The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Yes .. I can't stay the whole call but he is upbeat overall so far.
they have a third rig in production and an increase in drilling of 90% in december
Nope.. He is just saying that they had to go to tailings for part of the production as there was a power and spares problem with the under ground rig.. These problems have been addressed..
Not everyone is losing sight of it...I've added more despite owning a shed load already. Never thought I'd average up in this now but hey, gift horse and all that.
not me Stace, Bushy. I aint going anywhere for a good while yet :)
bye then
for info - This is what Paul wrote on Linked in about the company. Make of it what you will :
"To me when investing in healthcare, its crucial to opt for the best technology. Why?
Well typically most government & private reimbursement systems want the most effective products, provided the economics are justified. Meaning ultimately, these tend to become ‘winner takes all’ markets.
One innovative firm that fits the bill is Belluscura . A developer of Portable Oxygen Concentrators (POCs) that are transforming the treatment of COPD & other chronic respiratory conditions (see chart).
Here in 2022, #BELL sold 1,226 units (Dowgate est 2,000) of its FDA approved medical device (X-PLOR) via a range of US online, physical store & DTC channels. Providing marvellous real-life endorsements of the science.
Moreover in December, the company signed its first non US deal with MedHealth Supplies of South Africa, who have already ordered >1,000 units. Another major milestone towards fully commercialising its patented POCs across Asia, Europe & Africa – which would hypothetically more than double #BELL’s TAM within the $1.6bn global sector (+14% pa).
In fact, almost 100m people in China alone have COPD (400% higher than the US), on top of another 50m in India and 5m people in Japan.
Wrt the numbers, the shares appear to be materially undervalued too - trading at 44p (Mrkcap £54m) vs Dowgate’s 150p/share target price. Alongside sporting $1.8m of net cash as at Dec'22 vs $11.3m in June, following H2 inventory build & cashburn.
That said going forward as supply chains ease, I’d expect some of the $10.1m stock position to unwind. Plus Dowgate Capital Limited predict unit sales of 12,000 & 30,000 respectively over the next 2 years – with #BELL becoming cashflow positive in 2024, & closing Dec’23 with net debt of $7.5m. They also estimate FY22 adjusted LBITDA came in at -$6.2m, coupled with a strong opening orderbook.
Based on these projections & in the absence of any M&A, then I suspect the Board (albeit total guess-work) may seek some traditional invoice discounting, trade finance &/or top up working capital facility at some point. Reflecting the future growth trajectory & H1 launch of its next generation DISCOVR-R model. Which weighs 40% less than any comparable dual flow POC, & produces nearly 3 times the oxygen by weight than its competition.
But that’s not all.
Elsewhere, once its new Chinese contract manufacturer (re Innomax) comes on stream in Q1’23, then this should double production capacity (536 units assembled in Dec’22). Whilst equally creating opportunities to sell its POCs to the possibly 100ks of sick Covid patients, who urgently require oxygen support as the local economy reopens.
CEO Bob Rauker adding: “During the year we have enhanced our production, quality & supply chain, as we expand our distribution & geographical reach. We are very excited about the upcoming launch of the DISCOV-R, which we believe will be a tr
Apparently their cash balance 1.3m seems to be the problem but I believe they have a lot of inventory so cash wise not straight forward. Paul Hill on Vox has done the number crunching on them so worth checking him out.
who the pub man?
Nice !!
We are still churning away but at a higher level so happy with that. I think the market needs some news, I do hope that Eric ain't clustering the resource update into the Q4 update, that will make people nervous and now is the time to get something out while gold is running hot.
I ain't nervous I am frustrated Jim and there is no change from me. The funding isn't the issue for me it is the lack of comms to investors who have had to ride the tiger for a long time here. I have e-mailed them more than once and guess what? They never reply or even acknowledge receipt!
Well on the point about sales, we know they appointed a sales manager (expensive) before the first FDA approval attempt failed yet we do not know now what the marketing strategy is now? It is all well and good having a product, it is how you market it that is the key, and, to my mind at least Richard needs to communicate to the investors as a matter of urgency. Every time he has been quiet the SP has drifted lower and lower which is not in the company's best interest if, they are looking for future capital injection at any point.
I am not into this trust the board mantra that people go on about, we are eighteen months behind and we need to know what the plan is now for fast sales given the balance sheet restrictions. that's is my view anyhow.
All you have to do is ...Nothing!! let the churn happen and the RSI cool off and then we can move onward. weeks not hours here.
Dog.. if you knew anything about this share you would know that he took part in the placing a lot higher then this price.
yep that was him last seen in bidstavk,, pulling pints but clearly not making money!! LOL
It's all about having the nerve to hold on while the MMs play with their risk adverse false market strategy. I aint going anywhere but it is going to move around a lot in the short term as people bottle it on the spreads ...