Member Info for Hexam

I find losses concerning in any company if there is not a clear path back to profit. For me there is a path there for BOO but plenty of obstacles in the way too.

And thinking that capex won’t increase again some time in the future is not only wishful thinking but it is also pessimistic thinking actually.

“the purpose of depreciation and amortisation is to facilitate the replacement of assets in due course.”

No it’s not. Good on you if you have done your own ‘business accounts’ but it’s clear you don’t have much knowledge of accounting for big companies and what it all means.

I just wish you would stop misleading people with your supposed knowledge.

“So if these items turn a loss overall it's academic as the infrastructure is in place for the next five years atleast.”

Academic to you maybe but not to me or anybody else with a passing understanding of financials.

I don’t have much confidence they’ll hit their positive FCF guidance given the bad misses in guidance over the last two years. Even if they do and even if it is non-cash items only that take profits negative that is still not good as the non-cash items like depreciation are there for a reason (to show a fairer view of ongoing profitability than cash does). Obviously that doesn’t include one-offs.

“It has made pretax loss for only two years and is guiding for positive FCF this year.”

But very likely another pre-tax loss.

Apparently they stopped making the videos simply because of all the grief they were getting about them so nothing probably to do with NDAs.

“Perhaps something was raised about this at the AGM and if so DelbertGrady could confirm?”

🤣🤣🤣

Sorry Trisor, I assumed you were talking about market expectations rather than just your own. Seems clear from the sp reaction that the market is disappointed in the results so expected somewhat more than you?

CPI themselves have reduced their revenue expectation but margins, adjusted operating profit and FCF outlook appear unchanged so nothing in what they say suggests to me that they feel they have outperformed against their own expectations.

"Mad overreaction to better than expected results."

What makes you say this Trisor? I can't see anything that suggests that this is the case?

Outlook seems unchanged apart from the expected drop in revenue.

Looks like a mixed bag to me so bit surprised about the size of the early drop despite the drop in revenue. Not helped though by market generally having a poor start.

Overall looks like an unspectacular set of results that perhaps suggests that any recovery may take a bit longer than expected but no worse than that?

Not so, the minimum he has to offer is just the highest price that Frasers have paid in the last 12 months - which I suspect is a lot less than 42p.

"Think we will see more positive updates ahead"

An example? They have no spare cash to invest, no assets worth anything much to anybody else and no way that the business can improve organically. So personally I can't see anything that could possibly resurrect the company's fortunes (beyond BTC soaring and even then that will benefit other miners much more) - but if you can it would be interesting to hear what you thing that might be?

It's even hard to see how they pivot into a totally different area (and there is no indication the cash is going to be used to do that).

Regardless, the title of the thread was 'debt will be gone shortly' - which is clearly false.

"Why does RNS have to be outside trading hours, is there a legal reason?"

I'm not sure it's as strong as that (it might well be) but I do think they would get into some kind of trouble if they CHOOSE to release market sensitive information inside trading hours - for example not everybody can keep a real-time eye on information (especially PIs) and having RNS released at 7.00am is much more orderly and creates more of a level playing field (or at least less of an uneven one)!

Of course RNS are released during trading hours but these tend to be routine matters or where the timing is forced on the company by a specific event happening or even a rumour/response to speculation and the news just can't wait.

And I'm sure they're not (other than the RNS at lunchtime that will announce the results of the three resolutions and of any consideration they had to make regarding the net asset position). If there was a significant update (and not one they had to release immediately) then it would have been released outside trading hours so before 8am. Mind you, there could be one after hours this evening but not sure why they would have held it back until after the AGM?

In any case, we'll see...

The bonds are due 2026, so not so far away and at the moment they have nothing to repay them with and little prospect of generating any cash in the near future to do so with either (other than by further equity issues).

So yes, the headline of 'debt will be gone shortly' is very misleading. IF they clear the Galaxy debt this will certainly buy them a bit more time...but not all that much and still nothing to suggest that they have a long term future (other than BTC going absolutely bananas).

Well, whoever he was he seems to have gone already 🤷‍♂️

Unfortunately I suspect the 'UK Quantum Boost' thread could disappear which would be a shame as it started with a couple of informative and positive articles/quotes - whatever your views on QBT.

I freely admit that I remain hugely sceptical about QBT but if others are extremely positive then that is their choice and good for them. Nothing wrong at all with being positive about your investment and having faith in the company you have put your money into. Unfortunately some take it too far though and start throwing out misleading information, silly accusations and childish insults. (And yes, the same applies to the 'other side' as well.)

This board has been better lately as the positivity has mostly been just that - positivity. Just hope that the few still hellbent on shouting down any negativity or even, as in this case, the positivity of those they suspect of 'changing sides', see that it's all unnecessary and just hurts their own cause (especially if it gets whole threads removed that by and large are supportive of the company).

So maybe just keep your issues and make believe to yourselves whilst we wait for actual news and leave the discussion to those who just want to talk about the company in a more respectful way whichever side (or middle) of the fence they are on?

What's funny in this instance is that Obelix DID set up a second ID called MultID, a supposedly new investor with a £2k stake as opposed to the millions of shares that Obelix claims to have. Unfortunately he then tripped himself up by mixing his IDs up and posting about his £2k investment under his Obelix account.

And this is the poster forever banging on about the dishonesty of others and their fake IDs! He's either got a tremendous amount of cheek or a staggering lack of self-awareness. Truly bizarre.

“Seems to me Southcoast is living a fun life, like most people who actually have the money to invest”

He may be, but people without insecurity issues wouldn’t constantly feel the need to tell everybody else about it.

Thankfully I no longer have to be subjected to his watch collection or holiday photos now that he’s vacationing in my green bin.

Yes, but that was separate to the AGM itself which should just stick to the agenda. So could well be a PRN on other matters - just like any other day.

The AGM will likely be over in a few minutes and just agree to adopt the accounts, appoint the auditors and re-appoint a director. Nothing else on the agenda apart from possibly needing to consider the net asset position.

Can't see them digressing onto company updates which are more properly communicated via the RNS.