Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
The coal exists, given the countries power demand it make sense..
As for why the market doesn't believe X multi billion quid project will happen.. its simply because this jam tommorow nonsense has been going on for a decade or more. I remember the first Chinese deal in 2016.
Good luck LTH. Hope it works out.
Well yep but decent mid term hold in my view. Just topped up this morning.
Well that was obvious. Anyhoo, on a legal note...
The raise was at 0.1p, these shares have a 0.1p nominal value. You can't issue shares for less than the nominal value they legals and accounting doesn't work. So next raise will be flagged as they will need to do a consolidation the same time or will have to be at the same price as this one.
Shabby management? It's all detailed in the accounts nobody can be bothered to read.
Wages all staff excluding directors $1.6m, wages directors $2.4m, directors bonuses $490k.
Related party note:
"Property
The Company holds an option to acquire a property at market value from Mr. Fanning. The option is due to expire in 2026 and the option fee of US$409,000 is included in other debtors (Note 17) and is refundable when the Company either exercises or terminates the option. Mr. Fanning was paid US$323,395 (2020: US$215,999) rent for the use of this property during the year by the Company."
Right so as well as the salary, he gets paid for an option for a house/flat/whatever he owns and he hasn't paid the premium (included in debtors) but was paid 324k USD for it.
Remarkable.
I don't know how you get to a cash burn of 200k per annum.....
It you look at the last filed accounts 2021, loss for the year was 882k, cash lost from operations was 1,043,308 they do a full cashflow which is nice. Of which 245k was directors and another 300k was staff.
2022 cash position would be nice to work from but don't think it's been published yet.
Fall clearly results based with some extra from general SVB fall out. Note bgcp was down 0.2% yesterday not 6 or 7%.
Liquinet doesn't look good which is a worry. Rest look ok.. but voice so like those SVB deposits priced down as flighty.
The whole data sales piece showed a distinct lack of knowledge of how these buisnesses work by the press and implied valuations.
Yes data sales carry a huge contribution to the bottom line of IDB's but only as they get their raw data for free from the IDB's broking desks, trading systems etc.
If sold... It' has no data to sell on. It then needs to buy from old co the data one presumes which in turn takes a huge knock on the valuation, total reliance on one counterparty, reduced profit margins etc etc. It's no surprise any sale has been called off.
You are correct it's 4 projects each supposedly of international importance, with a total 3 staff headcount one of which fair to assume is an EA/secretary for the directors and one the finance man/woman. CEO Salary is 150k /225k (2021 and 2020) as disclosed.
Good luck, I expect there will be news as there has been for all these years, allowing those with recently issued shares (and sometimes 1 to 1 warrants) to exit. People do make money and best of luck if holding for long term is the plan. Last post as not a holder (haven't been since ramp to get rid of the warrant exercises at 0.25p was rife).
Amazon is subletting its warehouses or some of them at least. Also follows a large rise as in a checkback. Personally still think development land held is worth more than now priced in (but less than at 230p a share like it was)
Old jam tommorow still going strong for those taking a salary.
Enjoy that notion that thyssenkrupp has been commissioned to undertake a feasibility study no less it must be real. Erm... You can pay PwC £30k to do some report and they have 50,000 employees! Nonsense.
Just look at the last set of financial statements for average number of employees here.. and convince yourself it's real. Best of luck all, those that make money out of this arnt holding but trading
Nice tick up yesterday, in this for medium term at least.
Has anyone seen any reference to switching to qrly dividends like other reits? Must have the scale to allow that cashflow soon.. one would hope..
Don't think any? Of their holdings are close to being IPO ready sadly. Lots of junk in their valued at finger in the air levels which the market is pricing in.
Might be worth a punt at 15p but it's a cough gamble..
Well no, as the NAV is fictional given a lot of these holdings have no real market for any volume. Or are even unlisted.
Try to sell this stuff and you wouldn't get close to NAV in total in the real world.
Not sure where the bottom is here. There might be a wind up in the end or a consolidation but sadly don't expect nav.