Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
“CEO seems upbeat about what is coming”
Lol CEOs of AIM cash poor share issuance companies are always “upbeat” about what (possible) positive is to come -
He was also upbeat prior to both resets - before the share value dropped 99.9% for holders that were also “upbeat” at the time
You will likely be able to buy below placing price as overhang cleared -
If CERP assets were “proven” to be as good as claimed then the company would not have been forced to rely on death spiral convertible loans- but rather secured far cheaper and less dilutive RBL.
Simples -
Nothing has changed - assets need work overs and to be proved up - such work required funds - 500BOPD PEAK !!! does not cover G&A let alone work required - hence BPC prudently attempting to secure $20-30m prior to TD at which point they knew funding would be near impossible on drill failure.
I strongly suspect it’s fresh dilution all the way chaps -
It’s AIM - you should know the score.
POO has increased since merger -
Also some cash in bank - although most now spoken for, licence fees to pay and a cash consolidation to LO likely.
However this is worth considering....post Bahamas
-- The Merger values the entire issued and to be issued share capital of Columbus at approximately GBP25.1 million, and the Offer represents a premium of 11 per cent. to the Columbus Closing Price of 2.40 pence per share on 10 June 2020, being the latest practicable date prior to this Announcement
Lallee- is not wrong - if you have failed or chosen not to conduct your own research and are relying on BB info including ramps / speculation / rumours for confirmation then suck it up it was your money your choice, no one put a gun to your head.
Just don’t make the same mistake next time. Advice I’m sure many will fail to heed.
PS- heard from Jman laallee? I suspect you won’t be remaining email buddies ?!
Any news from Jman and his “contacts” ??
Today will be horrific with insufficient funds remaining for development of CERP assets despite being raised for that purpose.
More fundraising required -
All PIs exiting at once with few buyers will almost certainly result in a SIGNIFICANT drop at open -
The price will not recover to 2p as further funding required and now less options available.
Once again shareholders mugged.
Fool me once .....
So how upfront were the BOD over PV1 TRUE costing as NOTHING remain for funds raised for T&S????
Key word “POTENTIAL”-
The validation of a competent seal, good reservoir quality, charge and the presence of oil points to significant hydrocarbon potential remaining in various independent, untested play systems and structures within BPC's extensive acreage
PV1 had “potential” also -
I can’t see them raising sufficient cash again- and if did dilution would be HORRIFIC
Basically Game over -
And insufficient funds for remaining assets
As at commencement of abandonment of Perseverance #1, the Company's cash balance is $12.5 million. These funds held will be applied toward satisfying final payments relating to Perseverance #1 as the drilling programme is concluded, progressing the Company's work programs in Trinidad and Tobago and Suriname over coming months, and general working capital purposes
Don’t EVER listen to rumours from other “heavily invested” parties
DYOR