Member Info for Candid

Think this is following the upbeat oil & gas market currently, but any good news could send this much higher. Closing above 50p will be bullish for next week. Hopefully long term patient holders will be rewarded.

As outlined in the full year results recently the ‘Company is funded through to Q4 2022’ so there is no imminent need for cash.
They will however need to secure funding for the phase 3 trials. This will very likely come after they have partnered with a big Pharma.
There has also been talk of potential government sponsored funding (following the G7 summit) and also alternative sources of funding. Securing funding for either of the phase 3 trials will be a significant value enhancer, especially as DEST is undervalued compared to it’s peers.

Sale of some of the consideration is always expected in these deals especially by the intermediaries who are not interested in keeping hold of equity stakes.
The deal also involved warrants so the sellers have a free ride on any exploration success.

My guess is that various parties that were paid in GLR shares as consideration for the Botswana licences last year have been selling down their holdings. There were a couple of main beneficiaries and a number of smaller related parties. As lock-ins expire these parties will cash in which is expected. In my opinion a good opportunity to buy today.

I’m happy with the exploration exposure, provides much more leverage and potentially significant value creation. Rigs already booked for first 3 wells and only a few months from spud. Oil/Gas discoveries followed by appraisal will lead to production, it needs patience. Those who seek immediate production are better off buying Shell and BP.

That’s a good start, at 23c that’s equivalent to approx 12.5p and when you factor in the 7-1 consolidation it comes to around 1.75p. (It was suspended on AIM at just below 0.8p if I’m correct)

A new dawn for this company, PGM deal, fundraise, consolidation. About to start trading on ASX in the days ahead. My estimates it will be valued around $35m AUD. Lets see how it plays out.
Due to relist on AIM some time in July.

YCA has also a few days ago passed resolutions at it’s AGM to allow it to raise a further $100m in shares to purchase a second batch of u308 (probably from KAP again). As supply gets taken off the market price will respond, especially when the Sprott Physical Uranium fund starts operating in the months ahead

From the last update it was started that “we are focussed on releasing a product in calendar Q2 2021 with differentiated, core performance features based on either saliva or swabs that we believe will provide competitive advantage”
Q2 ends at the end of June so I’m expecting phase one launch of this POC solution in the next couple of weeks. It’s already been delayed from Q1 so they better get their act together..

This is probably a good entry point / top up opportunity, currently only 10m shares in issue and tightly held, liquidity is therefore not great and it can go up or down with any moderate trading volume. Currently it seems there might be some sellers, traders who were in for the short term, however once any buyers emerge this can quickly change. The admission of new shares is on 30th June, so the next 2 weeks might be range-bound. Once the shares in issue goes up to 56.6m we should see more liquidity and higher trading volumes. Real value will come from drilling success. As mentioned the management have expert knowledge and previous success in this region so the odds are good.

Uranium spot price at $32.5 now, I was thinking that u308 spot price will start accelerating in September due to the Sprott ETF and seasonal factors, but it may just start earlier this year. I think utilities are the key, as soon as they start contracting this will be the signal. After the hedge funds will pile in, we might see a bigger spike than in 2007. Producers such as KAZ will stand to benefit and will lock in contracts at much higher prices than today.

directors have invested quite significant amounts into this placing £380k, 2x £150k, £120k, £20k.
It’s a pity it was not offered to existing retail shareholders.

Finally we have an oil company with exploration farm-ins with Norwegian oil giants, 7 wells to be drilled, not bad for a recently established company. The reverse takeover rules seems a bit odd as this is a farm-in and not an acquisition of another company, perhaps that will still come for production assets in due course. Not clear if LBE’s carry interest in all of the 7 wells are fully funded now but I’m assuming they are with some very generous Norwegian tax breaks. This is now a growth story and starting with a market of less than £50m I see limited downside and significant upside in the next few years.

Simultaneously drilling this summer on 4 separate projects for: copper, gold, uranium /vanadium and tungsten.
This has got to be one of the most exciting exploration plays out there right now.

and now increased to 0.62% short

That’s not necessarily a negative as it means they will want to keep a significant percentage of the XF-83 and M3 assets when partner funding is negotiated. Also depending on the structure of the agreement a major pharma may take a stake in DEST as well as marketing/distribution rights.

I was thinking of investing via the offer but noticed a new short position opened recently on 28th May by Millenium Capital Partners ( 0.51% short).
Not keen on betting against the hedge funds.

This has drifted since the excellent XF-73 results. However now there are two world class phase 3 trials in preparation XF-73 and M3. Big pharma partner discussions are ongoing to get these trials funded and started. I think DEST will have a lot of interest for both of these trials and likely spoilt for choice with interested partners, they are in a great negotiating position. Market will wake up to this as there are not many companies with such quality assets and such a low valuation.

Crypto had quite on a sell-off following the Elon Musk tweet about bitcoin energy use, but good to see KR1’s largest investments, Polkadot, Internet Computer recovering strongly from the general sell-off as these rely on staking rather than mining which does not consume any energy. In fact Elon went on to state that Tesla will hold bitcoin but they are also looking at acquiring other cryptocurrencies that don’t use high energy consumption (perhaps Polkadot and Internet Computer)

Isn’t this a common thing with various other company shares that trade on other exchanges? As far as I understand, a company does not officially ‘list’ on US OTC. A market maker can start making a market in any shares on OTC without the company’s involvement, which looks like what happened here. This RNS is just clarifying that the company has not initiated this. (For example Synairgen which trades on AIM is also tradable on US OTC and on the Frankfurt stock exchange and I would bet that Synairgen have not initiated or sponsored that either).