Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
5 years ago - Monday 5th December 2016 the SP close was 22.941. Yes it was all over the place and had been higher and lower but I think my point is valid - Your 10% of the SP 4/5 years ago is just plain wrong and the mcap is now substantially higher than 5 years ago - which is a more meaningful number anyway.
Further to the below: there are currently around 430m shares in issue compared to around 150m 5 years ago so even with a lower share price the mcap is significantly higher.
I don’t disagree that the commercial progress is disappointing here, just that your suggestion of the ‘destruction of shareholder value’ is not accurate.
Ironknut: you asked the question: why is KMK worth 10% of its SP 4/5 years ago. The SP was around 25p 5 years ago - so it’s currently around 50% of the SP and given the share issuances in the interim the mcap will be significantly more than 50%.
You also say: “ As for FIAT currencies they are basically the root of all that is wrong in the World.”
Er….
1. The crypto boom is a classic speculative bubble. The technology is interesting and will lead to innovation but the very many individual crypto tokens are tulips.
2. The vast majority of people using crypto to ‘transact’ are criminals, fraudsters, money launderers, hackers, drug dealers and anyone else who needs to hide their activities from the govt/taxman/police/family etc
3. As I understand it the current processing and maintenance of crypto ‘distributed ledgers’ consumes energy equivalent to a reasonably sized country. (I heard the netherlands but anecdotal). Now, you don’t have to be a mathematician to understand the implications of the exponential growth here…
Ugjot….you say about Fiat currencies : ‘“The ability to just generate more of the thing that many people measure their labour and hence savings in is open to abuse.”’ forgive me but didn’t all of the crypto currencies (how many are there?) get conjured up out of thin air ??
Mr Charlie, CB has been here for as long as I can remember and has been consistent in his view that Cyan is not going to succeed and that John Cronin is essentially a fraud. This longevity and the sheer volume of posts has clearly given him a sense of entitlement. Woe betide any ‘newbies’ coming along and butting in on HIS board !! Just ignore him, or even enjoy the increasingly desperate rants of someone without the class to admit he might have been wrong… or at least tone it down a bit…
Yep, very nice to see some positive sentiment driving the SP.
There will be plenty of people who are missing out though, having lost faith during the doldrums. They shouldn’t have listened to colourbounce and his relentless negativity…. I’m surprised he’s still posting - I’d be too embarrassed…
HDD: your suggestion that: “The market doesn’t like this guy” is way off in my view. I would suggest the total opposite - look at the share price. With Market Cap of nearly £300m and next to no revenue yet “The market” clearly expects AN to deliver. As do I.
Good update yesterday and it seems Cyan SP may be moving out of the doldrums at long last. Hopefully that might deter the trolls and their relentless negativity for a while. It should, after all most of the significant metrics are really moving in the right direction now, not least the SP.
Since when has ‘no revenue’ been a problem for this type of business at this stage of development ??
It may have been ‘overbought’ (in the eyes of TA followers only perhaps) when it raced to £2.80 earlier this year but I didn’t see any of the major shareholders reducing.
The only change here since £2.80 is that the company has continued to update us on the installation of their manufacturing facilities which will lead to commercial sales in the short term (<1year). As usual they are successfully doing what they said they would do, in the timescales planned.
Will the SP go lower than this or has it reached the point where the smart money will start buying again ? I don’t know and I’m not overly concerned. I know it’s a cliche but I am genuinely looking at 3-5 years minimum - at least until we see what happens with Goliath by 2025.
In the meantime I’m confident Stereax on its own will build a very valuable business.
Arsenal, you’re right in thinking it will take several months to get meaningful information from the US - this shouldn’t be a surprise to anyone.
As far as ‘selling costs increasing’ ?? Erm… I think that might have something to do with setting up a direct sales ream in the US ?? and so not really any surprises there either ?
Arsenal - the RNS dated 24/6 states that 30 sales representatives have been recruited and trained. If you were expecting any data regarding sales just 6 weeks after launch then I think you were being a little optimistic.
As for: “£8m spent on what so far ?” please see the “group statement of cash flows” included in this mornings update - you’ll find it answers your question precisely.
So, it would appear the ‘Market’ doesn’t like this morning’s update. My guess is that the people selling are either disappointed there is no detailed sales numbers for the US - which was an unrealistic expectation, or they are the friends of the new posters that we have seen spreading negativity just recently.
My reading of the RNS (and yes I did actually read it) is that good, steady progress is being made on various fronts but of course the big deal is the US launch and I’m afraid we are just going to have to wait for significant news on that.
Meanwhile nothing has changed and if it dips below 40 then it has to look like very good value.
“Lesson 1, bashers never bash a bad stock….”
With respect, that’s nonsense and the implied wisdom that the presence of bashers is somehow an indication that the share has potential is dangerous…
Note; I am in no way referring to PHE just the flawed logic of “lesson 1”