Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Lol. I don't know about happily. Have you seen the SP lately?
So you are saying you’d have preferred an open market fund raise. Fair comment. But if you don’t like the way the business is being run then drop your shares and someone will no doubt happily come along and pick them up.
You can call it what you want but the bottom line is the number of shares in issue has increased by 10%.
At a 15% interest rate please don't try and paint Charles as some sort of white knight. He is getting his pound of flesh and then some.
Just issue the shares directly to the market next time.
Oh and just to be clear Gary, you didn’t tell me anything. It was obvious to anyone with their eyes open that more funds were going to be needed. I’ve always said that I expect there to be between 4-5bn shares in issues following a number of fund raises by the time we get to the stage of self funding.
@URAHoldings - This is not a fund raise.
Charles had given a loan and CLNs have been issued to cover part of the that loan. A further 2 other existing shareholder have invested a further £300k and in return they also get CLNs.
There remains a further £709k unsecured loan from Charles, which Charles has committed he will not call in until after Jan 2025. Without Charles we would already have seen a fund raise earlier this year to keep the operation running.
I’ve asked you this question before but you never answer. If not a fund raise or a loan from Charles how would you fund the business whilst it is still in development? No doubt you won’t respond because you have no alternative solution.
@gazzleberry - Here is my response but of course you won’t see it because you have filtered me. 🤣. Funny isn’t it that you don’t want to engage with me yet continue to post about me. Are you obsessed with me or something? 🤣
Another brutal fund raise. With 2 years till market and the rate of cash burn its difficult to see what will be left of the current shareholders. Well other than Charles that is.
For clarity, the deal to which Melissa refers is where Jazz Pharma bought GW in 2021, and yes it was for $7.2bn.
Website updated with a set of useful FAQ.
https://www.mrxmedical.com/
Great insight. Thank you!
Replying to PompeyMagnus: Both 'big farmer' and 'micro pharma' are high risk at this early stage of the industry's development. GW got their first licence to cultivate in 1998 and ended up doing clinical trials to build a company that got bought for $7.2bn. The went pharma and simply used their cultivation to provide the active ingredients for their licenced medicine. The cultivation/farming side of medical cannabis is the supply of an ingredient into a medicine, it isn't an end in itself. It is about 10% of the job of creating a medicine in flower or extracted oil format. The challenge of the 'farmer' model is that it is very difficult to differentiate the final product and so competition is on price (mainly). Going the 'pharma' model means we gather evidence for a formulation of cannabis oil and get it licensed by the MHRA. That means it can be on the list for prescribing on the NHS in large scale. Then we could look to cost advantages by growing our own flower for our own medicines (like GW has done). We have not looked to offshore markets as that has the same 'farmer' issues and as a UK PLC we have regulatory constraints about where we are allowed to do business in cannabis. Best, Melissa
That is Melissa, she's verified with LSE, and she's made 2 helpful posts, she's not having a public spat. The one doing that appears to be you, who has yet again gone Tasmanian Devil and started howling and throwing your weight around.
Nobody cares if you want to trade this, nobody. Our behaviour on the Telegram group was surly and miserable. You argued and fought at every turn as nd that's why you got short shrift. It was your own fault. Your tantrums here to save face won't wash.
The last RNS was never going to suit everyone but she has come here to try and explain politely and give holders a bit more explanation for the company's direction. And yes, the joke is one you because she is who she says she is.
And for absolute clarity and for the benefit of others, I do not have any type of relationship with Charles first name or otherwise. I have never messaged him, emailed or spoken to him.
I do however occasionally exchange emails with Jeremy, who answers questions that are posed in the ANA Telegram group. All done in correct consideration of MAR.
I find it quite interesting that for someone who purports to have filtered me because he doesn’t want to engage with me, still feels the need to comment that I have posted. 🤣
For the explanation. Some of us do appreciate it. Keep going and here's to the hopeful success of the clinical trials.
Thanks for posting to help clarify Melissa. Unfortunately the type of response you received there is typical of this platform.
For anyone who wants a wider and more informative conversation than can be found on LSE why not join our Telegram group. We currently have 75 members who post about the company and the wider med cann industry.
We listed ANA as an investing company which meant it was to make non controlling investments in other companies in the medical cannabis sector. When we purchased DJT and MRX it was to pursue a strategy to deliver cannabinoid medicines into the UK market. That is still our plan. The 'cannabis' sector has changed significantly since 2019 and we have adapted our strategy to address the changes we have seen. The key change is a move towards evidence to get licenced medicines. Margins are squeezed where there is no way to differentiate between medicines and so our view is that this evidence is key to success. Best, Melissa
We haven't ditched the growing and seed sales. The growing is paused until we see the market demand and margins robust enough to justify the next step of capex. All the data from two years of trial growing has been captured and is secure. We are planning to continue the seed programme in collaboration with a university so that we can reduce the cost of the programme now that we have refined and confirmed the breeding protocols. Best, Melissa
I’ve got mixed views. If the RCTs prove positive then the NHS will be onboard and investors will be a winner, but having ditched the growing and seed sales it leaves us as a one hit or fail which I’m not a huge fan of. To be honest I preferred the multiple chances to win.
No doubt the doomster and Mr Negative Gazzleberry will be claiming doom and gloom as his preferred way!
Disappointing RNS in my view. From big farmer to high risk micro pharma in a paragraph. What happened to all those tonnes of product they were going to grow. They don't even seem to have a drive to compete in the export market and try to tap into growth outside the UK. We're in the hands of a bottle of mrx and white coated academics now. Heaven help us. A company no longer master of its own destiny and a hostage to fortune.
Oh dear. And you call me emotional! I think you maybe need to take a look in the mirror.
I don’t think I’m twisting anything. You were the one who used the words ‘begging bowl’, which have a negative connotation, when referring to the potential need to raise funds. I just repeated your words and asked you what alternative funding you’d propose.
Yeh probably ha ha
I first invested in ANA as it said it wanted to produce 52 tonnes a year, within 5 years and could sell it to Israel, there was a good profit in this, but now they have stopped, no wonder the price is dropping
For some reason some of the formatting (capital letters, certain words starred out) hasn't copied across here in Part 3. In the RNS itself the formatting looks to be in order.