Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Any reason why the shares opened at 0.78p?
It's a bit stupid because as soon as it opens that high, big sell orders are immediately placed and it brings it crashing down, where as if you had a small consolidated rise, you can get more support from buyers as the day goes along.
Seems like large sells that are constantly being set at the start of each day, the whole day it's been NT to sell, cannot get a single quote to sell, but it's easy to buy.
Are these the placees? Why are they selling at a loss?
https://twitter.com/Empiremetalsltd/status/1523995034416259074
Some big buys have come through today, a few 300ks and a 500k.
Lack of volume is a bit of an issue.
It causes the spread to be so high, all it takes is a few trades to bring the price down but similarly it'll only take a few to bring it back up.
The director buys are quite encouraging, I would say with the launch of EpiSwitch CiRT and the directors loading up at this level, shouldn't be too long before some market sentiment picks up, it just really needs a bit of trading volume.
Feel like it's a little early for an exit, just based on trading and the rule of averages, it was in the 0.70s with its lows, at it's 12 month highs it was 2p+.
For a trade I'd be looking to exit around 1.70p-1.80p, anything further depends on news.
The other issue is this share is still pretty much unknown to the usual 'AIM' stampede, whilst they are busy buying 88e or ADV, BLOE averages about what, 30 trades a day, on a good day, 60? On an RNS day, 100? Meanwhile the other AIM shares average out between 300-1000.
When an RNS is released, it's usually hidden on page 2 and 3 of the most read RNSs on the London Stock Exchange RNS page.
The lack of confidence in PH also doesn't help, he's pretty much been disastrous, hopefully this will be the opportunity to turn it around and re-gain some confidence.
Happy with those results, I bought in at 3p and was defending PH at the time, which obviously turned out to be a mistake at the time but hopefully this means we can turn the corner and I can get some money back.
Will take a lot of patience, I've seen it many times before with AIM shares, especially with the low volume, but when it explodes it explodes hard, recent examples would be KOD, PREM, EUA, GGP, all went from sub 0.30p
Chances are concert party are playing some games here plus a few PIs panicking or trading elsewhere.
If bad news had leaked, our volume would have increased ten fold all of a sudden and the share would have dropped to 1.0-1.5p within a day or two, there is no price action here that tells me that news has leaked, not with this volume and number of trades.
I've seen it all before with other AIM shares where a placing has been leaked or bad news has leaked, it's way different to this price action, nothing here strikes me of a leak of bad news.
Just my opinion however based on my own experience.
This is probably why PH is taking his time this time around, the only way to improve is to learn from your mistakes.
My guess is the initial flow rates have turned out pretty decent but he doesn't want a repeat of last time, so it just needs a bit of patience, but patience doesn't exist for the majority of AIM traders.
@Patrickpillai
Are you new to the stock market?
You do know shares sit at lows for months, years on end until the news actually comes?
You do know that shares only tend to move out of a range when the news verifies an uplift from the current MCAP.
He may be, he may not be, reality is that the market will eventually settle on results and not any past failures by PH.
Like I've said many times, shares and BODs can be terrible for years and then they may just get lucky and the pieces come together and suddenly they are seen as the best thing since sliced bread, why? Because ultimately they delivered the results the market wanted, despite past failures.
PREM for example has had the reputation of a director cash cow for years and it sat under 0.10p for god knows how long, suddenly this year their project is off the ground and they are 300% up YTD.
Schaffalitky at EUA had a bit of a poor reputation prior to EUA's rise in 2019, suddenly any share is now involved with, everyone suddenly feels confident because of what he has pulled off at EUA.
PH may have been dreadful so far, but if you vote for the concert party you might aswell just write off your investment, to ?even think about letting that lot in is like setting light to your own cash.
Let the flow results come in and then maybe re-assess your position regarding PH, the price action seems a bit strange today and seems to be fitting well with PH bashing/spread of fear despite not even having the flow results yet.
Give the guy a chance to see if he's at least turned it around, if not, then review your opinion.
They are not huge sells in the grand scheme of things, I've seen a few pops at £10k over the last 2 weeks and some buys at £10-15k as well, but the majority of the selling just looks like PI bordedom, derisking or shifting elsewhere.
You have to remember that 100k sells at this price are only £2500, the real issue here is the volume, it doesn't help when you only get 5-10 trades a day, it just drags the bid down until you get an influx of buying interest, that will come after the flow results.
The strategy has been pretty clear in the recent RNSs as masqood as said, so I'd sit tight and wait for the flow results.
Probably between a rock and a hard place in how to approach communications going forward, it's clear that Paul Haywood has let people down in recent times, so it's a catch 22, if he talks too much smack it will just sound like the same old smack, if he doesn't talk enough, it will sound negative.
Better to let the results do the talking and WR-B1a result will be key, the next few months will be a clear indication if the company can move forward under Haywood, if he's managed to get himself sorted, there's a hella lot of money to be made for all of us.