Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
After a quick read .. Why has this financial formula not been put into practice until now. And why has it been wrapped up and parceled in such a way that it state’s impairment costs have rocketed to 80+ million in six months.. Just Not Believable
They have dumped every bit of bad news and more in the first half….. THIS is Not NEW in corporate behavior. Please use common sense in all this ,why would any company do this in a six month trading. Period … reason to clear the decks for the new team .I’ve always suspected they’ve hidden the carry over of defaults from the old Door step lending daysDon’t forget my friends if the new team discovered such behavior the old management could be held to account even though they no longer work there. In one way what has happened is not a bad thing at least no more skeletons in the closet ( we hope) . The company now is geared for growth.
Theborn … thank you , the points you make are clearly valid and hugely important in assessing the reality of today. Call me old an old cynic but new brooms want the pantry floor clean before they move in, especially those with a glowing past .
Impairment charges ( defaults on loans) presumably have more than doubled from 35 million to 85 million, I find that hard to believe in only a six month period. It really wouldn’t surprise me if any overhanging debts from the past have been finally bundled together and written off making it a clean sheet for the new boy , but hey ho we will never get to know that .
Interesting article today in AJ Bell’s weekly Magazine. Vanquish has dropped 20% in the last 14 days blaming possible defaults on old loans.. personally I think most was written off ( I hope so ) otherwise what’s been the point the over the last 4 years .
They also point out that Vanquish could be Vanquished from the 250 if the trend continues.
Haven’t posted for a while although read comments. Personally I think many are getting tangled emotionally with this company whereas the market see nothing but gloom on the defaults. There is no doubt the car market is heading for a crash, PCP returns are gathering momentum and credit card usage for every day bills is increasing… I will say no more draw your own conclusions… sadly i’am invested also but at least we get a decent dividend whilst we wait.
Well said Halifacts … common bloody sense at last.
Clearly some of these investors are way ahead of me with technicals but clearly have no idea on the time it takes to restructure a company of this nature to give it a true commercial future. Apparently the new CEO has a reputation for aggressive growth, now is the time .
What’s all the fuss about… these boys are leaving the company , probably want a bit of cash in this tax year before April 6th , you’d do exactly the same .
It’s been a long and painful process turning this company around but I truly believe the building blocks are firmly in place for the NEW CEO to drive this company forward… he has a reputation for all out growth.
Market sentiment…unfortunately it is the way it is at the moment in this segment, if one has the patience and the balls 12 months from now could be a totally different script. Can’t say I’m happy but it’s happening with other stocks for no apparent reason. The boys in the city love volatility that’s how they make there margins .
I’ve said for some time PF needs to change its name to reflect what the company is today… A positive move ??