The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I agree dvh. The short term debt issue here is undoubtedly very serious but, if AP can somehow navigate it whilst remaining a going concern (I suspect without the diamonds), then prospects are very positive and certainly more I think than current SP.
Thought as much so no worries Oofy. Seriously, I think we might find out which pencil they decide on shortly, which will I’m sure spike the SP. Then they can move on to thinking about an appropriate meeting room.
Put out a few mins ago for anyone interested
https://www.abingdonhealth.com/innovation-in-labels-driving-use-of-lateral-flow-technology/
Worth noting again, I think that Yates is presenting to an investor forum on 11/1, and so if he’s going to put something more comprehensive out in Jan then it would, I think, make sense for him to do it before then.
I’m not surprised by that Brighty given that revenue in the same period last year was just £1.1m. What I am pleased about though is the simple statement about “continued revenue growth” which indicates to me at least that we can expect annual revenue this year to be higher than last.
I’m also pleased Yates is looking to put out something more comprehensive in Jan - historically, he only moves so fast on things like this if he has something positive to say.
I accept there are likely to be a number of things to be done before any release can proceed. What I don’t get is is why AP can’t just tell us what they are. He’s said (I think) that’s he can’t talk about what’s going on because it’s politically sensitive, but what’s so sensitive about simply confirming the permits needed and how far along we are to getting them?
We have been made aware of delays on the debt extension and the diamonds. So to answer your question directly, nothing.
But being “made aware” of the delays is not the problem.
The delays are the problem, and the longer they continue the more worrisome things become.
Perhaps you could answer my question - are you happy for delays to just continue ad infinitum because we’ve been told about them?
Ah, so are you happy just to carry on waiting ad infinitum re the debt position, without concern, because we’ve been told discussions are taking place?
The whole point of discussions is to reach a solution. The longer they take, the more troublesome the solution is likely to be, at least in my view. That is why I say delay smells of problems. Agree with me or not, that’s up to you.
Just a little more here, but looks like Yates will be doing the presentation himself.
https://www.linkedin.com/posts/activity-7140692826136178688-uLpm?utm_source=share&utm_medium=member_desktop
Sadly, I think this must be our Andrew Hall. Thoughts with his family.
https://www.oxfordmail.co.uk/news/23971962.wallingford-asset-manager-found-dead-gunshot-wound/
Focussing on the copper is all well and good ASI, but it means nothing if we don't have the funds to get it out. Its only fair, therefore, that people focus on the diamonds because they seem to me to be, unless some kind of re-financing can be agreed, the only thing that will get us out of the serious financial mess we are in.
Last year Yates put out a brief statement on AGM day, which gave expected 31/12 cash position of £4.3m.
By 31/3 that had dropped to 3.7m, so £200k burn per month.
By 31 June it was £3.2m, so the burn had reduced to £166,667 p/m.
If he gives a similar statement on Friday (6 months after known cash position of £3.2m) then I’m hoping it will be north of £2.2m. That will show further improvement in the burn rate. The higher it is above £2.2m, the more he can say the company is moving towards cash positive position and the more indication we will have the costs are being controlled and business is doing well.
We may, of course, get no such statement at all!