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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I still hold all my shares. looks leaky.
up. premium being paid.
nearly at my.....target buy in......still to sooon to pull the trigger......maybe ;
yup just a total disaster and I'm well under again.
initial RTO price of 14p - well done management, another AIM failure
these guys have done zeropr
Yup, I agree it’s a finely balanced judgment. Selling 40% at a loss and keeping the rest shows how split I am!
Im happy to just sit tight here, yes it has dropped a bit from the RTO but it is a profitable business. I want to give it time to see if the plan that the BOD have comes off. I would rather sit tight than take a loss at the moment. GLA
What is going on here..
hopefully some big news from somewhere
I was half in at 20p and half at 8.7p, so 14.35p on average. Just sold 40% of it at 7p. Can't complain, in old money I was in at 3p and mostly 1p and out at 1.3p so did ok overall.
Will keep an eye on this one but I think it'll tread water this year. They should have raised more cash as a shell, the old loan notes always did look ropey, a point I made when the old board was trying to raise funds at the equivalent of 20p and getting accused of dilution. I'll stop shouting "I told you so" into the void at some point lol.
still think 20p possible this year.
yeah total mess. I'm in at 14p and 20p.
'Following the Admission of the Company to AIM on the 28 February 2019, trading has been in line with management expectations.' Management were aware the share price would drop 50% from 14p to less than 7p?
Meh, can't be masses of economies of scale - Mash made £100k on £400k of revenue. If ALL costs could be eliminated it's only £300k of costs.
I'm torn - having opened with a small position I paid 20p for I've piled in at 8-10p partly because I've long been a fan of the Daily Mash. But leaving them all in the bottom drawer with a high chance of months of underperformance doesn't feel wise, maybe a better strategy is to cut the losses and invest most of it elsewhere.
I agree insufficient cash was raised and current SP is aggravating this.
However Journalists are cheap and two a penny.
Good Software Developers are scarce and expensive.
Daily Mash integrated with their existing business should generate
economies of scale.
That said I think it will be a slow climb back to IPO SP with a strong
possibility of Dilution en route.
I've put these in the bottom draw and concentrating on other investments.
Yes I agree with the consensus here. I think the problem is that they didn't raise enough cash. The old Polemos loan notes seem to have been sold for next to nothing (which may well be their true value), and the placing on admission only covered the cash element of the Daily Mash purchase and most (not even all!) of the expenses. So I suspect they have absolutely nothing in the tank for acquisitions. The businesses acquired made around £600k a year between them, but there's the plc running costs to come off that. So the current share price is probably 10x profits. That feels fairly full price unless the management team can drive profit growth strongly. Maybe they can - Daily Mash felt like a labour of love more than a commercial exercise. (The app is awful, fine when it came out years ago but not sure it's ever been updated and bits keep breaking.) With no results due until much later in the year (next results are the interims to 30 June 2019 and I guess will include a load of listing costs etc so will be fairly opaque). So if it's ages for decent trading news, there's no cash for acquisitions, and the share price has halved making paper acquisitions highly dilutive, they're suddenly not in a great place.
Hopefully some of my assumptions are wrong here - if so maybe they need to spend a bit of cash on financial PR to help us all understand the potential and get the price up, so they can do acquisitions or a fundraise in a less dilutive way than would be the case at present.
what is going on with Dbox, everyday SP going down - very disappoint TBH, i was planning to see 20p per S this year...
Yup it’s quite disappointing
this is like being urinated on. . . slowly
wirth buying......at 5 million
its going to take serious news to push this back up
The Placing Price has been determined by the Company and may not relate to the Company’s net asset value, net worth or any established criteria or value. There can be no guarantee that the New Ordinary Shares will be able to achieve higher valuations or, if they do so, that such higher valuations can be maintained.
Wats the company value here ..... it’s tanked so worth a pop now.....?
No idea why you think this means the directors are the only ones who will make money knicol. £300k is roughly the combined drawings of the directors of the three businesses prior to the RTO. So whilst there isn't a cost saving, this level of payment is already in the historic numbers. Looks like it should make north of £500k a year after director fees and can grow. Glad I sold most of mine at the equivalent of 26p but at the current price they seem pretty reasonable. I've added recently. Not my largest or most exciting holding but I think it'll do reasonably well for shareholders from here.