RE: David Galan Presentation5 May 2018 12:17
I agree with all the things you have said there BMR, Galan should’ve been able do that without notes. Anyway the future of Zinc could be very rosy....But...My worry is that more acquisitions will mean further dilution which will further erode shareholder value. If it can be done without huge dilution great. The last one, tern tv nearly doubled the number of shares in issue. A poor deal for shareholders in my opinion. Also I question the notion that US companies would (in therory) acquire us for multiples of revenue whereas uk companies would base it on about 10x profit. If this is the case, it means we have to be aiming towards a US company acquiring us, it’s the only way most of us investors (including institutions; Herald, Artemis, etc) are ever going to see a decent return on our investment. Unless profit is forecast to jump significantly over the next 18 months to about £5million, which it might do, but that’s worthless if it’s done by diluting the *******s out of us and issuing tens of millions more shares. I’m happy to let this run it’s course and I’m optimistic but remain cautious. Also I think if we didn’t have this incessant selling going on we would be a lot more attractive an investment. Someone out there is keeping us down.