Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Just looking back at this time last year to gauge what the likely running order will be on updates from the company.
Last year we got BOAGF year end results start of Feb.
A business update then end of Feb which set out the 2B Plan and included AUMs for BOAGF and PLAC and business income from PLAC (fees on AUM - which even back then was $1.1m for the 9 months of 2021). Of course we now have 6 months of the OM acquisition revenue to be included in the FY22 accounts so cashflow news should be nicely positive.
We then didn't actually see the final year end report until the end of May as the FCA's 3 month extension was in force and the auditors took that time but that's now ceased so we should see them by end of March I believe.
Then of course we've the Broker Note plus any other surprises the company have up their sleeves.
I wouldn’t bother feeding the two usual trolls on here. They don’t hold shares. They probably never have.
They seemingly exist try to cost people who have invested here money by talking down the share price and attempt to gain validity by trying to engage others in circular conversations.
Just report their posts and let the LSE admins deal with them.
Bit of game playing with the spread this morning. Anything over about 2.87p definitely a buy.
Fully expecting the Havalet acquisition to complete next week or soon the week after. Wouldn't be surprised if the company had diverted resources away from it when the Old Mutual sign-off was received from the SA regulators so would assume they'll now to be focussed back on getting that over the line before taking some well earnt rest over Christmas.
With PLAC, AILAC, BOGAF and AAACX all in place it feels like they’ve put the four cornerstones of the company into place now. It’s going to be intriguing to see what else was in the “company blueprint” and will be dropped into place (presumably within the next 12 months given the language in recent RNS) to get us up to the 2B target.
Things will start to get exciting when the company starts sharing the figures showing how the different parts of the company are coming together and proving themself more valuable than just the sums of their parts. That’s when we’ll really go through the gears.
Agreed. Given the macro situation, cost of living crisis, run-up to Christmas etc. I'm not surprised to see people taking the opportunity to bank a profit by selling into the news. No such thing as a bad profit.
However... I'm expecting a string of updates and announcements to start coming through now we've got "the big one" out of the way. We already know that the Havalet acquisition is imminent but more importantly we'll be seeing the Broker Note and projections now which will likely introduce a new set of investors to the company. We can also expect to see an update on the organic growth situation across both BOGAF, AAACX and PLAC/AILAC. Looking at the AAACX allocation figures that has broadly moved into cash now so will be moving into life settlement assets soon. The company was also quoting for $200m of new policy business back at the time of the AGM so keen to see how many of those were taken out.
"Has anyone managed to put a value on Alpha with this new acquisition?"
The Old Mutual Guernsey business was bringing in somewhere in the region of £400-600K in revenue historically I seem to recall when I last looked at their results so that will do very nicely indeed.
Yeah, that's correct. The larger acquisition is bringing in circa $370m AUM:
RNS 24/3: "The acquisition has a transaction value of ~$3.3m and includes all operations of the company, including its assets under management of approximately $370m as valued at 31 December 2021. The business is being acquired from a major international insurance group."
Then the imminent Havelet acquisition circa $9m.
I believe market regulations mean that they have to give their best estimate of timescales and sadly can't build in any fat otherwise they could be accused of "creating a false market".
So when they say "Alpha expects to complete the acquisition by 30 November 2022" we probably need to give them a few days grace either way.
Irritating but of course great that the company is moving forward. Guess we'll just have to keep the 7am alarm clock going a few days longer :)
Just reflecting on yesterday's RNS. A nice little surprise but as the company themselves said this is only a small part of their acquisition roadmap, but it does provide a new and interesting route for them to market the two Funds plus their other more bespoke options. I suspect the timing of the announcement was purely down to reporting rules whereby the acquisition had reached the point of being "all but signed" and therefore an announcement was made.
So after a bit of mild excitement, and a rise that was unsurprisingly given wider market conditions was sold into, we are back waiting for the regulatory sign-off of the much larger acquisition. But have been reminded that there is a well developed acquisition roadmap being executed in the background.
Come on Regulator... get that pen found and get signing....
Couple of buys gone through this afternoon. Don't see us retreating much further despite the delays and all the waiting.
Happy to continue to hold and be patient because:
1. Company confirmed it was already cashflow positive earlier in the year
2. I'm expecting the latest acquisition to deliver £400-500K revenue per year if my digging and guesswork as to the identity of the vendor is correct.
3. As per the previous RNS, the transitional work has already begun and the revenue is flowing so both parties view it as a done deal.
4. This revenue will be on top of the Interval Fund management revenue that will have already started (1.5% of £7m so £105K per annum)
5. The recent Half Year results also showed an extra £20m AUM the company has secured which will be bringing in fees. Expect this to accelerate now Chad is on board.
6. With the new broker announced am sure the Broker Note is locked and loaded and now waiting for regulatory sign-off on the acquisition and their sales team will be picking up the phone to their client base singing the praises of ALGW.
7. Warrant Holders still have (I believe) 12 months+ to exercise them so a source of additional funding available to the company should further acquisitions present themselves.