Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Good summary Trek.
Just looking back through the RNS’s
Placing for £30m 8th Dec at £7.90 no placings before that are listed here but obviously there would have been or an IPO since founding in 2014. 4D took over some other companies in the early years so would need cash.
Since then they listed 82349 shares as part of Biomar acquisition 8th April 2016
Then from the 8th Oct 2019 RNS, worth reading again. How close are we to....
“Under the terms of the agreement 4D's proprietary MicroRx® platform will be paired with MSD's expertise in the development and commercialisation of novel vaccines, to discover and develop LBPs as vaccines in up to three undisclosed indications. 4D has the right, subject to certain conditions, to cause MSD to purchase $5 million in ordinary shares in 4D during the first 12 months of the collaboration. In addition to an upfront cash payment, for each indication, 4D will be eligible to receive up to $347.5 million in option exercise and development and regulatory milestone payments, plus tiered royalties on annual net sales of any licensed products derived from the collaboration. MSD will be responsible for development, manufacturing and commercialisation following the exercise of any of its exclusive options.”
Then 18th Feb 2020 placing 4D met conditions to cause MSD to contribute $5m, a total of £22m raised.
Then £7.7m raised on 13th July 2020.
Hardly a habitual diluter on investors. But that said the mcap now is £40m. When you look at what has been raised and what has been achieved and yet aim has attributed hardly any value. Even if you look at the directors buys, significant sums around 90p!
This surely has to be bargain basement territory. It just seems that AIM lets a share price rise, pump and then it just pulls the rug from under it. Catching investors out, taking more money with false dawns as they average down. It’s a cruel market as the SP is not a reflection of our research or our view of value and that’s how us PI’s get done over.
The thing is though it does reach a bottom at some point and then if a couple of price inflections kick in, boom! You then can’t get back on the ladder or you sit an watch and think it will pull back, it doesn’t and then you can run the risk of being spiked.
I do think though stripping it back. If 4D does hit those triggers you can’t hide $347.5m. And there’s more than that. That is when true value will out.
Question is do you buy now or wait for 23p or 5p. Who knows. It could be that 35p is the last of it and it takes off from here. All I will say is we are close now and the directors who are underwater also put more in.
Even though I didn’t buy until after the Feb placing so am now underwater I’m pretty confident to hold here and trust this BoD to do their work. They’ve done pretty well so far but of course we are not at the end yet so jury is still out.
Trek
My understanding is that at the recent AGM a resolution was passed giving the directors the right to issue an aggregate £91,244 worth of ordinary shares , representing around a third of the issued share capital at that time, without the need to call an EGM.
Hence, if I read it correctly the ceiling on yesterday's placing/subscription was 36 million shares and they have placed a further 16.8 million shares, plus a further 5 milion subscription shares.
Next fundraising will be at 25p imo
Some of you really are dumb asses.
They could only rise 7M because they issued so many shares earlier in the FY. They would have needed to call a EGM
The mention of "February" does seem to be glaringly accurate, compared to both the wording of the rest of today's RNS and also to previous RNS' funding horizon indications, which does indeed suggest an "event" is foreseen by. or just before. then.
The amount raised while an odd figure (£7.7m), is however exactly the round number of 20% of the current shares in issue.
I do think we should have some clarity on US listing intentions too, in both seriousness and intended time-scales.
Those Directors paying out £500k is a great signal for me.
A US listing or could someone be about to make an offer and take them out. Those Directors see that a nice pay day is eventually forthcoming, but must keep it within the rules and be seen as well funded.
£7.7m was an odd sum to raise.
So do they know that the M team or someone else are after them?
Getting ready for a sudden sp jump. Just give it time for the dust to settle.
Lots of activity expected in the next month.
C.
That’s my thoughts Trek. This is a specific amount, for a specific project - a US listing would be the obvious reason. It’s strangely exciting which is not always the case with a placing. GLA
Well done and dusted. Plenty of appetite for them shares. Hopefully we see some buying on the open market.
Half a million quid from the directors on top of the 50p is some backing!
On the basis of the average of the two placings we may get back to the 40’s again pretty quickly. I’m still convinced we will have a 10-20% rise day soon. 131m shares is not a lot. Seen billions for Oiler’s with similar mcap.
Been thinking though that 7.7m is an odd number and February seemed a little specific. I have no doubt they could have raised 20m if needed. Just wondering if the directors are really confident that the next raise, if there is one, will be much higher or even we’d be sold. The ops update was very good so let’s hope we start to see those £millions of R&D reflected in the sp!
Trek
No
Will is shareholders get offered x amount of shares each as we Are already holding?
Sorry if I sound dumb!
Flipping heck pop out for ten minutes and we get an RNS....
I am surprised that they raised so early, I thought there was enough cash until Christmas. I don’t know if the covid trial has accelerated the cash burn. Having judged the timing wrong I am now obviously concerned that the next rise comes earlier. Remember they promised 2 clinical readouts from the Feb money, so as a plus we now get an extra two readouts for 7.7m
16.7% dilution is not a lot but it’s the cumulative effect. Operationally the RNS was an amazing read! These guys have really been on their game and moving at pace and the results look extremely encouraging and it’s well written.
Sure the bookbuild is done already we’ll get the RNS probably in an hour or so and the directors have put in even more money. Unfortunately though my resources don’t extend to buying anymore so now I, like many, am pretty stuck until the first penalty kick. It better be an open goal and they better not miss!
This was the other ray of hope to truly transform the SP in the short term... I’ll be happier if we see that first payment soon!
“The Directors believe that the Company's recent vaccines research collaboration and option to license agreement with MSD (the tradename of Merck & Co., Inc, Kenilworth, NJ USA) which, in addition to the $5 million invested in the Company by MSD (the tradename of Merck & Co., Inc, Kenilworth, NJ USA) as part of the February Fundraise, includes an upfront cash payment and, if exercised, the possibility of up to $347.5 million in option exercise and development and regulatory milestone payments for each of up to three indications (potentially totaling over $1.04 billion), and tiered royalties on annual net sales of any licensed products derived from the collaboration, is a validation of the strength of the Company's research and development capabilities.”
Trek
Braindump are you an ex DDDD employee?
You really are bitter Brain..
Pumping the SP ? Really ? Lol.
Maybe our seller has cleared up enough now and a nice rise could be around the corner..
GLE
SP will be under 35p next week for sure
Pays their big fat salaries for another 12 weeks.
Multiple shots on goal yeah ??
No primary bid offer for loyal shareholders. The BOD shame on you. Trying to pump the SP past few weeks while pushing a placing in the background
Make a line to apologise folks