Member Info for Campomar

Trading statement shows continued improvement.

In fact if it hadn?t have been for sterling?s strength against the dollar they would have broken even at long last !

Armstrong investments now up to 13.16% from 12.16%

They seem to have a policy of buying bombed out AIM stocks. They have recently had a big winner with XSG which has risen 5 fold in the last few months

It’s a renewal, not new work and at £250K a year will just about cover Chris Jepps salary !

Options granted at 0.25p

They should be ashamed of themselves

One thing I?ll say about Richard Bennett, he set the share options at 3 times the then share price. This lot clearly just have their snouts in the trough

Latest research from cavendish has current net cash of only 500K after a placing of 1.7 million only 9 months ago. That?s a hell of a cash burn so let?s hope their cost cutting plan works, there?s no margin for error

Think you need a reality check !

Still no FD (big red flag) - the vacancy remains unfilled 6 months on…

No CEO

Not one announcement of any new work since the placing last August

Burnt through over £750,000 since that placing.

Estimate of month month losses minimum £50K meaning without any new work another placing will be needed during the second half.

This is 2p for a reason!

The most announced announcement ?

300K out of the proceeds will have lasted them 3 months at current cash burn rates

One floor of the building on a 12% per annum sale & leaseback term

No proper new business of any kind for 2 years ?

No FD.

CEO forced out

Shambles.

As is always thx case, news flow is key & without it, this is likely to drift down

Could is the big word

They keep saying that but it never materialises

They haven’t won any significant new work for 2 years now.

Out of the £1.7 million placing money in August, they only has 900K left by end Jan.

that’s one hell of a cash burn in a few months

They are once again up against the clock and they need to win proper new work - that they haven’t been able to for such a long time - not wishy washy collaborations

Back in summer the house was marketed as a 10 year sale & lease back at auction with a yield of almost 12% and failed to sell

I would guess that to get a deal where they only lease half of kitson house, they may have had to pay more - maybe 50K interest a year?

I assumed having spent 500K of the placing money by year end, that must have gone on paying off the 500K bridging loan they had to secure when the house didn’t sell. But that loan is being paid off now using the kitson money.

It would seem they are nowhere near cash flow positive despite repeated assurances from the former CEO.

No doubt like his equally useless predecessor Copus he will get a full year?s pay off - circa 250K

What a mess, CEO Richard Bennett has resigned. They haven?t even replaced the FD yet ! Very much beginning to feel like a sinking ship

I?m actually a bit shocked that they have only 900K left out of Augusts 1.7 million and are reporting a loss of 0.5 million when only in August we were told break even would be reached.

More importantly not a mention of any significant new work.

Not sure why it’s not showing up on the news feed here..

Getech, a world-leading locator of subsurface resources, is pleased to announce from the Paris H-NAT 2024 natural hydrogen conference that it has won two contracts with Kingfisher Energy Corporation, ("Kingfisher"), the private international exploration company, to locate natural hydrogen and helium accumulations in Canada. Initially focused on North America, Kingfisher has narrowed its search over the last year to a previously overlooked exploration fairway in Canada with significant hydrogen and helium potential.

Getech was approached by Kingfisher to deploy its gravity and magnetics capabilities and geoscience understanding to analyse this region and add to Kingfisher's own technical expertise and access to local data. The contracts have commenced and the two companies are working successfully together with a series of potential project areas for both hydrogen and helium already identified.

Very interesting announcement for 11 new green hydrogen projects across the UK in the budget

Could GTC?s mothballed hydrogen assets come back to life ? Wouldn?t that be nice !

Interesting someone still has a large bet on GTC share price rising with Spreadex disclosure this morning

Ok thank you

Has this been published somewhere ?

Bit of a short squeeze going on, I see Spreadex have taken a holding which suggests someone is betting on the share price rising?

And here’s an article about why they are investing heavily in AIM stocks such as GTC

https://www.cityam.com/octopus-quietly-pumps-25m-into-mispriced-aim-market/