If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them 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.
Quite a few going through
Are they deliberately holding this back
Mom let’s all stop talking about placing and wait on the update from the board meeting got to keep thinking positively
'a chit load'
Stinking news is bad news = bad for share price. More warnings from the Uber-Ramper.
Not before a chit load of news all due.
'next few months'?
That seems a tacit admission that punters should expect a placing in the Autumn... When PM shows signs of smelling the roses then the average punter should feel the thunder of an incoming placing.
Or should I say they are raising about 4 times the amount of cash that Valirx may need in the next one at roughly the same market cap. Therefore more discounts for more shares that are issued.
Depends how much you need to raise and what the market cap is. GDR burns lots of cash although they have a product. On the other hand if Valirx can get a decent share price in the next few months then relative to the market it will be inconsequential.
Porky keeps banging on about a penny placing... GDR just did a placing swerve at 57% discount. These massive discounts are becoming regular in small biotechs that cannot attract attention from a Global Corp.
Ah Groomer , Glad to have cleared that up for you. Have a lovely day at the moment as I say still watching and waiting here
Ahhhh so you’ve made money trading it… of course you have…
But from our side you just seem really annoyed that you got ramped in at 32p+ And lost money.
Will leave you to it. Enjoy.
As a trader I have done well on this share that is very different to posting multiple times that topping up at 30p++ is a no brainier with no down side and watched it fall to just over 3p while continuing to verbally abuse posters with an opposing viewpoint. As I have posted I am watching and waiting again… along time now….. again clearly the correct decision.
Not being funny westcountrybro if your going to take the Micky out of investors you best check your own post history .
WESTCCOUNTRYBO
Posted in: VAL
Posts: 1,621
Price: 32.25
No Opinion
RE: LOI 2.11.21 RNS says the same thing as this SIGNED agreement5 Jan 2022 09:28
Good Morning Novice, Happy New Year to you. As the saying goes…. The price is right… bought back in this morning…….. GLA)
Can’t exactly comment on pm2022 comments about 30p+ no brainier when you was buying at 32p+
WCB, Learn to read first as it is clear I was talking about Porky on this occasion.
I am glad you are still here. Clearly you see plenty of value here. You probably have nothing to do other than post on a stock you are not invested in during your retired days.
Enjoy your day and stop obsessing over me.
PM2022
Posts: 2,861
Price: 3.10
Strong Buy
RE: True Enterprise Value (EV)Today 09:37
Nobody asked you to comment. I don't like to waste time with online trolls as they are the lowest of lows. You would not be so big in real life.
ReplyRecommendReport Post
So you do read all the posts then …. You are a funny little chap🤡🤡
Very sensible PM....ignore him.
I have not bothered to read posts as it will just tempt me to respond to nonsense.
We have gone past the stage of deramping to get in cheaper because if the share price drops more they will only be able to raise a lower amount of money which then means you will be hit with another placing soon after. Ideally we want this to be at least 10p so if they did another placing next year it will be the last one given how many compounds we would have at a decent stage by then.
Knowing Porky he does not understand this concept.
Wish you were wrong Porky but this all seems pretty spot on to me. Would be good to have some kind of update from them.
MCap was previously £2.25m in April 21 at the last restructure. Back then the business was far better positioned and had a more manageable cash burn < £1.5m p.a. They will soon be out of cash again and need your support. Mcap now is bloated at £ 4.2m but market conditions have changed materially in that time. The business now has more shares in issue, still never invoiced a thing in15 years and to put this into perspective even using the April 21 valuation that’s an SP of about 1.5p.
But no matter which way I cut this I can’t even get back to the previous valuation because put simply: where is the value here now?
1. 201 is going nowhere, neglected, and likely superseded, 15 years old and needs reformulating and new patents, the BODs managing of this asset has been a total disaster, still locked in with a worthless agreement with a stateside start up. Meanwhile, 301 off same tech is also doing zero. The new BOD need to come clean with investors, drop THX and put the work and investment in to try and reposition it and connect with a well funded biotech, either that or cut losses and close it down – Valuation Minimal.
2. 18mths ago they should have added more evaluations to ensure more pipeline coming through. By neglecting this area of this business in favour of the labs they now have next to nothing in progress. A total failure IMO and needs the pipeline rebuilding which will take time.
3. 401 was moved to another start up trying to get funding for itself to survive being a Phoenix business so little chance of any value there in next 12 months IMO again Valuation Minimal.
4. CLX - this one has potential value. It needs at least another year development and £400k more investment to try and position it. So, Jam tomorrow for 2025 but won’t be contributing to keep VAL alive short term – Valuation I put at £1m top side.
5. Labs - what a farce, zero paying customers, decision to buy cell samples sitting in freezers from Imogen that couldn't make its business viable even with 32 staff at its height and the current BOD want to chuck more of your cash at it. I put lab assets at £500k top side if they could find a buyer. The lab business itself has ZERO value as it stands as it has no business, is incredibly labour intensive and IMO a total liability until it can break even.
So in all, I calculate about £1.5m of assets and a cash burn requirement of £2.5m to feed directors to maintain lifestyles hence why I can't an EV even anything remotely close to where it is today or was previously.
With a new BOD and a penny raise if they can get it, this remains high risk investment. They are certainly in a worse place than before and a heck of a lot of work will be required to turn this around now, that’s If Adrian pulls it off and can secure the support and financial backing to do so.
If he can’t, it’s the end of the line IMO once the cash runs out in a few weeks time. I genuinely think its touch and go now.
@PM2022
Are you still at it in total denial about the next funding round?
Not sure where you get this BS from about the cash runway to 2025. Prior to these four additions to the BOD the cash runway was scheduled to last at BEST until about the end of Sept 24 at the existing burn rate.
Now, with the new BOD still not finalised and the increased cost base with this caretaker board, the cash runway will run out sooner. My estimate is now sometime in August but either way my point is once the new board is established and in situ ready for H2 1/7/24 the new board won’t want to drive this business forward with just a few weeks cash left.
IMO they will need to raise and probably best to get all the bad news out at once, especially once it’s finally confirmed THX is a dead duck.
Watch this space £1.5m raise at 1p remains my call providing Suzy, Kevin and Gerry off the board - if they remain I can’t see anyone mad enough to invest for more of the same. The true enterprise value of this business as it stands IMO does not justify a higher placing price than 1p to deliver even the most adventurous investor a decent ROI potential.
Adrian really needs to pull his finger out now, offload the dead wood, get the new board in situ with new vision for end of June ready for H2. Get cash burn back to under £350k a quarter again to a more manageable level. The clock is ticking.
IF he can do that, there is a chance for this to be a recovery play later this year. In the meantime, the stock remains totally uninvestable.
Pork’s
I must also say it will make them all look very unprofessional if they were simply not trying. You cannot wipe out a bad reputation but at least if you left on a high you would have a selling point for future interviews and show how despite all the negative feelings you did your best and acted professionally which resulted in positive outcomes. That would really show a good character and would to some degree change feelings.
Is it in July we get the chance to vote on BOD members. It was projected that we have enough cash until the end of Q1 2025 so clearly no placing without news and at this time.
So the question is if by July no news is released then they would have conceded without trying as they get voted out with 0% support. But if they make a genuine effort including improving public communication which I suspect they will then they are needed and I am sure if Valirx goes back to at least 10p they will get support.
Therefore my conclusion is that we will see significant news shortly and I guess that is what they are waiting for. No de-listing unless it crashed from here because even if they raised 1 million is peanuts which they could last about 8 months with that after the next placing likely next year.
It really will not take much news to move this from the current market cap but the question is whether they want to move it or not.
Let's hope for transformational news
RNS - "To identify the appropriate candidate may take a number of months, during which period Dr Dilly will remain as Chief Executive Officer."
Clearly an attempt to buy Dilly time and ensure Cox, along with the rest of the underperformers, can continue drawing salaries.
It looks like a choice of;
1. Delisting.
2. A 1p raise.
3. Transformational news.
4. Admin.
Place yer bets!!
depends on whether they are looking at nibbling on what looks like a **** sandwich in disguise or not