Member Info for TrekMadone

Hi Latorre,

I have always held a marker here for when I thought it was right to buy back having sold most in the mid 20’s before.

Gave me the heebie-jeebies with 6 figures running into a drill so rightly derisked a few as they were planning to suck it out with a flipping straw!

This time they are following a proven paradigm so I am much more comfortable.

I waited for the raise, I posted it all in advance on Tecan before buying back in. Didn’t see the point of getting into a panto debate here ‘oh no they won’t, oh yes they will’ lol!

Thought it may go below placing price. It may still do that but I don’t think so. Things seldom do what you expect so finished buying today and got a cash covering position that I will trade with later.

Good luck all,

Usual caveats

Trek

There is amazing liquidity here atm can buy sell 500k np.

6.128 and 6.2175 are actually buys.

Majority of shares coming on market have probably been dealt with already given volumes here

51m mcap and over 8m in cash is a far more representative sp than when it was 80m mcap and clearly in need of cash. Hence as operations progress and the potential upside comes into view so the sp should appreciate which makes buying at this level very compelling.

Good luck whatever your position.

Usual caveats

Trek

If your not convinced of the story here or need cash then it’s best to reduce. That way you can relax with a smaller position. There is always another home to hedge your bets.

If you have a longer term view then this is the start of potentially great things but you have to get over a sp of 57-70p and look at what you think it will be at the end of next year. In which case it’s probably good to just read the RNS’s and company PR and not pay too much attention to the short term ‘influencing’ here.

Easier said than done though as the company certainly ain’t helping whatever one’s position! Hopefully that is changing and we will have our ebullient ceo back in full flow soon just like cascadura!

For sure although he looks a bit rattled atm he is v good at telling everyone the good news!!

Usual caveats

Trek

Couldn’t get a quote to sell a bean yesterday pm. Looked this morning and they will take up to 100k shares in one hit for 19.78p.

NOw price up 0.5p! There’s a surprise.

I am a buyer but only at 20p now as have enough of these!

Usual caveats

Trek

Yep good spot nom I read your post there, but still impressive that cash generation.

I am amazed no noticeable attrition so good dd on their loan book esp with the glass manufacturer as they must use loads of energy!

Usual caveats

Trek

I held at previous results. I was hoping 10p would be kept and didn’t expect cash pile to go down so much.

I am not surprised at rev with copper price. If that changes which is likely then it will transform the Balkan sheet here and elsewhere.

Also been following ECOR as well but would’ve bought here over them as this is debt free. But imo they simply cannot give up 10m of cash in 6 months! That puts pressure on the balance sheet if they acquire as it’s less cash available.

That’s just my view and it may be wrong but I won’t be buying back for this divi.

Either way good luck guys.

Usual caveats

Trek

Caml results out …… I was a fan …. Ouch! Glad I didn’t buy back in!

Dukes results out …. Excellent! Wish I did buy back in!

Went 100% in on DEC and PHNX for my income. DEC worm is turning imo and PHNX well we will see next week if it was a smart move!

Will be adding more he1 today with a view to selling down. Imo it’s a gift at the current sp for two drills albeit I see them raising again after the first drill!

Usual caveats

Trek

I was going to buy back in yesterday glad I didn’t!

I get the Rev down due to price but the divi cut ouch and the 10m drop from the cash position!

And no I wont be looking to get in cheaper. They simply can’t sustain running off cash like that!

Usual caveats

Trek

I can’t see that 85p was available at 12:09 yesterday. Must be a time stamp delay somewhere.

Still if they can buy 600 shares and the sp goes up a penny thereafter I’ll take that!

Usual caveats

Trek

I just added 75k he1 at bell sent it blue as was nt for ages!

Trek

It was a crp interview not because of Ryan but the interviewer imo didn’t ask enough questions!

Still at least Ryan said once they had decided on which process they could move to production quickly.

Read into that or not whatever but seems odd to say quickly and not caveat it with finance. But then I’ve heard it all before!

Keeping these tucked away!

Usual caveats

Trek

Thanks Tro,

I have reduced some holdings and was thinking about catching a bottom there. Will wait and see and of course average in and average out if it’s on!

Doubled up at HE1 will get more later if no news. Hoping for a last dump below 6 to clear out seller.

Gonna just hold some for the drill and trade rest though!

Usual caveats

Trek

Tro do you have TGR on the bottom at 20p or lower?

I got it at a dip below before a bounce???

Tia

Trek

Thanks Max,

Mike did say he would post a reply on Twitter so it was there for all to see. I was expecting you to have been on the ball by now though! 😉

I am not a fan of Elon’s behaviour’s so am making a lone stand against him Facebook and flipping TiKTok! But every now and then you get caught out! I work with youth and see the pain social media causes but that’s another story.

So yes Zero G as I thought is a different bit of MR kit. The one they are using, DSC employs T2* which enables use of the low flip angle. Both require less Gd. DSC uses 50% less and Zero G will be, well zero, when it’s ready and been through FDA.

Like I say though I have no idea of the monetary value of either. According to the market it’s sod all! So I can’t be accused of ramping it even if I think it’s being overlooked but imo so are all our prospects!

I have always maintained that we really don’t know what the details of the GE deal are albeit I guess we have had some cash but we won’t know until the company tell us or the next set of results.

All flipping smoke and mirrors here with a muted response from the company to sell itself. Personally I think that’s all part of the plan and eventually the numbers and solid news will do all the talking.

I prefer that though to over promise and under deliver as long as we do get some snippets! I think this RNS was just a snippet.

Back to MRI 101!

Usual caveats

Trek

Don’t know if there’s anything on Twitter as well (I refuse to use!). But I think this is bigger news than the market understands as it’s only on the IB platform that you can perform the imaging using the low flip angle setting without the need for a preload. That’s the point of the quality of the DSC technology in IB Neuro and it’s within the FDA clearance.

So as a technician and as a customer it’s pretty obvious which platform you would use given a choice. IB neuro which eliminates preload and therefore leakage, reduces costs etc but still give’s enhanced graphics.

Whether that is a financial games changer of any sort o have no idea but for sure it’s a selling point for GEHC and gives them an edge.

Usual caveats

Trek

Hi Datron,

The full statement from the quarterlies reported in August ….“ · Amended our Trinidad based loan agreement in May 2023, allowing for an additional $7 million revolving loan component that was fully drawn in June 2023 to provide liquidity while we complete construction of the Cascadura facility.”

So yes they have drawn the RCF and it’s logical to assume that has been spent but we don’t know if it’s all been spent together with the $10m cash they had. That was after the $5m capex.

Spending all that balance 17m while revs covers the admin seems a heck of a lot.

I guess it comes down to if they now have enough liquidity to see them through to revenues and if they want to accelerate operations or not.

I don’t think PB will raise I think he will tot up some income or at worse grab another RCF. I seem to recall him mentioning the enviable self financing in one of the interviews or words like that. But we’ve all been here before when ‘due to a change in strategy to ramp up this opportunity’ or whatever!

Its obvious we are at a point where we (the market) are now guessing as we await Casca to hit the number. If it does SP pressure off, if it needs more time then obviously cash will burn without another RCF. It doesn’t necessarily mean a placing though, they could grab a few million with a 2 month first payment holiday to allow Casca to top us up!

There are other options but it’s all best guesses for now!

We will find out soon enough!

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Trek

Poland don’t really have a defensive geography. They have been over run quickly throughout history.

They really need firepower and minefields to deter an attack.

They are doing deals whereby if they buy weapons the parts have to be produced/assembled in Poland so they can protect/create jobs off the back of it.

Meanwhile in the UK we have our shores to protect us. Not sure how we’d hold up though but atm we can’t even protect ourselves from within!

We are so vulnerable to spying and cyber attacks!

As I posted before the government should change legislation so that in the event of data theft or hacking the companies themselves should be liable. Atm it’s the individual’s tough luck!

That has gotta change as there is little incentive to take cyber attacks seriously even though there is good protection out there. And once ‘gang’s’ use AI and even more complex computers it will be an open door for them!

ATM Ukraine is absorbing the majority of the cyber heat from Russia. It won’t be long before Russia and China turn destructive technologies onto the wests beyond the current DNA’s which are very basic overloads!

We really should be beefing up our defences with legislation, AI and a few more folk than the back office of GCHQ. Even the police should be expanding its capabilities here. Unfortunately lots of this stuff needs investment and it ain’t top of a list of general election giveaways!

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Trek

They had $10m cash and $23m debt. That’s after $5.3m capex on Cascadura and 2 Royston tests. Income is $2.8m netback.

Operating expenses after capex costs are around 3m so nets out as zero atm.

So have to guess ops costs of Casca and Royston testing for July/aug/sep. I don’t think it will be anywhere near another $5m. But let’s assume it is.

That leaves them with 5m cash and a 7m RCF so 12m in liquidity.

I don’t see 2 drills costing 12m whilst they await for cascadura revenues. 12m being super pessimistic! They probably have more like 14m liquidity.

Whilst I never say never if they did raise its because PB wants to fund production wells with equity rather than debt. In which case what’s the point of the RCF.

I would say we don’t need the cash but he could chose that avenue if he wants albeit unlikely.

I think they will just get some cash in from Cascadura and drill coho when Casca is flowing at max.

Get to a point where two wells at coho are ready to come on line then start other Casca wells.

The capital markets dah is to present a 5 year plan. I think that coho will be the first step of that then Casca production wells and then expo depending on rig availability and ‘wall of cash’.

But who knows at least we aren’t in a situation of needing funding for another wildcat drill on the back of two dusters! Even if it does seem to feel that way atm! But the reality is far from that!

Usual caveats

Trek

Topped up at he1. If it was going below 6 it would have done so by now.

There’s an orderly clearance of placing stock atm.

There may of course be a dump at the end to get the last few out as the average will be in profit.

TP 9.5p for me let some ride. That’ll do!

Usual caveats

Trek

Dowgate note out 8 pages on interims…

The headline is…

Diversified reported strong interim results, with production that was marginally below our estimate more than outweighed by tight cost control to deliver EBITDA ahead of our forecast; we broadly retain our FY23 estimates.

Rest is behind paywall. I don’t have access. But I think we already know what it says from previous notes.

Trek