Member Info for faramog

It is interesting that as we steadily (and perhaps more rapidly) move to a largely cashless society, the only real difference between crypto and non crypto is the particular server money is held on .. one monitored and overseen by an elected government and one who knows (but very probably in Russia or China).

I have 30 quid folded in my phone case - it has been there a year, and aside for a few coins left regularly for a local egg delivery man, we practically never touch cash any more (nothing about CV fears .. just all done with plastic).

Buffet was a millionaire many times over, but became a multi-billionaire by recognising what the early Amex plastic card could do - I suspect even he never considered it would largely takeover .

Food for thought !
In the not too distant future

I just cannot trust money housed in software as a store of value, green issues aside.

don't forget the environmental damage of Cryto. Bitcoin alone uses more electricity than Argentina annually just for its 'mining' operations

@Beginerman - in FM's most recent interviews he clearly stated they have had issues on delivering to targets and said the plan was to have conservative targets they were confident they could meet - the plan is (by definition) on of under-promise and deliver/over-deliver therefore. One of the broker questions in the Q&A was specific about this asking if they were not now being too cautious ... no pleasing some I guess.

As for Eskom - Bushy is not in a position to bid, but is part of a wider consortium. I rather believe any involvement (for the next 12-18 months) would be small and limited to normal market supply of vanadium (sell to X, sell to Eskom .. makes no real difference to the balance sheet)

Eskom is a headline but it is the rapid rollout of small distributed generation where I think real money will be, but until the Electrolyte plant is fully built (mid next year) then there will be little beyond just supplying vanadium to someone (a little electrolyte from Vanchem), but small beer.

It is not that the strategy has changed, but rather treading water a bit. I do remain pretty bullish. In one sense, the vertical integration and value add chain really needs all the pieces in place. It is the slowing and delaying of the electrolyte plant that really points to taking more time ...

As for TSX .. well Canada is a G8 country and not a junk status economy - the comparison is daft

well done @gambit ... my days of road running are well and truely over !

incoming Atom deal completion .... I wonder

"The £1.00 Party is not far away."

Oh god .. not that again .... I suppose in 'Africa Time' it may not be far away, but I rather don't see it this year

oh right .. thought there was a 6 or 12 month and then orderly disposal clause. But, whatever.... them selling is ultimately more liquidity

I thought Duferco could not sell yet ?

£50m stake in ATM .. dont thinks so ... £5m maybe

ha ha .. no one trading yet ... only 600k trades today so far .... all holding for the re-rate

Surescreen have had a contract for £500 billion ... what ... half a trillion quid ...

Cobblers !

why Thunder1 ? .. what happens on 17th ?

well put @Pdub - I did later have much the same thought but could not be bothered to post again ....

Perhaps @johnpwh - you could pass on some of these views. I would love to hear what the brilliant minds think. After all, we are mere punters and not privy to lofty things so could be completely wrong.

Seriously, it might sound a bit of a p'take, but genuinely interesting in what your friends think and why they think it does all work as is

thanks gambit .. will have a listen . He certainly pulled no punches on the recent 'state of power' webcast

The brokers have access to a lot of inside info. It is interesting that they come up with such a spread of opinions as to figures over the past year (when pretty much all the data has already been published) and then going forward this year and next.

Whilst we map historically to vanadium pricing, I wonder where it is the 2020 loss year combined with a very modest 2021 prediction that may have some possible large investors thinking 'not right now'. After all, we did rather expect a whole raft of parties getting on board not least as the VFRB drum is not longer distant but marching up the way like a drummer on the falls road !

Just a thought...

2020 2021 2022
--------------------
EBITDA (ARC) ($m) (12.3) 19.5 79.3
post tax profit (ARC) ($m) (31.2) (4.0) 36.8
FCF (ARC) $m (26.4) 6.7 13.9

EBITDA (SPA) ($m) (14.5) 26.6 81.9
post tax profit (APA) ($m) (34.2) 6.5 57.6
FCF (SPA) $m (33.7) 8.2 41.3

SPA's FCF is on 100% basis, not sure about ARC

Exactly FB....

John, I do have one other observation.

The FCA is inept partly because it does have people who have been part of the establishment, its running and operation for many years and really see nothing wrong with it. Perhaps your very educated, qualified and eminent friends could actually apply themselves to fixing the FCA

well john .. given the near constant stream of financial irregularities in the marketplace and the seeming either incompetent or lack of teeth approach to regulation, along with the pretty clear manipulations that occur particularly on AIM (which have been regularly reported to the FCA not least by some on here), I would agree I don't know anyone personally,

But results rather speak for the lack of regulation and teeth. So unless otherwise demonstrated, I rather have the view they are either stuffed with financial illiterates, don't care, or just have no real teeth.

no Bobby ... more like a flex buzzing about like Dastardly .. and we are the pigeons !

well our regulator (FCA) is stuffed with financial illiterates and appointees. It has no real teeth and a mandate that a coach & horses could trot past.

.... so don't hold your breath