Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Hi Maverick - just seen your post re: the upcoming interims...
I'd expect them to provide a very positive forecast for H2 (pretty obvious, really, the way the gas price has remained 'centre stage' since end June) unless the new PM suddenly cripples sentiment towards the NS energy producers again, shortly after moving into No 10, like Sunak did...
If Liz Truss wins, that should be very unlikely by all accounts and Serica can / should pay out much more than the indicated 6p ps interim - agreed.
As for Kistos having another go at us, they can't come back for another six months after withdrawing their offer but it's 'open season' for others, of course.
Just hope ACW / MF are now well aware of the need to be genuinely proactive in respect of their M&A surveillance and really utilising their substantial cash hoard to major advantage at last - sasa.
And you accused others of being 'turncoats' here, I recall, upomega - do make your mind up; these huge swings in the gas price will affect all O&G producers, including Kistos whom you now seem to warm to... sasa.
Hi NewK - well, that's all I can think of, tbh, apart from a sizeable Serica holder or two, reducing their position somewhat but ahead of the bumper interims expected in a fortnight or so with other possible announcements to be made, would seem rather premature to me...
A possible negative 'leak' re: North Eigg, might explain it but even then, such should only be a temporary setback, if confirmed, given the dramatic benefit of the gas price upsurge on our existing profitability / H2 outlook, as things stand - sasa.
Of us yesterday and Kistos recently, might also be due to each unwinding their share accumulations in each other vis a vis their recent offer activities?
Both have retreated quite sharply; Kistos earlier last week and now Serica (more than most O&G shs on the sharp NBP decline yesterday, it seems) - just a thought... sasa.
'Don't look at the waves, look at the tide' - nice turn of phrase, there, bumpingalong - very appropriate in today's situation, I reckon...
Apparently, much of today's steep decline in the Uk gas price is due to Germany's storage tanks reportedly now being 85% full, coinciding with Ursula von der Leyen's comment about the EU devising a plan to separate power prices from the price of gas - interesting to see what they come up with, bearing in mind the onset of Winter getting inexorably closer...
Meanwhile, I'm still 'running with the tide', ahead of the upcoming H1 figs., fwiw - sasa.
Well, anything's possible, I guess, upomega but we're probably too small for them production -wise but if Nth Eigg comes in, that might change things somewhat as it'll surely enhance Sth Eigg's CoS, too. And then there's our cash, again, I suppose...
Should be an exciting couple of months ahead, anyway - sasa.
DRB83 - suggest you wait for Serica's H1 figs out in a couple of weeks time and then Nth Eigg's drilling results in October before reaching a conclusion. If the drilling outcome is successful / meets best hopes, it should double our P2 reserves; if it isn't, then the approx. cost will be minimal after development allowances when viewed against our £500m+ cash held.
Hope that helps and very much like HBR, too, after their figs. last week - SQZ and HBR are my best 'picks' in the energy sector right now, fwiw - sasa.
Thanks Geng / ShadowLess - I had 1m shs at an ave. of 7.3p, so the painful decision wasn't taken lightly. In hindsight, I should have traded them quite actively to get my ave. down as you successfully did, Geng, &ors, so well done there; astute moves in the event...
I never trade my positions, fwiw, as it doesn't come easily to me - I occasionally add to holdings, though, either up or down, preferably the former, where the fundamentals remain intact, so there's probably a lessen there for me in future - sasa.
Hi ShadowLess - it's obviously 'Hobson's choice' to a large extent - the payout SHOULD go through within the ascribed 90 days and the residual 0.5p mkt price would render a sale now as being rather hasty, admittedly but it does remove the remaining risk which, with Mr Putin around, weighs heavily on such a decision, imv...
After more than a decade in this and very costly it's been to boot, I prefer to salvage what's left and try to redress matters overall...
GLA to the remaining stalwarts; hope it does turn out better for you than now - sasa.
Hi Mommur / raxfactor - very understandable about reducing exposure as the sp trades even higher due to the almost inexorable rise in gas prices - the decision will have to be made, though, for a reversion to the norm is almost inevitable at some point but when?
Judging by the impressive results from Harbour Energy out this morning, Serica (being much more heavily gas orientated) should also produce outstanding results next month.
Being on a possible p/e of around 5 or thereabouts even now, as as far as I can guesstimate for the full year, and stuffed with cash, it's still difficult to find better value elsewhere, with all the other possibilities we've discussed on here.
Keeping a lot of cash on deposit for a while as an expedient move, would be more appealing if inflation wasn't so rampant either; waiting for the mkt to oblige by dramatically retreating soon would justify doing so but again, guesswork.
Oh, decisions, decisions... - sasa.
Hi JEZZAC - yes, I hold my hand up as being one of the £1 value subscribers back in the day - that figure was based upon stats applicable in a markedly different state of affairs applicable several years ago where the potential was considerable / sentiment riding high, etc., - how different the world is now - if only one was clairvoyant!
I've now just sold my holding, fwiw, taking a sizeable 'hit', like most of the long suffering LTHs on here, no doubt, to bring the long running nightmare to a close at last and look to recoup the loss elsewhere over time...
'C'est la Vie', I'm afraid... GLA, anyway, for the future - sasa.
All O&G companies, especially the gas producers have got very lucky, obviously, this past year or so with prices so high; none of 'em saw this 'blessing' coming, though...
Clearly beneficial for all of them but for nobody else - sasa.
Soder, I have to say that your utter disdain for ACW / MF and especially the former's efforts, whether by luck or judgment, is quite extraordinary, given where Serica is today and it's buoyant sp. The success of an investment, or otherwise, is all that matters ultimately...
Can't imagine how you would react if you were sitting on a big loss! - sasa.
Hi RELLIM - echo that...
Like you, I've been in the mkts for yonks (probably too long, some would say) but one thing I've learnt over time is that, provided the fundamentals remain sound / the potential is supervised by competent management, patience is all that's generally required over time...
Although the numerous facilities surrounding the investment game have radically changed since I was on the floor of the LSE in the 60's, those underlying requirements remain sound.
Many peeps know this anyway but find it difficult to exercise the required discipline beyond the short / medium term which, unfortunately, often leads to them missing out on a really significant outcome - sad but true - sasa.