Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Looks like time is running out for oil and gas companies according to this article:
https://www.bbc.com/news/business-65415529
Hi Crude.
Good to see you are still hanging on in here, like myself.
Let’s hope we get back to the same dizzy heights we were once at.
An application to drill for oil in Surrey has been approved by the government after it had been refused twice by the county council.
UK Oil & Gas (UKOG) applied to explore a site south of Dunsfold Road and east of High Loxley Road, in Dunsfold.
Waverley Borough Council said it was "the worst possible outcome" and the drilling could lead to "irreversible harm" to the environment.
UKOG said it was looking forward to working with the local community.
UKOG chief executive Steve Sanderson said: "We welcome this decision and its backing for Loxley's gas as a secure, sustainable energy source with a far lower pre-combustion carbon footprint than imports."
An application to drill for oil in Surrey has been approved by the government after it had been refused twice by the county council.
UK Oil & Gas (UKOG) applied to explore a site south of Dunsfold Road and east of High Loxley Road, in Dunsfold.
Waverley Borough Council said it was "the worst possible outcome" and the drilling could lead to "irreversible harm" to the environment.
UKOG said it was looking forward to working with the local community.
UKOG chief executive Steve Sanderson said: "We welcome this decision and its backing for Loxley's gas as a secure, sustainable energy source with a far lower pre-combustion carbon footprint than imports."
Not long before we hit the 2p range now by the look of it.
End of year ?
I too am happy to provide trellis a screen shot of my holding
And after retaining aplrox 50%, this means 4p
My fag packet calculation works this out at 8p per share when converted to sterling
Interesting
I am also invested, and agree , I don't believe a bid has been put forward.
Maybe no potential buyers lining up ?
EBay listing next ?
IF there are any interested parties....
I personally don't have any confidence that any sort of bid will materialise.
Let's set a hare running.
What if the shares are suspended following a 07.00am RNS and this is to give more details.....?
A very early start too, just at market open time....
Some sinking ships won't even let....
There's a listing ship (boat actualy), in the harbour where I live, that has been for sale for years.
Sadly, not all For Sale signs mean a sale...
That's his signing on fee spent.
Shame the others aren't buying too...
Not to sound pessimistic, we need a buyer first in order to secure a price.
What happens now if no one steps forward and shows the contents of their wallet?
No buyer equals no sale.
Surface Transforms plc
("Surface Transforms" or the "Company")
Trading Update
Surface Transforms (AIM:SCE) provides the following trading and operational update for the year ending 31 May 2019 ("FY19").
The Board is frustrated to advise that progress on its compensation claim for delays on SOP with OEM6 have not concluded. Given the timing of Surface Transforms' financial year end, revenues of approximately £250k that had been budgeted in FY19 are now expected to fall in FY20. In addition, the OEM 6 production schedule has also been revised, with the build rate being loaded to the second half of the 2020 calendar year, therefore deferring FY20 revenues into FY21. However, the delayed compensation claim and phasing will have no impact on the lifetime revenues of the contract and the total number of cars to be built remains unchanged
Separately, the Company has three near-OEM customers who have each recently suffered either delayed start of production ("SOP") and/or production problems; This deferment of revenues by OEM 6 and these near OEM customers, as well as increased de stocking by aftermarket distributors (for Surface Transforms' retrofit market) mean the Board now expects to report revenue in FY19 of approximately £1.0 million.
The Company continues to have confidence in the significant potential of the near-OEM segment, none of the delayed sales have been lost. However the consistent experience of late SOP and production delays is causing the Company to review the near-OEM FY20 forecast, which hazards £350k of previously forecast FY20 sales.
Surface Transforms continues to believe that it will be able to announce positive developments on programmes with OEM 5 and the new model at OEM 6 within the next few months.
As previously reported in the Company's Half Year Results on 26 February 2019, in respect of the Company's aerospace activities, management continue to await the outcome of discussions between the landing gear manufacturer, airframe builder and the US DOD on the Company's request for pre-funding before undertaking any further work on the project. The Board had previously budgeted £200k revenue in FY20 from this project. Whilst discussions continue, given the time elapsed already, the Board consider it prudent to remove this income from current forecasts.
Kevin Johnson CEO commented "it is always disappointing to be reducing guidance but it is important to stress that none of the above impacts the future potential business with OEM 5 or OEM 3 or the new model at OEM 6. Furthermore the bulk of the changes do not reflect any changes to our ambitions or longer-term expectations in the aircraft or near OEM-market. The Company continues to see a significant business in both segments and will continue to vigorously pursue these opportunities.
"We have modelled the cash on these reduced forecasts and cash at 31 May 2019 is expected to be approximately £1.9m an