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i was hoping we'd stabilized, but perhaps today - friday - for another brutal day instead of yesterday coldjoe, alas.
What we need here now is a MAJOR_BUYER !!!!!! I wonder where he is now? Clearly not still buying more and more into weakness .... come back major_buyer, all is forgiven.
I remain confident this will not go lower than approx 23p before some sort of rally here .. and of course great if it doesn't go near there .. and i will do my bit to support this into any further weakness that might occur here.. but I'd do so cautiously too.. my next buy would be at 25p for eg.. (and i'd buy large(r) tranches at 23p etc only )
While disappointed, i'm not significantly surprised by weakness here around now.. lack of news generally sees shares like this drift down as punters take money out for short term bets elsewhere....i wonder if the one and only major_buyer has been bailing for a good while here now too ?... and this has always been a super tricky and volatile share, in fairness.. but plenty of spikes along the awful road too, thankfully.. so hopefully people buy around now in anticipation of the next spike, whenever
Hmm not a good close in USA, hopefully we won’t have another brutal day tomorrow
You're excellence is hugely appreciated here Viveka, at least.. and hopefully this company soon finds a way of paying your knowledge and loyalty back... and my instinct is it might well do.
I've bought some more again towards trying to continue defending this s/p today.
And well remembered - one more time - on the basis of that 16p retrace.. and another oops on my part on that :-)
Unfortunately, NicetoMichu, you are right, the knowledge has counted for very little, so far. I hope that will soon change, and my belief in the potential of the tech will be confirmed in the not too distant future.
The drop to around 16p in early June was due to the purported termination of MTX110 licence agreement. I think it would have remained at around 24p without that.
The next 12 months is make-or-break time for Midatech. It’s their third strategy – so more excuses. It’s either going to be third time lucky or three strikes and you’re out.
actually a s/p chart glance shows me just now that this went to 16p ish in early june - one off extreme shenanigans around dumping of originally Wordford held holding from memory - not to mind the 19 p ish more recently.. but I'd be very surprised if this goes even close to as low as 20p this time round.. and I'd be equally surprised it I get my average to as low as my all time low of approx 25p again.. indeed I hope for the rest of the long suffering here I don't
If knowledge of all things mtph counted for getting rich Viveka would deservedly be very rich indeed off the back of mtph !!!
Alas, it doesn't and this share remains a very volatile and tricky animal .. but the relatively large cash run way it currently has and its exciting big pharma trails -its delivery technology especially excites - makes this a very worthwhile -long- bet imho.. and for both longterm and, given the regular recent spikes, short term players alike !
That said there seems to be all sort of games being played by all sorts of serious players here as illustrated by the 19p ish area it went as low as recently and the 80p + high not to long after that.. so this may not be for the feint heated :-)
Buy low. Sell high
oh yes Viveka you are right, well let's hope the company has something since it looks like it's easy for them to raise big amounts of money vs the mcap
Coldjoe, the placings were May and July. The July placing makes a big difference to the cash runway:
https://www.lse.co.uk/rns/MTPH/uk-placing-to-raise-16350-million-vcvo4nkfvenb2me.html
I was expecting it would break 30p with unstable markets and long time withnout any material update, just hope that it won't break 27, that would be a bummer
Disappointing this hasn't been able to stay above 30p support.. but my position is still somewhat small here and so I have flexibility to see latest weakness as a buying opportunity..
so you've found one, at least, who wants these shares at 28p ColdJoe !
So I've just added some, and indeed I'd want more again on any further weakness from here.. .. and I'm probably open to averaging down a lot further towards keeping my average within 20% of the s/p however low it might go from here .. (I needed this average down buy just now to do that. alas...)
That said, hopefully it doesn't go much lower from here.. as too many medium/long term holders have suffered too long here imho
hm look at interims at the 10th of September
Cash is about £10 million. They raised an extra £5 million at the end of July, plus another £800,000 from the exercise of warrants in August. The burn rate is about £400,000 per month. That should give them enough time to show that the tech can generate substantial revenues.
2x placing this year one in May and one in June both at 0.27 so that should be our next support, cash balance at end of June was £4.33mil so that should last some time, all we need is some positive news
crazy on AIM how people are paying crazy amounts at 50p and few weeks later nobody wants the share at 28p while nothing happened inbetween
hm just as I though...break 30p and we go down, good news soon please
Unfortunately , large losses in the last six months , cash will run short very quickly if things don't get turned around quickly. Certainly need some positive news on how these trials are going.