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NelsontheDog, a lot of the problems you outlined arise from TEKs misconceived investment in LUCY. Giving a plumb job to a family member has damaged credibility and a lack of clarity how TEK handles the situation with LUCY going forward.
Cliff is poor at raising finance generally speaking. It is a chicken and the egg thing. Can't have financing without confidence and can't have confidence without financing.
Cliff has done well at conceiving Guident and Microsalt and to an extent BELL so perhaps there is still a role in the company in that aspect of the business. After all, he does know the university IP very well and what is available to TEK for future projects.
TEK is not a normal business and you can't just bring any old manager in to be CEO.
I think the picture is pretty clear. SALT up 50% in a week. BELL up 66% in a week. Guident going from strength to strength and about to given a handsome valuation. Yet LUCY which is already worth next to nothing to TEK falls. TEK doesn't move.
Where are the TEK management? They need to actually do something for once.
I think this was written on Friday so a bit old. Also, it has been so frequently covered in UK investor magazine, that i doubt there is any readers who aren't aware of TEK by now.
On this idea of loading up on LUCY i note this guy didn't mention the £6 million cash burn. It looks like a value trap to me. To my mind LUCY is a main reason why TEK trades at such a discount to NAV. Myself and other investors are concerned that TEK will throw increasingly more money down a LUCY black hole.
Harold Braun has agreed to do a Revive only interview coming soon.
On the disconnect between TEK and the sum of the parts valuation, while i agree to some extent there are some reasons for this which need more attention.
I am not sure whether LUCY should be seen as an asset and a liability. They had a £6 million cash burn last year, and there access to alternative funding is extremely limited. Is Cliff going to extend TEKs gains to bail out his son?
Cliff's bonus. There are added costs in TEK such as Cliff's outsized pay packet which need to be deducted.
Cliff needs to make an appearance and provide clarity on the undervaluation and answer some important questions that investors have.
Guident NAV in TEK's mid 2023 report was $20 million. So given the strong trajectory since then i would guess something north of that now. Perhaps £20-25million. Fact that they are doing a private funding round now suggests they are confident that they can sell it.