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Silvercorp Metals Inc. Message Board

asianvest 42 posts  |  Last Activity: May 23, 2015 12:31 AM Member since: Aug 6, 2001
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  • Silvercorp's 16,500,000 share repurchase program (NCIB) runs Dec 23, 2014 to Dec 22, 2015 and permits the company to repurchase up to 58,872 shares/day (with exceptions).

    Weeks since inception: 21
    Weeks remaining: 31

    Open price on December 23, 2014: $1.22
    Last close on May 22, 2015: $1.24
    Gain to date: 2%

    Shares repurchased to date: ZERO

  • Reply to

    My guess for F2015 results...

    by asianvest Apr 14, 2015 2:09 PM
    asianvest asianvest May 22, 2015 3:39 PM Flag

    I guess the answer is: if it was easy for me to accurately work out the FY results back in April (excluding the non-cash write down), then I figure others did too... so it's not much surprise the stock trades now for what it did when I first posted (around $1.20-1.25).

    If you look at their guidance for the coming year, it shows slightly higher ore mined and generally lower head-grades, so if metals prices rise a bit, they might earn a dime for 2016... if silver stays around $17 or lower, they probably won't.

    FWIW, Van Eck has been reducing its holdings, and Silvercorp (and the insiders) has/have not been repurchasing shares at these price levels.

  • Reply to

    My guess for F2015 results...

    by asianvest Apr 14, 2015 2:09 PM
    asianvest asianvest May 22, 2015 12:57 AM Flag

    The F2015 actual reported (for the year):
    Ore mined = 910,201 tonnes
    Silver = 5.1m oz
    Sales = $128.5M
    Net Earnings (shareholders) = $15.2M
    EPS = $0.09

    The small surprise is: they *lost* money in the 4th Q (disregarding the $130.3 million non-cash impairment charge).

    Including non-cash impairment charges: net loss of $0.60/sh

  • Reply to

    Almost back in business!!!

    by asianvest May 11, 2015 11:03 AM
    asianvest asianvest May 19, 2015 9:43 AM Flag

    Okay, sorry, I thought you were implying there was a "secret bank account" with cash that shareholders of this stock could somehow gain access too. I gather we both agree that the money raised for this stock was swindled, and the shares now worthless.

    As for how much was actually raised: this is a quick reply, but my recollection is the after-fee proceeds from the secondary was closer to $20-25M, but I haven't looked it up lately. There was no IPO (this was an RTO). If I remember correctly, there were 2 PIPE offerings raising about $20M (again, I didn't go back to verify). Plus, there was whatever money was raised in China from local investors who were sold chits that got them restricted shares in the US once the RTO was completed. But some of the PIPE investors sold into the secondary offering too.

    Out of that, was all the money paid to -- or shared with -- Gareth Tang, Loeb, Weinberg, Thornhill, R&R, Peng Zhou, CER, RedChip... and all the loyal "employees" and affiliates who helped bring you this lavish production!

    (Not to mention the actual cost of building and staging the facilities.)

  • Reply to

    Almost back in business!!!

    by asianvest May 11, 2015 11:03 AM
    asianvest asianvest May 18, 2015 12:53 PM Flag

    Ren & Co. (with the well-paid support of Loeb, Weinberg, Thornhill, etc.) did raise money by scamming investors... but it was nowhere near $100M -- and to the extent it was a scam there is zero reason to believe the perpetrators would leave cash sitting around for years to be confiscated.

    The $100M figure was based on the fiction that they also earned astronomical profits from running a business. (And completely implausible if you think about the business.)

    And the simple evidence that there isn't any meaningful cash, is that the market cap of the stock has been negligible for years... if there really was $10-20M in value, the shares could have been repurchased, or taken private, years ago.

    [And why would you believe anything reported by the facilitating firms -- do you not understand that they were paid high fees to entice investors into believing a bogus story? Call up Debby @ Crystal -- she was paid to actually tour an (inactive) wet-coal facility and report about it.]

  • Reply to

    Almost back in business!!!

    by asianvest May 11, 2015 11:03 AM
    asianvest asianvest May 17, 2015 10:44 AM Flag

    You're joking, right?!?

  • Reply to

    lawsuit update

    by alicesmoney Apr 16, 2015 6:04 PM
    asianvest asianvest May 16, 2015 5:35 PM Flag

    Did you find your answer? The decision is on the BCSC site, or you find plenty of news summaries from the past few days.

  • Reply to

    Almost back in business!!!

    by asianvest May 11, 2015 11:03 AM
    asianvest asianvest May 16, 2015 5:31 PM Flag

    "You say that the company is 'Almost Back in Business!!!'"

    ...ugh, I didn't realize I needed to post a disclaimer, but, well: that headline was snarky.

    (Yeah, be patient -- a few more quarters won't hurt you -- soon enough they will have legal access to the financials in Chana to enable them to file new SEC reports to show the company never earned the revenues it claimed and was a sham from the start for the purpose of duping lazy investors. That should be obvious to you by now. Coal slurry would never make much profit, it's only good for pipeline transport and moderately more-efficient combustion -- not cost savings! And why deny the Receiver and his posse -- and Weinberg's affiliate -- the right to earn thousands more in fees from gullible investor types? WHAT DID YOU EXPECT? $100 million in "Thornhill-verified" cash sitting in a bank account???)

  • ADMINISTRATIVE PROCEEDING File No. 3-16456

    ANSWER OF SINO CLEAN ENERGY, INC. by the Receiver, Robert W. Seiden, Esq.

    [excerpt]

    ...

    4. Since the appointment of Mr. Seiden as Receiver for SCEI the Boards of SCEI's wholly owned Hong Kong subsidiary (Wiscon Holdings) and SCEI and Wiscon's wholly owned operating company in China (TSCE) have been reconstituted and the former Chairman has been removed.

    5. As recently as two months ago, new business licenses have been issued by the Chinese Ministry of Commerce in the name of the new Board of SCEI's wholly owned Chinese operating company TSCE.

    6. Additional efforts are underway by the Receiver and his professionals to obtain from the appropriate Chinese ministries the commercial seals (or "chops") required in China for a company to effect most commercial and some legal transactions in the name of the new Board of SCEI's wholly owned Chinese operating company TSCE and to remove the former Chairman from his position as CEO of TSCE, thereby giving the Receiver access to the financial information required to make SCEI's filings with the Commission.

    7. While the Receiver does not yet have legal access to the financial information required to make SCEI's filings with the Commission, the Receiver has issued a series of broadly-disseminated press releases as well as Status Reports to the Second Judicial District Court of the State of Nevada in order to keep the investing public and U.S. and Chinese government and judicial authorities updated on his progress, The Receiver will continue to issue periodic public updates on his progress until his Receivership has been completed.

    ...

    Dated: New York, New York April 23, 2015

  • asianvest asianvest May 11, 2015 10:50 AM Flag

    No... and SEDI dot CA

  • Silvercorp's 16,500,000 share repurchase program (NCIB) runs Dec 23, 2014 to Dec 22, 2015 and permits the company to repurchase up to 58,872 shares/day (with exceptions).

    Weeks since inception: 17
    Weeks remaining: 35

    Open price on December 23, 2014: $1.22
    Last close on April 23, 2015: $1.22
    Gain to date: ZERO%

    Shares repurchased to date: ZERO

  • Reply to

    Nevada Business License updates filed!

    by asianvest Apr 22, 2015 9:11 PM
    asianvest asianvest Apr 23, 2015 11:08 AM Flag

    I agree about the comical element!

    But it sure will be interesting to see what, if anything, gets filed for financials. (Since either, it will show the company was a sham from the start -- and the $100 million in cash, the cash supposedly "verified" by Thornhill, was a fiction... or... it will continue the farce and thereby betray the ethics of the upright gentlemen who are funding this crusade. Regardless, seems inconceivable anyone will gain more than the few dimes the shares now sometimes trade for. Well, the folks getting paid fees will make out, as always.)

    I'm wondering if we can shortly expect another breathless boastful press release from the 13-d committee???

  • SINO CLEAN ENERGY INC.
    President - GREG GRAISON

    Address:
    1120 AVENUE OF THE AMERICAS, 4TH FLOOR
    NEW YORK, NY 10036

    Action Type: Annual List
    File Date: 04/22/2015

    -----

    [N.B. IMHO this update was necessary in order to reply to the SEC's OIP. After all, the Receiver could not very well contend SCEI is being grossly mismanaged while at the same time doing nothing to replace the Nevada corporate Officers. This is getting entertaining!]

    [[P.S. Looks like they spelled his name wrong on the filing -- should be "Gregg" Graison! And of course the address is just a virtual office space.]]

  • asianvest asianvest Apr 21, 2015 2:15 PM Flag

    Actually, this is a US stock and a US corporation, that happened to have been doing (allegedly) business in China. Why should any foreign government compensate you for losing money from investing in obvious scams?

    If you're concerned about negligence -- why not seek compensation from the licensed (or unlicensed) US professional firms, the lawyers, CPAs, stock promoters, etc., who kept insisting SCEI and the wet-coal business were legit -- and getting paid big fees to do so?

    They all have offices or affiliates in China -- shouldn't they have known the only reason a company that claimed to be vastly profitable and have tons of cash and no debt would raise more capital from US small "investors" was to cheat them? Yet the disgruntled 13-d types have apparently installed an associate of the very same CPAs (who were paid big bux for "auditing" the finances) into the Directorship of Wiscon. Hmmm, do you trust their cronies to tell you the truth???

  • Reply to

    lawsuit update

    by alicesmoney Apr 16, 2015 6:04 PM
    asianvest asianvest Apr 16, 2015 11:46 PM Flag

    It's not a lawsuit.

    There is no court action.

    There is a frivolous minor regulatory hearing report due from the BCSC about some online posts back in 2011. Apparently the regulators are less concerned with the accuracy of the forecasts about what would come to pass with Silvercorp, than that the respondent "has no formal training or specialized designations relating to analyzing or issuing reports about the merits of an issuer or its securities."

    (You'd almost believe the BCSC thinks online readers are idiots. And that encouraging small investors to gamble with highly speculative companies that invest in offshore partnerships to mine lead, zinc and silver ore in remote China is a virtue.)

    Me, I think this nonsense regulatory babble is just a chummy payback to The Honourable Jack Austin, P.C., Q.C., B.A., LL.B., LL.M., Doc: Soc. Sci. (Hon) -- a belettered former Canadian Senator and Cabinet Member who is in really, really, really, really tight with Silvercorp's CEO.

  • ADMINISTRATIVE PROCEEDINGS RULINGS
    Release No. 2545/April 15, 2015

    [excerpt]

    On April 8, 2015, Barry J. Mandel (Mandel), counsel for Robert W. Seiden, Receiver for Sino Clean Energy, Inc. (SCEI), filed a request for a twenty-one day ex tension to answer the OIP (Motion). In the Motion and at the prehearing conference, Mandel represented that the revocation of the registration of SCEI’s registered securities should not occur because certain plaintiffs, who hold at least fifteen percent of SCEI’s outstanding stock, were successful in having a Receiver appointed based on allegations that SCEI is being grossly mismanaged, and that there is a possibility that the missing financials may be filed soon. See Motion Exs. A, B. Mandel also represented during the prehearing conference that SCEI’s shareholders would be harmed by the revocation of the registration of SCEI’s securities.

    I GRANT SCEI’s request for a twenty-one day extension to answer the OIP by April 27, 2015. As ordered at the prehearing conference, the Division of Enforcement (Division) may file a motion for summary disposition as to SCEI by May 15, 2015, SCEI may file a brief in opposition by June 19, 2015, and the Division may file its reply brief by July 6, 2015. 17 C.F.R. § 201. 154, .250.
    _______________________________

    Brenda P. Murray
    Chief Administrative Law Judge

  • Silvercorp should report their annual results for F2015 next month.

    My guess is the report will show:
    Ore mined = ~900,000 tonnes
    Silver = ~5.1k oz
    Sales = ~$130M
    Net Earnings (shareholders) = ~$21M
    EPS = ~$0.11

    * Disclaimer: I don't actually believe what their reports claim is necessarily factual, but this is what I think they will report.

  • Reply to

    The Only Numbers You Need to Know ...

    by trade_pro101 Apr 10, 2015 2:35 AM
    asianvest asianvest Apr 14, 2015 1:51 PM Flag

    Hey hey... here're some numbers for you:

    In Fiscal 2009 (the period that includes October 2008), Silvercorp reported Net Earnings of NEGATIVE $16 million -- or a LOSS of about 11-cents per share.

    In Fiscal 2015 (the FY just completed), the company will be lucky (lucky!) if they report earnings of 11-cents per share.

    Remember, mining is a DEPLETING asset...

    Over those past 7 years, Silvercorp reports having mined out nearly Five Million Tonnes of Ore -- reportedly yielding around 33 million oz of silver -- that's now GONE. POOF! History. Sold off, and no longer an asset. (And what did you get for that? A $1.20 share price and a few dimes of dividends.)

    It will take a lot more than $16 silver to get a meaningful investment return.

  • Reply to

    They will be revoked in 6 days!

    by lbcb321 Apr 7, 2015 12:27 PM
    asianvest asianvest Apr 14, 2015 12:03 PM Flag

    Hey lbcb, *some* links will post -- for .gov domains, for example -- you just gotta test it out.

    (BTW, if it was unclear to anyone because of the threading, my earlier post to "George" was not directed at you, but to one of the morally righteous 13-d-dupes, whose indignant rants conceal his own complicity in now attempting to hype a worthless scam stock -- because his feelings are bruised that if he admits the company is a fraud, then he would be deemed sucker for holding out faith for so long -- so to bolster his own ego, and garner a few bucks, he'd now rather lure in greater fools to bid up the share price. Really pitiful!)

  • Reply to

    They will be revoked in 6 days!

    by lbcb321 Apr 7, 2015 12:27 PM
    asianvest asianvest Apr 14, 2015 10:51 AM Flag

    Hey George, rather than hopping about like a crotchety old schoolmarm (I'm sure your former students are amused by your delusional obstinacy!) -- why not post a link to be helpful:

    https://www.sec.gov/litigation/apdocuments/ap-3-16456.xml

SVM
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