Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I hear you Laz, maybe Rf was a better option than the City. However the BoD could have apporached PI's first. The last WRAP proves PI's would have been a better option. Certainly in the first instance anyway. Could have then sought a smaller top fund from city etc if required.
I would take a lot of convincing that RF deal was the best option. Especially as it would appear they were on a mission to destroy the company (which they very nearly did).
Elcap
It's only listed companies in the US that have to have higher sp's to comply with listing rules, there's no guarantee that an unlisted entity will have a high sp.
Agreed - I have mentioned this a couple of times recently - maybe our BoD has been more astute than many on here give them credit for.
Even Puma stated that the City would have raised at a huge discount to the RF deal. In essence, the City will take the shirt of your back.
Avacta have also largely changed their focus to the US recently.
I've posted a few times on different boards now that AIM is no longer an investment market. It's simply a cash generator for MMs and their hedge fund buddies.
It needs a complete overhaul if it is ever to become some form of fair and transparent market
Clearly our focus here is on Sareum so it's easy to forget the dozens of other small UK biotechs jostling for funding. If the RF deal really was the best or only option, just think of the other companies who couldn't even get that.
Absolute crazy how much some of the US Bio start ups can raise compared to the UK and just how undervalued we are just look at Avenzo raised $350m in a year to license in assets: https://avenzotx.com/news/
https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-24
Yes UK has huge problems, the US are seeing mjor opportunities here, pickinh up companies on the cheap.
Hopefully we will get news about the US pharma soon with the 135,000 shares that cam as part of the comercialisation deal. They have much higher share prices that in the UK so hopefully it will be valued in the millions.
Stumbled across this article - https://www.telegraph.co.uk/business/2024/04/06/london-bad-place-raise-money-life-sciences-john-bell/
Extract -
"One of Britain’s top life science leaders, Sir John Bell, has warned over an impending exodus of drug makers from London as he branded the City a “bad place to raise money”.
Sir John, an industry veteran known for his critical role steering the Covid vaccine rollout, said British biotech businesses “are all going to pack up and go somewhere else” if the UK’s equity markets do not become a better place to raise money.
The comments come just days after two British drug discovery companies announced they were quitting London’s junior market. On April 2 Redx Pharma unveiled plans to delist from the Alternative Investment Market (Aim), claiming its low valuation was “not conducive” to raising cash to spend on more treatments. It echoed an announcement from C4X Discovery a week earlier where it said it was leaving Aim because the recent downturn in the financial markets “adversely impacted our share price, and with it, our future ability to raise funds in the public markets”.
The moves have sparked fresh concerns over the health of the UK capital markets. The London Stock Exchange has been struck by a spate of exits over the past year, including travel giant Tui and Paddy Power-owner Flutter.
Sir John said it was like “night and day” comparing London with New York’s Nasdaq exchange.
He added: “The London public markets are just too light on investment capital. In general terms, they are a bad place to raise money.
“One of the whole reasons for being on the stock market is to raise capital, but that has stopped being the case on the London exchange.”
Sir John said this was leading to “inappropriate” valuations for many small and medium-sized biotech companies. “You can hear it going all down the gurgler already frankly.”
It comes as calls mount for bolder intervention from the Government to reverse the decline of London’s markets."
Having endured the worst month (in terms of overall fund size) in the worst year of my shareholding career, I'm hoping for much better things in the new f.y. I know I'm not the only one to have had a rough time of late, so let's hope that things finally turn around and give long-term holders in particular a much-needed break. GLA.
Along similar lines Billy, I'm hoping that once the dosing of the initial 24 psoriasis patients begins, it'll very soon become apparent how effective it is and that the trial will be closed down quickly to facilitate a much wider group. It's the kind of condition where it will be obvious either that there has been a significant improvement or that there hasn't. Here's hoping anyway.
Have a look at #MIRI after seeing that mega news this morning.
Go and check #MIRI RNS. After all, we're here to make money.
Glad it was a misprint, was getting quite worried for a minute! :O)
Looks like placing shares beginning to wash through, plenty to go still, but rising strongly nonetheless
4.5 was a misprint on a bed an ISA I think bids up...
With financial concerns addressed, this should move to 25 plus quickly and then steady move on the flow of news. All the best.
Just touched 13p bit of a drop to 4.5p on investing .com, not sure what that was?
Most of the 220k sells are ISA (20K) purchases IMHO ; also there appear many BED & ISAS which are being shown as 2 * sells
Hence the numbers are vastly skewed showing more sells than buys ... which is a false impression of trades
Up 10% with £200k of sales churning through. Looking good from both ends.
Hi Potnak - I completely agree. And that's a good thing in my opinion...it is good to have liquidity in a share.
And as little as 3 months ago the SP was 5 times the current level. There is a lot of room for upside in the short - and the middle term.
The share price has bottomed out into oversold and cash raised at the bottom. Just need to see regular update/income from SR737 and trials and this should gradually climb back to higher levels
Thank you for the well-wishes Aberystwyth.
Bill
HD, thanks.
My purchases at 10.03p are looking healthy,long may it continue
I think we will see trading all the way to a £1. To use the language of the internet boards, every 10p is another bag for those that bought in the market. I guess we don't know what broker note Hybridan put out to its clients when recommending the offer but when\if we hit that, I think we will see quite a few sells. Any Hybridan clients here or on the Telegram group?
How come sareum doing so well today? There's no RNS