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https://www.marketwatch.com/story/scancell-shares-rise-after-recruitment-for-cancer-treatment-trial-opens-271649662151 by Joe Hoppe at joseph.hoppe@wsj.com
Just a summary of the RNS with mention of opening sp rise.
Actually this was posted soon after Monday's open but I don't think I saw it posted here, apologies if I missed that.

Not knowing anything about the sequence of events for getting an offshore well to get to commercial production, could someone list what stages are needed after the first "appraisal" well is finished (assuming enough oil is there of course)?

Like, does that appraisal well also get used for production? Do we then need some kind of platform? Do we have to lay pipework to connect to some distribution network? And how long do these things all take?

Thanks

This was broadcast last night (Monday), by chance I heard parts, they interviewed various people about their work so far on universal Covid vaccines (non-covid may also have had a mention), including longish piece near end with a Cambridge University-originated JV, but not a mention of Scancell's work in the parts I heard.

https://www.bbc.co.uk/programmes/m0013zjg

glta - I own (indirectly) from the founding of the first Oxford VCT, this does take time doesn't it!

See PLU NR Oct 4th re metallurgy and their three processing scenarios being tested by ANSTO in Sydney, http://plateauenergymetals.com/2018/10/04/plateau-reports-additional-preliminary-metallurgy-results/, no mention of AXM.

re the 2018-06-28 DSM Licence NR and stating "The Agreement is conditional on DSR completing the acquisition of a 75 per cent. equity interest in the KT Project".

see https://www.stockwatch.com/News/Item.aspx?bid=Z-C:DSM-2630977&symbol=DSM&region=C
for confirmation that it seems to have gone through:
"2018-07-05 20:28 ET - Property Agreement

The TSX Venture Exchange has accepted for filing:

A share purchase agreement between Deep-South Resources Inc. and Baltic Investment Group ApS, pursuant to which the company will acquire all of the shares of RCR Quantum held by Baltic and thereby acquire a 75-per-cent interest in the Kapili Tepe project;
An asset purchase agreement between the company and Afrasia Mining & Energy Investment Holdings, pursuant to which the company will acquire exploration and metallurgical data on the Kapili Tepe project from Afrasia. ..."

"After the year end, OT2 invested GBP150,000 into Scancell Holdings Plc (Scancell) an AIM-listed stock well known to the Directors and Investment Adviser. ... " Current OXH assets are approx �1.7m, so that is 10% of the fund now (previously OXH was (I think) the only one of the four VCTs that didn't hold Scancell). Actually, OXH has been busier than usual as sold OC Robotics, bought back shares, paid dividend, and topped-up a couple of medical investments.

It seems that Red Crescent was still around in 2016 as they got delisted from Other OTC then. So maybe they still have Hakkari, but actually it was probably their Turkish sub that owned it? No idea what might have happened to them. The Canadian co: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=99988987 "Red Crescent Resources Limited Key Developments Red Crescent Resources Limited To Be Deleted From Other OTC Apr 13 16 Red Crescent Resources Ltd ordinary shares (Canada) to be deleted from Other OTC, effective April 14, 2016. The deletion was due to inactive security" The Turkish co (web site link invalid, not tried the phone number!): https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=129563104

trillsg, thanks for the reminder, I wondered what happened to Red Crescent Resources (RCB, Canada) and the Hakkari deposit after Ebullio refused to close the asset purchase in 2014, RCB disappeared without trace it seems! (sedar: https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00023569) And no NR evidence of any res co owning Hakkari now, but if you want to read about the geology, see an Italian's 2015 PhD paper (in English, but may as well be Italian for all the sense it makes to me, is about QEMSCAN tech): http://www.fedoa.unina.it/10073/1/Santoro_Licia_27.pdf And somewhat unexpectedly he (she?) says (this is 2015): "The deposit, once belonging to Red Crescent Resource Limited (RCR), (Canada), is currently owned by Ebullio Mining Limited (�Ebullio�, UK). " Maybe he assumed the intended purchase happened, or did anyone heard if Ebullio did actually get hold of the deposit, maybe after RCB delisted so had no need to issue an announcement? There is also passing mention of the AmmLeach: "However, test-work indicates that AmmLeach � has at Pilot Plant scale extracted zinc economically from the Hakkari carbonate ores, where physical separation is largely ineffective (Clegg et al., 2014). A proprietary solvent extraction step has been used to avoid ammonia carry-over into the electrolytic metals recovery. There is potential for significant cost savings, because not using acid is a great advantage for carbonate-hosted deposits. For this reason, the current owner is planning to use ammonia leaching to process the nonsulfide ores." And anyway, if Ebullio did get it, what happened to them? ... https://www.financemagnates.com/institutional-forex/regulation/ebullio-restructures-leaving-trail-enraged-investors/ (Mid 2017, see AXM shown in a graphic) https://www.financemagnates.com/institutional-forex/regulation/ebullio-allegations-pile-hedge-fund/ (Early 2017, AXM mentioned as referred to in a sh letter graphic) Seems like Ebullio got wound-up, so who has the AXM shares that they owned?

... and the EcoShale licence would have to be transferable for TomCo to take the sell-out option. Anyone read the small print?

mc, agreed someone else may well do the mining, but one way or another the price of the Capex needs to be factored into any valuation (ie the buyer will have pay both Capex and buy-out price to get the oil), eg TomCo might part with say half the revenue to get a carried interest in the project, that would be the same as 50% dilution. On the subject of more leases, does TomCo have the right to use EcoShale just on their current leases (as some wording suggests), or does it cover more TomCo may acquire? After all, no point in acquiring land if there is no EcoShale licence to go with them (ie RedLeaf could just say "no" so rendering the leases valueless to TomCo).

"per flowing barrel", boe/d, is another valuation method, depends on the netback (profit) though, but useful as a sanity check. Typical vales are (or were) $30,000 per boed for gassy equivalent barrels up to $150,000 per boed for low-risk large plays. I don't have any current values, but let's say $70,000$/boed 9800 * 70,000 / 1.6 (fx) = GBP428m But what about this 1.9B share count divisor that has been used, no way there will be no dilution, especially if things drag on development wise at RLR, let alone TOM actually building something. Anyway, 428m / 2B shares = 21p. So another ball-park figure somewhat above current prices, but expect some considerable dilution will reduce this. Development-wise, best thing is TOMCo spend nothing (bar JORC completion) until RLR de-risk the process and thus we get a higher sp when money is raised, but directors would then have difficulty justifying their salaries! I guess having more resource (leases) would be good, but as we have 20(?) years life at 8900 rate no one should be too worried yet, perhaps they could buy some 3yr to 4yr lease options rather than outright purchases, that would give much more bang for the buck now and time for de-risking to raise the sp.

As well as TOM's own resource, it does own 0.7% of RLR (from that $5m at 1.75p in April 2012 which was our contribution to the RLR+Total JV). RLR mentions an estimated 2B barrels of oil in their leases, but that is just the US Geo guestimate. Of course part of that goes with the JV (did they put all their leases in the JV?). But say the true figure is halved by virtue of over-estimate and halved by the jv, then we have .7% of 500m, ie 3.5m barrels, less than a rounding error in TOM's own resource, and still liable to be an huge over-estimate of the recoverable oil. RLR also claim that various other parties are interested in the technology, no doubt they are. Presumably that could be worth a lot, there is a lot of Kerogen about, but how much is potentially mineable by EcoShale, and what would a royalty payment look like value wise? Just wondering if anyone has a feel for this. Compared with a TOM potential value of say £300m+ any RLR value doesn't seem to amount to much, but just curious as to whether anyone has a different idea.