Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'm in at the placing price.
Christ on a bike…. Even Sisyphus didn’t have to suffer this fate.
"Or maybe, as those words were written in December"
Your words, I think.
‘If those words were written in December’
Well since the finals were issued at 7am on 3 January, I’m wondering what basis you have of saying ‘if’ they were written in December. Or perhaps you think they were written on New Year’s Day?
The point about the agm is, if you really cared you’d find the time. Nobody here can answer all your questions, and yet when you have the opportunity to ask them yourself to management you turn it down.
Your posting history shows you’re not that busy.
If those words were written in December then it just seems odd that 12 months resources no longer satisfy the likely run rates on expenditure? Things must have changed quite alot in the last couple of months?
Anyway orphan status seems to be the key now and that doesn't cost anything but time that we should already have budget for (3 months from now is early June). I'm just confused as to why they didn't wait until we knew the outcome of that before diluting shareholders holdings even more.
As for the AGM, there doesn't seem much point in taking time out of a busy schedule to ask questions if things are so fluid. Probably better to wait and see what happens with orphan progress or maybe see what comes out of the next Telegram session.
One of the big positives FX, is that the agm is just over two weeks away so you can ask Dan in person then.
Or maybe, as those words were written in December, the original plan was for outlicensing, but discussions over the past two months have led to fund raising happening first whilst orphan designation and nxp002 is progressed.
"..prudent expectations of income from out-licensing rights to its programmes OR a fundraising"
Well there's the fundraiser....so I guess they're not expecting much income from outlicensing?
We'll see 3 months after they get around to applying for orphan status
"...the Directors have prepared cash fow forecasts covering the period ending 31 December 2024 that take into account the likely run rate on overheads and research and development expenditure and the prudent expectations of income from out-licensing rights to its programmes or a fundraising."
Yes Chab, I also seem to vaguely recall reading words about having enough money to see us through for a while, something along the lines of:
"However, it is the Directors' reasonable expectation that the Group has adequate resources to continue to operate as a going concern for at least twelve months from the date of the approval of the accounts. In forming this assessment, the Directors have prepared cashflow forecasts covering the period ending 31 December 2024"
Ah well, the more the merrier, eh?
As for yesterday's question from Older: "Why not a subscription for existing shareholders?".
I think the question might have been a little naive. Do you not think long term shareholders can be a bit high maintenance? They tend to stick around, expect results and remember all the stuff that was promised and never delivered. Why go cap in hand to them if you can get money from more ethereal sources that appear to be able to profit from a quick exit without the need to get bogged down filing unnecessary notification paperwork? That sounds like a win - win to me.
PS. I also heard someone mention in recent posts that the board had stopped taking remuneration until the company was in a position to afford it. I'm not sure it's accurate to say it was entire board. However, it's a very noble gesture from those who have taken the hit:
"In addition, the non-executive directors have elected not to take payment of their salaries until such time as the business holds sufficient funds to enable them to do so."
Thanks again to Older for sharing what he heard at the recent Telegram trader huddle. One thing I think that did stand out from that was the importance of gaining orphan status if we want any kind of a meaningful deal with big pharma. That means we should all know whether or not this really has legs in about 3 months...and if we don't get it, well, maybe we can discharge the upkeep of any future costs of the patent estate in some other way.
Chab, not sure where anyone was saying funded through 2024.
My commentary was from the 30m odd sales a few weeks ago, my assumption being the conversion of the warrants which would net 85k to the company.
Might get some when they drop to 20p or shall i wait longer nft.
Dan and Jo hold 75 hasnt changed they will see it through and you
will be sitting without a ticket 🤣
No Redshoes 👞
That’s not why they have only done 10%. And yes you were saying they had plenty of funds to last.
Simply if they tried more the price would been a lot lower and the risk for those who will be dumping those shares over coming months will struggle.
Every year now this share has a large holding being dumped. When that finishes they will then raise the next tranche and so on. Sort of like Lanstead but just more conventional and easier.
I may have picked this up wrong, and apologies if it's incorrect, but wasn't it just a few weeks ago that folk were saying we were funded til end of 24? And therefore didn't need a raise ?
ATB
Agreed jiving, under the resolutions NFX could have issued up to 20% of shares in issue, so to only issue 10% shows they only need a specific amount and are confident they don’t need more.
The drop in price yesterday was I feel a tad over done ... However it provided me a rare opportunity to double my holdings and average down significantly ... Here's to fruitful negotiations. LH&K Mafuta
Agreed, it was under 10%, which by current UK smaller company standards is a small raise. Dan has remained a big shareholder throughout the upheavals & dilution impacts him & Jo more than anyone. He has restored financial discipline & tight budgeting to the company so we have essentially zero waste. Frankly it is also not a good idea for a biotech company to begin negotiations with major pharma's with no gas in the tank.
🤪
Certain is a queer sort.
Far from bitter I’m actually quite happy funding has been done. Plus they didn’t feel the need to use the full allowance that they could have done.
NFTs is sadly bipolar, he deserves our sympathy & forgiveness - he literally does not know what he is doing or why. Once a delusional, fanatical cheerleader for NFX who brooked no questioning of his repeatedly failed predictions he has now become an unhinged critic - making more postings on the NFX board than the AVCT where he is invested.
I’m sorry but I’m not the one being bitter!
Perhaps you need a mirror also.
Hard for some to reflect on the fact they got it wrong here.
Both your and our investment have good outcomes and help people why be bitter?
Ok the man that predicts a placing on the wrong share 🤣
Well done but where does that help you?
Lucky you have no interest here then.
Really?
I do t remember any of you saying there is a placing coming.
All I ever read is wonderful stuff coming going to be great same rubbish every month after month. Yet here you are after two years more diluted less cash than at any previous time with works required no deal anywhere near and requires orphan status to try get them to become interested.
They will have the option to allot more stock after the AGM which they will use in September this year to keep them going till next AGM. Miracles can happen but no new developments here apart from some worthless updates on NXP004