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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We pretty much know for certain that SBI will post full year revenues of £85-£90m - and with ebitda 30% it likely gives them £45-£50m in cash in bank after tax. We also know that opening of the California lab is imminent which would add 2000 pcr tests per day. it’s how you value that on the presumption that the pandemic goes away in 2022. Market cap is currently £120m and I can see why Liberum’s PT is 190p but seems conservative.
Massive demand for testing at the moment all bodes well for the trading update!
Tipped in a few places over the holidays so share price should get back to a sensible level.Update due early in the new year, will add to my holding in the next few days.
Christopher Mills talks positively about Sourcebio (03:00) here:
www.youtube.com/watch?v=cG7_82WZdmc&t=2135s
Further coverage here not posted before:
Https://www.proactiveinvestors.co.uk/companies/news/969017/sourcebio-will-get-boost-from-pcr-testing-upsurge-as-omicron-spreads-predicts-broker-969017.html
"SourceBio will get boost from PCR testing upsurge as Omicron spreads, predicts broker
The rolling average weekly PCR tests conducted is the 2nd highest since the pandemic began
Mon 13 Dec 2021
SourceBio International is well placed to benefit from the latest surge in PCR tests for Covid sparked by the Omicron variant, according to analysts at Liberum.
PCR testing volume in the UK has steadily grown in recent months with the rolling average weekly PCR tests conducted of 454,000 now the second-highest since the pandemic began, said the broker.
UK travel requirements mean that all arrivals must complete a Day 2 PCR test through an approved provider, a list that includes SourceBio.
In October, SourceBio’s PCR test was endorsed by Which? as the best provider of affordable Day 2 testing and ‘the most reliable choice for consumers.
The reintroduction of a mandatory Day 8 PCR test for UK arrival is also said to be under consideration by the government.
With the base business also now trading at pre-pandemic levels, Lberum believes SourceBio should meet forecasts for revenues this year of £86.5mln and underlying profits [EBITDA] of £21mln with potential to do even better in 2022 if more testing becomes the norm.
An update on trading is expected in early 2022 and Liberum sees potential for forecasts to be raised and has a buy rating and target price of 190p."
Other shares in the Covid testing sector had excellent days today & we are therefore lagging,which will hopefully change for the better once we publish a year end trading update .
Consequently I increased my holding today
Can see a slow climb upwards into january ,results due around mid jan ,then whoosh as it hits home that sbi are in a sweet spot in current epidemic.
The way it’s going testing is going to be a permanent feature in our lives for years & years to come,
Sourcebio seems very well placed to be a major player in this market, surely it’s only a matter of time before the share price reflects this?
Https://twitter.com/SourceBio/status/1471096433654829059
"We are experiencing extremely high levels of inquiries and demand for our COVID-19 Testing Services"
Cmon Jay a wee trading update would send a rocket under the share price.
Sourcebio on twitter
"We are getting overwhelming demand for our covid tests please bear with us" results in a couple of weeks could be mega.
LO adding to their substantial holding tells us clearly what they think if our prospects
Well it wings for the sleepiest c-19 stock on AIM... How long will it rest before it wakes up with a bang? Surely positive drivers here... I'll hold, top up and wait.
Here's the narrative from Liberum's new research - they say buy and have a 190p target:
Https://www.sharecast.com/news/broker-recommendations/liberum-stays-at-buy-following-emergence-of-omicron--8858910.html
"Liberum stays at 'buy' on SourceBio following emergence of Omicron
Analysts at Liberum reiterated their 'buy' recommendation and 190.0p target price on shares of SourceBio International, telling clients that there was room for the company to beat its estimates for 2022 following the appearance of Omicron.
PCR testing was now at its second-highest level since the pandemic began and the government had reintroduced Day 2 PCR testing for travellers returning to the UK, they pointed out.
There were also discussions to reintroduce mandatory Day 8 PCR testing for travellers.
All were positives for the provider of laboratory services.
Furthermore, it base business was trading at pre-pandemic levels, the analysts said.
All told, that left the company "well-positioned" to execute against their estimates for the 2021 financial year of £86.5m in sales and earnings before interest, taxes, depreciation and amortisation of £21.0m and to "potentially outperform in 2022."
"We have left estimates unchanged at this stage whilst the outlook for PCR testing volumes remains uncertain. We await an update in guidance from management in early 2022. Nevertheless, we believe there is upside potential to forecasts. We reiterate BUY and target price of 190p.
"[...] The 2022 testing outlook remains uncertain but if the demand for private PCR testing remains high and international travel continues, then Source is well-positioned to benefit and outperform on expectations."
Positive trading update should be soon announced as our C-19 testing division must be outperforming our strong trading from earlier in the year due to the substantial increase in testing,which is likely to increase substantially over the coming weeks,unfortunately, resulting in further substantial increases in our bank balance
At least another 21mill in the bank heading towards 50% cash in bank versus market cap a steal!
Heading to 200p in the next few weeks pre results.
Liberum 1.90 price target , forecast upgrades possible with increased PCR testing
Remember only 15mill shares in public hands so any good news this will move fast.
Trading update due early mid Jan .
My wife ordered a test 2 weeks ago to travel to lisbon placed the order at 10pm and lo and behold it was through the letterbox 8am the next morning.
Google best travel covid test and who pops up SBI.
Which have updated blind testing on dec 3rd and we are top recommendation.
Announced yesterday should provide a further boost to our C-19 testing division which we know was already having an exceptional year,despite the expected reduction in revenue in Q4 following the previously announced reduction in restrictions.The new rules may prove (hopefully in the wider sense)to be temporary , but will nevertheless provide an opportunity for us to generate more revenue & profits over the coming weeks ( & maybe months) ensuring our company is even more cash rich & able to expand its other divisions while also seeking new opportunities.The C-19 "boom" benefitting several companies benefitting from the awful pandemic has , so far,passed us by, but perhaps the Market will now recognise how well we have done & are likely to continue to do.
Cant understand this price totally undervalued .pcr now needed b4 arrival. Must rerate back to £2.
Yep just checked the half yearly report-£101m of debt repaid-that will save £11m in interest payments alone:
Cash balance of £17.2 million (31 December 2020: £8.4 million and 30 June 2020: £1.5 million) with no debt (30 June 2020: £101.3 million)
Am I right in thinking theyve also repaid all of their debt (may have been another company)?