Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
DP, starting to think that maybe the refinery didn't pay for the equipment as it was commissioned by Quadrise. Normally it would be commissioned by the client. In this case the RNS should say that the refinery has paid for the equipment. I am concerned that MK is linking Cespa as part of the SA group, they paid and maybe paid for shipping only from Cespa, (so not a big deal) and not such a big commitment. That would put an entirely different prospective on the levels of engagement. I am surprised that the Electricity company does not want to go ahead and equally surprised that the National oil company cannot tie off any other deals. That would suggest that maybe the product hasn't got that wow factor. I always felt that MK was providing breadcrumbs, even at the AGM when I repeatedly quizzed him. The previous AGM, I asked why all the eggs are in one basic. In my opinion he was not up to the job of an oil executive. Even in this RNS, it it ambiguously written. The bottom line - 9 months left. Going to forums does not cut it for me. I think they will fundraise in 3-4 months time with a little spike. Such a great product that no one wants??? Maybe it isn't so great after all and others are coming on to the market to cater for the future. JGC - in the report is termed MOU and not previous MOA. Tried to bail out this morning but could. Interesting to see large sells yesterday, an hour before the bombshell announcement.
Exactly how I read it, when he first announced it. Extend DD, allows for cashflow to pay for the first tranche. For the first time in 5 years I actually think RRR could have a good year moving forward. I think the Bear market spooked AB, he has had to do everything he could to keep RRR alive, but I also think that experience will make his decisions become more robust and sensible. He has been duped a couple of times or so, Elephant and Shoats both disasters (although somehow Elephant seems to be coming back from the Dead, although in my humble opinion is still in the coffin). Candy sweets, a waste of time too, (out of the remit of a resource company) but I like that fact that AB chases investments. You know if you put �1m in 10 projects you hope one will make �100m, a couple will return twice as much and the rest you can live with as failures and learning experiences - it is how tech investments have been operating for the last 10 years. I don't think Shoats will get much attention (based on a lousy management team in my opinion followed by bad luck - weather) and was more of an opportunity to leverage a fundraise on Mayans perspective, but Steelmin I think will be the beginning of a game changer for RRR. I would like us to hold onto Jupiter but I think the BOD wants to exit out - and as a 1.2% shareholder, you have little say. Colombia, well it is what it is - will pay 1/3 of operational expenses and if a company can gain enough revenue to pay for running expenses and have a couple of million to chase a couple of new assets every year, in five years this could be a company which is unrecognisable. Will I still be here in 5 years, unlikely but who knows. I would like to see a small buyback of 150m shares and an investment in DRC. That with Steelmin and JMS is a good base, back in with Kenya and the future looks bright and pocket money from Colombia makes this investment very attractive. Lots can go wrong, but for me this is the best time I have seen for investment in the company for sometime. DYOR, opinions all mine.
Prep, they actually said JM has been travelling for 120 days. They did not specially indicate where unless that was a private conversation - I agree however with you on the boiler to combustion as been exciting and that the RNS is not a kick the can down the road announcement - it maybe the last topping up window. I am expecting a triparty announcement with a GOM (Exxon).
Could agree more Dougal - been in for ages and sometimes feels like a lifestyle company. I feel that that rrr will turnaround and we can see some value coming back but history has shown us otherwise. Too many failed projects and small time change that feeds Administrative expenses. I wrote to Andrew a while back being an expert in Colombia to help release value in El Limon. Never heard back. I hope that the royalties start to amount to something- would like to hear about shoats. Cannot remember hearing about Greenland or Elephant oil. Anyway still feel that steelmin could be a game changer, alongside Jupiter with Cobalt and Kenya topping it off, although I would like to see the experience on the ground and the relationships with the internal players of the country. Maybe Andrew will find the value he has been hoping for that can be for the benefit of all. Very happy to see the directors buying.
At no time did MK say that the signatures were signed. I was the irritating guy at the front asking all the questions especially trying to pin MK to clarifying what “on track” really meant with the hope I would tease out that it meant beginning the process. At that stage the tease was hoping to take me to the fact that no sane CEO would begin without a signature/contract. I think we have to be careful on Chinese whispers. My opinion is that signatures will be signed and the magnitude of work involved is perhaps far greater than many anticipated. Exciting times certainly. I am happy to keep adding although hoping for a small retrace.
Chemical Business separated - not too bothered personally. More concerned with radio silence from the Board and no AGM date, which evidently means - things have gone pear shaped, or that they are desperately waiting for the trial to start (assuming that it is aligned to power plant servicing shut down) to mention it. I thought that was today but stand to be corrected. On a psychological point of view - I would be expecting that the BoD are desperately trying to be able to hold their heads high and say, trial started - have a spike on the price, get an equity fundraise in to buffer the reserves to keep us going not to stay in the game. I would prefer that they actually say - you know that MMU that we didn't tell you about because we preempted the fact we didn't need to, and the trial we thought to tell you about, well we have just secured 11m tonnes. I think the fiasco with Maersk is really a tragedy as they are beginning to become in my opinion disrupted to the confidence of using scrubbers. I just hope the market is strong enough to go the scrubber route and leave Maersk licking their wounds for many years afterwards. Hey ho that's business!.
Not at all, their predictions were way too high. I have mentioned this time and again. Work on half at the moment in you financial forecasts. I like this share long term, but at the moment have been sucked into others.
They have finally acknowledged that they can plant around 3000 ha.per annum, which is what I have been saying all along - 3000-5000 tops, however then go onto say that by 2021, they will plant to 100,000 ha. Now I have to pop out so have only just skirmished over the RNS, but please tell me if I am wrong - 8 years x 3000 = 24,000 ha, + 3500 rehab = 27,000 (lets say (lets say they meant 3000 on each plantation - well that only covers 51,500 ha) - 50% of predictions. With $140m then they can plant around 27,000-30,000 ha, the rest coming from cash flow. Very short of cash at the moment, cannot sustain this project on short term loans so all hangs on the Long term Debt facility - secure that then this is a nice long term share. Risks are high, I am trolling on the side lines but will speak to the CEO before any investment for plenty of clarifications.
Weren't EP looking at a debt facility from the African Exim Bank. My belief an only an opinion is that before the bank can lend, an environmental study is required. If this turns out to be good, then they should bank roll it. Can you remember what the loan amount was that they are after. As for BioPalm, I regard them as an important link to aggressive development as being part of Siva group, a multibillion $ conglomerate no dout is good reinforcement for any debt. But as mentioned earlier, this is a long term bottom draw play - plenty of risks until around 10,000 hectares planted in my view and producing, but the upside is that Palm oil is not rocket science, although a disease, such as bud rot which we get in Colombia, can wipe out numerous years profits which you do not want early on in the producing phases.
This is a long term share - believe me - you need to be in for at least 5-7 years. If they hit half their targets then it will be around £1.20 + but there are so many factors, more dilution etc. They need to get to a critical mass of around 10,000 hectares to be anywhere near being able to plant 3000 per annum on cash flow and then that depends on CPO prices that have come down from $1500 to $700 or so. Once they get to 10,000 then they can probably bank roll the program. But it is not just planting 10,000 ha as it can take 3 years to produce (extraction is only a fraction as fruits are small) and therefore 5 years to get the palm producing to full flow. I will enter this and start building slowly but only with extra cash that I do not want for other more dynamic stocks. A nice back draw share
I they are rehabilitating 3500 ha, they have Shiva Ventures as backers, this company should be OK. It is a long term game. Look at 2 years minimum rhjoyes. I am looking to get into this company over the next two weeks after I have spoken to the CEO to clarify some points.
As I said, I stroll only occassionally onto this link, and see a couple of questions. I will have a look this week and answer, but as I am about to go to sleep not going to look at the operating costs etc. Is Siva ventures still involved in the investment of PAL
So did RRL two days ago and then 40% buy. I wouldn't look too much into that.
My take on this year are: MIO, (price today 3.63p) NEW (8.88p) and VRP (4.75p) give or take - and of course my company not listed.
Don't often appear on this BB but know a lot about palm oil so any questions when I do appear will answer. As for the business, this is long term but I am excited by the prospects. Now saying that I have not invested into this company - why because RRL, RRR are holding down my cash to invest but all going well, plan to make this one of the few long term holds (Long term for me is 5+ years), however at 1700 hectares ain't going to do to much to the cash flow. I am although not yet sure on the Mgt and Board.
I was really excited by this company, but having looked twice with the amount of shares in issue have been extremely turned off. 1000MW may only give equivalent to 0.02p a share and will this every get as much traction as say RRL who have similar shares in issue.
any cash flow problems with this low sp
pure theft - huge liquidity in Colombia, and very easy to raise money from the local banks or local investors by the way. The road show for Colombian new blocks start next month - and in my opinion they have decided that they can make more money with less rings to jump through going private. They should prevent this type of activity happening. What happened to those people who bought at 50p for instance. Mr Haddack - interested to know how one will sell when it goes private and who is likely to take them up?
I saw Cenkos giving a 5p SP target within 5 years. I have been watching these for a while, kept on thinking of dabbling but probably wait to hear some news. I thought they were going to be the next undercover, underexposed, undervalued share on the AIM but having doubts. Selling coal is very different from Green Energy. How many are just reliant on the CEO's past????