Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Agreed - at start of play the placing was for 1.5m at 1p - from a £6m mcap.
So yes, a massive discount, but actually only a dilution of 25% or so?
If they had raised £10m at 1p then yes - I get it .... But a drop to 1.2p from 3.5p is a total overreaction - especially when you consider the director has put cash from his own pocket into the placing.
True value here is 2.0 - 2.5p given the above.
Only off tiny late reported trades... A few 1.50's popped up throughout the day but I wouldn't pay much attention.
True spread at close was 1.34 / 1.22
A 10% spread is something the MMs will need to work out tomorrow to create some liquidity
Based on a 1.50 close, will almost certainly open up "10% down"
A £2m mcap at this levels is far, far too little. Growing company with regular contracts, now with a significant cash runway.
I suspect 100% gain from these levels isn't at all impossible.
Anything around the 1.2p mark looks good for a bounce and recovery over the coming weeks
This reminds me of Sirius.
Good luck all.
Have only very briefly read through the merger RNS - but with dividends to be paid and shares in FinnCap issued - looks a no brainer at 39p
20% increase in net and gross profit in FY23
Has to be back to ATHs.
Anything under 400 is too cheap.
I think a RNS tomorrow morning confirming receipt of the money would be welcomed - but I wonder if the wider market fallout from the collapse of SVB may hamper significant price increase... MM's likely to have an absolute field day tomorrow.
Given the state of all my other investments currently, I've doubled down here. I see this as as certain as you can be of a 10% ROI as a bare minimum... Obviously the cash shell will have an intrinsic value based on residual cash, but I see that as a bonus.
The cash receipt RNS could land at any point and lock out any potential new investors, so get it now whilst you can.
I would expect 1.9p on news of receipt of cash consideration.
Googling "how long does an international transfer take" overwhelmingly returns the same response from various outlets - 1 to 5 working days depending on currency, size and checks at either end (country dependant)
I think we will probably hear something Monday morning. Anything before is a bonus.
So if the company is sold for £1.2m, does that result in a special dividend to shareholders?