Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
First line should say: .... to 31 Dec 2021
Just been trying to understand the final results statement to 21 Dec 2021:
"Revaluation of Deferred Consideration... As a result of revaluing deferred consideration related to the acquisition of Itaconix Corporation in 2016, per note 17, there was an exceptional non-cash income of $1.6m in 2021, which offsets the exceptional non-cash expense of $0.3m (excluding foreign exchange) from 2020. In addition to the revaluation of the liability the Group issued 1,923,389 shares to certain Sellers of Itaconix Corporation on 12 April 2021 in settlement of the contingent consideration payment for 2020."
Is this now concluded as per note below? I am not sure where the not 17 is which is referred to above - anyone know?
PARTIAL EXTRACT FROM PRELIM ACCOUNTS TO 21 DEC 2016: "The Group issued 6,305,050 ordinary shares of nominal value 1p each as consideration for a 100% interest in Itaconix
Corporation. ... As part of the purchase agreement with the previous owners of Itaconix Corporation, a contingent ... deferred performance related consideration will be payable to the Itaconix Corporation shareholders, subject to the achievement of certain growth targets for the calendar years 2017 to 2020, based on 50% of incremental annual net sales value above $3m in 2017 and in excess of the prior year for 2018 to 2020 inclusive.
The deferred performance related consideration is capped at $6m in aggregate. Such deferred performance consideration, if any, will be satisfied annually entirely in ordinary shares of Itaconix plc "
I notice that the refrac has commenced, all equipment now having arrived.
AimingHigh2021
Not sure I follow your logic - the RNS seems to explain that this (name change) process is pretty much an isolated piece of business, why would it have an impact on the share price on its own?
Good to Know it is almost good to go,
Bit of a slow start this morning, but seems to be gaining a bit more traction.
Good to see positive numbers being produced - feels like a steady hand at the tiller, as the company balances actual growth with potential.
Exciting times indeed.
some of the resolutions not passed at AGM - what does that mean ?
At the AGM, resolutions 1 to 3 (inclusive), 6 to 9 (inclusive), 11 and 12 were duly passed. Resolutions 4, 5 and 10 were not passed.
Day traders are often a problem - but with so few shares in free float here, they will struggle to do that much (short-term) damage.
Good to finally see some traction from the share price in the right direction.
What a difference it makes when you are invested in a company with good prospects, where directors have skin in the game, the product has excellent green credentials, no debt.. and much more.
A lot of positive things happening - development, negotiations, planning, even officially mining soon hopefully (albeit already doing so already effectively in advanced preparation).
Is this finally the turn up in the share price action?
Sandgrounded
You make some interesting points.
With respect to Loan Repayments, unless altered since, the Nov 2020 RNS covered this:
Scheduled quarterly repayments of the loan(s) will occur once production commences at Havieron with repayments comprising 80% of quarterly "Net Proceeds" (revenue from sale of Greatland's share of JV product less statutory royalties, royalties payable under the JV ILUA, all charges paid by Greatland under the Tolling Agreement with Newcrest, and Greatland's share of Joint Venture operating expenditure for that quarter).
o Greatland may prepay all or part of the total outstanding loan balance(s) without premium or penalty at any time.
o If Newcrest exercises its option to acquire the Additional Farm-In Interest, then the purchase price payable by Newcrest to acquire the Additional Farm-in Interest will be set-off against (by way of prepayment of) the total outstanding loan balance(s) at that time.
Thanks Bamps
Numbers sound low (criticism of Newcrest methods and cut-offs, not Bamps).
Good to set expectations at a reasonable level.
Looks like the NCM version of MRE will be a slow but continuous improvement from the starting point.