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No idea Finncapp, but any lower and I’ll be adding. Here’s why:
1) https://docs.google.com/spreadsheets/d/1W9Oc9CG8PQVuHaH4u0syfoDKa7GOtrPGzAkMZ8Apmwg/htmlview#gid=0
2) the last II round at 12p was made by folk with the view that the Market Cap of the company - more than twice where we are now - will substantially increase, through delivery of the (delayed, granted) profitable growth curve, all outlined here:
https://www.proactiveinvestors.co.uk/news/downloadResearchPdf/430664
20p by ‘23, still my target.
Hi AJP, yes good to know the stuff is still coming in - it will be interesting to see how much the inventory figure has gone up in the next set of numbers - along with a fair chunk of it hopefully translating into sales. On your other question, I avoid having a public view on any other posters - that’s just asking for trouble. All I would say is that anyone who is genuine and honest about declaring a position on the way up as they do it, should, in my book, be equally honest about declaring their position on the way down and why. So at some point - hopefully by ‘23 I’ll be able to say on here - as I’ve done in the past - my 20p by ‘23 has been reached and I’m taking some money off the table! Ultimately, though, it has to be the management that we believe and the long term prospects of the company, rather trusting too much what anyone on a board says.
Mikeinv - good question, I don’t have full tracking on their shipments so can’t answer that precisely, but 3 containers within in a matter of weeks still sounds pretty healthy. What I’d love to know is what 1kg of purchased Itaconic Acid translates to into Revenue $ of finished product and Kg amount of finished IA polymer product. The landed cost per Kg from China will have gone up for sure. But everyone is pretty much in that boat. I like to think given the huge amount of cereals/maize etc. (Feedstock for IA production) that the USA produces, some chemical plant there will be turning its attention to producing domestic IA sometime soon.
Been doing a little bit of digging and discovered that there have been 3 - as far as I can see - recent container shipments of Itaconic Acid received. One container on 4th October freight forwarder Expeditors International & 2 containers on 18th September freight forwarder JPAC Trading. All coming from Qingdao Kehai Biochemistry Co., Ltd.
Hi Guys the FTC sales, product management, & management team, will be pushing hard on not just this, but a wide variety of other industrial communications/RF initiatives. The senior management has a background on delivering successful sales underpinned/driven by manufacturing excellence. That translates into more new business with long standing customer relationships, of which this is one. Keep ‘em coming Richard & Team FTC.
CT You’ll find most of your answers here. Except one: where are we on the revenue growth curve timeline? But on it we are for sure.
https://www.proactiveinvestors.co.uk/news/downloadResearchPdf/430664
I’m with Chilting on this. We can wring our hands in anticipation of whether it is $3M, $3.5M, or $4M in the second half. The real question (for me) is what will it be in 5 years time. If the revenue growth curve - which we all know about - delivers before then, fine. If not, I’m happy to wait!
Nice one AJP, 43 by ‘23 has a better ring to it, you’re right! But I think I remember saying way way back on the thread I could see break even late ‘22 - which on current Gross Margins equates to ca. Revenue $8M (don’t recall exactly). The risk & FOMO on this company is how quickly they are moving along the $75M stated (from current formulations only) revenue curve. With 43p that is x6 our current market cap of £30M = £180M. If I was buying the company for £180M in 2023 I’d be looking for £20M Op. Profit/Year plus additional growth prospects (which we have) - BUT that level of profitability, whilst coming down the track, has a later year attached to it I think. So maybe 33 by ‘23 - though I’ll still settle for 20!
Here is the link
https://youtu.be/9ksKyvrPQU4
Anyway, moving away from smelly pussy, I was having a look at the last annual report and note 22 to the accounts caught my eye. Management share options have a 3 year exercisable period, but only vestable (50% thereof) at 40p and the remainder on a prorata basis up to 100% at 55p. So maybe I’m a bit off with my 20p by ‘23 AJP, right enough! But let’s say 40p 3 years out from now, that’s roughly x6 current market cap, translating to ca £180M - a lot of share price growth between now & then (hopefully), and as a green ingredient company - now in established brands - I wonder where its share price will be in 10 years time, let alone 3. I did a selling strategy course a long time ago called “Power Based Selling” from the Holden Corporation - a brilliant course - which taught sales people how to identify “The Fox” in the company. I think our fox is Doc Durant - and I expect him to pull a few more rabbits out of the hat over the coming years, from the Itaconic Acid based polymer product roadmaps he and his team are working on.