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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As mentioned last night at 1902 hours: -
"I hope all the metals etc remain on the up for a while, though worry that the movers and shakers will give us a shakedown correction so as to catch out us smaller players"........Maybe its started as most miners were down today, and articles in todays FT are reflecting a possible change in sentiment.
Extract from todays FT...“While calls of a metals supercycle are growing louder, the evidence suggests we’re in the midst of a cyclical overshoot,” said Bart Melek, head of commodity strategy at TD Securities. There are similar comments in other financial papers today.
" the CEO's job desrciption is "
Tsk!
Well it would be if I could spell it correctly - description!
" they stressed they had shareholder value return high on their agenda, which I liked "
---------------
Depends who said that.
Nerd's corner:
That is the primary function of all BOD's - to represent the welfare of the shareholders, primarily via their chosen spokesperson - the chairman.
The CEO, is not tasked with the welfare of shareholders as many investors mistakenly believe - the CEO's job desrciption is to carry out best practice for the welfare and good of - the company.
For anyone who's interested, JLP came right out of it's overbought condition tonight and lies just on the border. So their real pullback commences from tomorrow onwards. Could be a bit stingy, or if channelling SLP's usual behaviour before today - unnoticeable.
JLP dropped over 3% in one day today, but SLP dropped more with an unusual 5% one-day drop, compared to recent months.
Now that is unusual for SLP - for one day.
(Think that JLP poster has been posting on this forum without social distancing or wearing a mask - that's what caused today's pullback - for sure!!!)
SLP has parked up on a key, smaller trend line, and thus 110 held, as I suspected it would. Gave me a surprise with it throwing a wobbly like that just as I was typing on my phone and fighting auto correct.
Confirmed by rechecking back 6 months and it seems to be the case on each occasion, that the SP always pulls back to the same trend line (which is pleasingly always on the rise generally) on the short-term trends, AND no further, when nothing permanent is afoot.
The only time to be concerned is when the more longer-term, predominant, authoritative trends above it, turn bearish - and they are all bullish to a man.
So officially I am in the "temporary-pullback only" camp of today's SP performance.
- as I am on JLP's imminent pullback
- but don't think that lot will handle it well, I bet, judging by one or two posters over there today.
So parking up circa 110-ish area still fits as, 'not much ado', although after today the SP does carry a bearish label attached to it, as does JLP. So this recent posting of who's performed better recently, is now a moot point, as both have bearish labels around their neck this evening.
And I don't think THS will get off lightly this week either - doesn't it have an upcoming XD day sometime before this week is out?
- So it will take a hit too.
And it looks like getting drawn back into the 120's - the one thing I want to see THS leave for good - the 120's.
But THS's 120's are behaving like the leeches in the African Queen. They'll be all over THS maybe from tomorrow onwards.
So all 3 are taking hits this week, so what will the debate turn to then? - Who can take the hardest punch???
Don't know why we don't write to all 3 CEO's and ask them to slap their todgers on the table and get them measured and see who comes out the winner. That should stop the comparisons for good, eh?
Seemed ok to me, not the most dynamic pair of presenters.
But the profits speak for themselves.
The dependency on other people's chrome mining for feedstock struck me but that's not news to most. There's plenty of life in the dumps and mines. 20+ years it seemed to me.
They are obviously a cautious, well run company BUT they stressed they had shareholder value return high on their agenda, which I liked
Just a bit of help required. Have most of my exposure in shares, but swapped some shares for some geared exposure with IG. As they’re stopping it soon, does anyone know else that trades them? Appreciate any assistance.
"The Group also holds mining rights for PGM projects and a chrome prospect in the Northern Limb of the Bushveld Complex."
There is your potential growth.
Didn't come across as all that positive - lots of drag on profitability and reduced production. Entirely reliant on the basket which the major banks predict will fall in the next 3 years, What did anyone else think?
i'm assuming they are going to upload todays webinar to their website ?
Hi Gotreal!
No, it's you that hasn't got a clue. And you are deliberately misleading in your quotes as well - a $50m investment by Tharisa to produce several hundred thousand tons of chrome per year starting late this year is NOT a pilot plant.
But good luck with your investment in JLP. And do ignore the fact that Colin Bird and Leon Coetzer recently sold massive amounts of shares in their own company. And whatever you do, don't notice the irreconcilable differences between the operational results reported in their periodic RNSs and the hard audited figures in the annual accounts.
Today at 4pm - interesting to hear what they have to say.
TBTT.... JLP's Fine Chrome operation commissioned in 2018: https://jubileemetalsgroup.com/investors/rns/commissioning-of-fine-chrome-operation-commences/ then moved to Inyoni: https://www.miningmagazine.com/covid-19/news/1387316/jubilee-metals-to-relocate-fine-chrome-operation . Meanwhile Tharise is still working out how to make its fine Chrome operation work: https://www.tharisa.com/the-vulcan-plant.php ..." is being developed by Tharisa and a demonstration scale plant is being constructed. The feasibility study and process design will be undertaken in conjunction with the operation of the pilot plant." Feasibility study ..? Still don't know if it will work properly then... ;) As for Sylvania...? https://www.londonstockexchange.com/news-article/SLP/second-quarter-report-to-31-december-2020/14844899?lang=en "The Mooinooi chrome proprietary processing modifications and optimisation project to improve fines classification and fine chrome recovery efficiency, as announced earlier, is on track and is expected to be commissioned towards the end of Q3 FY2021" Maybe the end of Q3 2021.... Do a search on "fine chrome" ... Rearrange these words...arse talking out of you are ....
what time was that, just out of curiosity
Annnnd would you believe there's the half £milly buy order filled at £1.11....
:)
Indeed the dips are welcome opportunities ;)
Tiger, absolutely. And look at those buys coming in and orders lined up :)
£1.09? Yes please.
Hi Stoodio!
Rule 1 of SLP investing - always buy the dips.
It's always worked out nicely so far!
Bangrak I look at other indicators in conjunction with the RSI to get a fuller picture. Gotta go and see what's what, the world is front running ahead of my posts LOL!
Crikey! The delayed LSE forum SP was on 116 when I last looked before typing below (takes me ages on the phone (typos) but speedier on my desktop) But even looking at 113- I alter not a word of my post below unless the SP breaks through 110 area.
Must say I was as expecting this in March - not now.
And just noticed 110 as I post!!! Events are running ahead faster than I can bl@@dy type.
Need to get off here pronto and get to my live prices charts!
RSI can stay overbought for months Velo if the fundamentals are there, you are likely to sell out of descent things too early adopting a 70+ overbought rule. JLP hit the top of an ascending channel SLP tends to reverse off the 20EMA. 108p this will go to IMHO.
Rhodium continues to set new highs. $24,000 oz.
I see this as nothing more than a welcome pull back, and an opportunity :)
" We certainly appear to be rather range bound at the moment "
-------------
Disagree. (He said in a conversationally pleasant manner :)
- The truth is the SP is in a very slight & gentle pullback and has been for the past 5 trading days (from circa last Wed).
And that's because the SP is descending out of just kissing the overbought entry barrier but not breaking up through in to it, probably because the last big break through into extreme overbought condition is just a few weeks ago that commenced in the dying days of December and terminated approx in the third week of January.
From then, it pulled back recovering in February - and raced back up to the overbought barrier yet again, from which, last Wed it has just retreated from once more.
I've posted before SLP is such a strongly performing hot stock that it's a characteristic of the breed that overbought conditions abound and oversold are a lesser seen breed. Indeed the very first oversold I see I will be out with a big butterfly net and my cheque book collecting as many on offer SLP shares as my net can catch :)
JLP is hot at the moment and is moving up even deeper over into overbought condition. In fact all indicators are at extreme levels., so a cheaper entry for top-up's or new entrants may be available soon. Or like SLP, it could stay overbought greater than is usual defying pundits like myself who think these hot stocks will react like run of the mill stocks. (They don't, they're rule breakers :)
They can defy convention longer than you are used to seeing on "normal" run of the mill uninspiring performers.
I'm happy with the SLP's SP performance over Jan and Feb and am quite content should Feb close in the vicinity of where the SP is intraday right now as that would give just about a double figure % gain for Feb - and at the start of Jan, the forecast for both months was something like high 20% to into a 30%+ gain and that's still on the cards based on probabilities.
Where will this current lityle pullback end? Can only guess - it's on a key trend line right now so may peter out descending here in the mid teens or go to the next at circa 110 area before recovering it's predominant trajectory which is, and has been for many a year - up up and away :)
year, 31 January 2020 the excellent 2nd qtr results were announced and the share price dropped 10% over the following few days, followed by a 74% increase by 19th February 2020.
I appreciate that there was an expectation of fireworks after the interims with the PGM basket price increases of late. However, the Net Profit figures were already known from the production reports. What we didn't know was why they were quite frankly as low as they were.
The cash costs have increased and will continue to be a burden until the end of FY'22 but that is only a very small explanation of the financials. In essence the board has taken a very cautious and conservative approach - one I agree with. They have taken the opportunity whilst times are good to put money away for a rainy day and increase the strength of the balance sheet.
Cash was not as good as it should have been but that is simply down to trade receivables - a $32.4 net outflow or a change of $40m from the corresponding period last year.
Reserves have increased by $20m covering future unknowns.
All in all the 6 months showed exceptional growth and the board was able to show the increase in EPS whilst adding to the balance sheet. This paves the way for a very good Q3, most of which we can predict already.
Neither Spreadex or IG are taking new long bets on SLP.