Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yes,
Nobody pays much attention to the results at the moment except for cash burn , today has answered that.
Angle plans to release its interim results for the six month months ended 30 June on Thursday, with revenues expected to have fallen 39% to £200,000 and pre-tax losses predicted to be broadly unchanged at £4.8m.
i wouldnt be surprised if these placing shares were forward sold from the 50-55p swing we had at the start of last month. that would give placee's their 20% flip and now mm's balancing the books hence drop towards 46p even after decent FDA acceptance news along with other postive news.
like what monkshood mentioned. they should of had around £6-8M in cash so that was several months before they had to raise again. possibly obtaining a safety net just incase theres any delays in FDA approval and sp getting hit. now they have plenty of cash (after placing) and able to comfortably wait on fda approval but can get into discussions with partners so they can close the contracts ater approval.
revenue down 39% which is never good reading but understandable considering covid restrictions on cancer research facilities. although maintaining a 75% margin is still very good. and when the sales start coming in after FDA approval that 75% margin will bring in some serious cash.
last placing before FDA approval then start the growth phase (until buy out anyway!!). more positive news regarding clinical lab's or 'commerical expansion' will boost the SP hopefully before the march-may timeframe on FDA approval.
I am very disappointed too they left us out of the deal. Thank you Andrew, pleasure to do business with you.
GL
They should not have a problem with a placing at what is now a 10% discount. I just wish they would give existing shareholders the option of buying in at the discounted rate as well.
SCE was an exemplar of how to do things earlier in the year, as a result they have good support from their PI's which then gets reflected in the share price.
why do placing when they can cover until Q1 next year?
are they not confident on FDA approval or expecting a rejection which would be diasater and another few long years of wait?
A question to think about
At the moment they seem to have about 1m/per month cash burn. They should have 6-8M left, plus this raise, so they should have no need for any more until they are generating far more revenues (hopefully...)
Yep, best to get this out of the way - Mr Market could see the time frame was too tight on FDA clearance - & - it will take a few months beyond that for sales to gain serious traction
Wasn’t expecting that, but clearly those in the know did as usual hence the sp action since submission
I hope this allows sp to rise now without fear of fund raise
I thought the placing last year was to cover most of this..
I really thought that we would not get one until after the clearance when the price would have gone up and the dilution would be less for the same fundraise.
From the previous placing.
- £2 million to establish a service laboratory to support pharma services and accelerate clinical adoption;
- £1 million to develop techniques for culturing CTCs for drug testing;
- £2 million to establish a breast cancer remission monitoring study; and
- £11 million to strengthen the balance sheet in preparation for negotiation of potential corporate partnership deals and provide working capital extending the runway significantly beyond the expected timeframe for potential FDA clearance and completion of the ovarian cancer clinical study.
It is more typical to release good news just before an AGM and then do the placing after.....
We know why now.
Even like today with some nice buys coming in plenty of blue we do not budge. Being held back for some reason still I will grab some more before we can only look back a dream at sub 50-55p buy in opportunities. GLA