Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video 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.
What detail do you want? They went to the market and said they wanted to raise. The market said certainly sir, please bend over and relax, this won’t hurt a bit. The detail is in the video with Paul Hill, the funds wouldn’t stump up without that level of discount and because Tony and Alan don’t know how calendars work it was left too late to do anything else.
It’s done. The money is in the bank. We were told yesterday it should see us through to 2026 - although that assumes that Tony can add up, so maybe it’ll only last until ‘mid summer’.. They have at least a year to do a deal or extract cash from Dx. The huge potential beyond that is still there.
Seems like my view that CC neds to get the skeletons out of the cupboard and have a clean sweep has much support? The first item is why a 50p placing. If she doesn't get this out in the open she'll just be carrying on where AS left off - and lofty words about 'communication' will be solely that. I repeat - I want her to be the great success I know she can be - but she needs to clear out the dead wood / dross on the BoD - CFO first - then 'kitchen-sink' the dirty washing. The clock is now ticking in this regard - her honeymoon period will not last long.
I think now AS has fallen on his sword that a new broom will sweep everything out into the open and we will be informed of why /how funding details perhaps not into finite detail as this could be counter productive but confident that AS Will get his big paycheck for services given.
my worry is that i now think that the days of suggesting £10 plus a share are long gone ,but definetly multiples of current mcap may be attainable in not to long a time period
Gosushi get over it its 6 week ago focus on the future either buy hold or sell
I actually agree with Notrex
All the board is culpable and I also think the CFO is more than most. Reasons for raising at 50p need to be explained. Otherwise there is not trust from investors. Why were we told “don’t worry about funding”and then a raise at 50p. Why were we told no information would be supplied re this matter until after 40 days and still no information. Does the board think that it is ok for PI to be lied to and deceived?
Just because time has passed doesn’t mean PI’s have forgotten this matter.
Dr Andy Sujood. Legend. Look him up.
Like just not answering questions such as exactly how long is a 'significantly extended' cash runway ICE?
Or what does 'into Phase 2' mean. If they're saying it'll start in late 2024 I guess it means until: late 2024?
So 9 months?
That'd fit with the likely timeframe to spend the cash raised recently although as I said the Phase 2 will cost considerably more as it'll need lots more patients and in the USA too. So probably they'd like to raise the funds to complete this before they start, indeed It might be a requirement of receiving the FDA OK?
It'll be an interesting 6 months.
Potash!
Yep, Thorn has zero credibility. His posts can be safely ignored.
He should read up more and post less.
Putting a ? mark after everything is classic smoke and mirror fud spreading, thanks for the discussion tonight though. Totally proved all my points. So greatly appreciated. 😊😊 keep the fud up, it’s highly entertaining. Especially when you get owned by the RNS’s you obviously don’t bother to read. 🥱😝👍
No I'm asking questions and not spouting assumptions and prejudices dressed as facts knot.
That's the job of the stool dwellers.
Great to see you are ignoring the RNS and just ranting about more hypothetical BS. Totally proved my point earlier. 💯💯👍👍
'significantly extend' and 'into Phase 2' (not complete then?)
Good to see that CC is starting off with euphemistic language too.
Can you tell me what 'significantly extend' means ICE because it's talk like this and the easy assumptions that follow that led to the recent 50p raise.
I was similarly picky about their language early on in the Phase 1 trial and got a fair amount of abuse for it too.
And yet here we are all those months (years!) later at 45p and falling.
Thanks for the reply, Eliot seems pivotal in all of this, there’s a trail that seems to often lead back to his door. I look forward to the evolution of Avacta from a research company to a clinical stage biotech. I guess the staff changes and rough lessons are all part of and sometimes essential parts of the journey.
But thornogson your still a 🤡
Today's presentation made it clear that the platform works and it's dox that's only failing for indications where it's not suitable as should be expected. That clearly suggests they're switching the pipeline towards the most potent of warheads and looking to demonstrate the advantages over ADCs. Perhaps ava3996, given it's further down the line might be something they can license sooner rather than later. Personally I'm comfortable with slow and steady, batten down the hatches, get ava6k to the market and use that cash to accelerate. At some point it'll steamroll. Pleased to see them talking about Dx generating cash to help fund Tx - that was one of my questions. It was great to see that their emerging strategy is being led by the data and the proving up of the platform. As mentioned on the webinar the pathfinder has been a success.
Tornoson your master will be proud with your efforts
Sitting comfortably on your bar stool are we Thorn ?
🤣🤣 another example of hypotheticals without any substance to back it up. Check the RNS statement below 👇
The fundraise completed post-period end in March 2024 amounting to £31.1 million (gross proceeds) from new and existing institutional and private shareholders has enabled us to significantly extend the Group's cash runway, creating a strong negotiating position in future commercial discussions and providing the funds to progress AVA6000 into Phase 2 clinical trials, subject to FDA approval.
Keep the lights on 🤣🤣🤦♂️🤦♂️. You need to change your tag here constantly found out. It’s embarrassing.
My posts are based on information taken from the RNS’s. The evidence so far suggests it works argue against that scientifically if you want! And the FDA will make a decision, I think it will be good based on the data. Everything I say is based on my opinion backed up by factual assumptions from the data in the RNS. You on the other hand through out statements like the below.
“They raised just about enough to keep the lights on”
Today’s RNS suggests otherwise just calling out your BS.
I think, for what it’s worth, change was necessary and as Eliot intimated further additions are already in motion. I believe I know the next name in the frame and if correct he will bring a wealth of commercial experience and ‘gravitas’ to the management of Avacta. On one side we have what is now being continuously confirmed as a game changing technology platform. With the sp at these levels the joke is on us. We now need a deal making commercial team who can maximise the opportunity to big pharma sector AND a commercial team who understands the global funding opportunities that we will begin to have.
There is never any talk about the brain behind AVA6000. Maybe a silly question but who is it?
If your posts were based on facts ICE then fair enough.
But just saying it works, it'll get signed off by the FDA and we'll all be rich (at some ill defined point in the future) isn't fact based, it's your opinion.
Not arguing with you tonight read the RNS.
My posts aren’t designed for the day to day trading movement of Avacta. That post below was the perfect example of BS assumptions trying to confuse things. Totally ignoring the fact our BD in commercial discussions and they can now leverage deals based on current data. Fully funded as per RNS and costs can be adjusted with other programs not necessarily AVA6000. Thorn loves smoke and mirrors, not even invested yet has the audacity to tell me to stop posting I will politely decline. 😉👍
Thanks for the insight Soleboy. Do you feel sympathy for AS and Avacta for this? Or do you think they were naive and should have been wise to these shenanigans? And following on from those questions in your opinion was the change at the top necessary and will it improve fundraising in the future?
Selling, general and administrative expenses
Administrative expenses have increased during the year to £16.86 million (2022: £11.23 million). This reflects a full year of Launch Diagnostics, £6.89 million, and the acquisition of Coris, £1.13 million.