Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Cawn,
yep, IG doesn't allow POLY. I set up an HL account to trade it.
NGR, for what it's worth, IMO
S lost Markman 4-1.
S lost PTAB 47-0.
S failed to get motions to re-define agreed.
S failed to get N experts removed.
S and N agreed to removal of red QDs to concentrate on green ones (or was it the other way round?) which doesn't seem to favour either party, more about time pressure in court.
It seems neither corporate nor lawyer bluster that N believes it has a very strong case. We can't know what has/is happening in mediation but N must surely have been pushing for a similarish but reduced amount compared with what it thinks it can get it court. Ultimately, N is content with the case going to court.
Both parties have very strong legal teams - it's a draw.
As we've discussed before, we don't know what S court arguments will be but I can't help thinking this will be a continuation of glossing over, claiming ignorance and trying to obfuscate N case with the jury.
Court is a gamble for both obviously, but S may be thinking:
The worst is we lose with a multiplier (let's assume a max of 1.5x as 3x hardly ever seems to be applied).
BUT we might still be able to negotiate a deal that reduces that amount thus avoiding the delay and costs of an appeal for both parties.
We can win - if N appeal, we can drag it out for at least another year with no guarantee that N will win the appeal, quite a risk for N and its funder.
Even if we lose and pay out, the max damages will still only be (say for argument's sake) 5% of this year's profits. It will hurt a bit but won't damage our future, even with royalty agreements.
If we lose face, it will only be a temporary situation. I remember another poster referring to tomorrow's chip wrapping - made me chuckle!! (The only reason I remember Intel's 1bn fine is because I'm invested here.)
Was AMGO removed from the indexes, as it doesn't appear on the highest risers board in LSE? I couldn't google this to find out but now that re-lending has been agreed by the FCA surely that would remove any barrier to being re-listed. It might help stir interest from more retail investors.
I suppose we are 'lucky' to be in the position we are now, bearing in mind the looming recession etc, in comparison with NSF and Morses who are both much further back in the process.
Pleasantly surprised to see today's spike as I thought most investors had more or less forgotten AMGO but at last the future of the company looks more definite and positive.
Still deep underwater with an average just over 9p but I will risk the RI when it comes, whether the full amount or tail-swallowing.
Well done all the LTH - it's been a long, tortuous and at times worrying couple of years. Looks as if it will be another 2 years before they reach full steam ahead which I hope will by then be fully reflected in the SP.
gazlad, the RNS from 24/08 says this:
The Board proposes that the record date and payment date for the distribution of the post-Completion dividend shall be no later than 90 days following receipt of the consideration payment.
That suggests that as long as you have shares by the record date, you will get the divi. If I buy for a divi, I usually buy at least 3 working days before the ex-div date to allow the records to be updated to show me as a shareholder.
The problem here is they are saying within 90 days of completion with no hint of the record date, so if you leave it too long, you might miss it. So maybe buy sooner than later.
All existing holders will be on the record and entitled to the divi, unless they've got an odd share structure with A and B class shares with different entitlements but that is not likely with a minnow like this.
Saw this on the Beeb just now
https://www.bbc.co.uk/news/business-63155827
European deals being made to keep coal-powered stations on standby. Might this mean they need to increase winter coal reserves? Should help support current prices.
Maybe we should look into investing in candle-makers as well!!
I use IG as well. They charge £8 per buy/sell subject to a min of £24 per quarter. Once you exceed a number of trades (can't remember the number), the charge drops to £3 per trade.
I suspect the spreads are also bigger than using a proper broker but as I'm a small investor I think it makes sense to stay online, as also easier to make quick trading decisions and the occasional day trade.
Liquidity is usually good with them though I did have one annoying NT earlier this week - but not in NANO.
Great SP movement the past few days. However, having thought I was clever getting in at 76p and then 58p, plus a teeny top up at 7p with the cash I had left, I'm still heavily underwater (actually, on the seabed!). Being selfish, if there was to be a TO bid, I wouldn't want it to be until the SP has recovered to well over 40p.
Can't buy on IG currently. Are other brokers the same?
JG, I think this only means that REVB will no longer be shown on active index listings, though we can still search using the ticker or name?
Maybe they should sell that overpriced vanity project of a head office and move into Portakabins instead of possibly shutting some shop that actually generate revenue.
I'm not convinced a 'smaller, leaner' operation is the answer. The retail shops are a big part of the Joules experience, unless they can market and compete online more effectively.
The AGM statement in the RNS said
"The FCA has yet to approve our return to lending, however following a long period of review and discussion, we are finalising details with regards our proposals to commence a lending pilot. During the pilot, we will be undertaking significant testing to ensure that we are lending affordably. We continue to discuss our approach and implementation with the FCA to achieve these goals as soon as possible."
"Long period"? Jeez, sounds as if the FCA is, once again, dragging its heels. This is barely a step forward from GJs statements. How complicated can this process be - short answer, not very.
Have you seen Morses Club today, now saying they are essentially loss-making despite good progress in their digital division. Their need for an SOA makes it look like they will going through the same curve (or twists) as us but at a worse time for them.
AMGO seems to have a reasonable sounding product in RewardRate at a time when recession is looming, on top of inflation and reduction in benefits. We should be in a good position to pick up on increased demand, si I still think this company has legs and am likely to reluctantly take part in the RI, though it means I will have much more money inveted than I'm comfortable with.
How do you chaps/chapesses feel?
Good luck in any event.
Was only holding about 1600 shares but sold all this afternoon to preserve profits, having got in at 133p and 180p.
Should pay the heating bill next month ;)
I do believe this is a well-run company that has been completely shafted by geopolitics (and not helped by the economic picture either). The likelihood of recession, continuation of the war and the decline in gold price just seem to be saying how long is a piece of string when it comes to the catalysts that will start moving the SP to a valuation it deserves.
I will be watching this company and BB with a view to re-entering once things brighten up, even if it means missing a chunk of profit should the SP move up quickly.
Best of luck to all holders - I reckon this should come good (and probably multi-bag) in the medium-long term.
Poor old retail can't get a break. A solid if not spectacular RNS tells me this is a steady Eddy of a business with the ability to expand when the economy improves. In the meantime, a healthy divi should keep investors happy.
So, with a fairly good RNS, under a 4% rise - if this had been poor news, it probably would have tanked 20% or more. Markets are so jittery and down on retail.
If we go into recession, then I will be keeping some powder dry for when we come out the other side as there are lots of retail businesses that are now very undervalued.
Can now buy through my broker, so made a small top-up even though the spread is large at the moment.
While the rest of the market is open, JOUL is in auction at 08:04. Wonder if there are a lot of orders being filled.
I'm guessing buys not sells.
Mmm, got in here at 76p to start with, thinking what a bargain. Oh dear. Then some more at 62p. Aaargh.
After each bad drop, we ( and I include me) have been saying it's overdone, which is true but it keeps happening. Retail seems to be taking the biggest hits and there are a lot of quality companies in the sector which seem now far undervalued.
I got in expecting a recovery in a few months but now seems to be receding into the distance.
It may be worth a day trade tomorrow or even the next few days, esp if there is some speculation over a possible bid.
Looks good for trading, then! Possibly higher risk for a longer term hold.
I bought in at about £9 SP 18 months ago and was considering a top-up...that was until I read the link. Thanks for supplying this - the clincher almost made me laugh about both 'businesses' being on the same industrial park.
Although the amounts involved are relatively small, it does seem to raise some serious doubts about the company's integrity, especially one that has built much of its growth around acquisitions. If what Iceberg says is correct, we could see an SP drop larger than today's welcome rise. It raises the question of 'what else?'
On the plus side, operation gearing is low and the buying of Balta and reorganising it will add a decent chunk of EBITDA.
Maybe I'll steer clear for now.
I bought in about 5 years ago at 250p (sob) so this is one of many shares sitting in the bottom drawer, waiting for something to happen. At least there's a divi that has been maintained and today's RNS is reassuring, assuming ladies don't have to cut back on makeup to pay the leccy bills.