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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Chris my friend sage spoke to Roger today and the problem has been a persistent seller, my friend has also sold half a million this week as well, hold firm , this is a solid company that makes money and with no debt, hopefully by this time next week we will all be smiling again, good luck,
I've contacted the company to request a statement issued due to the significant decline in share price which would warrant a statement to confirm no issues other than general market conditions they are aware of.
I had a response saying "under consideration"
I just had to read the Chairman’s statement again in the last set of accounts, confidence restored!
I also think they should make an an announcement. Well I started buying again at 1.26 and my last buy was at 1.01, got to be bold at this unexplained drop, but does get the heart rate up. My core pension holding has just been decimated, time will tell. Good luck all.
I think a 40% decline in the share price warrants a company communication tbh.
13% down and looking for a reason
Funded my SIPP and bought another 8,018 @ 108.5p
Either something's desperately wrong on site or this is a very cheap bargain price.
I can get a quote for 700 @ 117.9p (all the funds in my SIPP).
As Skopolitis said GFM is minting it - even at lower metal prices. I think the market will be surprised how much has been earned in Q2.
I cant buy stock this morning so don't know what's going on. Seems way oversold
Sorry to be a bore but I've been disproportionately thinking about the options. The 2020 EPS calculation uses 9,861,227 options for 2020 but 15,107,500 for 2019 which led me to hope that 5m options had lapsed as the number of shares in issue only went up by the 40,000 issued to Mark Hine.
This doesn't equate with the total options shown later as 22,167,499. Of these Roger Goodwin has 2m, Val Brynelsden 900k, Rupert Crowe's estate 900k and Mark Hine 250,000. That leaves 18.1m in management, staff and ex-staff's hands. Are these insiders? In China probably yes even if they've left the company.
I hope you are correct as I'm 55 in March 2023 and would love to have the shares to be 390p (total value of £1m). Why wait, though, if you are Richard Griffiths for the market to value the business when running at 1.5 tonnes + instead of today's undervalued level?
No but that also puts votes into insider hands. I just wonder what the exit route is for the BoD given their ages: new MBI supported by Griffiths, cash takeover by major. Hope it is something - perhaps in 2 years when they are running at 1.5 m tonnes and printing cash. Griffiths, who has put £60m into this business, must have something in mind.
Morning Skopolitis. Have you factored the 22m options into your calcs?
With gold and zinc firm and no known production outages lower smelter charges GFM is minting it. Broker has 180p price on the shares, which is lower than fair value on my models. So I can only assume the MMs are under orders to keep the reported price low to continue to flush out frustrated sellers, mopping the shares up in treasury.
I have not done the calculation, but if they buy all £10m they want into treasury it will be another 5%+ under management control. I believe this, together with management holdings, and the Griffith's stake will give control over more than 50% of voting shares. This is both a takeover protection, and gives control over a friendly merger or public to private deal. Must be some majors licking their lips over GFM as it is an undervalued, debt free and significant resource. Time to buy back the 25% of my holding I sold at c. 150p