Member Info for JMUK26

Still keeping an eye on things here, having sold a couple of weeks ago. My rule was that if debt covenants did not get swiftly extended by mid Jan following the GRX update, or there was no communication on the strategic review then I had to get out. The poor return on GRX was the nail in the coffin for me and even future returns for next year or 2 may be hampered by the same performance clause and limit LCM's ability to get out of this situation. It's now the last trading day in Jan, covenants expire tomorrow, and LCM haven't assured the market, or provided an update on strategy. I think things are clearly very much on a tight rope here and one more bit of bad news is probably the end.

Agree - offers nothing of value to the board.

It’s 6 apartment blocks rather than 16. And if the total revenue for 6 apartment blocks if only 2.2m we may as well not bother as a business lol. It’s definitely 2.2m per block so around 13m total.

Having watched this one for the last few months, the stock is basically untradeable due to the spread, so whilst I don't disagree with the reasons for delisting from AIM, the way management have gone about it with that disgracefully short time frame, shows blatant disregard for existing shareholders here in the UK. Many of our major brokers offering ISA's do not support ASX, so if you acted quickly on the news and found a broker that could accept the shares, you had a small window to transfer them across before the deadline and pocket the price difference when it goes through. However the majority will be forced sellers, hence the price crater we saw. I wouldn't touch this company with a barge pole now, but hopefully the transfer across to ASX will go well for LTH's. GLA.

Good points well made by both on this. If Mkango truly are the lowest cost provider as we are led to believe (by some margin), then we are in the driving seat either way. We can pay more than our competitors for feedstock in order to secure contracts if need be, and although I don't think there will be any issue selling our magnets at market rate due to demand, we have the option to also sell cheaper than any competitor and still make more money than them. In all likelihood, I expect our magnets will be sold above market rate due to the low carbon certification which will be critical for locking in offtake agreements with large manufacturers who need to cut their carbon footprints. Very few suppliers can off them this.

Withdrawals continue but LIO is possibly reaching an inflection point, as they reduced outflows by 40% YoY. Looks like it is bottoming out finally to me. Hopefully by end of year the figures will start to improve.

Thanks for highlighting the RNS issued yesterday. LSE wasn't showing RNS's so initially missed it. The GRX news was initially a company saver in that it gave them a way to pay off all their debt, and it was just a waiting game for payment which will come. A major re-rate was potentially on the cards. However, with news yesterday that due to appalling recent performance shareholders are only in line to receive a relatively small portion of the overall award, then it is not the good news I understood it to be. It will go some way to paying down debt, but by the time they have received it (could be another 2 years maybe? and even then it could receive a haircut), it won't really touch the sides and debt will be piling up further in the meantime. There are no other major cases coming up which could materially help the balance sheet, so I have decided to reluctantly call it a day. I suspect creditors will extend debt covenants again, but I think the business will go into run-off now, and shareholders only get the crumbs - if any - at the end. Alternatively they will sell some cases but again I don not se material upside from here in the near term if this is the approach. I hope I am wrong for any long term holders choosing to hold on.

Thermolactyl - I think your figures are much lower than the reality. LCM is expecting to get £45-55m due to direct investment return, fund return, penalty interest etc. Once received, the NAV will be more like 55-70p most likely. It's just a waiting game now and patience needed from both investors and lenders. There is scope for huge returns here. Unfortunately I am a long term holder so a very long way off breaking even so may now do a large average down.

Big news for LIT and great comfort for it's lenders that if they just hold out for another year, they should have a big cash windfall worth many times it's current market cap. I suspect we will get an update on the strategic review very soon now as they will have been waiting (praying) for this news to land before they had to make any drastic decisions.

At the moment in a world of REE madness, it has all been a little too quiet at MKA for the market's liking. Albeit the AIM market has an appalling threshold for patience and just moves onto the next hot thing when volume dries up so it's not a surprise. I have committed to holding my entire holding until at least the listing occurs, to hopefully see a material re-valuation here (which I'm confident we will). We are also due an update on German factory as it should have started commissioning by now. On the back burner there is also the listing of Hypromag USA which will provide further value creation for holders if they have some patience.

Also they will have known for a few months that trading has been soft so why on earth did they ramp up share buybacks more than even when the share buyback strategy was actually in place? Why not wait until after they had trashed the share price to buy? It beggars belief the incompetence. New management team have a lot to learn, and quick. This is only going one way until they turn performance around, return to growth and actually use the cash effectively. This has now turned into a long hold.

Well, what a PoS update from Touchstar. Not good signs from the new management and this will as ever with AIM get absolutely hammered today.

I’m not sure how you expect the company to give you the information you requires bossman. This is a new company that has only done small one off projects before while they find their feet. Modular is all about scale and until they start delivering on the chile contract we are all going to be in the dark.

No worries luckylaurie. I will send on the company response as and when received. Hopefully all good news just not published. Fire is the critical one for me, if they have nailed that (and I struggle to see what could cause any issues as some fire boards are made from gfrc) then that is really good news particularly for anything high rise.

LuckyLaurie - I don't mean to be mean but I think your bullish nature means you haven't read my post correctly as you took it as a negative? Working in construction and in particular building design I have to know quite a lot about this sort of stuff and your post is quite frankly incorrect and misleading. I am invested quite heavily here, and don't really have any concerns that a GFRG material will achieve anything but high performance in a fire test, but I'd like it confirming to be sure so the market and it's potential customers are aware.

BS EN testing for say fire performance is broken down into fire insulation rating, fire integrity rating, fire load bearing capacity rating and reaction to fire (surface spread of flame) rating. The various ratings gives you the time in minutes it takes for the component to fail and typically range from 0 up to 4hrs. The company will have these figures, but they need to confirm them otherwise the statement that they achieve BS EN compliance is a little pointless. It is exactly like somebody saying they passed 10 GCSE's without knowing what grades they achieved. Was it an A or F for all of them? If it was all F's, great you have a GCSE certificate but it's the grade that actually counts. By not sharing this info it implies that the ratings weren't as good as expected, which probably isn't the case, they just haven't released the results for some reason. I have requested via email and will advise when they respond.

The TUV is simply the certification bodies that test the product against BS EN standards, it is absolutely not a pass only process lol - where did you read that? It is not well above BS or BS EN testing either - that makes absolutely no sense, the BS and BS EN are the test standard, you can't go well above them you just test to them.

If you don't believe me stick the RNS in Chat GPT and ask for it to be broken down in layman's terms for somebody not in construction. not meaning to be harsh here, just trying to make you aware that you are misunderstanding what the RNS states.

Uk housing market is a difficult one due to planning, so developing countries and Europe easier targets.

Company has done themselves a disservice by trying to compare their bs en test certification to British standards as the bs en test is far superior and opens the door to Europe. British standards test data is being phased out currently.

What they have not included is how the product performed? It’s like saying we successfully got a gcse but then not saying what grade. It could be an F, albeit very unlikely. I will contact the company for this info if. It published on the website, as this rns will not cut the mustard for their large informed investors.

It was a badly written last update with lots of reference to share buy-backs and then a single line at the end saying they were terminating the current strategy and buying ad-hoc as they see fit. However, since end of September they have released pretty much one rns per week on buybacks as per the last 6 months and actually bought up larger blocks. You can read it how you wish, my take is that the strategy went from a clear one (albeit it not being executed in any great number), to one that means they can just do what they want with no clear communicated boundaries. I don’t think it’s perfectly clear at all but just my opinion.

So after management said they were substantially ramping up share buybacks in June/july, only a few months later they then said buybacks were to come to an end at end of September and yet shares are still being purchased. The strategy and direction at this company is all a bit disorganised.

"Pk i am very certain in my mind doing the maths physiological analysis using research AND ai that a settlement is coming!!"

Lolz, what does that even mean other than a silly attempt to pump the stock? A settlement most likely will not come as India are stubborn and will likely want to prolong the process like most other countries do. Of course a deal may happen anytime, but AI and maths are not going to assist with that. Just use common sense it's easier. Comfortable either way here.

What a complete and utter disaster this company is at the moment. I continued to hold on the basis that a bad run of decisions was to be expected at some point. But this is different. LCM track record was around 95% successful outcomes, but we have now lost about 5+ cases in a row which is not bad luck, its poor risk management. The market has clearly lost all confidence at this point, as there is just no respite from the bad news. Management have a tough job to turn this back around. Patrick Moloney has lost a significant amount of wealth during this SP crash, so at least there is incentive to sort it out and bring value back to LTH's.