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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When are we going to see an update as they off-load chrome division will the shares be going up or will an other offer come in before
I think it’s on Tuesday. There are details for an online presentation on their website.
Thought it was today
Yup. The Board did say it's worth some £2 a share. If they can't make it happened then let's have someone else do it!
from Minerals Technologies Inc. 18 months ago was 130p cash.
14 months ago Innospec were offering 160p 50% cash/shares.
160-175p cash offer might be enough with the current declining sp and recession fears.
Must be some inflationary costs, raw material etc hitting ELM bottom line.
I live in hope another bid will be forthcoming, how far will the sp have to fall before someone shows their hand.
dreadful whats happened here
Sub £1 looking possible, the directors should hang their collective heads in shame at the value destruction under their watch,...that rebuffed bid £1.60 looking great value now!
the directors should all be sacked, terrible performance.
After the not to recent takeover failures the further the sp falls especially sub £1,.. would like to think bidders lurking gonna take a pot shot, £1.85 - £2
Still no update on the possible sale off the Chromium unit but if they manage to off load this lower margin business and pay down debt or reinvest in the more profitable parts things could start to look up share price wise and also slim down business may attract another possible bid.
This stock just moves in a very narrow range all year, but gently falling over time. Management fogged-off potential buyers promising better return but nothing materialised. Time to shake the tree.
get free shares for destroying the share price
Most UK stocks don't. even get close to the brokers recommended values where as US market responds more favorably
Had to add to my holdings today at these prices. Opportunities for some capital growth.
Yes starting to look positive
Leverage down to 2.6 times sp should recover - we shall see - figers crossed.
I think the CEO said the shares are worth or there was a plan to get them to over £2? Hangin’
reducing this should get a lift but the ceo statement is cautious.
In the half year report they did note the elevated financial leverage (3x) and this being the reason why they didn't consider a dividend. Might be some lingering anxiety until the board confirms the impact of the rapid deterioration in some of the end markets. For now I'm sitting on the sidelines and watching closely
appreciate the view and detailed post, many thanks.
To be fair you have provided a very good summation and
it needs the update to add more colour and clarity.
What's very clear is semiconductor shortages and other supply
issues are rippling out and impacting more businesses - I hold
Melrose and they updated on order cancellations due to chip
shortages on Tuesday.
Or it could be something less company specific. My industrials watchlist which includes companies like Vesuvius, Renishaw, Synthomer, all showing declines well in excess of 10% so looks to b a lot of general worries around industrial output
Hi fatprofits
This company has been on my watchlist for a long time and the recent decline has pushed it up the list but its a pretty complicated diverse business so its taking me a while to sift through it. Aside from the general economic nervousness auto exposure seems pretty high but difficult to work out precisely, both the talc and chromium business have significant exposure ( I think talc 25%). The SP seems to have been marching upwards but perhaps now those concerns are creeping in. There has been a lot of news about how supply chain issues and raw material inputs increasing costs as well.
From June 2021 the debt covenant drops from 3.75x to 3.25x. The EBITDA consensus for 2021 is $157m (basically double H1), while debt is expected at $389m. This is about 2.5x. Its not an entirely unreasonable prospect that sales are lower due, costs and working capital higher due to the issues above. If EBITDA were to drop by $20m ($80/$57m H1/H2 split) (and net debt increase by 20) or EBITDA margin fell by 3% this would push it to 3x.
A combination of all factors, say a 1.5% drop in margins and a 7% reduction in sales would combine to get pretty close to that 3 number and the potential for a discounted capital raising taking place. Perhaps this is what is causing the slide.... Or am I way off the mark?
there is arguably very significant operational gearing here?.
Well, we can guess. The delay to Biden's cash give away in the US might make people worry about their Coatings business, and the Evergrande issue might be doing the same for their China/Asia growth strategy/investment. You would expect the Marine Coatings business to be in good shape. The Deo business should be bouncing back as people re-emerge into more social contact. All guesses of course (I have no inside knowledge).
I have worked with the Management Team in the past and rate them highly, that's why I'm invested here.
For no good reason, time to buy more.