Member Info for Gallmat

The reason for cash outflows.
We had money in organically and from raised capital.

It went out the door because we invested in cases.

Cash has come back in with profits ( in presentations ). But they thrn deploy it again.

How can we expect a big cash inflow and p&l when most of our money is still out in cases which are going to realise soon.

That was my next step. What email address did you use to confirm with green x

Not sure how you derive no delivery from my comments.
Their cases are in the court process and theg have consistently shown excellent profits on cases won (95pct of cases)

I have mailed again for reply. Be good if others can do the same

I have mailed again for reply. Be good if others can do the same

the website has a twitter feed. they just organised an event in london. patrick our CEO was on one of the panels.
there were lots of other industry players quoted in the tweets. so this seems a legit site that attracts serious people to a conference.

if they have misstated lcm won, i would expect lcm to reach out and have the article corrected

it seems like a serious site. 995 usd a year to subscribe

i sent an email to lcm email to ask them to comment, because if this is true then there is material uncertainty from public information.
]1) if we are on a multiple we might make 18m aud x2 or 3 for the fund
2) if we are on 20pct * 740m gbp of profit so 150m gbp.

without any comment, people could assume 2) or 1) and if they get it wrong, the stock can be mispriced.

regardless it sounds good, even though i am sure poland will appeal. if they pay now, they have to fund it (borrow money). if they delay, they just pay some legal fees and then ultimately win/delay payment

Thank you for this. Very much appreciated.

Where can i see the nov nav?

https://litigationfinancejournal.com/lcm-funded-mining-claim-wins-740m-in-compensation-from-polish-government/

An interesting read. We have class action for water contamination. Thisnis becoming a really wide spread issue.One case covering 2 areas settled for 200m+ aud, from same lawyers running our case.https://fortune.com/2022/11/10/california-suing-dupont-3m-water-contamination/amp/

Thanks for the reply.

But the response was factual. They recognise earnings when cases are settled.

The others in sector like burford mark to market.

The cashflow is low because the cases are going through the court system.

Their past return on cases settled is disclosed at 15pct ish.

This is just a case of if you like cost accounting or mtm. And burford had issues of stating mtm gains and being called out by a short seller.

This is not overvalued at all. You need to understand

A) they do cost accounting
B) historical cashflow is completely irrelevant given a).

The book value consists of investments held at cost. Typically investments made a profit of 150% when they settle.

1. In the next year we have 100m aud of investments made 3 to years ago and you should expect a profit of 150pct on these (ceo latest comment from last video). If you make up a future book value doing this it is above market cap!.

2. Looking at past cashflow is meaningless. These show the profit from realised cases. 4 to 5years ago we had very small capital. Small investments small realisations small cashflow.

3. Valuing this company based on book value alone is like valuing a stock with no future earnings!. They will get profits from existing cases. When the settle book value will increase. They will invest make earnings and book.value will increase again

This is explained in presentations.

I have mentioned this before.
I will contact thrm via their email.

Big issue is fund is in usd.
They report in aud. Told them to put usd$ and aud$. So simple.

I have followed these guys for 2 yrs so if you have questions i will answer what i can.

Nav is quoted in aud. I think incorrect conversion to gbp in your no.

But it id very undervalued.

You might overestimate.
Need to check presentations but rough idea.

Lcm contribute 3
3rd party 9
Total 12.

Assuming return of c3.
Lcm get 3x3 = 9
Lcm get about 25pct of 9x3 = 25% 27 = 6.5
So 15.5 on investing 3.

Still great but you are including gains to 3rd party investors

How do you derive that?. Can you put your calc in?.
Remember if we coinvest 75pct on capital of 3rd party. Can you add your calc

Ceo has told market normally multiple of investment. This changes with time. Up to about 4x i think.

Or a cut of winnings up to around 25/30%.

For larger claims, such as kpmg said multiple on capital. Queensland power class action claiming 1bn aud on 25pct of proceeds

I would guess it is multiple of invested capital.
It the number is too big and good to be true it probably multiple on capital.

They do not disclose case by case so be conservative. Still good enough

please disregard my error. it is just stating another area has same issue as bullsbrook.
i could not delete so issuing correction,

https://www.lcmfinance.com/court-notices/

First of our areas is bullsbrook same as in article