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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Breakout
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yes
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seems good value atm with £/US$ rate stable between 1.5-1.6 (as it has been often over most of my life...or at least that's how it feels)...EV/EBIT not too high...good margins/brand as far as I can tell...decent balance sheet support ...I would loading up in 80p-£1 range given what we know now, and happy to hold decent slug here
finals in march with some humongous trades going through today!!! maybe positioning for the cash return?
£10M material return! While the Board has evaluated a number of potential acquisition opportunities of varying scale during the past year, in the absence of a major acquisition, the Board has reviewed the cash requirements of the business and is considering a material return of cash to shareholders, anticipated to be in the order of £10 million, probably via a tender offer. A further update will be provided at the time of the preliminary results.
Danalbo thanks for that I'm in rhyl. N Wales Sorry folks
Trading in the second half of 2014 was stronger than the first half of the year and, despite a negative foreign exchange impact, the core consultancy fees increased in the second half relative to the same period in the prior year. Operating profit is anticipated to be ahead of the Board's expectations at the time of the interim results, due to the mid-year correction in the sterling-dollar exchange rate. For the year as a whole, the negative FX rates in 2014 mean that the Board anticipates that it will report Adjusted Operating Profit below the 2013 level of £5.7 million but would have exceeded this comparator on a constant currency basis. (Adjusted operating profit excludes amortisation of acquisition related intangible assets and share based payment charges.) At 31 December 2014, the Group had gross cash of £23.9 million and net cash of £15.1 million. The Group's debt of £8.8 million at 31 December is secured only on the freehold property in Harston, which has a current carrying value of £13.6 million. While the Board has evaluated a number of potential acquisition opportunities of varying scale during the past year, in the absence of a major acquisition, the Board has reviewed the cash requirements of the business and is considering a material return of cash to shareholders, anticipated to be in the order of £10 million, probably via a tender offer. A further update will be provided at the time of the preliminary results.
http://www.cambridge-news.co.uk/Sagentia-s-run/story-24678502-detail/story.html
of 1m more shares by Ruffer
finally a decent sell...not a cheap buy back?
nice little 10%+
Total purchases by SAG of shares this month of about £320k has helped add 8-9p to the share price, or £3-4m to the market cap.
Share buy backs better than distributing profits to shareholders but why are Sag not using profits to better fund organic growth or target potential acquisitions through M&A? Reducing shares available is good for shareholders in theory but suggests the business is not looking to step up growth targets beyond current forecasts... Another view from a SAG investor with simple overview of company http://www.iii.co.uk/news-opinion/richard-beddard/lessons-accidental-trade
interesting to see the bounce...EV/EBIT undemanding & good management ...questions over market and SAG's position in if (but larger than indiustry margins comforting)
2.5k shares back...still on free ride... ...not cheap as chips (EV/EBIT somewhere around 7 which seems right given volatility of consulting EBIT) ... but strengthening US$ helps ...and the share buy back (and Martin's substantial shareholding) comforting
See my 7 July post - I knew the 2014 HY results would be look poor compared to an exceptionally good H1 2013
going backwards despite OTM...waiting for signs of op profit growth or oddly low EV (?£20m/80p sp) before using my monster profits here to add to my 3k free carry
Sagentia partners Premaitha : http://www.sagentia.com/news/press-releases-and-news/2014/sagentia-partners-with-premaitha-health.aspx
Yeah that's the one. See you on the PMR bb perhaps? Dan
No probs Libero, Is it the same El1te that posts on here?.....assume it is. As you say fantastic analysis. Thanks, PMR will have a butchers. DD
DD, Thanks for posting that link. El1te's analysis is incredible as always and - as usual - having read the article I agree with him. There are risks here that really cool my enthuasiam for this share unfortunately. Very best regards as always, Dan / Libero PS - check out PMR if you get a chance :)
Libero This may be useful, bit old though (Feb 2014): http://www.theel1tetrader.com/2014/02/sagentia-what-is-fair-value.html DD