Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
This ain't the last dilution.
This is the fundraising part.
Prem still need to put more shares on the market to pay GR back, pay Zenith, and pay Goddard.
They're just announcing it this way around to get a better price in the subscription.
They reckon the subscription will close 17th April. So they'll announce the rest of the dilution on 18th April. Then Goddard will have to wait a month before flogging their shares at basement prices, just like last time.
No mention of the sorters still. So it's hand sorting with dozens of extra labourers, increased costs etc still.
Classic Roach RNS. Lies, smoke and mirrors.
Someone mentioned Canmax being able to take payment in shares and I wondered if anyone could shed light on the floor price there.
In the renewed agreement, Canmax can claim shares in Prem instead of missed shipments (currently about $9M and will increase to $12M at end of April).
This is at 90% of vwap etc with a floor price of 0.32p -but that floor price is subject to changes in Prem's capital structure I.e. if Prem dilutes then the floor price drops... I think.
From what I can see I think Prem had about 22bn shares in circulation at the time of the agreement. And if they use up all the newly approved shares the number would be about 31bn which is dilution ratio of about 1.4ish... which I am guessing drops that floor price from 0.32p to about 0.22p....
...is that roughly correct?
So in one breath we are told they will not be making running commentary on regulatory approvals or country launches.
In another, Barder says they've got to tell us information as soon as it happens.
But apparently the product has finally had full launch in France, Germany, and I think Spain, and there have been no RNS releases about these. So I guess the first comment about no comms is correct and Barder's comment about his legal duty to inform the market was just gas lighting.
To be clear, he does have a legal duty to inform the market, its just his stated recognition of this that is the gaslighting.
Still, they're embarking on a many-months project to update the website so, like, comms strategy is a go.
He's broadly in favour of whatever Putin's troll army tells him to be in favour of.
They've convinced him not to look at the Russian hand sticking out his backside by telling him everyone else is a puppet.
It's ironic but ultimately pretty sad.
To be so controlled by disinformation while thinking *you* are the only one who's "awake".
Epstein had a painting of Bill Clinton wearing a blue dress. The same artist made a painting of George Bush playing with paper planes and jenga towers called "war games" in 2012, and there's no evidence that was also owned by Epstein.
There are lots of conspiracy theorists that conflate the two.
Even if Epstein did buy the painting of Bush, made by an art school student a decade after 9/11, it doesn't...actually... mean anything.
https://news.artnet.com/art-world/artist-epstein-clinton-painting-1628953
Me: if you don't have a link to back that up then nobody is gonna believe you
Watcher: it's all over independent news channels! [Still no link]
Watcher getting agitated: sheeple! Sleepwalking! There's fluoride in the goddam water! Meep! Blarp! Wibble!
Me: ...some libertarian, MAGA, conspiracy theorists who all post the same headline but never post a link to a news website.
Watcher: there are announcements on it including honda themselves...its true. [Still no link to source]
Me: Oh right, why didn't you say. Totally convinced. Tell me again about the New World Order
Can't find any mention of Honda shutting down EV production beyond some libertarian, MAGA, conspiracy theorists who all post the same headline but never post a link to a news website.
There was a story recently about Honda and GM giving up on a joint program to make cheap EVs but that's far from the same thing.
i think both mercman and sbrace06 have good points.
we have all seen the sure thing turn into the dud because of any number of reasons - the jv partner pulled out, the ceo was a charlatan, the rns had been misleading, deadlines somehow got missed, penalties crept in, oh the quality of the dirt was inconsistent... and did i mention the charlatan ceos?
that makes all the more reason for both cases.
in the first case, you can never trust anything on aim really. there's just such a lot of lies and misinformation and stockbox-bull****tery. so if something is going well it's probably not a bad idea to take some money out of it - whether that's to fully free-ride or not.
at the same time. there are so many duds out there... when you find something that isn't just some stockbox-hype or some lifejacket-wearing, lifestyle ceo, lying to everyone... it does make some sense to double down on that solid prospect. spreading too widely is just a guaranteed 'house win' as mercman said.
the personal choice really comes in to how much you take out in the first case and how much you "double" down in the second. mercman took profit from kod and put it into bres (from memory) so he is on this spectrum the same as sbrace06. but he's definitely pretty heavily into the "back the winners when they emerge" strategy - which i have also taken with kod.
but a spectrum is a spectrum and we all have our own risk appetites.
in theory, if you constantly take profit out and reinvest across lots of aim shares the house will probably win - just as mercman said. so being ultra low risk can end up being high risk.
but if you always go 'all in' on the best looking aim share of the day then ultimately one day... you'll end up backing that lying buzzard old man in the lifejacket who was lying when he said he had the dirt and... the house wins.
so - as johnny cash said: you gotta walk the line. and how anyone does that is, well, up to them.
...
man, i'm really effing sanctimonious and all platitudes when i'm on the vin rouge.
Nobody has any reason to buy until the US launch happens.
Because Barder told them he'd be burning through cash faster than sales until that point.
So even a small volume of share selling will decimate our SP because who's there to pick it back up?
Still, good opportunity to average down.
When the US launch happens in 2024 it should finally counter the Barder Death Kiss.
Everything is a marketing tool. From the staff handbook to the TV advert to the invite to the office Christmas party. Every output tells someone what your company is all about. And in the absence of any other PR or basic marketing from Futura, they really do have to make the most of what they do put out.
Barder's family Christmas cards must be a real hoot.
"It's Christmas. Techniclly another year has passed since we last wrote. We will write again at the next Christmas. Signed, James Barder and immediate family."
This is still the Barder effect.
Of course the RNS itself is basically like someone being forced to apologise and doing so in as few words as possible, through gritted teeth while looking anywhere bit at the person they're talking to.
But also, he recently said come back in 2025 for profits so the market knows these new sales won't put us in profit. Why would they buy in?
If this was America there would be a dozen legal firms proposing a class action.
We are down about 8% in the past 12 months despite smashing targets throughout that period.
EU launch
Sales beating expectations
EU Patent granted
US approval granted
US commercial partnership agreed
More approvals in Middle East
Launch imminent in Middle East
Company producing revenue
Company will probably never need to do a raise again.
Boom! We should be flying.
But no.
The market is really depressed because the global economy is depressed and because you can put your money into a current account and get 5% interest. Many pretty safe and stable dividend companies are paying 10% interest. Money is not flowing to AIM companies at the moment, its flowing away.
Enter our illustrious leader.
Hey guys, we won't be in profit until, well you'd probably be better coming back in April 2025 or maybe even September 2025.
Market response: well, if you say so. I'll go put my money into legal and general for a bit then.
And all because they don't want to hint at when the US launch will be. And obvs because they don't do any promotion of the company or its progress beyond the statutory AGM and interim report.
Would have been simple to say- when the US launch happens, we expect to be in stable profit from that point on. The launch will be 2024.
But nope. Take your money, come back in 2 years. Classic Barder.
Except we have had several 4 week extensions.
They're on a rolling 4 week extension.
They did one 8 week extension during the summer but the rest have been 4 weeks.
4 weeks is the norm for KOD and hainan extensions.
Why read anything new into the extension period now?
Surely the phrase "coming weeks" doesn't specify a date.
3 weeks, 4 weeks, 5 weeks or even 7 weeks would all qualify as "coming weeks".
Kodal staff do no know when the Mali government is going to sign off the transfer of license from Future Minerals to Les Mines de Lithium de Bougouni. All they can know is that they've completed everything else and submitted their request for the transfer.
West they also know from the published Mining Code(s) is that there are very limited reasons allowed to refuse such a transfer and none should apply in this case therefore the signature should be a formality. And signed, in the coming weeks.
It is very frustrating. We should be seeing pictures of Chinese execs stomping around active/completed works on-site around about now, going by the recent RNS.
Maybe that'll happen tonight or tomorrow and we will all feel at least like the BOD is giving us something. Maybe it won't and I'll join the queue of baseball bats and balaclavas at the AGM... jokes!
But, I am strongly in support of the "silent running" approach when it comes to talking about delays that may hinge on government approval (for transfer of license from Future Minerals to Les Mines de Lithium de Bougouni, i expect is the final condition).
This military junta's slogan is "respect our sovereignty, our sovereign decisions and our strategic partners". It's directly aimed at France disapproving of Wagner and the approach to terrorism in the North. But their ire also covers the UN, the US, EU and other ex-colonial countries...
...add in a mild annoyance at Western mining companies that the government recognises it needs but also considers they've been taking too much without sharing the spoils sufficiently...
...the last thing Kod wants to do is give the impression that it's trying to use social media or interviews or whatever to put public pressure on the Prime Minister to sign that approval. That's not how you show you are respecting sovereignty and sovereign decisions.
The big news was sales are exceeding expectations. That should have meant a boost, maybe just a small one but a boost nonetheless.
But Bashful Barder's focus instead was to tell the world that we won't make "sustainable profit" until 2025. So everyone backs off and waits a year.
Bit annoying because by any analysis I can think of, the company will be in "profit" next year- but Bashful clearly doesn't want to include one-off prepayments or milestone payments in his projections. His use of "sustainable" indicates profitability from sales only I think. A most Conservative approach.
You know, after the first World War where countries had used major ad campaigns to keep people focused on the war effort, "propaganda" and advertising were considered dirty tricks. It wasn't until a chap called Edward Bernays wrote the book on commercial marketing/propaganda in 1928 that companies began to think it might be legitimate to advertise and promote your company to boost public engagement.
I suspect Bashful Barder never got the memo.
Key things said:
Eroxon® sales to date have exceeded targets
Eroxon® expected to gain around a 20% share of the clinically proven ED treatment market
Key things left unsaid:
Projections on what revenue can be expected from 20% of these markets as we rollout the dozen or so countries in next 6 months.
On Monday, the company is going to announce its first "results" since putting its first and flagship product on shelves. Depending on just which payments are included in the period, it could be the first set of results where the company is in profit.
The market volume is tiny, the share price flags.
No "Friday FOMO" here!
Is it:
A) the market thinks there will be nothing much in the results, too soon to tell and no exciting "forward guidance"?
B) the market has forgotten FUM exists because while eroxon has marketing, FUM is like Red October, slinking through the depths without a sound?
I don't like or even trust companies that focus overly on twitter. But it is necessary to remind people that you're a going concern and it is a basic necessity to have a digital footprint in this digital age.
Maybe Barder is hoping to keep the SP really low so they can implement much cheaper buy-back schemes.
Kudos for the laser-beam focus but now the product is out and rolling out in ever more jurisdictions, its surely time to broaden company activities to include basic corporate activities.