Member Info for Dibs61

Dug - no biggie It’s simply because the UT will default as the mid price until the next A trade is printed. The most recent A trade will normally be quoted as the mid price. SETS weirdness!

The true mid price currently is midway between the bid and the ask ie.26.6p

So technically we are ‘up’ 0.3p!

Bilbo - not my claim but ITM’s themselves. To build on that I think they specifically mean using the particular technology PEM. I think CWR are trying to move into electrolysers but they will be using different technology.

Yes and the SP has been consolidating around this level for a while now so hopefully a base to build from. The New Year should see the market beginning to anticipate the January report.

This has to be great news for ITM as the UK’s only green hydrogen electrolyser manufacturer.

A large bulk of the current valuation is cash!

This has to be a buy for 2024.

Most investors and traders on AIM do not have patience.

Agreed on your points and we need the kind of news that will provide a solid foundation under a higher SP.

Not just news that will cause a temporary spike that can be sold into by traders.

Just that kind of news Would be a positive trading update with growing sales and revenues of CIRT and PSE. The CEO said he ‘couldn’t wait’ to provide a sales update in January back in May!

Xel

“Why would someone own 83.33% of the company demand only 50% of the profit? Why not 83.33%?”

Because they don’t yet own 83% of the company! It’s a projected hypothetical future valuation!

Jeeeeez hard work

Just made my biggest individual top up yet.

12-Dec-23 15:34:46 26.775 36,173 9,685 O

Now holding a total of 300k shares. I like nice even numbers.

Dug - excellent research thanks!

Xel123 - actually I’m not speculating anything. I am quoting from the factual information provided by the company themselves.

10p price prior to the licence cancellation is absolutely irrelevant and in any case the market did not know about the JV. The JV as it stands does not look great value for shareholders but who knows maybe Greg will pull a rabbit out of the hat. I personally believe they took it because it was either the best deal on the table or the only deal.

And just because II’s pay 4.25 does not provide any price guarantee whatsoever they frequently lose money on investments too!

Polio

“They aren’t going to let the company go for 5p that’s for sure!”

No? Remember shareholders own the company and LB will be a majority shareholder.

“So you are saying £13 million valuation lol”

No I am not and all you are doing is showing your lack of understanding of what I’m saying.

The company is currently valued @ £13m yes. But you must add on the $81m of future shares to be issued to LB. Thus the future, if you like, ‘projected’ valuation for CMET is more like £78m.

$81m convert to £ is circa £65m so £13m + £65m = £78m

Indeed the market is almost certainly already valuing the company in this way which is why you are not seeing big share price rises when you expect to!

Your other comment about what is in the ground is currently irrelevant because we just don’t know.

Yes I’m wondering why the SP is down nearly 12%?

On a slightly different tack could a Labour Government signal an upturn in ITM’s prospects?

Xel123 - oh dear you are just not paying any attention are you and living in a Walter Mitty world.

Perhaps you simply don’t understand.

LB Group do NOT have to ‘demand’ anything. The JV agreement, as it stands, ensures they will become majority shareholders here within a year. The ONLY thing that can possibly avoid that outcome is if GM can achieve a huge increase in the SP prior to or perhaps during the dilution process. But since the market is completely aware of what is coming (hence the reluctance of the SP to rise) that seems to me to be extremely unlikely.

And to be clear I’m not saying that long term this can’t be a decent investment. But it is not going to be the multi bagger that we once thought it could be.

My opinion fwiw it’s clear to me now that LB Group will swallow this up easily without having to bid it up because they will be majority shareholders. And they will get it way beneath the kind of valuations imagined here. The $81m of funding is effectively them already buying up a very large chunk of the company, and for what price? 4p? 5p? Maybe a bit more but no multi bagging.

Sebo10 - I do hope you are not suggesting I am misinforming anyone?

Yes, absolutely they will get 50% of the JV profits. But as regards to their $81m funding it is NOT free cash they are handing to CMET. But don’t believe me just read the words in the RNS: quote

“All funding to be by way of equity on a staged basis”

That seems very straightforward and simple to understand. They will give CMET chunks of cash at specific stages of the project to fund it in exchange for shares. Shares are equity.

Basically another way of putting it is staged placements of shares.

This has huge implications for the current and future valuation of the company. It means huge dilution of the share capital. Of course we don’t know what price LB will pay for their shares.

What I do note is that Greg Martyr has been very keen to tell us they will be fully funded for project development but not so keen to point out that the funding is not ‘free money’. That said the information is all in the RNS so I am not suggesting we have been misled in any way.

It’s just what they say in interviews and what they omit. ;)

Polio - sorry for my tone I did sound a bit abrupt and overbearing.

But yes that is the truth of the matter. You know what they say, there’s no such thing as a free lunch or a free ticket in life…..

A BIG part of investing, particularly on AIM, is about being able to read and FULLY understand an RNS correctly. And not just cherry pick the nice bits the CEO emphasises ;)

Polio - ok re-read the announcement dated 9 May 2023 and tell me where it says the word ‘equity’

That will give you your answer about LB Group getting shares in CMET!!

They’re going to be getting $81m worth of shares ;)

Polio/xel123 - you guys make me laugh…. Hilarious

The answer might lie in your user name! 😂

PrivateRyan - hold on ‘Poor Tom’! Geee whizz Oh my goodness you have skewed sympathies. Save your tears for shareholders not the guy who milks a handsome wedge out of this company and has NEVER put his hand in his pocket to buy ONE SINGLE SHARE.

Early January Sales here. Bargain basement stuff!

Seriously, fill your boots.