UK 18:48 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
A visit to the quack today was not good news but at least the woes of English rugby and LGO Energy (LGO) are there to cheer me up. in this podcast I discuss Alexander Mining (AXM), Cloudbuy (CBUY), the hoods at Equities First Holdings LLC (EFH), Daniel Stewart (DAN), Imaginatik (IMTK), Wandisco (WAND), Mirada (MIRA), Range Resources (RRL), tech stocks vs mining stocks, Amanda Van Dyke and, to end, I can't resist a cheap joke about the rugby.
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Comments
Steve
Tom – interesting update on Mirada. I’m a shareholder and was fearing the worst when I saw you mentioned them in a bearcast but your comments are surprisingly positive!
However, clearly one of the reasons for such a fall in the SP has been the fear of the market that a further placing will be needed. While its great that José has indicated to you that MIrada do not need it, how is it that this can be stated in a private conversation and not via a market communication – is this not price sensitive information? I’d be interested in your thoughts on that.
My own view is that they could probably avoid raising money – the net asset position at least year end was around zero but there was a £500k liability for a provision booked for lease dilapidation which I don’t expect will have much impact this year so my assumption is that net current assets are effectively £500k. On the current asset side they had cash of £200k and receivables of £3.6million – on the current liabilites side they had payables of £1.8million and short term debt of £1.5million. Given the contract remains in place and is progressing I would think they have flexibility in terms of short term debt so they would have the flexibility to run a net current liability position and indeed the end of the prior year had a 1.8million net liability position.
If you strip out working capital movements cash burn in the last financial year was £1.4million and £0.6million of that was repaying longer term debt where reductions could also be slowed down to preserve cash this year.
So I think starting from a net asset position of £500k and with room to run at least a £1million net liability position I think they should be ok.
rufus
Looks like you were wrong to believe Jose. If you can’t believe him on the placing can you believe him when he says the contract is only delayed?
I wonder how cast iron this contract is if the counter party is able to delay implementation. I wonder if there are any sanctions in the contract for delays/non performance by either party.