Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
People (or person) laughed a few weeks ago when I said this would be back to a £1 and yet here we are.
This is now very close to where my trading range is so will probably buy back in very soon. I'll probably only go in with half stakes though and keep some back because I am still very worried about what the accounts sill say. I am probably in the minority but i still think they will make for poor reading and the market will be underwhelmed.
People keep talking about IIs buying in but i actually dislike IIs having a large holding. They can decimate the share price (as we saw with Octopus when they got rid of their holding) and it wouldnt be beyond the realms of possibility that the current IIs get rid of their holding post accounts; whether they are good or bad.
Thanks for your insight, you've made a really valuable contribution.
I'm sure all the readers and posters on this board are hanging onto your every word. There's a few obvious rampers and an equal amount of obvious de-rampers who nobody pays a blind bit of notice to.
It is strange they paid dividends in December I can only assume that they were based on the old (and subsequently wrong) profit figures and were paid before the correct figures were known: they could hardly ask for them back once they were paid. I dont know how they will be able to pay any for a while now.
The big investors II are a funny lot. The company makes profit so the share price rises so the II sell to lock in profits for their clients. The company loses money the share price falls so the II sell to protect their clients as part of their investment strategy (eg/ Octopus). Either way the share price takes a hit when the II sells.
For all the other factors mentioned I am concerned that the next trading update/year end accounts is a convenient time for the remaining IIs to sell (on either good or bad news) which will see the price tank. Of course there may be others waiting in the wings to gobble up these shares.
Bobby hasnt sold and wont sell at this price but i bet he wishes he had sold at circa £10. The II's probably wouldnt have 'let him' anyway but can you imagine the effect on the share price if he had sold or indeed does sell. He would be a fool not to sell some if this rises from the ashes again but you better get your sell in before him because the share price will tank.
There will be no dividends payable for a couple of years (if there is no profit how can they pay any dividends?)
I'm not disagreeing with you wongtogo: As i keep repeating this is a good medium/long term investment but i think short term there are to many negatives and i honestly think it will go back below £1 over the next 6 months. The year end account/trading update will be what it is and even though we pretty much know what it will say im sure many investors are thinking its going to be showing a much rosier picture than what we already know is coming. Having said that ive seen plenty of shares rise on what i think is a poor set of accounts/trading update and many fall on a positive one.
People keep saying this was £12 a year ago and using that as some kind of bench mark and that it is only a matter of time before it goes back to those dizzy heights. It was grossly over-valued at that price (many shares do this in their infancy), it falls back and then never hits those same heights again. £20 a share NEVER, £10 a share unlikely, £5 a share possibly
This will never hit £20 a share. NEVER.
If this got anywhere near that price then i cant help but believe that those holding large amounts (including Bobby) would be locking a juicy profit in by offloading large quantities. This would have a devastating effect on the share price.
I do believe there will be upside from here over the medium term but i fully expect it to go down below £1 again over the next 6 months. The trading update/year end accounts are not going to tell us anything positive that we don't already know and you can tell me as much as you like that the bad news is already priced in but im not having that. Just read the posts on here! Investors are frothing at the mouth talking about the update this month, multi-bagging from here on the back of the TU? If in the unlikely event there is a sharp rise and it does hit £2.00 say, learn from whats happened over the last 6 months and lock some profit in cos it wont hold those gains.
I honestly dont care if it goes up or goes down. If it goes down below £1 again i will definately buy some more just because it fits a nice pattern of the range to trade in. If it goes up and theres reason to buy again at a higher price i will do that also; but almost certainly there will be nothing in the latest accounts to make me do that.
I wish you all good luck and this is all just my opinion. I am quite willing to come back in 6 months and hold my hands up if im wrong. However, i'll also be coming back and telling you i told you so when/if im proved right)
Projected profit of £8m!!!! not for at least 2-3 years.
We've already been told that there will be a circa £7.5 million loss this year. Break even if lucky next year.
I have a feeling theres going to be some very disappointed people on here soon.
I just dont get why people are expecting the trading update to be good.
It was loss making to the tune of £7 million for the last financial period. Why do people think this will have undergone a massive swing in fortunes in just a few months? If anything i think it will be worse. The move into water supply is not going to be profitable from day one and i still expect the margins to be a problem.
I do think there is scope for this company to be a success and but i'd be more bullish about the trading update this time next year.
I fully expect the market to take a negative view of the trading update.
Any historical loss making contracts and the move into water supply (and the associated costs) are going to severely impact on the profit margins and i expect the company to be loss-making and break even at best.
Hi V11JJJ certainly
Its just from experience and it is the 'norm'. I was saying back in December that this will take a couple of years and were almost a fifth of the way through that time. I would be astounded if it was resolved this year
I have said this numerous times before but to reiterate the FCA 'investigation' wont be wrapped up for at least another year. Personally i don't think its a major issue and in my opinion there's nothing to fear from this; its all just formalities.
I don't think the trading update will be well received by the market. My gut tells me that any gloss from the increased turnover will be taken of the update by problems with the margins.
I dont know how more transparent i can be. I have told you my trades and intentions before the actual event. When I bought i never ramped it and neither have a deramped it on selling: just given you my views on why i bought and why i sold.
Just like the rest of you i have formed my opinion and i'm allowed to voice it. Like i said i have read this like a book so far and called the last 6 months spot on.
I am happy to trade at the moment on my own take on what is happening here but that is not so say i wont buy again and hold for a longer time period.
I do not think this is going to multibag from here in the short/medium term. You may see £2.00 at some point but that is not going to be on the back of the latest trading update/results. I wont mind being proved wrong though as ive made my money by trading over the last 6 months on this share.
Good Luck
Sold my shares i bought on 26/03/19 (see my post) for £1.30 and got my 30% profit that i was looking for.
Dont expect this to continue rising folks. This is just a swing bounce after the aftermath of Octopus selling has 'cleared'
Bought back in here today. I sold at £1:20 about 6 weeks ago and stated then i thought it would drift and would look to buy back in at under £1.00.
Looks to me that an II has sold and that with the sell out of the way, given the amount of buying at this price i can see a quick 20 or 30% to be had
I really don't know what impact Brexit will have.
I just cant see where any good news (or bad news for that matter) will come from in the short term and thus expect this to drift on no news. I sold this week at 120 and will look to buy back at sub £1 as i think it will end up there within the next couple of months. Just my opinion though