Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I wish I was James Simmons with his holding!
Only circa 8m shares here 😎😎😎
More technical strength commentary:
- "RSI 1st time over 50 on weekly since March '23"
- "Price 1st time above 30wma since March '23"
- "March '23 downtrend broken"
https://x.com/mbdaytrading/status/1754850064084718054?s=52
Looking strong again - expect this starts to run back to 7p+.
Cheap - while fundamentals and technicals looking ace.
Great volume again yesterday.
Spanish and Italy updates expected soon 🔜 on permits, whilst both already producing cash.
DEBT FREE / NO WARRANTS 👍👍🌱
https://twitter.com/TKIA_1/status/1754600570566951381
As technical folk point out - still above 8, 21 and 50 ma, so bullish technically right now.
Worth remembering in just 2 more months PXEN will have between £3m to £3.5m cash (expect upper end) in the bank 🏦
39% per TR1 / Board share register officially accounted for - reckon closer to 50% based on wider knowledge of holders.
At some stage stock will dry up and this goes.
Strong production going forwards = SP re-rate
or
Low Mcap = Buyout target.
Either works, but the sizzle is coming back....
The beauty is PXEN own 2 onshore assets in low costs regions (Italy and Spain) with infrastructure and plan build out and paid for, local connections to grids (1 of only 4 in Spain available) and with large organic growth potential.
Both assets now producing - and that production revenue can be used to further developing assets without need to dilute shareholders and raise more funds.
Additionally, Selva we have already been granted permission for entire field, but operator just needs individual well permits approved - which seems highly likely considering overall concession award.
Each well will be self-funded - plan to drill next 2 wells off same pad - and these will add multiples to current revenue in relatively short timeframe.
Spain - expect news soon, I cannot see the status quo to continue, and a solution to unblocking the green permit path will be found.
Considering mcap - these are very exciting times, and a bonafide investment with little downside but large upside.
Debt free / Warrant free / Cash producing / Additional permit approvals in short-term.
As expected - Q4 production up from Q3 with 641k to PXEN bank account, but rate intentionally kept just under 10mln scms so 10% tax avoided. Very sensible.
Now production has been increased - no debt, cash in the bank, cash cow, permits pending across both assets.
Tide is turning - under 7p is still cheap.
https://wcsecure.weblink.com.au/clients/povalleyenergy/headline.aspx?headlineid=61192128
Hot on heels of winning of 1st US state contract 📑 last week…
Another good summary in #ACRM TG:
“Some interesting snippets I picked out from Angus:
➡️ 6 sales person employed at the moment. Each would be expected to achieve around £750k in new business a year.
➡️ Haven’t even scratched the surface of potential British Government business. Massive opportunity.
➡️ About a dozen customers in the states, hope to grow that by >50% in 2024
➡️ 3 or 4 big opportunities on the go at the moment. Currently pitching to a Fortune 500 company in the US.
➡️ About 10 customers in Germany, potential to expand with new partner.”
#ACRM - excellent post in a TG group 👍
“good podcast and some interesting points made by the Chairman, Angus Forrest. 👆
He’s no ‘spring chicken’ but he definitely knows how to grow & sell businesses!
I didn’t realise ACRM had grown the British Gov contract by 10x and he also anticipates similar growth with other new customer companies.
Ref British Gov contract AF stated:
‘Absolutely massive opportunity, with our number one department (MOD) we could easily do £1 million a year (we’re only doing £500,000 at present) but that would only be scraping the surface. Probably there’s £5 million a year in that one customer’.
If they achieve the £5 million a year figure - that would be 100x from the original contract and on top of that repeat revenue streams in the future, with even further potential gov department contracts coming online through the pipeline (also up by 165% to £7.9 million)!
In addition, AF also states they are aiming for a further 50% increase in contracts from the US (in the next 12 months), which is the biggest GRC market globally.
To top it all off, he’s also planning his exit strategy once the business has grown significantly:
Circa 23mins 20 secs
‘One of the reasons to come on the market is to exploit the business, grow it and … [sell it]’
(Stating that the business model allows rapid business growth – which is attractive to an acquirer).
Very clear strategy moving forward and lots too look forward to in the short term:
AF stated:
‘2023 was a year where we put in place the steps for transformation & growth…2024 is when we demonstrate we are growing really strongly.’
I do like the way this company is way under the radar at present. GRC is not an industry which includes the excitement (volatility) of the mining sector but it is steadily winning contracts, generating cash and moving into a huge market opportunity (due to legislation, global cyber threats, reputational risk etc).
I don’t think ACRM will multi bag ‘overnight’ but I do think it will multi bag over the short to medium term– just with a lot less ‘noise and fanfare’. 😉
IMHO”
Talking about leadership. Nice interview from Angus released:
https://x.com/marketmusing/status/1750941674027524214?s=52
Agreed.
The strategy is clear and being executed on perfectly to date.
‘24 will be interesting for sure 👌
Agreed - such great positive signs, and a real growth story here with strong returns to be made from those investing early.
1st US state contracts a clear indicator of progress being made, and the initial contract being the thin end of the wedge, as we have seen in the UK contracts build-up.
Not many AIM companies crack the US.....
Strong buy for me.
Worth remembering from Selva alone:
- @80k scm + €30 TTF's = £3.2m p.a.
- @100k scm + €30 TTF's = £4m p.a.
- @80k scm + €50 TTF's = £5.3m p.a.
- @100k scm + €50 TTF's = £6.6m p.a.
*excluding £700k p.a. Romeral
**circa £1.9m in bank y/e ‘23
- ➡️Increased SCM
- ➡️New Permits Selva
- ➡️New Permits El Romeral
- ➡️Continued higher TTF's
Lots to look forward to.
Tasty.
Nice to see upto 80k again + additional permits at advanced stage 👍
This is what you want from stable production - no surprises.
Selva is a repeatable low cost gas play which is self funded. No debt.
Should bolster confidence.
Run to 7p 1st pls.
Cheap.
Break 7p and off we go to 9/10p quickly.
Taken a while to clean-up the share register, but fundamentally strong and technically could be ready to really go again
#PXEN proving it moves quick - back-up 10%+ to 5.25.
Backdrop of TTF's increasing nicely again today with cold snap incoming across Europe.
https://twitter.com/TKIA_1/status/1743281564484591782
New buyers accumulating - not surprising with CLN Dec conversion highlighting anything under 6p is good value.
Mark states very clearly in the interview and recent RNS; cash in bank and monthly revenue from 2 assets - Spain and Italy - will fund further organic development of these assets. Let's stick to the facts.
On separate note - Not sure people have grasped that £340k PXEN shares have been converted at circa 6.35p and the SP is 5p at over 25% discount.
https://twitter.com/TKIA_1/status/1741427710847602947