Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
To me its obvious that the licence deal is a game of poker......AAOG are saying 'yeah there is nothing there you may as well give us 80% or so' and SNPC are saying 'well if there is nothing there why do you want 80%' so badly. JB is having to play it a casual as you like to balance current/future monthly payments vs new %age without seeming so casual that they decide to chuck it out to some other firm.
Accepting the final accounts will be the headline. It will happily coincide with some other positive event though. I am hoping this is h beginning of them setting things up for SP improvements. If it is ANYTHING negative (more shares, change to finance setups, JB leaving, no licence, Congo being bought by Dubai and cancelling all contracts) then we will have a tough time SP wise. Its on a Monday - good news on Mondays and bad news on Fridays right??
Sardy - real men shave their balls dude. ;)
Maybe. Its always interpretation though isn't it.
Anyway, I have just averaged down my daughters ISA to an average of 7.2p. Yay.
I emailed James Cane and DS and nothing from either.
I note last year at the GM it coincided with...
David Sefton, Executive Chairman, commented: "I am very pleased that the accounts have been received, and note that, at the same time as the meeting this morning, the ship transporting the rig to drill TLP-103 arrived in Pointe Noire. Thanks to the excellent work of the team on the ground, customs pre-clearance had been obtained at Pointe Noire, as it had for embarkation at Port Gentil earlier in the week. As a result unloading and transportation of the rig will commence today. We will update the market once all equipment is on site and rigging-up is complete."
There was a GM (vs AGM) earlier in the year but that was to confer the issuance of 95m shares. I am sure that we cannot issue any more so I am hoping this GM will have some positive news associated with it.
J
Yep no great loss. I am bored of the nob heads spouting off opinion as fact. If her truly made his investment decision based on a few lines in a BB then that is quite scary.
I was sat with him when he got the call for the June payment. The payments aren't an RNS topic surely.
When I sat next to James Cane at the AGM he seemed confident that SNPC were going to continue to pay up every month with increases each month. His expectation was that by August they would be paying over $1m a month.
I guess he should know right? Oh and Brian Moritz, (you know, the board member with a publicly owned significant £ holding initially brought at IPO) was nodding in agreement.
Where does your info suggesting otherwise come from?
A sea of red sells this AM and no price drop...
Agreed all the talking has been done. I know its the Congo, I know its Africa. I just hope that when the news starts to come it is what we want and we don't get shafted. As someone has said before it is now surely a matter of logistics to sort out getting the stuff out of the ground and selling it on.
Share buy backs are for CEO with no better ideas on how to create value. If they have cash I would want it returned to shareholders or used to create value i.e. drilling more wells and creating a very sustainable Tilapia business THEN buy other assets and send DS off on vanity missions.
While I like the numbers a 1.2p divi doesn't do much for the SP. If that was an implied 5% yield then the SP is around 24p.....not that exciting. TipTops 5p divi (assuming a 5% yield) is more interesting.
If you drop the yield to say 3% then we get an implied 40p for gmcc and...well....a very nice number for TT.
Right now, if there was any divi available between say 1p and 5p then our SP would be flying. At 5p (ignoring the SP) then I'd be paying my mortgage from these guys. But then if the divi was 5p and the yield was 3% then at £1.66 a share I'd have sold and wouldn't have a mortgage.....and I'd be looking to buy up a nice villa in southern France from some Brexit fearing expat.
Some good buying action from 1530 onwards.
At the AGM we discussed November as the available dates for the rigs. Drill time was estimated at 3-4 weeks. Possible first oil sold in Jan. Start small then build up to max volume over a period of weeks.
I’d love a rig on site in September. If that we live it would catch a few out but we need a hard date before the SP will move.
According to DS the oil is seeping out at about 6 bopd for what it’s worth.
The licence and PP are inextricably linked and in my view we will get both in quick succession. I bet that part of the licence agreement requires adequate funds. Hence the funding activity. Once sorted I bet we get the licence and PP.
Hopefully one of the rigs can be confirmed for the November target. 30 days later and fingers crossed we are in business.
TipTop
I asked DS at the AGM if he would and he said he and James will be buying soon. My suggestion was a meaningful sum and said 10 to 20k in GBP terms would be a minimum requirement.
He advised it would be released to the market when they do.
J
Do you know why the CPR wasn’t sought? Is it possible as a shareholder that you might support the reasons? Is it possible Nutech predicted a higher flow rate than EVER seen for Djeno? Has that been a big issue raised? Was CPR swerved to crack on?
Wrong. The licence isn’t issued to AAOG.
Do your homework.
He had a personal 121 with DS before the AGM.