Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
We’ve seen it a million times. Massive uplift based on absolutely nothing then days and weeks going lower than it started. On the uplift days, get a few posts saying ‘ooh is it news? Is it the dispute?’ When in fact it’s absolutely nothing of the sort.
We’ve not had an rns of substance for months and the dispute is 2 months away so unlikely it’s anything exciting at sll
Maybe the vast majority selling aren’t mugs like us who have multi pound averages. Could have been taking a punt over the last year and have just become bored with it and taking a small loss.
I imagine the amount of mugs with big averages is quite low. We only have ourselves to blame, greed took over.
What's the TLDR here?
Davand - how could it be worse than the last 2-3 years? 1 year wasted with DA and since then drifting lower and lower under the silent one. At least if it's boom or bust we could get some sort of direction sooner rather than later.
1. no chance. why would he return to a sinking ship after taking it for millions and millions? he isn’t silly enough to know he got very very lucky and was in thr right place at the right time. if covid didn’t happen we’d likely be doing the same numbers and business as pre covid. company was going nowhere before the lotto win.
only a fool would return in such circumstances.
2. only option really. knows yg, seems more dynamic and younger so likely hungry.
3. not even an option. why would someone from a blue chip come to a dying aim company? it would make absolutely no sense.
4. no thanks. this is the man who said we could get to to £100m organic revenue per annum in 5 years and then when questioned on it 18 months later basically laughed in shareholders’ face and said how ludicrous it is. you said it, you ****.
we did underestimate it but the company did not help by devising that utterly ridiculous ltip and jm’s infamous £100m organic revenue comment. that alone for me meant he lost all credibility to be even an interim ceo, and also made me question his abilities as a cfo. he’s had a long career, why would he have the drive to push this towards mid cap? and that’s not a dig, if i was him i’d be thinking about my safe 6 figure salary and pension contributions to get out of the rat race asap.
if nothing else, the positive out of this saga for most of us who have lost a lot of money is not to think that a flash in the pan can become a long term winner. it was a lotto win, no more. i bet nothing has changed behind the scenes than before covid, other than there’s more cash to absorb the losses for then next few years.
it’s a learning curve to just avoid aim and ****ty little lifestyle companies.
HC - in theory yes but do you see that happening with the current management? Given how bored and lacking in enthusiasm they are in every video conference they put out, do you think they have the energy or desire to do this?
Very few individual shares - this experience completely finished me with regard to buying individual shares. So small amounts in a couple of airlines, consumer goods and this absolute dog. Other than that, just multi asset funds. The latter is all that interests me from a future investment perspective after my experience here.
Yes but we still have the utter incompetents of NCYT running the show, I imagine that will put them off. It feels like the company is now just a bigger YG so maybe in time they'll all be paid to go away.
Not having:
- court case which could bankrupt the company
- an interim CEO
- disastrous operational performance
- lack of future guidance and strategy
In short, II’s likely see this as the total dead duck it is turning out to be