Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
The KRG own GKP - GKP has one asset in one place with one customer - unfortunately the same customer issues the licences and payment terms and timescales under which GKP operate (which is whatever suits the KRG) - GKP don’t have the luxury of other oilers (like DNO who have multiple assets and deep pockets) to take people to court or withhold production as either route would finish the company
Even if proven resources doubled/trebled the bulk of cash in a potential takeover will have to go to the kleptocrats who run the show (no doubt with assurances of more to follow) - not to GKP shareholders - any one who thinks otherwise does not understand ME politics/mindset
HUR/T?
I expect they are really looking forward to answering shareholders questions now....
Slaughter the BOD
Bewail the share price
But Never Ever
Belittle the Quo!!
https://www.zerohedge.com/technology/competition-secured-chinas-evergrande-commits-be-worlds-largest-most-powerful-ev-maker-3
Hopefully the rush to secure supply will benefit us all
Buy back ....
Until the politics are finally sorted, payments made and the mechanism for future payments restored and the field resources updated to remove any further speculation then GKP is no more than an oil price play
We are repeatedly told that hardly any shares remain in PI hands and that the “city” spending loads of (other peoples) money buying shares - a fact the Sp does not reflect
Also it should be noted the company had no issue at all buying $m of shares during its frankly disasterous
To some GKP is almost a religion. Many have invested huge amounts of their money (many to losses) and even more of their time justifying everything in a positive light “gkp moves in mysterious ways ..”
So when you commit blasphemy (criticism of any type) you will feel their righteous wrath ! (Censorship)
May Todd have mercy on your soul ....
Nothing has changed ! Cv-19 lockdown in place and housing market frozen.
Liquidity created so institutions dump onto retail - look at any market “crash” and see the jagged peaks all the way to the bottom
Most life the board has seen in ages
I have been in this share forever and it’s the only one that I care about - a terrible flaw in investing I know
I believe it will come good as the resource will be needed for some purpose and Russia will want it monetised - just what “comes good” looks like for us long suffering lot is the question - right now I’d take part nationalised with some serious rubles thrown at it to get it up and running !
Told you It would be damage limitation
Won’t confirm on the dividend - no pay cuts. Had to admit they lose money below $35 oil price and have to spend $60m this year regardless of getting paid
Work out the cash burn at $25 oil price for the next 6 months - then decide if you want to top up
It will be a damage limitation update
Still producing X barrels
No safety incidents
Ongoing dialogue about getting paid
55k still on track for the Q 1/2/3 of 2021/2/3 etc
I’d be amazed if they said anything about cancelling the dividend yet or taking a reduction in their pay. If they cancel the dividend then this goes to 20-30p range in short order .
Oil price rise and KRG paying up are the only share price lifting metrics in play at the moment
This is what people keep ignoring. Kurdistan is an utterly corrupt plutocracy where the plutocrats extract the wealth from the oil in the ground (kindly pumped by IOC’s) for payment terms set by said plutocrats
Agents sold their soul to Rightmove and the portals
Gone of the day when the local agent held the specialist knowledge and instructions which required the public to go and talk to them. Agents just list On Rightmove with all the info and hope the buyer just offers
Expensive high street offices and large head counts are not needed as volumes have collapsed from the peak.
There are still great companies and experienced agents out there who can add value for all parties involved but this archaic remnant of the pre 2007 market (CWD ) needs to be broken up and cut back to survive - seems they want to double down on their old mistakes and make an even more unwieldy beast which is doomed to fail.
BoD still get paid as it crumbles so always a silver lining ...
As an ex agent I agree - no volume in the market and only going to shrink while people wait it out given employment and business uncertainty - when the smoke clears (4-12 months) will be some great bargains around but I doubt CWD holders will benefit. This will be delisted by then and in the hands of the debt holders who will cut to the bone once they get a chance and reduce headcount and office locations by 75% in my opinion.