Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
The important factor to remember on AIM companies is you are putting your hard earned cash into a few individuals.
Unfortunately I have lost quite a bit here as I placed too much reliance on DLs sale of his previous company (slightly different as private) and the statements he and MR made in meetings and to other large holders on which we had placed reliance which I now realise were, let's say, completely incorrect.
I think Miton finally realised DL and MR were no longer investable and believe the terrible settlement with Bergen recognised assurances that they had been given.
I'm an investment trust man (75% plus of my SIPP and ISA), I have a few smaller company investments which have not performed that well (partly with smaller cos being out of favour) but I can see the management are competent.
Does this make ENET a buy or sell at 1p, haven't a clue. But those who have come on board recently need to look back at past RNSs / proactive interviews and see the lack of execution.
I used to run day long pipeline reviews with EMEA regional VPs and a wrap up session at the end with the EMEA DO to develop a weighted forecast. There were always names that cropped up with "in the bag / strong upside" deals which you completely discounted from a history of non performance - DL is in this bracket.
Aimgambler - yeah, watched that interview - probably best to see what was said at the previous ones and then see the execution. DL has a track record of over promising and seriously underdelivering.
A good idea to check out the RNSs on 6th and 20th March 23 and see the progress on these as well.
Until we see the $$$ (effectively the tarana run rate) this is just a toss of a coin.
Would absolutely love
1. A tarana order which gives a view of the full year run rate
2. News on the Chinese deals so that the stock has value
3. Something else……
A share cap in the mid term of 10m, no more stupid fund raises would suit me.
Wadogara.
Yes, its based on no news as thats what its been since IPO (excluding Tarana). Plenty of interest, talking to customers, at WISPA/MWC with a stand, word of deals with Cisco and Juniper in private meeting, ongoing trials, cash calls stating they're for working capital for major deals, updates in reports saying the future is bright / on a firm footing - all which has lead to nothing.
So what has now changed (excluding Tarana) ?
No, 100% dont work for ENET.
Longy,
CFO neither here nor there as long as they dont replace her role as VP finance (what a joke) but doesnt need to be and shouldnt be a board seat.
The position / function ENET most need is a strong business development VP to match tech with customer need, ENET are really not in the position to attract the best talent. I cant see them doing any worse than BK whose major claim to fame was the WISP brothers interview with a bloke who looked like a cross between Sherlock Holmes and the washington Shamen.
Watching.
"Patience is required", exactly and ENET doesn't has a shareholder base with any patience now and looking to hold for a couple of days/ a week. Before massive dilution management, institutional shareholders plus key PIs with a long term view (the latter two sold out) there was a tight register.
Since IPO ENET has not signed a new deal (not follow on order) with any material revenue.
All those who thought DL had a list of contracts on his desk ready to sign on the TSP exit didnt understand ENET and the market in which it operates.
Those pointing to the two "contracts" while in TSP didnt understand what these adjustments to existing contracts represented.
So without contract news we have a share register essentially full of tik-tok traders who are looking for a quick in and out, but without news for an out who can just see a drifting share price and the opportunity cost of other potential trading opportunities.
Without news in the short term there will be a gradual sale from these holders and without new buyers share price falls.
Trying to boost the share price pointing to an average book keeper being made CFO is comical, real news is needed.
You got a decent price !
I'm not a city boy so really dont understand how the MMs work AIM small caps, if your price is a buy the others look correct as buys. Why today is the buy price so low.
Agree with your medium term views on ACRM - the pricing just seems weird at the moment.
Watching - why is it an excellent choice , it is out of necessity and a limited pool.
Firstly, they cannot have another expensive CFO like MR whose salary was on par with a $20-30m company, and they dont need someone who pretended to have IR skills.
Second, what decent finance person would join ENET with a board they doesnt do governance and dis functional leadership team.
Third, from history there is little chance of receiving an annual bonus at ENET, and share options (compared to US tech companies in Israel) are meagre.
I have heard the CFO is a decent accountant who only works 9-5 on the absolute dot - but thats it and with ENET thats all you need at this stage (without the CFO salary).
Seen the lows and the further lows.
Prior to CFO, promoted from Director of Finance to VP Finance with a CFO above - in a business with a couple of million.
The company does not need another flash harry MR "acting" as a CFO in publicly listed entity, at this size it just needs a "good accountant" which they appear to have, however the board need to do their role as the questioning the SLT in lieu of a CFO.
Recent financial actions are the result of necessity, not great financial planning and execution.