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Could this risk factor be the sell-off trigger (page 91 of FY2022 report):
ii. Impairment of exploration and evaluation assets
Judgements made in relation to accounting policies
As disclosed in note 13, the Mokopane license held by the Group requires that mining operations commence prior to the end of January 2021.
As at 31 December 2022 no mining has taken place at the site. Based on the conditions included in the mining right, the Group has the right to apply for an extension to the requirements to commence mining activities and an application has been submitted to the Department of Mineral Resources and Energy (“DMRE”), however a response has not yet been received.
Based on the mining right conditions, including that the Minister has to give written notice regarding a potential suspension or cancellation of the mining right and that the Group has the opportunity to provide reasons to the Minister on why this should not occur and the remedies put in place, the directors are confident that the extension will be forthcoming and the license therefore remains valid. Consequently, the directors have made a judgment that no impairment of the related intangible asset with a carrying amount of US$53.47 million is required.
Re:..Anyone who listened and sold up would have saved a fortune here...
Or those who haven't bought-in like me in mid 2020 in 11-12p range, I was considering back then but some providence and couple of warning flags have pushed me towards other alternative ticker (which btw has yielded quite good return so far). Initially was painful to watch it going up to 20p but now seeing sp at these levels I'm glad that this trap was triggered without me caught inside. Not losing capital is one of a top priorities in investment checklist after all.
apparently ****stan - name of the country between afghanistan and india is illegal here.
what's even the point of having south african listing? hmso has no any sa assets left. listing on cayman/****stan/ukrainian exchanges might have the same effect.
So RNS reminds (again) that there's no whatsoever residual value left for shareholders and for some reasons sp is still not 0.000001?
This scaremongering outcry rather displays worry about losing salaries and bonuses,
a weak attempt to protect it at all cost despite running the company into the ground,
there's no true "care about shareholders", this is being only used as argument,
just effort to keep position and fat money flowing into the pockets,
these battles for power happening all around across many boards in various loss-making companies,
I've seen controlling shareholders being ousted by rogue boards so many times..
Hmmmm, company is consistently making deep loses 5 years in a row including materially high general/admin costs than their gross profit..
The only reason they do survive is by printing more and more shares..
By the looks of it it's not even sustainable business if people stop throwing money to fuel this furnace via new equity raises and debt buildup (especially considering much higher base interest rates and accordingly higher required return on investment).
RE: "....It will be 1p plus if not today it will be tomorrow..."
Based on what? Following was known and clearly stated since a long time ago:
"...Under the orderly wind down of the Amigo Loans Ltd business there is no expected residual value for shareholders..."
Any new investor doesn't give a toss about previous shareholders either.
Re: ...In THG beauty, our online retail platforms have focussed on profitable sales in markets where our localised infrastructure can deliver economies of scale...
Hmm, I haven't seen much of this "promise land" profitability for 3 years already?
Re:...For Metro to remain at this sp it will need to continue making a loss...
No, sp will go down materially if it's going to make further loses.
Re: ...but its making a profit now, the market is waiting for how much...
There's no audited evidence of this, there are speculations, forecasts, promises, expectations and hopes.
As a matter of fact - there's no public information about positive net profits at this point.
Re:...Metro "can" be valued at 4-10 x profit...
Before "risk-free" interest rate increase MTRO debt was costing nearly 10%, these days both: base rate and risk premium are much higher. Conservatively/optimistically it possibly might be 15% discount factor (net profit 6.6 multiple) but with other options on a market I would rather put it at 20-25% as required return for mtro (or between 5x and 4x)
IMV your upper bound of 10x is something really abnormal.
Not really, IMV only A$29.7 is attributable to LIT or £15.9 (then net of internal costs of course), fund investors get their slice first.
Also A$15.1 of that amount (almost a half) is actually performance fee paid by fund, not direct investment case gain.
Obviously much less with be left (attributable to shareholders) after cost accounting.
It is a very good outcome (congrats) but not that crazy as other posts are trying to show taking numbers out of context.
People listening others on forums to base their investment decisions (e.g. bias ramping, investment fallacies, asymmetric information, or battle informed vs uninformed investor, etc.) are most likely to lose their capital one way or another (therefore it doesn't matter if this happens on this ticker or a different one). Statistics clearly shows this is inevitable outcome for majority of uninformed investors (punters) anyways, especially considering historic distribution of outcomes on AIM, it is a very expensive learning curve before DYOR is taken seriously with onboarding of relevant competences and vigorously following investment checklist.
Ohh, sure, since all property funds are clearly in a best health these days and will get even better with interest rates raising practically permanently and recession looming, hmso becoming a hot cookie stock with best prospects on a market because of that with valuations skyrocketing next year, right?
Hmm, not sure how a consistently share-printing and loss-making company (losses were accelerating by the way over last 5 years reaching £8m+/pa{or weird 18m period} or 0.7m monthly) having below £12m of equity (as per last annual report ending Sep-2022 and even worse considering recent placements of 0.3m in march and 0.5m in may net of monthly loss) majority of which are intangibles or other illiquid assets (hence will turn into dust if things go south) is suddenly valued at £10m? Well, world is full of unlikely surprises. Have they discovered a time travel or something?
Re: ...I really hope the BoE/PRA have the balls to reject Revolut's banking license application though...
The moment they become compliant (which is merely a question of doing some proper housekeeping) and looking at authorizations/approvals history (BoE/PRA/FCA..)- there are hardly any obstacle to get banking license, UK counts those in hundreds, it is not something rare/scarce.
Here's list to BoE authorized banks as of May-2023: https://tinyurl.com/2dtm2khz
hxxps://tinyurl.com/2dtm2khz
Re: ...Giving them an even stronger hold of the upcoming vote...
Hold? Existing shareholders have nothing to do with any future of CINE, it's wholly in lenders hands and it's been like that for a while.
Re: ...Worded correctly, and spot on. Everything that Duffers has done made the company worse each time...
Assessment on governance, BoD reputation/credibility (history, etc.) and project viability are on a top of the due diligence checklist of any sensible investor.
You say each his action was only evidently putting another nail in a coffin - but then why on earth would anyone stay invested and passively watching their capital burn in flames despite red flags hanging all around it before this sad outcome?
RE: #thehareraiser - ...clearly every word said here was a load of bs...
BODs in majority of companies trying to raise a capital talk tinted-glass $%it on these events, whoever trusts it - is their own enemy (and of their capital), but this is understandable, you can't expect BoD to say "situation is terrible, it's game over unless you give us more money", that would be a very bad sales pitch with very predictable outcome (and only accelerating it).