Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
ports – I certainly agree that we shouldn’t ignore the macro picture – especially with Ukraine entering a new, potentially much more dangerous, phase - but that applies to ALL shares at the moment. However, stock markets seem oblivious to the macroeconomic risks….but for how much longer?
tommo - the company appears to agree with you: in December, following the interminable share suspension, the Performance Share Plan was extended to “create additional time for the continued strong trading by the Group and its positive outlook to be recognised in a fair market price”. 40p by the end of 2023 is what is required to give employees maximum awards.
ports - you must have missed the exercise by Lloyd of his 26.5m share options on 10.1.23 when the SP was around 28p. He now owns 12.79%, worth around £23m. The question is: what, if anything, will he do next?
Just what we, and the market, have been waiting for! Will the SP now finally get back to pre-suspension levels - and more?
...is due at any moment.
As a potential c30% holder, and its only significant investment since flotation, one would expect this to include an update on Trak.
Fortunately for ML, the (partial) revival in Trak's SP has (coincidentally?) happened just in time to relieve it of the worst of its embarrassment!
"For me, the long awaited RNS is one with the title: Recommended Cash Offer"
LOL, I was thinking contract renewals. Even with those, and the restructuring, the SP should (barring further banana skins) finally fly this year. Just as well, because we could wait forever a bid, however compelling the logic.
The "market" seems to be anticipating the long-awaited RNS. Imagine the reaction if/when if does land - SP back to the low 20s probably. But this time, with any luck, it won't drop back down again, but move on up into the 30s.
With nationwide service businesses, you will tend to get more negative reviews on social media than positive ones. In Halfords' case, if it makes them pull their socks up, it'll be a good thing.
All I ever hear from friends, though, is how impressed they've been with Halfords. And last weekend, when I went to my local branch, customers (who generally don't check social media posts first) were queueing right to the back of the store.
Yes, same to you and the other "Trakies" - especially "Happy New Year" (thanks to Trak’s turnaround?).
But nothing much will happen to the SP till we get some news, notably confirmation (or otherwise!) of the outstanding contract renewals.
News of director purchases would also be helpful. If the 2023/24 transformation is nailed on, why wouldn’t they?
In the meantime, ML’s trading update in a month or so might be interesting - if/when commenting on M&A, in order not to lose credibility Raza will need to explain what on earth is going on with his only deal since flotation, and what he plans to do about it!
Like all PIs on this board, I'd rather go into the weekend on a high, but the SP has been moved today by just a handful of small trades by people who know no more than us, so I wouldn't attach too much significance to it.
Maybe Raza's not too troubled by the latest drop either - he's no stranger to extreme SP volatility accentuated by ultra-thin trading (just look at ML).
Though in a way it would be good if he were troubled by it, and came to the conclusion that being a more-or-less passive investor will just see his c£2.5m equity investment drain away... he's not a natural dealmaker by the look of it, and may just need this latest drop to galvanise him into action.
I know it's not saying much, but following the restructuring Trak is in the best position it's been in for years. So why the SP is almost at an all-time low is a mystery - not least to Raza, no doubt, who thought 17p was a bargain just three months ago.
So I can't see the SP staying there for long...
Even before the finals, SP should have been 350p - 400p if you compare it with BAE's over the last year.
9.30am - last year it was at a more sensible 11am - is not the most PI-friendly time to have a meeting in central London, even without transport strikes and bad weather. It's almost as if they want to minimise attendance...