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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If they were so dissatisfied it sounds like they had enough collective holding to vote down the proposal. 79% votes for so it is the 21% only that may reduce but they have had significant number of weeks and much higher exit prices than now if this is the reason.
Best we can hope for is a distressed seller or 2 causing an irrational sp for an opportune purchase. Or at least that is my hope.
Going through the recent Form 3s I can see that almost 80% is held by funds including the 14% held by the UK and Irish government vehicles.
In addition to Baillie Gifford a number of other funds have been reducing since the dilution including Borders Pension and Schroders. Interestingly, Lionrock increased their position prior to the dilution news and since then have cut by nearly 1%.
Some of the reductions may be result of fund withdrawals by their clients but definitely sense some dissatisfaction on their part given the recent goings on.
These funds still have significant holdings so this is of some concern if they need to continue reducing.
I would hate to see what this share would do on bad news
Asartara, Graphcore is trying to compete against NVDA (I have held shares in NVDA for 12 years though sold 90 of them last year) and AMD. It managed to spin off some of its AI technology to Meta (Facebook). I am not familiar with its remaining products so as far as I am concerned it is a bit of a lame duck with no obvious product in development. Could be doing it an injustice, but its value as far as i am concerned, is nil.
The revenue for the most part was in the machine learning element which as been sold. The remaining staff on the Azure platform is likely to be superceded by the investment that MSFT (again have shares there) in ChatGPT
Hope this clarifies things.
Another disappointing day for shareholders
The company is deeply indebted. A debt funded share buyback would not be prudent.
Anyway, they need to get exits from their current positions, not increase exposure to them.
They have also stated several occasions they aren't going to do that.
Steph
What is your target price here and why do you think the shares are so weak?
And can the management not do buybacks here to get the price moving up?
I think you said that you had remortgaged your house to buy more here so it sounded a bit worrying
Baillie Gifford look like the seller.
One or more of the fund managers didn't like the recent acquisition and subsequent dilution of NAV
Alas Smith
You said :
“There has been comment on Graphcore and if it has anything to do with graphene, then it is correct to write it off as a distraction and without any meaningful revenue”
What do you mean by this statement exactly? It is not very clear
What is the connection between Graphcore and graphene?
And why is any connection between the two of these things negative?
And why would any connection between Graphcore and graphene mean that Graphcore as a company is worthless?
The statement is not very clear and does not really make any sense
And no doubt cash best held back as will surely drop back further
Well clearly someone is selling out. And as usual there are no buyers.
Probably a great time to top up but I lack funds. Can only groan and wait.
Nope.
Markets can be irrational. Interest rates are held for the time being in US and UK.
There has been comment on Graphcore and if it has anything to do with graphene, then it is correct to write it off as a distraction and without any meaningful revenue.
Investing in early stage ventures is ALWAYS exciting. It is not for widows and orphans but DEFINITELY for trhe long term investor prepared to wait patiently. The advantage of investing in an Investment Trust is that dealings in the shares remains liquid even if the underlying holdings are not. What is being valued currently is the illiquidity of the underlying investments in todays semi-joined up environment
Does anyone know the reason for the 8% share price fall today?
The NAV is £7.35 and even that is at a 35% discount according to the last annual report
So the actual NAV is about £11.30 and the share is at £2.38
So the discount is now almost 80% !
What is actually going on here? These shares were over £11 not so long ago
And can the management not do anything to increase the share price such as very large buybacks?
Quite agree.
My hope during QE was for the BOE to transfer the bonds to endow the UK’s research universities and fund long term infrastructure (yes including sea defenses and a new downstream thames barrier) creating a permanent competitive advantage but without much impact on short term inflation.
Upgrading the grid for the green economy and fixing the private water companies underinvestment. Initially after privatization the water companies had high CAPEX but they were allowed to let it run down so it was not a issue if public or private but what the regulator required.
UP to 2016 UK led EU on inward investment. We were doing pretty well out of EU single market membership as many global companies preferred their EU beachhead to be in an English speaking member. Also London for all it’s faults beats Frankfurt for quality of life for expats. Better schools and expat services. We screwed that up. Surprised at the resilience of Business and Financial service sector but we could have done so much better. We were beating New York on a number of key KPI’s . Now falling behind New York -albeit slowly. .
Sadly, steph, the first real opportunity to create a Sovereign Fund was when oil began flowing from the N Sea. That was 50 years ago. The next would have been at either Golden or Diamond anniversary of the late Queen.
Although it might seem that the UK has missed all the growth, I think not. Placing say half the proceeds from IHT (and although the executors of my late parents estate paid almost £1m as IHT) I am in favour of keeping it (but mitigating as much as I can) into such a fund would have fantastic consequence in 20 or 40 years time.
Even if growth were at a pedestrian 5%, the effect of compounding with contributions from IHT added annually for say just 5 years, capital growth would be tremendous and begin to tackle the most pressing concerns. I suggest education should be the first, followed by sea defence
Successive governments have promised to cut red tape for as long as I can remember but they have all failed to deliver. While an incoming administration might surprise us all by doing what it promises, history makes this improbable as they all seem to get bogged down in the minutiae that affects a small number of cases while missing the needs of the vast majority.
Labour vows to cut financial ‘red tape’ and ‘unashamedly champion’ UK sector
In an attempt to revive the UK’s flagging stock market, Labour said it would launch a campaign to encourage consumers to buy up the shares of British companies and encourage pension schemes to push more cash into small private companies, venture capital and infrastructure investments.
Https://www.beauhurst.com/blog/ai-startup-companies/
Where is the UK government? All talk and no investment.
Https://www.pitchbook.com/news/articles/vertical-ai-vc
maybe soon
I see the same and saw the opposite when IQGeo shot up last week but Google Finance was way lower at the end of the day. I asked a wise AD V F N poster and they said...
"Happens often with Google Finance. Instead of reporting the closing UT or the mid price if there isn't a UT, it seems to use the last trade to be reported, and often one that comes through after hours.
Always have to be wary of the closing prices that Google publishes."
Is your Google Finance showing the same or am I losing it?
I wish! 😀
Does anyone have access? The headline seems negative https://www.thephoenix.ie/article/action-required-at-molten-ventures/
Is Google finance glitching out? It is showing GROW at £3.56 at close.
Https://simplywall.st/stocks/gb/diversified-financials/lse-grow/molten-ventures-shares/valuation
We have dropped average broker forecasts quite bit. Time will tell. Seems to me bold to say the least to give a 12 month forecast so far below NAV/share. Assumes current NAV not real or we are in for a couple of years of modest NAV decreases in spite of sales growth averaging over 50% in portfolio.
I'm loosing faith on a quick rebound to circa NAV/share (730) but don't believe these 2 doomsters either that we will be stuck around 330 in 12 months time.