Member Info for extrader

Cont...

"Regardless of whether the first wave of vaccines are successfully licensed, follow on vaccines
are likely to be needed (whether for heterologous boosting or to address supply challenges,
cost of goods, mutations, sub populations, duration, reinfection etc.) If disease transmission
rates are low, the only way that next the wave of vaccines could be ‘immuno-bridged’ to first
generation licensed vaccines quickly will be through human challenge studies. The option for
large-scale field efficacy studies simply may not exist. Building this world leading, ambitious
capability now will enable the UK to optimise and prioritise future pandemic vaccines,
generating long term value and pandemic preparedness for the UK for SARS-CoV-2 and
beyond - a valuable legacy for the UK. ..."

Some kind person should forward this bit to the WHO, which it seems is still'debating/making the case for' Human Challenge Studies.
https://www.republicworld.com/world-news/rest-of-the-world-news/who-officials-to-hold-a-meeting-to-discuss-feasibility-of-human-challenge-trials.html

ATB

Hi Sportstrader,

Thank for this ! The key bit, in extenso :

.."Establishment of the world’s first Human Challenge Model for SARS-CoV-2
Just as the government has invested in flexible manufacturing capability to increase capacity, it
has also invested in developing new clinical trial capability to accelerate vaccine development
and advance mechanistic understanding of viral controlled infection through the Human
Challenge Programme. The VTF has made it a key priority to get human challenge studies up
and running for the controlled testing of new vaccines, where young healthy subjects receive
the vaccine prior to being infected by the virus.
UK Vaccine Taskforce 2020 Achievements and Future Strategy

In October, the VTF created and recommended funding of the first phase of a Human
Challenge Programme11 as a partnership between Imperial College London (trial sponsor), the
Department for Business, Energy and Industrial Strategy (BEIS), hVIVO, a leading clinical
company with expertise in viral human challenge models, and the Royal Free London NHS
Foundation Trust. This complex £33m programme required multiple arrangements to ensure
the integration of the required technical expertise under the leadership of the VTF, working with
other government departments such as DHSC and organisations such as the Wellcome Trust,
Medical Research Council, Health Research Agency (HRA), Health and Safety Executive and
MHRA.
In addition to running large placebo-controlled efficacy studies it is important to gain
information about the coronavirus as we go forward. We do not yet know enough about the
behaviour of the virus and the impact it has in different populations. Human challenge studies
in flu revealed critical information and data about the infectivity of subjects prior to their
showing symptoms and this was only discovered through the tightly controlled human
challenge studies. Such studies could help define the immunopathogenesis of COVID-19,
duration of vaccine-induced immunity and correlates of protection in healthy populations.
Once the SARS-CoV-2 Human Challenge model has been established in early 2021, the VTF
has secured the first three slots to run clinical trials on the most promising new vaccines ahead
of everyone else. Critically this provides optionality for the UK. The model can be used as a
‘fast to fail’ approach to select the most promising vaccines faster and optimising investment.

Cont...

Hi all,

Hat tip to GTA5 elsewhere for this :

.."why oh why does this look so familiar??:

Https://www.businessincameroon.com/mining/0412-11099-cameroon-government-to-collaborate-with-a-consortium-of-five-chinese-state-owned-companies-for-the-development-of-the-mbalam-mining-project..."

This is the project that Sundance has been pushing : https://www.sundanceresources.com.au/irm/content/the-mbalam-nabeba-project.aspx?RID=217

Meanwhile, in googling around , I came across this splendid offer :
https://www.trip.com/flights/beijing-to-zanaga/airfares-bjs-anj/

seems there's no problem (hah !) in the Chinese making their way to our mine to 'kick the tyres'...

ATB

Hi STOK,

Thanks again for a view from your vantage point !
I got the impression that Davis was interested in making a comeback and had settled eventually on Zogota in Guinea, see

https://www.miningmx.com/rainmakers/profile/21

.."There are signs that Guinea is slowly rebooting its iron ore potential. It awarded the rights to certain mineral blocks of Simandou to a consortium of Singaporean, French and Chinese interest in November. At the same time, a court of arbitration ordered Beny Steinmetz’s BSGR to pay $2bn to Vale for fraudulent misrepresentations he made relating to their 2010 joint venture at Simandou. That’s important because it helps clear up the legacy of corruption around Guinea’s iron ore. So what does this have to do with Sir Mick, you might ask? Davis in February 2019 agreed in a settlement with Guinea and BSGR to develop Zogota, an iron ore prospect neighbouring Simandou via his Niron Metals.

Administrators to the BSGR empire, however, threatened in April to unravel Niron’s settlement which was viewed as a way to stitch up some value for BSGR. The administrators believed there were business links between GSOL, a Bahamian private equity firm that owns shares in Niron Metals, and BSGR creditors. Undeterred, Davis signed an MoU with the Liberian government in April to make use of rail infrastructure crucial to exporting iron ore from Zogota.

It remains to be seen whether Davis will end up developing Zogota though given the political intrigue around the prospects. Making a business comeback seems to be Davis’s aim, however. He resigned as CEO of the Conservative Party, a position held since 2017, saying that the under-funded party would eventually see the Labour Party put in power (it wasn’t, of course). But the much-vaunted comeback of “Mick the Miner”, whose X2 Resources couldn’t find any useful prospects in which to invest several years ago, seems a tough one to mount currently.

One of South Africa’s best-known mining executives, he was CFO of Billiton when it listed in London, leaving after its merger with BHP, in order to run Xstrata. After a period building Xstrata into a globally diverse mining house, he famously fell out with Glencore CEO, Ivan Glasenberg when the two clashed over the merger of their respective companies. Mick stood back from business a while becoming treasurer and CEO of the Conservative Party. He returned briefly with a private equity company, X2 Resources, but couldn’t find projects in which to invest. Davis was knighted in 2015 for services to Holocaust commemoration and education.
Web Address: www.nironmetals.com "

Thanks for the QKR update. I gather it was Qatar (maybe a different crowd) that sided with Ivan , who offered them more, in the Xstrata merger-turned-takeover, so maybe Davis shouldn't count on them for support..;-<
And maybe a remorseful Ivan, contemplating his legacy, will see Zanaga as an opportunity finally to do right by his former 'bestie' ?

ATB

Hi apunter2,

You said our man was on Mubadala, I said he wasn’t , as far as I could see, only on TAQA.
You’ve confirmed my statement that he’s on TAQA.

Thank you and good night.

Hi spotify,

Harvest is in - 510 Kg...and it's a different time zone here, so I didn't make the connection you obviously ( and wrongly) did.
I see, however, that nobody seems interested in actually supporting apunter's claim.

Enjoy your weekend !

Hi apunter2,

.."No who’s the Vice President of Mubadala ?..."

Google says this guy : https://www.linkedin.com/in/dapimentel/

Google shows our man (iMass) here, as Director, National Health Insurance Co (DAMAN) :https://relationshipscience.com/person/khaled-abdullah-almass;
and working at DAMAN with him, this guy :
https://relationshipscience.com/person/khaled-abdulla-al-qubaisi-24720766

who does indeed work for Mubadala https://www.mubadala.com/en/who-we-are/investment-committee/khaled-abdulla-al-qubaisi .

Our man IS a NED on TAQA, the AD National Energy Co, but nothing AFAICS to do with Mubadala.

If you've got a supporting link, why not just provide that ...rather than hint obliquely at connections that - on the face of it - aren't there.

ATB

Hi Longlad,

..""It is very, very tough to build a huge billion-dollar mining system.."

I IF you have vast distances; competing companies; uncowed population; rule of law; bolshie trades unions; regulatory oversight, etc, etc.....

None of which apply to Zanaga ; and only the first to Simandou.

I think your point re 'complacency ? ' is a very good one !

ATB

Hi beardozer,

.."Does Glasenberg own shares in ZIOC? .."

99icecream's already mentioned his indirect 4.5%....But that leads to a flight of fancy..

I wonder what his 'non-compete'agreement, if he has one, looks like ?

Theoretically, I suppose, there's nothing apart from GLEN's right of first refusal (which they might 'helpfully' agree not to exercise - leaving ZIOC stuck) to stop him putting in a cheeky offer to buy ZIOC outright.....and then flipping to GLEN or working some kind of cute deal with the Chinese, without having to get into the detail/hassle of subsequent mine development....

Then he can go back to the green/brown fields of his retirement farm in Lithuania, bought on the proceeds of the 'flip'......

ATB

And, finally, how the FT reported the 'palace coup'..

.."Glencore completed its takeover of Xstrata on Thursday, 450 days after the commodities trading house and the mining company announced what was initially planned as a merger of equals.
Glencore’s senior executives have moved quickly to affirm their control of the new company, taking all but two of the 17 top positions in the company.
The new company said the combination of Glencore and Xstrata would enable it to “capture value at every stage of the supply chain from sourcing raw materials deep underground to delivering products to an international customer base”.

Thursday’s announcement caps one year, two months and 25 days of intrigue, difficult negotiations involving some of the world’s most influential investors, and lengthy antitrust reviews.

The original plan in February last year was renegotiated from a formal merger of equals into a pure takeover to win the support of the miner’s shareholders, particularly Qatar’s sovereign wealth fund, leading to delays to the original completion deadline.

Mr Glasenberg, who initially said he would be the number two of the company, will continue as chief executive. Sir John Bond, who was chairman of Xstrata, will become chairman of the new group. Mick Davis, chief executive of Xstrata, is to leave after a short period acting as a consultant for the group...."

Note the key role of Qatar in all this...and maybe of interest that they were the people bank-rolling Lloyd Pengelli's QKR Corp , mentioned recently.

ATB

Continued/colncluding ...

.."Iron ore miss

In 2014, Bloomberg News reported on Glencore’s tentative approaches to Rio Tinto, the second-biggest miner, before the talks progressed. Rio quashed the possibility, and Glasenberg missed the chance to absorb its huge iron ore tonnes, the world’s most-traded mined commodity, into Glencore’s fabled marketing business.

Missing out on iron ore has hurt Glencore for years, with the company now dwarfed in value by Rio. That slump in Glencore’s value, especially compared with its rivals, led Glasenberg to say on Friday that he won’t play any role in the mining industry after retiring. Still, the company dominates the commodity supply chain as the biggest trader of cobalt, nickel and coal, and second-biggest of copper...."

ATB

Me again,

Here's another article alluding to the rift.. with other interesting background to how we got where we are today ..

.."He learnt the commodities trade at Marc Rich, the eponymous firm founded in 1974 by the man celebrated for inventing the spot-oil market. Rich later spent 17 years evading US justice after making oil deals with Iran during the hostage crisis of 1979-1981. He was pardoned by president Bill Clinton in 2001.

Glasenberg was part of a management buyout from Rich in 1994 that saw the company renamed Glencore. Working under then-CEO Willy Strothotte, Glasenberg was instrumental in a strategy of buying the mines, smelters and refineries that produced the commodities it traded, helping separate the company from its major rivals.

Glasenberg succeeded Strothotte in 2002, just as China embarked on a decade of economic expansion and infrastructure build-out that would make it the largest user of metals — and Glencore’s biggest customer. The company’s global dealing in commodities enriched its owners, including Glasenberg, but the global financial crisis in 2008 forced change. Glencore’s reliance on bank leverage rather than shareholder equity left it exposed, while the company grew too big to be able to pay out its owners when they wanted to leave.

That helped prompt Glencore to go public in 2011 just as commodity prices were hitting record highs. The promise of its black-box trading operation, which distinguished it from pure mining competitors, lured investors to pay 530p a share.

Empire building

During the next four years, the company evolved from disrupting the world of commodity trading to taking on the world’s biggest miners. Glasenberg implemented an empire-building strategy that scooped up mines across the globe. The Xstrata deal, a pursuit of Rio Tinto Group and analyst speculation about a possible bid for Anglo American Plc created an industry frenzy.

The Xstrata takeover made Glencore the biggest coal shipper, while also spotlighting Glasenberg’s ruthless side. Mining grandee Mick Davis, who’d built Xstrata from a debt-laden miner into a $50bn powerhouse, was poised to become CEO of the combined company, but shareholders revolted over payments he was set to receive.

He was ousted, and Glasenberg took the top job. Davis has called that situation his lowest professional point...

Continued..

Hi Beardozer,

In the story behind Zanaga, Mick was head of Xstrata, who bankrolled us.
There was talk around 2010/2011of a 'merger-of-equals' with GLEN, Ivan double-crossed Mick and arranged with Sir John Bond a Board meeting ostensibly about the merger and instead used it to launch an ultimately successful takeover of Xstrata.
The bone of contention being 'who 'whom' ? Who would head up the merged entity....

Hence the bad blood.

Here's an article touching on this from 2017 , speculating that - as possible new head of RTZ- Mick would try and get his revenge...

.." turn the tables after an attempt by Glencore to sound out Rio about a possible merger in 2014. 

That approach was rebuffed by Jan du Plessis, Rio’s current chairman. But many in the industry think the logic of combining the two companies remains. Rio has a world class iron ore business, something Glencore lacks. In turn, the Swiss-based company has a powerful trading arm and a big copper business, an area where Rio would like to grow.

To be sure, Sir Mick, who is currently treasurer and chief executive of the UK’s ruling Conservative party, does not yet have the Rio job and, as chairman, would not single-handedly set strategy. But investors say Sir Mick, a fearless dealmaker, has a point to prove...."

I'll try and dig out the original double-cross. But putting double-cross , ego and a mining co into google search doesn't narrow the field a lot...;-<

ATB

Hi all,

.."This is pretty clear where it's heading:

https://www.mining.com/iron-ore-prices-are-going-ballistic/

and:

Https://www.biznews.com/global-investing/2020/12/05/glasenberg-leaving-amid-turmoil

"...Missing out on iron ore has hurt Glencore for years, with the company now dwarfed in value by Rio. That slump in Glencore’s value, especially compared with its rivals, led Glasenberg to say Friday he won’t play any role in the mining industry after retiring...."

ATB

Hi Lancaster,

Thanks for following up re Polenergia !
The unresolved intermittency problem is often unaddressed by the renewables enthusiasts, the 'green lobby' would have a lot more credibility , IMO, if they recognised this and - horrors ! - accepted the value of eg nuclear as an intermediate step, as they used to.
But that runs contrary to the second agenda item of anti 'big state'....
I've got the popcorn ready to see how the UK/Rolls Royce's proposals for mini nuclear power stations are received
https://www.energylivenews.com/2020/11/12/rolls-royce-unveils-plans-for-16-mini-nuclear-plants-in-the-uk/

Hope slight o/t is OK as it's the weekend !
ATB

Hi Swapleber,

Thanks for the link...AZ on a roll, atm.

Given the scale of the problem, I'd hope 'this town 'll be big enough for both of them', to paraphrase.

Although not as advanced, Imutex's approach appears to be different .." a novel proposed dual action mechanism of preventing infection in humans whilst controlling the mosquito population. .." and maybe more wide-ranging ? Malaria, Zika, dengue....

ATB

Hi parkez,

.."Are one of the big 4 going to be a broker and recommend our platform to clients?.."

Given that the release specifically says .."highly active in the DEVELOPMENT of International Financial Reporting Standards (IFRS)....

I'd say it's more likely that their role would be to work with SYME and its Inventory Monetisation as a test case , looking for a favourable interpretation ...and maybe even a 'tweak' of current wording.

What's in it for them if they're just 'giving a recommendation' ? No business and - potentially - a lot of grief.....

IMO
ATB

Hi Longlad,

South China Sea, calling out re coronavirus, ban on HuaWei....

"How much do I loathe thee ? Let me count the ways..."

ATB

Hi all,

FWLIW, I've sent off a short email to Ben Butler, author of the Guardian piece, saying that there's an interesting subplot he might want to consider, involving Glasenberg 'the dealer' and the current concatenation of circumstances.
Zanaga / Zioc are mentioned in passing...

;->
ATB

Hi allthatguff,

Well, given their methane-dispensing propensities, I doubt there'll be any cows, sacred or otherwise, by 2050...

Have a great weekend all
ATB