Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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The spread tells its own story. Who in their right mind would make a purchase to have an instant 40% loss.
The San Luis rollout is helpful but not so major - overall subscriber numbers for Izzi over the last year have been a little bit poor, they shrank towards the end of last year and in Q1 this year. In Q2 they returned to growth, however it was only an additional 29000 household which was less than 3% growth on an annualized basis. Growth of the overall subscribers is not going to be the biggest driver of the Izzi contract, it will be the replacement of the already installed 8 million odd boxes on already installed subscribers and it is this rate that is key from any trading update - based on my rough calculations I believe that once this exceeds around 80k per month, then assuming ongoing professional services work at prior levels the business will move to be cashflow positive. The company has on numerous occasions said it expects to rollout across Izzi's base in 3-5 years, so even allowing for only 6 million (75%) of boxes being replaced that suggests a rate of 100-170k boxes per month to reach those targets. While there was a decent amount of cash in hand at half year - which is now way back in September - the balance sheet was weak and I don't believe the company had enough resources to continue being cashflow negative from September last year all the way through to now, almost 10 months later, so I'm hoping that at some point in the last few months the monthly number of boxes being rolled out has exceeded the number needed to become cashflow positive - however this is slightly complicated by professional services which can have large, lumpy invoices. The interview was very confident and was just before the close of last years accounts, which makes me believe prior guidance must still stand - you cannot do a video presentation confirming things you've previously told the market, many months later when you have additional knowledge that they may not be true. However, the lack of trading update is for me something of a warning indicator, although given they are in negotiations for new contracts, it could be that they are holding back to a point they can give a concrete update - which would effectively be a new contract signed.
No problems, I think Jose is a top guy I really do but I do there are far too many employees although that is the nature of the business I guess. Small cuts could get us to good profitability, I too was perplexed by HH but have since discovered it was a company cleansing process which they have done for shares in heavy loss across the board to make their books look a lot better. Some of their holdings are in several hundred percent profit so Mirada and other por performing shares had to go to make the investment portfolio appear healthier.
https://www.sharesmagazine.co.uk/video/jose-luis-vazquez-ceo-of-mirada-mira-2
I heard the same from Jose too regarding profitability this year - at the Novatel hotel / Shares Mag presentation on 7 March. Jose's flight from Madrid to Gatwick was shifted to Stanstead. So the poor guy arrived just a few minutes before he was due on stage. But he went on to deliver the most encouraging presentation ever. That's interesting about izzi in San Luis. I did not know that. Thanks for the heads up. It all just makes HH dumping their entire holding so mysterious.
San Luis I meant! Whoops
Don't forget izzi was rolled out in San Jose in June which a lot of people don't know ;-)
Indeed, the 50k at 1.375 was a sell though! The HH shares were not offered to the market because you can sell at 40% above the price HH offladed their second tranche at which is illogical, and you cannot buy volume at 1.75 now which is odd :/ I met Jose in March and he said they are very very close to profitability this year.... If they release accounts with profitability watch this spike!
Yep! MM's have clearly got no stock. Price earlier today was 1.25 / 1.5. Two tiny 50,000 buys go through and they hike the offer to 1.25 / 1.75. And who bought HH's 20% shareholding? And why no TR1 from whoever it was? As you say, something is definitely going on behind the scenes. We should find out very soon. Finals Results were announced last year on 18 July.
Considering HH divested a large portion to make their accounts look better for their clients, why is the liquidity so so damn tight!!!! Something is definately going on behind the scenes, I'm watching with interest
Horse share
dog - or rat - with fleas imv
and not that cheap on EV basis
Not looking good
I held shares here for a year or so before selling over 12 months ago. Is there any compelling reason to invest here now? No sign of any new customers, but I did respect Jose as a genuine person. But it needs revenue and I'm not convinced it is forthcoming.
Horse? Could very well be, HH seem to have cleared the shares as part of a book clearing process to make their portfolio look healthier
let's see..
But you cant buy in volume......? Illogical to say the least, it looks like someone is mopping up the shares in the background hmmmm
so perhaps HH will relent?
..not yet! ..just 10m+ to go (£100k+)
out??
is nearly upon us
Can anyone get quotes to buy?
360 more complete
Shame Jimi's not with us ..... he knew everything. https://www.youtube.com/watch?v=FMOqcRq-4Fk