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What has happened to this substantial news which was imminent?
Feels like forever since the last rns.
Continue to hold but come on CGO don't say inninent when it's weeks.
The initial post I welcome on the bb.
There are always pro's & cons to every company.
What we have seen today is the market not liking the rns. Many see this as narrow width & of that narrow width only 2m at depth was note worthy which is basically F all. Obviously that's just the copper I am talking about.
People perhaps don't understand that 2021 is about proving the geology of the region up & are not prepared to hold long term.
The risk here is now more of the same from results from the drilling campaign about to commence. If these are at narrow width with more 2m of interest at depth then this is not good.
There are copper companies out there with 200m at depth of interest & there lies the problem. People are taking this as bad news rightly or wrongly.
Priority must be to find the larger ore body aka copper deposit. If CHF can find that I believe Poly will buy us out given there's other assets too. The key here was to have VMS which proves up the GEO that has been ticked. Good rns
Usually it's buy on rumour sell on news could this be one of the occasions where people are selling the rumour & will buy the news when assay results land?
With a small free float surely that's risky as can move quickly?
The markets have presented an opportunity at 13p with copper flying this would be the perfect time to drop a positive rns.
Look at wording when contracts are signed not if contracts are signed
There's a ftse 100 partner. You don't get that without having something to show them. Will wait & see what that something is but a few blue days wouldn't go a miss
We know there are world wide delays for companies wanting assay results etc. That is something that is outwith the companies control due to covid. I would say its harsh to blame or finger point towards the company or bod given what we know. Value will be unlocked you just have to hold until that happens imo
ABDX might not have been upfront but ODX have & if they say no placing I believe them. Even independent resource confirm that as of Sept 2020 ODX had roughly 2 years runaway cash.
How many more sources do people need that there is no placing
This article really should have little impact on the SP . #ODX always stated they where gearing up for 2m test a week by April.
Another of other companies sprinted out the blocks desperate to obtain small tenders of 1m test.
In the grand scheme of things this is peanuts.
Also consider #odx has other revenue streams it's not just a LFT stock.
The letter states MHRA approval & DHSC standards met so if they missed the deadline & a contract gets cancelled due to being challenged then there can be no complaints.
No one is saying the test does not meet the required standards.
There is a £912M tenders being awarded this week.
There is nothing stopping ABDX securing other tenders in the future provided they meet the deadlines.
#ODX haven't missed any deadlines & in contention for big tenders.
I feel people haven't understood this situation fully.
Contract wasn't cancelled for no other reason than they missed a deadline & a competitor who did make the deadline has stood up and went wait a wee minute here & challenged it.
Odx had £7m in cash enough money to last two years if no new money came into the company, they also have an overdraft facility & something else I'm sure it's options taking odx to just under £10M.
New staff yes but they get paid monthly not upfront!
Renovation work should be paid for as now complete & machines I am taking it paid upfront.
Wondering how you conclude odx have burned through £10m or nearly burned through it already?
If that was the case an rns for the exercise of options would be needed.
So basically you are saying burned through cash & overdraft or nearly but didn't exercise options & a raise is due.
Sorry but I do not agree.
Not looked into how the innova test works.
What I would say there is I think it is standard practice by the NHS & pharma companies to dispose of clinical waste by bagging in the bags being ordered then sent away to be burnt.