Member Info for fish2

Presume results due soon, even maybe tomorrow!
If soon maybe holding viewing/download figures for results.

Maybe the Board don't see a conflict of interest but Woodford will be putting out (or at least trying) other more pressing fires and not reviewing this portfolio objectively.
He doesn't earn any fees from this fund.
Just hope he doesn't sell what liquid shares he has here to buy at inflated prices more junk held in his gated fund.
An independent and new manager to review objectively the way ahead would be helpful as the reported NAV is meaningless.

Great news Gavin joining & investing in the company. Big investment - must have been impressed with their technology when doing his due diligence.

The increase in the Iron Ore price and IRC’s premium ore should start generating significant positive cash flow. This will relieve the pressure on the guarantees given by POG and their shareholding in IRC will become a real asset again. The positive gold price will then also kick in later in the year when the current forward sales are fulfilled and POX is operating at full capacity. A positive triple whammy we haven’t seen in years. F

This company is not big enough to penetrate its markets either a merger with Lidco or a sale to its French distributor would make sense. The product is good but I asked the anaesthetist just before I was put under during a recent operation if he used the Doppler and he replied no as the studies are not conclusive. We can’t go on financing this company year in year out. Still not generating cash despite years of promising to do so.

You don’t have to follow his conclusions but his research is normally spot on. Given his aggressive approach he would be sued out of existence if his research wasn’t serious. He took on Quindell, Globo,Telit and proved the frauds which the FCA/SFO are now looking into. In this case he just points out the relationship of LOG with LFC and then speculates on the available funding for IOG. I’m an IOG shareholder and am watching nervously to find out how they are going to finance this - I’m worried there might be a equity placing rather than a bond.

Latest analysis today from Winnifrith says that IOG most probably won't get any further financing from LOG.

LOG relies on LCF for financing and LCF can't do anything without FCA approval.

Winnifrith's analysis appears clear and the company must plan accordingly. If they can't raise funds elsewhere then we have a problem and I ask management to address this urgently in an RNS as the current RNS says they are relying on LOG!

Yes maybe but the debt is the problem. A major IT investment program is using up the free cash flow and so there must be a substantial risk of a Rights Issue.

This is a good company with an exciting future - unfortunately ordinary shareholders won’t be able to benefit. The sale is because their major shareholders aren’t able to continue funding the future - I thought Woodford was a major shareholder and this might explain why the sale has been agreed.

I find all the company communications completely lacking in any meaningful content. The results could either have included the value of the shipments or the quantities - that way we could have a feel of what they are producing but by netting off with the investment and not giving the figure they have avoided saying anything. The next figures are y/e 30/6 not due until 31/12 (if we're lucky) and no doubt they might come up with the same wheeze to say nothing. Larry was totalling unconvincing on Proactive video and looked ill at ease, The SP reflects people losing patience with a company that is avoiding communicating anything meaningful. So you have to presume the figures are not good. How they plan to finance any new investments under their new guise can only based on a ramp of the new investment - what about cobalt !