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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Top post Am90.. thanks !
(I'll not even try to answer your q re what has happened here in past few weeks.. as it could be one or some combination of a fair few things.)
I think some people with decent sized holdings were selling out so that they could buy back in the placing.
This obviously dragged the share price down. Today we saw some panic selling and margin calls but I actually think it may turn out better to put funding and the Canadian listing on hold. There is a good chance sentiment on AIM will improve in the coming weeks, as it is at rock bottom now, especially in the gold sector
What a dire situation.
Yes the markets are not great, but there are plenty out there raising, especially in Canada. There certainly has not been a negative change in markets since the 9th November placing announcement? POG was literally at an all time high in this period. Its not as if we were being overly optimistic with the terms ... it was 6.5p!
The asset BAM, there is nothing in there that remotely indicates that it is a shocker, in fact the opposite. While Claude clearly has well and truly screwed this up, he has been working, running, designing active mines for decades, he clearly does know his technical stuff. No way he touches this if he has any doubt about the asset. Moreover, numbers do not lie, the PEA was good ($314 million Canadian). Yes inflation will have eaten away at that since the announcement, but nothing points to this being borderline. The location is good in that Ontario is mining friendly and there is good transport.
Then there is the bizarre situation of Glenn buying in the open market at 8p a few weeks back. Why would he do this is there was ANY doubt that something like this would happen.
What on earth has happened here in the past few weeks!? There must be something
Why is our website so crap
I rem back 21 we so high are we making any money or am I wrong
Why is Lnd not getting the funds at a time when Gold is at all time high?
there must be something else dragged this down.....
could it be the management that investors not keen to have,
what's the criteria for investment to happen here?
seems crazy situation,
Who has LND'a upset?
I haven’t been here a long time are we actually mining anything? Are we still not there yet?
The Mgt tried to show they were in control of the company direction and strategy. They asked the capital markets to confirm this, they found out they are in control of jack sh*t
I guess the market likes to see mgt having a plan and being able to execute that plan.
Time to do a 70% earn in with committed capex program and cash component to fund the company.
We aint building no fecking mine do you get that Claude?
Someone else is going to build it and Landore can have a stake in it.
Every time I think it just can't get any worse here, it does..
And I've thought that again and again and again and again and again and again and again and again and again and again and again and again here over the years.
Such a sad state of affairs Lnd.l has been/is..
Any raise the might get away in q1- or further into 2024 - would be at a much - much - lower price than one that's jus now been announced as failed..
I just try and find a way of laughing this one - and others too - off.. while living and learning....
Generally, I still don't think they'll end up having to fire sell the asset in q1.. if they had to, what they'd get I have no idea.. the cost buying it our of a company in administration situation soon after would be what any potential buyer might be comparing against.
PS: The take away I'd most like from my AIM journey is people to stop using the word 'Investment' for AIM stocks and instead use the word 'bet' only.
Aye I think so, reading up on it.
MMS dropping to to collect as many as possible, the usual tricks!
A few solid buys and away we go
Surely now they just have to go ahead and execute Bill's original plan and get it sold. 1.5moz @ even $10/oz in the ground is triple the current mcap
Bought some this morning.
LND has enough cash to wait it out and the assets are worth many multiples of the share price
What do we think BAM is worth in a fire sale? Surely someone would take a punt at a low price which would be more than current market cap?
Shares in Issue 122.01m
Market Capitalisation £4.73m
Its not bust, its in the same predicament that a lot of companies are in. Funding is tight....
If previous management had done their job, this wouldn't be an issue. BAM would be open pit, much lower cost to extract than building a mine. Good resource, just needs sorting out.
MMs made a bit of a feast of this
Accordingly, the Company has decided to terminate the Offering and defer its fund raising efforts until, inter alia, there is a sustained improvement in market conditions. Consequently, the Board of Directors has postponed the proposed dual listing on the Exchange until further notice.
The Company has already initiated a plan to reduce certain costs and preserve its cash resources as appropriate. The Company will revisit financing opportunities during Q1 2024 and is also exploring alternative funding options to enable it to, inter alia, proceed with a drilling campaign on its flagship BAM Gold Project at the Junior Lake property in Northwestern Ontario at the earliest opportunity. The Company will provide further updates in due course as appropriate.
what do you reckon at these prices?
**** or bust?
Sorry where is the RNS?
Sale at 3.6p now.....if this keeps going I might be buying....blood/streets thing....lol
I obviously got that mixed up....lol...but we were at 7.6p last month (before the placement news which plummeted us to 6p).
so one month on ....now that we've reverted back...and cancelled the placement....we should revert to 7p...not 4.5p....lol!
GLA
0 seems most likely possiblity now bankrupty
And I thought it was a charity fund investing into us.....they were hardly borrowing the money.....so don't make a huge amount of sense to me....but bottom drawer is better than 4p IMO!
Wakey wakey Claude, well done. Look what you have done.