Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Yes the JV will need to repay it, unless they have an option to convert into shares to increase their holding.
I expect a significant proportion of the funds to come from US grants though, so may not that significant contribution from the JV
Green transformation costs are overexaggerated. Costs will be passed on to the consumer and/or subsidised by the governments.
Wizz may raise more funds but not at £10 level - they would be a takeover target if it ever went that low. However, I do expect performance to improve, in spite of upcoming weak quarters. Wizz fuel hedging policy was a disaster and they got badly burned but now they have this (hopefully) rectified, it should see profits improve.
Ukraine war won't last more than 1 more year.
I wouldn't be surprised to see the SP drop further in the near term - £18 perhaps. I think global economic concerns will hit overall shares in the coming months, and there are a couple of shorts here. I am watching with interest, looking to add in due course
Not sure………but the RNS about the Group FD leaving with immediate effect is concerning. That can only mean gross misconduct. I doubt we’ll ever find out the reasons why but I hope nothing which will materially impact VELs future
I welcome the board appointments, jury will determine in due course but on the face of it their experience and connections should be of significant benefit to RKH.
John Summers and Keith Lough will not be missed, the bottom feeding trough munchers. They became an old boys club and Lough absolutely did not act independently. Fresh blood is exactly what the board requires to drive forward the project
Marshall Wace has consistently been increasing their short in Wizz, most recently to 1.21% on 2nd August. Their Asian fund has a further 0.5% short on Wizz. Not hugely significant but interesting all the same. It's getting close to the level I would consider buying more.
You might not get what you want at 40p because it’s limited
Long term this will be positive and needed, short term it will subdue the SP and also make it less spiky. My average is 37p so doesn't materially affect me but I won't be buying further (only bought in a few months ago). The SP may fall below 40p so little incentive to do so
The only slight concern for me was employing plumbers to carry out repairs. I know Craig said they would review this in each geography as to what setup is most suitable but I wouldn't be particularly keen for ONDO to go down the route of employing plumbers, this becomes an expensive overhead which you need to manage. I would prefer they setup SLAs with approved organisations to manage this on ONDO's behalf
Thanks, does seem an exciting area.
We need Kitson House sale completing now, to allay near term cash flow concerns
Interesting article APUL. The debt is certainly a concern/millstone. However, the current situation also makes it more likely that Wizz Air will become a takeover target, which may prove fruitful for investors, as it would be at a premium to current SP
No they don't
This is from the year end accounts, revealed in Dec:
The Group had net assets at 31 July 2022 of £11.8 million (2021: £19.3m). Cash and cash equivalents of £5.1 million (2021: £17.1m) were improved post balance sheet by proceeds from the Placing of £5.7million and receipt of both the Sanofi milestone debtor of €3million and the prior year R&D tax credit of £2.1million.
Both cash and costs continue to be prudently and tightly managed.
These financial statements have been prepared on a going concern basis, notwithstanding a consolidated operating loss for the year ended 31 July 2022 of £10.5 million (2021: £5.9m), revenues of £2.7 million (2021: £5.6m) and net cash used in operating activities of £12.1 million (2021: £3.1m). The Directors consider this to be appropriate for the following reasons:
The Board has prepared a number of cash flow forecasts for the period to 31 July 2024. Each of these show cash resource until March 2024, being 15 months from the date of signing the financial statements.
Should the company not receive any revenues from existing or new deals in the forecast period, a cash shortfall will arise in early 2024. The Board considers they are able to take reasonable mitigating action, which includes but is not limited to a reduction in expenditure on certain discretionary research programmes to focus purely on commercialising earlier stage drug molecules, and reducing other discretionary administrative expenditure, which would enable the Group and Company to continue to operate within its existing cash resources during the forecast period without the need for additional funding.