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Imbrium Theraputics would not have made such a huge financial commitment unless they were confident that LYT-503/IMB-150 will be a commercial success. The strategy of wholly owned development of some drugs plus licencing and royalty payments of others spreads the risk and is very encouraging for the future of Puretech. The market appears to be finally cottoning on.

The 2nd quarter update indicate that Trident is making progress on nearly all its investments. The Claw deposit at Koolyanobbing looks like it's going to add revenue imminently. There was no mention of the political risk due to the election of the Marxist president in Peru, hopefully property rights will continue to be respected there.
I regard the granting of options at 51.66p to Paul Smith as a positive statement. We've been assured that future expansion of the portfolio will not be achieved through shareholder dilution and this option seems to underpin this aspiration.

to get this motoring?
Vedanta IPO?
Special dividend?
Earnings increase to get the PE down?
Invesco to finish selling?

The time on that sale was 13.22. Probably just a reporting delay, but following the usual day trader pattern.
There will be ups and downs but the overall trend is definitely up....

The share price is currently at a 30% discount to NAV. Those sort of levels normally indicate distressed assets - the market seems to be expecting half of the #SeedInnov investments to fail!

If the prediction that one third of all lawyers will be "freelance" in five years time is correct, Keystone will keep growing for at least five years. Of course competition may nibble into that growth, but the way Keystone is set up makes that unlikely. A top quality long term hold for me.

Almost market close and the RNS still hasn't been posted on LSE. For anyone who hasn't seen it:

"Investment in a cannabis healthcare company, CiiTECH Limited

FastForward Innovations Ltd, (AIM:FFWD) the listed investor focused on fast-growing and industry leading businesses, is pleased to announce that it has participated in the £2.1 million issuance of Convertible Loan Notes, (the "CLN") by research-led cannabis healthcare company, CiiTECH Limited, ("CiiTECH").
The Company took £175,000 of the issue, funding its investment in the 24-month CLN through its existing cash resources.
The CLNs are being issued ahead of CiiTECH's intended reverse takeover by Fragrant Prosperity Holdings Limited, (LSE: FPP) announced on 24 May 2021. CiiTECH will use the capital raised via the CLN to fund its marketing strategy, invest in new talent, build essential operational infrastructure to support future growth and finance the intended reverse takeover."

Presumably, when the reverse takeover happens, FFwd/Seed will receive shares in FPP at a 20% discount to market.

Interesting update on InvestorMeetCompany.com yesterday. Most of the information given has been covered on this board before, but the key points of interest for me were:
The legal team who handled the AIM listing took payment in share options rather than cash - a sign of belief in the future of the company if ever I saw one.
The market projection predicts dividend payments by 2026. The board are confident that, if they can sign a few more deals like the recent Thacker Pass Royalty, they can bring this forward a couple of years.
The company are concerned and aware of the political events taking place in Peru, but they're confident that the Pukaqaqa royalty is secure.
Adam stated that the company will try to sign new royalties from the current cash facility. He didn't rule out future equity raises, but said that the company will only sanction them if they are accretive to the share price.
With regard to this last point, many people will say "he would say that, wouldn't he". The simple answer is, if you believe him, invest. If not, look elsewhere.

Thanks for posting this Bogota, very informative for seasoned and (like me)novice royalty investors. There's a huge untapped market out there, a very rare situation in this day and age. Adam seems to have his feet on the ground and has said he'll only go for highly accretive deals. The royalty model mitigates the risk of investing in individual mining companies but gives full exposure to changes to commodity prices (up AND down). The perfect inflation hedge in my opinion.

Interesting find Mat.
There's no indication of timescale, but it would be yet another huge market for medical cannabis once the legislation is in place. Hopefully Alfredo is on the case.

Good find Longlad.
Looks a perfect fit, I'd be disappointed if we weren't investing.

Substitute the word "stocks" with "racehorses". That should answer your question.

If Ed is serious about buying shares on the open market to show good faith, he'll never get a better chance than now.

I personally think it wasn't the presentation but this update from the Q1 RNS which has spooked the markets a little:

"Koolyanobbing iron ore royalty payment of A$100,479 (US$76,3143), a decrease over Q4 2020 on higher received price but lower volumes from the royalty area;
· Trident notes the average grade at Koolyanobbing has fallen from 59% to 57% Fe since 2H20. Recent unprecedented strength in the iron ore market, particularly for low-grade fines products, may incentivise operators to opportunistically favour production from lower grade areas in the short term.4 Trident's royalty covers a substantial portion of the Deception pit, the highest-grade deposit and a significant proportion of the total Koolyanobbing reserves. Trident anticipates deferred production of this higher quality ore will benefit the Company in the short-medium term"
So, short term lower high grade production and consequent lower royalty payments in the short term. Not a major issue but markets are very myopic these days.

The latest RNS looks very encouraging, but appears to have totally underwhelmed the market. Is this general precious metal sentiment, or were the figures not as good as the market expected?

Interesting article. While generally positive about VRFB's and the role they'll have in load balancing, the article says that the vanadium issue still needs to be solved. To summarise:

The price of VRFB is particularly sensitive to the vanadium price
5 tonnes of vanadium required per MWh of VRFB storage
Vanadium currently comes from China, Russia & South Africa
A high stable vanadium price required for EU countries to start producing vanadium
A low stable vanadium price required for Vanadium Redox Flow Batteries

Would vanadium price hedging and battery rental to customers be a possible way forward for IES?

There's a definite buying frenzy going on and the share price hasn't budged - yet......

appointed as Vice President of Investment Analysis.
The market seems decidedly underwhelmed but, reading about his experience and background in the German medical cannabis sector, he seems the perfect fit for Fastforward. With so much cash available, more high quality medical cannabis investments must surely be on the way.

Interesting announcement from Akili today - they're going to investigate a potential cure for "Brain Fog", one of the debilitating after effects of Covid for which there is currently no treatment.

0.1p dividend covered 14x by earnings at the current gold price and no more hedging. There's only one way this divi's going to go.....