Tanfield Group is the new company name of Comeleon. As I understand it, Comoleon was getting into trouble so TAN (paerent company?) took over. Since this has happened the share price has dropped by 0.25p each day for the last week or so (on average) and are now around the 3p mark with very little activity.

Does anyone know much about this company or previously held stock in Comeleon? There is virtually no info out there other than on the company website.

cheers

Mike

goldfinger, I share yr concern...at lest that's my reading of the Market. However, some of this cash-burn was for material which they now have - it's just that orders are being cancelled and delivery put back (for the cherry pickers), since many go to Hire-Firms, conserving their cash in a downturn. If TAN has fewer orders then they need less material and worryingly they have 200 vehicles unsold - but at least they have them...so potential value. I understand the electric vehicles are still on-target and recent orders would confirm this. These are partly driven by the London Congestion charge being set to increase, hence with diesel (etc)...electrirc looks a clever move.
The company needs to do a lot better via RNS and not take so long about it. I hold from 10p and am waiting to find out more, watch the sp etc. Compared with others at 1++ I'm lucky, but not happy.
Are you a holder, do you attend agm's - what's yr take on the Execs?
AGM is in Sept-ish, probably Co.Durham......a long way for me.

Unfortunatelly TAN took advantage of the City excitement when placing and the City paid dearly for a good business about to hit zero. TAN kept quiet, but they still have a spectacular business with potential ( the Snorkel, high-lift). IF they can weather this savagery, this is a good business in good times.

So, of course is Taylor-Wimpy and others suffering from 1)lack of sales and 2) costs piling up. These business could fail as their cost-base is so wide. They are retracting, but have to pay for land already bought.

TAN by contrast needs some effort at the top....to sell the picture as it is....can it really be worth only 18m, with a turnover in pickers of 91m, in the first half. maybe 20m of electrics. and 11m in the Bank (subject as you suggest to any bills arriving).....it just looks too cheap...but what do I know?????

PS just read item in Shares, reminds me TAN claims sales for cherry - are increasing in Middle East and Russia. +Presumably untapped in those countries...

Hi hangon, no not a holder of the stock but have been interested in the electric vehicles and the story going forward.

I would suggest that to have 200 vehicles unsold makes the cash burn position even more dangerous.

Time will tell but I cant share your enthusiasm at present.

Good luck though, regards GF.

Northern Rock's former boss Adam Applegarth set for a City comeback at Tanfield

From one basket case to another.

"Northern Rock's former boss Adam Applegarth set for a City comeback at Tanfield"...good grief that"s all they need.

We're in a spot of bother.....but don't worry Baldrick, I have a cunning plan.

Plan my lord?

Yep. Time for a state bailout with lashings of cash......I was reading about it only last year.....now what was that guys name?

:-)

Strawbs

I still like TAN but applegarth surely not!

Yep but hes a dab hand at raising funds.......... LOL.

Only joking holders.

The electric vehicle unit may attract a bidder, im sure one of the big boys would like to take that part of the company out on the cheap.

goldfinger - what about the possibility that the 'somebody' who takes the Smith EV division on the cheap, might be Roy Stanley himself?

His head is on the block for what's happened to Tanfield (though he's had very little input this year) and he may be sacrificed. But if he offers the institutions a deal which takes the EV side away when he goes, and maybe involves paying them a percentage of future performance gains (ie he takes on the risk but gets a bargain and they share in any winnings) will they posssibly take that as part of the solution?

He then rolls it in with his Darwen Holdings (DHP) (soon to become Optare) and takes a few other Tanfield people there with him.

Just a thought.

Yep its a possibility Juz.

Im sure theres quite a few eyeing the EV division at the moment.

I see over on SC that Evil has closed his short earlier this week, but his sidekick winnie his saying these are worth 0p!!!!!!!!!!!!!!.

Going down again.

What the feck would Winnie know ... he's got it wrong so many times before

SC should have helsd his short a few pence to go yet. Never witnessed such prolonged selling since last week. Would seems institutions are just dumping stock on the market. Imho 2p by the end of next week.

Distressed seller ... expect a large dump to show up after hours.

that Winnie is a fat head case.. 0p ..yeah right

Hopefully next weeks trading will show him to be the dork he truly is !!!

the real question surely is whether TAN is truly worth more than say SEO?
my guess is yes, and by a considerable margin.
however, there are so many "bargains" around at the moment, and no indication that things are going to get better (and perhaps much worse) in the next few months, that jumping in here may not be the best choice.

cynic
I agree in a normal market or even six months ago this would have bounced by now to at least 15p+ so still out at the moment.

mentioned ages ago i didn't like the look of things (and the chart in particular) and was waiting for 60p, still haven't bought, im with everyone else here, worried about cash, if they need to raise more they will have to issue a massive amount of extra shares and thus dilute further - however i still believe firmly in electric vehicles, could be an unbelievable recovery play in 12 months if they survive...