Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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Well ofcourse I meant since Kelly took over.
And I guess an obvious questions is what keeps you invested Raven?,
About £230M's worth ... with remarably little to show for it!!
or to quote Stephen Kelly.."The reality is that, since its IPO in 2012, the Company has raised $270m but without delivering consistent sales momentum." April 2024 final results RNS
Meister, how many times have investors had to stump up money so far?
Agree that they need to stop burning so much cash. They will need to reduce headcount before they can fund raise.
@Sinitta - good point raised but I doubt very much that the directors will be putting any of their monies in. They are expecting the shares to go lower since they will need fund raising. I am not sure how many times investors will be asked to keep stumping up more money.
Well said. If there is no recovery next week after this rocky period in general and everyone gets over their jitters then certainly yes this would be viewed as a positive move!
Better to get back in after the fundraise, If they can raise the funds. Markets are shocking
Surely the directors need to put their hands in their pockets and support this company with share purchases. No longer in a closed period so should support the company with their on cash as shareholders are doing.
Plan was always to break even by end of 2024, that hasn’t changed. Growth = new logos on the board too.
Agree with @Handsoff. What growth is expected for the year 2024?
Based on the numbers in the first quarter it seems that they will miss the yearly numbers by a long way.
The other concern is the cash burn. Still too high and they will need to get more funding soon.
Dilution of the shares will happen so be warned as the stock will be going lower.
Pearls. I am not sure whether I totally agree with you about the Israeli situation as the world is on fire currently, so one new front is no real surprise, although newsworthy.
My concern is that there has been no good news for a while now. Yes, the CEO appears to be levelling the situation, but until a new income stream is identified and not from a cash call, the sp, unfortunately, will stay at these low levels.
Whatever else, sub 50p has got to be an excellent price to average down at.
Chumba, I think you'll find someone sold in anticipation of the Iran / Israel situation blowing up over the weekend.
We may open up tomorrow as this crisis would appear to now be over - unless either side decide to 'retaliate'. But Iran has said to the UN that the matter is now closed so I think we may get a bit of a relief rally tomorrow.
12-Apr-24 15:49:42 44.64 190,000 Sell* 44.20 45.95 84.82k
My very simple question. Why these large sells, of this is just one?
My personal thanks go to my colleagues and shareholders for their trust, diligence, and patience as we set the stage for growth in FY24. I am excited for the year that lies ahead."Hmmmmmmmmmmmmmm!!!!!
Just shows you how the deals are getting done out there and once you have some traction, they build on themselves.
It's all to play for here, we're right at the bottom currently.
Rome wasn’t built in a day. Plus it been a pretty dire year in the uk markets . A lot of people invest for the long haul DYOR
Will the people that were saying 70p would hit 120p that are now saying 50p will hit 70p and lauded Kelly as having the connections to deliver contracts/earnings so there would not be a need again to raise money and are now extending the timeline for this to happen, ever admit they were “over optimistic”
Happy to pay a CEO that amount who has a proven track record of turnaround + growth and is one of the most well-connected around. Kelly also has a great record of delivering shareholder value. Rome wasn’t built in a day… but I don’t think CEO salary is worth quibbling about when you look at how critical his role is in turning this around.
Why is Kelly's salary over £450k plus bonuses on top of this for a business with approx $10m in revenue? I don't think this is sustainable.
This business is draining cash fast, and far from taking "soft loans" - what would anyone lend against when there's no income to speak of? If they did the terms are going to be brutal. Any interest and repayments just kick the "breakeven" point further down the road.. Back of packet calculation, say £10-15m would be the minimum to secure the next 24 months .. That's a tough raise against a business with this track record of equity distruction.
@Pearls - completely agree. However now would also be a great time to announce a new enterprise deal via RNS… perhaps one that was confirmed as slipping from Q1 forecast…! Bring it on… ;-)
Starting to have buyers coming in back in I see. It clearly takes a while for analysts to put all the new data through their computer programmes. This is well oversold, I expect a bounce back to 70p+ level soon, within next few weeks.
It's clear from the update that now is the bottom, it is then the obvious [and rare] time to get in on such a tech company. You really don't often get such an opportunity with tech companies, I expect a range of investors to slowly pour in as this becomes more obvious.
Meistermeister, there's more than one way to deal with their issues. A rights issue is one, but it would be too dilutive at the current level.
What's far more likely to happen, in my view, is that a deal is struck with Richard Griffiths for a soft loan facility. No doubt it would be a win win situation for both parties - after all, it is worries over their longer term funding that is keeping a lid on the share price but this could be resolved with a fairly simple facility - especially as they have no other bank loans.
I would imagine the shares would soar on the news of such a facility.............
Makes you wonder what is being negotiated behind the scenes...........
@Pearls - I do like your confidence. Not knocking you - you have your opinion.
I do agree that the cost base needs to be trimmed - and I do think around the 75 people range. They do need to cut management levels as no org this size needs 3 CROs they have. They will need another raise of funds and I think this will come in next few months. Maybe in July - 1 year after the first raise.