Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
SNN, I cannot believe that actual bad debts will be anywhere near 7-8% (ever). If 7-8% of all companies cannot pay their bills, the country is in big trouble. Actual bad debts should be way below this level. The impact on profitability of these provisions in 2022 & 2023 is unknown, as YU will be providing against massively increased sales.
I don't understand why ROC payments cannot be monthly instead of annually. They could be estimated until final figures are calculated, & it would be much easier to see if a company had financial problems, if they missed a monthly payment.
I believe talk of £1 dividends are a bit over the top, although they would change my life. They need to keep some funds for potential acquisitions. Once you pay £1 dividends, you cannot reduce them. I suppose they could borrow to fund potential acquisitions.
IP, the bad debt provision is 7.4%, which is very prudent. I would expect bad debts to be minimal this year. They will probably increase next year, but if actual bad debts reach 7.4%, then the country is in real trouble !
There have been a few £10k sales in black in recent days for round sum amounts. I'm wondering if these are not really sales, but shares being sold & then bought by someone specifically. I may be talking rubbish, but just a thought
SNN, I've been thinking about your bad debts at 5.5%, and I believe that you are spot on. YU have been really clever putting in a 7.5% provision already. Could mean they reach £20k net profit far quicker than anticipated.
I have been wanting to buy more shares in YU, but my other shares are doing so badly, I refused to sell them at a large loss. Just re-visited my plan, and cannot buy any YU currently. Might hit 250p today if we are lucky.
I do find it strange that there was no movement in the share price when the superb results came out. Now, when there is more market turmoil, and no news on the horizon, we are flying. Markets will always be a mystery.