Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Legache we all have to make our own minds up.The facts are the facts.The main issues here are the Egyptian sale and the dilution on the conversion of the Aleph loan.Past history of previous management incompetence is just that,history. In my opinion the new guys are on the ball,savvy on finance and dealing.In general small caps are a no go for most investors at the moment but once the sale is confirmed this should fly.If the current deal is aborted there were other interested parties so not a catastrophe
Yes but it seems a no brainer to me if the Egyptian sale goes through and there is no indication it wont.There were multiple bidders anyway.I expect the proceeds to be at least the whole market cap ie £8.5m leaving Morocco in for nothing.The size of the 2 businesses are roughly equal although Morocco has more debt .So the share price seems bonkers to me but I havent mortgaged the house...yet !
I have rewatched the video with Daniel Gould and having met him,this reinforces my view that the new brooms at SDX are the right people to recover the lost years of Welch and Reid.The team are entrepreneurial with lots of experience in finance and corporate action.Daniel seems very optimistic , although nothing more yet on Egypt,obviously a banned subject.
Per ardua ad astra !
The roadmap for Morocco is still not available despite it being promised’imminently’.
It would not surprise me if the Egyptian buyer is negotiating to buy the whole of SDX in view of its dominant position in the Moroccan gas industry