Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hardly worth the cost of publication!
Https://www.lse.co.uk/rns/CIZ/holdings-in-company-225hfcfo7b5a6a5.html
Should drop before the end of next week?
2 Apr 24 RNS: 'Cizzle will receive an up-front payment of US$100,000 within 30 days as a non-refundable fee to grant BIO an exclusive negotiating period of 120 days'
I understand that receipt of the $100k fee will be announced by the co.
I have also noted that the increase in shares in issue following the placing means that some holders may drop below the incremental 1% thresholds, which should trigger TR1 report.
At present the company have received no notices from affected holders, but as soon as the registrar issues the updated scheduled register to the company, the website should be updated to reflect any changes if any.
Neil
FAO Neil and Lovelyboy.
Fundraising:
The fact that existing and new investors have the confidence @2p is a good sign.
Neil, I would have thought , being a high value investor, that you were asked by Broker to take part in this? (That's usually the case)
But taking that logic, existing investors are already convinced - so would naturally take up the offer (although a better deal may have been out on the open market)
I am taking it that's some new investors did see long-term benefits here and maybe were privy to more data/assurances.
However - the pattern of selling beforehand suggests people knew of this fundraise - and were either forward selling or selling presently held stock, knowing the fundraise was coming.
Is that confidence? And is there a TR1? Maybe no one has tripped the threshold.
Still seems that , with the exception of those on this board, only Mr Lang has bought big.
To restate , I think on balance the fundraise was a positive indicator.
However, inter alia , the shock raise was one of several reasons I'm less than convinced by AS and unhappy with their public announcements.
The 120 day "negotiating" period is open to interpretation both to the positive and negative.
I've taken a good 4/5 of my money out. Will definitely be leaving some in, but before investing more I'm going to wait until this MOU turns into a hard contract.
Cheers all, TT
Further to the conversation, even though the wording in the last RNS may suggest not, I do wonder whether the 120-day negotiating period is a deliberate timeframe chosen by those in the US. Is it inside this period that they believe the core data and results of our first commercial test in a clinical trial setting will be determined?
I don't see the test performing badly compared to preliminary data by the way and I'm sure those in the US don't and are privy to such info in the routine research etc that Cizzle do, but as you would expect they would need a period as to which back out of any agreements in a worse case scenario.
Very confident going forward here.
Evening LB great to hear from you again.
Thanks for the reply. That is exactly the way i saw it, but wanted to see if anyone else perceived it that way.
As your reply, my thoughts were that maybe they wanted to keep the investment more "in house" with existing investors. The "new investors" could possibly be already known/connected in some way, which would go someway (in my mind at least) to keeping more close ties, rather than just an investment fund.
Either way, they clearly, saw or were aware of something that gave them the confidence to invest. Particularly as the placing was not underwritten - they didn't require an underwriter, as they already knew they had takers for the shares.
I agree, i think the cancellation of E3 will take place, because if MOU is converted to binding contract, then by the end of July - only 3 months away - we will have just under $1million ( save for expenses) so no need at this stage for further funding. Coupled with that is the reduction in costs of approx half a million $ with BIO picking up the bill for the development/accreditation /manufacture etc, i think we are in a really good position.
Neil
@neilin
Equity vs debt. Made up from existing and new investors. Shows confidence if you ask me. These folk were presumably party to something that made them willingly slide cash across the table. Personally I read it as a positive and prefer it.
Brokers happy to be paid in shares also sounds positive.
BTW the E3 loan cancellation is 'intended' not definite. Highly likely though. Can't see they'll need it.
Also speaking personally (re the other RNS) the forward development cost funding via ciz bio US is a big plus in my mind. This "mou" funding, for want of a better word, if it actually happens puts ciz in a good place and extends the cash runway.
All in my opinion.
ATB LB
I have a question for those that are not happy with the cancelling of the E3 funding -
Apart from the obvious issue about the BOD not giving us any reason, or other information regarding this, what is it that you are not happy about?
Genuine question, as i would be interested to know people's perception and / or concerns of the placing.
Neil
Bufflehead - Interactive Investor.
I was trying for ages to get rid of small amounts.
I stopped when they dropped the bid to about 1.6p.
Actually I ended up selling a few more than I anticipated! Trigger finger
No need for any apologies anyone.. just making the point that the poor comms leads to assumptions ..
I hope the company ups it's game with RNS'.
I would have liked more of an explanation for why they did the fundraise instead of the drawdown, and I would have liked to see CDT shares sold to maintain sentiment and momentum.
Pretty sure the MMs will hang it above 2p at some point to facilitate the fundraising traders. Long term..who knows?
Certainly not me, and that's why I've reduced dramatically the last few weeks.
Will see how things unfold -we need more frequent updates from the BOD. That six month blackout followed by two kicks in the teeth was not good.
Great price to buy in and won't last....
Any more?
Hope this continues through the day…
A flurry of buys before the price changes….
One day it will just take off, looking forward to a break of 2p to get it started
Price is a bargain I agree but if its lower tomorrow and next week why buy now ? Planiing to double my holding once the MOU done and funds received. This will come good as the Science works. Could be the best early lung cancer detection test yet, however without sales and US adopting tests it will be worth nothing.
Needs a little promotion to get it started.
I can sell 2-700K at 1.6380 with 800K dropping to 1.60 on Barclays. Tech did well to get all sold at 1.70 Which broker ? Daily movements are only lower until news in my view. May be wrong, as I was earlier.
Hey TT, here is my mea culpa for you! I was wrong! Assuming they were your sells…
Anyway, lowers the price for others.
Totally Wrong on sells today. Apologies. 260K shares sold and 5% drop of £6 Million Co value. Ha Ha.
I want communications with media as soon as the Lab developed test is released with data. Whether in 6 months or 12 months time. That will enable public to buy CIZ shares and share in the rewards. Not just benefit Lung cancer patients and oncologists.
I agree, we just assumed that thing where progressing nicely during the 6 month black out.
The next news too then be a placing was a kick in the teeth. Need too up their game massively in the comms department.
The people who took part in placing will not buy to lower their averages. They know the timetable and a 15% drop in SP in a month on illiquid share, is not worth the worry. Once Lab developed test has been validated and data on accuracy released a few hundred percent rise is possible. AS needs to be doing interviews then.Sky, BBC and ITN and Press. If he fails on that, he is not performing any PR for a unique opportunity in UK Bio tech.
How everyone is really in the dark here. How PIs assume and things are "obvious".
Would you ever admit to being totally wrong?
So all those tricks and market maker obvious tactics this morning..
I can tell you for a FACT that all those 7/8 small trades that brought the price down were MINE!
I wanted to sell £3,000 and was surprised to see it go NT to sell almost immediately after first 100,000.
I just wanted some money out nothing more.
But just shows our assumptions on here are wrong many times.
On the other note, Ciz definitely should RNS the 100,000k incoming.
But will they?
The only reason I've reduced is this lack of communication and trust. There's nothing immediately bad I've heard, I'm just not very comfortable with the BOD anymore.
Can buy well below the Placing price of 2p just 3 weeks ago. Pretty tempting risk v reward trade/investment....