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pawnsacrifice
The first building is 480m2..and the second looks like it is planned to be 15,720m2 ...so that one will be massive compared to this first one...looks amazing...
pawnsacrifice
The 10% Corporation Tax in Malta attracts companies there....
Rishi Sunak better be careful..they want him to increase the UK Corporation Tax but...with the likes of some of the other countries within the EU offering a lot less....more may head that way
that site they are on has quite a few other pharmaceutical companies and others too
re the 2 buildings.. they've received a $5m cash grant which only pays for 80% of the facility so not too small for the first facility Sure they'll be able to produce commercial quantities with that investment?
Maybe they'll get a larger grant to keep them in country. The way the eu countries have fought over the vaccine I wouldn't be surprised.
Do think they're correct and that the initial plant mid year will add significantly to revenue and sentiment.
$5 million cash grant to establish ArtemiCTM production in Malta
MGC Pharma has qualified for the support for a non-dilutive cash grant and has started to receive the ~$5 million (€3.07 million) from Malta Enterprise to renovate and extend the Group 's existing Clinical Research Organisation (CRO) facility in Malta to include a fully functioning GMP certified manufacturing facility for liquid dose form and its COVID-19 anti-inflammatory product, ArtemiCTM.
Construction of new facility commenced during the December quarter and will be completed in mid-2021. Upon completion of the facility, the Group will be in a strong position to immediately increase ArtemiCTM production volumes and reduce logistics costs via the Malta facility due to its optimal geographic location and shipping access.
Thanks Poker, not seen the plans for it yet but will go and check it out
pawnsacrifice
sure..there will be TWO buildings....the first one smaller , the second one much,much bigger
MJTTrading
Well part of the agreement is that they have to invest a minimum of 6 million Euros into the site ....did you see the main plans for the bigger building?..
Looks impressive and big ..going to be some serious investment and a serious production unit ...looks good
They have a fully functioning plant being built in Malta now which will add to sales mid year. Sure they'll be fine for funds in 2022. lol
"During the period, the Group signed a contract with BioPharmax to complete construction on a fully functioning GMP certified manufacturing facility in Malta for liquid dose form product and the anti-inflammatory product, ArtemiCTM. Construction of the facility, in progress at 31 December 2020, is 80% funded by way of grant from Malta Enterprises (refer to note 7)."
"During the half-year, the Group received approval for a grant from Malta Enterprises to cover 80% of the construction costs of a production facility, to the value of €3,073,000 ($4,925,000). As at 31 December, an amount of $1,421,337 had been received from Malta Enterprise. In accordance with AASB 120, the grant will be recognised as income on a systematic basis over the useful life of the building once completed. Under the conditions of the grant, the Group is to complete construction of the facility within 6 months of 10 December 2020 and, should the Group cease operations in Malta within five years from the start of operations, Malta Enterprises retains the right to take possession of assets funded through the grant."
Got ya, yes I agree also
Poker, that could be in the form of a non-dilutive grant though, couldn't it?
Low of 4.72 Wednesday
Low of 4.85 today
Hopefully that’s are floor with a slight uptrend
I expect it form a wedge a somepoint break out of that then eventually test the 9.2 highs at least where all the ******s bought in lol
It could take days, weeks or months but I’d surprised if we haven’t moved up considerably come 3 month time
I like look of that chart
Tigersmash
No..I agree ..the phase trial results that are due in June will be a boost..sure.....and distribution news etc...sure...
but...for the whole plan to come together and the main plant to be built..they will need more funds.....but..sure...that is for 2022-23 I suspect
Pokerchips you make it sound like we will be stuck at this level for years lol
The stock price will grow along with the company. More news and catalysts coming this year. Judt need to be patient and we will slowly be moving up.
Down 8.33% yesterday on the AUX ...so down 8% in the follow up in London...
Down,Up,Down......you are going to have to get used to it..I suspect......
They have potential...but there is a long way to go.....a lot of patient trials to get through ..with the food supplement sales moving things forward
The main production building in Malta isn't due to be online until mid 2024 and needs c.£10m from somewhere..so..if you are buying for the "long term"....be mindful they will "probably" have more fund raises in 2022-23
Patience might be the way with this
There will be spikes along the way , a guaranteed way to lose money if you chase the herd
Very few will make money and get out
But many will be left holding the baby
This is a long term play
Sit in for 2 years and see where it goes
Thought we might of peaked back up to the 6s over the last 24hrs. Another day of falling prices, hopefully we see some positive movement next week.