Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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I think the best we can say of that is that it's broadly what was expected. No new news. Let's see what the market says at 8am.
Not enough new news to set the heather on fire. Massive fall in US etc late yesterday so I expect our SP to continue to fall today. Wish I had taken some profits earlier but too greedy as usual.
The Snam deal sounds the same as announced last October.
Go read up on Snam and you’ll realise that with this Southern European pipeline connection and all ITM’s German connections, ITM are in the prime seat!
Difficult to buy any shares at the moment. Ceres still falling today. I expect a rise then a big pull back later.
Just bought at 556p
No nasty surprises in the report - situation and peroxide unchanged. Should provide some relief in a jittery market
Oops! Perhaps the other way around. Glad I sold all mine last week as had a feeling the markets were going to see a big pull-back at some stage.
Must admit I'm tempted to top up and take advantage of the drop myself
People are looking at sales not prospects - which is what this company is all about - just bought another £4k.
Bought a few more at 512p. Don't know how low this will go though. Low 500 was always a possibility.
I thought that the report is due at 2pm today...or has all the info been released already?
I thought that the report is due at 2pm today...or has all the info been released already?
Geekster, the report always comes out at 7am. The conference call to present/discuss it is at 2pm.
Where I see a slight challenge for ITM is to do with adopting IFRS 15 which means they can't book revenue until the product/project is delivered. So they need a better way to inform investors that everything is going according to plan, for example how many MW are currently progressing through the new factory. The Snam deal is problematic in that regard because, although it's a big potential, it's not really due any results for a couple of years so we're not even going to see anything on that in the next couple of accounts either.
Agree Tonearm. It's the gut feeling of following and being invested for 6 years that will win the day for the long term investors.
I keep looking at Plug who I have been invested in for the same length of time and in my mind I think ITM are about two years behind them , but have the potential to overtake them in the coming years with partners such Shell, Linde and Snam in the bag, and potentially more over the years.
With Plug's current market cap ranging between £ 15 - 19 billion, I would say today marks a fill your boots time kind of moment because that is the sort of market cap we have to look forward to in the not too distant further .....2 - 5 year range, that will do me as an exit point to enjoy retirement.
revenue is not revenue untill the product is paid for by a customer and the money is in the bank .
I like ITM, but £200k revenue and loss of £10m does not a £3.3billion company make. There is so much growth already priced in that I am not sure what crystal ball the buyers at the moment are looking in to.
I like ITM, but £200k revenue and loss of £10m does not a £3.3billion company make. There is so much growth already priced in that I am not sure what crystal ball the buyers at the moment are looking in to.
Absolutely right, but in project work this can vary. I would see revenue only earned when invoices have been paid but during a project that might be over multiple periods. If we have to wait until the final invoice to trigger renevue acceptance we could end up with cash ahead of recognition which will appear odd. Still such times are still to come.