Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Wealth is relative to the individual. Someone on £200k a year who spends every penny on worthless stuff isnt very wealthy imo. They will remain a slave to their job until the day they retire at 65/70. Someone on £20k a year who puts £2/3k a side for growth in sensible investments will, in time, generate wealth allowing them to retire a wealthier person.
Ive got mates who spend their salaries on "look at me" purchases. I am quite the opposite but feel comfortable knowing i am generating wealth. I earn reasonably well in comparison, but put most of it aside as i always have done. So my lifestyle isnt fancy, but it doesnt cost me much either. In the end of the day i am building for a better future, not a better today
The market conditions are perfect for MODE to prosper. It has a great app and takes a competitive commission. Users of the app, for BTC purposes, should be very happy.
The next step is spreading the word. The ARB and MODE BB are aware of MODE, but that is a very very small percentage of total bitcoin exposed individuals. Word of mouth will help, but we really need MODE to start shouting from the rooftops to get the mass market taking note.
Any premier league season ticket holder (or perhaps even arm chair fan) sees E Toro advertised on the hoardings and i have also seen some youtube/tv/radio adverts that help make E Toro a relative household name. If you are new to crypto you will probably use them.
We need to get ourselves in that position. At the moment we have a very good product but a niche user base. It would be nice to get an update on how they intend on promoting the app.
The business merchant stuff will sell itself in time, but we need the BTC punters coming our way to make MODE the behemouth it has the potential to be
Hi all, relatively new to MODE having bought in back in early January in the 60's. I have topped up since in the 40's and so have a decent average for what may lie in wait.
From what i have read MODE makes most of it's money from a transaction commission. So, from that perspective the price of BTC isnt too relevant. Is someone buys £1k of BTC it doesnt matter if BTC is worth £1 or £1m. We get a 1% slice of £1k.
Obviously, a higher BTC price means a greater slice when people sell (not to mention our BTC reserves) but i dont think a BTC rise or collapse means as much to us as the volume of transactions do.
MODE will prosper from high volatility. With BTC rising i suppose a lot of new punters will want in, then when it falls they will want out. MODE wins either way.
We probably wont see punters buying entire bitcoins (average age of investors is apparently sub 30, i read somewhere), with smaller transactions of say £100-£1k. The more the merrier. A higher BTC price will help but volatility is the winner as weak hands trade in and trade out
I would imagine everything they have done is sailing, just about, within the law. The question will concern whether there was intent to defraud, or, whether they entered into certain agreements with knowledge of the end game. If that can be proven then i would imagine there will be grounds for prosecution. If DS has done this before, as has been suggested, then presumably there are loopholes being exploited. I dont know the history but i have lost money and want to see any wrong doing being punished
The fact the BOD thought it a good idea to remove the conversion option with greencastle is very suspicious, especially considering what has happened in the weeks since. I cant say that this is acting in the shareholders best interest. ICON could have converted to approx 9% (exact never specified) of greencastle, who own JOE. Why wouldnt the BOD want ICON to have an equity stake? The trade off? Oh ye, an extra £25k per month, or whatever it was, with the contract being ripped up a month or so later. Very suspicious
I bought in this morning following research on the company. Lots of potential. We have been told to expect the android app during the first week of February, which is this week.
An android app will increase the reach of MODE to far more people and should see the takeup increase significantly. We await an update, which i assume will be via an RNS
For any investor this comes as an expensive lesson. Always be warry of a company where the shareholders are not willing to invest their own money. Their views are not aligned with the shareholder and they are only in it for the salary. If a director isnt a shareholder it means they will happily dilute at no loss to themselves. Whether the business is a success or not doesnt matter to them too much, at least not from a capital growth perspective.
I have learned this lesson.
I am sure greencastle will appoint the now unemployed former BOD of ICON.
I wrote this investment off months ago, so all i can do is laugh. The reality is the shareholders have been utterly screwed over. For many, this outcome was on the wall from the beginning. I feel sorry for anyone who has lost a lot of money in this
I think that the 2021 target is very very achieveable. As others have said it is Q4 2020 x4 = estimate 2021. Throughout 2020 DVRG (SKIN) gained more and more customers to the extent that we now have 18 of the top 20 skincare brands as customers. This will have grown throughout 2020 culminating in q4 seeing the largest revenue. Assuming no customers are lost, the 2021 target is simply based on a static 2021, no growth, just a year worth of q4 2020.
I believe modern water has also achieved higher revenues historically, as well as only having been part of DVRG since November 2020
I think it is quite easy to see revenues beating 2021 target based on continued operations alone (from labskin and modern water growth). However, the covid angle, if successful, will blow the revenue target out of the water. We also have skin trust etc
If final 2021 revenue is "only" £10m then it will be disappointing in my opinion. Personally i think GB knows there is a good chance of smashing that target. Under promise, over deliver.
"What is mass spectrometry
Typically, mass spectrometers can be used to identify unknown compounds via molecular weight determination, to quantify known compounds, and to determine structure and chemical properties of molecules."
I can see this being of great use in the water monitoring process, if of course GB has identified MSYS to be a new takeover target a la MWG. Like was the case with MWG, the market cap is on the floor, but the tech could be a major stand out performer, in the right hands, and when used alongside the right tech. Exciting
Thanks Albert, i am looking forward to the journey ahead. I will look to top up in the near future, but it doesnt look like i will get anywhere near my buy in, let alone cheaper! (Not that that's a bad thing!)
The daily youtube videos by (name escapes me) are very insightful, and as others have mentioned, helps draw attention to the bargain that ARB is vs the competition overseas
Hi all, I bought into ARB on Monday following the small pull back from 15.5p. I got a buy price of 14.77p, which felt decent at that time. It continued to fall to 13.6p, so naturally rued my timings a little, but i could never have imagined 18p + (at one point today) within the next two days. I feel the timing has been pretty good, but i have been watching since the 6p days, so hesitancy certainly hasnt helped me!
A mate of mine turned my attention to BTC. He holds directly through etoro, but i wanted exposure in my ISA, which bought me to ARB. Given the MCAP of miners in Canada i feel we are massively undervalued, and this is at current BTC prices. I hear a lot of £1m predictions for BTC over the next 5 years or so. If we achieve that then fantastic, but even if it falls short to only £100k i wouldnt compain! I dont know too much about the basis of these predictions, but felt i needed some exposure in my portfolio, so i am pleased to be onboard!
Merry Christmas, and here's to a super prosperous 2021!
Pre JOE turnover of over £100k isnt too bad, considering is was £2.5k to 31 December.
So, existing operations (GSN, TLE etc) has generated about £105k. And only GSN was "live" for the whole period. Not too bad. I was fearing £10k!
I posted only yesterday that the loan conversion opened up the potential for ICON to own around 13/14% in JOE. This has since been removed... literally the next day... someone reading the board and remembered the clause... quickly revoke it... (tin hats and all that!)
What do we get in exchange? An extra £15k per month, £180k per year.
What is better? Right now, probably the £180k per year. However, if JOE becomes the behemouth JQ thinks it can then we wont benefit from this anymore.
We do still have the 25% of profits, but this is based on certain unknown revenue and profit targets being met. If these targets are unobtainable then it doesnt mean much.
I dont feel that, long term, the adjustments will benefit us as a company. I supposed £180k in perpetuity isnt bad, and we will be getting £1m cash repaid within the next 21 months or so.
Thanks for the info tucky,
Assuming a forex rate of 1.14 £/€, €10,500,00 would equate to £9,210,000
If ICON were to convert the loan to equity then the entire £1m would become equity. At a 20% discount the investment would effectively be £1,250,000 - 20% discount on this would be the £1,000,000 investment.
So, £1,250,000 of a total cost of £9,210,000 would give ICON an equity stake of 13.5%
We also have £1.2m per year, plus a "bonus" of 25% of all profits provided revenue and profits of £x are met.
Seems like this could be a very lucrative arrangement for ICON, provided JOE is as succsssful as they think it can be. The arrangement with the sports venture will only boost revenues for JOE, plus there is the ICON-generated £150k from earlier in the year and £750k recently. All for JOE, of course, but hopefully this will be of tangible benefit to ICON.
I can only imagine that they wouldnt convert the loan to equity too soon as they need to ascertain whether ICON as a business will require the cashflow that repaying the loan would bring. Hopefully they wont need the cash from the loan, certainly when considering JQ's optimism of profitability by November
Hi, there are some very knowledgable posters on here and some have been very helpful to the uninitiated (such as myself!). I have some questions that i would be grateful if you could clear up for me:
We "know" we have oil at WN, but the general concerns surround whether it will flow commercially. I am probably very nieve with my initial views, but:
If oil is there can't it just be pumped to the surface? Or, Is it potentially too thick for pumping/using a nodding donkey?
Will there be a pool of oil sat in a cavern of sorts, or will it be saturating a mesh of rock and mud?
My questions are probably very amateur but i would appreciate some responses on this. Thanks in advance
Very good point oilnovice. Although, for me, i am interested on the revenues to June 2020 as it will show the impact of the existing ventures, including GSN, TLE and the "supermarket deal", which were owned and in use for a number of months prior to the accounting year end or June 2020.
If revenue from these sources is poor it will be a sign that JOE is the big hitter, with little else at this moment. So, hopefully revenues to June 2020 show some headway having been made by the other avenues. 6 monthly revenue to December 2019 was only £2,500, with total liabilities of £2.3m. At this moment we weren't really able to judge ICON from a performance perspective as the new business had only just started.
When the June 2020 results are released i will be looking for a substantial increase in revenue (albeit no profit) and a significant dent to the total liabilities. If the business has made positive progress in both camps then i will be quietly pleased.
The financing of the company has come at the expense of shareholders with the insane dilution. The only positive of this is that ICON should not have much in the way of debt. My original investment is pretty much worthless. It stings, of course, but i have followed the ICON story and if there are shoots of recovery i will happily average down, but the JOE conversion and June 2020 results will be big indicators to me
In the interview from July when the JOE media deal was announced JQ states that the profit share is where ICON see the true potential value, not the £100k per month (£1.2m over a year). This suggests to me they are confident they can make JOE profitable and then reap the rewards.
They have already aqcuired additional JOE contracts close to £1m, which is a 10% growth on the historic JOE revenues of £10m. Assuming the original revenue's are reoccuring then the business is seeing substantial growth after only 3 months under ICON's guidance. Of course, the management fee to ICON adds costs of £1.2m per year, but hopefully since the takeover JOE has been stripped down cost wise, allowing for a leaner business. With the growth in revenue and expected reduced costs, ICON seem likely to have covered their own cost to JOE already. Anything from this point onwards should see an increment to the bottom line of JOE.
In the same interview from July JQ stated he expects ICON to be profitable within 3 months. I assume he means that by November he expects monthly revenue to exceed monthly costs, as opposed to ICON generating a profit for the year
The financial statements, when released, won't show a profit, but ICON's turnover will be key. If the equity stake in JOE comes to fruition then there will be a significant boost to the prospects of the company, imo
I posted a few days ago with a degree of scepticism over the JOE deal, specifically the £1m loan to help greencastle aquire JOE. However, i have re-read the RNS concerning the loan and i have extracted the following:
"As part of negotiating the management services agreement, the Company has entered into a £1 million loan agreement with Greencastle Capital. The loan is repayable within one year, or can, at the sole discretion and election of the Company, be converted into equity in the JOE media Business using a valuation which is a 20% discount to the enterprise value of the JOE media Business as acquired by Greencastle Capital."
So, it looks as if we CAN convert the loan into JOE equity. It also looks as if ICON can decide to convert it. I didnt see this originally. This is promising news. It also looks as if ICON's ownership % would be based on the original purchase price of JOE. So, for example, if greencastle bought JOE for £10m then our £1m would equate to an approx 12 % equity stake (when factoring in the 20% discount). This is good news as no matter how large JOE becomes up until conversion date, our equity share is based on acquisition value, not current market value.
The lower greencastle acquired JOE for, the better for ICON as it means the equity share is higher. For me, the BOD need to convert the loan. An equity stake in a growing JOE brand is better than £1m cash repaid.
I have a feeling the conversion is likely, and thus ICON have issued RNS re the promotion of deals for JOE as they will actually benefit us if we convert. If we convert then the "25% above a revenue/profit target" will have a lot less relevance as we will be entitled to a given % of ANY profit courtesy of our equity stake.
I now feel a lot more optimistic about the JOE set up than i did. I welcome any counter arguements in case i have missed anything
It is 25% of profits depending on whether revenue and profit targets are met. I am pretty sure we dont have an equity stake in JOE, but we did loan greencastle the money to buy JOE. Why couldnt we just buy £1m of equity in JOE? That would have been great. Instead, we are waiting for the loan repayment and are then relying on a contractual profit share, when it could have been an equity profit share.
Our management charge is also going to dent the profits in JOE meaning JOE needs to be even more profitable. It all just seems a little odd to me. No directors buying in. DS pulling strings - who actually does own greencastle, and thus JOE