Member Info for Licancabur

Another day, another broker downgrade.......

Bellers I saw your tweet and fully agreed with the sentiment. I wish that management would stick to their knitting.

Jatw - AZ may not have the visibility in the US of the biggest American players but it has a sizeable operation in the States, dating from long before the Alexion acquisition. Crestor, the world-leading statin treatment, is one of several high profile drugs with which Americans have long been familiar. Recent share price movements have mirrored changing sentiment in the healthcare sector and are not related solely to AZ.

JNONES I couldn't agree more. We need much more clarity on the state of play regarding fulfilment of orders. The board has, as you suggest, been complacent following the ease by which they have managed to raise funds In the past and are happy to burn through cash in the expectation of being able to do the same again in the future. This is not good enough. Financial discipline is essential to any successful company and especially to one which is developing new and important technology. The markets have already madet heir judgement on ITM. It is up to the BOD to prove them wrong but I'm not holding my breath.

Interesting to hear your take on this Bilbo - I wonder if there is any prospect of a factory visit in the foreseeable future. I feel that as shareholders we need to find out more about what's going on. If these are just teething troubles then we need to know.

Dear oh dear. It just gets worse.

https://oilprice.com/Alternative-Energy/Renewable-Energy/Europe-Aims-To-Build-Green-Hydrogen-Corridor.html

Disappointing progress to say the least. However it is worth reiterating that Jaguar Land Rover has concluded that FCEV is the only practical option for their larger vehicles and presumably they expect to have a viable refuelling structure in place by the time production begins. Even the FCEV-averse VW Group has accepted the H2 option for its Audi subsidiary and BMW has always been on board to some extent. It will be interesting to see whether advances in BEV technology affect this timeframe. I have to say though that I have pretty much lost patience with ITM.

The next dividend will be announced with the interim results on November 15th.

This is very good news. At least the Norwegians have got the message.

Not a complete surprise that the CEO is resigning, given the collapse in the share price. Maybe this will be a cathartic moment for the company. We shall see.

You're right of course Bilbo, the results will probably not tell us much that we don't already know or suspect but an indication of increased turnover might help. The shareholder communications from the BOD could be a lot better, as you say. The silence merely perpetuates the suspicion that things are not going well.

I guess the results, when they do eventually arrive, may give us some indication of progress or otherwise. Personally I am not hopeful, based on previous experience of ITM reporting, but I would love to be proved wrong.

Inclined to agree with you there. Concentrating on getting orders is the way to convince investors that ITM is worth backing. The share price keeps going down meanwhile.

If it's any consolation, the mm02 business was valued at zero by one analyst soon after it emerged from BT and within a year or so had been sold to Telefonica for £18 billion.

Bellers is there much sign of activity at the factory? If we had some evidence of increased deliveries then the share price might improve.

https://www.bp.com/en_au/australia/home/media/press-releases/bp-to-lead-and-operate-one-of-the-worlds-largest-renewables-and-green-hydrogen-energy-hubs-based-in-western-australia.html

I see that BP have paid an undisclosed sum for a 40% stake in an Australian renewable energy project which includes a large green hydrogen element. A sign of things to come hopefully.

A big cut but only to be expected, given the lowering of target prices by other brokers recently. The days of £6+ are far behind us unfortunately. Once again we will have to wait another year in the hope of better news.

That's really what we're all thinking isn't it? I never have much optimism regarding ITM's results but would love to be proved wrong.