Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Add DEST to that list - it was like open season yesterday !
Mind you we are up 6% on the Nas today - nothing too much to celebrate , but feels like maybe they are getting ready to blow the tanks and get this submarine off the seabed .
New date for AGM in April now Fri April 5th ( instead of March22nd)
I'm no expert , but I assume they need to pass something at AGM to enable a rights issue ( should it be required - it was only an option they wanted to enable should they need it )
Handy for me anyway - as we'll be into the new tax year and I can set some more in my Isa should that occur .
A good month away - so who knows what may happen in between .
It’s like snipers alley.
GDR bang …… gone
COPL bang …… dead as a dodo
FARN bang …… on life support
AVCT bang ……. CPR needed
So when is the rights issue expected to be announced?
So we will have an update and briefing followed by Q&A on the 14th March , followed by the AGM just over a week later on the 22nd .
Glad they will have a briefing from Markku too , along with analyst Q&A , and James O Brien will be there too .
Whether we will ever get to know the full story of how this situation unfolded or not , who knows ?
But either way , its reassuring that we will get some answers , along with how they have best planned to get Bex to market , and bring value back to the company and shareholders .
Thanks Sax. Yeah I don’t feel like we will get progress update until Faron get their house in order.
I was hoping for some clarity by now but the way goes on…..
Yeah at least for now the sp has stopped bleeding heavily!
The only tip I can give you , and its hard to follow when you think you are gonna miss out , but top up in two or three amounts , giving a few days between buys . I actually followed my own advice this time and got two buys in the 120s . Will it drop lower - who knows . It seems to have settled , and I'm not expecting much more news now until something is resolved . Any clinical update coming out now would seem somewhat inappropriate ( but who knows ) . Anyway , Good luck Santhi . At least we haven't had an influx of trolls and doom mongers here . It is what it is - and we await news .
Trying to decide when is the right time to average down. Last time I tried this it was at 190 and then the next dropped another 30% 🙄
Hardly a major sale ( less than 1% of his holding - 0.93% of 13,410,336 )
He's been a rock right through thick and thin .
Despite the last few weeks shenanigans , we mustn't lose sight of where we are actually at with Bex .
Once this financial hiccup is sorted - the company can furnish us with the latest Bexmab update , which everyone must assume is going to be a cracker .
There was no RNS about it,but after Share Issue there is noticed how many new shares he got.
Would there be a holdings RNS if he sold in Helsinki?
Look at Farons homepage shareholder september 2023,he sold about 125000 shares in Helsinki then,something in LSE maybe too.
I don’t remember seeing a holdings RNS that confirmed that?
Before last share issue Timo sold shares and bought back in issue.
-Timo is selling this 10000 in LSE?
Sax has certainly helped Avacta by highlighting the ridiculous fall in its share price.
Always knowledgeable and explains his rationale.
Let’s hope Faron sorts itself out.
Sax you have been a stalwart here and your level headed logical postings have been a breath of fresh air. Apologies for my “indigestion” jibe - an attempt to lighten the mood. GLA
Thanks Sax. I was so confident in the company and trusted Marku and the team. Now I’m left wondering if I’ve made another bad investment decision.
Will be a tough few days just waiting for more information. Good luck to all here
As a side note - look at Avacta - massive potential . Last science day SP was at £1.50 ish . Yesterday 77p . Nothing has changed - they are still making progress -no financial issues - but they are under short attacks , and full on campaign to lower SP . They do have a very large number of PI holders , and for some reason there is the ability in the shady corners of the market to create these situations . But loyal holders will maybe try and trade a bit themselves , buy the dips and wait for the return to form , as they know the company will be worth at lot more than 77p . Likewise here . Good luck . We've had it easy compared to some shares . I wish them well . Poor old shareholders certainly getting a kicking all over the market at the moment .
Hi Santhi . Yes I'm here ( just been on a 3 day walking holiday) . Plenty of time to chew things over in my mind , but to be honest with what we've been given , it's hard to come to any firm conclusion .
Faron a have up until now been perfectly capable of raising small to medium amounts to get them to the next milestones .
Placings often over subscribed . Loyal shareholders , and they have been a shining example of how to conduct yourself . Multiple grants , and recently high profile tie up with LLS opening doors to the premier cancer treatment centres in the US .
The IPF relationship , although welcome at the time - has caused problems . The cash buffer requirement has been a constant factor in raising funds , and the previous re- negotiation , came after a period where the SP dipped into the 180's - and IPF came out of that with a much better hand . I don't think we have ever been given the full details of the IPF agreement - so we don't know about any small print . But compared to say a normal loan - IPF seem to have a lock over Faron with some severe penalties , and some other share price related conditions .
So - how did we get here ?
The accounting error reason initially seemed the most obvious - but I just can't see that as the case . Maybe it is and we are stuck in a pickle while Markku tries to get the company back on its feet ( a month to sort it won't be a complete disaster - but it will be massive egg on face moment) but I really don't see it . It's like running out of petrol on the way to church on your wedding day . They can't be that careless.
So that leaves us with IPF pulling some kind of stunt ( either alone or in step with someone else ) . For reasons to benefit either them ( some kind of extra cheap warrants/ options) that was in the contract ? Who knows . But also - surely it wouldn't do their reputation much good if future partners with them see how they are prepared to wreck a company for their own gain .
So the third option is that a deal was being finalised - funding was expected - but for some reason didn't arrive - and this situation occurred . IPF were handed this situation - and had full right to renegotiate their hand again - thank you very much . The SP tank will probably help them - so no rush in sorting it out while share not suspended .
Markku will not panic . There 'WILL' be options he can take . What they are doing now I suspect is working through waht will be best for the company ( and shareholders to a lower degree , and remember they are large holders themselves) in the longer term . They have by whatever reason - now got a chance to make themselves a bit less vulnerable .
So - for now - I am over the worrying stage . Out of our hands - all we can do is buy/sell /hold . I have read enough about the company to be confident in their abilities - and have belief in Bex .
I apologise if people have over invested here and are distraught - due to my ramping/ ultra positive nature .
I personally doubt I have that much effect , but I don't think I have ever spun a mistruth on here - just posted my thoughts , and presented facts - albeit with the Sax vibe attached .
Anyway - good luck all in what you do . I'm here anyway .
One thing's for sure Is SHs are going to find out how much exactly Faron IS worth. IF IF Bex Is as good as Markku mentions In that last presentation. Serious Billions If I heard him clearly. We SHS must remember who our Major Investors are. Look It up on FARON website. Check yourself.... names shortened...as of 31st OCT 2023 Citi Bank....Scandinava Banken......Varma Pension Fund........Nordea Life Fund.... Jalkanan Family (4)..... Varitas Pension Insurance etc. Which makes It more unusual. Why this happened. Was The rug pulled ??. For what reason. Was there phone calls from IPF that settlement was overdue???.
IF so It's hard to Imagine that Faron couldn't have fixed quickly. Was there a Major Pharma Deal In the offing and scuttled?. When you see what has happened this week IF there are Interested parties. A deal with a Major Pharma Is It seems the way to go for Faron. Whom can they trust for funding In the future ?. With the huge amounts Major Pharma's pay for Preclinical Drugs. Faron with a more advanced pipeline must be a very attractive proposition. BOL to us all anyway. AIMO.
Afraid I'm pretty layman but just going over the 28 Feb 2022 RNS. The Nasdaq did suspend initially did it not? It couldn't mean a takeover as IPF are limited to how many shares they can buy -theres an example in the RNS. But it seems to just mean that IPF can subscribe for however many shares you could get for £1mill at the average Nas price over the past 30 days.
Seems a very strict agreement that you can draw on the 10mill but must maintain 60% of that balance at all times? I'm not in the know so is this actually a normal funding arrangement of this type or just IPF's rules.
Would like to read more on it tbh, Sax where did you get the info on the 6mill requirement? Farn must have been in breach of that for a while if cash is currently at £4.3m. The RNS said breach of several undertakings, anywhere you can ready the full agreement ?!
Sax promised to eat his hat if we plummeted to 280
Mega indigestion I’d say!!
Sax may be too angry to comment at the moment.
If there was a chance of this, surely it would have been in the best interest of Faron to suspend trading until a resolution was agreed. Management has handled this shockingly
Rob can you put that In layman's terms please. Would that mean a possible take over by IPF at very little?