Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Gkb47 all you seem to do on your account is moan like a wet fish. I am sure this particular acc is just for that. Stop being a moaner - you’ll feel much better in yourself.
Gkb47 - it seems you are deliberately trying to out a negative spin with regards to the 2 million capacity and pick holes. I suggest you listen to the QA again. Agency staff being on tap was a brilliant move on saving costs what with DHSC delaying things.
From the QA:
<<
Took the decision to use Semi-skilled staff via agencies for two reasons,
1. Too lesson the burden on administrative tasks given the number of staff they were bringing in.
2. Allows flexibility with numbers of the semi-skilled staff.
The demand on 2 mill capacity was dependant on DHSC.>>>
I for one am glad Omega didn’t spend money on recruiting perm staff when DHSC failed to live up to their timelines so this is on DHSC not Omega - have a good read of the QA.
Gkb47 - it seems you are deliberately trying to out a negative spin with ******s to the 2 million capacity and pick holes. I suggest you listen to the QA again. Agency staff being on tap was a brilliant move on saving costs what with DHSC delaying things.
From the QA:
<<
Took the decision to use Semi-skilled staff via agencies for two reasons,
1. Too lesson the burden on administrative tasks given the number of staff they were bringing in.
2. Allows flexibility with numbers of the semi-skilled staff.
The demand on 2 mill capacity was dependant on DHSC.>>>
I for one am glad Omega didn’t spend money on recruiting perm staff when DHSC failed to live up to their timelines so this is on DHSC not Omega - have a good read of the QA.
I have bought as low as 42p but as high as 82p and have an average in the 50's.
Whilst the delays are frustrating, the key share price drivers are likely to happen before the kids go back to school.
You have to ask why the govt are loaning more equipment to ODX...its not because they are going to pull the rug from under us...its because they know the skills we have and how we can support the UK diagnostics sector.
EU approval for self use due soon (end of July was expected - could be notified next week). FDA approval end of August into September (expected)...UK RTC approval for self use likely before the end of August....in time for the schools going back. Surely we must be stockpiling for this now.....
It would be great to start getting some momentum on positive news and an appreciating SP......
Have also bought at 46p and 53p looking to add more as you say bargain price shouldn't be for long will wait and see GLA
They do have the 2m capacity...and that was on time. They have not got confirmed orders as yet as the government need to sign off the relevant test.
Capacity and utilisation are 2 different things.
I have bought more today as 50p is a steal...I will continue to buy at these levels as and when I can...Colin bought at 53p last year so bargain basement imo.
Notice how he tries too hard the more of a plonker he looks. Then uses other logins and names to make it look like others agree with him, so funny. Get the lube ready guys.
TWatcher (Tom) - You’re being made to look like a right plonker - give up.
Better close them shorts Tom or the buy backs going to hurt alot. Anytime!
Q47: Will ODX make the Avacta AffiDx test for the U.K. Gov? And if so, how long would tech transfer take for this product?
Avacta is not one of the potential partner companies with a DHSC approved lateral flow antigen test that the DHSC has facilitated discussions with.
Whoever asked that, should ask another 6-7 identical questions changing the name of the test each time :)
Yawn
"Q73 - FDA approvals - were GDR part of the Radx fast track program and awarded $10m like our partner? Do GDR have high quality lateral flow test matching the requirement of FDA? Have GDR just been acquired by Gates?"
Hey, Maybe you should tell the CEO that, because clearly the inference from you is he had no idea about any of it when he said
"We aren’t providing guidance on the FDA EUA process as this isn’t a pre-determined fixed timescale or easy to predict."
Apologies: When they said
@OmegaDiagnostic
Apr 30
We fully expect, once we have The Department of Health and Social Care (DHSC)'s licensed test confirmation, to rapidly move towards full utilisation of our 2m tests per week capacity.
"Our 2M test per week capacity", not target, i assumed that is what they had, silly me !
@Okehurst1
Q47: Will ODX make the Avacta AffiDx test for the U.K. Gov? And if so, how long would tech transfer take for this product?
Avacta is not one of the potential partner companies with a DHSC approved lateral flow antigen test that the DHSC has facilitated discussions with.
TWatcher,
Please can you identify the comment from Colin re Avacta
I’ve missed that one, was it the last Q&A ?
Q78 - well yeah thats exactly what they have been saying - waiting for DHSC test - casetting and pouching in the meantime.
Q73 - FDA approvals - were GDR part of the Radx fast track program and awarded $10m like our partner? Do GDR have high quality lateral flow test matching the requirement of FDA? Have GDR just been acquired by Gates?
In answer to Q205 - As Colin King has said, the Visitect test once it gets self test approval would be available for future DHSC purchase
Q29 - The advantage of ODX strategy in having a diverse portfolio is they can flex capacity to demand. I dont think anyone has had high hopes for significant sales volumes in triple antibody test.
You are full of crap looking for holes to pick to suit your agenda.
Look at Tom trying his best bless him. Get them teeth fixed bud. Move along stop wasting your time.
@computer909, in defence of ODxX(did I just say that ?), where it says "Exploring options to achieve these levels of production", that related to the darker red areas of the chart, which relates to beyond 900K or so. I recall that being teased out in more detail in the audio at the time.
Q115. I think that's basically saying we are cassetting & pouching for Surescreen. Wasn't even a leading question really. I assume we'd invoice Surescreen? Didn't they receive 25m this month from Gov?
"Q78: Can you confirm if the manufacturing equipment that was provided by the DHSC if being utilized to the maximum to manufacture ODX related products or are we restricted to 1 million a week based on using our own equipment (ie are we not allowed to use the DHSC equipment until they have chosen a product to manufacture)
The UK Government equipment will be used to manufacture tests for the DHSC – not for the production of tests that we will sell to other third parties."
So whatever the % capacity is via the gov equipment, that currently idoing nothing.
Q73: How long will EUA take in America. GDR have been waiting over 18 months. Will this likely be a hurdle for ODX?
We aren’t providing guidance on the FDA EUA process as this isn’t a pre-determined fixed timescale or easy to predict.
Anyone on here telling you FDA approval is any day now is just feeding you unsubstantiated rubbish, CEO just made it clear they don't know and it isn't easy for them to predict. Some here find it very easy.
In answer to Q205.
The Mologic test was not chosen by the DHSC, and our VISITECT would need to complete self-test authorization before being available for the DHSC to consider.
The tone of that first part would indicate that the Mologic test is now totally dead in terms of its possibility of being the gov test.
Q29: Is Antibody Lateral Flow Test Visitect still existing product or was it dropped due to lack of commercial interest? Sometimes in your communication with shareholders company itself and Walbrook don’t even mention it anymore as a part of the product range.
With regards antibody test, we are focused on the UK-RTC product, initially this product was for the UK market and our Visitect for other markets, however as both tests are professional tests we didn’t want to compete against each other.
I'll leave it to the reader to determine where you heard it first that the tri-antibody test was dead (hint it was me).
Q89: Any updates on getting money from the antibody consortium for the order placed by the DHSC for the antibody test last year?
The outcome is dependent upon Abingdon Health’s discussions with DHSC and whilst there has been some progress made, it is difficult to give timeframes for payment at this time.
It's likely to be paid at some point, so that'll be extra into the revenue line at some stage.
Although asked about 10 different ways, the consistent reply was that they were not going to give current production levels, previous production levels, total production levels, amount of units in stockpile or margins. This is the same company that was happy to given an unconditional forward looking statement of"we'll deliver 2M lft per week in april"
I understand not revealing margins, that's far too much to give away to potential competitors, but for what is solely a manufacturing company not to give any historic figures of stuff manufactured is a bit weird.
Collin clearly had hopes of the gov contract then.... it said exploring options to achieve these targets. The equity raised would have made things very tight to fund it themselves. Simple fact is having the gov contract which enables them to produce any test is an excellent bit of business, with loaned equipment meaning less cash required to expand. In reality, because of the delay in self test approvals they haven't missed out on sales. Self test market is where the money will be made. This is why you don't see the visitect available for sale anywhere for professional use.
@MerchantBanker : Lets not forget that the 2M capacity target was on the cards in October 2020
https://www.investormeetcompany.com/investor/meeting/trading-update-investor-presentation-1/presentation
Before the DHSC contract was signed.
MCAP £97m - gov contract £374m for 50% of the capacity. Go figure it out
Computer - as Colin King explained, reaching 2m tests per week was dependant on the DHSC getting out of bed.
By all accounts the plug was pulled when all looked ready to move forward as the focus shifted to self test approvals rather than professional tests.
Omega have repurposed resource to cassetting and pouching and delayed resource through agency arrangements as explained by Colin. They have been through extensive reconfiguration and capex investment. They are ready. They have the resources to deliver significant volumes of tests as explained by Colin in a recent update.
"These are the bottlenecks, not the operations of the company which have gone to plan with scaling up capacity "
Not sure everything has "gone to plan", in April we were told we would be producing 2M tests a week, now we have confirmation that they haven't even reached that figure for available capacity and its still a target we are working towards