Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
think there may be a bit of a plan to all this though. I notice a 1m share buy this morning, and yesterday an 800k buy, and also big morning buys on other occasions. It is very easy for the AT boys to fire in a quick succession of sells, (often with exactly the same time stamp) and knock the price down with ease. Add a few market jitters re mining stocks and can play as you please.
I was a fool for thinking 10p was good value. Yet another AIM loss. AIM is a mugs game for the PI.
How much revenue will this agreement produce? Figures, value to HNR etc. Not mentioned as usual. Just more airy fairy hope!
Emma had a best buy recommendation from Which magazine. I would think that has done more to boost their sales than any amount of standard marketing. In fact I have one! But I had never actually heard of them until I started googling around for a new mattress.
for the Schrader family, their investment 35k down in less than 2 months! It taken most of us 2 years or more to make our losses!
Also worth noting that since RP has no institutional investors to answer to, he can pretty well do what he likes when it comes to salary and bonuses.
Anybody going to the AGM? In my experience despite being very unhappy about the performance of their company, few holders ever bother going to AGM's, except the faithful who rubber stamp the resolutions, so the BOD have very little to fear from these meetings and can then vanish back to their ivory towers for another 12 months.
ED funds ..not a 'raise' as you say but even so, it was money that went into the HNR kitty and was spent/used, as shown by the need for yet another raise for the CBD project, a few months later.
My post was only meant to be an indication of the fact that for all the money they have raised and subsequently spent, there appears to be little or nothing to show for it, at least to date. Sure ED will hopefully keep some revenue coming in, and has some asset value, but in terms of revenue it is not enough to put them any where making a profit..
First let me put my tin hat on ....
HNR funding from Jan 2016 ( Could not seem to go back any further re IPO stuff)
$765,000 29 Jan 2016
$419,093 27 April 2016
$3,250,000 31 July 2017 (Subscription/Placing /Open offer
$1,563,000 "9 August 2017
$3,391 384 17 Sept 2017
$5,400,000 20 April 2018 ED Sale
Total raised to April 2018 $14,888,477
Results 31 March 2018 to March 31 2019
Cash $1,500,000
Revenue $1,000,000
Loss for the year
$5,770,000
If anybody thinks this is a successfull business run by a competent BOD they need their heads testing! To have spent nearly $15m dollars to get a return that barely pays to keep the lights on is spectacular. To be running at a loss as well is truly incredible! If the future is anything like the past then it does not look to good for HNR.
Nominal value was changed from 5p to 1p. But why go from wanting authority for 33% last year to nearly 100% this year?
Best to let them have it though, else will no doubt threaten admin sooner or later …...then have to call an Emergency Meeting to get them passed anyway. Just the same as happened at AST! Also not wise to rely on existing shareholders for funding as most of them are too pxxxxd off anyway.
The end of another rubbish week for HNR. When will these amateur CEO's realize that the market is no longer impressed with this fanciful waffle. It does more harm than good. To attempt to suggest that the last 12 mnths have been a great success is frankly ludicrous. Everyone knows the SP has been decimated, ...the umpteen promised projects have failed to generate any meaningful revenue, and they are yet again running out of funds. They appear to be living on a different planet. But as RP says they are a small company and have to be very tight with the money, but hypocritically continue to pay themselves 'big' company wages. There appears to be no 'going concern' section in their final results, but if there were it would surely say that without additional funding, they will be toast within the next 12 mnths!
100% dilution probably! Resolutions 7 & 8 don't exactly scream confidence in CBD sales! in fact I think they may well have had enough of embittered shareholders moaning and decided to just do whatever necessary to keep themselves in jobs and salaries. Seen it before with companies when the initial pomp and hype spouted turns out to be worthless hot air and shareholders belatedly realise they have invested in a company run by a bunch of inept clowns. The next step is for the co. to go into' bunker' mentality....just doing the absolute minimum needed to maintain their listing. We will see...…?
OSG1. I sincerely hope you are right. One positive of OTC listing is that investors there will be looking to HNR's future, whilst all our views here are jaded with the past!
'Listing on the OTC will have no impact on the existing listing of our ordinary shares in London'
Not moving, but dual listing I would have thought. Ought to be positive for the SP. Perhaps they can tap them for the next fund raise instead of us. 1.5m (31st March) is unlikely to keep them going until CBD starts making a return. Expecting yet another fund raise shortly in one form or another.
In a nutshell...
Not one of our projects has made any progress whatsoever in the last 12 mnths . Revenue 1.0m and loss 5.7m.
Now pinning all our hopes on CBD. Ends.
https://www.investegate.co.uk/coro-energy-plc--coro-/rns/restructured-bulu-psc-acquisition-terms/201907180700058998F/
Could be the reason for our recent modest rise?
Certainly got 'BIG' plans these boys, and the management to pull it off! Was a holder here when AP et al took over from the former BOD. Seem to have some very good and effective people in the team now. In fact was thinking of coming back in. Sort of remember at that time there were 350m odd shares in issue, now seem to be 1.3bn. No wonder not much SP movement since when I left despite all that has been achieved. And possibly more shares to come according to the todays RNS. I wonder....?
Had a suspicion there was a big background seller here. Woodford must be selling at a quite a loss. obviously desperate and willing to take a round 6p. Even if good results announced, (and that not guaranteed) he will just sell into any rise and supress it. loads of shares to shift yet. Daily volumes small so long way to go to clear if he intends dumping the whole lot!
Been a rotten deal from day 1 actually, having a partner who never coughs up their share of costs, and takes none of the risk. AAOG has had to raise 100% of the cash needed each time, leading to unnecessary dilution and the shareholders have taken all the risks. ( OK I know that AAOG can claim it back from oil revenues etc, but not quite the same as putting up their share) Even now would not trust SNCP an inch. If TLP-103 had been a duster, anybody reckon SNCP would have paid up a single dollar? Very much doubt it. In fact bet they don't pay up anymore until the results of side track are known!
What a botch job this co. is turning out to be. TLP-103 has overrun in costs by umpteen millions, and shares in issue have bloomed from 64m at IPO to an expected 396m! Glad I got out of this one!
Looks like they are going to be skint yet again. Better get the begging bowl out, ...and add East Denver to the ever increasing list of 'failed and failing ' HNR projects.