Member Info for 30silver

Really "Richard" ? Given your account name and the fact that this is your first post - I'm gonna call "things that never happened for $800 please Alex"

Hi Billy - just to confirm, the heap of scrap you're referring to is known internally as CVI5, right? I tried for almost 18 months to get the board to listen to a solution that would not only deliver on site power capacity to run CVI5 (which the existing infrastructure couldn't supply) but also give Surface Transforms the option to run gas from the furnaces back through the system to effectively create (partially) free power and heat which would dramatically reduce costs.

Never have I seen more nonsensical valuations in my life. P/E ratios are on earnings, you're using revenue. Once the business is profitable and cash generate (remember the customers have been paying in advance to bankroll the Company) then we'll see a solid valuation, at the moment this looks like it's being driven by sentiment, and hope. I've been in for a year, seen my investment lose 80% of it's value, then come right back up to the point where I sold 70% of my holding to repay the full initial investment and leave 30% effectively in there for free. I'll cash out the lot once we break 3p and then 4p and walk away happy - perhaps it'll go to 10p, if you think this thing is going near £2Bn you're out of your mind, Brembo are only worth c.€3Bn FFS.

I can see them maintaining their c.50% margin, although to get to those sales levels they're likely going to be dropping sales prices so maybe it'd come off a little to 40% (which is still decent) so it'd still give a solid £60m GP? £45m in overhead, £15m pre tax an a 4x EV:EBITDA multiple - Brembo's is only 5x.

So 5p+ share price, £65m market cap (assuming no more raises along the way, which is probably unlikely) I'd say turnover would need to be in the region of £150m. They have neither the space on the site (I've been there over half a dozen times) and they definitely don't have the power available on site (that was why I was there) so I'd say outside chance of getting there in 3 or 4 years time.

Probably a good idea Tyma - it's starting to become petty (particularly from Sandyman) and adds little to the overall conversation. It's childish and ultimately pointless.

Whose account got deleted? I've been out of the loop for a bit on this as I sold most of my holding (didn't make much, but then at one point I was looking at a 75% loss so I'm not complaining).

Well - I'm out. Came in 12 months ago, tried to help the company out and they dropped the ball, my holding value dropped by over 80% and at that point it all looked grim. I promised myself if I could get out with a 25%+ gain I'd take it and look somewhere else. Fully out now at c.45% up, I know I could have left the shares (6.5m) to run and possibly made some proper money, but I'm not a gambler and I just don't get what's going on with this stock.

I hope I'm wrong and it goes up to 20p+ and I'm left wondering what could have been, but for now I'm happy with the return - best of luck everyone, I'm sticking around as I still see a way I can help these guys, if they'd just listen.

Got it thanks, reply sent with relevant details and also a little bit of the history.

LV - I'm not in at the same level (I've got about 7.5m shares), but I am in a position to help out - if you would like to get in touch I think we can have a proper conversation about what needs to be done and perhaps we can help the Company out.

Obviously I'm not going to put my work email address on here - but if you drop a message to lse.30silver@gmail.com I'll re-direct you from there to my actual account if you're serious we can have a discussion offline about this.

I bought in a while back at 1.7p and managed to average down to 0.91p - the question is do I keep holding on or just get out when what I'd once written off comes back up to par? I had a sell order in the market at 0.925p but I've just pulled it on the basis that there seems to be no stopping this right now, and whilst I doubt I'll keep in for the long term now I would like to take a little profit if it's there - as ever GLA and DYOR.

Well done to you, I managed to average down my holding to around 0.9p - I'm hopeful it'll get back up to par this year and then who knows, we need some solid news on production capability and cash burn.

I'll not disagree with the poor management argument, I think that's plain for all to see over the years with this company. On the specific point around CVI5 however, I'll stick with my point about power, given that I have been in the room with Maddock and Easton on numerous occasions when this has been discussed explicitly.

I'm not sure your source is all that well connected with regards the lease, I know the landlord and there's no issue there. They didn't (and possibly still don't) have the power to run CVI5, that's why it wasn't operational and it's likely the same story with whatever this unit that GM paid for was. Shame really as a solution for their power problems has been on the table since April last year.

It's the same one that's been subject to TR1's for some time now, it seems like his holding is going up and down like a bride's nightie.

Achievable at some point, sure. I also really hope so as I’ve got over 7.3million shares in this thing at an average of 0.9p. End of January (I’m assuming you meant Jan ‘25)? I’ll show my @rse on the town hall steps if that happens.

On what planet does that make any sense whatsoever?

Could be, I missed the post before it was edited, bit of a silly move to put that level of detail in a post when going to work for a publicly traded company.

The guy (Richard Redgate) definitely isn't from GM, he seems to be a troubleshooter / consultant who generally takes roles from between 3 months and just over a year. He's been at Bombardier, Sunseeker, possibly BAE (The KPMG Warton position - this is a guess). Let's hope that the generally short tenure is because he's really good, as opposed to good at getting in the door and then he sh*ts the bed once he's faced with a serious challenge, we all know he's going to get one of those here!

@Bagpuss That’s my understanding of it. The faulty furnace shortfall has been picked up by other kit, but I’m working on the assumption that we need the £50m capacity to get to profitability and cash generation.