Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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...For a couple of grand...
Well someone paid full ask. 3.94
Just PI's fiddling about. No really big buys or sells for ages. We need a couple of IIs to create sustained buying pressure. We're just seeing pin money floating about, a few hundred quid here, a thousand there...nothing of interest. We need £10k chunks every 10 minutes to float this boat!
Very strange share. Going up with sell and goes down with buy
Lol Me Jinx. I’m assuming now that you’re being obtuse, cos nobody is this stupid. Good luck with your maths/common sense o’grade. :-))
Sorry, I should have put a :0) after ‘Aarghhh’. I’m smiling...honest!
Oh my god....Aarghhh!!! Right, you just written it. They’re working on reducing the annual costs, that’s ANNUAL COSTS from $4.5m to $2.5m. Check my posts but I believe that’s when I started becoming more positive. Now, regardless of the cost cutting measures, however welcome they are, the board have spent nearly the ANNUAL budget in six months. What is it that’s making this difficult? I get that they have completed preparatory works for Lixus. It all costs money but therein lies the issue. Chariot have no financial commitments but they still need to continue these preparations if they’re to acquire a debt partner/creditor. So it’s no good saying ‘we have enough money to last two years with no financial commitments’ as work on Lixus is on-going.
The bottom line is, there is enough cash to run the company for a further 2 years (or near as damn it). If the BoD have not made significant progress by then to render our current cash balance irrelevant, then we will have far bigger problems than whether our $5.8m will last 22 months or 24.
But that’s the problem with you Mr Jinx, you are completely ignoring “what is there in black and white”!!
The following is from the 9th April update which clearly states they are still working on cost reduction measures, which is why I stated in my earlier post that I excluded the first half of this year from my calculations.
“ Each Director has elected to take 50% of fees or salary as share awards rather than cash. In addition, some staff will be released, others will be moved onto consulting agreements and additional costs will also be reduced or removed from the business. These actions will decrease annual running costs from US$4.5 million to US$2.5 million whilst maintaining our experienced, high quality and operationally excellent team who are focused on creating significant value through project delivery.
The wording in yesterday’s interims (and the language used during the presentation a month ago) is completely different because the BoD are now using past tense i.e. the cost reductions have now been implemented. You are completely ignoring this in your latest post and in your “projection” yesterday.
It’s nothing to do with me being “Mr Positive” or putting my fingers in my ears, it’s about carrying out a simple calculation correctly, using the information we have been supplied with. What you are doing is making up your own numbers, ignoring what the BoD have told us, and deliberately imo, putting a negative slant on things, as you always do.
That’d be nice Goon.
Whimax, I accept you want to be Mr Positive but Chariot have nearly burned through in six months, what they have stated previously as a years budget. Fair play if you’re not concerned with that, a fool and his money...and all that. I guess you can’t remember the $6m write down which wasn’t declared to us punters. We only found out after I noticed the cash in bank balance didn’t tally with my ‘calculations’. I even got grief from PM for that as he thought, as you do now, that I spout nonsense. I’ve yet to be proved wrong yet in the six years I’ve been here.
I’ve only ever said what I see but you carry on slinging insults and singing lalalala with your fingers in your ears if you like. I’m not ever going to ignore what’s there in black and white for all to read.
Well I am plucking a SP of at least 8-10p before Christmas IF we bring in a partner by then.
Sentiment is already smiles better than when the Clown was allowed to be CEO for far toooo long !
Was Adonis asleep !
Morning Shareholderchar ... what are you thinking of SP target in the medium term?
You do that Mr Jinx. At least when we get there, a grown up will have done the sums for you and you won’t have to make up the numbers like you have up till now.
You seem easily amused. ;-)
I’ll remind you of today when we get the year end financials. That’ll be such fun :D
Lol. Why, when I say 2 years, would I mean from end of this year Mr Jinx? That’s a very odd assumption for starters.
I’ve explained this to you before, but for you, and the other hard of learning on here I’ll go over it one more time.
We’ve been told umpteen times (as recently as a month ago) that cash burn is $2.5m per year (1st half of this year excluded while cost cutting measures were taken). At 30th June they had $5.8m in the bank, with 6 months left of this year, we MUST assume the BoD aren’t lying and we’ll burn through $1.25m, which, according to my abacus, means that come 1st January they will have $4.55m left? (Does your special calculator tell you differently?) are you with me so far?
$4.55m therefore equals 1 year and 10 months (roughly) which takes to October 2022 (2 years from now).
Which part of that don’t you understand? Lol. Which ever way you cut it it most certainly ISN’T “less than $4m at year end!!
Furthermore, cash in the bank is basically utterly irrelevant at this point, as it’s clearly not sufficient for Morocco or an additional venture (Those will require further forms of funding so will not come from this pot of cash), so it is ONLY there to pay the bills for the next 2 years, nothing else.
I really don’t get why you keep making such a big deal of this (and funnily enough to the downside, shock) and overestimating cash burn and underestimating cash in bank.
Any further questions, ask your teacher at lunch break.
You’re welcome.
Oh dear Whimax. You’ll spin anything, wontcha? How are my calculations wrong? Have they not burned $4m in six months? How can you sit there with full confidence that the $5.8m will last 30mths? I’m assuming of course that when you say two years, you mean from the 2020 year end? You can close your eyes and cover your ears all you like but that cash burn rate is alarming.
I see your maths hasn’t improved since your last “projection” Mr Jinx. You don’t half talk some rubbish (still).
Cash in the bank is enough to cover a further 2 years (at least) at current cash burn rates. Not sure why you continue to make an issue of this and continually overestimate cash burn.
Didn’t they check Larrys bag as he left the building??
Cash balance 30th June $5.8m. So they’ve burned $4m since 1st Jan. Even in my most pessimistic projections for year end I had them at between $5-5.5m. So then, projecting to year end 2020, Chariot will have less than $4m... sweet Mary and Joseph! A deal needs to be signed and quickly!!!