Getech Share Discussion Threads

[playful] 21/3/2024 07:51

Broker note…

We have introduced 2024E, 2025E and 2026E forecasts. Following a muted 2023E, we expect 2024E revenue to increase significantly to c£5.5m (2023: £4.0m). Whilst a material c37% YoY increase, our 2024E revenue forecast is only c9% higher than 2022A. We expect this increase will be driven by the recognition of the Company’s £4.5m orderbook into revenue and new contract wins. Getech has already made a strong start to 2024, having announced three new annual software subscriptions and the renewal of eight annual licences for Globe and software licences. Revenues for the first two months of 2024 are c40% ahead of 2023, with annual recurring revenue increasing to £2.9m (YE22: £2.4m). We model Getech being cash flow positive from operations in 2024E and increase our target price to 15.0p (from 13.2p), a 2024E EV/Sales and EV/EBITDA multiple of 1.5x and 10.2x, respectively.

[32campomar] 21/3/2024 07:16

RNS Number : 6850HGETECH Group plc21 March 2024 21 March 2024Getech Group plc("Getech" or the "Company")Trading and Technology Update Getech (AIM: GTC), a world-leading locator of subsurface resources, is pleased to provide an update on current trading and development of the Group's AI and ML led technology.Trading HighlightsGetech has made a strong start to 2024, with revenues for the first two months c. 40% ahead of the same period in 2023.In 2024 to date, Getech has secured contract wins totalling £0.9m, including three new annual software subscription customers as well as the renewal of eight annual licenses for the Globe geoscience platform and software products. As a result, annual recurring revenue has increased to £2.9m (31 December 2022: £2.4m; 31 December 2023: £2.8m) and, with the addition of new contracts, Getech's order book value has been maintained at £4.5m (31 December 2023: £4.6m; 31 December 2022: £4.6m).The sale of the Kitson House part of Getech's office completed for £0.65m, as announced in January 2024. The Company has retained freehold ownership of Nicholson House, which was independently valued in December 2023 at £0.86m. Both buildings are located at the same site in Roundhay, Leeds.Getech has previously identified the opportunity to reduce annual costs by £2m, as announced in 2023. The full benefit of these cost reductions is expected in 2024, assisting Getech in realising positive EBITDA and cashflow. The Company's focus on cost reduction continues, with further savings identified and expected to be realised through 2024.AI- and ML-led TechnologyGetech has evolved its subscription model for Globe by offering additional capabilities for further human and Machine Learning-based analysis of its data. This model is well suited to large exploration companies, while for junior exploration companies the Company introduced a hybrid equity participation model, as demonstrated by the recently announced partnership with East Star Resources. Artificial Intelligence (AI) and Machine Learning (ML) is accelerating the value of the Company's core asset and skills, namely its Globe geoscience platform and expert services. Getech has amassed a vast collection of global magnetic, gravity and other geoscience data that was universally deployed by the oil and gas industry over the last 3 decades and it is now applying advanced AI and ML to make this data useful to other subsurface industries including mining, geothermal and unconventional gas including natural hydrogen.By leaning on the collective knowledge base of its geological team, Getech is leveraging AI and ML to source details of known occurrences of mineral deposits and create a digital-genome to search through our global data sets. The objective is to model the "genetic systems" of known deposits, and using Getech's global datasets, search for these same geological conditions to identify new targets. Currently, the Company is verifying this approach with a small number of 'beta' clients with the expectation of making it more widely available to the market.Getech's approach is particularly applicable to the search for natural hydrogen, also known as "white" or "geologic" hydrogen. Natural hydrogen is believed to be an abundant resource and a potential game-changer for the energy transition. Getech is well placed to not only identify likely source locations but also, using its oil and gas expertise, identify conditions where natural hydrogen is likely to become trapped in reservoirs with economic potential. Getech is already commercially engaged to screen for natural hydrogen and expects to launch an enhanced AI-driven natural hydrogen search capability in the coming months.Richard Bennett, CEO, comments "Getech has had a good start to 2024 and I am pleased by the improved financial position of the Company. Importantly, prospects for the business continue to build as we retain our long-term clients, as well as attract new brands to our growing subscription base. Alongside this, the capabilities of our Globe geoscience platform are being significantly enhanced with the application of AI and ML. So much so, that it is arguably a different system from that of 12 months ago - our job now is to demonstrate this to our markets."

[32campomar] 21/3/2024 07:13

What a marvellous update !New contracts of nearly 1 million Cash flow positive for this year on track And the bit that could really transform the companies valuation, advances in AI Excellent start to the year !

[playful] 18/3/2024 17:01

A new gold rush | There are now 40 companies searching for natural hydrogen deposits — up from ten in 2020

[32campomar] 16/3/2024 07:59

I like this bitThe collaboration is already pursuing its first project, showcasing the joint capabilities to a multinational technology corporation. This initiative underscores the partnership's commitment to business impact.

[32campomar] 15/3/2024 20:41

News today in Geothermal. Clearly lots going on https://getech.com/news/getech-partners-with-red-engineering-to-drive-decarbonisation-solutions/

[32campomar] 11/3/2024 21:59

The only thing I can find with Getech is a positive update today from East star with reference to our collaboration In addition to progressing with Verkhuba, East Star intends to drill several other VMS targets in the Rudny Altai licences, which have been progressively refined from the initial 48 targets defined by the Heliborne-Electro Magnetic Survey conducted in 2022. Coupled with our new copper porphyry exploration strategy and the recently announced sediment-hosted exploration strategy with Getech, East Star is well poised to deliver discoveries and shareholder returns at a time when the global economy is beginning to run critically short of copper supply."

[yump] 11/3/2024 17:51

Taking an asset share in commercial extraction processes sounds a lot more viable than previous apparent plans to have an equity stake in public H2 developments, which would be way more complicated and slow, as they involve local or central government.

[pugugly] 11/3/2024 16:29

Possibly tipped over the weekend - Anyone seen or know of a tip?

[32campomar] 11/3/2024 16:21

A late flurry, news on the way ?

[pugugly] 04/3/2024 17:03

You mean this KoBold?


Raised a lot of $$$$$$$$$$$$$$

[32campomar] 04/3/2024 15:44

https://getech.com/news/getechs-advanced-analysis-leads-to-extensive-application-for-copper-exploration-permits-by-sandfire-resources-ltd-in-australia/

[32campomar] 29/2/2024 11:24

Sorry in a muddle Kobold aren't listed but you get the general idea !

[32campomar] 29/2/2024 11:10

GTC are doing exactly what Kobold are doing in America.
And look what’s happened to their share price over there.

[32campomar] 29/2/2024 10:51

Th RNS didn't appear at 7am not sure why Anyway I really like this way forward, to take stakes in future projects and build a valuable portfolio of assets. As most on here will know, if they find a resource, it would be a very lucrative investment.

[yump] 29/2/2024 08:46

I’m somewhat sceptical on what constitutes AI because automated all sorts based on data intelligence is nothing new. Neither is big data, but thats not talked about any more.

I’m sure the journos and many businesses will start using “AI” to cover just a load of data being used by a computer.

[32campomar] 29/2/2024 08:04

In partnership with @EastStar_PLC, we are applying our Globe geoscience platform, cutting-edge data analysis and AI capabilities to both accelerate exploration and reduce costs in locating prospective #copper sites. Read more here: shorturl.at/xyKU8

[playful] 29/2/2024 07:13

Excellent report from ING highlighting the future potential of AI within the mining industry. We can clearly see the read across from KoBold metals….

“KoBold Metals, a mining startup that uses AI to explore for materials key to energy transition, discovered a huge copper deposit in Zambia earlier this year – the largest deposit found in the African country for a century. This deposit alone can provide enough copper for over 100 million EVs.

Historically, more than 99% of exploration projects fail to turn into actual mines, according to KoBold. This is where AI comes in.”

California-based KoBold, founded in 2018 and backed by Bill Gates, Jeff Bezos, Michael Bloomberg, Richard Branson and Ray Dalio.

In medieval Germany, kobolds were mythical underground spirits that lived in caves and mines. These creatures also gave name to the key green metal, cobalt.

[bones] 23/2/2024 13:20

Some thoughts…̷0;….

In 2000, the bubble popped when the FED started jacking up interest rates to cool off the euphoria. Much of the hype was also in loss makers.

This time, there is currently expectation of interest rate CUTS as they’ve risen strongly. The leaders in the AI space are also money making machines. Their growth is real.

That said, if the US economy stays strong and/or inflation takes a fresh hold, the FED might have a dilemma on interest rates to contend with. Any hint of that will pop the euphoria, I reckon.

In the background, there are still a lot of highly indebted companies struggling to refinance. That remains a tsunami not yet in sight I think.

This current hoopla seems limited to a few mega caps in a small group of titans riding a similar wave. Most of the market (excluding the magnificent seven) is not really outperforming wildly.

[yump] 23/2/2024 09:16

Except the dotcom bubble was full of positive hype, but AI is at least 50% worry.

We need some defence against the dark arts floats.

[32campomar] 22/2/2024 23:27

And as I catch up on the telegraph tonight, an article on that very subject !Five warning signs that we're at the start of another 2000-style stock market bubbleThen, dotcom investors fixated on the internet – something similar is happening now with AI

[yump] 22/2/2024 15:09

Prepare for a glut of loss-making floats based on buzzwords connected with AI then.

I could make up an entire prospectus for a defence against AI business, just based on the average AIM tech float.

It would clearly fly with pi’s buying in, as joe public is mow worried about AI.

[32campomar] 22/2/2024 14:16

If GTC can successfully demonstrate AI can more accurately locate resources, these shares will fly.Next few year could be something very similar to the dotcom bubble when anything linked to the internet soared. AI I think will be just as big and the catalyst for a boom - just look at Nvidia's valuation in the US

[32campomar] 22/2/2024 14:12

Since 1990 the cost of discovering #CriticalMinerals has risen tenfold and new #exploration methods need to be adopted. See how Getech's #AI and #ML techniques are setting a new standard for finding minerals like sedimentary #copper: rb.gy/7624pk