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After the drama of the last week, the quiet is no bad thing.

That should all change in January when the assets come far more into focus unless Tambo really surprises to the upside. We should know this week.

This is the statement on the Invinity website above the graph I just mentioned.

"Use your battery as much as you want to, whatever its state of charge. With no warranty limits on battery cycling, Invinity’s batteries deliver stacked revenues and future-proofs your investment. Over 25 years, its enormous throughput advantage results in the lowest price per MWh stored or discharged (LCOS) of any storage technology. In fact, a single VFB will deliver 3x the lifetime throughput of a comparably-sized lithium battery."

I think many less battery-focused investors won't be able to get their heads around the enormity of that statement just yet. The marketing teams will have a field day with that.

Morning everyone,

Fantastic news today and a very long time in the making. This is a very good start for the new CEO.

The technical spec fact sheet is available on the company website which can be readily compared to the VS3 model. Note also the graph on the main web page for cumulative energy delivered vs lithium.

Next up I would welcome an update on cost-saving initiatives and LODES finalisation. That project combined with today's two project releases delivers the backbone of the 2025 revenue forecast. I trust the won't be the last.

https://invinity.com/wp-content/uploads/2024/12/Invinity-ENDURIUM-Data-Sheet-MAR000020-2024-12.pdf

Thanks once again Theoldtrader.

I never thought IES would be so subdued so close to the launch of its groundbreaking new battery.

I take it back your quote was correct but my wider point stands.

@SOS I believe what he actually said was "It doesn't look good on the surface" but then went on to explain what actually happened which is plausible for those wishing to believe him. It's no good just quoting one sentence. The full context of what he said must be considered and then judged.

But I will ask you this.

If they land a tax loss deal and demonstrate the commerciality of Blue Mountain in Q1 will we still be talking about this cash raise then? I put it to you that the cash in the bank at that time will act as a key fuel for the SP off that newsflow. Such that even those who felt burnt at 0.44p (of which most certainly were not) could still make a handsome profit if they simply stayed the course. It's called investing and not trading.

Now trading at sub YE cash looks overdone to me. If they land a decent trading update a solid re-rate could be on the cards.

Apologies I get what you mean now. You were referring to the new warehouse facilities which come on line in February.

" Fulfilment capacity across the Group will increase substantially as of February 2025, following the doubling of the operational space and related fit-out at the current facility."

In the investor presentation, I heard nothing about additional costs for this through automisation. I understood it merely to be more of the same.

They also said this in the interim,

"the team is focused on growing revenue in Q4 and reaching the tipping point for profitability in the three core trading businesses."

So Q4 could well demonstrate they are or are nearly there. The end of cash burn is a major de.risking moment here.

Yes but that is future related and I took it you were concerned about the current costs rising.

My first goal here is to see them reach cash flow positive and then actual profitability because it is a major milestone.

You may remember that I posted that the CFO stated that only £1.2m of the H1 admin costs are overhead separate to the individual working units. So that is the goal in terms of operating profit across the 3 businesses and it shouldn't be all that far away. Demonstrate they are tracking towards it or even hitting it and a sizeable re-rate is on here.

I am not entirely writing off Q4's chances of hitting it either be it that it may be holiday season driven.

I believe additional warehouse costs are a red herring. This is from the interim.

Plus the other two brands have now been centralised so the number of orders automatically increases substantially even before further individual success in Q4 from each brand. Then we have the reduced postage costs as a centralised deal kicks in there also. So I don't see where this is an issue.

"Warehouse personnel costs increased significantly in Q2 2024, predominantly due to additional shifts to be able to service increased levels of demand. A substantial element of the warehouse personnel costs are fixed meaning that additional picking and packing capacity can be added to existing shifts incrementally as needed and costs do not grow pro-rata to order levels, such that the overall warehouse staff costs per order should fall with increasing volume."

Also, I note that since 8th Oct Beauty Boop has gained c. 1740 new followers on Facebook which is a rise of nearly 200% in just under 2 months. The ITV appearances no doubt have helped which as I have said before is a great tie in branding to build trust in the business.

I expect Discount Dragons boosted by Christmas to deliver at least £3.5m in revenues. At the Q3 average basket size of £35 that equates to 100,000 orders. The limited number of complaints and indeed order discrepancies (which I might add they work very hard to answer and rectify) on Trustpilot are not a true reflection of the service quality being delivered. That isn't to say that I can prove that it is far better. More that Trustpilot needs to be placed in context.

But if we must go there then as I demonstrated the other day their business review score is top notch which it of course has to be because that is what drives growth. Customer service is one of the best differentials they can offer front end.

The market is currently asleep to the potential that the YE update can bring here. I will be interested to see how share trading in December runs though.

One last thing.

If they had explained that to the market before raising many of those so offended by this raise would have stuck the knife in by leaving and possibly left them with no chance to close it or it would have been at the mercy of the city. Yes they promoted it and that was naughty but that achieved the highest price possible and only c. 25% down from the highest price paid in the run-up. For LTHs like me it doesn't hurt as much.

That is because this money and the opportunities they have before them can easily move those who bought at that level into profit within the next few months. I have seen countless fundraises by companies for far more shares from directors who get paid far more and care much less whose share price highs prior will never be seen again and the reaction was never as angry as this.

As someone once famously said I'm staying because I feel strongly that I am one of few who have clarity on this right now. If I am wrong then that is on me and no one else.

morning moneyman,

these labels are cliches pulled out through laziness and a lack of willingness to think properly. the lifestyle company one is the best of the lot and is being repeated over and over without any evidence to back it up. just say it often enough and it will stick.

i have not directed any comments at sausageonstick. my debate here was with cocobeans. the key difference between us so far is that i am willing to listen to counter-arguments and change my mind if said argument undermines my reasons for being invested. so far i haven't heard one.

i have also said many times that i didn't like how the raise was handled and i have told the ceo as much. but what i am willing to do is place this raise in the context of everything else. that being the current market, how difficult it is for little minnows like ecr to stay afloat (think about how many examples you have seen where these small plays with great assets get swallowed up because the deal they have done was decided on someone else's terms). the directors attitude to renumeration vs. how hard they are clearly working. the results so far both on asset sales and exploration. the other players at the table such as nick tulloch and mike parker. the near term milestones and what they can do to push this business on. the quality of the raise price wise and the fact that each raise has been higher than the last. that demonstrates effort and care and it isn't just mike ******* who is responsible for that but he was involved.

i choose to count these things alongside my upset at the timing of the raise and the manner in which it was conducted. but i don't kid myself that i fully understand their needs or their pressures (particularly from this potential tax loss buyer who is clearly much bigger than ecr and so has more muscle) and so i must be careful to single out this one raise as the only thing going on here. but at the same time, i need to mark some cards and be a little more wary.

when those debating with me or offering strong-worded emotive reasoning for this being a lifestyle company or a house of cards about to collapse decide to be more reasonable then the debate could be a very good one. however, that isn't what is going on, is it? so when i see such one-sided and deliberately negative posts i will when i have the time challenge them.

i have been invested here for around a year now. i backed the new directors when i saw that they were committed to pushing the potential of their assets more than their own pockets. this raise as naughty as it was delivers them the most cash they've had since joining and it will mainly be spent on things that add value because that is the form here. it also gives them a position of strength in those tax loss negotiations which i believe is needed. nobody wants to see all its right now but i do.

Touche theofficecat.

You are working very hard today Officecat.

The CEO has just doubled down on his views around the tax loss sale and arriving at a signed sales agreement. The market and negative posters here can ignore that or rubbish that as much as they want but it won't change what's coming.

https://x.com/DDS_DocHoliday/status/1861767926551912484

This is all getting rather silly now.

It's 3 placings in 14 months from a standing start in a company that had no funds when they took over and all non-core assets except the tax losses have been sold in that time. Plus ECR is bullish on those too whether the market is ready to hear it or not. As just explained in the latest interview. It will bring nothing of value to respond with they haven't sold the land yet because it is a process that has begun and will now likely complete.

Nor does restarting the thread with the same title because you didn't like how the last one was developing.

Additionally, 3 placings mean what exactly? They could do 20 placings for 50k each and it would mean nothing. It is about the total funds raised. Total dilution and at what price and is that price rising with each raise or falling? Plus many other factors.

I don't like how the placing was handled. But the CEO has at least come out and explained it. It is for each individual to decide if they believe him. What I see is the bigger picture here and that this placing does not define this company's prospects or upend them. It is a short-term influence that when it comes down to it enhances their chances of delivering a significant re-rate across multiple opportunities.

The tide will turn here soon enough as the reality of the opportunity and perhaps the correct entry price arrives.

I don't want to infest this BB or any other social media hub. So I will try to keep my posts to a minimum but I will challenge things I deem to be falsehoods. News is what should drive this share forward and when it comes I will comment as I see fit.

Other than that it is time for a break from talking about ECR.

Here is something I wrote in answer to someone who told me I would lose all my money with ECR.

This #ECR BOD has raised 3 times first at 0.175p, then 0.3p and now 0.33p. So the direction of travel is up.

One year ago today the SP closed at 0.225p Today it is at 0.305p (+35%) with all of the effect of the +£1m of recently achieved cash still to come. So again the general direction is up under this BOD.

I trust the process here and see the hard work and therefore can forgive this raise so long as the money is put to good use.

Too much focus is being placed on the tax loss deal when it should be directed towards the assets starting with Blue Mountain.