Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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State of Crypto today 2023 A16z report
https://api.a16zcrypto.com/wp-content/uploads/2023/04/State-of-Crypto.pdf
I think it is important to stress that the Pendulum project is in the very early stages of the whole web evolution. We have experienced web 1 & 2 we are now on the brink of web 3. It is my view that in terms of progressive development we are are roughly are at about 1996, when the internet as we knew it then was about to explode. Web 3 will (in my view) change everything, its just a matter of (as individuals) whether we have the foresight and conviction to take advantage of the next phase and what is about to happen. Maybe Pendulum will be part of that, maybe not, but projects providing real world solutions are (in my view) the future, and Pendulum fits the bill. But patience is required - these developments are not easy to implement.
Happy to be corrected :
400,000 registerd users @A$730 average revenue per user = A$292m
50/50 JV with Dynasty = A$146m
Blu owns 13% = A$18.98m = £10.12m
Current Blu MCap = £10m
Plus : North America
South East Asia
India
Satoshipay
If this is right,we will soon have a massive re-rate on our hands.This is hilariously undervalued.
The only one under pressure here seems to be you @Blu. As Crawshaw says,maybe you should sell up . You are on here several times a day now bemoaning your investment..sure cash in and put it in GST..which has no succinct valuation either atm. Personally,am more than happy to hold as wuth each new Dynasty contract the value of our investments just keeps on rising.
a valuation can be achieved each and every year, in fact, its good practice to do so.
TF can sell a part of the holding should he wish to facilitate a valuation of the whole of the holding, for both Satoshipay and Dynasty.
nearly 16 months now since we hit 0.595 on 16 - jan 2022, and that was on speculation that we would hear something from Dynasty... nothing since.
i'm sure we will get a valuation this year, its overdue and i'm sure TF wants a way out too, he is under pressure here.
A new valuation even at this stage would hopefully be much higher than previously accounted for by BLU.
Once general market sentiment picks up particularly regarding crypto / blockchain and all things de-fi.
I do appreciate getting a valuation this year may not give Tony the luxury of waiting for the above, but valuations are generally higher during boom cycles.
He did say it may just be an exercise to probe the market.
.
@johno
what do you perceive as "best market conditions" ?
I think you should sell your holding blubutton.
100%
I think Tony will be pushing as hard as he can. He's also commited to obtaining a valuation for Satoshipay this year so value should be attributed at some point. I am sure he 'll be waiting for the best market conditions in which to conduct any Satoshipay 'sale' process.
We all understand what you are saying Blu but you sure bang that drum bang bang bang
nothing substantive, nothing happens !!
GST , RNS ....... price up 7x
BLU , RNS ...... same price as 7 years ago.
why? because the market never gets anything that has clear numbers.
could be, would be , should be = market uncertainty
What we do know now is Dynasty is valued at substantially more than the Blu book value.
...and that is based on ONE contract...
BLU currently values its 13.7% interest in Dynasty at £6 million. BLU`s current market cap is £10 million. I put my conservative valuation of Dynasty on here in January at £100 million so £13.7 million for BLU. We could see an approach for Dynasty before market conditions for an IPO improve (why don`t Dynasty consider NASDAQ over ASX) in say 18 months time. At current rate of growth Dynasty could be worth £500 million, or £68.5 m to BLU in 18 months time.
PEN is more pen & ink at the mo. Be good for Pendulum to gain traction once more.
Nice to get an update although Dynasty should also be providing more of an overall progress report to Blu at this stage so that it can be rns'ed.
“ LPL is Australia's largest esports tournament organiser and one of the world's largest gaming related content creators. Esports has shown continued growth in Australia with video game revenue set to reach approximately A$6.5 billon in 2023 and forecast to exceed A$9 billion by 2027, according to data from Statista. Average revenue per user is also high in Australia with average revenue per user around A$730, compared with a global average of approximately A$211.
The new LPL platform launched in April and with more than 400,000 registered users, is Australia's largest esports and gaming platform. The number of users is expected to increase significantly during 2023 in line with the growing number of brands and partnerships signing with the new JV.
Blue Star holds a 13 per cent. stake in Dynasty.
Tony Fabrizi, Executive Chairman of Blue Star Capital said that: "The JV partnership with LPL is expected to be a significant step with Dynasty transitioning from service provider to media owner. We expect this change in focus will be repeated in future contracts. Dynasty's development of its highly sought after esports and gaming platform puts it in an excellent position to partner with existing media owners to exploit this growing market."
Dynasty is going to be enormous and Blu's investment in it is hugely undervalued right now..simple.
@slug
"I’ve crunched the numbers and this alone speculatively could be worth £10m to BLU, or in laymen’s terms, adding another 100% to the current market cap"
my apologies, you mean JUST the LPL deal
Yes calcs are wrong
In a rush this morning
@slug
that's not the value of Dynasty though, that is what we are interested in.
Shame that the news article has more info in it than our RNS
Nonetheless at least there are some numbers in there compared to previous Dynasty related RNS we’ve had
400k user base, average revenue per user of 730AUD
I’ve crunched the numbers and this alone speculatively could be worth £10m to BLU, or in laymen’s terms, adding another 100% to the current market cap
I don't know about anybody else but a 50/50 JV with such massive potential revenue sounds pretty meaty to me.
An IPO is mentioned in the article:
“The bulk of Dynasty’s technology platform stems from the work of co-founder and chief technology officer Crispin Tristram, who developed South-East Asia’s most popular gaming and esports platform, Dunia Games, before launching Dynasty.
Dunia grew to support 22 million monthly active users and booked annual revenue of more than $US500 million.
Since launching three years ago, Dynasty has been testing the waters of an Australian IPO, but Mr Baxby said the timing was still up in the air.
“The IPO market is still somewhat closed, so we’ve raised incremental capital to fund the business growth,” he said.
“We’ll have to wait and see what the market does and where we gain the most traction.”