Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Moulding literally hit his last set of numbers. Beat them marginally, actually. What a load of š©.
@steveinhull
Iām not really sure why youāre here? You seem very negative about Thg? Another āfrustrated LTHāš¤£? Or just short? Or hoping to get in lower? (Feel you might get disappointed there). But if you want a discussion letās declare our respective positions; Iām a LTH.
* Thing is that list he wrote is nearly exactly the same that people were posting two years ago*
Okay so letās go through my list:
āStarting by legal separation of the divisions (huge)ā¦ happened last year not two years ago.
ā heās (this year, so far) delivered guidance, given up the GS earlyā¦ this was a comment about this financial year, not two years ago. And the GS clearly given up this year.
ā bolstered the BoDā¦ Lord Allen was appointed 18 months ago, since then several v impressive NEDs have joined until very recently so BoD strengthening was not true two years ago.
ā we have a growing nutrition businessā¦ nutrition has always grown & continues to this year.
ā beauty returning to growth having been impacted by an industry-wide issueā¦ referring to its return to growth this year but beauty has grown on a two year basis also.
ā are seeing some brilliant innovation in nutrition (brand partnerships)ā¦ pretty sure vimto and jelly belly were this year and certainly not as far back as 2 years ago. Chupa Chups to come this year & a full line up of new brand partnerships for 2024. Collagen products v recent too. Nothing to do with two years ago.
- landed some decent ingenuity contracts (matalan, LāOrĆ©al, asda)ā¦ certainly the first Iāve heard of LāOrĆ©al and Asda. Nothing to do with two years ago.
In short - stop talking ****.
Thanks Canary3 and no worries.
@polishcap šššš
Steveinhull,
My message was in direct reply to jgallaghās concern Matt would try to do a cheap MBO. My point was that he canāt having made those public statements. What brokers think is irrelevant in that context.
Not that I really think heās trying to MBO anymore.
@jgallagh,
I think our protection against a cheap MBO is that we know weāve had bids at Ā£1.70 and another likely above that. Heās said the former āsignificantly undervaluedā the company. The business is in miles better shape than it was then - lower costs, receding inflation, big infrastructure projects completed, etc, etc.
Although I donāt think weāll see an MBO - my bets are on a premium listing / ingenuity spin-off to list in US - if we do get one I think itāll be at a price that most on here would rip his hand off for. He simply has to go āsignificantlyā above Ā£1.70 imo.
KnockOutthePin,
Spot on. Always has been a long term play for me. Iād obviously like the recovery to be swift & steep but Iām not banking on it. In 5 years weāll be many many multiples of the current SP.
If you canāt be that patient, need the money, or you know of other shares that will deliver that more quickly - sell up and invest there. But Iām not so sure I know of others that I feel so confident are undervalued and will multi-bag with time. Potentially more quickly if MM has some positive corporate action up his sleeve.
Also no selling pressure either. Those that are in are in. PIs not flinching, IIās holding firm too.
As soon as buyers return, which they will, weāre heading up.
We have. And there has been.
- a 170p bid rejected as āsignificantly undervaluingā the company
- an unknown bid thought to be higher by one of the worlds largest pe firms
- early relinquishment of the gs
- then just last week we heard Matt say heād received multiple bids for nutrition at prices well above the current sp for the wholeā¦ and
- there may be a point āin the very near futureā where our interests are best served by separate listings.
Not sure what type of firms others invest in but thatās quite a lot of news to me. Itās not had the desired effect yet, but I do think something will be going on in the background re: strategy and/or hostile bids that will before too long.
Absolutely agree ihavenoclue.
Kelso are as powerless as all of us. They get far more discussion on here than their influence warrants.
But I did think their last RNS was spot on: decent enough results, appalling lack of update on strategy. I imagine because weāre close to something being announced.
To be honest, Iām not sure what purpose genuine holders venting their frustrations on any bb serves?
I have gripes, Iām losing patience over the lack of information re: strategy, but thereās no point going over it again and again and again. Posting 10s of times a day about it.
OAC has suggested some practical steps those who are frustrated can take. Itās good advice. Much better than repeated venting on a bb.
FWIW, while I take issue with some things Matt does, heās doing a lot right: Starting by legal separation of the divisions (huge), heās (this year, so far) delivered guidance, given up the GS early, bolstered the BoD, we have a growing nutrition business, beauty returning to growth having been impacted by an industry-wide issue, are seeing some brilliant innovation in nutrition (brand partnerships) and landed some decent ingenuity contracts (matalan, LāOrĆ©al, asda). Thereās a lot going on at THG, a lot to be excited about. Itās not a stagnant business in decline and he deserves credit for that.
But amongst all the frustrations being aired on here I just ask myself one simple question: do I think the SP will be higher in future than it is today? The answer is a resounding YES. Iām 1 million percent certain so itās just a sit, hold, top up for me. NO WAY am I selling on the cheap even if itās a bit cheaper tomorrow or next week.I wonāt be working myself in to a depression while I wait for that day to arrive.
After the complete lack of strategy update, his points about wanting to remain a D2C-focused organisation under his leadership were the most disappointing part of H2 results.
Weāll get more on strategy at Q3 update or before though, fairly sure on that.
Itās blatantly obvious what Kando (and others) are doing here. And dedicating a significant amount of their life to their cause judging by their lengthy posts. Anyone with a brain cell can see it.
But I think theyāre wasting their time.
LTHās here have read it all before, anre pretty hardened to the THG fud and generally have placed their bets and sticking to them. They wonāt sell based on a poster on LSE. IIs arenāt selling either. Itāll go up or down now based on the macro which none of us can control or foresee in the main. It may go down or it may go up.
Until news. Theyāll just have to hope theyāre in if that arrives else theyāll miss the boat.
Thatās not actually true jrlomax.
It has some great products, yesā¦ āļø It also: Manufactures great products āļø
Has some fantastic brands āļø
Increasingly develops beneficial partnerships with other great brands āļø
BeNefits from vertical integration with some pretty unrivalled innovation and time to market āļø
Divisional separation offering strategic optionality (if it had a strategy) āļø
Has leading technology most recently recognised by Gartner āļø
Seems the order of the day here is to talk THG down, but letās have it right.
I personally still hope there is an interest rate rise tomorrow. Itās trending in the right direction but still high and we need to strangle it now and not risk any prolongation.
Welcome back sb10000
You picked a good time to go away. This place has been a nonsense and Iāve been avoiding it without the sun/food/drink to distract me!
The Kelso note was great, straight to the point. I personally think Kelso have little to no influence given their holding, but a nice voice for us PIās nevertheless. I think time is running out on a meaningful update on strategy and weāll see it in October, if not before, but certainly before year end.
If they just trundle along without taking some meaningful actions on strategy to unlock value for beleaguered shareholders they may see some very different results at the next AGM. I think thereās a reason the 65% remain supportive and thatās because they know the plan. But their patience will wear thin.
Not for me and Iām holding come what May.
Firstly, the H2 statement was in line with expectations, ahead in some areas. It was exactly what I expected. It was a good updated operationally, albeit Matt was in his usual mode of being less than forthcoming on strategy. Anyone disappointed with it can only be so because of the lack of strategy info, per Kelsoās very well worded statement that avoided all the hyperbole posted on here in recent days and got straight to the point. If they were disappointed with the numbers they simply didnāt understand the guidance.
Secondly, just as I expected H2 to disappoint on revenue and be in line/marginally ahead on Ebitda/cash, I expect Q3 will be more positive. Then we have to hope we FINALLY get something on strategy which Iām guessing is going to be significant else I donāt see why they would keep it under wraps.
Selling at these lows as the economy and business conditions improve as the year progresses - and with the prospect of the big strategy news we know must come at some point - would be the definition of madness in my opinion.
If it helps Manc, I had a salt & pepper chicken for lunch. Absolutely delicious š
Like OAC Iāll be back once the nonsense posters subside who I have zero respect for and would never let influence my investment decisions in a million years.
Holding. Quite happy with results. Expect Q3 will look a little better. All the reasons I invested are still true. Great business with good opportunities. Goodbye for now.
Haha thanks Barclays š
Imagine the expansion potential of the LāOrĆ©al account!