Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
To LTHs.
There is little point in highlighting ITX news on this BB, when some of the web links are such old hat. It smacks of desperation!
Whilst there is no hard news, it is futile speculating on what might be. It simply feeds into the hands of the day-trader market.
This SHOULD be a long-term investment. Trying to pump up the SP on optimistic speculation is a fantasy and never works.
Don't let the day traders win - some of them are pathetic with their persistent £10-£100 transactions, but the MMs know which way the SP is going and currently they hold all the cards.
Nothing we can do about it!
Again I repeat, patience is a virtue, if you believe in ITX, just lock them away and forget about them for the time being.
GLA
I agree with LV. With no real news on current trading, so SP will probably continue to drift - if you look at the share charts over the past 6 months or so, the SP only goes up on volume and tends to go down on persistent small sales (except 25 July 21).
Can't see FinnCap recommending its clients to invest here, whilst buying opportunities may present themselves at an even lower SP?
Also a possible cash-raising exercise in the near future? which would enable institutional investors to top up at a significantly cheaper buy-in price?? So why buy now?
Patience is a virtue....
GLA
Remember this quote from the greatest investor of all time, Warren Buffet:
"Successful investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant"
GLA
https://www.tandfonline.com/doi/abs/10.1080/25740881.2021.1991948
It is interesting that ITX have POSSIBLY found a unique TECHNICAL process for incorporating itaconic acid (extracted from oxidised starch) into the commercial production of certain composite materials...
The above weblink is a fascinating insight on recent research, which suggests it could be the start of a potentially new captive market...
Typo - sorry!...
Pepsin-degradable plastics of bio-nylons from itaconic and amino acids
by Japan Advanced Institute of Science and Technology
Pepsin-degradable plastics of bio-nylons from itaconic and amino acids
Figure 1. Development strategy for pepsin degradable BioNylons from itaconic acid and leucine. Credit: Tatsuo Kaneko and Mohammad Asif Ali from JAIST
Currently available conventional nylon such as nylon 6, nylon 66, and nylon 11 are nondegradable. On the other hand, bio-nylons derived from itaconic acid showed higher performance than conventional ones and are degradable in soil, but degradability via digestive enzymes was not confirmed.
To tackle these issues, a team of researchers from the Japan Advanced Institute of Science and Technologies (JAIST) are investigating syntheses of new bio-nylons with their degradability via pepsin enzyme. Their latest study, published in Advanced Sustainable Systems on April 2021, was led by Professor Tatsuo Kaneko and Dr. Mohammad Asif Ali.
In this study, bio-nylons were synthesized based on chemically developed novel chiral dicarboxylic acids derived from renewable itaconic and amino acids (D- or L-leucine). Further, bio-nylons were prepared via melt polycondensation of hexamethylenediamine with chirally interactive heterocyclic diacid monomers, as shown in Figure 1.
The chiral interactions were derived from the diastereomeric mixture of the racemic pyrrolidone ring and the chiral amino acids of leucine. As a result, the polyamides showed a glass transition temperature, Tg, of approximately 117 degrees C and a melting temperature, Tm, of approximately 213 degrees C, which were higher than those of conventional bio-nylon 11 (Tg of approximately 57 degrees C). The bio-nylons also showed high Young's moduli, E, and mechanical strengths, s, ranging from 2.2–3.8 GPa and 86–108 MPa, respectively.
Such materials can be used as a substitute for conventional nylons for fishing nets, ropes, parachutes and packaging materials. The bio-nylons including peptide linkage showed enzymatic degradation using pepsin, which is a digestive enzyme found in the mammal stomach. Pepsin degradation can connect with biodegradation in the stomach of marine mammals. This innovative molecular design for high-performance nylons by controlling chirality could contribute to sustainable, carbon-negative industry and energy conservation by weight savings.
Don't think I'm clutching at straws here, but we need to look more closely at JS's announcement on 22 Dec 21.
The fashion industry is going through a 'green' conversion. Apparently there is a green fashion material known as BIO-NYLON, which is spun using a polymer called CAPROLACTAM, a derivative from oil.
However, I found an article explaining how caprolactam can also be manufactured from the fermentation of sugar. I quote from Forbes website:
"As with most plastic production today, nylon-6 usually starts with crude oil. In this case, the molecule caprolactam is refined from crude oil and made into nylon. Every year, the world makes five million tons of nylon-6, which results in an estimated 60 million tons of greenhouse gas emissions. Producing nylon creates nitrous oxide, a greenhouse gas that is 300 times more potent than carbon dioxide. Manufacturing nylon also requires large amounts of water and energy, further contributing to environmental degradation and global warming.
Using a synthetic biology approach, Genomatica engineered microorganisms to ferment plant sugars to produce caprolactam, and therefore nylon, in a 100% renewable way.
"
Perhaps JS is looking at this lucrative industry to expand ITX's product range.
Any comments?
GLA
Now retired, I was FD of an LSE-quoted company in my time.
When we appointed a new Nominated Adviser and Broker, their strategy was to include all bad, negative news in the year of changeover. That way, they distanced themselves from the 'old' regime' and they were able to start the new financial year with a clean slate. Maybe some things never change, so here's hoping...
GLA
Trying to interpret latest update:
Cash at 31 Dec 21: $0.7m
Cash at 30 June 21: $1.4m
So potential second half loss: $0.7m - surely this must have reflected (insured) losses incurred from the disruption to trade resulting from storm damage to roof in Oct 21.
So if the 6 months loss is correct, it would imply cash runs out in less than 6 months BUT no mention of how much cash is recoverable from insurers to replenish cash resources.
Also, on an optimistic note, the latest RNS gives no indication of a pending cash call, so I reckon business may be significantly better than RNS suggests.
Not too worried with RNS. At 4p, company has a fairly nominal market cap of £17.6m, which will be a drop in the ocean of its true worth, if potential can be converted into sustained profitability.
GLA
https://www.cnn.com/style/article/notpla-seaweed-single-use-plastics/index.html
A link to ITX:
https://itaconix.com/wp-content/uploads/Tech-Data-Sheet-DSP2K-v1.0.8.pdf
Tricky - from your last post:
"......I had to tell a lie to tick a box to invoke an emergency ambulance.."
Are we surprised that you had to lie? I don't think so, you do it constantly on this BB!
Happy New Year to all...
Have we seen this golden oldie?
https://www.sciencedirect.com/science/article/pii/S030637472030066X?dgcid=rss_sd_all
Happy 2022 to all..
Thordon - unfortunately EFP filed accounts under Small Companies Exemption, so we’ll never get any additional information other than that contained in the RNS.
Hmm! Just caught up with video conference (unable to attend earlier).
Not sure what to make of it. Not much info following the RNS.
On the surface, it appears to be a cash generator, although pre-tax profits of £444k (inc. one-off freebies from Government pandemic support), only added £150k post-tax profits to General Reserves??
Also, whilst the two founder shareholders/directors are continuing to work with the Company, they are no longer on the Board - why? Presumably, they have moved on and will be 'contributing from afar'??
That said, if post-tax profits are going to increase from the current level of c. £150k, then with a prospective exit PE of around 9, it sounds like a good deal for purchasing a potential cash cow.
The jury's out on this one....
GLA.
Agree with you AJP.
An unexpected early Xmas pressie with these two positive RNSs in two days.
I'm assuming Finncap advised to drip-feed the news in this manner for maximum impact, rather than incorporating it all in one RNS.
This is all we have wanted from the Board - inclusivity on what's going on. Well done!
Wishing all LTHs Festive Greetings and a Prosperous & SAFE 2022.
GLA
For ye. 31 Mar 2021, TLY revenue of £113m generated an EBITDA of £5m. For the same period, EFP made an EBITDA of £444,691 on sales of £983.708 - v. impressive!
I note however, that there is only a mention of EFP's GROSS assets, being £987,000, which is a bit meaningless. TLY must surely know the NET assets being acquired, so why not tell us?
Unless of course, it turns out that TLY is acquiring net liabilities?
I just find this element of the RNS a bit odd - an opportunity missed, IMHO.
GLA
It's just been marked up here.
Not shown on this BB: 16.01.08 - Off Book Purchase, 221,000 shares @4.88p
GLA