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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So results are in and very little to report. The recent debt for equity was only notable point when we ended up with 40% and while we wrote off £4m of debt to do so i suspect getting paid was not happening anytime soon. It might help. However nothing else mentioned about any new sizeable projects. For me the way they market themselves through their website tells you everything that they are not even trying. They rely on an opaque network that when it works it does well but when its down it does terribly. They have no other irons in the fire. They talk about over 40 patents but i do not see any new orders of merit in this first set of accounts. When they release final results it might change but it looks like another 6 month wait. Frankly its pathetic to have no interest in international sales given no english website and a website that looks it was built in 1999. They had potential but they do not even spend a few thousand sorting out probably their most important marketing asset. Year after year they squander sales opportunities but putting two fingers up to any other country outside the PRC. Why we can only speculate.
Its a bit like clockwork and you can almost set your watch by it. We wait 6 months with no news and then they issue a profit warning. Not entirely unexpected but looks they are writing off a lot of debts from suppliers, codeword for backhanders, but i move on. Board meeting is 28th. the other news was about our debt for equity deal that does appear to have been profitable so there might be a small glimmer of positivity, although our duo is joining the board so i do wonder what they are now up to. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0322/2024032201713.pdf
I just hope the cashflow is reasonable and this loss is more about tidying up the accounts and not about a lot of cash exiting the building. I remember years ago being concerned about impairments and i should have known where this was going once you understood how the duo operated with their mates and how deals were “organised”. We live and learn and we will need to hope the current year brings back a profit or we have some positive update in the outlook that takes the market cap above the current £7m.
Thanks kevs
I try them 👍
Hi
II interactive investors i have my shares in
Hi does anybody know a brokerage who deals with cnel shares I need to transfer them from the Halifax
Much appreciated
Thanks
I agree totally with Mr Simms a very clever assessment!
So turns out i was not exactly correct. this is a debt for equity. basically Zhongke Green owed us £5m and i guess CNEL understood they were not going to ever be paid. so they took a minority stake. obviously in current day £5m cash would be better than a stake in a loss making company. does not even appear they got a bargain either. what is most galling is they thought this could be done behind closed doors and never mention it to anyone. they got caught and needed to apologise. to me this is classic board approach to do as they please. we have no idea why we decided to write this debt off? seems very kind of us. if they instead talked about Zhongke Green in positive light we might have worked out it was a good deal but they have provided no information. the best spin on this is that we had no hope of getting paid from this company who might have gone bust so we hope this company wins some business and presumably CNEL will be supplier. we need to wait for final year results to see the numbers but we are almost at an alltime low so the market has rightly taken a dim view of the deal and the way CNEL handled this. I am slightly sick of waiting every 6 months for a sliver of information and have no idea what is currently going on as they simply provide no information. Great tech but terrible management. they could have been a global leader but instead squander the opportunity to line their own pockets with dubious deals behind closed doors.
I smell a rat the fat pigs at the helm are feathering there nest and the share holders are yet again shafted, just remember you enter this world with a bare ass and leave, with a bare ass.
I agree. I could not imagine investing today. If i understand correctly we have so much cash sloshing around we invested £5m for a 40% stake in another supplier. Last 3 years they kept on talking about preserving cash and no dividend or share purchase but they just invested more cash than the whole company is worth in a loss making company about which we know nothing. In fact i do not think anyone knew about in the company including RB. We just live in hope that the company turns around but even if they do if they never plan to do a buy back or dividend there is nothing for investors as its majority owned by the duo at the top.
What investor in their right mind would look at this company and think it is worth investing in given the behaviour of the board since it's switch to HKEX. They make zero contact with the shareholders, make no effort with PR, do the bare minimum to comply with HKEX regulations and release no worthwhile news on company progress. Nobody has seen any return from their investment and whilst the current board remain in place, the share price will continue to leak into pittance.
What the hell is going on with this share down 13%plus today this share is mind-boggling, any news is cloaked in secrets the shareholders are like mushrooms fed a load of s t and kept in the dark.
Why is there such a big price drop? any ideas? please
Why was there no big fanfare of this “major” deal or press to support the positive benefits. It looked loss making, albeit profitable in the past. Positive spin is CNE must be drowning in cash and this deal will immediately drive a rise in profitability. Its possible CNE borrowed the £5m and Green owed CNE a lot of money so has now paid out what it owed. The other option is the CEO is up to his tricks and we find Green were best buddies from school and large backhanders are involved. Surely RB was all over this deal as non exec? He is supposed to have full oversight of deals and the new risk manager would have been involved. shareprice has dropped but its almost 0 liquidity so price movements happen with no volume. Can RB comment to provide clarity to the merits of the deal and that this is not a deal with brown envelopes.
It looks very risky and suspicious.
Wouldn't put anything past this board, based on their history of Deceit.
This is link if anyone else has any clues
https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1126/2023112600015.pdf
I am still baffled why, when cash is precious, we somehow find £5m to buy a non controlling 40% stake in another supplier that did not make a profit last year. I am sure it will turnaround and there is some logic but at the same time my spider senses are thinking whether Green is not another mate of the board of CNE and hope someone is checking there are no backhanders going on here. Surely CNE has far better ways to invest £5m in its own company or tide it over for the next few years while it develops the pipeline. The company has not even whispered this news to anyone and from what it looks like were actually forced by the HKex to make the announcement as it does not look they followed protocols. Will CNE never learn but it has certainly shaken my approach to trusting what companies do and say as CNE are next level in deceit. my only hope is to recover my investment as while i can see so much potential the company seems at every opportunity to destroy that. where is all the PR Ivy said they were going to do and where is all the updates about news as this should surely be a major news item given we have just spent the same as our current market cap on another loss making company without even a whisper. i hope someone is watching the money flow.
Wait is over and basically CNE through our 100% owned subsidiary Zhongke Tianyuan has bought a 40.77% stake in a company called Zhongke Green for HK$57,898,000. That is £5m in sterling so quite a lot of change stating it will boost long term profits as presumably they were a supplier. Amazed we have so much money sloshing around as CNE is valued at about £5m so you would expect this deal to double our valuation but has barely flinched. How does company find that sort of money and not think it is better to buy back CNE shares? At least we know CNE is in great shape to pull this off but its all very odd if you ask me. Hopefully the start of being taken seriously by the HKex stock market as being an acquirer is generally positively received. The fact shares did not flinch continues to tell me the company is not making any effort to announce a major investment. No news on website but £5m invested for a large stake. Overall happy but underwhelmed by the share price that is 90% down on its HK IPO.
Cnel have announced a trading halt for “inside information” announcement. Generally this os good news and could be s major deal announcement that will move share price significantly. If it was bad news they have tended to always release asap and rather enjoyed seeing the share price slump. We wil see but company recently hired new person to head up a hydrogen unit and there have been several R and D pilot projects. I think liquidity wise all is good so my assumption really is that it is more likely positive news than negative but cnel are past masters at self destruction so i also have my doubts. Could this be a cheap offer to take private just before Cnel makes a major break through? Would that explain boards refusal to share any meaningful updates and the years of dubious behaviour. We will see but i hope cnel make a positive announcement.
Vastly improved communications would also help to raise the level of trust shareholders have in the BoD.
As you say patience will be required.
Topmoney did move to a facebook group sometime ago so i am sure you could find it. i do sometimes have a look but it is really a waiting game and hope the next results give us an indication we have turned the corner. We have to get the Ethanol firing again as that is the backbone of the company but they have so much R&D and a pilot project in Hydrogen so we are in the right places but just need to steady the ship and stem the losses. At some point China and the rest of the world will all move to E10 as standard but China seemed to roll that back during covid. Share is very steady for now so i am confident we will push on if CNEL announce any big deal in Ethanol and return to profit. i hope they do and do not wait until next interims as the 6 month gap is painful without any updates except garbled news on the website.
Thank you for all your posts, Simms 45.
Really it's the only info we get for CNEL
You have filled the gap left by Topmoney
Best regards,
Share price has been flat for 7 months now since the jump in February from .12 to .18 so i suspect a lot of people have been trickle selling into that moderate rise. While i dont expect any news for another 5 months if a deal with Sunbird can happen or something else it could really help change momentum but we seem to be deep in the doldrums and just so little volume. The company are hibernating and does not appear capable of providing any meaningful update to shareholders. i will give it 12 months to see if anything can happen as without news we have no volume and we simply the trade sideways around .16.
Congratulations Scenic.
At very least you will no longer have the stress and worry of being in CNEL
Best regards,
FYI I finally was able to sell my 500k shares. It took about 15 transactions over 2 weeks in differing quantities. Min 4000 shares and max varied depending on reasons only known to HK broker.
Im also in a similar situation. Holding over 108k shares. MM's tried to force me to sell up 2hrs before the move to HKex, offer of 2p when shares were at 16p in UK
Now in limbo, can't trade. Cant buy, cant sell.
Get no sense from broker( Ig'nor ent lot) Held in limbo since the move to Hkex.
Don't trust the Bod any longer.
They offer very little information as to the companies progress or future.
Not really sure where we go from here. Difficult to get any advice.