Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
That advfn bb needs closing down. There cannot be more than three or four people who post on it and all use multiple usernames. Its not an investing bb, just a forum for idiots/ trolls to try and outdo each other with false or misleading claims and downright fake news. Some of those responsible also double down on Twitter ( different names ā) and no doubt some on here resurrecting themselves but having to moderate their posts.
This is from November. Someone on the Mustang board has been chasing their CEO, after quite a bit at a time they have a response from him ehich they posted on Friday. They are hoping to have the prospectus out as soon as possible.
Hardly anyone is buying and that has not really changed for a long time, as has been mentioned before the lack of news on various fronts together with the Orion debt uncertainty (what the debt consolidation will look like) all contribute.
I suspect a lot of investors try and make a logical decision when buying and selling to make a profit. Yes it is a simplistic decision, is it worth more now than what I paid?
Yes the sp is it a five-year low but is that the bottom? The coming weeks and months will answer that, but the number of times I have heard this is at the bottom (from 40p downwards) over the last three years is enormous. The one thing I know is that the release of operational news on a quarterly basis is not enough to sustain the sp, especially when that news can be nuanced.
Some things are within the companyās control, others are not. The company is in a challenging environment both politically and business wise, I think what happens this year will define its longer term outlook.
I certainly do not doubt that a lot of people use charts to make their decisions on whether to buy or sell their shares predominantly in the AIM market. I also think that the proportion of people using this method has increased over the years. In some cases they will not even know what a company does or what its future aspirations are.
With the introduction of crypto/bitcoin into the market investors seem to rely heavily on charting tools to make their decisions. This is in an area where there is no viable product, at least with AIM companies there is something there. I think there is some crossover into the AIM market from this. The reliance on charting and also spreadbetting have probably had a detrimental effect on shares in AIM generally. Itās where out and out gambling starts to morph into investing, and the two donāt sit comfortably together.
The mcap is low due to the sp being low. The sp is low because we donāt have anything like enough buyers , although there are plenty of sellers. Yes any profits are likely to be reinvested but we are some way from getting the P&L figures for this FY. The Orion issue needās a resolution , whether its Orion agreeing to a restructure, or a third party arrangement to pay off Orion and taking it from there. Thats going to be quite tricky, it will be resolved, but again we are sometime away from that.
The main markets are having a turbulent time. I note that even in the last week some major investment houses have confirmed that the fund managers and retail investors have been diversing parts of their portfolios into cash. This pattern had started around the pandemic but with the unpredictability of post-pandemic recession and the backdrop of the war in Ukraine , investors are looking at cash as a safe haven rather than the more traditional areas such as Gold.
The AIM market suffers the fallout from this to a greater extent. A lot of investment funds avoid it for various reasons. BMN isnāt helped by a rather complex structure, making profit forecasting difficult. The exact margins are not known until everything is accounted for , so estimating is always going to be guesstimates based on what someone thinks the company is selling its stock for and what it is costing them to produce it.
This would not normally be something investors have to do but the current situation with the Orion debt and deadline approaching to settle it has certainly put some investors off in a difficult market. The debt situation will be sorted, it may not be pretty and will possibly bring some (short term) pain. Itās certainly not an ideal situation but once it is addressed it should no longer to a barrier and I expect some investors are waiting for this outcome. The company do not help the overall situation at times with infrequent formal updates to the market and some unclear messaging. Time will tell.
Its not āsoaringā though. Itās steadily gone up to a profitable level for the company, not to the heights of the increase after the start of the Ukraine war and nothing like the 2018 spike. I would prefer it like this, maybe a gradual increase to $ 50. The company will need to confirm the figures through the financial reports when due
Im specifically talking about the 2023 figures not 2022. As SF points out the 2022 financials in June will contain the cash figure at the end of 2022. Iām highlighting when we can formally get the figures for this year , 2023, to correlate company profitability based on increased production of K3 , increased V prices and favourable exchange rates. It will also highlight the impact of any loadshedding on the figures.
We will get formal clarification and subsequent outcome of the Orion debt situation before we get the full 2023 financials. I expect this clarification to be close to the maturity date, i.e. late 2023. We will get the half year financials (interims) before this, probably September with the H1 Operational news in July with some pointers.
The SP is languishing because of the lack of institutional investors. When golden summit sold out, and also that tracker fund I canāt remember the name of , those shares went to PIs. This has left an imbalance with a high ratio of PIs , probably around 75%. We therefore need the positive news to come from the company to hopefully enable the IIs to sit up and take notice, ideally at least to the tune of about 200 million shares. This would help correct the imbalance and restore sentiment. That is partly why the SP is where it is.
I agree it is the black and white financials that will clarify the companys position with profitability and cash-flows , the next one probably dropping in September covering H1 2023. The H1 operational report will give some pointers which should drop in July. The lack of newsflow is affecting sentiment and wexseem to drop off the radar, the paltry volumes being traded are testament to that.
Not sure what has happen to the BE spin-off, I can only assume there is a dependency on MUST relisting but delays donāt help. We should also have an update on the minigrid and electrolyte plant in H1.
There is no sustained buying with still fairly low volumes. Any larger buys are still being countered by selling, yesterday was a fairly good example. It really needs news from the company to stimulate interest , good news I should emphasise, in order to turn this round. The Q1 results should confirm increased production but It will need a bit more . We have the electrolyte plant, minigrid and Mustang news due in H1. Hopefully these will act as a stimulus.
Generally there is less money coming into AIM than there was pre-pandemic.
The debt will either be renegotiated with Orion or funding will be sought from third parties to pay the debt off. Its whatever option is the most beneficial to the company that will determine it. The company will hopefully reduce the overall debt burden by paying off a chunk it which ever option is selected. It may not be pretty but we await the terms around this, which will not be known until later this year.
I donāt believe the market capitalisation, which in effect is driven by the share price, will have any effect on the renegotiation. The company have two choices here, to pay Orion off or to renegotiate with Orion. They did hint that they were looking at third parties for finance which indicates they were looking at raising the money to pay Orion off in full.
So with approximately $40 million outstanding, the company can look at hopefully using something from profits to get that figure down and raise the rest through the third party to pay Orion off. The alternative is to renegotiate with Orion whatever amount is outstanding and work with that. The only problem I see with that is Orion I believe will be less inclined to have any arrangement linked to the share price. So alternatives will have to be discussed, rather than raising CLNs which suits the company as they just issue more shares at a point in time.
Neither option is pretty. Debt is becoming more expensive. Certainly the company will be able to evaluate what is the most cost-effective way of doing it, hence involving third-parties. I donāt think the company will be able to make any further announcements till closer to the deadline