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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Does anyone know why DSCV has jumped today?
Looks as if the drop was because Numis has downgraded to 'hold' from 'add'. Reckon I will top up if this drops more as the growth drivers for the company still look positive.
Another good RNS for Interim Results showing growth in revenue, profit and interim divi. The SP hasn't responded that well today but am hoping this is a slow burner that will grow slowly and under the covers. Wish I had topped up when it was below £7 in October.
And another good one today. Very solid. “Further strong organic sales growth and record orderbook”.
Given the state of the markets I especially like the last two paragraphs:
“ Following the acquisition of CDT in June 2022 and performance related earnout payments during the Period for Cursor and CPI along with some targeted increases in working capital to support growth in the second half of the year, gearing4 at 30 September 2022 was 0.8x. This is well below the Group's target gearing range of 1.5x to 2.0x, leaving good headroom for further acquisitions.
With a clear strategy focused on long-term, high quality, structural and sustainable growth across Europe, North America and Asia, a diversified customer base, a record order book and a strong pipeline of acquisition opportunities, the Group is well positioned to make further good progress on its key priorities.”
Just topped up. Pity I missed the bottom, but this update underlines for me that this is a good level to buy at. SP is over 40% off the year high.
"The strong organic sales growth reported last financial year continued in the first quarter this year1 with underlying earnings of the Group for the Period ahead of the Board's expectations.
Group sales in the Period were 27% ahead of last year at CER2, increasing by 17% organically3 with a similar organic growth profile in both divisions to that reported last financial year.
Orders were stronger than expected and continued to be ahead of sales with a book to bill ratio of 1.09. The order book at 30 June 2022 increased to a new record level of £240m (31 March 2022: £224m), being 40% higher than a year ago organically. As the year progresses, we expect the order book level to begin to normalise as it converts into sales.
Gross margins in the Period continued to be resilient and the semiconductor sourcing issues flagged last year, impacting two of our 21 businesses, have improved although remain tight."
Also very glad to see how they are treating their employees in Sri Lanca's dark times: "One of the Group's 31 production facilities is located in Sri Lanka where, despite the current unrest, our operations remain at expected output levels. We are supporting local employees with cost of living subsidies, food and transportation. Contingency plans are being developed to temporarily move production to other Group facilities if the situation demands it. The site's output accounts for around 6% of Group sales."
Massive.
Share price still falling despite good trading update
Statement is here and it doesn’t disappoint.
Well undervalued now. Trading statement due Wednesday morning so hopefully recovery imminent.
Record order book yet again. Targets up. Share price should recover its recent losses today and over the next few weeks.
Now down below placing price.
Well the trading statement is here now and I am delighted with it.
The DSCV website shows trading statement due today but there isn’t one. Just have to wait now.
See what tomorrow brings then. Still confident about the trading statement.
Fallen 15% from its recent high on nothing but Algo trades, a good trading statement is due on Friday and it’s only a couple of weeks since they said trading was very strong and they have a record order book.
Tempted to keep talking to myself every day here until it goes up.