Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Surprise Q3 results coming out early but a nice surprise. Excellent results. Strong performance, solid cash position and the Eurobond looks to be on it's way to being resolved.
Remember to subscribe and watch/listen to investors results call today. Always really informative in my opinion.
1. Return to profitability driven by continued positive momentum in operational performance.
2. Strong collections effectiveness improved to 95% of pre-Covid expectations in Q3.
3. Prudent relaxation of credit settings resulted in a 55% increase in credit issued in Q3 compared to Q2.
4. Group annualised impairment as a percentage of revenue 38.1% (HY 2020:37.5%); improved underlying impairment performance
5. Strong capital and short-term liquidity position - £348 million of cash and headroom on current debt facilities.
6. Remain committed to the health and safety of our colleagues and customers, and well-developed contingency plans for Covid-19 second wave in place.
7. 2021 Eurobond exchange offer launched today alongside a consent solicitation process for our SEK and sterling
Arch- well put. In addition to the financing update, think shareholders keen to see collection ratios still good and understand levels being loaned. If this is positive would expect to see a significant rise above 100p as even at those levels would be very undervalued.
Re dropping to 30s. I don't think so. If it does I'll buy the company lol!
Could only see dropping to mid 50s which it nearly did today but rebounded.
Agree a very good webcast explaining the results.
Confidence in strong return to profitability next year.
H1 taken hit covid19 with 36m factored in balance sheet as a loss expected to be fully repaid over next 12 months and coming through on the balance sheet over these periods.
Lending to be significantly increased over coming months.
Very confident of bond apr 2021 refinancing and statement regarding risk of going concern had to be put in legally.
Talks to date going well and supportive. This will be a big step forward once that happens.
Dividends will be reinstatated but uncertainty exactly when. My guess H2 2021.
Strong balance sheet.
Collections at 96% and if take hungry opt out moratorium in place would be closer to 100%.
All in all a solid performance in exceptional times. Will be interesting to see any brokers notes and revised forecasts.
Lastly, will review monthly updates but expect to issue a Sep update.
Yes, not long to wait now. Half year results and August trading update out on next Tue 8th Sep. Investors conference call also that morning. Hopefully lots of updates and progressive news to carry the SP north back to pre covid levels.
Yes, they have been for ages.
Once they are out this will explode.
Still lots buying stthese prices to mop up shares.
Be interesting to see results tomorrow and forward forecast. Seems significant doom and gloom priced in.
Any better situation confirmed think will see a sharp SP increase, but still potential to jump onboard but may miss initial 10 to 20% if good. Have a position but may add after tomorrow depending on what is said. Guess many watching from the sidelines.
Also interesting that short positions that were above 12% in 2019 have come down to less than 1% (0.79%) recently. Was one of the most heavily shorted shares in 2019.
Source:
https://shorttracker.co.uk/company/GB00BDGTXM47/
Institutions such as Morgan Stanley accumulating recently. They also have a target price of 150p.
As a comparison of similar companies ipf listed on lse
We have
Amigo (AMGO)
Morse Club (MCL)
Non Standard Finance (NSF)
Provident (PFG)
Out of these 4 both AMGO and NSF were loss making last year with 27m and 76m loses on revenues of 294m and 180m respectively.
MCL and PFG were both profitable last year with 16m and 84m profits on revenues of 117m and 998m respectively.
IPF as U would expect you all to know had 71.8m profits on 889m revenue .
However, P/E ratio for IPF is 2.2 whereas as MCL and PFG are 5.5 and 5.4 respectively.
Further illustrating how undervalued IPF is against peers.
Thanks for sharing the info. Please let us know if you get confirmation of this.
Nice steady rises again moving to retest last highs of 68p.
Especially on a general poor day for the markets.
Stuart Sinclair a non exec director and chairman
He just purchased 87,000 shares at 57p
Shows confidence !!!
Up we go ...
One 43p broken lift off. Free air to next 55p resistance level now seller out the way. Big 10m sell went through which must have been worked through by MMs.
From a TA perspective (ie charting) a double bottom seems to have formed. Could see an explosive upwards breakout coming.
Really strong fundamentals as well IMHO as already summarised. Just added more to my pension holding this morning.
Be interesting to see whether 32 to 33p range holds forming a double bottom. Close now!
You take your chance and pay your money.
As you say anything can happen.
However, when we know the answer to that this will be 100p plus imho as this is already factored into price.
I dont think the leaders of the world economies will allow that too happen. There is a strong downturn 25% trade wise in Q2 due to covid19 but we will see in coming 2 quarters as countries open up exactly what happens. I predict the year will end 5 to 10% down on jan 2020 levels. That would be a good result.
Buy when everybodies selling and sell when everybodies buying. Thats the way to make money and be patient. I am in for the long term as part of my pension holding. At these prices great sp value growth play plus very high dividend thrown in as income when that is resumed.
Good luck all.
Also as said
1) pe rating of 1 just crazy
2) imagine after all this blows over 2021 onwards and dividend reinstated. At previous levels which have been in place for many years this equates to a 33% dividend. I know not being paid currently like many companies.
3) I see SP increasing to first 100p levels and then back to 150-160p range which still was cheap.
Hi all,
My name is Tom Waller (TTNY2013), email tom.waller.ttny@hotmail.com; and I have added my details in table below as well. Many thanks for those of you who have provided your details.
I have summarised in the table below. If I have made any mistakes (or any updates) please let me know.
Please spread the word. The more of us the better! Direct them to the LSE board as difficult to manage from multiple boards.
For those yet to do so (highlighted by ? rather than Yes) please can you also complete a SEC complaint.
Name Contact Email ATC Shares Purchase Cost Avg SP per share SEC Complaint Made? LSE Alias
Tom Waller tom.waller.ttny@hotmail.com 14,689,626 £27,512 £0.0019 Yes TTNY2013
Danie Erasmus daniee@nashuaisp.co.za 3,300,000 £5,000 £0.0015 Yes Danie
Lee Peterson Leepeterson1973@gmail.com 1,500,000 £2,000 £0.0013 ? ElPee
Daniel Bird Danielwbird@hotmail.co.uk 2,904,770 £17,537 £0.0060 Yes Dbird
Alun Goodall alun.goodall@outlook.com 70,000 £214 £0.0031 ? Leothecat
Brian Clarke soleburngarden@aol.com 17,000,000 £46,423 £0.0027 ? DOEBOY
Reg Roberts reg@target-jobs.com 39,773,727 £66,793 £0.0017 ? jackaroo
David Wilson drdaveuk@gmail.com 630,000 £1,000 £0.0016 hdt20979
TOTAL 79,868,123 £166,479
I am outside of this group having discussions with other larger shareholders and will keep everybody informed via updates what action we take.
szynd - you mentioned can you get in contact rather this other shareholder group. Be good to unite and act as one.
Legal action may be an option. There are other bigger shareholders who could join us smaller private shareholders in such action. Ideally using no win no fee lawyer. I'll keep you informed. However, first need
A) your name and contact details I.e. email
B) no of shares held and approx purchase cost
Could be an idea. However what we need is YOU to all act as one as well and file SEC complaint like I and others have. The more they see the more they will take note and investigate.
6) A heads of agreement, signed by White Oak, was in place for Atlantic Carbon I understand to purchase the Jeddo coal businesses from the Pagnotti Group fully supported by White Oak only months ago. This was I believe to avoid having to pay royalties anymore, increase reserves and scale up streamlining business delivering greater efficiencies, lowering operational costs and thus directly improving the bottom line (i.e. profitability). Currently, all Atlantic Carbon licenses are Jeddo assets which are the biggest coal mining group in the area. This would have also included a massive wash plant.
7) Will be very interested to see who purchases Atlantic Carbon Inc, the 100% owned subsidiary of Atlantic Carbon Group Plc, and how that company performs over coming years once Atlantic Carbon Group Plc is disbanded with all its shareholders?
8) Steve Best (Director) and Adam Wilson (CEO) were both terminated on appointment of new CEO Seth Schwartz a week after he became CEO end of April and then things have moved quickly all in a negative manner culminating in UK company being placed into administration whilst Atlantic Carbon Inc (US business) is still being run as solvent business. I believe everything is in place for it to be a very profitable one in next few years.
9) Shareholders at two AGMs in space of a month of each other deliberately held in US to prevent UK shareholders from attending voted I believe 94% and 95% to not support Seth in his CEO directorship as he seemed to colluding with the bank (or working in their interests and not the shareholders). Once, this occurred an announcement was made on 22 July to cancel the 2nd delayed AGM and put Atlantic Carbon Uk Ltd into administration.
10) White Oak as primary lender seemed to have acted way beyond their power as primary lender, and the CEO has not since his appointment ever been free to speak with shareholders or have their best interests in mind. White Oak took control and became themselves the board of directors, all decisions appear to have been made by the bank since March 2019.
I would really appreciate you investigating this matter.