Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
GLG,
I guess quite a few can empathise with your mixed feelings on this, (particularly if cash is needed for other things) but just think of Prime Minister Thatcher's fairly famous comment to Geoffrey Howe. . .
"Don't wobble now Geoffrey"
PIface,
said "The risk from the AGM was resolutions not passed showing failing support. Did not happen so SP should suffer no harm. The likelihood was a dry RNS saying all resolutions passed"
Agreed - also expressed that view on here weeks ago so the result met my expectations and don't feel disappointed.
The nightmare scenario was that some large holder (II funds) would have 'tactically' voted against so that it didn't pass so as to trigger a wave of selling driving the SP down and then be able to buy up v e r y cheaply. . . . as would I.
I am still happy holding and picking up a few more as and when.
1N
I guess this will just be the standard procedure of the BOD re-electing themselves but otherwise nothing of substance.
Pity there can't be a Tesco or Lloyds type revolt. KPMG's protracted work will simply give the BOD a thin veil of respectability and a diversion for a while. Anyone got any more positive scraps of news please?
1N
I'm not expecting any announcements tomorrow.
Regarding SP AFTER the dividend is a good question though.
My thinking is that the size of the dividend following the (assumed partial) sale might actually be a guide as to the resources remaining with EUA 2 (OK resources in each of the licenses won't be identical) And therefore that the SP will 'adjust' on the greater certainty of the resources then known to be remaining.
IMO it could surprisingly 'adjust' up instead of the expected down.
It is a bit like trying to work the maths 'backwards' if one starts from an answer which is assumed to be correct. Trouble is every mathematician will come up with a different answer!
My personal answer will be to continue to hold provided that is an option for shareholders.
And I won't be surprised at a second suspension otherwise trading could be off the scale.
Wait and see. Never been in a share like this before.
See you all Monday for another early morning start!
Hmmm, Sova sold down and Bonam. . . . and Strukhov strengthening his tentacles.
Lawrence, I think he dodged the answers to your questions 3 and 4 which assuages none of us much.
On the other hand I am surprised to learn than KMPG have effectively nailed the $157M black hole on the former BOD without actually saying so.
As UDF says 'never a dull moment'.
I just worry that the final paragraph in the reply to Lawrence is just to keep everyone onside until the cunning plan of the current BOD is hatched.
1N
@Bovey,
log in and on the right hand side you will see an email sign from where you can send HL a secure message asking them to cast your vote in favour of all resolutions - remind them of the deadline.
Glad you bought some too and willing to vote.
PS. You are nothing to do with Tracey?
JennyT,
Well, I think today has been better than expected for you :-)
Certainly makes me happy to be in profit again and happy to hold for a bit higher in the coming weeks. Most of the market has been down and not expecting much interest to return for a couple of months. . . patience pays. 1N
CAW1, Thanks for that. There are a couple of things here for me. . .
1. BR came late and are likely underwater - hence the short, sell, buy cycling that's going on to try and get themselves even. The lower the SP the more I buy - so thanks for that BR!
2. It perplexes me that otherwise intelligent people seem content to deny the vast evidenced wealth of EUA and the shrewd and cunning measures taken by the BOD as this DYNAMIC process evolves; doubtless with good counsel at every turn from DLAP and UBS.
Originally the mines/licences may well have been aggregated under EUA in such a way that realistically it was just too large for a suitor to buy the whole outright. Is it feasible therefore to make the whole package more saleable at best price by effectively changing EUA into smaller entities corresponding with the licences held. . . . and then conclude a binding agreement for the sale of each of these individually to the best bidder. Alternatively the lot to just the one bidder but at predetermined intervals of time at a price linked to the prevailing metal prices. Either way, it should make it more affordable to the buyer(s)
In the past I have split assets to maximise sale proceeds - not on this scale though!
Just my take on it at the moment but I am bracing myself for some surprises to come - EUA is just like that ;-)
1N
Sbrace,
Morning to you here. Hope you managed to cast your vote on 'the other' BB.
1Noise
sbrace,
here you go....
"Shareholders wishing to vote, or appoint the Chairman of the meeting as proxy, on any of the matters of business may do so electronically at www.signalshares.com. Or a form of proxy is available at the Company's website (https://www.eurasiamining.co.uk/investors/circulars-notices)"
Cheers BB, a little better. Thanks.
Tricky,
Your post reminded me of the huge sum of taxpayers money that went to buy all the PPE from Turkey. It was totally unfit for purpose but the UK government was contracted to pay the full amount of the contract. Huge waste of money.
It will be the same with innova and because of that the government will ask ODX to supply at cost only - a bit like AstraZeneca vaccines. It so irks me that someone takes the cream first and leaves us with the gruel. Grrr.
Saxon said. . . .
"it may well be playing into the hands of a hostile counterparty which might still aspire to take the Co out on the cheap if it has, in total, 25% or so of the votes (when those with which it is acting in concert are taken into account)"
Saxon is right - don't risk it happening - only recently a 'concert party' stole Petropavlosk from it's board of directors. VOTE FOR.