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 possible options do we have, we simply have to wait and see how much the shares pay out, I would doubt there is a guaranteed pay out of 8.8p ,should be itro I know but MMX has never failed to disappoint. Think the price paid for the business is disappointing, pinning my hopes that there is a high tech company wanting to get on the AIM and they see us as a vehicle, might be 2p in it for us, who knows?
Still here as well :)
Bobat - just in case you thought you were all alone.....! Turcan buying - even at small volumes - is a good sign nonetheless and shows Lombard see value at these levels and probably more importantly are as certain as they can be that the deal will complete. We've got about 8 weeks to do the deal under the current timetable - hopefully the conditions are being dealt with - Chinese approval is perhaps the only issue which will be taking time to secure consents. SB
Henry Turcan has bought over 1.1 million shares over the past few weeks. Showing lots of confidence.
Tr1 out. Director buy again. 250000 buy. Mms short on stock.
Minds + Machines Group Ltd - London-based top-level domain registry - Non-Executive Director Henry Turcan buys 670,000 shares via Lombard Odier Asset Management (Europe) Ltd at GBP0.07, worth GBP48,240, on Thursday.
Price has not moved for weeks. Mms in need of shares to fill an order. 2wice director buys. Will be interesting to see how this develops in the next few weeks.
Tr1 out. Director buy again. 670000 buy.
Agree we should start seeing some uplift in the coming days weeks. Can see more buys coming in. Patience is the virtue.
In some ways i'm surprised there hasn't been more II purchases - there is a reasonable chance there will be a small uplift as the deal completes closer to the value of cash within the business at that time. SB
250000 buy.
(Sharecast News) - Internet domain name registry company Minds + Machines reported revenue of $16.83m (£11.84m) in its final results on Tuesday.
Earnings per share came in at 33 US cents, up from 31 cents a year earlier.
Cash generated from operating activities increased to $6.4m, from $0.48m in 2019, while cash balances at year-end totalled $8.9m, an increase of $2.3m over the end of 2019, even after buying back 43 million shares during the year at a cost of $2.8m.
"Our results for 2020 continue to demonstrate the quality of our portfolio and the cash generative nature of the company," said chief executive officer Tony Farrow.
"The fourth quarter was a transitional period for the company as, in addition to immediate actions such as reducing staffing and terminating non-accretive supplier contracts, we considered structural and operational changes that we believe sustainably improve the business going forward."
Farrow said revenues for the first quarter of 2021 were 4% lower than the same time in 2020.
"While it is early in the AdultBlock Sunrise B renewal period, we are encouraged by registrar interest and some early sales of this product," he said.
"We are also seeing an increase in cash generation despite the decrease in revenues as the staffing changes and other cost reduction initiatives put in place at the end of 2020 resulted in EBITDA of $1.6m for the quarter, a 98% increase over the $0.8m generated in the first quarter of 2020.
"We continue to work closely with GoDaddy Registry to complete the conditions precedent to the completion of the sale transaction whilst continuing to drive the business forward to maximise near term cash flows."
Morning Sunday and Hucks and Kitkat. In some ways the accounts weren't all bad - part of me was expecting further write downs - but I think the Godaddy deal would have gone south pronto if there was a rerun of the ICM write off fiasco. Its a disappointing end to what was a simple and easy to run business which had good potential to generate decent shareholder returns - i like to think that's why we invested...!! A missed opportunity. Lets see what comes next - its not the return we all sought - but maybe mmx2 can help soothe the pain. I don't expect SJL will be able to post if he is indeed in touch with the business - at least we should half a full half year of earnings to add to our cash position and maybe a bit more. ATB all. SB
7th August 2021 - Possible RTO??
Before reviewing 2020, perhaps the most important matter is the proposed Asset Sale to GoDaddy Registry.
On 7 April 2021, the Company announced that it had conditionally agreed to sell the majority of its assets and business to Registry Services, LLC ("GoDaddy Registry"), an affiliate of GoDaddy Inc., for US$120m in cash. The sale was approved by the Company's shareholders at a General Meeting of Shareholders held on 23 April 2021.
Completion of the sale is conditional upon the satisfaction of the following conditions:
· Approval for the transfer of the TLDs to GoDaddy Registry by the Internet Corporation for Assigned Names and Numbers ("ICANN");
· Approval of Chinese authorities for the change of control of MMX China (including change of control in respect of relevant licenses held by MMX China permitting it to distribute gTLDs in China);
· Approval, as well as the waiver of certain rights of first refusal, by commercial partners for the transfer of certain gTLDs; and
· No material adverse change in the ownership and/or performance of the business in the period prior to completion.
SJL lack of noise here is because he could be, that isn't for sure but why there is a possibility he wont talk on this bb. I wouldn't read it as 100% for certain as much as we all hope that is the case.
looks as though also they paid TH and MS money as well when they left
Ezza has taken the RNS at face value, easy to do i know....most annual reports have a degree of positive spin, flattering to deceive so to speak, sad to say I think the company would have slowly sank with diminishing revenues which would affect a later sale price, this has all been a bit of a disaster really, I am glad most will get out relatively clean, I will take a bit of a hit at 9.8p unless MMX 2 have a bit of upside, lets get this deal done Huckster
Good morning Silv.I largely agree with your analysis of the 2020 accounts,however they stand as a reflection of the incompetence and smoke and mirror deceptions of TH and MS....In my view Godaddy have taken this low point to put in a fire sale offer ( good business on their part )that has been accepted by IIs that have had enough of the jam tomorrow promises.
The sooner it is done and dusted the better ,as you say. But ,how much would it have taken to bring revenues to the $20m and over mark....My feeling is that it was achievable with the right team and will...
I believe that SjLs.absence from this BB reflects his involvement in future plans ,plans that should provide some comfort for investors..atb.
Mmmm.....I take your points onboard SB.....unfortunately for me the shock of achieving a not so whopping 8.8p p/s after the capital and length of time being invested here has still not subsided...and now we head into the unknown (what are we exactly going to do now with the cash held back) with whoever is to be the next great leader.....and no one is sure that SJL will be onboard....and he is, for me, the only one that gives me some degree of confidence going forward.
Cheers
Ezzza
Not sure I agree on the positive response to these results Ezza. Our revenue declined, again. And continues to do so into 2021. Our core revenue is $14.5m - partner payments at $2.2m remain high reflecting the deals made to purchase certain domains - the main protagonist is likely law which is now noted as declining in revenue yet we are still paying high payments - another london anyone? We have 2m DUM's - but 1.5m are work and vip - which are very low renewal and likely low cost - and that is after promotions to shift some volume and even bulk sales reneged on paying hence the previous write offs. Of the remaining 500K core DUMs', 50K are london (which we have lost as an RSP so that will fall away in July - good riddance - although no mention in accounts). So what does that leave us with? 100K adult generating $7m?; 350K generating say $6m? and $1m from vip/work? Cost reductions are good - but mask the underlying growth problem. Yes we are cash generating - but after 14 years in business that's probably not that great an achievement? There are some issues in the accounts on impairing the carrying values of investments in subsidiary company's which raises further questions on accounting treatments - and for all this TH and MS received a $135K bonus in 2020.
On this basis - i think the GoDaddy deal is a reasonable offer for the company's assets - and on review benchmarks well against the recent uni auction sale based on our numbers. The sooner we complete the better imo. SB
All positive then...cash balance up, results demonstrate the quality of our portfolio, cost reductions via operational changes and we are seeing an increase in cash generation...brilliant...I know..why don't we flog the business for (apparently) 8.8p per share..what a great idea NOT!!. Madness just isn't the word.
Cheers from a very p""""d off Ezzza
Cash generated from operating activities increased to $6.4m from $481k in 2019. Cash balances at the end of 2020 were $8.9m, an increase of $2.3m from $6.6m at the end of 2019, even after buying back 43 million of our shares in the year at a cost of $2.8m.
Commenting on Current Trading and Outlook, Tony Farrow said:
"Our results for 2020 continue to demonstrate the quality of our portfolio and the cash generative nature of the Company. Q4 was a transitional period for the Company as in addition to immediate actions such as reducing staffing and terminating non-accretive supplier contracts, we considered structural and operational changes that we believe sustainably improve the business going forward.
"Revenues for the first quarter of 2021 are 4% below those for Q1 2020. While it is early in the AdultBlock Sunrise B renewal period, we are encouraged by Registrar interest and some early sales of this product. We are also seeing an increase in cash generation despite the decrease in revenues as the staffing changes and other cost reduction initiatives put in place at the end of 2020 resulted in EBITDA of $1.6m for the quarter, a 98% increase over the $801k generated in Q1 2020.
"We continue to work closely with GoDaddy Registry to complete the conditions precedent to the completion of the sale transaction whilst continuing to drive the business forward to maximise near term cash flows."
*- ends -
About MMX
Minds + Machines Group Limited (LSE: MMX) is the owner of a world class portfolio of 32 ICANN approved top-level domains (gTLDs). The Company generates revenues through the registration and annual renewal of names by organisations and individuals within each of its top-level domains, sales being processed through the Group's network of global registrar and distribution partners.
The MMX portfolio is currently focused around generic names (e.g. .work, .vip), consumer interest (e.g. .fashion, .wedding), lifestyle (e.g. .fit, .surf, .yoga), professional occupations (e.g. .law), and geographic domains (e.g. .london, .boston, .miami, .bayern). In 2018, the Company completed its first acquisition, the ICM portfolio, and launched its first innovation based project, .luxe, which combines the strengths of the World Wide Web's naming system with that of blockchain. For more information on MMX please visit www.mmx.co.
Executive Summary
Before reviewing 2020, perhaps the most important matter is the proposed Asset Sale to GoDaddy Registry.
On 7 April 2021, the Company announced that it had conditionally agreed to sell the major
The other flip is he might change his mind and decide not to go for the ride afterwards. Someone was selling not saying it was him but there were a lot of big sells going through.
All good here Hucks. Like you, sunday and others I hope the company is prepared to use its position as a cash shall wisely and to explore opportunities to bring a company to the market. My only caution is where our II's view will lie - but perhaps they have already given a positive signal given the previous reference to looking at acquisitions. I also hope SJL is part of those conversations - his proven record as an entrepreneur speaks for itself - and if there is to be life after domains - i'd like the business to benefit from his thoughts. SB
Silver, hope you are well.
I am quietly hoping SJL will have a plan post deal and the board will recognize his clear expertise in this market sector, there could be a massive upside for SJL with an RTO, worth piggy backing that possibility imo Huckster