Member Info for TangerineMan

Following the resignation of the CFO, I know a lot going on at the "Group" but according to Co. House records, he has not been removed at Co. House (just checked). Perhaps they will do this when they name an interim/replacement.

I believe it is highly likely the funders will have a large part in agreeing to whoever is appointed as the new CFO, given the interim statement from the company last week re the unfinished Deloitte review.

It is also interesting reading the 2023 Y/E accounts. If as much comment had been made on "going concern basis" as ESG and other matters, and more action taken, perhaps the company would not be where it is now.

The various funding facilities to the group, as commented on in the 2033 Y/E accounts, are far from clear. The debt facility from "private US entities" in US $, also interesting, albeit a touch vague.

In view of this, I think the US will have a big part in what happens to the Wood Group.

I believe nothing will be clear, till the full finished Deloitte review is published.

We have had a tiny tick up, in the last few weeks (albeit from very low levels). I suspect we will see a gradual re-rating, back to higher levels of say 18p within 4-6 weeks but just my personal view.

As Warren Buffet advises, "better to buy a company, where you are paying just 50% for 100% of the assets". Of course, he has other pre-requisites IE "a great business" and "good management team". Time will tell re the latter two points but you can currently buy the shares for a good discount to BS total".

Continues: A great business and great management team, along with many other factors. But the assets are at about 50% of BS value!

We have had a tiny tick up, in the last few weeks (albeit from very low levels). I suspect we will see a gradual re-rating, back to higher levels of say 18p within 4-6 weeks but just my personal view.

As Warren Buffet advises, "better to buy a company, where you are paying just 50% for 100% of the assets". Of course, he has other pre-requisites IE "agr

A company, being a part of ACAM.

You are correct Lochnogary. Current liabilities, anything due payable or for refinancing within twelve months. Long term liabilities over twelve months.

I only have a small position, taken out in Jan 25, so am currently underwater but insignificant in the context of whole portfolio. This company was one of five small holdings, I thought could be subject of takeover or uptick in performance in next few years. We all make the odd investing mistake!

Anyway, given the indicative cashflow position for 2025, which we are advised will become positive in 2026, if the company had a rights issue, on a one for one share basis, at current price of say 26p, to raise say £178m (roughly equivalent to what company capitalized at tonight) would all posters and shareholders subscribe to the rights issue?

The cashflow issue for 2025, could virtually be eliminated, balance sheet strengthened, give confidence to the company's lenders and I suspect would immediately increase the share price of the enlarged share capital, past today's close of circa 26p.

I for one would but how about everyone else or are the majority on here just looking for a quick % return, buying on the dips and selling on the ups?

Just a theoretical question but would be interested to hear the views of posters.

Not a holder but an observer of the company for a long while.

I think the RNS today is a part damage limitations, by letting everyone know that the Deloitte review, whilst found some things (reading the RNS between the lines) will not be finding even worse errors in the books.

Perhaps the reaction to the SP today (as bad as it was) is less than it might have been, had the Deloitte review been published when completed, without any advance extracts.

The lending facilities due for expiry, when they are, is a concern but with the order book they have and majority of customers undoubted and blue chip, I suspect they will be able to get facilities renewed, albeit on more expensive terms and with stringent financial covenants.

As the saying goes " the jury is out" but order book and client base is of value. Predators may hover once Deloitte have produced their report.

Good to see more activity and the small tick up, after few days of no movement at all. May it continue to reflect the longer term potential.

I would much rather be in a share which is actually generating cash and has the infrastructure in place, than have all my eggs in companies, yet to produce operational cash and have the costs of putting infrastructure in place, before they can process material.

Yes, hiccups along the way and communications from company could be better and more specific re figures but cash being generated!

Just seen this was posted seven hours ago. All about first months production under their ownership. Nothing new not mentioned in other podcasts but just letting everyone know. Might be on their website as well but not checked yet.

Third day of SP ticking up, although many in the sector blue last few days.

Volume up again for third day in a row, mirroring the similar high volume in GMET, although GMET also benefiting from increased buys on the OTC in the USA.

Not before time that the POW SP recovered a little.

All we need now is some positive RNSs re one of POWs key projects re uranium or in the Middle East, to get the SP back to nearer 20p🤞

I agree ICB888, turnover on the OTC very unusual, especially when looking at the previous daily volumes.

Not sure what the spread was on OTC was on GMET on Friday, as that might explain the equivalent of 39p. I believe Oliver is speaking in Miami, so possibly pre-interviews re this in the US has caused the buying of GMET.

The last two days uptick in POW, is also interesting with large numbers of buy trades.

As you say, tomorrow morning could be a nice surprise on both shares 🤞although as a long term holder in both, I am more interested in what the SP will be in three to five years, as I suspect both companies will be totally different sized entities, at least in what they are each capitalised at then but that's just my opinion.

Yes PaulFG, over US$100k traded on Friday on the OTC and I also noticed the price difference, between UK and US. Will be interesting to see where GMET opens on Monday. Also interesting that POW, with its near 40% stake in GMET, had much greater volume of share activity (and buys) in the last two trading days, ticking up by 0.25p on each of those days. Possibly some news on the way?

Today's RNS is interesting for what it says but as already asked out by Frogkid, what will the profit be on the material sought.

A number of points here: CASHFLOW- Whilst some share dilution with paying for the material with shares, retains and helps to build up cash, to be used for working capital/costs of maintaining power supply and "fighting fund" for whatever Leon and the board have in mind re future strategy. Cash is always king, especially with AIM mining companies, be they mining or processors.

GPM: The company plants will now have higher operating costs and fixed costs) no doubt for guaranteed power supply (when the guarantee works!) Leon and his finance team should have worked out the GPM on the material bought in. Perhaps not shared, as gives sensitive info to seller and impact on negotiations re additional material bought in.

Contingency plans: at least if there are issues with acquiring fresh material to process, the company can fall back on their tailings stock to process, to contribute to fixed costs, rather than have idle processing plants.

Taking options out on sale price of processed material: As the company is paying a higher price (via issuance of shares) it would make sense to forward sell this processed material at a fixed price, to protect against any adverse movement in copper prices.

Overall: whilst strategy seems to change and some short term impact on GPM and some dilution for shareholders, if keeping the processing plants productivity high and close to maximum, this should produce increased bottom line NP. So, whilst without Leon revealing full financial impact, I believe the overall financial result, at the end of the year should be beneficial, the $100k question, being by how much!

I remain bullish for the company SP, especially at this low price. However, do your own calculations re the numbers but always remember "cash is king" !

I agree Berlioz.

Re communication, there are a lot of podcasts that do not ask the searching questions, that many shareholders would want to be asked. I think this is partly to do with some of the podcasters, having stakes in the companies they interview CEOs from, and rather than challenging questions, they are hyping up the company, with statements like "if the resource is going to be increased to X and at £/$ per tonne, this would give the company a value of X". All hypothetical questions.

Whilst the CEOs have to be careful what they say, which should be in a RNS, they could be more specific with certain information and timelines. A good interviewer using the "why, what, when and what if" questions.

I know all CEOs are different and have different styles but as you have said, regular communication would be more welcome from POW investors. I would like a more regular update covering all the different investments, with comment pro rata, to POW investment in that venture.

Hi sol001. I can understand where you are coming from.

My view for what worth is that I would rather have "a lot of irons in the fire", than "all my eggs in one basket".

I think it would be useful for the CEO to pass a little more comment on some of the "less than successful" stakes they have I.E. RRR and FCM, although even the latter may yet surprise.

Regarding the JV with UCAM, I am less concerned with lack of news, as winter in Canada can be harsh and we were advised that they would not be cracking on till early 2025. Re Saudia Arabia, having been involved in companies involved in this region, things can at times take a little longer at times.

Patience is required and this is not an issue for long term holders. Neither POW or GMET are speculators stocks on AIM, as the minimal number of posts and daily share transactions confirm. Some LTHs or the odd speculator may have lost patience, sold out to move elsewhere but the majority of shareholders are in for the long haul.

I can not see POW running out of cash.

Sean will bring us up to date, in due course.

There are a lot worse companies to be invested in. I think POW is very similar to an EFT, in that it's SP is way below its NAV and therefore buyers now, have the opportunity for the gap between SP and NAV to narrow and the JV with UCAM, the Saudi Arabia venture or other investments, are the icing on the cake.

As long as investors not looking for income from POW, hopefully the capital growth will eventually happen. But as with all AIM shares, important for every investor to do their own research.

Hi sol001. I can understand where you are coming from.

My view for what worth is that I would rather have "a lot of irons in the fire", than "all my eggs in one basket".

I think it would be useful for the CEO to pass a little more comment on some of the "less than successful" stakes they have I.E. RRR and FCM, although even the latter may yet surprise.

Regarding the JV with UCAM, I am less concerned with lack of news, as winter in Canada can be harsh and we were advised that they would not be cracking on till early 2025. Re Saudia Arabia, having been involved in companies involved in this region, things can at times take a little longer at times.

Patience is required and this is not an issue for long term holders. Neither POW or GMET are speculators stocks on AIM, as the minimal number of posts and daily share transactions confirm. Some LTHs or the odd speculator may have lost patience, sold out to move elsewhere but the majority of shareholders are in for the long haul.

I can not see POW running out of cash.

Sean will bring us up to date, in due course.

There are a lot worse companies to be invested in. I think POW is very similar to an EFT, in that it's SP is way below its NAV and therefore buyers now, have the opportunity for the gap between SP and NAV to narrow and the JV with UCAM, the Saudi Arabia venture or other investments, are the icing on the cake.

As long as investors not looking for income from POW, hopefully the capital growth will eventually happen. But as with all AIM s

Hi sol001. I can understand where you are coming from.

My view for what worth is that I would rather have "a lot of irons in the fire", than "all my eggs in one basket".

I think it would be useful for the CEO to pass a little more comment on some of the "less than successful" stakes they have I.E. RRR and FCM, although even the latter may yet surprise.

Regarding the JV with UCAM, I am less concerned with lack of news, as winter in Canada can be harsh and we were advised that they would not be cracking on till early 2025. Re Saudia Arabia, having been involved in companies involved in this region, things can at times take a little longer at times.

Patience is required and this is not an issue for long term holders. Neither POW or G

I posted this on GMET yesterday and given POWs large shareholding in POW, thought beneficial to all POW shareholders. This is not a "pump", just a numbers man doing calculations from public domain information. Given how difficult AIM companies, generally find it to raise funds without major dilution, I find GMETs position one that many AIM companies would be envious of. I am a shareholder in both GMET and POW:

"Thought I would try and reconcile exactly where we are now, compared to as at 1/12/24 (figures extracted from the last Corporate Presentation issued by the company-on it's website).

As at 1/12/24: shares in issue 119.292m.

Cash raised from warrants exercised since that date and the £750k from new shares issued (inst inv.) totals £1.561m.

Remaining warrants o/s total 18.9m. If all these remaining warrants exercised, then additional cash raised would be another £4.196m.

The total shares in issue if all o/s warrants issued would then be 144.53m. As the outstanding warrants vary in price (17p, 25p, 37.5p and 40p) I personally am happy with what the resultant shares issued would be, especially as this would further improve the company cash position, even before any potential grant.

Whilst the above may change if the company proceeds with the Temp. acquisition at the end of its 90 day DD period (not long now) this transaction, from what Oliver has indicated, is a perfect add-on to the GMET portfolio.

All the above are my calculations (and could be wrong) and can be checked by other posters, using company info and RNS's. Of course warrant holders may not choose to exercise all the warrants but there are not many "not in the money" at present.

There is an old saying "cash is king" and Oliver is making sure the company is liquid and has the cash it needs and he is managing the dilution, which I for one, as a shareholder, am more than happy with, taking everything into account.

I believe that 2025 will be transformational for GMET and indeed for it's major shareholder POW.

Thought I would try and reconcile exactly where we are now, compared to as at 1/12/24 (figures extracted from the last Corporate Presentation issued by the company-on it's website).

As at 1/12/24: shares in issue 119.292m.

Cash raised from warrants exercised since that date and the £750k from new shares issued (inst inv.) totals £1.561m.

Remaining warrants o/s total 18.9m. If all these remaining warrants exercised, then additional cash raised would be another £4.196m.

The total shares in issue if all o/s warrants issued would then be 144.53m. As the outstanding warrants vary in price (17p, 25p, 37.5p and 40p) I personally am happy with what the resultant shares issued would be, especially as this would further improve the company cash position, even before any potential grant.

Whilst the above may change if the company proceeds with the Temp. acquisition at the end of its 90 day DD period (not long now) this transaction, from what Oliver has indicated, is a perfect add-on to the GMET portfolio.

All the above are my calculations (and could be wrong) and can be checked by other posters, using company info and RNS's. Of course warrant holders may not choose to exercise all the warrants but there are not many "not in the money" at present.

There is an old saying "cash is king" and Oliver is making sure the company is liquid and has the cash it needs and he is managing the dilution, which I for one, as a shareholder, am more than happy with, taking everything into account.

I believe that 2025 will be transformational for GMET and indeed for it's major shareholder POW.