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Bearhunter...all that tells u is i bought 5k at 245, sold them at 320p made £3,750 then bought them back at 255p. That's all it tells u mate ha
One problem
Correct M0neyMan. He will probably make more purchases over the next few weeks.
We know this is Tobin's take over of BOOM by stealth. Admit it MT, you've been busted!
Very pleased to see RNS announcing Michael Tobin has bought 2500 shares at 260p. Very supportive.
If others don’t want it Tobin will
Take them
No surprise that Tobin is still buying now that shut out period is over.
No surprise
Looks like mostly buys today so very strange way for MM to set the market spread.
You should read back on his previous claims. He has been caught out many times. Apparently, he is long at £9 and decided to sell at 320 lmao. If he is the master trader he claims to be, he could trade liquid stocks in big caps, no small caps for a happy meal.
What?
Evidence of what?
Selling before news and buying back in post news hoping for a lower price is what many do. It's called trading and making money. It paid off for him. If he was doing anything illegal, immoral he would not be stating it here would he.
Zak7795 “I bought another 5k at 255pToday 09:40
But for full disclosure I sold 5k at 320p last week....that's trading”
Here is your evidence Zak and his cronies have been toying with the share price - shorting&Long to suit. Eventually the truth comes out, tell 1 lie and you need a 100 to cover it up!
788k traded last week, 370k traded today.
How many times can you possibly sell and buyback to make up that volume Zak hahah.
50k, 20k, 15k, 10k etc blocks flying in since last week. That is not pi money. That is a heavyweight loading up for a reason imo, not in for a silly trade like you.
Rifkin......its down -15% u see that right?
"370k traded today so far.. someone accumulating on open market ahead of a potential bid?" no wonder ur being accused of being a ramper Bearhunter. Ur getting a bit carried away with that statement mate.
After 14 months of perpetual FUD spreading, has Z7795 finally closed all shorts? His first ever positive comments without any caveats indicate he may now be hoping to induce FOMO.
Today's statement from Stuart Last states Audioboom are on track for record revenues this year. Nothing changed there. Some were hoping for an unrealistic blowout first quarter and are perhaps disappointed, but the recent stream of news indicates Audioboom are in a better position than they've ever been in.
The appointment of Molly Hogan Harvey and Shaun Wilson is very significant. They have come to Audioboom from two different companies with a joint market cap of $72 Billion. Boom's cap is $53 Million or $0.053 Billion. What could possibly attract these two market 'heavyweights' to Audioboom? Hmm!
All positions are required to be declared in the event of a bid. There will be no more hiding for anyone hiding short positions.
This is a bargain at these prices and if the rumoured bid does happen then it will be no less then £5 at least imo, DYOR though, good luck to all this is a gem of a stock with only over 16m shares in circulation.
370k traded today so far.. someone accumulating on open market ahead of a potential bid?
Lets forget about a mean EV/Sales ratio of 6.8x coz lets face it that was 5yrs ago and no podcast biz will be valued like that again (that was COVID). However, lets worst case it halve it. So 3.4x. $76mln sales base case so £60.8mln x 3.4 = £206mln. So I recon 488p worst worst case and i'm low balling that. These are 257.5p. These are a screaming buy
And it was 1260p back in May 2022
It will be its biggest volume day since 24th May 2022 when it did over 708k
Https://presentations.investormeetcompany.com/investor-meet-company/AUDIOBOOM-GROUP-PLC-Q1-2024-Trading-Update?bmid=92d05f99edf2 be interesting to hear what they have to say about that M&A comment
Beating market forecasts is the way to go.
@Audioboom
's management is acutely aware of this, following that remarkable share price run over 2 years that began in H2 2020.
Over the past 4-5 months, the Company has been trading at the steepest discount it ever has, relative to its own revenues. If it were tracking its own historic valuation, it should be at over 700p right now. In contrast, the Company is now arguably in its strongest ever position. Its topline is growing rapidly once more - outstripping the growth of the wider podcasting industry, in fact; and is likely to move into healthy profitability this year. Management is openly signposting that 2024 will be a record year.
Forecast upgrades will come, and will drive BOOM's share price much higher over the next 12 months, I believe.
N.B. I do have a significant holding and I will continue to add as and when I can, at sub 300p.
M&A interesting comment from the board for sure.. buyers must be circling with results out the way.
Good to finally see the board open to the idea of potential bids. Looking forward to the red dot flashing on LSE with a stonking bid from a suitor.
Myles done a great assessment on valuations - see below.
M&A in the podcasting space tends to be based on enterprise value/sales ratio (or price-to-sales ratio, which is the same except that it does not account for cash or debt on the balance sheet).
Transactions in the space over the past five years for which there is publicly available financial data include:
- iHeartMedia acquiring Triton Media for an enterprise value of $228m (an EV/Sales ratio of 5.0x)
- Amazon acquiring Wondery for an enterprise value of $300m (an EV/Sales ratio of 7.5x)
- Sirius XM acquiring Stitcher for an enterprise value of $325m (an EV/Sales ratio of 4.5x)
- Spotify acquiring Gimlet Media for an enterprise value of $230m (an EV/Sales ratio of 10.2x)
That's a mean EV/Sales ratio of 6.8x.
In the graph below, I have charted Audioboom's quarterly revenues over the past 5 years / 20 quarters from Q1 2019 to Q4 2023 (y-axis, left side) against the average weighted market capitalization for each quarter (y-axis, right side).
I have used a PSR over EV/Sales as BOOM did not have any significant debt in the period, nor did it ever have surplus cash (in fact, it relied on cash injections from equity raises until 2020). Accordingly, PSR in BOOM's case is an adequate proxy for EV/Sales, when comparing against the aforementioned M&A activity.
On average, across the 5-year period, BOOM has traded on a current year PSR of 1.85x (and a median PSR of 1.55x).
The combination of the share price collapse throughout last year (which bottomed in early November), coupled with the return to strong topline growth in Q4, means that the stock is now trading at a 62% discount to where it has traded over the past five years, on a PSR basis. Or to put it another way, just to be trading in line with where it has (relative to its revenues) over the pat five years, BOOM should currently be priced at 717p.
Now consider the known M&A valuations of the past five years. A mean EV/Sales ratio of 6.8x - versus BOOM's currently at 0.68x.
Based purely on previous M&A activity and using the peer group average, BOOM's "premium takeover" valuation would be 10x / 900% higher than it is: 2,500p.
The challenge is to understand why the share price collapsed over the past two years, and if the collapse was too extreme / unwarranted. My own view is that a temporary topline contraction in 2023 - caused by both the loss of a key podcast (Morbid) in 2022, and by a major downturn in the global advertising market between Q3 2022 and Q3 2023 - caused major uncertainty and yes, did drive an unwarranted sell off.
Continued on next post
The AIM market never gonna give them the credit they deserve, decent mgt. Its run very well unlike most of these AIM names. Best thing they can do is try and sell themselves. They won't get 1000p but they might get 700-800p and if so I'm be very happy.