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Seems the market aren't pleased with the consistent awarding of free shares to friends and family either. No mea culpas or RNS issues with a strategy to arrest the management induced decline. Nope, free shares all round is the order of the day.
No more buying of FDM for me, it's now basically an AIM share that will bounce up and down on the whim of the market makers. The overheads for their London and international offices and the energy bills to run them are only going higher. The lack of recruitment over the past 2 years means those that they have on the books will be out of contract without the same number of replacements meaning a big hit to future revenues.
If I presided over a collapse in the value of my company, I would suspend ALL 'senior' staff share awards and inform all and sundry that management failure will not be rewarded. Companies are quick to FAIL and then stop dividends to shareholders or drastically reduce them in a heartbeat. Maybe 'morals' and all the ESG piffle FDM and other companies promote doesn't actually stretch to doing the right thing. It's easy to write how 'ethical' and 'sustainable' you are, it's when it comes to proving it where the difficulties arise for these corporate vampires.
It'll bounce back up at some point (and then collapse again after the next results). The directors need to sell their free shares into spikes after all.
All the best if you stick in here, it's a great business model going stale on the sideboard due to mismanagement. Not really convinced they need a MASSIVE office in the most expensive commercial district of London on the bank of the Thames River, Slough Trading Estate anyone? Nice early bird discounted rent deals on offer.
A basket case ? Let's buy the dip.
Seems the dividend declared may only get paid subject to a cash buffer.
Also, still baffled as to how taking the share price from over £11.00 per share to £3.45 in less than 18 months warrants the 'award' of free matching shares and other incentives for the very same people who presided over the failure.
Nice work if you can get it.
Not any longer it isn't. Terrible results seeing as though they pretty much stopped recruiting new trainees for most of the end of 2022 and into 2023. Those still earning will soon be out of contract and free to leave for better paid roles now they have a couple of years experience in post (FDM take a large proportion of the salary allocated to the consultants they place for 2 years).
The basic EPS were up 17% for 2023 however the Directors and management continue to disgracefully award THEMSELVES generous free share packages for their 'performance', which must have an activation hurdle so low that a Dwarf with no legs could get over it with ease. After taking into account all the 'performance share awards' for management and staff, the EPS is actually down -12%.
The outlook for 2024 is there in black and white, group revenues are expected to be materially lower than initially estimated for 2024. Maybe they could ask one of their 'well trained' Business Analysts they send to other companies why the management who employ them can't get their OWN business to work?
Just a thought.
A raging buy at 3.50p, should it eventually get there.
Agreed - makes no sense. Great business model, steady payer and solid experienced management .
Amazing balance sheet. Nice dividend. Crazy reaction today
Sopheon effect today? It could be nice a 100% offer from today price
Big o trade today
Baillie Clifford have been selling out chunks of their holdings over the past week. We were at 52 week lows yesterday with a nigh on 50% reduction in value from this time last year.
The sudden spike in the price still has us valued way less than we are worth based on the fact we hold no debt and have spent the past 12 months or so cutting costs. We initiated a recruitment slowdown which resulted in less paid consultants sat idle and not earning fees for FDM.
I would like to 'hope' the spike is due to the large sells by Baillie Clifford ending, and with a bit of luck, the US firm who have recently increased their position may very well be buying more. The next set of results should hopefully be better as FDM have started diversifying away from financial services into other industries. Finance will always be the key earner but in my view, way too many of our eggs are in financial baskets, and that's a considerable business risk seeing as though consultants are the first on the chopping block when times get tough.
In my view, it's a great long term hold and add, the dividends are decent and could very well increase, and as soon as more consultants get picked up by other industries, the fees will start to increase again.
It's a very well run company on the whole, but with the poor performance over the past 12 months, 'Could do Better' will be scribbled at the bottom of their report card from me.
All the best
Thats a very good question.No RNS or info i can find!
Offer approach maybe?
Hi Nimrod , do you know why the shares got a boost today ,
Can anyone point me in direction of something good? like the look of this stock
to look at FDM yesterday to check, and mistakenly typed FDP (FD Technologies) which turns out to be another gem in the making. Up 9% today, 40% in the month.
Both shares looking good
Good recovery growth but way too much overpriced if compared to net profit flow.
There should be either much stronger growth or sp might go down badly.
FDM has fantastic forecastable income because of it's contractual terms with it's consultants. A 2 year "bond" was effective, if you leave at any time in a 24 month period you pay back substantial sums for the 12 week training you received at the start of your employment. The staff are paid slightly below market rate but didn't move because off this contractual bond. According to an internal message sent out by Rod and now leaked on the internet they have now removed this....
This will surely materially affect the security of their revenue. Their consultants will be headhunted for higher paid jobs. I am surprised this was not in the AGM or on an RNS
Good morning, slightly off topic but am hosting a webinar for companies that listed in UK in 2021. One of the three companies presenting is insig AI who provide AI analytics solutions to asset managers. To find out more about the event and register please go to
https://www.fmp-tv.co.uk/2021/11/18/2021-ipo-webinar-2nd-december-pyx-resources-artisanal-spirits-co-insig-ai/
Having been a systems consultant in the past I know that this business often requires long face to face communications. This is much harder if not impossible to do with Boris Johnson's silly and useless rules and thus FDM's business is going to suffer. This is a great shame because much of what they do improves productivity, not that the bumbler would understand that.
Surprised to see the down today on the back of what I considered a very positive RNS. Guess it was already priced in.... I give up trying to read the market! Not unhappy with SP though, long term hold for me.
Considerably happier now....
Did not know of any reason for the fall and don't know why the recovery but at least it provided a buying opportunity. GLA
Bit of a disaster past couple of days. Don't know of any specific reason. Up 1p today is no help......
I am trying to get a handle on why FDM has fallen so much in the past couple of months. Now trading below 700p
Can anyone shed some light? Sentiment or something fundamental?
In my view IQE's management does not consist of hard enough nosed business men, more like academics running the show.