Tungsten Share Discussion Threads

[bs76] 13/6/2018 22:24

Hmm. Atleast Odey is not selling his holding. He is trying to change the management to get better results. I thought Rick has done pretty well in last 2 years to close the gap between revenue and expenses. But what do I know ?

[henchard] 13/6/2018 22:16

E Jones - Tungsten did pay £100m for a perennial loss-making business with almost zero net assets and booked virtually the whole £100m as goodwill did it not? That's not misinformation and drivel. I'm asking what's changed?

edit: P.S. re. "Stick to UK Oil and Gas". Perhaps I should also stick to CTAG, GBO, BNN, FXI etc ... except they're no longer around. UKOG's almost played out, so I'm looking for other grossly overvalued stocks with classic red flags. Being filtered on an Advfn board for querying a company's valuation is one, so that makes TUNG even more interesting :)

[henchard] 13/6/2018 22:11

Wonder who leaked the story and why.

[robmal] 13/6/2018 22:02

https://news.sky.com/story/tory-donor-odey-seeks-tungsten-chiefs-ousting-11403946

[henchard] 13/6/2018 21:37

Is Tungsten still basically that near-bust US business with a couple of million net assets that E Truell paid £100m for about five years ago?

[edwardt] 13/6/2018 20:50

Chaps- sit tight. Sky news reports that Odey has canvassed support of Artemis; hadron and Indus to get change at tungsten. Looks like they want ceo and chairman’s heads. Article claims high compensation and lack of growth given.

Directors of tungsten meeting tomorrow to make a response: apparently two unnamed candidates have been lined up to replace them: a egm will be called if odey and co don’t get their way:

My view is thus is a bit rich coming from odey whose ludicrously poor performance has not resulted in him falling on his own sword, but hey ho, this is no surprise. I suspect truell must be the deciding factor and my uneducated guess he will come back as chairman.

Views people!

[robmal] 12/6/2018 20:59

https://www.globalbankingandfinance.com/partnering-with-fintechs-qa-with-prabhat-vira-president-of-tungsten-network-finance/

[ejcj] 11/6/2018 10:57

How much value can their insight really provide? Tungsten doesn't process all of a supplier's invoices. So they will only be painting part of a picture.

Being able to see if an invoice has been approved and when it will be paid is valuable. But I'm not convinced about analytics on only a part of your invoicing.

[robmal] 09/6/2018 08:48

Eight fintechs shortlisted for Citi India FinTech Challenge:

Outdated systems leave firms drowning in data:

[edwardt] 07/6/2018 14:37

hopefully on better terms to tung.

[zinzanno8] 07/6/2018 13:51

John Lewis is a resign....

[robmal] 07/6/2018 12:48

Tungsten Network extends partnership with the John Lewis Partnership:

[edwardt] 06/6/2018 16:01

giano is the name of odey's offshore fund administrator in cayman.

[phillis] 05/6/2018 08:12

turned the corner for sure

[edwardt] 04/6/2018 12:43

hard not to be a little disappointed but the management are doing a half decent job -from a 20m loss in 16 to ebitda break even albeit on a month on month position is no small achievement. was their no call to listen into? i guess sterling strength is a factor but for network finance to meet its £2m costs it needs to grow its monthly outstanding balances from £43m to circa £215m based on we only get £0.4m now. i know this will be wrong but nonetheless hard to get excited about this part of the business for the time being.

[andrewdbl] 04/6/2018 10:42

Good that they are EBITDA+ :-
you can run the business in that basis for a while by simply ignoring 'D' and just not buying new shiny laptops etc.
my work laptop is 7 yo now and has had a value of 0 for the last 4.
... but will need replacing later this year as it is, finally, slowly dying.

That the situation is improving is good and hopeful, but you can only live on hope for so long.

The 'derampers' have a point. For the share price to grow, the mgt need to state when a 'real' profit will be made, and be believed.

I look forwards to the forward-looking statements on 23/07.

Why?

The majorly positive thing for me is that the mgt said they would be EBITDA +ve early calendar '18, and they are.
That this happened has passed almost without comment indicates that there is a degree of renewed faith in the ability of the mgt to execute on stated aims.

(if you take any account of this bit you are an even bigger moron than me)

Attempting to answer $£,
Personally I expect the share price to be roughly what it is (~55p) until 23/07 and then,
well,
it depends on the forward-looking statement that I am so looking forwards to.

[bs76] 04/6/2018 09:15

Looks better than previous results.
Last year revenue did well => increased from approx 25 to 31
this year cost => went down from 40+ to 36

gap between revenue and cost was never so close - 33.7 vs 36. So at-least no cash raise

Best part is invoice financing- I think prabhat has done well in last 1.5 years
"In April 2018 Tungsten Network Finance achieved daily average outstandings of GBP43.4 million, growth of 210% from the average of GBP14.0 million over the same month a year earlier and each performance metric that we monitor reflects improvement."
in jan update
"On a daily average basis, invoice outstandings were GBP33.8 million in December, up from GBP22.4 million in October and GBP14.0 million in April 2017."

every 6 months daily average outstandings growing => 14 -> 22.4 -> 33.8 -> 43.4

[phillis] 04/6/2018 09:11

BookB

the most important thing is for an operation is to generate cash

[dollarzpounds] 04/6/2018 09:07

At first glance 'inflection point' sounds encouraging? It's a shame nothing ever seems to shift the share price north? I await the more learned members of this board to give their insight and opinion......

[johnwise] 04/6/2018 07:53

Who is the worst Deramper you have come across? This would be good opportunity to warn other investors (esp newbies) about the heartless souls who will quite happily slag off shares without any real credible info and watch your wealth disappear.

[bookbroker] 04/6/2018 07:52

Ebitda is just a ruse for making a loss, it’s time accounting rules were simplified, the bottom line is what matters!

[johnwise] 04/6/2018 07:44

4 June 2018

Tungsten Corporation PLC Trading Update

RNS Number : 1162Q

Richard Hurwitz, Chief Executive Officer

"We have brought Tungsten to an inflection point. We have completed the transition away from legacy infrastructure, enabling us to significantly reduce capital expenditure in the new financial year. Our business has operated profitably on an EBITDA basis and our trade financing activities are growing rapidly.

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