Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Fuuuuuuuuuu............
Why would RMP mention an F/O for a project that is nothing to do with them??
Perhaps 88E will release their own operations update which might include mention of the F/O process. They are probably too busy right now doing the actual work which is why RMP were able to release the update since they aren't currently doing anything else!
Bel,
"Performance Rights Allocation Price = The VWAP of a Company
Share on the ASX for the 60 trading days prior to but not including the
date of the Performance Rights ISSUE"
"The Performance Rights will be ISSUED in five (5) tranches with each
tranche subject to its own Vesting Conditions. "
So there will be 5 issuance's, as per the second quote. It seems pretty straight forward to me. As cd66 says, why would a company propose an incentive plan that does nothing more than aim to sustain the share price.
The formula to calculate the % growth is given as:
"% absolute share price growth= (Hurdle Price - Performance Rights Allocation Price) / Performance Rights Allocation Price x 100
Where:
Hurdle Price = The volume weighted average price (VWAP) of a
Company Share on the Australian Securities Exchange (ASX) for any 60
trading days post the date of the Performance Rights issue
Performance Rights Allocation Price = The VWAP of a Company
Share on the ASX for the 60 trading days prior to but not including the
date of the Performance Rights issue"
As you can see, the elements of this formula are both relative to the dates of the performance rights issues (plural). The allocation price is relative to the 60 trading days prior, and the hurdle price is relative to any 60 trading days after (so it could be at the end of the year, or sooner).
I agree with cd66beta's interpretation & explanation of it.
So that would mean that for DW to earn his full remuneration, the share price should be:
After 1 year: 1.15p + 200 % = 3.45p
After 2 years: 3.45p + 200% = 10.35p
After 3 years: 10.35p + 200% = 31.05p
So while it may not be quite the rocket some were anticipating, it is a lot better than the 3.6p that is being mentioned.
This would make DW's performance rights worth just under £10 million in a company with MCAP £1.86 billion, and make most investors rich enough that they would be happy for DW to have any size of bonus he wished!
Bromb, great job as always keeping the Q&A updated!
I've just noticed a slight formatting error in the Q&A which was replicated on the production notes you added to the front page. I only noticed since it involves 2 of the questions I submitted. It doesn't really change the overall content but may cause some confusion as it attributes the start of my 2nd question as being part of DWs answer to my first question (specificallly, the part which says "I realise the Western Block project was a very opportunistic deal."
Please don't think I'm having a go or demanding that you change it. I'm sure I'm only one of many who are grateful for all the time and effort you put into the wiki voluntarily. I just thought I'd point it out since I noticed it to clarify and clear up any potential misunderstanding. It should read as follows:
Horseshoe / Western Acreage
Q What is the long term plan with the new Western Block project? Once drilled and proven, do you intend to continue as a producer and use the money generated to help fund any of the other projects? Or will you look to sell 88E's stake in the venture at that point to provide quicker access to a higher working capital?
A If it is successful then we will pursue the most accretive path for shareholders – could be an outright sale or could be that we fund it into development. Depends on many factors.
Q I realise the Western Block project was a very opportunistic deal. Are you on the lookout for other such opportunities or did this one merely present itself to you as an offer you couldn't refuse?
A Always on the lookout (see Yukon Gold for example).
I agree, excellent ANN.
The only thing that confuses me is why you would say: "1/ HRZ farm out will NOT be this year far too much data to be analysed."
When the ANN clearly states:
".....farm-out of both the conventional and unconventional prospectivity at Project
Icewine....... aiming to complete a farm-out prior to year-end that will result in significant expenditure over Project Icewine to continue evaluation of the large conventional and unconventional potential identified over the past three years by the Joint Venture."
Have I misinterpreted this part of the ANN?
Q> What is the long term plan with the new Western Block project? Once drilled and proven, do you intend to continue as a producer and use the money generated to help fund any of the other projects? Or will you look to sell 88E's stake in the venture at that point to provide quicker access to a higher working capital?
Q> There has been recent talk on the message boards regarding possible consolidation. Can you advise if this is something you may consider in the near future or if your thoughts on this remain unchanged (ie. That it would do more harm than good and therefor isn't something you'd consider at this stage).
Q> How strong is our negotiating position in current Icewine farmout discussions? Particularly with regards to how much we will have to give up and what we will receive in return for it. For example, would it bear more resemblance to the Armstrong deal with Oil Search, or to the Great Bear deal with our new consortium? I realise this will be a sensitive topic that you may not be able to answer due to the farm out talks taking place currently, but I thought it worth asking in case you can give us some kind of an idea of what we might be looking at.
Q> I realise the Western Block project was a very opportunistic deal. Are you on the lookout for other such opportunities or did this one merely present itself to you as an offer you couldn't refuse?
Anyone who sees a setback as a total failure would do well to consider the following:
https://youtu.be/9vJRopau0g0?t=12m44s
Yup, and his other posts on different boards are all the same copy and pasted crap.
I took a look at the other board and see AlrightyThen is posting there too. I remember him posting on here recently, and unless I'm getting mixed up, he seemed to be one of the many that sprung up spouting rubbish. I tried finding one of the posts to verify before making that claim but couldn't find them in among the countless posts he's been making on various shares.
Donotpanic's desperate spamming coupled with the above seem like warning signs to me. It's a shame really, it may be a perfectly good company but this type of behaviour raises some suspicions.
Titd, if you don't give 2 then why even comment on it? I'm not gloating, as I pointed out I'm still sitting on a loss myself. Not trying to rub it in, brombarb mentioned it would have been a good trading opportunity so I thought I'd share my experience, especially since it's my first time "trading". And yes, I'm quite happy with the result. Perhaps instead of being bitter about what others post on here you could try being happy for your fellow investors when something works out for them. We're all in this together after all. Beginning to remember why I don't generally post on here...
It was a good opportunity for trading indeed - I've always fancied trying it but never had the cojones!
Until now, that is. I sold yesterday on the assumption of a retrace following the raise we had after the new JV announcement. I sold the lot at 1.7373 and bought back in today at 1.4167.
Added a significant sum to my holding, and brought my average down to below 2p from 2.35p. I'm still obviously sitting on a paper loss at the moment, but it won't have to go so far till my break even point, and will make more profit when this gets to wherever it is going.
I've got to say though, it wasn't fun being out! Trading seems easy in hindsight after a rise/fall but in reality I was on the edge of my seat the whole time I was out. Trading definitely isn't for the faint-hearted!
Glad to hear it. That's the way it should always work - it's a shame it's not always the case on here. I think that's the main reason why I posted so rarely during my time on here until very recently. I read daily but didn't want to get drawn into the nasty squabbles and degenerative bickering that is so often seen.
Good luck to you too - I know you're not invested here at the moment, but I wish you luck wherever you may need it.
Hmmm, thanks for the well constructed reply.
The phrase may not be yours, but it's not mine either - I perhaps paraphrased but it's a thought expressed by several posters this morning. By "all this speculation" I was referring collectively, not only to you- apologies that I didn't make this clear. It did seem to me that this is what you were getting at, or more simply and accurately, stating you belief that this good news announcement was a sign of bad news elsewhere. Perhaps not to "soften" it, but nonetheless that this good news indicates bad news elsewhere. Which just doesn't make sense to me.
I do take your point that perhaps he could have started thinking about this after the first flowback attempt. Which helps me understand your reasoning. But I think that he's just always on the lookout for a good deal that will add value and prove accretive to the company.
I can't condemn you for trying to be objective. I'm sorry if my post seemed like a bit of an attack. But I'm glad that this has been a constructive dialogue, and I understand now where you were coming from, so thank's for explaining.
Haha Brombarb, I feel like young Luke Skywalker and you are Yoda. I don't mean you're small green and wrinkly (!), just that you answered my question with a piece of crystalising philosophical wisdom!
Very true it is, yes.
cd66beta, yes that is a good point. If they thought there were going to be problems with IW2, they wouldn't just abandon the huge prize, they would be setting aside more cash for further engineering and tweaking to get the well to flow.
I've been out since lunch time and am just home, catching up on the days postings but it seems like half of it is repeats of stuff that was asked and answered already last night/this morning. I've been awake for about 27 hours so far so I don't think I'll read much more of it....