Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
@EVB, you're assuming they will IPO....it's one of a few options available to them, which one gets triggered is the one where they see most value. They can't make an informed decision without the PFS. So lets see, interesting times.
@Bannor, I've posted this numerous times, but it's the answer....
"In 2017 KM approached II's, Brokers and MM's seeking a better reflection of our worth, he was told we are an investment company and are valued so, i.e. equity stakes in EMH and BCN etc. KM argued that he could justify more through our JV's via their NPV's, he was told we are not the owner / operator of said JV's and the market cap of the owners of the JV's didn't justify a better valuation for us.
Now Amapa where we are a minority JV owner and a 50/50 operator. Is this strategy enough for the market to re-rate us..."
Based on the reaction to our 20% then increase to 27%???
Yet still people are assigning values as if we were a miner, producer, explorer, owner operator. It's how we got into trouble first time around with Sonora ;-)
Listen to KM's rationale of an IPO regarding valuation of Amapa to us...
https://youtu.be/cu1u90A2BDA?t=1720
@Huinhwa....KM as recently as April (not February) said PFS due tail end of July...
https://youtu.be/sObtjFVtXjs?t=569
One of the reasons for the delayed PFS was due to a legislation change in February re. dam closures, did he not know this in April?
And if your stating a PPT as factual, check out this PPT from 2 years ago...
https://drive.google.com/file/d/10UegJmBHIqfu4y5AYUGTbEHoo5eBX5oK/view?usp=sharing
Point being, things can and often do change.
EMH still haven't produced a DFS five years after completing their PFS lol.
Lol @EVB, "It really makes no sense to value the company based on book value on the balance sheet as of 6 months ago and then update the EMH price, totally ignore the £4m raised and the several million added with the HAS / Evergreen deals."
It's how the book value would look today, not 6 months ago, which is why EMH is mark to market and the private JV's are rough cost values. The £4M raised is split between the cost value attributed to Amapa and cash. I excluded LT/LS and HAS because we ain't got them yet ;-)
The most pessimistic valuation method to use as an investment company would be the balance sheet...i.e. LT/LS was 800k, HAS was 900k.
So..
EMH £6M
Amapa £6M
Sonora £3M
Cash £2M
Public Equity £0.5M
Deals with HAS and Evergreen won't be on the balance sheet yet.
Gives a figure of £17.5M or 9.87p. Pretty close to the current sp eh!
Lol @Obs, I'd expect that kind of communication from an Owner /Operator not an Investment Company ;-)
That said DL was king of promoting from a weak minority JV shareholders position. Perhaps KM has learned a bit lol.
Though he did give away in an interview that we have off takers lined up once we can prove we can ship.
lol @Obs, again, it's not what I like...it's what was said ;-)
Actually with a date, traders would have been building positions (moving the sp)....They buy the rumour / sell the news don't you know ;-)
On a serious note though, it could be anytime for the MRE, but I'm going for PFS end of July lol.
Did we skip the promised Scoping study to go straight to PFS?