Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I pulled out Friday at a near 15k loss( could’ve been worse). I can honestly say if I had been fed the same RNSs especially regarding the RCF (committed)I would have made the same decisions.Good luck to the long term sufferers today ,especially Pearls who never gave up.Also @ sain I’ve enjoyed the conversation,one thing I’ve realized is spending too much time on these bbs ,it’s time to get back to daily life.I have no doubt Debs will be successful (with a new Bod) in the future.
They might squeeze another 20M out of him for MDN
Morning Smartie to answer your question yes I have, I’m more interested to know why you was quick to question the source of the guardian article but quite happily promote the sky news one.Incidently I hate both of them and none of us will truly know until we see an rns. I won’t the keep you any longer as I suspect you need to get back to your trading today;)
The committed RCF could be maxed out to achieve the 200M. @3% (same as MA) you’re looking at yearly payment of 15.6M per year.With the implementation of a cva you’re looking at yearly profits of 60-100M within a year easy enough money to cover the loans.Regarding bonds they are not payable for another 2yrs 5 months which if necessary the sale of MDN could be sold without pressure to do so.i don’t see any reason for any D/E at present as I’ve always been led to believe we have an RCF (see jan10th trading update RNS). I will say however the creditors will want someD/E ,I disagree with this as they would be effectively pulling the rug on the RCF ,why would they take away an already in place 200M just to then hand it back on favourble terms from themselves other than greed. As far as I’m concerned we already have the funds to get Debs back on track with the use of the promised RCF , which unlike bonds doesn’t have to be paid back on a fixed date,the clue is in the letter R(revolving) it has the ability to be renegotiated.
https://www.theguardian.com/business/debenhams
They’re saying there’s sufficient funds to meet the rental payments
@smartie with that logic ,if we were about to be wiped I would of thought the injection of 150M still gives a chance of turning the business around,it’s a helluva lot of money and would solve cash flow problems also give MA an opportunity to activate a cva
The sporting goods chain extended its critique on Thursday, saying it will hold Debenhams management "personally responsible and liable for any mismanagement, deception, and breach of duties which leads to the shareholders being wiped out."
"We are giving our word to all Debenhams shareholders that we will leave no stone unturned in pursuing them," the email said.
The way he talks is all about protecting us , so why ain’t the sp positive
No mention also of how the bods refinancing is going, we were led to believe it was at an advanced stage.
From last years leaked letter quote “it’s not in our interest to see it fail” hmmm it seems with such an underwhelming reaction in the sp it looks like investors are not convinced of his intentions
From the past 6 months behavior I’d say it’s like the fox guarding the henhouse, we all know the financial position but he has now a great opportunity through the media to talk about debs potential,he could start by saying he’s impressed with the digital side which outperferformed his own company as well as Next regarding on line traffic over the Xmas period.An interview like that might encourage new customers to take a look and also might win shareholders over regarding his intentions.
@sain as you said in an earlier post if not now when?
@pokerchips by Friday I’m all out of patience with this , but GL to everybody holding.
Seems to be no logic here , HoF fell into Administration after initiating a Cva , debt was over 1 billion of which 500M was owed to suppliers. I’ve never heard Debs not paying suppliers and up until the last RNS we’ve been led to believe it had maintained profitability admittedly a very small one. I’m gonna give it to Friday if no Rns by then I’ll be out ,I think for me this has just dragged on to long with shareholders being left in the dark.The bod are very confident or very naive because at some point this constant negativity will impact the brand and can’t be much fun for the employees with all the uncertainty hanging over them
@smartie you’ve answered your own questions “rents” I read an article last year between Jan -September last year their top five landlords (intu,Hammerson) Debs took 59M in the shops the landlords rent out of that was 56M . Take away 50 unprofitable stores and resize existing and it doesn’t take long to realize you have a very profitable Buisness. The only reason it’s not happened is legally they can’t get out of these onerous lease commitments,the crazy thing is there is a way out through a cva but you have to become a loss making business to obtain it. Even MA mentions onerous leases in early SPD RNSs , difference is he had deep pockets but more importantly SPDs Buisness model of pile them high wasn’t impacted greatly by the rise of online retailers.
I also think SPD will be better off with Debs in the group,it would create 5-6B In revenue and endless synergies, without it SPD needs to be careful with a spiraling debt and throwing good money after bad since the addition of HoF to its portfolio.Bring in Debs and it becomes a powerhouse in retail right across the spectrum JMHO. Will it become reality I have no idea
I don’t believe a pre packs on the cards it’s a last resort and a subtle reminder to MA. I still awaite a CVA and debt refinancing however it is quiet so maybe they’re thrashing out their differences.I remember Ian Cheshire saying it all changed when MA decided to try and revive a retail rival.
@smartie the pre pack Admin is a last resort , the reason it’s become news its a way of saying to MA if we end up there you ain’t buying it. As far as I know with a pre pack shareholders are not consulted which means MA loses his shares along with us and there’s nothing he can do about it.Hes trying everything to get his foot in the door to counteract this because unlike normal Admin he won’t get a chance to bid that’s why he’s thrown his toys out the pram.Im no lover of either or the parties but it’s quite obvious now buying HoF and trashing Debs publicly at every opportunity MA was doing everything he could to pull debs into Admin for him to pick up the bones, he now realizes that ain’t happening and he’s pissed.
If an Rns doesn’t come by 7.15 I’m gonna assume the 2 parties are still talking even if it’s through gritted teeth :). It’s been extremely quiet since last Friday,lots of noise from the media but nothing from the 2 parties involved.
@tu-chuzey Agree ,no RNS I can’t remember lately that type of amount being sold ,just think I need something more concrete.Have to say even the website looks poor