Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
It doesn't have 10m income, its own broker (Turner Pope) wrote in April that : "the Board presently concludes that full year 2022 revenues will likely be in the range of c.£7.75m to £8.60m, compared with the figure of £17.20m provided by the previous executive management team." It's going to make a pre-tax loss and has £1m in cash as of 17th April.
A fundraise must surely be needed and soon. I assume this is the pump before the raise is announced. I may be wrong of course. DYOR etc.
Has anyone actually got any news re. this stock? I assume the rise is speculation of a fundraise. However, won't any raise be highly dilutive and possibly result in a share consolidation? Thoughts anyone?
Well, I think SEE has to a) Get the aviation license deal(s) b) Hit its numbers on Aftermarket c) continue to grow auto revenues, and win those RFQ contracts. If it does that the buyers will surely come.
To be fair, I think auto contracts are being delayed by OEMs making up their minds. It's not SEE's fault.
Here's the link to the full article: https://unearthed.greenpeace.org/2023/04/18/serabi-gold-mining-brazil-amazon-disputed-land/
Btw, I love this on Serabi's website: "Serabi Gold is a pro-active environmental manager who consults with Government and the Community to ensure that it is a responsible corporate citizen and that the environment is protected for future generations."
I had no idea that Serabi Gold is doing this. How can anyone with a moral compass support this?
A UK company is mining gold in the Brazilian Amazon on disputed land
A British company is mining gold in the Amazon without the permission of the federal land agency, on disputed land, with licences contested by state agencies, and before a nearby Indigenous community has properly been consulted, an investigation by Unearthed and partners has found.
Serabi Gold, which is listed on London’s AIM and the Toronto stock exchanges, has been blasting open 4.5m wide tunnels at the Coringa (Joker) site in Pará state, and last year began trucking ore for processing at a second mine it owns 120 miles away.
“Everything [regarding this project] is wrong,” said Ana Carolina Alfinito, a legal consultant at Amazon Watch, a nonprofit organisation working to protect the rainforest and Indigenous people. Serabi told Unearthed it is “completely comfortable” with its legal position, complies with the Brazilian legal mining framework and has all the necessary permits for Coringa.
It's pretty clear they will need a fundraise by the end of the year. They didn't convince otherwise.
I've been told that FinnCap issued a note today but it's not on their website. Can anyone confirm, please? Thanks.
A new blog from Safestocks: https://www.safestocks.co.uk/2023/04/03/panmure-maintains-buy-rating-with-14-6p-target-price/. Is that Pat Nolan or Eli Wallach in the picture?
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Hopefully, Ives is telling his mates to get in too. Looking forward to news from Delta Airlines and Collins Aerospace. Until then, for those with spare cash, it's time to accumulate while SEE shares are on sale.
Does anyone fancy a bet as to which RNS comes next?
- Ives buys more
- Gen 3 Fleet
- Aviation license deal with Collins Aerospace
- Airline deal
- Auto deal
- Partnership announcement
Thanks Seeing2020.
I like a robust debate. For the record, I'm still hugely invested in SEE and am confident about the success of this company. PM is a safe pair of hands in my estimation. Long and strong.
I can't believe we're arguing whether a CEO should even buy stock on the open market. It's obvious they should as it generates positive PR and attracts the interest of PIs and IIs.
Re. LO's buy - they had to RNS it I, assume. However, given its small value, it's insignificant.
Escovido, he's got a right to express an opinion. Besides, buying on the open market as opposed to getting them 'free' does make a difference. That's the reason why they are noted by many investors as a very positive signal.
If a restaurant manager eats in during a shift who cares. If he buys his meals at the restaurant in his spare time that would be a great positive for prospective diners.
Nice post Checkbutyoudon,
Buffett is so shrewd. The investment thesis for SEE remains intact as the business goes from strength to strength. Yes, the share price is a frustration but it can't be long before investors cotton on to what a great business we're invested in.
Yes, Lewbo, Ives knows and is filling his boots. Hopefully, the US event will persuade a couple more US funds to do likewise.
Admittedly, the comms from SEE leave a lot to be desired. Sinking the share price when there is so much good news coming is almost genius. I mean, who'd have thought news would be expected during results week with a stonking US event today? What are they paying a PR company for if not basic expertise that they don't have in-house?
That gripe aside, (thank god their business isn't comms) a little more patience is required. Thanks to the Italian job video (not to mention lots of research) we know what's coming and only those in need of cash will be selling. Martin Ives was a definite positive for me in yesterday's video. He gave an assured performance and is another smart dude. PM has done a good job up to now and the surly (suntanned?) bugger will surely deliver that aviation deal...I can imagine Pat on the phone to Collins Aerospace as I type this...
I'm still holding, despite the wife's annoyance. Although, I've had to stiffen my upper lip. I suggest others do the same.