Member Info for mattwales

because �12.5m wiped off EBIDTA means no profit for the second half, no profit for the second half = no dividend �5.3m according to them is for that accounting error so what's happened to the other �7.2m since the last update end of Jan? The risk which was low before today has just increased massively here and there is every chance of a rights issue if margins get cut further. To be honest i;m surprised its not 70-80% down.

yeah but reading between the lines everything was fine just 6 weeks ago at the interim results, trading was overall up and expectations for the year what the BOD expected. In just 6 weeks they've deleted approx. �12.5m from EBIDTA which along with a massive increase of �53m in net debt since the year end results last year doesn't add up if everything is fine with the business.

yeah but 20% of yearly EBIDTA is around �12.5m all lost in the second half of this year. If they dont recover that going forward this is rights issue material all the way.

I'm doubtful of a bounce up first thing in the morning, most PIs wont have seen the late RNS. Risk has increased here dramatically net debt up 55% in a year to �150m u've got to hope they don't breach any banking covenants but that dividend will be cut or gone.

could be in freefall first thing

i think further to fall but IMHO

completely wipes out any profit and could wipe out the dividend and increase the debt levels

cant figure out what is going on here without mentioning the delayed drilling results we have heard sweet FA on the acid leach work for 4 months since the last dreadful RNS on that work. I'm half hoping it's a ploy to get Captor to buy the whole company given they have $50m+ cash and a further $30m+ to come in with warrant exercises.

cant see a takeover they have also allowed a �366m pension deficit, so overall debt is approx. �3.1bn. Profits will be increasingly needed to reduce that pension deficit with additional �8m a year next year rising to �13m i believe from 2019. With �45m extra needed for capex next year I believe their profitability will be well reduced in 2018. Any further struggles and those banking covenants could well be breached. The risk to throw money into this is far too high until you see the company embark on a debt reduction plan and that will entail destruction of the dividend entirely and very possible a rights issue.

i'm not sure its being ineffectual.....there are too many new entrants and existing advertising companies switching into location based advertising/data. Then you have the big companies wading in and offering it free to businesses, albeit it in the USA only for now: https://lovelymobile.news/placed-now-offers-open-source-mobile-location-data-for-businesses/

this is gonna hover around the placing price until the 3 billion shares have been churned out.

if they tripled turnover they'd only be losing a million a year. success will only come from cutting cost imo

They hype that costs are cut 50% but they'd have lost that with DPD going off their books so realistically they haven't cut costs at all. By now ud be thinking what other commentators suggest that they'd be going through every expense thinking how can we minimise costs to the bone. If you're failing to monetise your product u cut costs its simple management. Losing �200k a month but I'm sure they'll get a placing off May/June time at 0.01 or so riding it out for another 6 months until Peel Hunt get tired of the charade.

i agree swanley they'd need $10m or so to develop the gold area they have in full and i think they'd have struggled for the money based on the last results. I'm very surprised though there is a lack of geological data in the form of a presentation of that last gold drill as it would help the market assess what it has. i hope for long suffering shareholders here they strike big on the Cobalt

I'm surprised with us low on the floor and with Captor having a huge cash pile why they haven't come in for an offer here in all honesty.

lets hope they delay the results another few weeks for the share price to catch up with how much this has fallen.

cant even buy stock its all going to negotiated orders

Madini if u didnt know by now are on the board, they arrange placing shares to themselves, they drilled the asset on the gold, they got profits from land which If they were confident there were commercial quantities of Cobalt Madini et all wouldn't have sold to it AGM because they have their own drilling team/geologists. All IMHO but i think its being shafted by Madini mark 2 but its ok i'm sure they can roll out another asset to play with at a later date.

even if they miraculously doubled turnover this year they'd still be losing �1.5m a year, they still need to cut costs drastically from here as pretty much every contributor in the past has suggested. They dont need to generate any PI interest for a placing, they only have once in the past with the placing/open offer. You have MMs knowing they need a placing and they will take the share price down before the placing hits anyway just like they have done in the past.

where was the last newsflow on the gold, nothing not even a presentation of the evaluation by the madini geologists hired. Then magically as if nothing happened they buy a cobalt company for a nice fee from none other than iain macpherson (madini). Only ones making any cash are madini who are probably drilling the asset.