Member Info for TrevorBrooking

Chosenone - "I am assuming imminent revs from £500mil of inventory already signed off waiting to be monetised will help….substantial due diligence fees and 2+ % fees on value of inventory monetised."

If you know anything about Syme you'll know that's a very foolish assumption to make!

Apologies Wobble, I wasn't aware you were an expert on supercapacitors so please do share with us your sales ideas that you have messaged the company with. I'm sure Lars will be impressed with your contributions and who knows, you could end up being offered a place on the board.

Been here since before all the hype, I was in at 0.07 or so, largely sold out but this has been disappointing on so many fronts.

Question is, would it cost more Syme shares to buy a loaf of bread than the 1923 Reichsmark did?

Don't be expecting a dividend, anytime soon, as at end of FY22 retained losses of £39M (since increased) , those losses would have to be cleared first before you can even start thinking about dividends.

Mucker: "Good luck all. Off to new investment pastures." I hope for your sake you improve your share price forecasting skills, not done so well on this one!

Memory of a goldfish Faramog:

"Ladybird book of Accounting 101 for TB anyone ?"

Don't try to backtrack when you've screwed up!

Faramog, I'll explain it in simple terms for you in the hope you might understand your stupidity. As at the end of the last financial year, they had a pile of stock they hadn't sold. This was included in the balance sheet as at asset with a carrying value, lets say £10m for the purpose of this example. When the stock was sold in the new year, eg for £11M, a profit of £1m (£11m sales proceeds lest stock cost of £10M) was realised., not the full proceeds of £11m

Hopefully this is easy enough for even you to understand, but somehow I doubt it.

Faramog, your lack of basic accounting understanding is quite staggering, I suggest you steer well clear from it. Ever heard of the matching principle, the first thing a trainee accountant is taught?

And as for "private correspondence" - of course you're not going to post it because it never existed!

Faramog, if that was the case then the accounts wouldn't have been signed off by the auditors, this is basic bookkeeping. I suggest you post the exact wording they gave you in their email as you have quite clearly misunderstood it!

Faramog - that stock wasn't pure bottom line in terms of P&L, it would have been carried in the balance sheet (at lower of cost or NRV) - given that the selling price probably wasn't much above cost of production, very little profit would have been recognised on the sale. Cash position is a different story, that would have benefited from the full amount of proceeds.

Mucker12 - "Not trolling. I'll keep repeating myself." - No need to keep repeating yourself, everyone's heard you and ignored you, move on. If you're correct (highly unlikely) then by all means come back and tell everyone, if not just don't bother coming back.

Clarkgriswold, the sad fact is that however much they strengthen the cash position, unless V pricing recovers it's all going to disappear over the next year or so. Still very much a gamble.

Is that the same person that said he would sell every share he held the day (mis)Fortune was no longer in charge? Hot on geography but not so good on investing?

Used to love Hustle back in the day, come to think of it, Fortune is a dead ringer for Adrian Lester!

From memory Bushveld were bidding on this contract several years ago, we were told it was in the bag!

Harchris, with net current assets of $91m I think Largo are far better placed to ride out the storm than Bushveld, wouldn't you agree?

Just a couple of my posts Harchris - I post based on known facts from RNSs and financial statements, as an accountant I understand them unlike you! No substance to my posts? Think again sunshine!

TrevorBrooking

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RE: Please back on topic25 Jun 2023 19:16

Q2 figures will be interesting, given that vanadium prices have been falling

TrevorBrooking

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RE: End of year cash figure21 Jun 2023 13:28

Hi Bushy, you are correct, it's the way it's laid out in the overview that muddles the issue: if I do a deeper analysis of the costs for last year (excluding impairment costs) I get:

Cost of sales 108304

Selling and distribution costs 9270

Other mine operating costs 2723

Idle plant costs 6725

Administration expenses 20838

Finance costs 14140

Total 162000

Granted, some of the idle mine costs may disappear but I have excluded the loss on shared ventures to allow for this. On this basis the cost per unit is $42.2 per unit. I believe the $43.7, whilst it included the impairment cost, did not include any finance costs, but please correct me if wrong. Still looks like a breakeven scenario on current pricing given the impact of inflationary cost increases.

TrevorBrooking

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RE: End of year cash figure21 Jun 2023 12:00

Harchris, you state that breakeven point should be approx $35.5 yet the accounts state the following "The Group cost per unit sold for the year (including sustaining capital expenditure) was US$43.7/kgV. "

I appreciate these are 2022 costs but if anything we are expecting an increase in costs this year. Could you rationalise your breakeven point please as it doesn't look correct to me, thanks.

Harchris, as you mention, the falling V price has been a major factor during this year. I did keep pointing it out to the board but it seems you took no notice of this and continued to believe the business was improving! Maybe you shouldn't just disregard "trolls" information in future, especially when based on known facts. Hopefully lesson learnt.

Profitability is completely dependent on V prices, with current pricing in the doldrums it's not surprising forecasts have been downgraded.

Pdub, thought you'd sold up after Fortune left?