I posted the link as requested. People can make their own minds up. Bear in mind when MCG Global collapsed these legacy contracts were left unfinished and open to the elements for quite a while. Are you invested here Smithie? |
...sooty snipes
I disagree.
If you contract to get stuff like fresh water pipes or dirty water pipes or electricity put in
Logic says that you do a basic test or inspection soon after it is done.....& before you fit/add plaster/plasterboard.
If do a number of joints with push fit pipejoints then personally I think that a leak is a real possibility, whereas with soldered copper joints the % chance of a leak is very small imo if visual inspection shows that it has been done correctly, using enough or too much solder & the colours, sheen, overflow look correct/sufficient.
Sounds there was zero quality control & zero/little inspection by any site manager. |
Link to yesterdays presentation below |
Sooty - could you please post a link. It sounds really valuable info. |
If the work was so shoddy, why wasn't it picked up when kinovo first had to provide an estimate of the cost of fixing it ? Did KINO actually look at what needed doing or just kick the can down the road ? The difference is so large from the original estimate that it doesn't look good from a trusting mgmt point of view. |
From the presentation seems that they are considering a way out of the final project. Makes sense. |
I listened to the live presentation this morning. Feeling very confident that the storm clouds are behind us. |
Got some at 40.8p, but failed to get any below 40p.
V pleased with the Director purchases and the bounce :) |
Hopefully be back over 50p shortly, well done all those that bought the dip! DYOR |
agreed on all. Well done Exec team for showing the way and with meaningful purchases not just a few grand. |
I had no doubt we would see some director buys . Shame never got any at 38p or 41.5p on Friday when I tried to buy . A quick move back to high 40s post IM tomorrow and then we wait for some kind of DCB conclusion and a beat to numbers expectations . |
Board must be reading my/our posts hehe.....great to see some material director purchases here, really a v. solid message to the market IMO....DYOR |
well said nico
Need to get all but 1 of these contracts done and some CLEAR understanding of what the last contract involves and risks associated likewise any recoveries and what they could be so we can all take a view.
Can't see how we are in a net debt position at year end given EBITDA H2 generation and interims had net cash...just IMO....DYOR etc....
so I am more bullish and agree, next fiscal should be targeting £7m++ EBITDA, put that on a 7 times ratio, net cash increasing, job done....
DYOR |
But this has become more retail centric so TS will know he will still have to bid 65p plus to have any success of a take over .Mkt cap £25m debt 1m (worse case imho ) Dcb sorted and Ebitda of 7.5m (year end 25) . Cash will prob rise to £2m next year. Fair value is 100p minus 20p for reduced mgmnt credibility .Not added as got enough stock but I'm still very bullish here . |
The people responsible have already rolled to the bank when they sold. |
A kick in the Goolies yes but Dcb is nearly over and so what if we have 2m pds of debt (worse case)The rns actually read very well outside of Dcb shambles . 6.2m will be blown away . 6.5m plus more like .So if we get to 7.5m ebitda next year with 2m of debt what's mkt cap? It won't be £25m !!I'm still bullish . Directors don't need to buy as they have got plenty of skin in the game but I'm sure when they're not inside they will add as they always do . |
100%
Directors may be in a close period though at moment ahead of March year end?
Either way, they need to put some £s skin in the game to reassure investors I agree |
Would have liked to have bought some today but short of funds. There again I'd like to see some director buys now to reassure investors the worst of the DCB debacle really is out the way. Perhaps they may shed more light on the final project next Tuesday |
It might be worth listening to the Investor Meet presentation on 12.03.24.
It's listed on the Investor Meet website as 'Update on DCB Discontinued Operations'. |
Looks like it could move up on the offer again with a few buys IMO....
DYOR |
I agree, although depending on what the work is, torrential downpours/flooding often makes things unworkable. |
And who tipped them sellers off yesterday at 4pm? |
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