Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
And how do you know that? All BMN shareholders were given ATM shares. The electrolyte plant is under BMN , at present zero value has been applied to BE by the brokers as its not generating revenue, and unlikely to do for some time.
At some point BE will be spun out and I expect BMN shareholders to be allocated shares in the new BE, possibly being able to purchase additional shares at a preferential rate. A line will have to be drawn regarding qualification, and there will be a lot of detail to thrash out, but BE has been a drain on the overall company. I think this was the plan all along, indeed it has been speculated previously on here, but the expectation was probably that BE would be a more mature company by now but things like Covid have pushed things back. The devil may well be in the detail, but I would expect things to move fairly quickly (by BMN standards). Now you know what the new broker will be ding.
I am going to re-read the Orion terms of reference. You are correct that the price was around 17p, and I believe the date of September 2023 was mentioned. I cannot believe Orion will have left themselves open on this. There is usually some clause to mitigate for the share price not being achieved.
We are awaiting confirmation of costs reducing. The year end financials should give the full picture for last yaar including the extras (admin and sundry costs) which can bump up the costs per kg by $7 to $8. We are still waiting the status of kiln3 , but we do know that parts of the operational costs will increase based on the recent wage agreement.
Of course the list of failures is not endless, but its certainly not a short list ( is this a negative I’m posting?). In respect of the minigrid that has not been updated for several years , some impact of Covid on it, but as I posted earlier the company needs a consolidated key milestone chart showing progress on key projects , milestones , including stagnation and slippage , as an easy to read guide. At present some information is scattered about various RNS and presentations, making any assessments difficult.
On a slightly different topic the main market listing has again been mentioned here recently. I have always doubted this is FMs intention, it would mean far more regulatory compliance and accountability by the BOD. Not to mention additional expense .
Pdub. The definition of what constitutes a positive or negative post is surely subjective? The comments Daisydog makes about Eskom dependency for example is perfectly valid , and I would go back to MNs rather infamous quote that he had been speaking to hundreds of companies several years ago.
I emailed them some time ago asking how much it was costing to have Lemur which will be attracting some costs to the company. No reply. Well we have people working on it but no idea what they do. The company website not been updated since 2017 on this.
The company need to issue an up to date roadmap with dates for key milestones. For the last few years these are fragmented in operational updates with no clear sight of when, or if, they are being achieved. Recent example kiln3 which in May company announced should be live in May (which itself was on the back of previous slippages).
When buyers return and the sellers stop? At the moment we just have our daily large seller(s) with no one mopping up, still suspect some of these may be AV. Absolutely no buying pressure. If you look back to the director/ management sells in February of last year at 16/17p the sp has not reached those dizzy heights since.
I may be misreading what you have put down. In the contentious part you seem to be making an assumption that the money from selling shares goes to the company?? It certainly doesn’t. Sorry if I’ve misinterpreted the meaning.
We did get days when trading was very low or even non-existant back around 2014 or 2015. I do recall at least one day when we have no trades, others when you could count them on one hand. It’s only because there are some residual amounts appearing these days that the current figure is exaggerated anyway.
I disagree with your analysis around support levels. Support levels are a myth. Investors may have there sell limits but in a share where the vast majority are in PI hands sells will appear at any point for a multitude of reasons unconnected to a particular price.
Certainly the cycle that has existed for a very long time now of issuing quarterly operational updates is unsustainable in supporting the SP. There appears to have been no advancement on a number of fronts for years in some cases. The quarterly updates are not financial updates.
In the Q1 operational update issued on April 26 the company announced that the Kiln3 commissioning would be ready and expected to be online in May 2022, which at that point was about five days away. Since then nothing. So either Kiln3 is now online and production is getting ramped up and they just have not told us, or commissioning is still ongoing and Kiln3 is not online.
From the RNS. Vanchem's production run rate is expected to more than double from 1,100 mtVp.a. to a run rate of 2,600 mtVp.a. by the end of 2022, supported by the commissioning of Kiln 3 and associated downstream refurbishment. Kiln 3 commissioning has commenced and expected to be online in May 2022.
Possibly not Duferco selling. There are probably around 1 billion shares in PI hands many with large holdings, some into eight figures. I estimated that Duferco could still have up to 20% of their original chunk left as I believe there bottom was around 10.5.