevant for all of us. Holding physical share certificates would certainly make life easier should a bank or broker go bust. I also think that there can be no question in law as to who owns the shares or to the value of monies held on account since by law that money is required to be ring fenced. Therefore I also think that when compensation is considered it should not relate to ownership of the stock or to the value of monies held but to the loss incurred by the client due to the inability to trade that stock or use monies restricted due to the broker's misdemeanours.
Obviously all in my opinion. It is a bit of a side issue from THR but I'm surprised no one else has commented on my previous post. Nothing affects PI's until it does!

[lachman] 05/3/2018 23:05

Question
I have nearly all my shares with Beaufort Security in there Nominee Account.
I have tried all Known Avenue to get some information without any success, all I'm told is to wait for News Release.
Can anyone Expand on this please
Lachman

[paleje] 05/3/2018 10:24

PJ must be on holiday, quite a few twitterers seem to be too, eerily quiet.

Where was it the FBI said masked accounts were held, BVI, Caymans, can't remember, somewhere warm though.

[ianbag] 04/3/2018 16:06

Think you know who I mean stig - still not been on the charting course have you

[the stigologist] 04/3/2018 11:17

Geko I think he must have been talking to his partner in bed and his speech to text program transcribed it onto here?

[paleje] 04/3/2018 11:16

ST business editor Ian Dey's column today, Beaufort first up:-



I'm surprised no comment from tweeter-in-chief PJ since this hit the fan, it is relevant to THR as Beaufort worked for them until Dec last year when they kicked them out after some awkward questions were asked at a presentation which put Mick on the spot and he 'couldn't' answer. Questions about organised shorting and manipulation.

PJ often tweets about market manipulation, carefully chosen words. But now, when very clear evidence of exactly that is emerging, he goes quiet. No condemnation, no thank goodness they've caught some crooks, nada.

You'd think PJ would be applauding the exposure of Beaufort, perhaps he will next week:)

Might even get a bit less manipulation on here if one or two are feeling the heat.

[geko5trade] 04/3/2018 10:45

Ianbag, who's Chris?

[ianbag] 04/3/2018 00:09

I understand You have had your fair share of sleepless nights Chris.

[geko5trade] 03/3/2018 23:10

Interesting maybe we should all be wary. Some time ago I posted that if one held a stock and one had a dispute with a broker over ownership of a security one could go to the LSE and ask them to check the share register and send a share certificate out. This share certificate could then be taken to any broker and traded. However in the case of Beaufort, (and most brokers), where share certificates are held in nominees, as is normal for most PI's these days, and the regulatory authorities have placed a freeze on trading of the broker's assets, does this mean that the PI cannot trade assets that are owned by the said PI. In the case of a nominee account who owns the security? Is it the PI or is it the broker on behalf of the PI? The broker executes the trade on behalf of the PI but this does not mean that 'the contract' for ownership of the stock is between the broker and the exchange since ultimately it is the PI who would be liable for the position. So when the assets of a broker are frozen is it legitimate to freeze the assets, in the form of shares, of the PI.Perhaps we should all ask for paper share certificates to be sent out on a regular basis just like the good old days.