Getech Share Discussion Threads

[32campomar] 03/4/2024 12:52

Great write up thanks Martin I Like this bit 'they are now receiving substantial interest in the using of their tech for the exploration of white hydrogen'Very cheap

[hastings] 03/4/2024 12:23

Write up for interest, following my catch up with Richard Bennett.https://martinflitton1.wixsite.com/privatepunter/post/getech-could-prove-well-placed-for-growth-03-04-24

[32campomar] 03/4/2024 09:24

Our collaboration could prove to be very valuable!

[playful] 03/4/2024 09:15

Great to see East Star Resources doing well today.

[book5] 02/4/2024 08:53

That is our market

[32campomar] 31/3/2024 16:29

Excellent article

[playful] 31/3/2024 14:49

We are featured in today's telegraph...

Getech, a London-listed tech company, is collating data from across Britain and has pinpointed potential hydrogen-bearing rocks in parts of the British Isles too.

The deposits lie in a belt across Scotland stretching roughly from Greenock in the west to Aberdeen on the north east coast. There are others on Shetland, the Lizard peninsula in Cornwall and near Omagh in Northern Ireland.

Chris Jepps, chief operating officer of Getech, said: “This is an embryonic industry right now. So it’s too early to say much but it’s also very exciting. There’s some evidence it could be as big a market as oil and gas.”

[playful] 27/3/2024 09:23

A global gold rush for buried hydrogen is underway — as hype builds over its clean energy potential

[32campomar] 26/3/2024 08:03

Another partnership, this time with American stock exchange listed Exprohttps://getech.com/news/getech-and-expro-partner-to-advance-sustainable-energy-solutions/

[hastings] 21/3/2024 10:31

It has been a while and apologies in order, but I try and prioritise calls and comments/thoughts within the time limits. Hopefully GTC has turned an important corner at last and I'll attempt to be more proactive!

[32campomar] 21/3/2024 09:58

Nice to hear from you & that you still have an interest here, it's been a while !

[playful] 21/3/2024 09:50

Thanks Martin, I look forward to reading this.

[hastings] 21/3/2024 09:46

Good to see some momentum and focus on the historic/core business, which is what attracted me in the first instance.Pleased to say, I'm currently engaging with Richard Bennet for a catch up that will hopefully happen tomorrow.I'll add a write up on the back of that for interest.

[32campomar] 21/3/2024 08:40

1.9 million net cash is really good news. Last year it looked like they may have to raise cash, but that looks unnecessary now .With AI progress, if this was listed on Wall Street as a technology stock (which is what it should be rather than in the oil and gas sector) then its valuation would be much higher. It's a shame the UK stock market is so depressed at the moment but at some point investors will realise just what we have here.Richard Bennett should go on a charm offensive in America!

[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 ?