Woodburne Sq Share Discussion Threads

[kingrolo] 15/10/2011 20:27

WTF has gone wrong here. See RNS. Disaster the right word.



Full Explanation required pdq

[orado] 15/10/2011 16:07

Gosh - TW really is adding value, isn't he? NOT.
What a disaster.

[jimbo55] 30/9/2011 08:52

> operationtwist - 24 Sep'11 - 19:34 - 381 of 383
>
> This is why I buy ETFs these days. They're much easier to sell and the fee is
> only 0.5%

Depends whether the ETF is physical or synthetic. Personally, I am coming to distrust the latter; particularly with a banking crisis on the cards in Europe.

[drrichard] 25/9/2011 22:16

Evening Orado (and Knowsleyman)

I did flirt with a re-entry but opted instead to top up with TomCo-much better upside and minimal downside, IMHO

[orado] 24/9/2011 19:20

drrichard

Hopr u did not buy and that u do not still believe in TW!

Cannot sell these at any decent price.

[orado] 23/9/2011 07:45

drrichard

Still tempted to dabble??

[drrichard] 20/9/2011 21:49

Evening all
Notwithstanding that I sold out and that Knowsleyman and others have liitle use for the man at the top, silver is around an all time high and the stock portfolio is creeping up to those achived at their peak when NAV1 was calculated

Time for another dabble perhaps?

[orado] 08/9/2011 19:09

Silver & Gold up - WSAG down. - Good job being done here by TW!!!!!!!!!!!!!!!!

[knowsleyman] 08/9/2011 19:08

Unloaded some more today.

Will just sit on the rest, at the moment, as they cost me nothing, after my sales.

[witteklip] 06/9/2011 13:33

I have an answer via a previous post:

"Graham65 - 12 Jul'11 - 17:39 - 332 of 372

The fee is only payable on new profits. ie any reduction in NAV must be made up before a new fee is due, and then the fee is payable on the difference in NAV. This is a fair way to do it."

Even so I think the 15% 'fee' is a total RIP OFF! If it was inflation adjusted (in real terms) fair enough but it is not.

Personally I expect hyper-inflation to catch the world by surprise. The banksters have the ability to take things the other way but history points to the most likely outcome. If I am right then the absurdness of TIM's 15% will become particularly apparent.

[someuwin] 06/9/2011 13:31

'IF' the NAV was rising significantly quarter over quarter I'm sure no-one would begrudge a 15% rake off. I don't hold here but by the look of the chart, the NAV has not been rising.

[witteklip] 06/9/2011 13:15

Please explain:

"t1ps Investment Management IOM (TIM) it is entitled to a fee payable quarterly in shares of 15% of the uplift in NAV per share in each quarter with no fee payable on the percentage of fully diluted equity owned by funds managed by TIM."

15%!? Wow.

I don't understand this - does this mean that with extreme volatility - the NAV can swing from high to low an back again with TIM harvesting a 15% fee if the NAV is up on the start of quarter? I guess not but anyone can someone please explain how this system works and why such a fee is justified?

(Although silver is an industrial metal most of its gains appear to me to now be directly linked to the devaluation of money. So the majority of the rise is P.M. prices is largely a result of the devaluation of money - On that basis TIM will supposedly make money in this sector regardless of his 'skill/ability' - in fact people investing in P.M.s could just as fairly pat the government/banksters on the back for devaluing money and bung them an extra 15% - but in real terms your investment is more likely standing still despite the apparent rise in price.)

Why would anyone invest in a company that appears to be massively skimmed by TIM when they could independently invest in the component parts?

Perhaps that 15% is really fair after all - If you think so please explain why you think that it is?

Am I the only one who thinks that TIM is probably a XXXX?

[marab] 06/9/2011 10:27

knowsleyman - that's pretty much how it goes with this stock. People buy on hope, sell on boredom, get locked in, sell at any price, good news comes out, and repeat. Last time I was in this I just bought more when they halved in price. The saving of this stock now will either be a re-rating of gold shares, a great deal, or selling onto someone else as a potential shell. Current discount to NAV would appear to rule out the latter though. Ironically CPS was in the same position as you are currently in - he stuck it out for a while as he had high hopes, then he sold out (telling everyone he was doing so as you currently are) and put it in SEA etc. and made back his losses and then some.

Placings are inevitable here I would have thought but I have difficulty seeing them being at a premium at the moment, but if they start being dilutive the game will be pretty much over here for TW so I would expect him to avoid that scenario unless he can offer a bargain investment to compensate. The annoying thing here is he knows what his plans are and nobody else does so it's impossible to make a rational investment decision. Tricky choice whether to sell now or hold and I hope you make the right decision. You might have a chat with TW to see what the future plans might be, as you steadily selling shares here would not be to TWs advantage at all. Unless of course there are plans to do something with the company and he is happy to buy shares cheaper. The joys of AIM.

[knowsleyman] 06/9/2011 09:58

Have sold some of my holding this morning and had to do it in tranches.
The most you can now sell online is 10K. Pathetic. Andtrying to deal the convential way was no better.

[knowsleyman] 02/9/2011 08:02

I wonder if we are to have a further placing and issue of more loan notes following the pattern set by AHG?

[knowsleyman] 31/8/2011 09:03

It would appear that TW has such confidence in the company that he controls the investments of that his fund has sold 739,795 shares.

Let us hope that this is the start of a steady disposal so that someone can use this as a 'clean' shell and take it over.

You will also note how long it took to issue the RNS advising the market!! In my opinion this is as bent as a nine bob note.

[knowsleyman] 30/8/2011 17:02

schooly

And at the time they issued that wodge of paper it was illegal!

The position was only corrected by an EGM after I jumped all over them.

[orado] 30/8/2011 08:35

Well he hasn't done well so far.

[dosser2] 30/8/2011 08:28

TWs latest thoughts...........

To silver with Directex Realisations (DXR) which on 7th January will have an EGM to change its focus from being a failing media play to a silver investment company. Its Chief Investment Officer ( a la Athol Gold) will be me and its name will become Woodburne Square Ag. The share price is now 4.75p valuing it at £2.38 million. Assuming that it flogs one small non -core media asset soon it should have c£1.6 million net cash or 3.2p per share. That will almost all be invested in silver stocks mainly in Canada and Australia. Now given that I expect silver to go from $30 to $50 over the next 18 months and given that we have a pretty good record of stock picking so should outperform I would expect the NAV to be well North of 4.75p by Christmas and for the shares to trade at a premium to NAV when folks realise what is going on. There is one other potential bonus here. The company may or may not be due a tax rebate in France in 4 years of up to 5p per share. We are investigating this closely and we reckon the odds are against it but it is just possible that there is a windfall gain to be enjoyed here as a bonus. Treat that as a bonus. As a silver play if you can grab any Directex at sub 5.25p I reckon that you should - Athol often trades at a 50% premium to NAV and so - in due course - will Directex I reckon. And it would not take much to get NAV hurtling past 4p per share given the outlook for silver.

Directex has indeed changed its name to Woodburne Square Ag (WSAG). The shares are now 3.375p , falling with the wider silver sector. Will silver charge ahead over the next year or so. Yes it will. We would still expect $50+ during 2012. This remains a good long term silver play. When, not if, silver stocks fly Woodie will take off. Patience is needed but not, I sense, for long.