Member Info for justdeezerts

no idea! - here's one website's positive analysis of yesterday's company announcement:

"

bab**** international has continued its share buyback programme, repurchasing 6,542 ordinary shares on 9 february 2026 via j.p. morgan securities at an average price of 1,422.3823 pence, with a view to holding the stock in treasury.

since the programme began on 24 july 2025, the company has bought 7,968,699 shares for £89 million, leaving 6,165,739 shares now held in treasury and 499,430,858 ordinary shares in issue, moves that modestly reduce free float and can enhance earnings per share for remaining investors.

the latest transaction underscores bab****’s ongoing capital management strategy, signalling confidence in its valuation while returning surplus capital to shareholders through reduced share count. maintaining the purchased shares in treasury also gives the company flexibility for future uses such as employee share schemes or potential strategic transactions without issuing new equity into the market.

the most recent analyst rating on bab stock is a hold with a £15.54 price target.

"

...and a follow up on price of cobalt:

Cobalt prices surged dramatically in 2025, starting near nine-year lows in January (around $24,343/mt) and skyrocketing by year-end (to over $53,000/mt) due to supply shocks from the Democratic Republic of Congo (DRC) banning exports, shifting the market from surplus to deficit and creating volatility. The DRC's export restrictions and subsequent quota system significantly tightened supply, with prices for metal, sulphate, and hydroxide increasing hundreds of percent by late 2025, leading to a bullish outlook for early 2026.

Cobalt is a critical material in the development and production of hypersonic missiles, primarily due to its ability to maintain structural integrity under extreme heat and mechanical stress. It is essential for producing high-temperature superalloys used in propulsion systems and warhead components.

It is suggested that, based on 2025 projections and recent portfolio shifts, cobalt is expected to account for approximately 29% of Ecora Resources' total portfolio contribution in the medium term (3-5 years).

DYOR

Do we think this shorter (c. 2m shares @ 66p since July 2025) is still having to close their position, or has it been closed and simply not notified.....

DYOR

As an LTI, here’s my current take:

1. Regrettably and typically as with previous TUs, we tend to receive information on a ‘drip-feed’ basis - I guess we will have to wait for a full update in March.

2. Yes, record $10m revenue is great, as long as we are moving towards bottom-line profitability - we need an assurance on this point, otherwise current (and potential) investors will be hard-pushed to be convinced that all this hard work over many years will ever result in a profitable business.

3. Hoping that the March update will also give us the current cash position- I find it extraordinary that JS did not realise that failure to disclose it NOW, would seem a big negative sentiment.

We live in hope…

DYOR.

SpaceX is actively planning to develop space-based, solar-powered data centers by leveraging and scaling its next-generation Starlink V3 satellites. This initiative, confirmed by Elon Musk, aims to meet the massive energy and cooling demands of the artificial intelligence (AI) industry that are becoming increasingly difficult to manage on Earth.

Vision and Timeline

The plan involves transforming Starlink from purely a communications network into a distributed computing platform. Musk has indicated that simply scaling up the upcoming Starlink V3 satellites, which feature high-speed laser links for satellite-to-satellite communication, would work. SpaceX intends to use its massive Starship rocket system to deploy these satellites, potentially launching 60 at a time as early as 2026.

Key Advantages in Space

Proponents of space-based data centers, including tech leaders like Jeff Bezos and Google CEO Sundar Pichai, point to several significant advantages over terrestrial facilities:

Continuous Solar Power: Satellites in certain orbits, like sun-synchronous orbit, would receive near-constant, unfiltered sunlight, providing an uninterrupted power source and eliminating the need for extensive battery storage.

Natural Cooling: The vacuum of space allows for passive radiative heat dissipation, significantly reducing or eliminating the massive energy and water consumption required for cooling on Earth.

Reduced Latency: Data traveling through an orbital mesh network via laser links can potentially offer lower latency for intercontinental communication compared to ground-based fiber optic cables.

Scalability & Land Use: Orbital infrastructure avoids the real estate, zoning, and environmental conflicts associated with building massive data centers on the ground.

There's only one person who knows what's in store for investors at the next update and that's JS himself. If he's true to his word and things are really are on the up, then he should be picking up these shares at this knock-down price. If he's not, God help us all!!

2,000 @ 296p was a buy - I should know...

I suspect that the deals @ 297.78p & 298p were buys, too!

Bod - look on https://simplywall.st/dashboard

I beg to differ, Elsol - this is not a trading stock, how can it be?

There are 25 shareholders tightly holding 84.25 per cent of ITX shares in issue.

In effect, the remaining 15.75 per cent held in the public domain is an unexciting marketplace, where transactions are done on a 'willing buyer, willing seller' basis.

With MM's seemingly unprepared to hold ITX stock for any length of time, they are limiting deals in nominal volumes only (provided they can match up sellers & buyers for such small volumes).

So (IMHO), if you are a prospective seller, there will be few opportunities to find a matching buyer until the next piece of positive news is announced - hence the current SP drift.

So for us LTHs, we simply need to sit tight, forget about ITX and wait for a positive and encouraging TU next January.

In the meantime, a Merry Xmas and a Happy 2026 to all...

Hi AJP - BTW, you really are an asset to this BB - many thanks for all of your hard efforts digging to find some nuggets of comfort for LTHs over the years. You must have been a gold prospector in a previous life.... ha! ha!

You are correct about the rules and I wasn't suggesting he should have revealed anything in the presentation, which could be seen as share price sensitive.

But he had a great opportunity to indicate a hoped for break even date in the RNS announcing the H1 interim results - not too difficult...

No doubt Canaccord know it and discretely use it to tempt future investors. So why not current investors, who have already committed their funds over the years?

AJP - I think JS has already initiated the 'hammering' process by suggesting as the CEO, that he is quite unable to indicate (that all we're asking for, an indication) when he THINKS the Company will break even.

He has already announced a reduction of the $800k loss made in H2 of 2024 to a $200k loss in H1 of 2025.

So, if he doesn't know by month 9 of this trading year that we may still not be at a break even point sometime during the second half of 2025, then there is something seriously wrong and frankly somewhat discouraging.

Investors should not be taken for idiots, especially as it is highly unlikely there will be any positive news forthcoming until next Spring, at the earliest. It's not the Board's style to change a habit of a lifetime

Thanks Smart.

Didn't have access to the broker's forecast, so that extra info is much appreciated.

Yes, lots of positives, agreed. But a couple of negatives in the small print.

Under 'Current Trading and Outlook' the Board once again failed to tell investors when ITX is likely to break even:

"Looking ahead, we remain confident in delivering on the Board's full-year expectations for 2025 and in our mid-term path to profitability."

What on earth does "mid-term path to profitability" actually mean? Don't they have a target date in mind and if so, why not share it?

The RNS already stated that the EBITDA for H1 (2025) showed an impressive REDUCED loss of $200,000 compared to a loss of $800,000 in H2 (2024). So simply on trend, surely that indicates a potential profit expected for H2 (2025)?? And after all, we are almost halfway through H2!

By not confirming this logical assumption to the rest of us, the Board continues to sow seeds of doubt as to whether ITX will ever deliver profitability in the immediate future. Without it, Canaccord's target price of 325p remains a pipe dream.

Great questions and thanks to all who contributed to them.

Looking forward to Monday's meet, albeit a little apprehensive as to how JS will handle some fairly awkward questions (that's if he is prepared to answer them).

No longer interested in revenue, we need to know when ITX will become profitable - he owes it to us!

That is the only way the SP will move north.

There are no more places to hide, John - "The Emperor's New Clothes" and all that.....

Fingers x'd.

Hmmm!! I am a new investor here (basically for the high dividend return), so have not been deeply involved in past baggage - on reflection, perhaps I should have done.

However, Terry has made a good point on the sudden departure of a non-Exec on the Audit Review Committee, so perhaps the Board does need to make a further reassuring comment here.

Also Ms Stash appeared to have held 45,000 (UK registered) shares in September 2023 but has only a nominal stake now.... Again requiring clarification and hopefully all is well.....

Seller was an investor who originally had 20 per cent of BPM (bought in 2018 @ c.250p). Investor was recently taken over in May 2025 and new owner sold half of its stake in May 2025 @ c. 630p. Now they've sold their remaining holding @ 650p. Presumably didn't fit in with their future plans and a nice exit profit, too.

Good to see BM buying 300,000 shares of the secondary placing @ 650p, especially after H1 has just ended.

So now that the overhang has gone......

Completely agree with you, Smart.

However, when JS does his interviews, unfortunately he still projects himself as Billy Graham (evangelist) rather than Benjamin Graham (Warren Buffet's investment mentor). Not necessarily a bad thing, but...

Patience is definitely a virtue as an LTH in ITX.

"Unaudited net cash and investments as at 30 June 2025 stood at $5.7 million, down from $7.8 million at 30 June 2024, largely reflecting investments in raw material and finished goods inventories."

Disclosure of cash movements from one date to another is vital in forming a view on how a company has performed in that period under review.

Cash movements can result from the following:

1. Increases / decreases in assets (as disclosed in the RNS extract above).

2. Trading profits in a period having been converted into cash will increase company funds, or conversely, funds will be reduced if they are being utilised to shore up continuing trading losses for that period.

By disclosing the reduction in cash by $2.1million, the unaudited trading results are clearly known for the half-year.

In the latest RNS, point 1 was partially covered, although regrettably no actual numbers were offered. Had these figures been revealed, investors would then have been able to calculate (point 2) how far away we are to a break even position trading-wise.

So, why not give this information to investors NOW? A continuing lack of total transparency leads to uncertainty and does nothing for MMs to assess what is fair value for the current SP.

DYOR

As a LTH with a significant holding, I am concerned that the TU has not yet been released. Nor has there been any indication from the Board as to when it is likely to occur.

We have to go back to 27 July 21 when the TU was this late (typically, it has been announced around 12/13/ 14 July).

Also, the timing of the announcement of the launch of our commercial plant-based product on 1 July 2025 appeared somewhat strange, when the TU was expected (by most of us) to be released some two weeks later.

I hope I am wrong in having the feeling that the 1 July RNS was to offset a disappointing set of trading results in the forthcoming TU, whenever that will be.

Squeaky b*m time...

Just saying... DYOR