Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The link has been blocked out by LSE, so just to ssay that the interview is with Paul Hill on Vox Markets.
"SourceBio Executive Chairman, Jay LeCoque, discusses the way the company is gearing up its Covid testing division to address continued strong demand, especially as pupils return to schools.
More broadly (04:53 to 09:38) he covers what the landscape might look like for such services over the short, medium & long term":
https://www.**********.co.uk/articles/sourcebio-chairman-jay-lecoque-discusses-how-the-company-is-addressing-covid-testing-demands-b3aabe5/
SBI has just twitted that they have done 1 million tests.
Great stuff in the Sport section of today's Times - SBI have replaced Randox since Randox were rubbish.
And the RFU spends an estimated £100,000 per week on COVID-19 testing, so that's almost £5m per annum of high margin extra income for SBI.....
Https://www.thetimes.co.uk/article/new-covid-19-testers-brought-in-for-english-rugby-after-bath-fiasco-sx06z6bg6
"The RFU and Gallagher Premiership have engaged a new Covid-19 testing company in a bid to speed up the process. Randox Health, the company whose testing error at its laboratory in Northern Ireland led to “huge disruption” at Bath in January, has been replaced by SourceBio International.
Bath placed all players into isolation, closed their training centre at Farleigh House and subjected the facility to a deep clean after being informed of a major Covid-19 outbreak at the club, with 19 positive cases and a further 16 players identified as close contacts.
Randox subsequently discovered that 18 of those 19 cases were actually negative and apologised, blaming “operator error” and assuring the RFU and Premiership Rugby that new “robotic systems” would ensure there was no repeat.
The RFU, which spends an estimated £100,000 per week on testing, confirmed yesterday it had switched to a supplier based in Nottingham that promised a faster turnaround of results.
SourceBio International are testing the England players and management, who gathered yesterday to begin preparations for their Six Nations game against France. The same company is also conducting all tests at Premiership and Greene King IPA Championship clubs.
“We are very pleased to support elite rugby return to play protocols using our state-of-the-art laboratories to allow elite rugby in England to continue to safely operate,” Jay LeCoque, executive chairman of SourceBio International, said.
“We have been at the forefront of Covid-19 testing programmes since the beginning of the pandemic, supporting the NHS and private healthcare groups, but also helping many of our commercial clients to maintain a safe working environment and helping businesses to get back on track.”
He notes that testing will go on for at least 2 more years.....
hTTps://www.proactiveinvestors.co.uk/companies/news/943260/sourcebio-international-score-high-with-fixture-for-england-rugby-coronavirus-testing-contract-943260.html
RFU spends £100000 a week on Covid testings. There are 34 weeks in a RFU season. Nice income.
SBI are featured heavily in this morning's market report in the Times:
Https://www.thetimes.co.uk/article/analysts-slings-and-arrows-put-tdr-capital-offer-in-the-spotlight-ff2t6glr9
"Covid tester wins rugby trophy
A relative newbie to Aim has won the contract to test England’s rugby union players for the coronavirus.
As part of the tie-up with the Rugby Football Union, SourceBio International, which joined London’s junior market only last October, will test the England team and support staff a couple of days before big games, including this weekend’s Six Nations fixture against France. Each player will be swabbed at the team hotel or training ground and the samples will be couriered to SourceBio’s lab in Nottingham. The test results are turned around within hours.
SourceBio also will be responsible for testing all the Premiership rugby teams twice a week. The RFU’s plan is that clubs in the Championship, the second tier, will have access to SourceBio’s services, too.
Since May, the company has processed more than a million Covid tests at its labs for the NHS and private hospitals. In addition, it has been contracted by the likes of Virgin Atlantic and Bentley Motors to regularly test their staff.
The shares closed 7½p, or 3.9 per cent, higher at 197½p — about 22 per cent more than their launch price."
Well done Jay.Firmly got his tentacles in lots of potential markets and spreading sbi’s reputation for good work.
Yep. Excellent news. Also only one of 3 LSE listed companies on the governments test to release list as far as I can see. Should see a chunk of that £2B coming in here.
Excellent news today:
Https://uk.advfn.com/stock-market/london/sourcebio-SBI/share-news/SourceBio-International-PLC-COVID-testing-contract/84516111
" COVID-19 testing contract for elite rugby in England
SourceBio testing the England Rugby squad as part of the Six Nations tournament
RFU testing services to cover Gallagher Premiership Rugby and Greene King IPA Championship testing
SourceBio International plc (AIM: SBI), the international provider of integrated state-of-the-art laboratory services and products , announces that it has entered into an agreement with the Rugby Football Union ("RFU") and Premiership Rugby Limited to provide COVID-19 screening testing services for elite rugby in England.
Under the agreement SourceBio will provide COVID-19 testing services to England Rugby Senior Men's squad and support staff and to all 12 Premiership Rugby clubs players and staff. In addition, the RFU is also looking to roll-out this testing service to RFU Championship clubs who will be able to use this agreement to access the services provided by SourceBio.
SourceBio will provide COVID-19 testing to players and staff around training schedules and ahead of match days. Third party healthcare professionals sourced by SourceBio will take swabs from individuals and samples are then couriered to the Company's ISO 15189 accredited laboratory facility in Nottingham for PCR Testing. Test results are turned around in less than 24 hours.
SourceBio has processed more than 1,000,000 COVID-19 antigen RT-PCR tests for the DHSC and the NHS, Private Hospital Groups and Commercial customers since first offering its service in May 2020.
Jay LeCoque, Executive Chairman, commented: "We are very pleased to support elite rugby return to play protocols using our state-of-the-art laboratories to allow elite rugby in England to continue to safely operate within current social distancing measures. We have been at the forefront of COVID-19 testing programmes since the beginning of the pandemic, supporting the NHS and private healthcare groups, but also helping many of our commercial clients to maintain a safe working environment and helping businesses to get back on track."
Way I see it is that although there's a lot of punters here getting excited about testing (which for sure is going to generate some cash) but it is short term and now that the vacc's seem to be performing better than hoped the shine has been taken off testing and with it SBI's share price. The testing imo is not going to define this co's future. Its going to stay around this level ( and possibly keep dripping down until some figures are produced)until something more concrete and long term. Lets see if Jay can walk the walk. He can talk -but then its what yank evangelical type directors are good at. They carry people along - for a while. We will see
Ah, they are: https://liberum.com/news/liberum-acts-as-nominated-adviser-broker-and-sole-bookrunner-on-the-aim-ipo-of-sourcebio-international-plc-raising-35m/
Usual caveats apply to house broker reports then.
Great potential expansion of the business.Bit of a muted sp reaction.I’m just thinking if sbi were Gdr we’d be up 50 percent today at least.However always great to have a few irons n different fires.
Are they a house broker for SBI?
Liberum see scope for upgrades after today's news per this new article on Proactive:
Https://www.proactiveinvestors.co.uk/companies/news/942818/sourcebio-international-to-expand-us-covid-19-testing-services-942818.html
Extract:
"Analysts at Liberum said that this announcement offers scope for upgrades as we move through the year.
"The signing of a deal with a high street pharmacy chain in January and the more recent deal for Mitie’s Mobile testing units have raised our confidence in SourceBio’s ability to meet our 2021 forecasts that call for a quadrupling of underlying earnings (EBITDA)," they commented."
Hi Regulator. I'm talking about SBI's already existing San Diego facilities, which are to be expanded - obviously they will now kit this out!
Anyway, as you say this should be very good news. Testing for COVID-19 will be necessary for some considerable time imho.
"especially since the facilities are already there"
Not quite how I read the RNS. They have the space but have to develop the facilities.
Other than the short delay to get the facilities up to scratch this should be good news - and timely, as it looks as though the US could be heading for another wave.
This news should revive things nicely - expansion into the USA to carry out PCR testing in the next quarter in the same way as in the UK...
5,000 samples per day should bring in some very decent cash flow, especially since the facilities are already there and SBI can simply replicate what's already been achieved in the UK:
Https://uk.advfn.com/stock-market/london/sourcebio-SBI/share-news/SourceBio-International-PLC-US-expansion-of-COVID/84481983
Expansion in the US. Nice little earner?
On that basis we just need someone to buy another 24000 shares and we all double our money! ;-)
Purchase of 1000+ shares drives price up over 4%.
Really?
SBI is going to be a great company based on its fundamentals, we should ignore the daily noises and fluctuations in the SP. I am a long term investor having bought in at 200-235p
Shares bought outnumber shares sold 4:1 yet price down 2 1/2 %
Are no. of shares bought and sold meaningless?
I see these contradictions all the time!
CEO is getting sbi involved with more than one big pilot trials so spreading risk.It is a volatile share due to sbi’s COVID business and the current backlog of regular business (should pick up this year).CEO is clearly competent as he got the COVID business off the ground through existing nhs contacts and successful work I’m assuming.Who knows exactly where COVID testing is going but trading is too tough for me to figure out without definite constant insider straight from the horses mouth government policy knowledge.So I’m personally sticking with the ceo as he has delivered so far, reading rnses and ignoring day to day so unless I want to buy more or sell it is irrelevant without material rnsable news.That’s just my personal philosophy though.
Opening purchase of £26k. Looking to build a stake here