The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Not sure why my last comment appears to have been removed...
All I said was, it's difficult to get money in the bank when you have completed 0 projects in your 17 year existence.
Down to Naheed to get lenders on board. Interest rates coming down surely would help this (assuming they come down)
Sorry JSTAR, I think by profitable, I really just meant how do we:
a) not go bankrupt in the next year
b) make visible progress toward completion of projects which can be shared with shareholders and is attractive to lenders/investors
The presentation says we should expect a negotiation with lenders/investors next year, but I don't know really understand what there could be to negotiate at this time, perhaps another dilution...
Answered my own question about assets, we don't have any tangible assets (I'm not going to include the company car, etc, they can round down to 0) so there is definitely a concern about having anything to fall back on if we can't get funding.
The accounts at the end of the year will be interesting, as they usually include risk/reward statements and outlooks etc
Ok, so I'm done with speculation.
Here's what I'd like to see:
1. Presentation with dates of when investors can expect projects progressed through to profitability (conservative estimate will work) and Oracle to be held accountable
2. A discussion with shareholders, and a plan, about how the company becomes profitable, both over the short term (3 months to 1 year) and long term (5+ years) - do we need to cut or sell projects to make an impact
3. A breakdown of the companies assets (again, so investors have a clearer picture, and can determine whether we can actually sell anything)
3. Investment, investment, investment - Naheed reassured us she is working on this, but we really need some from third parties to get the pebble rolling, if the shares are cheap, why doesn't the Sheik put in an offer for the company?
This is the news I've been waiting for (confirmation on Riversgold investor centre, but not Oracle's 🤦♀️)
That's a might good amount of golf, credit to Ed Meade
If Oracle took 1% of the current value of the gold, it would make the shares worth around 0.8p according to my calculations, so there is room for some upside.
I guess the question is, how much do we really make, and more importantly, when.
If I were Oracle I'd be screaming from the rooftops to get some publicity, and increase shareholder confidence.
What is in the Canary is largely out of the Oracle's control, if you are concerned, write to the Canary, and Oracle, and make them aware of this article.
The thing that is within Oracle's control is to provide regular, meaningful, and ideally positive updates to shareholders.
If the updates aren't happening often enough, we need to come together and use our combined power as shareholders to kick management into doing something.
Is it insane?
A company spends a decade not delivering, and plans to continue NOT making significant revenue for two years, without even having a plan to fund the next two years.
I really hope they pull it out the bag, but the share price is a reflection on their historical return to shareholders.
P.s - Feel free to buy more shares and become the majority shareholder, that's definitely a valid option at this point