Member Info for Hexam

OSD - If you, or anybody else, can’t open their eyes and see what this company really is about after yet another can-kicking update (and a very half-hearted one at that this time) then I suspect you never will.

None so blind as those who will not see.

OSD - Glad you are finally gaining some vision to go with your sight! It’s taken a while though but always happy to help 🙂

OSD - Are you any relation to Eric Cantona?

...sorry, our posts crossed!

Not sure I get your comment FED but if you look at the consolidated cash flow statement then interest and lease payments are clearly after the FCF line and part of the reconciliation to get to the net cash inflow/outflow (or as you called it the change in cash position).

"Interest expense and rents are included in FCF."

Some companies do include these in FCF but BOO definitely do not.

"There is ofcourse a third option Hexam, which is that they expect to be cash flow neutral or better this year"

Which I covered but they need it to turn it around quicker than the end of the year in my view for it not be a problem - hence the caveat I gave.

"of course I will dumb it down for YOU- my money, my choice, my risk - not yours."

I get that OSD, it's all the gibberish you spout in 'justifying' your choice that loses me.

Thanks FED though £28.5m is not the FCF as that metric is only part of the cash flow whereas the £28.5m is all of it (bar the things you listed, and of course changes in loans). The FCF metric also excludes interest, lease payments and any EBT share purchases (and so for me is not very useful) - so It will be better than a negative £28.5m for H2 but still likely to be negative.

Fair enough if you think it's going to take off but your supporting 'logic' is even more cryptic than RKB!

"Keep your eyes open and don’t let the bends slow you down" - ???

"This may fly or flop but if you believe it is better than doubting and being disappointed." - not if it does flop, surely?!

"I always said it didn’t matter whether it was rubber bands or gold ingots that were being traded, there was always a clear message, forget about the process, find the end product." - eh???

"has anyone taken the time to study the trading patterns here ? When you do, if your interested, look for the simple answer staring in your face. Is there a war chest waiting to be utilised ? Without starting too get into hash rates and all other tech stuff & if BODs are having bolly for breakfast, go back to sound share intelligence." - really haven't a scooby what on Earth you're trying to say here.

Maybe I'm just too dim and you're operating on a whole different intellectual level, if so could you dumb it down for me please?

"Im sure the debt is not an issue."

Beg to differ as I'm pretty sure it is. Net debt of £83m implies they only had/have £42m of cash (assuming everything bar the £125m RCF has now been repaid) and as you say we can work out the cash flow from this and it was still negative in H2 (ignoring asset sales and equity issues) to the tune of nearly £30m. So unless they've since turned it around that £42m is dwindling further. The fact they have only replaced £125m of debt, or even if it turns out they are trying to replace £175m of it, suggests to me they are either struggling to raise more debt or they expect to make more asset sales very soon.

If they do make more asset sales that may solve the issue otherwise I think debt is going to be hanging heavily over them and the terms they can get are likely to get worse, not better, as the risks continue to increase.

"You obviously have missed the point"

Hardly surprising as you seem to be talking in riddles (being kind).

To be fair what Fleccy says is perfectly correct and you don’t need to be any kind of ‘expert’ to understand that - it’s just basic knowledge about Bitcoin.

Two conferences before this they were meant to be doing 'live demonstrations' now they seem to be just presenting what is basically an introductory video about Method C. Are they going backwards? Hopefully there is a lot more to their 'private meetings' than this.

“You do seem particularly cynical today, I do hope it's not QBT dragging you down”

Hilarious - if you had actually read any of my comments on QBT (though to be fair most get deleted like nearly everything else there) then you’d realise that I have even more contempt for that company than I do for BOO’s management…or you for that matter.

Your CV might be impressive - if I believed that it, or anything else you say about yourself, was true - which I don’t.

I would stick to posting on GST if I were you as they haven’t all tired of you yet and some even seem to believe you are genuine.

“Or maybe you prefer the input of the likes of Crawshaw and Pedro?”

Yes, infinitely more to yours. Never posted on GST (I think) but that’s the case for most of my other investments too. The ‘sadly’ is because you post there. I’m well in profit there thanks - unlike here.

‘Six figure sum on a virtual free carry’? I would filter you if it wasn’t for the laughs. Like your 2%, low 30’s average here 😂

As to getting one’s ass handed to oneself on a plate that is surely something you would sympathise with as it happens to you on an almost daily basis here.

I don’t think Bfd said he works for one of the Big 4 - he was quoting another poster but was sloppy and hadn’t used quotation marks to make this clear.

He did say he was a ‘Change Director’ though - but that is just as unbelievable. Perhaps he meant project manager…

“expecting an update early next week on how it went in LA.”

What are they doing in LA? RKB suggested they were in LA too? I thought they were living it up in Vegas at the moment?

“I wouldn't advise looking at his posts on other boards, it makes for a painful read.”

Unfortunately I’m invested in GST and see his posts there as well but actually they are no different really to what they are here. Same condescending approach to any anybody that disagrees with him and endlessly showing his ignorance of MMs and the market in general.

“"I think you had better stick to bean counting"

"so you are nowhere as near qualified to talk about this kind of stuff as me"

Just wow.”

Just wow indeed. One reason I post less nowadays is I’m just so tired of the jumped up know-it-alls that these boards seem to attract that actually don’t know very much at all but insist on trying (and failing) to prove that they do and on always having the last word.

‘Change Director’ - got to giggle 🤭