Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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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.
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.