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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Not saying that, absolutely not. The point is that there’s been board changes and CEO placement. No more turmoil to be expected in these positions. We and potential partners can trust on Markku and other board members to be trustworthy board directors and the newly chosen Juho as a new CEO. You don’t have to be unsure if your speaking partners in partnering negotiations were going to change
CEO change was expected to happen anyway someday as well as board changes. Now we have a freshened mix of directors that can carry on with all that experience the company has as a legacy.
All my best wishes to them to carry on.
Anyway interesting to see if they make any additional hiring or continue as lean as they are now.
I agree Lukebench....who to trust in long run? Not Markuu , is that what you're saying?
And they have a nomination committee now in place maybe not only because of egs. The committees naturally monitors board and C-level positions.
Even if you have obvious good candidates inside, you still need to search and check the availability of even better fitting candidates from outside the company. I think the CEO appointment here is based on the egs principles. In general the sad fact is that more than a half of the new CEO’s fail within 18 months. A poor outcome in financial or strategic achievement. But the explaining reason behind often is the managers personality with at least two or three harmful or more characteristics that are expressed especially under pressure or situations where one feels free from control etc.. That affects the team and their ability to jointly perform because the manager defects the purpose of the team without understanding it itself. So that’s it in general and I don’t know anyone at Faron in person.
And don’t blame these people because they are on average different kinds of normal people with higher ambitions and talent. It’s the decision makers.
Thank you Markku and congratulations Juho! It’s been a pleasure to follow your presentations and hopefully we’ll get the next news and presentations soon!
I think there’s been board changes, hiccup and now CEO placement and this is a sort of a good signal for potential partnerships they know who are the speaking partners for them from now on - whom to trust in a long run. Table is clean.
Just a little bit more data and partnering or an M&A. Placing Juha confirms the chosen way?
Not from what Faron tells us but from your own opinion. That SHs can definitely expect from Faron that will advance the SP to where It was before the last disaster to the very least £2.50. IMO
Well they couldn’t appoint the CFO. Would be good if they had a risk committee.
I suspect the market has lost all trust with Markuu. What with the SSV comment and then the hiccup.
So no surprise he's gone , maybe even pushed from the spotlight to save any more embarrassment.
Tbh I'm gutted with this news. Only positive is the market does not seem bothered.
Well he's got about 3.3 million shares , so when SSV lands , he'll be in the money .
So the baton is passed to Juho .
Farewell to Markku . Shame he has left under a bit of a shadow - but in the long run I expect people will look back and forget the hiccup . To be honest , hiccup or not , its logical for him to move on , and let the new blood get to take on the task in hand . Dr Juho is a good character , and a great communicator too .
SP aside , I thank him for his efforts and hope he enjoys his retirement .
.
That whole " hiccup " episode does stink. I find it hard to believe an experienced CEO such as Marku ( plus other people in the management team ) who has been involved in commercial Biopharma for a long time , took their eye off the ball and allowed it to happen.
The hiccup happened because £2.60 was no longer on for the inside investors , so they agreed on £1.50.
So as not to shock the market too much , the "hiccup" had been arranged.
I'm surprised Sax didn't spell it out , it's plain to see.
West, for me anyway The averaging down never seems to work. On the AIM You need to trade. I don't trade. It's the only chance you have to make a profit. How low will the SP reach and how many Investors will be about after all the placings to satisfy the further £20 ML plus needed. IMO.
What about the existing shareholders that have been averaging down since £8? When do you have enough stock , run out of money or lose faith?
Is it possible the recent investors said you need more cash via a placing , ok but at £1.50 , don't come asking for £2.60 , we've just done that deal not long ago.
Next deal 80p?
Just saying , it's all a possibility.
Hi Drac,with the fundraise at this low SP,investers can fill their boots at a knock down price compared to 2 months ago,existing SH will lower their average.And new investors have a great opportunity to take a position in Faron.
It's, Timo Is heavily Invested It's the only logical thing for him to do. Wouldn't you do the same If you were In his situation. The puzzling bit IS WHY didn't he do It when need was greatest?. When the SP was between £3.00 and £2.60. NO explanation why the Hiccup happened and SP halved. Would you not think so?. IMO.
I was led to believe having read this board on a regular basis , that all the data so far has been positive. I wonder why they are thirty bob? How much positive news is required to move the sp?
Could you ever imagine Timo not buying more in the placing? That would be akin to turkeys voting for Christmas.
He's locked in. I'm sure he can afford to lose the lot also , not nice , but if he styartys selling he's onto a loser full stop , especially at the prices he has paid in the past.
Cancer cures are being announced on a regular basis , Bex may not be as exclusive as it seems.
Fair enough. I didn't think it was a buy at the time. Even after finance , a lot of trust has been lost here I suspect.
GL.
Cov
Yes I thought it would rebound quickly but the financing has been drawn out, 3 separate raisings is damaging even if ultimately it’s the save amount. Would have preferred an EGM before the first bridging finance and hit this done. Now it’s wait and see, I’ll prob top up after financing and only before if it drops 10%+ from here
The day Timo starts selling is the day I go too .
Fair play to the guy - he's in for the long haul . I don't see him selling any until its mission accomplished here , be that a takeover , or major rerate to a far different level . His stake is too big anyway to dispose of without crushing the SP .
The coming placing will set them up for the rest of the year I guess . But thats not saying a deal won't be done 'before' that . Bexmab data will be accruing on a monthly basis .
The placing has been announced for weeks now . So its not going to be a surprise to anyone . SP will be in a holding position now . You could now sell and hope to get in lower . That might work , but for the sake of 10-15p , you might as well just hold on . Who is going to want to sell sub placing price - when all the newsflow coming from now onwards should be positive ?
Well Timo still believes in the Faron story, I expect as a successful businessman he had some words for Marko and his CFO.
But still he added more.
Plus 3 board members chipping in as well ams
And if the EIC thought faron was a dead duck they wouldn't of paid in either.
Interesting they cut their monthly bill back... I member them taking on staff for marketing bex.. maybe they were too premature for that.
They may well have to get a whale on board, a big pharma may get a cheaper buy in.
Still believe we have setting good here that has the potential for a very good pay day.. I actually bought more at 1.50
My only reservation is that this is a Finnish company. I recall when Nokia were the king of phones but failed to carry their success to the next generation..
When discussing what went wrong one of the top Nokia guys said we should have been I. The board room instead we were too busy having Saunas LOL
@ 10:56...you stated this would be £2 by end of March. You also told anyone who would read your post not so long back this was easy money @ £1.47.
Soon changed your tune eh.
Not sure I'd top up now with £23m still required. What sort of discount will be required? You'd hope not that much considering the trial success but its a big risk. I'm sure this will be back over £3 at some point.
Sax the jam was supposed to be about 2 years ago If memory serves me correctly. Do you not remember the SSV quotation from Markku. Being Led up the garden path comes to mind. IMO