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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he will comment in due course 4 sure. the issue here is trading ASX , and liquidity, in the short term.
LT tho, the more serious issue is that BoD credibility is destroyed. Who wants to invest with directors who have not just manahed to screw up a fabulous asset (I refer to the holdings in SFT, and the NSRs) by getting caught out with financial instruments and other investee companies, but on top of that shown willing to screw over their UK shareholders?
Wonder if Simon Thompson at the IC will comment on this. This sort of value discrepancy is quite rare. I've doubled my holding today, even though I'm not sure whether i'll be able to sell. HL sent be a holding email reply.
Hello Fiercey. You had me flummuxed for a while there. What the devil is a "drama tic" I thought? Some reference, with regard to the Board, to a blood sucking little critter? Too many of my little grey cells expiring with old age I fear!
Of course Q Hence the reason that with a drama tic and some would say engineered drop, we actually have huge purchases going through so clearly somebody somewhere was primed on this and a very few are going to make huge sums.
After all, it was 12p yesterday and in the scheme of things, there’s not much difference is there…
Have you bought today ?
Is BMJ still a major share holder here....be interesting to hear he's take on this event ?
I agree 50% discount does sound like a good punt. I have bought some too
Call me crazy but I just bought more. The discount to NAV is almost 50%. Far too much. I genuinely think this is a vulnerable target now.
Can’t say I’m happy with this. Not because of the move to ASX - it’s the right move. But the lack of information provided to PIs in particular is poor and has caused todays panic selling.
Moving to the ASX will give MTR the freedom it needs and it’s now for the BoD to prove their worth - no more excuses as there’s none left to give after this. It has to be success or the sword for MM.
In regards holdings, most larger brokers allow you to hold ASX shares so no issues. We will no longer be at the mercy of market makers tricks and price action will be solely buy and sell based. I expect the price to be much closer to NAV after this move to ASX.
Very frustrated and not nice to see our holdings smashed but I remain positively invested. ATB.
Hello Tacotaco. Yes clearly your negativity has turned out to be well placed, but the worst thing about how things have turned out is that the BoD have had to work really hard to create the pig's ear we've got now. As Willowman has already said , all they needed to do was sit on their hands and wait for the money to roll in and the share price to go up. Instead they thought they were Rick Rule and Warren Buffet rolled into one and traded our wealth away. And now they want our approval to carry on! With apologies to the great man-never in the field of AIM investing has so much been squandered for the enrichment of so few and to the disappointment of so many.
****S
Large shareholders are wall crossed in companies across the board. LSE/ASX/NASDAQ etc... all the time I have been contacted in other companies I hold large shareholdings in as well. As a result of wall crossing you cannot trade the stock. That is insider trading!
I’ll say my Piece later but on the basis of what you just said Q “Large shareholders would have been canvassed” that’s insider trading isn’t it ? If it isn’t, then why not advise every shareholder 3 months ago that this is what we are going to do and this is why ?
I’m sure insider trading is an offence isn’t it; a shareholder is a shareholder no matter what size of the holding in a company; or am I wrong ??
Fiercey
"or make an offer to the larger shareholders." who will no doubt look after us "smaller shareholders"
We "smaller shareholders" need to make ourselves heard. We need to attend the meeting the meeting on the 20th
Sorry to say but i've been warning about how badly this company has been run for years. Unfortunately some long-term permanent residence on here (you know who you pumpers are) that suffer from cognitive dissonance have aggressively attacked me and most likely given false hope to many of you.
If after 8 years MTR is still debating which junior exchange is better for it to trade on, then holders ought to consider their whole investment thesis. So ask yourselves how much longer would it take for them to actually implement a serious plan??
Apologies for the negativity over the years but i sincerely think it been well placed!
ASX liquidity almost non existent as the register is currently very small. Sharers were held by a few large holders. A take over target possibly but anyone going down that route would have to start stake building or make an offer to the larger shareholders.
I have reached out to Hargreaves Lansdown. I suspect that one will be able to hold and sell but not buy (as pointed out by an earlier poster). Any value in averaging down? What is the ASX liquidity like? Surely this is now a takeover target - one could buy the company and immediately realise the discount to NAV...
KB, yes I am. I was not painted into a corner. MTR wanted to keep the London listing by applying for the SFS section of the London Market. Unfortunately that did not come about due to the high retail shareholder base. By remaining on AIM it is not possible to enter into certain types of investments.
I did not say I was happy with the SP performance. But I understand why they are doing this. AIM no longer fits the investment strategy for this company. An EGM can be called at anytime.
Illaquens, are you a "larger shareholder"? If so how much of a choice were you given with regard to the strategy going forward? Or had the Board already painted you into a corner with no alternative but to leave AIM in favour of ASX?
My vision for Mtr was akin to it being a distribution hub sitting between the Sandfire nsr and shareholders. The nsr would roll in, gradually increasing in size over time, the bod would skim off enough to pay their salaries and keep the lights on and the rest would flow to shareholders. The share price would gently rise over time, underpinned by the rising value of the Sandfire shares, the rising value of the nsr and the steady increase in yield. Everyone would have been a winner.
I agree . The Board owes a duty to all shareholders not just the ones they cosy up with.
We need an egm now, they need to answer some questions for pulling out of aim with only asx available.
Waste of space the bod are.
illaquens, are you suggesting that the bod have performed well over the last few years? You are happy with the results of their investment activities and pawning a large percentage of the Sandfire shares and wasting the money? Each to their own I guess. Personally, I stayed here for the nsr but I now fear that they will soon be messing that one up.
Good grief, I'm absolutely staggered.
I wasn't massively impressed with the bod in the first place, but this just desperately clutching at straws.
I was foolish enough to think we were just treading water when really we're drowning.
Your first paragraph is spot on Willowman.
I hold via HL and last time I enquired their clients will be able to sell shares held on ASX but not buy.
With regard to the SP, it's already picking up after the initial shock and the volume is still low so I don't expect it to finish this low at close. This will further reduce confidence in the Board, however as nothing they have done so far-consolidation, buy-back, ASX listing ,complex dealings re SFR shares has achieved anything positive at all. I can't see how they think they are going to instill confidence by offering a more active strategy.
Is anyone intending to go to the meeting? I think as many of us as possible should turn up. I shall certainly try to but there needs to a strong shareholder attendance to ask some difficult questions and get some honest answers.