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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What ever about DD I'm not sure DoB would get clearance from the competition crowd for a full takeover. The other problem is that as long as he's there INM can't buy any media in Ireland even if they wanted to. I'm surprised DD is not trying to move thing on one way or another
The problem is between DoB and DD they have a controlling interest, without one of them selling out it is not really possible for another investor to take over. I believe it is not in DoB interest to have the share price rise, the lower the SP the better if he is thinking of a takeover (i.e. 3 month average of SP). It would cost him nothing to buy currently, with the cash on the books and his current shares. With no other party really able to launch a take over and no interest in returning some of the cash to shareholders through dividends/ acquisition. It is stale mate regarding the SP, it will continue to drift lower until DoB decides otherwise.
A cash pile on the tip of �100 mil. On a bad day, assets of �100mil. a capitalization of �153mil. What am I missing here? Is this not an obvious take over target, take private or just straight sell? If I had �50 mil I'd buy it myself. Crowd funding anyone?
DoB should do the decent thing and bid for INM and put its shareholders out of their misery. INM is clearly undervalued and their is no way out of this mire for INM unless he buy's or sells out.
So, nobody was at the AGM?
Still don't understand the UBS RNS. Overall holding seems slightly down (5.84% to 5.75%) if I read it right, but suspect it's not so simple. If you add 5.75% to 30% and 15%, you have a clear majority.
Still no sign of who bought shares in the last week? There was about 80m shares traded, which is just under 12% of shares available to trade (i.e. when you consider DoB 30%, DD 15% and employee's 5% are not being traded).
still picking up stock
Any other company valued at 130m, with 100m in cash, and with about 30m/ year profits would be a prime target to be taken private. DoB & DD as the times says could pay a 40% premium on current SP and it wouldn't cost them anything to buy with cash on books....but did note a buyout anywhere near these levels would be a total disgrace. So based on above why do you think INM is building its cash stockpile, not making acquisitions, not issuing dividends or performing stock buybacks. All the things that don't encourage share ownership and depress the SP?
Unfortunately, if indeed DOB/DD are thinking of a buyout at some stage, then it follows that a buoyant share price is not really in their interest. A buyout at say 150p is only feasible if the share price stays around 100-110p. Looking at it another way, whoever bought the bulk of the shares sold on Thursday/Friday must have paid a lot less than a buyout price. Cash is king, and it pays to be up early.
Interesting piece in (Irish) Sunday Times, says that at current share price, DOB and DD could take INM private for not much more than the cash on the balance sheet.
If revenue at INM (and RTE) is down 7-10%, it seems very likely the same is true at the Examiner Group and I. Times. But these latter do not have the same cash cushion. We could be approaching a meltdown.
Finally the pension dispute seems to be resolved, which should allow the capital restructure and resumption of dividend payments. The sooner the better as it can only be positive for shareholders. There were 62m shares traded on Thursday and Friday, will be interesting to see who was the purchaser. It is unbelievable INM was valued about 125m at one stage on Friday and is due to have 115m in cash at year end. Once these issues are tidied up and there is a bit more clarity on the profit warning, should be some good upside at current share price.
Somebody bought 1.3 million shares last night, helping to prop up the price. Now I wonder who might do that? A strategic thinker, for sure, with access to plenty of cash.
Why would anyone invest, when it is clearly not being run in the interest of all shareholders. INM is self-imploding from the in-fighting within, with no clear strategy/ direction at present. Its a pity as the company is valued at 150m, has 100m in cash and is still very profitable. Should have folk scrambling to invest, but doesn't seem to have any plan regarding; 1) Pension situation, 2) Acquisitions, 3) Dividend (not possible till pension situation fixed), 4) share but-back...etc
1. No dividend until revenue outlook is stable, if ever. 2. No acquisitions unless cash-neutral. Basket cases need not apply.
The annual outcomes would of course be worse if the rate of decline continues, reaching significantly more than 7% by year end. One can see circumstances where net cash generation (25m in 2016) might be close to zero.
Six month figures, total advertising down 7%, circulation also down 7%. On an annual basis, that would cut revenue by about 5 1/2 m (advertising) and 7m (circulation) - a total annual drop of circa 12.5m. That would reduce profit before tax from 41.8m last year to maybe somewhere under 30m. Not a disaster, but the trend is unsettling, with Brexit still to come. It must be much worse for the competition. No wonder the IT shuffled the deckchairs.
Group of Wexford papers went into liquidation today.
Cute operators here. They walked away from Celtic Media operation when asked to guarantee jobs; now can wait for the company to cut its own workforce, or perhaps go broke, or indeed both. Not INM's fault either way. #Cash is king. He who sups with the Devil should bring a long spoon.
Still don't understand what UBS is doing. Overall holding seems unchanged at 5.66%.
Small section in Times today...early May increased stake from 5->5.84% (18.5m shares), not sure seems to be a mix of Shares & CFD's ----extract from times It is interesting to note the ongoing share dealing around INM by UBS, which is the third largest shareholder with a stake of almost 6 per cent, which could be a material bloc in the context of the upcoming agm votes. On whose behalf is the Swiss bank holding stock? -----
Can any kind person explain to me exactly what is going on with UBS and its holdings in INM? Are they buying, or selling, or just shuffling the pack in some way?
Any thoughts on what are the best or likely acquisition options are for inm if the cash is to be used for that purpose.