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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I wondered about that.
This is still £7,634,800 - £2,871,860. So £4,762,940 worth of shares left to purchase until Sept.
I have been corrected by a friend that the share buy back has a limit of ten million dollars and not pounds. Sorry for my error regarding this matter.
Hi sheeffieldwols
I agree with you agreeing with me ;)
Indeed, 3,624,275 shares at a total sum of £2,871,860.81 have been purchased to date. No purchases in July so far.
Plenty more room (and time).
Interesting.
LunaNera
If my calculations are correct the company has bought back just 3624275 shares for cancellation while about thirteen million shares could be purchased for cancellation at current prices under the present buy back scheme. I have to wonder why they have not purchased more shares for cancellation in the last week or two with the price of the shares being at such a depressed level. After in recent weeks talking to people who have more knowledge than myself about the supply of electricity etc I just don't see that in a few years time that nearly everybody will be driving an electric car. In my humble opinion it isn't going to happen. I agree with you LunaNera about the way forward being improved catalytic converters on all existing CBEs....
Isn't the buyback limited to a value of 10 million or by Sept? I didn't add it all up but it looks like the fiscal limit might be reached.
Sentiments oscillate.
Will be interesting to see what happens once we realise that a necessary solution is to improved the catalytic converters on all existing CBEs...
My long-term thesis still holds. I don't see the need to exit. Still happy to take advantage of negative sentiment.
We will be back into the 80p's minimum over the coming weeks imo. Hugely oversold. Just plain daft really
Rhodium also up >10% off the lows.
Suggestions the company has stopped buying back it's shares on a permanent basis are totally wide of the mark.
SLP often has breaks in the buyback programme, in June, for example, they stopped buying on May 14th but started buying again on June 13th.
I suggested the RSI had not been as low since 2016, it was obvious a material bounce was coming, I re-iterate the short term chart target price is 81p.
Certain entities who have sold can either buy back in now or wait until it is far higher, the bottom has gone IMO.
If it is a buying opportunity ask yourself why the company has stopped buying at this level.
For those of us that held SLP for a number of years, when the basket price was at this level, the SP was much lower than the current price.
In addition, for those looking at the "headline divi" look at what the dividend was in 2018 / 19 and you are basing such a high future dividend on shaky ground with the current FCF.
I am sure I will be accused of trying to talk the price down, but I am more trying to get people to look a few years back for a realistic SP not a few month back and thinking this is a bargain.
Yes, I have sold out all my SLP holdings after it went ex dividend, and yes I do intend to buy back in but it wont be at these levels I suspect, unless the PGM basket shown a sign of significant upward movement.
RSI is turning up from a significantly oversold position, very bullish, short term chart target 81p.
For anyone invested like me who went through the pre covid to RH spike to $20k, it was only caused by covid, you had mine disruptions, a shortage of supply, and then China reopening and everyone buying cars as they didn't want to travel with others in public transport pushing demand, RH was in short supply. Things are now different. China is incentivising EV again ,EV sales are 30% and rising rapidly and due to RH being so high, recycling also became more efficient. Go back to 2019 and RH was sub $4k profits were $18m and eps 6c, my sheets say eps is now 7c on $5k this is why for a while I've said 60p was likely due to cash and it's come down to that despite some saying that was a joke... QED. What happens to RH now is guesswork, it's in a downtrend but reported power outages in SA could cause supply disruptions, which could create production shortages, bad for miners initially but pushes the RH price. Cash ps plus eps 1-3 years is a good deal but RH is the driver. SLP has done well to maintain this perfect 70k production during some difficult times. The broker has been buying at 79p which is a bad move, at least start at sub 60p and buy everything below as that's where value investors willing to part with larger sums enter.
Mulder no it isn't, it's 63%, you are not converting the dollars into pounds.
Nutmegmilk- on the contrary! Though I happen to disagree, difference of opinion quite welcome.
Looking beyond the immediate,I see less use for over priced metals! ... I know you dont want to hear that but watch this tank!
Market selling SLP in response to falling price of precious metals and poor economic outlook in the immediate. In my view, for those looking beyond the immediate, current SP offers a buying opportunity.
The business is fundamentally strong, continues to make profit in difficult trading environment and has huge cash reserves. Precious metals a finite resource, demand forecast to grow rapidly. I continue to add to my position.
The fall is obviously fear in falling out-of-sentiment PGMs, no mystery.
Would you sell your leather wallet for 10? Maybe if the market for leather wallets was 10 or less. Probably not if 15 unless fire sale and you needed the cash.
But I'm pretty sure you would not sell for 10 if you opened it up and found a 20 in there. That would be a ridiculous thing to do is what artrader was getting at as I understood it.
If it falls to 35 Jaco and co will set up a company and there will be a MBO or take over as whatever he pays - 10 - he will get 20 back immediately and make a killing with no risk. Legally.
That is why it will not get below cash price per share. If it does or gets anywhere near, load up. Heaven is a place on Earth.
(I should write a song about that haha.)
It is not Ridiculous any share can got down to 1p ..... this has lost around 20% in a few days why do you think that is ? .... and there is always a good time to buy shares, for this it is not now!
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Have added again this morning, with a bulletin board full of bashers what's not to like - as I say the RSI at its lowest since 2016, from experience when a stock like this reverses the downtrend it will be fast, in my view it is pretty close to that right now.
DYOR etc
Ridiculous 35-40p ...... it would be like selling pound notes at 50p .... they have $184m in cash/debtors
This is not share by back this is f…… fraud
I'm seeing quite a few things fall to near cash per share or cash per share and 1-2 years eps, things seem rather odd. Most of my calculations are not on broker estimates but actual current cash estimates & spot prices. Once the bots have control of a downtrend they seem to be trashing anything, even good things. Falling prices are causing some funds to liquidate at crazy levels. applause to anyone who makes money this year.
I'm out at break even price based upon original purchase price.
I've done well in terms of dividends, but should have sold a long time ago.
Being busy with a young family isn't really compatible with AIM shares...
This has a long way to fall, would not touch this till around 35-40p at a guess... governments pushing for all electic cars faster than thought, China has already stockpiled all the metals it needs , and of course vladimir putin western hatred!
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