Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Trolling at 250 and expecting to make money is the equivalent of a man utd fan turning up to watch them play a good team at old trafford and expecting them to win. It will always end in tears.
BYP, a worst case outcome of the dispute would not wipe out the companies cash position.
Firstly, it would crystallise the 17m tax rebate which would be added to 77m cash position (which itself was calculated after exceptional costs related to dispute were taken out). That would give the company a cash position of 94m. Even before any H2 cash is added.
Again, its unlikely that will be the outcome but its even more unlikely that they would have to pay it all in 1 go.
“Why don’t you focus your ire on the ‘rampers’ that were here Friday and gone by Monday? Perhaps they are the ones with ulterior motives whilst the rest of us just want to support our investment whilst everyone else trashes it?”
@harchris…..I intend to. Unfortunately those rampers are the same ones that everyone on here seem to believe. I mean someone literally tweeted a countdown of that ramp on Friday. Yet you all give them the thumbs up and let them continue. The real question is why didn’t the genuine holders and real long term holders of this share not shut those comments down on here.
@shelldonald
Glad you're paying attention.
Trouble
On your interpretation you you qualify for both on both counts I see
There is a list so long of things we would like inf on , pointless posting again , think DR made 7 points last night. I'd add meet all key staff and spend some time finding straight from the horses mouth exactly what stage each key product development is at , what regulatory approvals have been applied for and when , who else can assist with the LFT and getting it out to the market asap.
What about the decentralised testing , we need to be communicating with Biograd , Katalyst etc asap , does he prioritise the 10 min test over other R and D. I would say looking at DRB83 's list and thinking about what he has taken over I am pleased he hasn't made any big announcements. This will take him some time , he's been in situ a week. I do however agree that a hello would have been appropriate and should have happened. I am disappointed for another reason. I incorrectly assumed he would have been in situ prior to his start date and therefore ready to make decisions. It is quite apparent now after the AGM that this was not the case. This is no fault of D.A's so let those of us invested give the guy a chance. That is what we all would want in a new role.
BigYellowPig, you continue to troll this share. I take it you're short or have a speadbet open to the downside?
Why else would you spend so much time on the board?
@christoffer….thank you for your reply. My point was that the maximum risk is £89m as you say and for what it’s worth, I also don’t think that will happen but it’s a risk.
What the likelyhood is and the impact is not fully understood by anyone. So the market might be pricing that in, in its entirety. That would wipe out all cash and would certainly require a cash raise or taking on debt to pay for the large numbers of staff and overheads we now have as well as paying the remaining bonus payments. It’s also true that the absolute opposite could happen and DHSC pay all invoices along with interest. Both cases are the absolute extreme but it is clear that the market does not like uncertainty. That uncertainty is derived from the contract dispute, as well as uncertainty from future revenues from an uncertain market, being run by new management. The M&A cannot happen until the dispute is finalised. Anyone can say this is a low risk investment due to the current share price. However, when you look at the business risks as a whole, the risk is huge. Call it a deramp if you like, I call it being a realist. Why am I still invested? Because I am that far underwater the 5% sp movements each day does nothing to my whole loss.
So I might as well hope that the DHSC is resolved positively for Novacyt and then M&A and strategy direction can follow.
The original rns, stated they were more than confident that the result would be in their favour?
They have released nothing since, so the fact the Dhsc havent gone for 105% of whatever by now, means it is simply dragging out settling imo?
P.s the redacted contract is on the bidstats website here https://atamis-1928.cloudforce.com/sfc/p/#0O000000rwim/a/4J000000kEFW/0a.XEpAnsXhWLPDFwBk_JAjjG7TOqEVnG58sfxOiFmw
Hi Steve, that all comes down to the BODs determination. The possible but not probable scenario.
89m would be due in the possible scenario and the board have estimated replacement of goods at 19.8m iirc.
Of course there is another scenario where NCYT win, don't have to pay anything and claim additional damages because of the write down in stock they had to incur.
Be handy being able to read the contract. Did anyone ever keep a copy?
Hey ChrisToffer, Is it also not the case that the contract stated that goods returned under warranty could be replaced with new product.
This implies NO monetary refund at all. So if, worst case scenario, the case goes completely against NCYT the worst case would be 129-40m =89m. So £89m worth of product to be replaced at whatever that cost to NCYT would be (say £20m?)
@HarChris
Fully Agree
Arrogance is more dangerous than ignorance.
Ignorance is a lack of knowledge - arrogance is the refusal to obtain it.
Why should it have been resolved by now? If the company end up winning the dispute it will make a material difference long term and will have been worth it. You’re all acting like the novacyt story is over but they are still making good money and have enormous financials means to transform the company.
It’s a real shame that the ones supporting their investment are the ones being targeted now. I don’t throw out silly share price targets, I simply try to highlight the reasons why we are where we are and focus on where we will be with a little more time…
Whoops - getting personal.
You stupid boy.
Why don’t you focus your ire on the ‘rampers’ that were here Friday and gone by Monday? Perhaps they are the ones with ulterior motives whilst the rest of us just want to support our investment whilst everyone else trashes it?
BYP, "What are the current cash reserves today after the previous update (eg anyone know the monthly cash burn?)."
We can work this out from the guidance and expected EBIDTA & cash conversion. £100m revenue guidance at 40% EBIDTA, with 80% cash conversion is about 33% cash from sales. So with 100m 2021 sales - 53m H1 = 47m *.33 = around 15m cash. Add that to H1 and the 17m Tax rebate and we have about 110 year end cash. As long as sales remain on target im confident in these numbers.
As for the payback in the event of a full refund. Remember the DHSC have an outstanding invoice of 40m so the maximum payback would 129-40 = 89m and there is no way in my mind that they'd be expected to refund that in one go.
'do whatever it takes' !!
Might be O.K for afly by night company selling snake oil.
In the longer term, reputation, credibility and integrity are paramount and can be lost in seconds and never regained.
When BOD wanted our VOTES, there were Tweets and so on and now they got what they wanted, they couldn't be bothered to keep us informed. Serves us right, for giving our votes
Only GM mentioned mid cap status as far as I am aware. I think that was only mentioned in that supposed interview with ‘sharebuyers’. Personally, I don’t believe that interview ever happened. Why would GM say no to interviews from everyone else and yes to a recently created twitter handle with a very amateurish website full of poor grammar with punctuation mistakes!
My point is, if this company does want to become mid cap, it needs to renew that statement via the current board and more importantly the new CEO.
You’d do whatever it takes to resolve.
It’s probably already cost more in missed contracts / opportunities than sorting this in the early days.
Porky9
Why would you appoint someone to the highest office to communicate ffs that position needs far more than a communicator
Byp, as far as derampers go I will hand it to you that you are one of the better ones, except for when you resort to insults and defamatory comments. At least you write more than one line and on some points I can actually agree with you.
In terms of investing in ncyt today, if I had spare funds I would have no problem filling my boots here. You buy for potential. You buy because the fundamentals of the business far outweigh the SP and hence at some point in the future you will grow your funds. Ncyt potential is huge. We have gone over this multiple times.
Dispute is heavily factored in so on resolution I expect a sharp rerate.
We are building a US operation
We have a strong and growing base of q machines out there
We are in a huge industry which whilst it has been volatile due to uncertainty the post covid industry will be massive. We won't let another virus catch us out like this, that is for sure. At least that will be the plan. Ncyt will be centre of that infrastructure.
Great R&D
Great Bioinformatics
Great and vast product selection
Huge global reach
Huge cash pile
The list goes on and this is why I am buying when I can
The reasons I am frustrated at the moment is all around communication. Why don't ncyt communicate? Because they don't need to. They don't need anything from us. I wish they did. They see the PI investor base as a pain in the backside, never pleased. DA may have been brought in to kick start Comms with the II's because ncyt fully expect to be needing them pretty soon. Maybe a major acquisition is on the table. Who knows. It's all speculation but there is clearly a strong case for PI's to be buying at this price in particular. II's will come on board as soon as we set out the strategy and give a more detailed future guidance.
Just needs patience which for me is pretty thin today.
You can't make a good deal with a bad person.
Harchris
Pontificate all you like as I don’t think anyone thinks you or the other ever so clever rampers have any credibility left.
Any right minded company would resolve an issue with its biggest customer in a flash (regardless of who is right or wrong) take it on the chin and move on. Don’t let it destroy shareholder value of sentiment towards the company.
If the company wants to be mid cap it needs to start behaving like one.