Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Do we need the cash? They are doing due dilligence regulariy on opportunities but have currently only got £1 million allocated for investment prior to Christmas which leaves a years worth of expenses as cash with a further £3.5m in liquid investments that can be sold if required for more appropriate investments.
I was listening to a report last week that said most of the investment houses were tapped out for this year on the amount of IPO's and takeovers already undertaken. We have 6 IPO's to get away so I'm not surprised that a lot of the liquidity events that I hoped for in Autumn have been pushed back. I would like them done at the right price rather than at any price.
Reefles
That begs the question why would they invest in something that isn't going to increase in value therefore leaving all other investments as unchanged makes no sense and places to much emphasis on Leap to be the driver. Yes it is an unlocked gem, we hope, but the future is based on can they deliver profitable investments in the wellness sector and I would hope that they are targeting 100% minimum on all their investments going forward.
Lance also mentioned that of the £2 million cash in hand currently at least £1 million was already earmarked for allocation before the end of the calendar year.
Accounts for September to be published early December.
Noticed a very coordinated spate of sells all after 20 mins of presentation. A cynic would think that you turn up on the day cast a bit of doubt and then magically after no trades all day you all decide to sell at the same time. Were you hoping that those not watching will assume bad news.
You can't have it both ways. Either they are busy sorting an IPO or they are buying shares which one would you prefer.
Interesting comment early on regarding share register where Ed alluded to Institutional Investors and stating he would like someone on there in the 20% range.
Ed "if I was offered £50 million for the company would I sell it, No"
I got to £10 on the bid, just a couple of days late!!!
O'Donnell hope it is a good day you deserve it.
Has anyone put forward any questions for the AGM?
people appear to be paying over the offer on any sort of size trade at the moment. Can't see this staying below £10 today unless buying dries up completely.
2 points re the discussion on Leap.
a) The Maltese figures show an ebitda profit of 884k as opposed to 345k in the previous year with turnover doubling in 2021(as per the notes) they should therefore make ebitda profit of circa 2 million and actual profit of 1 million ish (all figures are in Euro's). Not bad progress.
b) And this is where I may get into hot water. I can't see that the figures in those accounts are the full figures for Leap as they do not tie up to the statements made in the RNS's over the last 3 years even accounting for the dollar/euro exchange rate. The year ending 2017 the turnover was $537, 548 with a loss of $937,000. In the Maltese accounts the loss brought forward at 1st Jan 2018 was only 313k euros and the turnover in 2019 was only 551k euros.
Based on the RNS comments which is all we have to go on I would have calculated that the year ended 31st December 2019 should have been nearer $1.7 million with 2020 $3.4 million and 2021 $5 million minimum.
The figures don't add up and I can only assume that Malta is the development arm and Frallis LLC is the licensing and royalties Company. Unfortunately Frallis is in ST Kitts which doesn't bother with accounts and so we can only go on what evidence we can dig up.
Barwickman
" we were told Leaps in profit only for them to say no it’s not in profit"
I missed this bit. I didn't think I had seen anything from them other than comments regarding growth and a path to profitability did I miss an RNS somewhere?
It's not even big winners it's solid, well researched investment decisions which repeatedly produce good returns. if every investment is for a maximum of 2 years and achieves 20 to 100% return I would be happy.
The FFWD version always seemed to be chasing a Unicorn and the trouble with those is they have no track records usually and is more like a gamble. The current crop(no pun intended) of investments seem slightly less likely to achieve Unicorn status but the returns achieved so far of of IPO's and Convertible Loan Notes over a short investment timeframe all point to solid sensible decisions being taken.
We all hope Leap is going to be a huge sale/IPO type success but it isn't a given and the discount to NAV and selling even a week prior to an update is proof that not everyone is as convinced as most on here that the discount isn't deserved.
If the "AAA consortium" stay put then the free float is going to be very constricted here and any volume is going to lead to quite big and quick moves.
Looking at the underlying prices it would seem that most MM's have settled at 8p bid vs 9p offer and happy to sit on the sidelines until the update that Ed has roadmapped for the 22nd. There might be a few swings within that but unless unless anyone makes a huge move this is rangebound until then.
Thats some numbers just posted for August. Will it get lost as it wasn't issued until 8.00am?
Anyone for a hostile takeover? If the board don't agree to the extension, which they haven't as yet, then with 50% + already accounted for it must be worth a shot to buy out another 5-10% to make the boards continued stance untenable.
(or are they locked out from trading the shares if the date lapses?)
Trying to extend to 30th September and now we wait for BOOM board to respond.
Can I own up to having the last Custard Cream when no one was looking and then asking who had taken it.........
Boombangabang
A lovely condescending post which offers nothing and doesn't back up the assumptions made. The directors can continue with relisting the shares whilst an offer is on the table and if it was Nasdaq then confirmation of this or any other exchange is an important fact that would assist us in working out what the bid is actually worth.
Although it was showing as a code on Nasdaq's website last week this now appears to have vanished so the mystery continues.
However any readers of this post must consider the fact that I am obviously misinformed, misdirected, unable to read an RNS and probably not even a shareholder and treat my comments accordingly.