Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Missed the live performance, but seen the replay.
Indeed exciting times ahead. Got worried when JS started off talking about 10 million DOLLARS of fund-raising, before realising it was in POUNDS. These little things are irritating, to say the least, and shows lack of preparation (IMHO)....
Unfortunately, JS is extremely frustrating to listen to (Peter was better), as he doesn't rehe**** before presenting. It's simply not one of his skills - I wouldn't want him summing up my case, when trying to convince a jury of my innocence!!!
Also, he still glosses over any timeline, as to when the Company is likely to convert its wonderful opportunities into cash-generating profitability.
It can't be healthy to keep on seeking funds to create new products - surely we should be focussing on producing profit from existing products and ploughing some of those profits back into development of new products.
Sorry if I keep banging on about profits rather revenues, but I do so because I firmly believe that we will only get re-rated as a formidable force in global bio-products, when the market is convinced that we are a PROFITABLE long-term commercial enterprise.
GLA.
A good by-product from the RNS is that the day traders will probably move on, as there's not much margin to trade with @ ITX.
With the SP almost underpinned @ 5.1p and no anticipated TU until late Apr 23, why would day traders waste their time here dealing in scraps?
Sellers now will be those investors who don't have the same long-term perception, as those who wish to remain.
Their loss - IMHO........
GLA
Smart - I agree entirely with your latest post. Amid the euphoria of the successful placing, we must not ignore the trading results for H2 in 2022, which frankly, are not great, as they show no improvement on the first half year.
Personally, I don't understand the comment that the revenues of $5.6m are "ahead of market expectations". Firstly, we are not given the figure defining 'market expectations', so it is a subjective expectation. Secondly, $5.6m revenue in H2, means that H2 revenues will be $2.6m (a 10 per cent decrease on H1).
Also, H1 EBITDA was a loss of $640k. So, with 2021 EBITDA being a loss of $1.6m and 2022 EBITDA "being an improvement on 2021, that means an H2 loss in 2022 of around £1m, which would be a 50 per cent of losses on those incurred in H1 of 2022.
Whilst I acknowledge that once again, we are promised jam tomorrow, I am confident that, with the new Board appointees, JS is getting the right personnel around him to take this company to a higher and successful level.
GLA
....to finish my point:
I was suitably impressed with the fundraising at no discount to the current SP. That says a lot for the passionate assurances given by JS and his Board in order to raise this much money at this stage in the Company's development - well done him!
Once the share consolidation is out of the way, we can look forward to an exciting ride with a product range ideal for the 21st century.
GLA
Molson - I would add that potential US investors would want to see unencumbered cash in the bank, rather than borrowings secured on highly valuable intellectual property.
I was suitably impressed with the fundraising at no discount to the current SP. That says a lot for the passionate assurances given to of JS and his Board
The strange thing here is that many companies give a future date, when the TU is going to be released.
Nothing from JS on that point. And no guidance from ITX’s Company Broker. Definitely run like JS’s private fiefdom.
He shows no real concern about other shareholders ‘ interests , unfortunately .
DYOR
I think this BB has been invaded by kids!
Radium, are you a grown up? Sending this ridiculous missive about TRMR angry investors holding a 10-year grudge - how childish?
Are you really serious, or is it just that you've seen too many showings of West Side Story.
Do you really think that someone like you, who is uninvested in TLY can really influence the minds of serious-minded investors here?
So what exactly is your endgame, here? You aren't really trying to panic investors into selling shares. Surely you would like them / us to keep them as long as we can and watch us go down with the ship?
I really don't understand why you comment here! In the meantime, I'm tremoring in anticipation of your next response - sorry Radium - couldn't resist it!!!
Or could you? My PURCHASE of 15,000 shares @ 25.09p was marked down as a Sale. They just look at the transaction price and hazard a guess as to whether it’s a Buy, or a Sell.
Worryingly pathetic for a professional BB.
DYOR and GLA
Radium:
Look carefully!!! - I was addressing moniman. But if you're taking it personally, perhaps you and moniman are the same person?
moniman: This is someone, who after making nearly 8,000 posts (mainly on THG, which incidentally went public @ £8 in Feb 21 and is now down to 50p today) has now migrated to our BB, unfortunately.
There appears to be a bit of a Losers' Club building up here (him and Radium being founder members).
Listen to them at your peril, or just laugh your socks off!
Warren - let's hope you're right on the timing of the RNS.
In the past 3 years, TUs have been announced in January. Markets always react to unforeseen delays and uncertainty. Often they add two and two together and make five!
Let's hope the Board bears this in mind, when setting the date to release its next RNS.
GLA
Radium - straight from TRMR in its RNS last month:
Pursuant to the previously established non-discretionary Rule 10b5-1 Plans, Ofer Druker, Chief Executive Officer, is expected to sell in the future a further portion of such newly issued Ordinary Shares to cover tax obligations triggered by the vesting of the RSUs announced on 29 June 2022. Once such sales of Ordinary Shares occur under the non-discretionary Rule 10b5-1 Plans, such dealings will be reported.
Perfectly acceptable reason for selling shares to meet a large tax liability. Move on….
18 July 2022
The NHS North West London is inviting local residents and stakeholders to attend an online session to find out about the new procurement currently underway to run six urgent treatment centres (UTCs) in the region.
The UTCs we are looking for a new provider are:
Ealing, Northwick Park, Central Middlesex UTCs (London North West University Healthcare NHS Trust).
Hillingdon Hospital UTC, (The Hillingdon Hospital NHS Foundation Trust).
St Mary’s Hospital UTC, (Imperial College Healthcare NHS Trust).
West Middlesex Hospital UTC, (Chelsea and Westminster NHS Foundation Trust).
We expect the new providers to be in place in early 2023. This will allow us to provide continuity of service provision over the busy early winter period and holiday season.
The current contracts for provision end on 31 November 2022. The contracts will be for three years, with an option to extend for a further two. The current budget across all services is c£26 million.
The above news, that Greenbrook were not getting the new contract, has been around for months, so latest RNS says nothing new.
Bit worried that the contract finished on 31 November, which is not a date on my calendar.
Let’s hope that the new provider checks that its new contract doesn’t start on 31 February 2023…
Radium, it’s interesting (and entirely predictable ) that when you have run out of things to say, you cut and paste the views of others, in an attempt to justify your previous comments - must be getting desperate, me thinks.
Don’t notice you employing that strategy on TRMR - I wonder why?
After over 3 months in hibernation, welcome back Radium (top advisor on TRMR, which has dropped a further 60 per cent in past 18 months) .
Nice to see you're taking a much more positive view on TLY - your deep sleep has worked wonders for your investment advice - and a Happy Optimistic New Year to you!
TLY wouldn't be that daft to terminate a contract only 6 days from expiry date and risk being in breach - surely?
So can only assume that UTC is the party in breach, resulting in TLY triggering its right to terminate and having recourse to whatever UTC's breach could imply.
Drop in SP grossly overdone IMHO, but that's the AIM market for you - never a dull moment.
GLA
Check Bubs out on SBTX - a miserable muckraker. Just Ignore him /her/ they and hopefully, will eventually move on. Never had a good word to say about any share!
Bubs - your first post on this BB and frankly, you don't know what you're talking about. If you're attempting to talk the SP down to buy, today is probably your best opportunity.
That said, I agree with unhooked, that there is a bit of disingenuousness going on here from the Board.
TLY would / should have been given advance notice, if the contract was not going to be renewed. So yesterday's RNS (one week before the end date), in my opinion, is not being completely transparent with shareholders.
And I would be more annoyed if, at the time of the July 2022 RNS, the Company had already been put on notice that, on 31 Jan 2023 the contract would not be renewed and the shareholders were not told.
Given the current (short term) negativity, perhaps the Board would reveal precisely when it first learned that the contracts would not be renewed - surely it wasn't yesterday??? That's the only issue which concerns me.
Notwithstanding, still a great company making a lot of profit and a fundamental part of the NHS's private equity partnership.
GLA
Smart - you & I seem to be on the same wavelength.
At the end of the day, the success of a company in its relative infancy such as ITX, will always be determined as to how quickly it can convert development losses into positive cash flow. And that can only come from profits, share placings, or bank borrowings (or a combination of all three).
Since last September, the company has been remarkably quiet on the need to issue new shares and if there aren't bank borrowings, then perhaps there is a distinct prospect of a faster than expected move toward profitably. If the latter, then that would give ITX a totally fresh perspective as a long term investment.
Exciting times ahead, but ITX is definitely not for the faint-hearted....
GLA
Recap: Company previously covered trading losses by issuing shares via. a private placing, the last one being in April 2022 raising $300k.
Cash balances @ 30 June 2022 were $900k following H1 losses of $1m.
So if H2 trading losses is a repeat of H1, then the cash balance of $900k would be wiped out by December 2022 and presumably, there would be no funds going into 2023.
But the good news is that we haven't had any RNS since April 2022 announcing any new fund raising exercises.
So does it imply that trading in H2 has improved dramatically and cash is being generated from profits being made in H2?
Personally, I find that really hard to believe, so the only explanation is that, perhaps the Company has secured some bank borrowings, instead of issuing new shares to keep going.
That's why the next trading update is going to be fascinating to see how it is planning its future cash requirements.
Remember, CASH is KING.So here's hoping....
GLA