Firering Strategic Minerals: From explorer to producer. Watch the video here.
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That's why I think a bid at 3p is possible. Finance director recently bought a few at 2.2p (I think)
Agreed it’s a sitting duck and it’s now back to break even as of Q4
ErrHum....Yes
21-Jan-20 Buy Tim Parfitt 2.20 GBX 500,000 527,048
Yes and financial directors are generally very much in the know
" it’s now back to break even as of Q4"
Company actually reported that it has for the first time broken even at the operating level (last 4 months), but before overheads..
...so..what do you think all the overheads will do to the final bottom line?
The overheads become part of any new owner's problem... if the operating level is 'wiping its face' then a new owner might be able to nudge into profit sooner than later if they clear out competition?
They have halved their losses from the previous year have 9 million in cash and are receiving excellent reviews. Any competitor could take this out for 3p a share and get a major bargain.
Does this look like a 3.9 million quid business to you? https://www.evesleep.co.uk/mattresses
Someone is loading up here imo
With the imminent drop in GBP, all UK companies will look like bargains
It is certainly interesting in terms of where EVE wants to go next......They give the impression that right now they are merely looking to try and achieve some kind of profitabilty on the market share they have, but to do that they are going to have to cut those overheads further.
They know that the market that they are in is so competitive that any attempt on land grab for market share just results in a very costly price war and race to the bottom.
So, are they now going to use their cash to try and diversify the business more and not be so dependent on the over competitive mattresses ?
The cash burn is still there and the cash will deplete slowly month by month, so they do need to do more to gain more revenue in order to cover the overheads.
their next move will be interesting.
"Any competitor could take this out for 3p a share and get a major bargain."
BTFATH1
They wont sell for 3p if its a major bargain, obviously...but ...yeah..what is the likely move next in the sector ?..
It is either a sector consolidation or a race to the bottom to weed out the weak...
With regards that Simba merger last year ...the words of the BOD were
"The board of EVE has decided that now is not the right time to pursue the potential merger..."
The key bit that stuck was obviously "now is not the time "
So..is the EVE and SIMBA merger going to be back on the table now that they are getting to grips with the costing structures, and both have a lot of cash to play with?
My last drop of the dice here...added few more to average down to just over 2p.....will sit tight and wait for the recovery.....(hopefully ....) GLA.
So, was that the bottom?
(I REALLY need to spend less time checking the price of EVE.)