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So news on PFS within 2-3 months and news on Nickel EM survey within 2-3 months. Then after PFS, plan for 1000-1500tpa pilot plant - sounds like its a mobile unit. Either way the pilot plant should be straight-forward to implement: they are not re-inventing the wheel. They will need some cash for the pilot plant, some facilities.. and to throw a bit a road down. That stuff should be under way within 6 months I would have thought - commissioning at back end of 2022, initial pilot production early 2023, quality refinement and product out to potential off-takes.
The grade and resources from 1% tenement drill @24 million Tonnes is very encouraging. Using ballpark figures, if they sell the mix of grades averaging $1000 per tonne (conservative) at a cost to port of $500 per tonne, @25K TPA they would make about £9m profit before tax and deductions. Then ramping up to 100K TPA plus with market demand - EV driven.
The funding method for the main mining facility will be decided after the pilot plant is up and running. Lots of options, JV farm in, loan, share issue or a mix - or a change of mind and sell up.
The value will become more apparent over the next year to the market. I think its not just the ugandan govt who want to see mining start. The market wants to see it.
I think that the next important landmark is getting a report on Arya holes 4 and 5.
Based on current share price movement, the market is expecting no better than hole 3.
The situation could change dramatically if 4 and 5 produce the goods. Keep a close eye.
As mentioned in RNS last week, there were was a challenging environment for drilling. I buy that but with a pinch of salt ha-ha. Being sceptical I suspected they were playing for time. So they got a third drill done.
Come today and they have not mentioned drills 1 and 2? So they wanted to get drill 3 done which was able to provide mediocre data.
Seems like a mixed bag from drill 3 and potentially the anomaly is from graphite. Sulphides 1-3% buy volume detected by XRF. So for a 200m strike we are talking 2m to 6m of scattered sulphide. Then you are down to what %Cu. They didn't say and would have jumped at the chance to headline a high reading.
Early days yet. They interpreted the anomaly depth differently to the original estimates. I think all is still to play for. The deep diamond drills will reveal.
I would like to think that they have planned the five RC holes so that they can diamond tail three of them, speeding up the exploration and reducing costs considerably.
We will get a further update within 2 weeks as they complete holes 4 and 5.
Seems like a mixed bag in Arya. Sulphide was the target but graphite seems to be the
Rough figures but potential of Arya
EG01 450m x 130m x 1500m = 87.75 million tonnes
@1%Cu that is A$8billion of copper at relatively shallow depth compared to previous 430m depth estimate.
@2%Cu A$16billion etc.
@0%Cu that is the square root of Bob Monkhouse
@10% squillions
After drilling started at the BIg One, 14 working days later visuals were reported on the first 7 holes. The holes were down to approx 100m. (700 meters of drilling with and 6 hole changes time)
Big One first seven holes : 14 days - 700m - 6 hole changes. 14 days prior to report.
Arya's first 5 holes by RC drilling will be down to 200m. (1000m drilling and 4 hole changes time)
xx number of days for 1000m & 4 hole changes.
CCZ have now been RC drilling Arya for 14 working days.
My guestimate is xx = 17 to 18 days which would mean a report midweek next week but either way should be next week.
Who knows, news on Litchfield could land first.
CopperOn Spot On. Huge potential being a deposit contiguous with Core's deposit.
Also, huge potential for the copper in Arya. 450m x 130m x 1500m : If EG01 does indeed have sulphide shows then it could be pointing towards several $billions of Copper.
Exciting times.
I bought into Evgen today. I am impressed by SFX-01 potential. Evgen have come a long way.
I am very happy with the protected IP for conceivable variants.
My question on phase 3 funding is answered in the 2016 presentation.
"and that's what they need. Big pharma companies have an innovation deficit. They need to in-licence assets that have shown that they work in man. Because what big pharma is good at doing is the big Phase 3 and the marketing thereafter and what they need is assets at this stage of development.... We don't have a new molecule. This molecule has been known since 1992 as being an anti cancer agent" Many have already proven this in labs.
Https://www.youtube.com/watch?v=vloQ-N-D8sY&feature=youtu.be
Hello
Someone was asking how much the previous phase III trial cost. Well Immupharma did not provide this information.
That said there was discussion of finding agreement prior. Immupharma signed a term sheet for a US investor to fund via the trial. The funding was to be obtained via a private placement.
The agreement was to fund the phase III clinical trial. The amount was for up to $14million.
Basically the estimate for funding required of the previous phase III clinical trial was up to $14million.
Kingalf, thanks for that reference. I have reviewed it verified against RNS inf.
Full Year Results 2019
£2.6m loss
Cash & equivalents @31Mar2019 £2.0m
Half Year report 2020
£5.0m raised before expenses in April 2020
£1.6m loss
Cash & equivalents @30Sep2019 £5.1m
Full Year Results 2020
£2.7m loss
Cash & equivalents @31Mar2020 £4.1m
Average monthly cash burn FY20 was £225K per month (£2.7m / 12months)
Projecting from this would mean cash until Sep2021
However, phase3 trials are much more expensive going from a handful of patients to hundreds even thousands of patients.
So there is a funding hurdle. It could be taken care of by a partner (as has been done with the Covid trial) but we need news that Evgen are in discussions with companies. I the meantime results do look promising. imho.
Can someone help me with questions please?
How much cash does Evgen have - how many quarters will is last?
$250K upfront from recent commercial deal but when is the rest received. Is it in 2 years time when product marketed?
Where is next funding coming from if the company have to wait 2 years?
Great company / Great IP
hate people just telling lies about knowing people. they know nothing.
The price was dropped 11% by a sell of less than £500. Does seem manipulated and done to squeeze out weak / leveraged holders.
Well the enabler is looking like Jason Sutherland for the CF. However, something bigger may be happening with asset manager interest.
Iamrich, Alpha could achieve $1 billion AUM in 2 years. Factors coming into play are policy holder awareness and wave of internet-savvy and expanding number of baby boomers. The SLS market was already expanding. It should see tremendous growth.
OAW, excellent a wise move
OAW, you need to work out that probably no one here knows DS personally so a waste of time raising the point ha ha no offence. Could be worth an email to GS as he seems to reply to others here.
No you are completely missing the point fixating on kano. My point is he produces results. It is about conbections. To make clear, he could spend 90% of the time with a kango hat on. He has said he thinks about $100m MCap target for alpha. You work it out. Do you think that would be without him ?
OAW, this is about connections. DS could be playing golf 90% of the time as far as I am concerned. The guy produces results. The focus should be on the RCF not seeing DS chained to a desk.
Good posts on ADVFN.com
see thread *** TOOPLE.COM *** Telecoms Business Growing Exponentially
some very interesting info
Its on ADVFN.com
The thread is called
*** TOOPLE.COM *** Telecoms Business Growing Exponentially
it is a must read thread header. GLA
SpringInMyStep check out this Toople thread on ADVFN.
https://uk.advfn.com/cmn/fbb/thread.php3?id=44060633&from=3854