Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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John, the cash has dropped to £2.5M from the interims and the DHSC want £2.5M back plus our U.K. market was taken away from us, we don’t have a test to actually sell other than EU professional.
If CTDA/ EU HUA comes off then we can generate free cash but as it stands today we are not in that position
I disagree with TW’s views on cash burn ( quantum) per month, I don’t think it’s £1M, suggest we are close to break even or small loss due to the £600k gross from CD4 / HIV
Appreciate the debate if I am missing something ?
"We don’t know if we are running at a loss at cash level and there are question marks around the ability of Jag as the new interim CEO and is he a fill in via the Chairman "
Theres a lot of things we don't know, but we DO know that the cash position is reducing.
Cash in March (reported in July) was £5.8M.
Cash in Sept (reported in Nov) was £4.7M. This includes the £2M or so received from uk gov. So burn was 3.1M for 6M. £500K ish a month
Cash reported 2 days ago was "in excess of £2.5M".
oke - surprisingly negative post from you?
i agree that we have no test to sell until approvals come and that there is very low sentiment in share. they indicated they would place if necessary for growth - very different from needing to fund a contract? surely there could be pre-payment for materials on any contract?
we are burning cash and need some contracts soon.
the new CEO is not an interim - though personally would have preferred if he was
Is he perhaps on a plane to the Trade show in Dubai?
"The lamb was slaughtered "
sad f - still defending the indefensible?
or just happy to have another go at me? another one who has zero to add on odx
Sad f - i have been involved in aim for many years. when there is a change in CEO - it is not unusual for them to do an interview or set out their stall. share his vision etc
seeing a 20% drop on his appointment - could/should have brought out a response from someone who has just taken over company that has been hammered.
if the sp had stayed the same yesterday fair enough but a 20% drop at one stage - after such a recent decimation - on his new appointment is not normal
Okehurst i suggest you read the interims and give a balanced post rather than just post your personal negatives.
At £20M market cap earlier i thought the company offered fair value so i purchased.
I also think a lot of the price destruction from the mid 20s is a large institutional holder selling, who i believe is almost clear.
.. and so it begins.
The lamb was slaughtered to your delight and now you start on the new CEO as he's not adhered to your demands in the first 48 hours in the job. Jesus christ, stop being so bloody impatient.
John
We have no Covid test to sell - outside professional EU
£2.5M in the bank, shareholders have no/ limited trust in the Board and we may need a raise to fund a contract IF we do ever secure validation & a contract
We don’t know if we are running at a loss at cash level and there are question marks around the ability of Jag as the new interim CEO and is he a fill in via the Chairman
hasiba - i am just waiting for that "gold command call" from Alva...lol
gone back blue again.....i don't want to put "the mockers" on it but i think (or hope) we have turned the corner. the market has had its fun for a couple of days for no reason . transferred some wealth
GLA
Went blue for two minutes then back down to the usual…lol
Can you do something CaptainSwag..now CK had left !
haha - maybe i do have some of the power attributed to me on here!!..lol
captain likes blue
Just stating facts from RNS - See RNS dated 10/12/21.
Okehurst1 Explain what mess they need to sort out ?????
latino - he has seen a 20% drop on his appointment.
an introduction to the market on one of these stock shows would seem a natural thing to do - or is he going to be another one hiding up in alva?
There is no raising necessary and why at this point. It’s derampers causing panic!
They have some £2.5m in the bank + Overdraft facility. More than enough. Gov request for cash is in DISPUTE & LEGAL ACTION is in motion. ODX has strong case so will take 1-2years for this to settle!
The Chairman is driving this process, he is the one who sacked the CEO/ non exec director, he’s calling the shots now.
Does he keep waiting for CTDA / EU HUA ? Or does he run a sale process alongside ? Guess only he knows but realistically Jag is just a stand in / part player , what can he come out and say other than waiting for the above approvals ?
If we head to 10p - looks that way - raising ££ is going to be so dilutive it would need to be some sales order to justify
With CTDA/ EU HUA we could generate bunce cash but it’s nothing like what the £374M contract would have offered.
He could limp on of course but is he a busy fool? - no idea but he needs sort this mess out
Sure he will….give the guy some slack got only appointed yesterday for heavens sake!
the captain has had enough of this red
The new CEO needs to show some visibility