Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
...... and those c5m trades (sells) were conducted at 8.97p which is also the Closing Price for GGP shown by Interactive Investors on my portfolio and not the 9.25p shown above.
Kingalf - I kinda wish what you say was true, but given that NWG has close to 9bn shares on issue, what staff are doing with their maturing share options will hardly cause a blip......unless of course they have just had too much disposable income!
Unfortunately, the banking sector and, perhaps NWG in particular, are well out of favour for a whole raft of reasons.
Maybe going some way to explain 15 years of decline in this share....and counting!
Best of luck anyway.
B
Tbh I'm surprised (pleasantly) that the SP has recovered to the extent it has but in looking to the levels of Premium increase the Insurance industry has levied this year in all walks of risk type, I do think DLG has been helped in its own steps taken to increase income and recover costs etc.
There's little doubt that the high levels of inflation seen in recent months, have greatly helped many businesses mask their own deficiencies allowing them to widen margins under the guise of general price increases but let's hope in DLG's case, they have also a close handle on their costs/ overheads enabling them to deliver a broad based, income driven growth in profits which will allow the reintroduction of Dividends at a meaningful level.
Recent sustained increases in SP suggest many investors may be thinking along the same lines imo.
I love it when all the big Brokers / Analysts blithly indicate their future anticipated SP levels for any particular share and then say absolutely nothing when the actual price fails to get anywhere close to their forecasts.
As with statements from politicians, any such advices should be ignored, with your own research much more likely to be both more productive and more accurate
Analysts record generally as far as NWG is concerned, has been absolutely woeful.
JABH - I meant to add that IMO, the Gov WILL sell their shares to the public at a discount but, doubtless will build in a lock-up period where on sale of these shares cannot be undertaken in the very short term.
This will help to calm the Markets' obvious reaction to move the open SP closer to the discounted offer SP but depending upon the length of any lock up and the amount of shares being sold, these factors could also impact on the SP in the short term.
Also, bear in mind that no new or additional shares to the existing Issued Share Cap are involved here, so no actual dilution. It's more the extent of the shares being traded that could disrupt the SP until matters settle.
All IMO of course.
I agree wholeheartedly with your views on the disposals mentioned. Only caveat I might express is the lack of demonstrable abilities within the Group's Executive to extract the true value of the businesses through growth/expansion etc had they retained them.
I would say it would most certainly depress the (market) SP , JABH, as otherwise it would immediately present any buyer with an arbitrage opportunity allowing to sell into the market at a profit. In reality, that's why placings, additional shares etc, whilst being dilutive, always quickly take the SP toward the prevailing price in the open market.
Here, the Gov's holding is substantial and any significant part being disposed of is likely to have an adverse effect on the SP at least in the short term.
Let's hope so Aff - best of luck.
Unfortunately, this share has done nothing but disappoint since the 2008 financial crash.
I suppose any shareholders at that time (including myself) should be thankful their investment wasn't written off entirely - and I am thankful - given at least the prospect of some sort of recovery in the ensuing years.
That today's SP after adjusting for the 2 spurious consolidation/capital reduction still results in a value less than 1% of its peak SP (ie no change since the Group's Gov bail out), doesn't reflect much progress.
So, despite the logic expressed by many newbies to this bb justifying their investment case, this share has defied logic these past 14 years with countless false dawns on the way.
All the best to shareholders whether they have lost a fortune or, just hope to make one........just maybe the latter won't be one day soon unfortunately with this bl**dy share.
Agree Chatroom - so disclosing confidential customer info to a journalist is quite acceptable according to our BoD.
What kind of standard is that?
Sky News are reporting NWG are about to announce the cancellation of the bulk of the £11m severance payment to A Rose.
Well, let's hope it's true and they cancel ALL of it.
Can't help but think there is the (not so hidden) hand of the Gov in this especially given the previous statements from our spineless BoD.
Can't really disagree with so many of the posts this morning. It does make me wonder however, who was the buyer behind the daily sizeable 'buys' going through in recent days.
Although I am not happy at facing some fairly hefty (well, for me anyway) losses, the really sad thing is that what appears to me as, a non medic, that the Co possess a proven advance in the diagnosis of a number of cancers which surely has the prospect of saving and improving others' lives.
Is this really being commercially developed as best it can?
This really needs to be 'parked' within a major Corporate in order that its product can be fully developed, appropriately marketed and 'hits' all the prospective customers at the right sort of levels..... a bit like the philosophy ofvthexTVs Dragons.
The worry is that there remains too much Capex still needed to justify planned returns on Equity despite what seems that Angle has, at least for the present, a world leading product.
Abject - I am fairly sure most shareholders are hoping that finally, the only way is up, although off and on, we have thought this might have happened a long time ago.
With the SP now back (in real terms), to a lower equivalent to its suspension in 2008, we have largely not just treaded water since then, but gone backwards.
True, the reinstatement if Dividends are a big plus, but despite the share reconstructions/consolidations, buy-backs etc investment in NWG has been a disaster (all the more so if you suffered the SP collapse of the Financial crash).
So, despite all the apparent progress behind the scenes (returningvto profit, simplifying the business, shoring up capital, reducing costs etc), it has defied everything to improve the SP.
Thus, looking forward, matters are not quite so simple. I just hope the bonus payments are fully justified if made as removal of the 'cap' on payment ceilings sounds like a re-run to excess.
I have read a lot about what A Rose is apparently 'eligible' for, be it bonus, salary, share option or whatever.
Given that she has been guilty of disclosing customer information to a 3rd Party, the disciplinary steps that follow, are unfortunately, fairly well trodden at most Banks.
She is NOT an exception and should not be entitled to any 'benefit' beyond that contained within the Notice period NWG would provide, although serious malpractice does allow for dismissal without notice etc.
Our mealy-mouthed BoD themselves are guilty of negligence if they permitted AR to resign and thereby retain her right to the privileges denied to more junior staff in such circumstances which can be the only reason she has the audacity to threaten legal action against the Group.
We really need a job lot of P45s here quickly as there is no shortage of candidates.
Can't say I blame the opportunists for trying to make a few quid here. It's been clear for a long time, all the Stock Market Indices (not just AIM) are operated like casinos with the odds stacked very much against the punters.
Fir LTH's, today's 'true' SP is around 16-17p and in 2008 when this was reached, the Group was on its way to insolvency saved only by the Gov's bailout.
Things ain't quite as bad this time, but in football parlance, NWG has been close to relegation too many times and needs fresh blood from the top down.
......and we are talking about Premier Division quality, not some of the inferior players of recent times who have also earned quite ridiculous remunerations.
ICO report on A Rose's breach of confidentiality (re: Farage, BBC etc), unsurprisingly concludes this to be the case etc.
Not only should NO compensation be made to this individual, but she should be sued for breach of contract, bringing the Bank into disrepute. Any pension should be curtailed.
Just don't expect any leadership in this regard to be shown by our BoD who should at least make a stand against the UK Govs direction in all of this.
,
The background to the Group's new Chairman would have certainly been discovered in 'checks' which are undertaken for every new candidate, and not just at this level of seniority either.
So having scored 0 out of 10 for Banking knowledge and bringing potential (further) reputational damage to the Group, as well as fairly significant concerns over his lack of judgement, our esteemed BoD thought this was the best candidate!
Words actually fail me.....
As for the potential new CEO mentioned in despatches, let's hope her experience in sorting out Bank of Ireland will stand her in good stead, as of course banking in Ireland witnessed by far the worst example of sheer incompetence, corruption and criminality etc to face the banking industry in recent times (leading up 2008/09) across both UK and Ireland.
We really need someone who has some sort of clue.
Thanks miavoce. I'm certainly more a fan of cash than 'profitability'.
B
Bentham - I think there's little doubt the Market shares your scepticism on Angle as the SP performance over the past couple of years amply demonstrates despite the various 'plus' points of Parsortix (many ofcwhich have been highlighted by EmeraldC in a number of excellent posts).
As stated, the strength of research and 'industry' specific data, were influential in my first investing in Angle some considerable time ago and was again a major factor in my reinvesting within the past few days etc.
However, looking at the business case for investing here, I have to admit its far from strong at this stage (imo).
The Co has all the attributes of a technically run laboratory, controlled by scientific specialists whose focus and expertise is centred on the science with the commercial sustainability only now being seriously addressed. Even now, reading the recent Interims, it reflects the scientific focus ad nauseum with the financial profile moved to that of a side show.
Angle really should be part of a major Parma Co's r & d dept. instead of a stand alone Corporate where true 'break even' looks little more than a pipe dream.
Cash resources remain significant, but at current loss levels, these would need replenishment in c18 months time given the annual cash burn of c £10m. Sales and Revenue growth is in % terms significant but there is not the slightest indication of when the Co hope to see Operating costs covered.
Recent Senior Exec appointments have a lot of work to do to reassure the Market and if key growth and performance hurdles can be met, then there should be a case for justifying a Capital raise a year or so on. Well beyond that, we will be better able to assess Angle's real prospects of long term financial sustainability.
Meantime, we could be at the mercy of a low ball offer from an opportunistic player but provided some decent Contract news can be delivered is probably the best we can hope for. This, at least, should help to sustain the SP for the foreseeable.
I, along with many, long(er) term investors, initially bought in here on the back of what seemed to be endless positive reporting/feedback from global research reams/universities etc on the Co's Parsortix product.
Parsortix seemed (certainly to me as a non-specialist in the field) a potential market leader and although competitors had products aiming at similar objectives, Angle's Parsortix appeared to produce better all round results.
The big disappointment was the lack of commercial success Angle seemed to achieve despite all the academic plaudits etc.
I am quite at a loss to determine what has really changed as I still believe in Angle having read more on the Co, its product and research than any other investment I have made.
I sold out at a loss a few months ago but have been tempted many times since and I have to say if you interpret the latest comments within the Interims, the much promised commercial success could be around the corner.
Given the SP has dropped so much, I have convinced myself to climb back aboard.
OutofLuck - your comments certainly ring true for me as well!
This is a severe break up of the business, so I anticipate they can package up their retail brands and sell these off collectively/individually.
To me focusing on the highly competitive UK retail market is chasing volume at the expense of margins and one DL seems increasingly incapable of competing withe big boys.
I really now struggle to see where DL sees itself as having any market edge over its competitors.