Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
Is most welcome..
Back to 78p ?
Back down to the early 40s with so much 'Jam tomorrow', but IMO a lower SP suggest buying opportunities.
I get a whiff of fund raising which as we all know means dilution, but hopefully they'll be experienced enough to do this at as high share price as possible, I imagine by borrowing until the first cash from the $100m contract starts to roll in, and the clients are happy. Also at some point there is surely going to buying from those in the know about this contract as they also see an investing bargain.
Meantime.. the next 6 months will surely see a slow rise.
Hi Damofarl, Agricore et al.
Out of interest...
Have you figure which of the large share holders does not want Claudio Albanese or Jonathan Bridel to be directors ? Also would this be the same holder that's being allowed to sell out via the existence of this buyback, or the whole reason why this buyback is in place ?
I note a question on another BB as to the wisdom of spending cash on a buyback when some CLO's are considered so cheap so this cash could be invested instead.
NAV of EUR 0.6372
10% of that is 6.37 cents. Our current annualised div is 1.6 x 4 = 6.4.
Current yield is 14.5%
Current SP is under 70% of NAV.
Nothing that glares as a worry from the factsheets.
All on track, all is OK.
IMO The yield could literally be the reaction to higher inflation, in that yields all have to higher to be justified as an investment.
Also dollar rate gone back under 1.3 which should add %.
Somewhat disappointing in the short term.. The share I took the cash to buy back before results has since shot up 10%, and VEL down 10%, and is almost at the bottom of the trend line on the daily chart (around 42p) which we should expect it to bounce from.
Waiting game it is. News of first US payments, jobs being accepted and UK growth, should all help to take us up from the somewhat ridiculous market cap of £16.25m.
Surely and MC of £25m to £30m is on the cards.
Cheers all and GL
Why should the company care about the capital depreciation of it's shareholders that have invested 100s of millions ?
Why should investors care that they are down 10's of percent, and so could wait years just to break even on their investment ?
No idea. It's a total mystery why the company or its investors should care.
Hi Ace
Add to that list of things that could effect DEC in a positive way, the US$/GBP exchange rate.
The problem there for DEC is that it is becoming believed amongst traders that the dollar will tank in the coming months.
Bad for the SP, good for a buyback.
I also have seen buybacks negatively effect a share price. After all, a buyback describes a buyer (this time the actual company) sitting on the bid to buy as many shares as possible at as low a price as possible.
In reality what this means is that today one could probably sell 200,000 shares in one go at 87p.
Do this a 100s or thousands of times and the SP might go up, unless of course the company only sits on the bid at 87p.
A not so positive take of a buy back is that there is one or more very large seller, that with an unspoken nod / wink to the right people a buyback is in place so that those very sellers can now rid those millions of shares in a buyback.
Not a fan of buybacks, just give us a higher dividend and stop allotting shares. More dividends would certainly make an SP go up.
Cheers and GL.
Https://www.miningweekly.com/article/official-sod-turning-this-month-at-west-rand-gold-recovery-project-2023-07-10
The official sod-turning ceremony for the construction of the Mogale tailings retreatment project is to take place this month.
The Mogale gold dumps contain a probable mineral reserve of 123.6-million tons of re-mineable material at a head grade of 0.29 g/t for an estimated content of 1.14-million ounces of gold.
The definitive feasibility study (DFS) points to fast payback, low costs, 25% production uplift, long life, high ungeared return and the upliftment of a depressed area, where there is low employment, illegal mining activity, and serious environmental degradation.
Seen as an important mining and rehabilitation development for the West Rand District, the project – being undertaken by London- and Johannesburg-listed Pan African Resources – is expected to produce an average of 50 000 oz of gold a year over 20 years.
Near Krugersdorp and Kagiso, west of the Golden City of Johannesburg, it is expected to provide economic opportunity, local procurement, and jobs during construction and ongoing operations.
Modern technology was employed to survey available tonnages across the project area, with historical holes twinned to verify previously reported head grades. More than 80 new boreholes were sunk – totalling some 2 761 m of drilling – in areas with little or no data.
The DFS pointed to operating costs of R78/t and an all-in sustaining cost of $914/oz.
Standard hydro mining will be deployed and a large carbon-in-leach facility built, where the remined tailings will be processed with additional water treatment that will potentially improve gold recoveries.
At Pan African’s existing Elikhulu and Barberton tailings retreatment plants, optimised tailings management has reduced the pollution load on the surrounding land and underground water resources. This has resulted in improved freshwater quality and lower levels of radiation and toxicology, allowing the re-introduction of indigenous flora and fauna species to the area, which has shown an ability to recover faster. These same benefits can now be extended to the West Rand facilities.
Solar power generation is also on the cards at Mogale by Pan African, which pioneered the 10 MW photovoltaic solar plant at Elikhulu. Targeted by the group is an overall 30 MW of solar capacity by 2024. This will produce about 75 000 MWh of power a year, save about R100-million a year in electricity bills and reduce group carbon emissions. Beyond solar, battery technology and wind power are also under consideration.
The recovery of gold from dumps is viewed as a must as part of environmental restoration and making land available for proper re-use.
'Not long'... Well, six months to a year at least.
I don't see anything particularly new in today's accounts. I did expect some sort of financial deposit or news of first delivery and some received USA payments to be included.
Looks like no jolt upwards today, more a slow rise over the coming months.
Well that 35p hasn't arrived, and neither has mineable quantities of gold. That drilling result is terrible.
IMO the CEO is beginning to take the absolute P|$$. We are literally millions and millions down and the results of the drilling so far is rubbish, but rest assured their salary and office costs are fine and they don't even have to report the exact quantities of gold mined rather what they mysteriously sold to offset against the mining costs, constantly being racked up more and more.
What do we have to sell now before they start reporting properly ? $10m or something like 10,0000 ounces assuming around half the price of gold is mining costs.
In Phelps day the equivalent share price was 60p and he was mining 12,000 ounces a year.
So far the new CEO can't even muster a 1000 ounces a year.
16p the current price, a massive discount to the funding issue prices.
The market is totally unimpressed with the progress here, as am I.
Surely we're all anticipating the good news to solidify and continue with this weeks updates...
Some profit would be good as well as new contracts. Market cap is still so low !
I top sliced 50% of my holding at 55p a few weeks back, now back in with the same cash and with a higher holding at a lower average. Pretty happy with that, as so often these kind of trades go sideways but VEL looks pretty consistent with chart wise retraces.
Cheers and GL
Also top sliced and took some profit at 1.2306 just now. New average 87p.
Now doubt.. The price will zoom up.
Will stay cash to see if the bargains I see everywhere remain bargains, or buy back here if Seplat retraces.
We'll see. Cheers and GL.
Well surprise surprise, the mentioned "Climate Lobby Group" netzerowatch.com, that seems to oppose all kinds of green energy including recommendations to dismantle the entire wind energy sector, has some dubious sponsors.
IMO of course those rules on ever decreasing strike prices should be rewritten. If this government caves in to the these shortsighted, oil loving, profiteering climate-change deniers, then fortunately it will only be temporary until a government that's pledged support to green energy steps in.
https://www.opendemocracy.net/en/dark-money-investigations/global-warming-policy-foundation-net-zero-watch-koch-brothers/
"An influential Tory-linked lobby group leading the backlash against the UK government’s net-zero policy has received hundreds of thousands of dollars from an oil-rich foundation with huge investments in energy firms, openDemocracy can reveal.
The Global Warming Policy Foundation (GWPF), which also campaigns as Net Zero Watch, has also received more than half a million dollars through a fund linked to the controversial billionaire Koch brothers.
The GWPF has long refused to disclose its donors and claims it will not take money from anyone with an interest in an energy company.
But tax documents filed with US authorities and uncovered by this website reveal the network of dark money behind it for the first time – including the $30m shares in 22 companies working in coal, oil and gas that are held by one of its donors."
Hi Tichtich.
"Too many of those new windfarms appear to be planned on Nimby land"
As below, I'm pretty sure they'll sort out the strike price problem with lobbying, and the next government if Labour have already openly supported a vast amount of projects and subsidy so should be fine.
My only concern is when the wider market drops, we drop faster, and our dividend hikes must keep pace with inflation, which as we all know is easier said than done.
Next dividend is in August. Chart did show a cycle between last few dividends which is why I recently went top heavy in the mid 140s, looking to trade my holding larger. We''ll see.
A buyback... Not a fan and never will be.
Buybacks reward sellers. A buyer instantly for all those selling.
We can infer that there must be a very large seller if they think they can buy such a large amount of stock. Whya re they selling ?
Holders and buyers should be rewarded instead IMO.
That money could be a well deserved return or capital of 10p per share, and receivers could reinvest to gain the a higher dividend return and there is no doubt the SP would rise.
That's my buyback gripe and rant, and I'll always stick to it...
I always vote against them each and every AGM.
Hi Actuary. I see, is that not part of the blunt mallet argument ?
Or simply to do with narrowing margins, electricity price vs costs (interest rates/staff/materials etc etc).
I seem to have opened a can of google worms, as more and more are crying out for new government rules to allow strike price flexibility.
https://dailybusinessgroup.co.uk/2023/03/offshore-wind-farm-at-risk-without-tax-breaks/
Which highlights that certain wind farms have no chance of being built without more subsidies.
https://www.pv-tech.org/how-will-the-uk-cfd-scheme-fare-against-the-rising-cost-of-capital/
And the same including other renewables like solar, on similar schemes.
Interesting twitter thread which though favouring one side of an argument is posting some interesting links.
https://twitter.com/LoftusSteve/status/1669760302672478233
Https://watt-logic.com/2023/06/14/wind-farm-costs/
Another article arguing that a change in strike price rules is needed.
IMO This is the kind of thing that sends a blunt mallet to a whole sector regardless of the details of how individual companies business is actually going.
----
Time to accept that wind farm costs are not falling
Falling subsidy prices at the same time as massive manufacturing losses makes no sense and is clearly not sustainable. Of all of the projects that secured Contracts for Difference (“CfD”) agreements in the most recent subsidy round, known as AR4, only two have actually taken their Final Investment Decision (“FID”) – ScottishPower’s East Anglia 3 project, and Moray West which is a joint venture between EDP Renewables and ENGIE. Ørsted has warned that Hornsea 3 could be at risk without Government action “to maintain the attractiveness of the investment environment”. It has said it will make its final investment decision later this year.
The Government has said that the CfD is structured to take inflation into account, but other than introducing 100% capital allowances for a limited period in a bid to stimulate business investments in the Spring Budget, it has offered little additional help to renewable developers. “Long-life assets” only benefit from 50% relief, with many commentators believing that wind turbines will be considered to be “long-life assets” – these are typically assets with a life of at least 25 years, which tends to be the upper limit of the life of a wind turbine.
With the pot of money available for AR5 being lower than for AR4 there are now real questions about the sustainability of the trend of ever lower strike prices, and whether the AR4 projects will ever see the light of day.
Senior participants at last year’s WindEurope 2022 conference said that the trend of turbine manufacturers selling at a loss will (self-evidently) threaten renewable generation targets.
“The state of the supply chain is ultimately unhealthy right now. It is unhealthy because we have an inflationary market that is beyond what anybody anticipated even last year. Steel is going up three times…It is really ridiculous to think how we can sustain a supply chain in a growing industry with these kind of pressures…Right now, different suppliers within the industry are reducing their footprint, they are reducing jobs in Europe. If the government thinks that on a dime, this supply chain is going to be able to turn around and meet two to three times the demand, it is not reasonable,”
– Sheri Hickok, Chief Executive for onshore wind, GE Renewable Energy
On the upside... We know how corrupt the current government is, so it's a rolling eyebrow guess that new strike price rules will be announced in the summer, and just like that, the sector goes back up.
Hi Actuary.
I didn't highlight rising material costs. That's just a factor, and interest rates are also a factor.
I believe it is mainly do with the subsidy rules as outlined in my post and the article.
It is simply ridiculous that the price would be expected to continually fall, and I completely agree with the comments by the CEO of SSE.
Sadly it's in the hands of the UK government.