Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
MTRO has a very unusual business model - lending to property market sector then selling mortgage portfolio at discount (not a first time right?). I might misunderstand something about how capital owners of this bank get any profit, unless it wasn't the intention on a first place.
Not sure results are that good, comprehensive loss for 6 months is £61m (mostly because of FX).
administrative costs up 50%
financing costs up by 65%
but even it you take purely operational results - profits there aren't sufficient to support current m-cap, gap is huge.
That's BS, these sells aren't from MMs, having predominantly high base bank interest rate - risk-adjusted required return on investment suggests sp should be much lower, that's pure fundamentals, people just acting accordingly before it falls even further.
@everythingmoney
There are some numbers on a paper (details are being finalized by court)
but it seems to be unrecoverable anyways, so not a chance,
lethargic investment approach with another few years of not looking might be best option.
As expected financially they do hold reasonably well with sufficient liquidity reserves, revenues are depressing but that anticipated too, nice to see almost static finance costs, I was waiting to see a bit more of their asset value writedowns though (NAV/mcap holds pretty well at roughly 50% of equity).
What's the cases distribution across geographical jurisdictions looks like for LIT?
This may help with evaluating potential write-down exposure.
That's quite significant impairment considering their residual equity after loss last year.
Their liquidity wasn't in good shape even without this update.
Not the stock per se but rather commercial real estate in general and office space to be more specific (not hmso's dominant segment, it's retails spaces after all), most of hmso drop is because it's dragged by association, smaller part of this drop is caused by their financials (although INTU collapsed because of their liquidity issues triggered by debt and problems with refinancing) b/c hmso has some liquidity buffers after converting assets to cash recently therefore they can last for another year or two despite suffering losses. If hmso are to follow refinancing path then in current environment rates will be very punitive too.
imo - banks have much more exciting times ahead with their residential property packages.
I don't see £10K trades, only 7K for 1m shares at 16:11 (nearest time to your post) , couple of half mil shares at around 16:00, then 4m for £27K at 12pm apart from two day-closing ones for nearly 1m shares each £6.5K and £5K respectively.
Well, good luck Mark, I'm definitely not touching any kind of this toxic mess anymore despite getting some very pleasant profits on these swings since JB, because such outcomes are pure gamble or favorable coincidences (like with Vincent{?} last time, man betting millions of his savings?, these things aren't expected or predicted and can't be relied on) for uninformed investors without much of a control (even by BoD despite their efforts working out alternative solutions with parties including regulators). Probabilities of complete capital wipeout in these endeavors are through the roof and endgame market statistics isn't pretty even if you do diversify between cases or keep rebalancing as it goes.
I'm happy with my profits made on such several lucky cases (thanks to my active position making right choices at right times especially on emergency exit triggers) but I've in serious doubts these results are sustainable, once material chunk of your capital is gone - recovering these loses might be a very long and painful path.
Inflexion either has a hell of a plan on how to monetize their acquisition or has much more info on new developments than general market has (given recent new Commercial Services appointments), otherwise it doesn't makes any financial sense of buying out DWF at price way above fundamentals.
Eventual outcome very well known in advance.
I wonder who were those holders ending up with any shares of no value and even what was the reason for buying these last days..
Re: "...Optimistic for a favourable outcome in the coming weeks and months…good luck to all holding!..."
Lol, Despite constant reminders by BoD (as quoted below) of impending 100% shareholders wipeout in each RNS.
AMGO is just following NSF' footsteps.
Whoever buys here will need all the luck in a world to get out of this without scars later on..
---------- Market Update --------
The Board recognises the very low likelihood of a successful conclusion to any discussions arising because of this Agreement but is pursuing the Agreement in line with its duties under the Companies Act to consider the interests of all stakeholders, including creditors, shareholders and employees. Under the Fallback Solution of Amigo's Scheme of Arrangement (the orderly wind down of the Amigo Loans Ltd business), there is no expected residual value for shareholders.
Everyone' opinion is merely a guesswork at best or worse - having an agenda of affecting opinion (for their own benefit).
Catching a falling knife is quite common outcome for those who try to time the market,
it's a game with average negative outcome anyway.
GL.
PCF' 2022FY results shown further equity drain with 14m loss.
Assetmatch last auction couldn't match any trades only mentioning some bets at 0.75p (pointing to yet another sp decline)