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All well put.
Hi Rugs. Glad to see I am not the only idiot here (only kidding). No, I have never communicated with Lincoln or the board. I am sure they are well aware of how we feel. They are making money, we are losing money. Simples.
First of all nothing anyone says here will affect the share price.
What these comments do do is affect other share holders. Some contributors have suggested that it “could only go up” since it dropped to 3p - guess what we’re at 1.2p now. So the cautious camp has saved potential retail investors a lot of money as it happens.
Secondly if you look through old presentations you’ll find that there are quite a few other issues that have been promised and haven’t happened:
- 24,000 hectares of land planted in Guitry and second CPO Mill built (as promised in 2016)
- RSPO member - certification (as promised in 2019)
- Processing 30,000tpa of RCNs (as promised in 2019)
- Third commodity as well as clean energy (I think first mentioned in 2020)
Blue. Your post at 0910. I had to check that you had actually written it as it could so easily have been me......
jk. Did you in fact approach Lincoln ?
Rgds
What an ignorant post. So if posters especially myself were not negative on here are you suggesting the SP would be higher? People are negative as they reflect the performance of the share and the company here. Posters could stick their fingers in their ears and wish away their losses but personly speaking I prefer to be upfront to potential investors. If I had been similarly warned I might have avoided what has been a serial loser of an investment. I would not invest another red cent in here regardless if it 10 bagged. Which it won't. But I am happy to highlight the multiple red flags here.
I’m one of the more positive here but it’s not as simple as that… before a single nut was picked there wasn’t a sizeable debt so risk remained low - we’re now at a much riskier point where further funding will be extremely hard to come by so fail to generate the cash to fund the cashew operation to profitability and to meet all debt repayments/ maturity and the business’ future is in doubt - make it through successfully and that broker target ends up in sight.
Still, I think the risk is more than worth it so have built a meaningful stake with a low average, obviously those that have suffered the most from years of operational failures and missteps are going to be a hell of a lot more oissed off than I am right now.
Still, I accept that I could lose my money and that’s a fact of AIM investing generally.
WOW You couldn't make it up. The shares worth less less than when the company had NOT yet produced a single palm oil kernel or cashew nut.
"Seems a few here talking their own book trying to obtain a better price."
If only that were true.
Why would holders sitting on losses of 90% be looking to buy more at "a better price"?
More likely we are calling out mistakes/problems as we see them, in the hope that they are not repeated.
The reason for the SP fall is because the market keeps seeing those same mistakes being repeated. A few "stale bulls" on LSE forums are not going to make any difference to the SP otherwise Fundraiser222/Stacegibbs pumping posts would have had this at 600p by now.
One immediate step that could be taken to (begin to) restore confidence would be an RNS correcting the incorrect 60k vs 70k tonnes figure for the CPO mill. The market knows that's wrong and we know why it is wrong, so correct it.
Risk versus reward has nearly always "looked compelling" That's why us "stalwarts" have been averaging down for 10 years (although I have not bought or sold in the last 3 yrs), and presumably why new "investors" are still being sucked in here. Look at the long term SP graph: what do you see? I have lost money here exponentially, whether over 10 years, 5 years, 3 years, 1 yr, 1 month or one week. Why would I talk my own book? I have mentally pretty much written off my £46K investment here, as it is currently 83.5% down as I type. Rather than talking our own book, long term investors here have consistently being sending out messages to potential investors to take care. Never, have I suggested anyone should buy here. Yes, we are disillusioned and frustrated. You would be if you had been invested for 10 years. I have shares in numerous companies worldwide, I am very well diversified (even though this is cumulatively my biggest single holding). Apart from a few companies that have gone bust, THIS IS MY WORST PERFORMING investment ever. Yes, the risk / reward does look compelling, as always - because as always we are just on the cusp of flip/flopping to "jam today". Still, I do hope newcomers will see some big returns (and I mitigate my current book losses)!
Seems a few here talking their own book trying to obtain a better price.
Regarding PO price if they are buying FFB bunches cheaper for the local market as stated then profitablity will be maintained, you cannot have it both ways. During the past year local prices were sometimes above international but peeps forget that (intentionally in their posts).
In my view, if the cashews are sorted in H1 or progression is seen then could be one hell of a ride.
It's your own money and your choice but at present risk versus reward looks compelling.
That sales price yesterday was a blow, especially after having tracked the international price so closely of late (pushing on for 4000MYR) - a more thorough explanation would have eased some uncertainty but alas, we wait for Feb.
It should be pointed out that 739e 740e 741e would be an " improvement"on 737e so fulfilling the RNS. Looks like the Directors are in over their heads and are desperate to keep the plates spinning rather than beginning a course of remedial actions to a situation if not of their making ( it mostly is) but 100% under their stewardship.
10 years ago, almost to the day, this peaked at 17p.
An RNS from the time said this: "The Mill is on course to become fully operational and generate first revenues in February 2014, at which point it will become one of West Africa's largest with a capacity to produce 70,000 tonnes per annum."
Today, a new low of 1.2p
Wow.
In terms of selling cheap CPO, we do have the much vaunted storage tanks, why are we not using them?
Apologies for all the typos !
Blue. Interesting and thought provoking post. What do we really know about the country and our invetment.
They are good at football .The majority as muslims. Are our selling prices low because we are straining to compete with Palmci/Sifca/Sania who have far more financial muscle than Dekel can ever have. Are we paying our producers lower prices to reflect local sales as has been suggested so effectively maintaining our 'profit' . Is the board focussing too much on Firering and Lithium. What is the true story about the failure of the machinery for the cashews and what action are we taking against the Italian supplier.
Idle speculation but have the directors set up another company or companies "locally" to buy all the ouput at knock down prices, and then sell on into the international market? Obviously I am joking!
On the other hand WHO are the local customers, and why are we selling to them at these prices?
Why can't we sell into the international market and get top dollar? Are shipping costs too high, is the infrastructure not in place? Are we stupid?
Is this another example of a failed business plan - how to get product to market?
Or have we pi££ed off our wonderful local suppliers (who we never hear anything about these days, (just like nurseries and sustainability and green credentials et etc), and wholesale buyers. Are we pariahs and lepers, nobody likes us? Or are we being cheated?
These are just a few examples of how the loss of 85%+ of one's investment can cause one to engage in ever more ludicrous (is it?) speculation. Finally, once we finally start producing some meaningful quantities of cashew nuts, will we be giving them away cheaply as well,as if we are a charity?
Maybe we should become a charity, then the directors can be trustees instead, pay themselves more, sell cheaply and pay no tax!
Apart from the directors themselves, have we any major shareholders who can demand answers and action?
I am not sure I can wait another 10 years (death waits for no man), and who is to say I will see any benefit by then?
More questions (loads) than answers (none). All these qustions are, of course, purely rhetorical. I feel better already,
Best of luck to all sailng on the good (ghost) ship Dekel, all you guys and gals.
Jk I wouldn't expect a change in broker target due to one month of lower pricing but would if it continues, it's definitely a shame considering the strong international prices.
We have to remember that there are thousands of small cap companies that are at historic lows and therefore there is competition for investment... those on the sidelines may view DKL as undervalued but if there's no obvious catalyst they aren't going to feel rushed to buy in.
Today's update wasn't that catalyst.
Morning fk1, WH Ireland had assumed €850/tonne for the full year, so today's news of €737/tonne - although there are signs of "improvement" - would suggest the (only last month) updated price target of 8p may be at risk.
Zak Mir on Share Talk:
"It is a shame that the market is clearly not engaged in a positive way regarding what DKL is clearly achieving operationally. It remains to be seen whether the prospect / reality high season will lift the bulls out of their slumber."
https://www.share-talk.com/rns-hotlist-with-zak-mir-eisb-arv-wpho-sed-eme-tm1-dkl-kefi-ujo-csfs-neo/
So here we are folks. Like a drunk at a funeral wondering where our next fix is coming from rather than addressing what is lying in front of us. A laissez faire board where in any self respecting company a head would roll this morning. A company who is happy to have Lincoln peddle any lies he can get away with while sitting on a dwindling SP. A company who have a board and posters here in denial despite the evidence before their eyes. A company for the few rather than the many investors who have put money in here on a promise completely detached from its delivery. A company who puts tolerance of failure above seeking remedies and rewarding those who keep the faith. A tone deaf BOD who won't care when the music stops.
My apologies! Though to be fair I have pointed out there is no floor here nor any accountability for failure. Today's near 8% fall is attributable to investors piling for the exit despite Lincolns attempt to put lipstick 💄 on a pig. You can't buck the market but for the Board it is just business as usual. Oh well. Onto the next disaster!
HarChris - 'expecting uptick in february'
Which February?
Sadly FK1, you spoke too soon.....Another 10% down. Not sure whether to laugh or cry...
I am slightly relieved it hasnt fallen though it could as holders digest the news. The Board have driven the SP so low thar it should take calamity to drive it down further. Realistically their stewardship is so disastrous that even starting from a low base they are not showing the wherewithal to drive the SP up. They seem to lurch from one bad month to another. Nothing in today's update shows that they have got a grip on the situation.
One trade of £46 lol back to stalemate.