Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Did anyone get a chance to attend the AGM either in person or Virtually? Just interested if anyone managed to fire some pointy questions to BOD on the current performance of the company & their inability to deliver on promises...If not then maybe having your AGM in the middle of bum f*ck nowhere is a good thing when you want to dodge pointed questions from investors...Spainish? anyone else?
Sooty, Fair point and a nice post. The problem with a lot of posters on this board are they
Blatantly ramp the share based on little evidence, or facts & a lot of BS,
When other people try to temper these outrageous claims by posting more factual & realistic points of view these people get antagonistic & attack them for daring to have a different opinion than themselves....Little wonder then that they get their noses rubbed in their own crap when they get it spectacularly wrong as they are revealed for what they are
Some naïve people genuinely believed these rampers..and have unfortunately jumped in based on reading some of this crap & unfortunately have lost money....Most likely bought some of the shares being sold quietly by said individuals.
I don't need to name names you already know who these people are.
Hi Andy, I've been with this share for 5 years plus...Bought in 2012 & put the shares in the bottom drawer. Probs should have sold when they hit 38p but hey ho. I am serious when I say this, MATAD is delinquent, bordering on negligent in their ability to produce the goods...Every promise they make they break.....I thought things would change with Mike at the helm but even he under delivers! Astonishing for a man of his years of experience in the game. Simply take everything they say with a large dose of salt
Lets see your positive spin on this now......SP will test 3.00p today IMHO...& if WH doesn't go ahead (& it wont) then, as I said on a previous occasion, this will be a long cold winter for the SP...(expect it to test 1.5p).....& Guess what...MATD will be looking for $$ via a CR to complete their program or they will abandon prospects if they cant get the dosh...A triple whammy......At least they are consistent in being disappointing
Manro - I have to say I admire your blind faith in this company (You & Mr P) however, given this company's inability to update the market or keep its promises to commitments (The past few weeks are clear evidence of this) here's my prediction for the coming weeks;
No RNS tomorrow - They should follow the agenda for the AGM & not use this forum to update the market on operations unless the agenda has an operational update item listed (You may be lucky and get a "we will update the market in the coming days" statement).
SL - Some oil shows but not commercial.....Duster
WH - Due to the upcoming drill season close this will be delayed (Look at temps towards the middle & end of Oct & tell me you would run a remote rig in these conditions
Cash burn - Significant - Leading to the potential for more cap raising to complete their program.
Been here too long to be hopeful that these idiots can get their Sheet together
Out
SL a duster with no chance of drilling WH at this late stage of the season then the SP = 3p or lower.
SL shows oil then depending on the reserve estimates (which we may not get a full picture of just yet) SP will go anywhere from 12p - 25p....Anyone expecting this to go to triple figures (ie pounds) is probably overly optimistic or just MrP
I doubt we'll be getting an RNS prior to the AGM. This company cannot organise a ****-up in a brewery when it comes to keeping promises & keeping the market informed of updates....But hey keep up the blind faith...rather then me bursting your bubble I'll let Mike Buck do that for you
Doubt they will be able to drill WH this year...It's simply getting too late in the season for them to finalise SL & then remobilise before the end of September.
Average temps in Mongolia in Oct are 0 degrees and in November -15 degrees..Not sure how they are going to keep the drilling fluid from freezing in these temps.
I'm also am highly sceptical of the assumed time it will take to drill WH...Lets say they remobilise by early October & commence drilling (assume 40 days best case / 60 days worse case) either scenario sees you working the business end of the drilling in Mid-November / Mid-Dec when temps are too cold....I simply cant see them working a miracle to achieve this
Prepare to be disappointed by the next RNS
So only a two well program for this year as I predicted a little while ago. I thought the new management were different from the previous load of idiots...maybe I was wrong. I'l be surprised if they can even get Wild Horse completed before winter comes. If they start WH in early October & it takes 60 days to complete they will finish in early December....Think about that....Cant see them doing it TBH
And in what is arguably a highly speculative drill an equal chance of 0MMBO which is probably the reason why the share price is still below 10p.
Long gone are the days when this SP can run to double & triple digits on the mere hint of any news...The legacy of previous management & their inability to run the organisation in the past has cast a dark shadow over this company.
Lets hope there is some good news out of at least one of these targets - Although I highly doubt they will achieve their ambitious drill campaign....I'll call it now.... Snow Leopard & Wild Horse will be all they achieve before winter sets in.....If both of these are dusters then it will be a pretty cold winter for this share
Spainish....I tend to agree with your synopsis as I have held MATD for a number of years and seen the highs & lows along the way. What I would add though is this story has recently become more compelling as real progress is being made to execute a speculative drill program (at least this is what they tell us). Regarding Snow leopard being dry.....I too would expect some prospects to come up dry in what is a highly speculative acreage however, this is the risk the company is taking - as well as investors. Remember there are still other prospects to fuel the appetite of existing & new investors which may lead to a further inflation in the SP along the way... Ultimately though it depends on each investors strategy...Are you looking to hold Long term / medium term or short term and if so what is your risk reward threshold. All I can say is good luck to everyone
My guess is You wont see anything out of MATD for another couple of weeks in terms of Op updates....Last briefing was mid April and they advised they were undertaking an aggressive programme...Next briefing should hopefully be around Late May early June advising that they are looking spud SL & WH in early July...They have a lot of work to do not least mobilise a drill rig....See extract below Fingers crossed we get the update this month - GLTAH "As previously reported, the contracted Sinopec Rig 4518 is in Mongolia and has been certified to international standards. Drilling consumables and long-lead items including casing and wellhead are also now in Mongolia and are ready to be mobilised to site. Plans are for site construction to commence in May 2018 with rig mobilisation commencing once the Snow Leopard location has been completed."
Looking again at the last op update - Snow Leopard to be drilled in Q2....lets say June 30th......and 70 days after that move on to Wild Horse....that would be early September....Are they planning to drill into Autumn for the remainder of the targets?...If they are they may come up against challenging weather....More likely they will be drilling targets simultaneously....as they mentioned tendering for drill of block XX Other things to note...... Drill contractors yet to be confirmed for block XX Permits outstanding for snow leopard and wild horse Snow leopard to cost $7m.....if they raised $16m then this is blowing 1/2 that kitty...not sure what the other targets are going to cost or how funded if they are all going to cost around the same? Sure is a lot of ground to cover Any one care to enlighten me?