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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Wh0s - good point!
I was thinking conspiracy, they deliberately fudded TE10, now selling to their buddies at a knock down price, but in reality it may just be this is all it's really worth. Even at 17p SP is only 25% of that....
Partly agree with you on point 1 - but isn't that also what Maghreb and even Fastnet would have said too? It doesn't work that way...
Eric, think we should focus on the important things
For me, whatever JP has said about investing is irrelevant, I don't believe a word any CEO says and I certainly don't go to investor events for the same reason
Best to ignore Crudehope
I can live with not finding gas, either through incompetence, bad luck, bad geology, bad whatever, in hindsight Exploration is right but we were all looking at the big goal
Two big points for me
Point 1 What would be unacceptable is to find there really is gas, and someone makes buckets of money but not us
Point 2 What if someone made a 25p cash offer and didn't want to make a hostile bid? Would we ever find out about it?
crude - I quote from your earlier post;
take yourself back in time & try talking about a share raise that investors might have supported? You cannot do it because it is the equivalent of medieval heresy: you would have been metaphorically burned at the stake for ideas that are as unwelcome as the flat earth theories were in the 1600s! No investor likes share dilution!
When we had a 33% dilution when acquiring OGIF 25% of license you lauded this as a great 'deal', and immediately took The Failure's £1.50 /tcf to £ 1.70ish. !! This was done when the sp was c84p and and a few millions was raised from PI's. And in any event, if you attempt to be 'fair' ( not in you MO though), I wwas suggesting, as another alternative, raising cash from the money market, since we know an investment company is willing to put up $112M for half of our license. I am pretty sure an amount of c $50-60M could take us to 1sr gas, with no dilution, still keeping our 47.5%, and on better terms than your man negotiated with his pals at CIP. You are a disgrace in that you still want a self confessed failure ( he put the company up for sale, after depleting £30M in cash less than a year ago.), to go forward with this abomination of a 'deal'. Kirk, your star burnt out a long time ago, take a hint.
Hi Prudent
Correct, this not a witch hunt. We want to be careful we don throw the baby out with the bath water.
I just want more information and we also need to understand if some aspects of the draft agreement can be changed.
I do have suspicion that we will get an RNS tomorrow.
I do not think there is any harm in putting together a list of concerns for Sound to consider. They could choose to address it but it would need to be publicly disclosed. And given the status of the transaction with ongoing negotiations, it is very unlikely that they can. However by raising our concerns now, they would need to take them into consideration and address them by the time the vote is required, simply because the PI have the majority of votes and Sound has always position itself as PI centric. The upside of raising them now means that there is ample time for them to considered. Personally I would stay focused on the merits of the deal.
The position of JP can be addressed through the normal procedures such as shareholding votes but the Board will already have noticed the massive decline in share price which normally leads to the CEO being asked to move on- I just feel that given he constructed the deal and established the contacts and positioning of Sound in Morocco, the Board would need to be careful in removing him at this stage of the transaction unless there is an available replacement.
So far instead of a pay out, we have a pay cut, i.e. share drop.
Wanna bet Tuesday SP circa 3/3.5p drip drip.
This deal is for the benefit of Marco Continental not private investors here.
Am down 90% down to £10k today.
JP should keep the door open for better offers once other interested parties see how unpopular the JV and 9% issue has been received by us.
It has been said before. Many people would be better off if imminent bankruptcy had gone through. I don't think it can be justified that he saved previous shareholders when considering the predicament current shareholders are in. The carnage is on a far greater scale.
https://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=SOU&Size=620&Skin=BlueWhite&Type=2&Scale=0&Span=YEAR10&MA=&OVER=&IND=&COMP=&XCycle=&XFormat=&Layout=2Line;Default;Price;HisDate&SV=0
”Rescued Sound”!? Sound is a basket case designed to screw the private shareholders. I’ve been arguing this since sound was at around a pound. Now it’s only worth a few pence and still is overvalued. It’s mantra raise money with the promise of riches - remunerate directors and throw the rest away - rinse and repeat - then watch the share price crash as everyone realises they’ve been done.
Testpack, take yourself back in time & try talking about a share raise that investors might have supported? You cannot do it because it is the equivalent of medieval heresy: you would have been metaphorically burned at the stake for ideas that are as unwelcome as the flat earth theories were in the 1600s! No investor likes share dilution! Raising funds on the AIM is an art that balances present shareholder concerns with the prospect of selling your company soul to the devil for a few years of earthly contentment by way of the bond market! There is no perfect solution but dilution is instant death...warrants at least allow investors to see death coming!
I will scrutinise this deal & vote accordingly - but I will not be part of any mutiny against the man who rescued Sound from imminent bankruptcy, back in 2012!
I've not had a reply to my last 2 mails to The Failure. Yes, they asked for his resignation, but were constructive. lol. I'm afraid I am persona non grata.. Since at least you are getting replies from him, can you ask whether the company, at any time in the past 6 months, made any efforts to raise funds, either by share dilution, or funds from the money market, based on income from 1st gas, or a combination of the two. Cheers, Testpack3