Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Entirely expected, given the results RNS. And the connectivity market is just so cutthroat.
£250k for a a £13m revenue business feels harsh, but then it was loss making and a drag on the business. It's a pity that it's not a substantive amount of money they can use to go on acquisition spree or anything.
Still this will take IDE to a £11m revenue business, hardly going to help the share price.
That was also when they had three members of the board, things change fast...
I bought in initially at 37p! Then when it kept going down I kept buying more, stupidly, as I thought MXC were more in control than clearly they were at the time.
My last batch was 2.5p which was the fundraiser open to shareholders and I thought well the only way is up!
Yeah I'm surprised they haven't delisted before... they've openly said about the cost of being on AIM (which is a lot if you look at the current value of IDE).
Also I have to mention this with a smile (what else can we do?) was SquirrelFeather optimistically saying the company wasn't a goner because "The new CFO would hardly want to be associated with a failing company "
This company is the gift that keeps on giving! Six months in the role.
Agreed. I bought in at various points. I've had the value all wiped out. I will just hold them until I am eventually put out of my misery. It would be nice to recoup just SOMETHING from this.
Having now read the full RNS (that helps) it's clear they have spent a lot of time separating the connectivity and managed service businesses - even novating contracts between them. A year ago it was a split between partner and direct, but they seem to have changed that quite rapidly.
Still that gives clear understanding of how both are operating and to me selling the connect business is almost a given considering that activity and their other statements.
The managed service piece is performing nicely. Small, but nicely. It's a tale of two halves for sure.
The Nimoveri thing is a bit odd, as why is it still a trading brand and their MD owns and runs it according to LinkedIn?
Thanks jimbren. I admit I saw the names and thought that was the end of the RNS, I completely missed all the detail underneath.
Still don't think it'll make much difference though in how the results will be perceived.
Managed services has always been MXC's game and the connectivity market is a bunfight where scale is vital, so that makes sense to look at separating them out. But it does make IDE lacking much scale in anything.
£21m loss on £24m revenue though, that ain't going to go down well. And I do love the optimistic slant on "We don't have any debt apart from all that debt".
Will be good to see the full report when out.
I'm not completely up on this area... but I would have thought the conversion based upon privileged knowledge as a major shareholder would be not allowed? It could very well be based upon factors that are external to IDE and just relevant to Kestrel.
Thanks for sharing that, I thought his LI profile had some interesting content. "releasing business value to shareholders" is stuff we like to hear.
Odd that he joined last month and they're only announcing it now, and with that extra month they couldn't proofread the RNS... but positive news none the less.
Thanks for sharing that, I thought his LI profile had some interesting content. "releasing business value to shareholders" is stuff we like to hear.
Odd that he joined last month and they're only announcing it now, and with that extra month they couldn't proofread the RNS... but positive news none the less.
Yeah, I thought the tone was odd. But I guess he was installed when in crisis to have a hand in their investment, and now we're stable and at BAU he's moved off. Their investment level is still the same, so they wouldn't have done that unless confident things were back on track.
Do we have any thoughts on the implications of Sebastian White's resignation? I'm guessing he was appointed from Kestrel when things were a bit up in the air (polite way to put it!) but now the ship is righted they will will move off to focus on other investments. A good sign?
It sounds like there still was and still is some costbase reduction to do, so will take a while to filter through.
I think the focus on annuity revenue and the work they've already done has placed them in good stead. This set of results in the middle of a pandemic is good. And the thought of the pandemic hitting a year or so back when their costs were rampant would have been terrible.
"sorry - who is the existing customer?"
Don't be sorry, they didn't say. Many companies will be publicity shy. And if you're a shareholder you want to protect that client privacy. So I would suggest the board not go into rampant guessing.
However look to offices. For example why would a company like IDE have an office in Bournemouth of all places? They'll operate around where their major client(s) are. So have a sniff around at places like that to soon see who's in the area with that kind of money and support model.
It's great to see a contract win, and see a little bit of life in the share price. Now back to about the last fundraiser.
I'm not as optimistic on the growth in share price... indeed it may even subside a bit. There needs to be a steady patter of good news to begin seeing upward movement. Let's hope this is a start of that patter.
Yeah. Market cap 3m, that's madness. Hopefully we'll see some correction.
Due to fees I'm down 100.4% LOL. Not my best investment choice.