Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hard to ubderstand what this is about if not looking to sell it.
If they want to invest. They have the mandate. If they want to buy back. Have the mandate
They have been sat on their hands taking a nice salary and the share price has flatlined. I know the market has been tough, however they need to find a way forward to either exit and return money or add growth to Arix
I think they need to internaly discuss what they are doing :)
At a 50pct discount buying your own shares is a no brainer.! Not sure whey they have not!
Referring to the 2022 annual report I think they already know what they need to do.
https://ether-assets.ams3.digitaloceanspaces.com/arix/1.-Arix-Bioscience-Annual-Report-2022_Web-Optimized.pdf
Page 3 - Goals - Achieve Double Digit NAV per share growth on a rolling 36 month basis.
But how?
Page 6/7 - Chairman's statement - buy backs of >10%, and a strategy of casting the net wider to get more shots on goal plus participate more actively in listed markets stakes in companies with attractive M&A potential in the near term.
That all makes sense to me.
But have the investment team delivered against the Chairman's vision?
Surprised they haven't found opportunities in the sector, with as you say, some bombed out stocks.
At least they are now getting a return on their cash pile.
I do hope they continue, if they return cash I don't think the size of the trust is large enough.
Comparing the Dec 22 portfolio to the June 23 portfolio the listed component has grown from £45.2m to £71.2m.
A 57% gross rise - although portfolio realisations/investments need to be considered. Only one I can see is Harpoon 28/3 RNS for $3.5m.... so a 48% rise YTD then. IMPRESSIVE! Works out at 17p/share.... which tallies to the just under 18p SGD27 calculated.
This is for LISTED investments. Listed means we could have bought more of them easily. And didn't.
Hindsight is a wonderful thing you might say - but where's the conviction? That's what we're paying for surely?
Well, we have a m-o-m net 8p/share rise in listed holdings in today's NAV update.
The strategic review announcement is good to hear and long overdue.
I've not really understood the rationale of sitting on a huge pile of cash year after year. In June 23's NAV it's 78p a share by my reckoning.
Surely when biotech is so bombed out it's time to go shopping.
Looks like Disc have managed to do a Public Offering at $49 :
https://ir.discmedicine.com/news-releases
(At $49, assuming Arix still holds 590k shares, I believe that equates to just under 18p per Arix share.)
Now RNS'd by Arix:
https://www.lse.co.uk/rns/ARIX/portfolio-company-disc-medicine-presents-positive-initial-data-from-phase-2-beacon-trial-at-eha-tp9wgpukofwwj67.html
Disc SP goes up 10%, which should equate to ARIX up ~1.5p. But no, ARIX goes down :-(
Hi skid35, no I'm not in RTW, their discount to NAV isn't ridiculous enough - only ~29% vs ARIX ~43%. There's also currency conversion costs.
Just to add, assuming Arix still hold 590,000 Disc shares (which they did at the end of last year) then those are worth ~14p per Arix share today if I've calculated correctly.
Ridiculous.
I think time for a top buy and hold.
Anyone here in RTW, a bit in the same pot?
RNS not showing on LSE yet for some reason.
https://www.londonstockexchange.com/news-article/ARIX/unaudited-nav-for-may-2023/15992164
NAV on 31 May was £1.80/share (of which ~80p cash, ~47p listed PF, ~51p unlisted PF).
Another month, and another ~30% :-)
Disc seems to be doing pretty well - SP up ~50% in the last month.
https://www.google.com/finance/quote/IRON:NASDAQ?window=1M
But my trade was a 'sell'!
..... BUT
This site showed 15 trades in Arix yesterday (02.03.23) all as 'buys'. One of the trades was mine: the number of shares and the price was spot-on; BUT
Simon does good research on the ball
Well, Simon Thompson thinks the cash is still £123.3 even after the Twelve Bio/Ensoma £7.2m financing.
SP up today following his perennial recommendation:
https://www.investorschronicle.co.uk/ideas/2023/02/09/bargain-shares-2023/
I think the cash reduction from November £130.0m to December £123.4m will have been due to the further Disc investment (30 Dec RNS). If that's right then the 5th Jan Ensoma financing ($9m = £7.3m) is yet to be deducted, which will leave ~£116m = 92p/share. (Do others agree?)
NAV per share was 178p so current discount is about 40%. If taking out the cash element of NAV, which amounts to 95p/sh, the non-cash elements account for another 82p per share. Yet the share price is only 10p above the cash element. Does this suggest maybe a significant cash burn is anticipated?
NAV finally out and discount is eye wateringly huge. At some point I might even make a profit
No December NAV yet? A monthly NAV that's a month out of date is not much use to anyone.
Contrast with IBT - they update theirs DAILY on their homepage:
https://ibtplc.com
Even better, HL picks it up and charts it:
https://www.hl.co.uk/shares/shares-search-results/i/international-biotechnology-trst-ord-25p
Too much to ask? Weekly maybe? (BTW I'm not a day-trader - holder since 2019.)
good value here now for the Brave