The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
My point was not so much the content of the filing, but why bother if it's about to be struck off?
How the worm has turned Harchris, you're beginning to sound like me now!
Interesting, an allotment of shares dating back to last September has just been filed at Companies House today, something brewing?
There's a long way to go yet to secure the long term future... could go either way.
"There is no guarantee that an equity financing will be achievable and, in the absence of any additional financing being available, the Board would have to take steps to preserve and maximise value for its creditors and should the Company fail to achieve a solution in the short term, the Board would have no option but to place the Company into administration. In this eventuality, it is not known how much, if any, value would be returned to shareholders."
New construction starts down by 30% in China
https://www.bbc.co.uk/news/business-68603195
Dbh1956dbh, you are correct in saying that I am negative on this share and with good reason, it's performance has been shocking. just look at the share price graph, does that not tell you something? Sadly most of you ignored my warnings based on actual financial statements and went along with the happy clappy brigade who kept telling this board that everything was going to be great.
And yes, I am no longer a shareholder in this sorry state of affairs, I moved over to EEE at 3p, currently well up thank you. A mining company that hasn't actually dug anything out of the ground yet and is still worth more than this rubbish which haemorrhages cash on a consistent basis. I'm guessing that everyone is only hanging around here in the hope (not expectation) that a miracle will happen sometime soon with V pricing.
Paludina, I suggest you trawl back through my posts from last year. I posted calculations showing that a loss was being made on everything sold. I was poo pooed at the time but subsequent financials have proved me to be correct. Added to this the continuation of the fall in V prices, how on earth do you think they are making a profit. Hence the desperate need for cash! If they were making a profit they wouldn't be borrowing to pay off essential creditors would they. Or selling off assets.
Back to you, please show us your calculations whereby there are making a profit on shipments to the US.....
Fundamental law of business, income does not necessarily equate to profit, especially with V pricing at current levels.
But are they actually making any profit on those shipments? I suspect not...
This is SYME, what goes up must come down
With V pricing as it is, the company continues to lose money hand over fist, the only glimmer of hope is a rapid increase in V prices and this doesn't look like it's going to happen any time soon. Don't believe anyone that tells you otherwise, it's not looking good.
So you are suggesting more dilution?
$12.5m isn't going to last long at the current burn rate once critical suppliers have been paid, what happens next? Where's the money coming from to keep the lights on?
Henchking, I suggest you take a look at the title of the RNS dated 3rd Jan - "White-Label IM agreement: funding secured with Banco BPM S.p.A to execute an initial IM transaction"
Emailing bank Italia won't get you very far!
Henchking, fyi I am a long term investor here, bought before all the hype, just asking a genuine question as the TAG group does seem to be having cash flow issues, just looking to see if anyone has further information that would reassure people.
Has anyone any idea on how long they'll be able to keep the lights on if TAG don't come up with the cash?
Yep, I've got one of those too!
Harchris
My views on production costs back in June 23 were all based on facts pulled from the operational updates and financial statements, I recall well at the time that you dismissed the costs I was quoting, telling me they were in fact far lower. Turns out facts speak louder than gut feelings.
Harchris
I did try to warn you back in June 23.....
TrevorBrooking
Posted in: BMN
Posts: 983
Price: 2.80
No Opinion
RE: Loving Life & Mokopane27 Jun 2023 08:06
Coffeecups
My thoughts for the future:
I believe that production costs are still in excess of selling price (remember that prices have fallen by approx 14% over the last 6 months). Whilst they gained a cash benefit of around $8m due to selling down inventory, this will be eaten up in the current financial year by excess production costs. Where is the cash coming from after then? Another cash raise/dilution? Or sold to the Chinese on the cheap? Personally I think a sale is unlikely, there are too many PIs holding shares that will be unwilling to crystallise losses (after all they tell you only lose money when you sell).
Clearly you can only carry on loss-making for so long, although they do seem to have made a bit of an art of it over the last few years. This will only cease on significant price increases in vanadium. Despite all the claims that demand is/will exceeding supply in the market place, this is not feeding through to pricing. Is this due to a slower uptake of VFRB than anticipated? My take on it is that rise will come at some point, but this may be several years away and be too late for Bushveld. To my mind this is the biggest single factor in the future of Bushveld, and for now the pricing is going the wrong way.
Electrolyte - I see that as a white elephant at present, you would have thought that given it is about to go into live production that some sort of selling contracts would have been announced, we have heard nothing to date.
Mokopane; this has been mothballed having been bought at a cost of $68m. Part of this cost was provided against last year, I suspect the auditors will insist on further provisions going forwards. Although this won't have a cash impact, it will significantly weaken the balance sheet and therefore the ability to raise any required funding.
Just for transparency, I did buy back in a small amount last week hoping for a dead cat bounce. I suspect there may be a rise to 4 or 5p over the next few weeks with the excitement of a new CEO before reality sets in and it drifts down again, a small trading opportunity. (By the way, if operating progress has been so good, why did FM step down? Seems strange!)
Anyway, I'll leave it there. For all those with filter blinkers on (Pdub, Harchris etc), they won't see it anyway and quite frankly I don't care. They only see what they want to see and what makes them feel good. That policy has already cost them a lot of money, I hope it doesn't cost them all of it.
Wobble, FYI I've been invested in CPX for about 6 years!