The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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One point to note is that the investor is already committed to and approved the investment. The prospectus is to satisfy a requirement due to the size of the capital being issued, and not as part of the investors due diligence.
The main question is whether we will find out who the investor is and whether it might be significant enough to show what direction they are heading in with offtakes etc.
Been involved in investment negotiations personally of a considerable scale in oil and gas, as well witnessing other potential investments in other sectors. They almost never go to the timelines planned.
I'll be concerned re the investment if they rns they've withdrawn untill then it's another of bres making progress in my view.
Got this E mail response from MR overnight
"Sadly everything takes time and we’re not always in control of how long to get things done. Investor remains committed at that entry price, we’ll get this done. Meantime we continue to work on DFS using both our own cash plus DFC cash.."
Patience, patience...
Can’t imagine the Prospectus will be a problem as they are fairly routine. There are other companies that have had a similar delay and when Bres said February I did think even then that was quick. Still cheap entry/opportunity if you still believe this is the year for Bres.
I struggle to understand how they could have got the timeframe for the prospectus so wrong, even if the regulator is the delay do we really think the regulator has taken a whole month to respond to a document that really shouldn’t contain and surprises for them.
The 'investor relations' guy has said so but why not update the market about it with an RNS? - is it the time and cost of doing so? I suppose I'm just impatient, I'm also surprised that the 600 tonne bulk sample has only just arrived in China, they had it bagged up for shipping in December, everything seems to take longer than expected, talk about on a slow boat to China.
It is with the regulator so it is out of their hands.
In the current markets of the past 18-24 months - no news is as bad as negative news. It shows with all the positives this has going for it, the delay in prospectus is taking us down.
This ongoing silence is starting to make me feel uncomfortable, is it too much to expect some kind of an official update on the publication of the prospectus after being told it was anticipated in February?
Where did you get his email address?
Maybe against my better judgement, I've added 500k over the past 3 weeks. I'll be pausing until we have more clarity on the II and prospectus.
Love, not war.
I will have to write again to MR to try and tease out an explanation.
Sasha (investor relations guy) has stated the prospectus is with the regulator, this should be down to delays on their side rather than anything nefarious with the investment - but until it lands we won't know for sure of course
In my darkest moments, I fear that the II money hasn't been forthcoming, and that is the reason for the silence from MR.
It's the reason why timing is the most crucial thing with these companies. Mining, in particular drags on for infinity.
It really isn’t good enough from Mike and the team, first we have the annual report released without post period notes exposing us to market panic, now we have the prospectus they hoped to be out in February still not out as we enter April , when will these people realise the market is looking for excuses to penalise companies, and this type of mistake makes the BRES team look pretty naive. Time really for the investor relations to start upping the game.
We can all support the BRES team extending timescales in order to get the most from the landscape changing DFC interest but we can’t accept many more mistakes if they continue to drag the Shareprice down.
We are at the same level we were before the PFS was complete, before the DFC $5M grant and LOI, and the strategic investors taking shares at a premium,
Jangada sores by 79% on the news they take 10% of BRES and we have dropped 20%
Can anyone explain this market?
From what I can see the market sent BRES a clear message today, it’s not enough to say you will deliver on a certain timescale you clearly have to do so, the fact the prospectus is delayed the news of the strategic investor actually stumping up the cash not being made clear, doesn’t ride well in the current climate MR and co can’t sit back on their laurels and assume the Shareprice will take care of itself, they need to have one eye on the market optics at all times.
If they allow the MCAP to drift much lower we are at great risk of being taken out at a bargain basement price, after 4 years of supporting BRES I for one wouldn’t be a happy Chappy if that was to happen
The UK market is screwed, the sooner Mike realises that the better, he needs to up the comms to the market to match those he’s clearly making in back rooms with funds and potential partners
Feck happened today.
Bought circa £2400 worth at 4.20p in the morning thinking it's a bargain and I logged in now and see a heap of buys at 4p and 12% down.....
Back into the 3s who would have thought it but no surprise given the lack of news and continued manipulation of the sp.
Is there any wonder many investors have left the markets by the droves.
The big fall today doesn't bode well.
I get the feeling that Mike needs to be a little more proactive, how long can the regulator take to review a prospectus, there shouldn't really be anything of a surprise in it should there. These 100K block share every day also isn't a good look either, i'm sure Mike and Co have it under control but the current market can't simply just ignored and left to fester, even if they aren't in the need of cash just at the moment
I reckon MR does need to update the market about this, I have a lot of time for MR but this isn't good enough. Poor communication here.
Where is the prospectus and investor at 5p, a month overdue when told news end of February by Mike in last RNS. Absolute joke, maybe one of the paid for shills can shed some insider light.