Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Typical reaction by this typical rainbow chasing mindset.
The results are pretty much as expected and fall in line with everything that we've seen over the last year. The real figures for WK to watch out for is next year, they were always going to be like this for 2020, a dog could tell you that.
The only thing that has happened is the impatient people who can't sit in a share for more than 5 mins are crying because there is no asset sale vote on the AGM.
What is wrong with you people?
What kind of casino mentality are you bringing to investing?
No wonder the market is so b0ll0cks nowadays, forget the corrupt MMs and the institutions, half of the drama is because PIs keep treating it like a casino and wet the bed the minute they don't make quick money.
Once again you pick and choose how and what you want to reply to by stating one sentence about the 4x the current share price that you've mentioned out of 90% of negative posts and using that as the line to run with to defend yourself.
I have no need to filter you HappyScot, like you said you have an opinion and a right to express it.
I'd rather address your opinion and as is my own right, dispute it, but I don't waffle by way out of a conversation, I address the points I have made directly.
HappyScot,
This is the great thing about posting history and is the whole reason why the derampers have no credibility.
There is the clear difference between someone like me and you.
I have called out ramping and rampers several times, it's all in my posting history.
Your posting history speaks for itself and you have a notorious reputation for being a 'holder' who does nothing but talk down a share he supposedly owns.
And instead of answering the question, you automatically come across defensive, how about you bring a more constructive conversation to the table and speak as to why and what people are ramping, rather than just classfying everything as a group ramp.
'There’s certainly been an explosion of positive posters an general rampiness since this morning. Let’s see if we do get an AGM notice which provides us with anymore information or facts & figures to mull over.
I see someone claimed on Telegram they could sell 20m shares in one hit at a premium earlier. I personally doubt that to be true but I guess those Telegram boys do love a good ramp'
If this morning is what you classify a ramp, I'd love to see how deep of a criteria you have for negative posts and deramping.
I would also love to see you display the same energy and callout individuals against the deramping posts.
Harris,
‘but realistically I believe it'll be in the region of 70p-£1.’
Maybe one day you’ll finally be able to read and interpret the full context of a sentence.
We pray, we hope one day you will be able to, although I don’t think any of us hold out much hope for you, maybe it’ll be before any asset sale eh?
Thinking about it further, the urgent EGM now makes sense.
If a dividend is paid, of say 70p, once this dividend is paid, the share price is expected to possibly drop pretty low, to say around 5-10p, EUA's assets and cashflow will be virtually non-existant at that point if we assume WK and MT are both sold.
To raise funds in a similar region of £14m and further raises to fund the Rosgeo JV, it would need some intensive dilution to even raise enough money.
By raising the money before a dividend is announced, you get a bucket load of cash to develop the Rosgeo JV, whilst not overly diluting the shareholders in the event of a dividend.
Once again, this may just be a tactical masterclass.
The ACF report was a nod in the right direction IMO.
I expect a dividend of at least 50p, but realistically I believe it'll be in the region of 70p-£1.
I think the idea is to milk the sale as much as possible to pay the best possible dividend, CS and DS will then take a massive step back and JN will be the ringleader going forward (as you would being the CEO), using the placing funds and future equity raises to develop and put EPC contracts in place for the Rosgeo JV assets, then eventually those will be sold off too, further dividends for anyone who holds.
Tactically this has been played incredibly well and makes much more sense than a full company sale.
'You guys are obviously know as much about the legal system as you do about investing.'
Suppose it takes one to know one Calamari eh? 5500+ posts and it still seems your audience are still disenchanted.
Maybe another 5000 posts and we will finally get somewhere.
If you've followed the Eurasia story over the last few years, you can put a reference to the line CS mentioned in the Interim Report last year:
'This strategic decision was the culmination of many years of hard work by our team in realising the value in our projects. With the final approval of the Flanks license surrounding Monchetundra, the Company has been successful in establishing a dominant position and a first mover advantage in Kola PGM, which, coincident with developments in the PGM market, has spurred interest in the Company.'
This wasn't an overnight project, remember DS has been invested since 2008 at 5p.
It took years to get to the point that the company started to receive interest in regards to MT, applications, approvals, mining licences, resource approvals, drilling at MT, but most importantly the Flanks, the major play here was the Flanks licence, if you look back at the RNSs, the interest in the company was after the Flanks licence was submited in Sep-19.
The bank engagement was a month later, we only finally got the Flanks final approval in August 2020.
In the updates, they keep refer to:
'The Company has more recently focused its attention, including providing due diligence access, on a limited number of potential bidders who had shown consistent interest in Eurasia and its high-quality asset base.'
Monchetundra is a world class asset, but this was never going to be a simple process of look, we have 40m Oz, pay this and you can have it, because it doesn't work like that.
In theory, MadStork and PAAT over on ADVFN is correct about the resources beyond the 1.9m Oz being speculative.
But in the real world, Monchetundra is a gem and that 1.9m figure is just a safety net, if someone wants it and the historical data and site access provided by Eurasia satisfies the buying party, it's up to them to value MT, not for some self-proclaimed mining experts.
An asset, a car, a company, a piece of cloth, a trainer, is only worth what someone is willing to pay for it, no matter what it's value was yesterday, so if someone wants to pay $2 billion for MT, they will pay it.
If they don't, they won't, the real question is do you trust the intentions of the BOD?
Not sure what's so confusing.
The BOD have made it obvious, they don't want to mine Monchetundra, they want to sell it.
They've made several references to not wanting to activate the SS deal because whoever buys it would want their own people in.
They clearly stated at the start of the FSP, all NDA's already signed with parties regarding Monchetundra are still in place, and I presume may still be in place because they were signed outside of the FSP.
They've got ACF reports produced which highlight the possible valuation of Monechetundra.
Since last July, they have barely referenced the intention to mine MT and only briefly mentioned it a few times in regards to putting a EPC in place for the Rosgeo JV.
They have shown a clear intention to move forward with the Rosgeo JV, whilst stating they are working on a deal to for
'potential acquisition of substantially all of Company's assets'.
So, what do you think they are selling?
DC, that's just investing.
This is the biggest problem with people and their money, they can't understand that every investment carrys risk and you will sometimes be in the red, you can't be perfect all the time.
It's a judgement calls and risk management, what do you believe to be the smallest risk at that moment in time, for me, if anything, after the Rosgeo JV and the $20m placing, Eurasia's risk has decreased significantly.
But PI's are the most fickle sometimes, they see a bit of red and they start running for the doors, look at the individuals who ran at the drop from 4p to 2p, wonder how they felt when it shot up to 20p?
DC, the reason we are down here in the first place and not in the 30s-40s as we should be is because the market has never believed in the first place so it's not a new thing.
It's got to that critical stage for people in which they decide to stay firm in their convinction that their investment was the right choice, or they sell to protect their money.
I won't be selling, I've seen nothing change apart from PI sentiment, I only sell if I see a reason to from an RNS or the BOD, not because people can't face watching their money go down.
TBTT, they short sold 50 million shares in the high 20s before the resolution to even conduct a placing was approved?
Added to the fact that the share price hasn’t sat in the high 20s for longer then 1 or 2 hours in the last few months.
But you think 50 million shares were short sold into the market...
You must think everyone is as stupid as you.
'The FSP went on for 9 months before the Rosgeo JV. But there was still no sale.'
Did you bother to read the RNS to find out why it took so long?
COVID-19 delays? Due dilligence? Site access? Negotiations? Complex Transactional Structures?
At this point you're just pulling my leg and it's working.
'The FSP ended with no sale. So whatever bidders may have offered, they weren't willing to pay the board's asking price.'
Once again, you are making an statement without considering both sides of the argument.
The FSP ended with no sale, yes, is there a possibility that they weren't willing to pay the BOD's asking price? Yes
But there is also a possibility that asset sales and the development of the Rosgeo JV may have been a more lucrative option going forward, something that your statement fails to acknowledge.
'It doesn't matter if JN jumped ship, he probably got paid loads to salvage the failed situation. Lesego did not table any bid when the sp was a fraction of current level. The BoD have a habit of papering of cracks with misinformation and promise of more jam tomorrow.'
How do you know Lesego didn't get priced out of behind the scenes negotiations and due dillgence?
If we just assume that the minimum the BOD would accept is 70p, Lesego wouldn't be able to afford that.
Can't have it both ways Billions, you'll gladly mention that they are non-binding bids and these bids may not have been credible or required further negotiating, but what about mentioning the possibility that the failure of Lesego to deliver a bid ties with a possibility that they couldn't afford it and other bidders were on the table which eventually lead to an FSP?
You say the BOD have a habit of papering cracks, what cracks? If by papering cracks, you mean the Rosgeo JV, then other big organisations like Polymetal must also be using their Rosgeo JVs to paper cracks.
Think it’s quite clear that a big PI is selling some shares, they either may have just lost patience and decided to cash out or now that the FSP is over they probably thought they could clear some cash without having to constantly notify the market and harm the share price but the constant dumping is having that effect regardless.