Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well that was the kiss of death!
For the traders the chart is starting to look bullish
Good luck guys, the numbers from yesterday's results were just worst than I thought and I just don't believe they can improve much in H2 due to a number of factors.
Almost got to 18p. think thats resistance pt.
I could be wrong, but I can't see any catalyst in today's results or outlook statement to support the share price at its current level beyond the next few days.
From memory, the same thing happened at the recent 20p placing. A brief small rise above the issue price, followed by a series of small cuts eventually taking it well below 20p.
Good luck to anyone adding. But for me, given the subdued outlook statement & this company's track record for accurate forecasting & guidance, IQE is uninvestable right now.
Market not sure how to react today. I will add at these levels. IQE have been one of my best earners over time. Needs a bit of patience but remain confident.
"In a challenging macro environment, we have taken decisive action to manage costs and deliver immediate efficiencies"
I hope that salaries and bonuses have been a part of this management of costs.
Share some of the pain too until things improve ! (some chance)
Well done. Smart.
This is a super cyclical so the market will aggressively look forward to any hint of earnings recovery. The old rule is to buy a super cyclical on the last earnings CUT. If you wait for the earnings to move higher, you’ll miss the big moves. Takes a bit of guts but otherwise there’s no point trying to play in stocks like this.
Well Lordloads, I bought in case of any unexpected positives and bought again on the results. IQE has made me a lot of money over the years and I am sure this lull will do the same.
I use basketcase wrongly really. What they do scientifically is brilliant. They just don't know what to do with what they create, where to sell it and who to deal with. They are a necessary component to the tech hardware industry. Their market cap has no relation to their commercials. It should (and to a degree is) measured as a value to the industry it serves. It has been clobbered before and rose, I am sure it will do the same again.
On the flip side, the smartphone market has no real innovation. I like the play courting China/India players. Upgrade cycle times are only increasing in western Europe/US and carriers/OEMs have run out of marketing ammo to improve these hence the fact is £1K for flagship devices. IQE needs to succeed on the diversity play they are trying to make and yes, AI application will be a massive part.
As bad as the results are they are inline. There's no surprise. IQE has compelling technological advantages against it's competitors which still don't really exist beyond OEM attempts to build their own compound semi capabilities. If the demand's not there though we're not going to make money. There are promising signs but I think we'll all be disappointed until we see the kind of response they're anticpating for H2 and 2024.
*go and buy some more
As nice as it would be to have a competitive option in the UK, realistically when this is perpetually loss making with no sign of that changing you have to wonder if there's any point them carrying on. While fabs in Asia go from strength to strength sadly this is now only being kept alive by shareholder cash. Might as well shut the doors really.
Joseywales - so just before the results came out, you bought shares in a company you knew to be a basket case. Then when the results were every bit as bad as people imagined (indeed worse in most people's eyes), you can & buy some more.
Well, good luck with that strategy.
Nothing surprising in the results. All priced in really so was happy to by more just now. This company will likely always be a basketcase until brought into a larger entity. Just embrace it and don't hold long.
Hmmm, according to Deloitte the top 10 global chip companies’ combined market cap is down 34% from US$2.9 trillion in November 2021 to US$1.9 trillion in November 2022. 2023 is a pause and reset year. IQE isn't even a semiconductor company. It relies on longer product development cycles and so any recovery in the tech sector takes longer to reflect anyway.
I consider that IQE has acquired considerabkle expertise at something: Making Losses.
Previous CFO was useless (& pushed out). That said, these results are dire.
CFO bailing was the red flag
If you think the semi-conductor industry is cratering it's hard to take you seriously.
How is the market booming? It's absolutely cratering outside AI hype.
Terrible update…net cash at 5m??? 150m mcap
Thought the semi industry was booming as well?
All IMO
Double digit growth from 52m. That 30m stock was never lost business. Hard to determine what this actually means. They need 70m in H2 to reach 120m. That requires 30%?
The excuses about a semi-conductor downturn no longer make any sense when apart from IQE the industry is absolutely booming
Very much a Jam tomorrow update, the figures are horrible compared to last year, let’s see if the market believes them.
Horrible results in a horrible business cycle. Will be quite the turn around from here if they can be profitable by the end of the year. Will be a very optimistic sign the cycle has bottomed should it happen.