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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Poor old jamsausageman is obsessed with aerial, talking of a dog with a bone lol
sausage says: “We are not in profit from where I'm standing!!!”
Personally I prefer to believe what has been written, without rearranging the words.
You either believe AM or you don’t. Some clearly think diggerman is a better source of information than the Edenville’s board of directors. Says much imho
JohnZ - yes, agreed - it's fairly straightforward stuff and just about how you carve up the cake but our income needs to cover all our costs to make a real profit.
More figures needed from AM.
GW - similar to what I wrote, but in more detail.
Only the villager Saus !
You say things as you see them as a LTH and I dont dispute with what you say, although I might not agree.
Twaat on the other hand, is just that and not a LTH just like big larry sumba and market timer, all gone now but their drivel is now exiting his orefus!
BE54
We all know "not that I would know what I'm talking about" was a rhetorical question, rather than a statement of fact. Lighten up, you are hammering everyone pretty much on every word they say.
JohnZ - simply put
What AM has done is half a master stroke, potentially (I'll come to that bit). We simply couldn't make the economies of scale thing work on our operations as a miner, so we've subbed it out to a partner. And they pay us commission.
So, that gives us a gross margin / commission on every tonne - that's our gross profit. And there's minimal risk to Edl as someone else is taking that risk.
We then have the simple task of paying for everything else that costs us as a PLC - salaries, BoD expenses, AIM fees etc etc.
The secret is making enough commission to cover all those administrative expenses...and then you get a nice net profit dropping out the other side.
But it's that commission that is critical now - how much are we getting per tonne, how much do we really need to sell etc to cover our admin costs - they are the quite large missing pieces of the jigsaw. And those are the figures AM was referring to in his podcast in terms of the need to demonstrate to the market and move our share price upwards.
Simple really!
Foxi of all the sh--- you spout, the only line I and others believe is
"not that I would know what I'm talking about" or is that another porky?
Saus/GW/etc - Is there anyway we could stick to the point without deviating?
I thought for once we were communicating amongst ourselves????
JMT
It's the old gross profit vs net profit thing again. I've been on about it for 2 years and simply get accused by some of deramping, not being a holder etc etc and all that ******. I do this for a living ffs.
Attaining a gross profit is unquestionable from the change in business model driven by AM, which is a great start - you can't not make a gross profit from subbing out your operations and taking a commission unless something is catastrophically wrong, but that is not the issue.
It's the net profit that makes us tick as a business.
This is one that aerial goes on about like a dog with a bone. When is profit actually profit? I have a feeling he uses a strict accounting definition, whereas the rest of us take revenue minus all the costs and the bit that is left over is the profit.
We are not in profit from where I'm standing!!!
I think the reference to profit was to per tonne of coal sold. A long way to go yet before as a company we are in profit.
Aerial - I don't want to burst the bubble but... I would not call it profit, as out of the payments the BOD have to be paid...
JMT
AERIAL, I couldn't agree more. It's quite obvious that there's a lot going on with ILTL that we are not privy to YET.
esquimo
A great deal of ground covered in the last couple of years, and not forgetting the negotiated and implemented company changing ILTL deal. The company is in a stronger position than ever before, ‘and in profit’. The rise will come, and probably when least expected.
Can't see another RNS until the end of October then in to the rainy season, and I guess it will all be blamed on Covid shut down that output can't be increase
Yes no more or than expected, I'm assuming that the interims being within 4 weeks that they would be the vehicle to provide updates on production contracts etc. A lot can happen in in 4 weeks, no excitement at the moment.
Considering the RNS is for the period pre December 2019 I think it is pretty good. Nothing in there unexpected. I would hope a mining update/letter to shareholders will follow.
Esquimo - a healthy profit - but that's gross profit ie revenue vs cost of sales. And we've been having teasers for many years....
Don't get me wrong it's nothing more than expected really in the annual report and potentially most of it is already in our share price.
But it's not going to get us moving on with our MCap, yet.
Yes, Interims by end of October, but there's not going to be much in those either that we don't already know about - we didn't do a lot in Q1 and Q2 really.
It's a tangible Operational Update that will get us going, possibly. It's a question of when we get that. GLA
GW, agreed a bit short on figures, one comment stating a healthy profit, and a teaser stating supplying smaller power plants. Interims inside 4 weeks?
JohnZ - potentially but its all talk from the BoD - they have signed an agreement with ILTL. Nowhere do we have the facts to back up how much commission we make and therefore how much tonnage we actually need to sell to cover our non operational administrative costs. We're all guessing.
AM said figures will move this on - there's nothing yet, except aspirational numbers. That's not going to be good enough for the market.
And I'm unsure if the interim are going to give us the answers but there's another month yet to update on post period highlights.
And to cap it all we have the rainy season just around the corner. That's not in the company's control at all.
GW - is that not what the BE of 6KT/M, and the 10KT/M is about?
Jax - yes, not that I've mentioned anything to that effect on here before over the last two years.....gross margin is shocking, but changes with the IlTl handover changes that business model. That's the point of subbing it all out.
But, the big number to consider is our administrative expenses and whether the commission from our coal sales going forward is enough to cover our costs there. That is where our net profit figure comes from.
And those are the figures AM was talking about in the podcast, not that I would know what I'm talking about.
RNS - the partner will purchase a minimum of 3,000 tonnes of washed coal per month
I make a 4 month payment of approx US$210K (3K tons/Month * 4 months (sept - Dec) * US$ 17.5 per ton)
So US$210K * 3 gives Approx US$630K per year
Operational updates to follow...
Am I seeing those figures right.
Revenue vs cost of sales. They’re selling £1 for 20p.