Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Also a lot of seriously sad individuals who spend an alarming amount of their time desperately trying to rubbish this share day in day out. Some less obvious doing similar in more subtle ways too. The LSE board isn't that influencial to any business. All a pretty pointless game imo
Unfortunately, this particular board has been ravaged for so long by trolls that this is where we are. Known trolls being removed, and rightly so imo as they have made their beds. But also hyper sensitivity to anything potentially troll like or anything remotely sympathetic to trolls detraction tactics.
Posts are removed if the majority dislike the post. Reported posts can be removed by admin if they are in agreement with those that have reported it. It isn't possible to have a poat automatically removed. Admin still have to make a decision.
Posted on LinkedIn today by Vechain
ICYMI: We recently minted an #NFT worth €1.5million, representing actual inventory of an Italian automobile company.
#VeChain & @SupplyMECapital are building new capital-raising models without debt & unleashing the power of NFT tech.
$VET = Revolution.
Cont...
please note: a. The substance test guidelines suggest to check also the cash flow impact: the IM changes materially the cash position of the client (also increasing the equity and not the debt) b. The substance test guidelines suggest also to check if the monetiser has the capacity to resell the goods to third party and has a business plan focussed to the inventory trading (and inventory analytics capacity): it’s SYME business model…(not of banks which can't evaluate the goods underlying, it's basically not their job) Additionally it’s not a REPO (both in the form and in the substance). Product financing arrangements are REPO (since they asked, at the end of the day, to the client to repurchase the goods)
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4. "New Asset Class": It's not a new asset class, Alessandro is talking bull**** and lying to you. There are plenty of inventory backed bonds out there. The problem is that for generic inventory (ie non-commodity) the standard LTV is 50%, ie the maximum that a bank will lend against £100 worth of generic inventory is £50. Hence the deal that SYME proposes simply won't work. That's why no bank has agreed to put money into SYME's structure and why the securitisation never happened. I've pointed out these facts numerous times already.
But there's always some two-bit computer repair boy, a supermarket manager, a gym bunny or someone that works in finance for an insurance company that thinks that they know better. Such people will only ever realise the truth *AFTER* it's happened to them, even though the key to being a good investor is to forecast the future.
4. You are right: bond/ financing have a loan to value since Banks have a regulatory capital to manage (also limits) and financing (and not monetisation…) BUT it’s a true asset class because it’s actually a real asset investment (non-recourse). All the other structures in the market are basically recourse-transactions. The fact that a bank can fund only % is fine work since a Bank/ Debt or Credit Fund could take the senior or super senior risk tranche of each IM and the rest can be subscribed by other investors with other risk appetite (mezzanine or junior) Hope it's helpful to understand better SYME business model.
Some may find this interesting. Good to return to previously shared information. Here we have questions asked by one of our resident detractors despatched beautifully by none other than our very own CEO. Enjoy!
I'm not a "troll", I'm a former investment banker that specifically worked in a team that did "inventory monetisation" transactions - we called it "structured trade finance". Four quick facts: 1. Alessandro Zamboni is lying to you: numerous banks already do the deals that he says SYME will be the first to ever do. I worked in one such team, all the large investment banks have such a team. BNP probably have the largest.
Dear members, this an exceptional reply since the message spotted some points that, after the first IM finally published, definitely need a direct reply by SYME (to be clear, compliant with FCA regulation):
1. May I ask to list the names? Additionally: a. If you think it’s a common product, you should know that Banks, under transparency regulation, have to post in their website the product (in Italy also with the product schedule and costs) b. If you think it’s a bespoke transaction that only investment banks/ structured financing banks can made, this is exactly what the auditor don’t’ want to see. The bank is not an inventory trading company and if a bank created a “vehicle” (not a trading company with a business plan like Global Inventory Fund' stock companies shown in the SYME' AR) for a single name transaction, this is a so named "product financing arrangement" (and not Inventory Monetisation) c. BNP had a business in Ireland that it’s now closed because of several points. I personally know a lot of guys involved in it.
2. True sale: The accounting rule requires that "substantially all" of the good(s) is sold to achieve a true sale, this is interpreted as a minimum of 90% by accountants. SYME are only advancing 85% up front, it therefore follows that their deal will *NOT* achieve a true a sale and won't achieve off-balance sheet treatment.
2. Totally wrong. Stock Company purchases 100% of the goods and not only 90% or 85%. Additionally, 15% of deferred price is not fixed but variable, depending on the market conditions (since it's a realy true-buy...). This point was never an issue with ALL the big fours and local advisers
3. It's a repo: The way that SYME claim that they're going to implement their deal means that it's a sale (by the client) and then a repurchase. That's a repo and fails a basic accounting "substance" test - the substance of the deal is that it's a financing and hence it will be accounted for as an on-balance sheet financing rather than off-balance sheet.
3. This is the problem of the product financing structure of the Banks (point #1). If you understood the business model section of the last AR 2021, SYME launched a Fund with REAL stock companies with a business plan focussed on implementing inventory trading strategies. In regard of the “substance test”, please note: a. The subs
As a genuine long term (long suffering) holder of SYME I have avoided these boards for a long, long time due to the constant swathes of calculated and organised attacks by the univested paid detractors. These individuals are well know to all of us.
It is so refreshing to see these individuals finally takento hand and to see that this BB can infact be used for actual genuine SYME based information, discussion (between genuine folk) and yes, positivity. It is not a crime to be positive about and investment.
MARY Auerlien (twitter handle @MARYau_MCU_PH)
Tweeted on the 30th of September "Wow. I have just learned that SNG001 is now available in registered ATU in France" and later replied "exactly available for October 15th".
It seemed to be circulating yesterday. Could this have been responsible for the rise in share price yesterday?
Do we know if SNG001 is in fact available on sale in France under their ATU as of this Thursday?