Member Info for emptyend

If approvals are required, then the chances are that the drilling will be further away from the first two holes than was expected.

I’d also note that exploration companies tend to keep information from drilling as in-house as possible - and only lay out the facts in an RNS when they can prove what they re saying with had analysis…..and, in this case, also a fresh interpretation of the geology, based on where they intersected the zones of interest.

Good question about permissions. It suggests to me that the follow-up drilling will be in a slightly different place from the original plan. Is this because they are looking at a bigger step-out from the initial holes?

Add that thought to the fact that they’ve perhaps taken acreage on an analogous play and have also drilled to a lesser depth than originally planned for, and I wonder if the tilting of the target formations is now less than expected pre-drill (hence a bigger step-out?

Not long to wait to find out…..

Just re M&A, in a totally different sector (but one which is technology-based), I found this deal quite interesting:

https://www.financierworldwide.com/spectris-sold-for-65bn

I happened across it when reading the performance review for a small cap, IP-oriented fund, which was pointing to some green shoots in its own performance, given that the recent bias against small and mid-caps in the UK has resulted in some substantial undervaluations……

Quite an intriguing comment, that, re an M&A rush building. What sparked it, I wonder?

Indeed it isn’t a new low. Like fulcrum I expected a takeover for the tech - partly because I was told by a former director (to whom I lived next door a decade ago) that it was the first tech product he’d been involved with for which customers were actively beating a path to the company’s door.

I also wonder what S Chari now makes of things…..

Brent oil price 18 months ago was $88. Now it is $61. Go figure…….🙄

That is a very good point, moonparty. The delay introduces a bias to the dataset which, according to some (surely??) should be corrected for when comparing outcomes.

If there is a 12 week delay to treatment of patients with, say a six month life expectancy, then that is a material factor. And it is yet another advantage for off-the-shelf treatments, to reinforce their considerable cost advantage.

I’ll be in Goa in three weeks or so. If there are any questions that might be answered by something observable on the street, please let me know.

Moving a rig “immediately” still take a matter of a number of days to pack up, transport and set up again to spud. Nevertheless, this hole appears to be taking a week or two longer than the first. That isn’t surprising, given that we were given a range if depths for the two-hole drilling programme and the first was at the lower end of that range. The second may be over 1,000m…..and it won’t get quicker as the bit goes deeper.

It is a Letter of Representation (representing shares that are held via a Nominee company, as ISA shares are). You don’t need one if you hold shares directly in your own name, because you will be on the register (take ID though).

Don’t rely on ii and others getting the LoR right first time, either……

Absolutely no apologies necessary - its a group of one.

And I am equally grateful to the small number who can actually illuminate science that is well beyond my pay grade.

I’ll just refer you to my own information post which started this thread, Bermuda. Those who bring information here shouldn’t be abused for doing so - especially by those so indolent that they ask for information that has been discussed literally countless times previously. Nobody minds the occasional question, especially from different people - it is the idea that people who bring info here can be treated as personal gofers by the rude and entitled which grates……

Not sure why some people seem to feel that others should be at their beck and call, Ruck. I block a handful of people on here, including one who has asked literally dozens of unnecessary questions of me personally and then gets upset when I don’t give him the exact level of detail he’d like.

Rude doesn’t begin to cover it.

It is like teaching children, Ruck….🙄

Recent update posted from patient who joined trial 27 months ago with metastatic kidney cancer. She reports that mets are undetectable now. Kidney tumour 2.3cm, down from 5.9cm. “Wellness” much improved on trial.

Hopefully the scientific data are now close at hand…..

Wonder if Cyan is in the loop on this Starmer visit

https://www.bbc.com/news/articles/c9wdzryk477o

I don’t think there is any presentation in the programme. I had a quick skim though and saw nothing - and the company just said they would be attending.

It would, however, be a good time to make a big clinical announcement re trials.

“We’re on the brink of vaccines that could finally cure cancer”

….Wes Streeting, just now, at the Labour conference

“we will make the UK the home of the next generation of medical breakthroughs….on the NHS”

So….come on Wes……more vaccines into the system please…..

Bermuda,

“ Would need to check but I'm pretty sure PL confirmed that it was at Redmile's request to create liquidity in a couple of it's older funds. The CLNs only impact on headroom if they're converted so if they wanted to create more headroom they'd have to sell some of their existing holding, not request repayment of the CLNs. Also it it were to create headroom then surely that doesn't suggest a deal, it suggests an equity raise.”

Yes there was a story about creating liquidity for older funds - so why wouldn’t Redmile deal with that in-house?

Chester has pointed out that Vulpes has been raising its stake materially, so could also have taken out Redmile’s CLN. I had in mind what Chester has suggested….viz a deal involving Glymabs that has implications for the percentage stakes held in GT and Scancell. For example, there may be a plan to convert the CLNs as part of that deal and/or there may be a syndicate of private equity players (including Redmile) looking to put fresh money in for a direct stake in GT.

We don’t know exactly what is planned - but we can be pretty sure that both Redmile and Vulpes have a good idea. Maybe we’ll get a better idea this week?

Re the CLN repayment, there are two questions:

1. Why did Redmile ask for it?

2. Why did Scancell agree?

The second is easy to answer - they plainly feel they can afford it, perhaps due to a likely near-term deal.

But the first question is more puzzling. They can’t need the cash…..so I think the reason for asking is to create (holdings percentages) capacity/headroom to do something. But what? Is it linked to Glymab Therapeutics and the form of deal that may emerge?